Business & Markets

Equinor Signs 15-Year LNG Deal with India's Deepak Fertilizers

Norway's Equinor said on Monday it had signed a 15-year agreement to supply liquefied natural gas (LNG) to India's Deepak Fertilizers from 2026.

El Niño Drives Real U.S. Gas Prices to Multi-Decade Low

Inflation-adjusted U.S. gas prices have fallen to the lowest level for over 30 years as a mild winter and continued production growth leave the market carrying a growing surplus of inventories.

Strike Looms: Marathon Petroleum Workers in Detroit Vote to Authorize Walkout, Union Reports

Workers represented by Teamsters union at Marathon Petroleum's Detroit refinery have voted to authorize a strike, the union said on Thursday.

North Dakota Natural Gas Output Reaches Record High in December, Flaring Eases

Natural gas production in North Dakota in December rose to a record 3.525 billion cubic feet per day (Bcf/d) from the prior all-time high of 3.469 Bcf/d in November, while gas flaring eased.

Occidental Says Crownrock Deal Delayed by FTC Requests of 'Everything'

Occidental Petroleum on Thursday said a U.S. regulator's second request for information on the acquisition of shale producer CrownRock has pushed back the deal's closing date to second half this year.

Pipeline Operator TC Energy Beats Profit Estimates on High Gas Demand

North American pipeline operator TC Energy beat fourth-quarter profit estimates on Friday, boosted by high demand for transporting natural gas.

Venture Global Seeks One-Year Permit Extension for Calcasieu Pass LNG Completion

Venture Global LNG sought a one-year permit extension to complete construction of its Calcasieu Pass gas-export plant in Louisiana, in a filing Thursday with the U.S. Federal Energy Regulatory Commission (FERC).

U.S. Regulators Approve Mexico Pacific LNG's Saguaro Connector Pipeline

U.S. energy regulators on Thursday approved a cross-border pipeline that would export about 2.8 billion cubic feet per day of natural gas from Texas to Mexico Pacific's Saguaro LNG export plant on Mexico's west coast.

U.S. House Passes Bill to Reverse Biden's LNG Pause

A bill to strip the power of President Joe Biden's administration to freeze approvals of liquefied natural gas exports passed in the Republican-controlled U.S. House of Representatives on Thursday but faces an uphill battle in the Senate.

Tellurian Secures Three-Year Permit Extension for Driftwood LNG Plant Construction

Cash-strapped Tellurian Inc. on Thursday won a three-year permit extension to complete construction of its Driftwood LNG export plant, a boost for the long-delayed liquefied natural gas project.

Spotlight on Mexico: Sierra Madre Pipeline Signals Nation’s Future

Mexico’s state of Chihuahua and the U.S. company Mexico Pacific have signed an agreement to construct the Sierra Madre Gas Pipeline (STGN). The pipeline will extend 155 miles (250 km) from the Waha Basin in Texas to the border at Chihuahua, then 497 miles (800 km) to Puerto Libertad in Sonora.

Venture Global LNG Presses Regulators to Approve CP2 LNG Project

U.S. liquefied natural gas (LNG) developer Venture Global LNG on Thursday asked federal regulators to approve construction of its controversial Calcasieu Pass 2 export plant at their meeting next month.

U.S. House Set to Vote on Bill Reversing Biden's LNG Export Pause

The U.S. House was expected to vote on Thursday on a bill that attempts to strip the power of President Joe Biden's administration to freeze approvals of liquefied natural gas exports.

Spotlight on Bakken: Gas Expansions Offer Alternative to Permian Constraints

Fueled primarily by U.S. production growth concentrated around the oil-generating geology of North Dakota, the Williston Basin’s midstream footprint has expanded according to the region’s evolving needs.

Hydrogen-Blend Pipelines: Fast-Tracking Innovations Leading Fossil Fuel Resurgence

The year 2023 was a time of extremely conflicting messages for the future of fossil fuels and the sundry clean fuel alternatives to meet distance carbon-free climate change goals.

