Business & Markets
Qatar, UAE Energy Ministers Say Gas Will Be Needed for Long Time
The world will need natural gas for a long time and more investment is required to ensure supply security and affordable prices during the global energy transition, the energy ministers of Qatar and the United Arab Emirates said on Saturday.
UK Court Rules $1.15 Billion Funding for Mozambique LNG Project is Lawful
The British government's funding of up to $1.15 billion for an LNG project in Mozambique is lawful, a London court ruled on Friday, dismissing an appeal by Friends of the Earth.
Caspian Pipeline Consortium Ready to Increase Oil Supply in 2023
The Caspian Pipeline Consortium is ready to increase oil supply in 2023, CPC cited director general Nikolai Gorban as saying on Friday, thanks to increased capacity.
China's CNOOC Targets Record Oil, Gas Output in 2023
China's CNOOC Ltd. has raised its 2023 production target by around 8% to a record 650 million to 660 million barrels of oil equivalent, it said on Wednesday.
Inpex Plans to Accelerate Expansion of LNG Production and Sales
Inpex Corp., Japan's biggest oil and natural gas explorer, aims to accelerate its expansion of production and sales of LNG on the premise that LNG market will remain tight in the mid-term, its CEO said on Thursday.
French Gas Operator GRTgaz Seeks Interest in Building Hydrogen Pipeline
French gas transmission system operator GRTgaz on Thursday opened a Call for Interest, or invitation to participate, to determine the viability of building a hydrogen transport pipeline linking the French side of the Franco-Spanish pipeline BarMar with a local storage facility.
German Green Group Files Complaint Seeking Shorter LNG Terminal License
A German environmental group has lodged a complaint calling for the operating license of a new floating LNG terminal at Wilhelmshaven to be shortened by a decade, citing its discharging of chlorine and risks to Germany's climate targets.
US Natural Gas Price Volatility Hit Record Highs in 2022
U.S. natural gas futures price volatility, both implied and historic, hit record highs in 2022 as global prices spiked due to supply disruptions and sanctions linked to Russia's war in Ukraine, feeding demand for U.S. exports.
EU Energy Regulator to Launch LNG Price Assessment on Friday
European Union energy regulators will start publishing a daily LNG price assessment on Friday, the first step in the EU's plan to form a new European benchmark price for the super-chilled fuel.
Canada's Trudeau Urges Alberta to Contribute to Carbon-Capture Incentives
Canadian Prime Minister Justin Trudeau on Friday urged the government of the main oil-producing province of Alberta to use its budget surplus to help bolster tax credits meant to help scale up carbon capture and storage and reduce emissions.
Rosneft Wants to Supply Gas to Power-of-Siberia 2 Pipeline
Russia's Gazprom is aiming to start delivering gas via the 2,600-km Power-of-Siberia 2 pipeline by 2030. The pipeline could carry 50 billion cubic meters of natural gas per year.
Shell LNG Trading to Lift Quarterly Profits Despite Output Drop
Earnings from Shell's LNG trading operations are likely to have been significantly higher in the fourth quarter of last year despite an output drop caused by plant outages, it said on Friday.
EOG Eyes Flat Permian Activity, Tighter Global Oil Supply in 2023
Global oil supply will likely tighten this year, EOG Resources CEO Ezra Jacob said at a Goldman Sachs conference in Miami, Florida, but he cautioned the demand outlook is currently more "difficult to see."
Global Pipeline Construction Outlook 2023
(P&GJ) — Seldom has a new year arrived with the degree of supply and demand uncertainty facing global energy markets at the start of 2023. Pipeline & Gas Journal's annual survey of global construction activity reflects a renewed emphasis on energy security after Russia's invasion of Ukraine.
Proved US Reserves of Natural Gas Reach New Record
In 2021, proved reserves of natural gas set a new record in the United States, and proved reserves of crude oil and lease condensate increased, but not quite to pre-pandemic levels.
Shale Producer Pioneer Expects OPEC to Boost Oil Prices as Brent Tumbles
The Organization of the Petroleum Exporting Countries (OPEC) will likely take steps to boost oil prices, which started the year in free-fall, the chief executive of top shale producer Pioneer Natural Resources Scott Sheffield said on Thursday.