Editor’s Notebook: Niger’s Bold Move as Exporter

Last month, Niger’s military chief, Abdourahamane Tiani, told an audience on state television that his fellow citizens could expect the west African nation to export its first barrels of crude within the next few weeks.

Energy Transfer Reports Higher Q4 Earnings, Expects Growth in 2024 on NGL Demand

Energy Transfer reported on Wednesday higher adjusted earnings for the fourth quarter of 2023 on the back of increased demand for natural gas liquids (NGL) and forecast earnings would grow in 2024.

Tokyo Gas Expects Half of Overseas Profit to Come from U.S. Gas by 2030

Japan's biggest city gas supplier Tokyo Gas Co. Ltd. expects that by 2030 its U.S. shale gas and related businesses, including trading and marketing, will contribute around 50% to its targeted overseas profit, its president said.

ProFrac Holding's Subsidiary Alpine Silica Files Confidentially for U.S. IPO

Alpine Silica Holding has confidentially filed to go public in the United States, parent company ProFrac Holding Corp. said on Thursday.

New York Pension Fund Tightens Restrictions on Exxon, Other Oil Companies

The New York State Common Retirement Fund would restrict its investments in eight integrated oil and gas companies including Exxon Mobil, after a review of the companies' readiness to transition to a low-carbon economy.

Gasgrid Confirms On-Track Progress for Balticconnector Pipeline Repair, Targeting April Completion

Finland's Gasgrid on Thursday said preparations for the repair of the Balticconnector gas pipeline between Finland and Estonia were on schedule and estimated that commissioning could take place in April.

EU Approves $4.9 Billion German State Funds for Hydrogen Projects

The European Commission approved some $4.94 billion in German government funding for 24 German hydrogen projects, the economy ministry said on Thursday as Europe's biggest economy bets on the fuel for decarbonization.

Pipeline Operator Targa Resources Expects Profit Growth in 2024 on Strong NGL Transport, Processing

Pipeline operator Targa Resources said on Thursday it expects higher core profit for full-year 2024, helped by its natural gas processing facilities in the Permian, LPG exports and high transport volumes of natural gas liquids (NGL).

Shell Forecasts 50% Surge in Global LNG Demand by 2040

Global demand for liquefied natural gas (LNG) is estimated to rise by more than 50% by 2040, as China and countries in South and Southeast Asia use LNG to support their economic growth, Shell said on Wednesday.

Global Oil Stock Refill Led by China and U.S. Expected to Drive Demand

A push to replenish depleted oil stocks notably in China, the United States and Europe could buoy demand and prices in coming months, analysts and traders said, as tensions in the Middle East threaten key shipping lanes.

Caspian Pipeline Consortium Sees 7% Increase in Oil Exports Year-on-Year in January

The Caspian Pipeline Consortium (CPC) increased crude oil exports by 7% in January from the same month a year ago to 6.116 million metric tons (1.55 million barrels per day), industry sources told Reuters on Tuesday.

Shell Exec: Extended U.S. LNG Export Ban Would Significantly Impact Global Market

An extended U.S. ban on new LNG export projects would have "quite an impact" on the fast-growing global market, a senior Shell executive said on Wednesday.

Williams Companies Beats Profit Estimates, Forecasts Higher 2024 Core Profit

Williams Companies beat estimates for fourth-quarter profit on Wednesday, as it benefited from strength in its transmission and Gulf of Mexico unit, and the pipeline operator also forecast a higher core profit for this year.

Exxon, Enbridge Sued Over Alleged Antitrust Violations in Crude Oil Transportation

Exxon and Canada-based crude pipeline operator Enbridge were sued in Illinois federal court on Tuesday over claims they barred a competitor from building a terminal to ship oil by barge from the Chicago area to refineries in the Midwest and Gulf of Mexico.

Williams CEO Warns U.S. LNG Export Terminal Permit Pause May Fuel Overseas Coal Consumption

The Biden administration's pause on approving permits for U.S. liquefied natural gas (LNG) export terminals could backfire by boosting coal usage overseas, the CEO of U.S. natural gas pipeline operator Williams Companies said.