Equinor, RWE to Build Hydrogen Supply Chain for German Power Plants
Equinor and RWE said on Thursday they plan to develop a supply chain for low-carbon hydrogen, allowing Germany to cut its reliance on coal power and thus its CO2 emissions.
US Poised to Regain Crown as World's Top LNG Exporter
The United States is on track to become the world's biggest exporter of LNG this year — ahead of current market leader Australia — once a fire-idled Texas plant is restarted, according to Reuters data.
Canada Oil Sands Producers to Begin Evaluating Proposed Carbon Storage Site
Canada's largest oil sands producers signed an agreement with the Alberta government allowing them to assess the geology of an underground carbon storage site, a step in their plan to tackle greenhouse gas emissions, the companies said on Wednesday.
Sources: Tokyo Gas Nears $4.6 Billion Deal to Buy US Natural Gas Producer Rockcliff
Rockcliff produces more than 1 Bcf/d of natural gas from the Haynesville shale formation, which stretches across Louisiana and East Texas. Quantum originally backed the Rockcliff management team with a $350 million investment in 2015.
Uniper Now Working with UAE's Masdar on Hydrogen Project
German utility Uniper on Thursday said it was involved in a project with the United Arab Emirates (UAE) clean energy company Masdar to produce green hydrogen, confirming a report on Bloomberg
Baker Hughes to Provide Equipment for Petronas Carbon Capture Project
Baker Hughes will provide turbo compression equipment to transport CO2 emitted from flaring at the Kasawari gas development and reinject it into a depleted offshore field through a subsea pipeline.
Kazakhstan to Raise Supply of Oil to Germany Via Druzhba Pipeline in 2023
Russian oil pipeline operator Transneft said Kazakhstan's KazTransOil had requested 1.2 million tonnes of capacity on the Druzhba pipeline for 2023 to facilitate extra oil shipments to Germany, the RIA Novosti news agency reported.
Japan Insurers to Maintain Cover for LNG Vessels in Russian Waters
Japanese insurers are expected to maintain marine war insurance, which covers the sinking and requisition of ships due to war in Russian waters for at least three months for LNG vessels, industry sources said on Friday.
China Starts Up Crude Oil Pipeline Linked to Mega Private Refiner
A major crude oil pipeline connecting a storage farm in east China's Zhoushan of Zhejiang province to mega private refiner Zhejiang Petrochemical Corp. started pumping oil for the first time on Wednesday, local state media reported.
Tellurian Gains More Time to Fulfill LNG Supply Deal with Gunvor
The company now has until Jan. 31, 2023, a one-month extension, to meet certain terms of the deal, according to a filing on Friday. The amendments include changes to the index pricing of the fuel to be sold.
Indonesia, BP Sign 20-Year Contract Extension for LNG Operations in Papua
BP is trying to increase Tangguh's production capacity from the current 7.6 MTPA to around 11.4 MTPA by adding a new, Train-3 plant which is expected to come onstream in March 2023, SKK Migas said earlier this year.
Poland Ready for Russian Oil Ban, Seeks Pipeline Sanctions
Poland is prepared for a Russian ban on oil sales to countries implementing a price cap, the climate minister said on Thursday, with the country having cut its intake of Russian crude and secured alternative supplies from producers such as Saudi Arabia.
Inpex Signs 20-Year LNG Deal with Venture Global
Inpex Corp., Japan's biggest oil and gas explorer, said on Tuesday that it has signed a long-term LNG sales and purchase agreement with U.S.-based Venture Global LNG.
Japanese Firms Sign Multiyear Agreements to Buy LNG from Oman, US
Japanese companies inked several deals on Tuesday to receive LNG supplies, with a preliminary agreement lasting up to 10 years with Oman LNG and a 20-year deal with U.S.-based Venture Global.
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- ONEOK Agrees to Sell Interstate Gas Pipelines to DT Midstream for $1.2 Billion
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Texas Oil Company Challenges $250 Million Insurance Collateral Demand for Pipeline, Offshore Operations
