Business & Markets
Goldman Sachs Predicts Brent to Fall Amid Soft China Demand
Goldman Sachs on Tuesday said it expected Brent crude prices to fall to $68 per barrel by late 2025 if China oil demand remains flat through end of next year.
New Fortress Energy’s Fast LNG 1 Resumes Production After Maintenance Outage
New Fortress Energy Inc. has resumed production at its 1.4 MTPA Fast LNG 1 unit offshore Altamira, Mexico, following a scheduled maintenance outage.
One Killed in Offshore Natural Gas Pipeline Explosion in Louisiana
An offshore natural gas pipeline that exploded near Venice, Louisiana, on Saturday night, killing one person, was owned by Whitney Oil and Gas, the U.S. Coast Guard said on Monday.
Oil Producer APA Explores $1 Billion Sale of Permian Basin Assets: Sources
APA Corp. is exploring the sale of oil and gas drilling properties spread across parts of the Permian basin of Texas and New Mexico, in a deal that could be valued at about $1 billion, people familiar with the matter told Reuters.
Fuel Pipeline Explosion at Russian Petrochemical Plant Injures Three
A blast and fire on a fuel pipeline at the Sterlitamak petrochemical plant in Russia's Bashkiria region east of Moscow injured three people, local authorities said on Monday.
Pipeline Capacity Shields Canadian Oil Exports from Rail Strike Impact
A looming labor dispute at Canada's two main railroads is unlikely to significantly reduce oil exports to the United States due to excess capacity on Trans Mountain and other pipelines, people close to the matter said.
Woodside Wins Approval for $12.5 Billion Scarborough Project After Green Group Backs Down
Woodside's $12.5 billion Scarborough gas project in Western Australia has all primary environmental approvals in place, the firm said on Monday, after a green group agreed to dismiss its challenge in a federal court.
Nigeria, Equatorial Guinea Ink Deal for $25 Billion Gas Pipeline Project
That project is expected to cost $25 billion and have a capacity of 30 billion cubic meters per year, to be completed in three phases as it links up to existing infrastructure.
TC Energy Completes $1.14 Billion Sale of Portland Natural Gas Transmission System
TC Energy Corp. has completed the sale of its Portland Natural Gas Transmission System for $1.14 billion, in partnership with Northern New England Investment Company, Inc., a subsidiary of Énergir.
U.S. Appeals Court Strikes Down Controversial Biden Pipeline Safety Rules
A U.S. appeals court on Friday tossed out several natural gas pipeline safety standards adopted by President Joe Biden's administration following industry criticism about the massive costs on pipeline operators.
Texas Oil Billionaire, Endeavor Energy Founder Autry Stephens Dies at 86
Autry Stephens, the billionaire founder and chairman of Endeavor Energy Resources, died at age 86 after a prolonged battle with cancer, the company disclosed on Friday.
Texas RRC Levies Over $2 Million in Penalties for Oil, Gas Violations
The Railroad Commission of Texas (RRC) has imposed more than $2 million in fines on operators and businesses for violations within the state's oil and gas industry.
Spain’s Cepsa Sells Iberian Gas Unit for $302 Million to Empresas Copec
Spain's second-largest oil company Cepsa has agreed to sell its liquefied gas division Gasib in Spain and Portugal to a unit of Chile's Empresas Copec for $302.42 million, the companies said on Friday.
Pipeline Repair Technology Slashes CO2 Emissions by 95%
Innovative new technology used to isolate gas pipelines in need of repair or maintenance has shown to prevent gas leakages and cut carbon dioxide emissions by 95% compared with venting pipeline contents to atmosphere – the equivalent of switching off 1,760 gas boilers for a year or taking 1,000 cars off the road
Shaping the Future: Strategies for Attracting, Training, and Retaining Energy Sector Talent
Data associated with workforce development is not for the faint of heart. The angst it can cause is especially real for those connected to the energy industry: employers, labor partners, contractors, educators, workforce systems and other stakeholders.
North Dakota Oil Production Drops Again in June, Hits 1.18 Million bbl/d
North Dakota's oil production fell by 22,500 barrels per day (bbl/d) in June to an estimated 1.176 million bbl/d, the state's Pipeline Authority said on Thursday, marking a second straight monthly decline.
Tennessee Pipeline Gets Initial FERC Approval
FERC has given a preliminary green light to East Tennessee Natural Gas to build 122 miles of 30-inch-diameter natural gas pipeline, providing about 300,000 dekatherms per day of firm natural gas transportation to the Tennessee Valley Authority’s Kingston Fossil Plant.
Brazos Midstream Nears Completion of 175-Mile Gas Pipeline in Midland Basin
The pipeline network covers several counties including Ector, Howard, and Midland, and will connect to 10 compressor stations. Once this phase is completed, Brazos will manage around 260 miles of gathering pipelines in the Midland Basin.
U.S. to Purchase Oil Through 2025 After Massive 2022 Drawdown
The U.S. is slowly replenishing the Strategic Petroleum Reserve, planning to buy back millions of barrels of oil for delivery in the first several months of next year, after the largest ever sale from the stockpile in 2022.
Harris Walks Fine Line on Energy, Keeping Voters and Industry Guessing
Is she the climate and anti-pollution warrior who was attorney general of California? Or the pragmatic Number Two in the Democratic Biden administration that oversaw record U.S. oil production and exports.
NextDecade to Appeal Court Ruling Overturning Rio Grande LNG Project Approval
U.S. liquefied natural gas developer NextDecade said it will appeal a court ruling that overturned federal approval for its $18 billion Rio Grande LNG project and warned loss of its permits could prevent access to its loans.
BP Tells Regulators Venture Global's LNG Plant Doesn't Need More Time to Start Production
Oil and gas producer BP Plc told federal regulators on Wednesday that it has reviewed confidential commissioning documents and does not believe Venture Global LNG needs more time to begin commercial production.
BW LPG Buys 12 Gas Carriers from Avance Gas for $1.05 Billion
BW LPG said on Thursday it had agreed to buy 12 Very Large Gas Carriers (VLGC) from Avance Gas for $1.05 billion.
Corrosion Control: Options for Combating Damage Due to Black Powder in Pipelines
Black powder (BP) is an industry name for the abrasive, reactive particulate contamination present in all gas and hydrocarbon fluid transmission lines. Black powder ranges from light brown to black, and the mineral makeup varies per production field around the world.
Germany Issues Arrest Warrant for Ukrainian in Nord Stream Pipeline Attack, But Suspect Has Fled, Officials Say
Poland received a European arrest warrant issued by Berlin in connection with the 2022 attack on Nord Stream pipelines, but the suspect, a Ukrainian man named as Volodymyr Z, has already left Poland, Polish prosecutors told Reuters.
Edge Architecture Under Siege: Essential Cybersecurity Strategies for Oil and Gas Leaders
Join our expert panel on August 29, 2024, at 10 a.m. CDT to explore crucial strategies for enhancing cybersecurity in edge architectures. Learn how to prepare for and respond to cyberattacks in the oil and gas sector. Register now to secure your spot!
Libya’s Waha Oil Loses 115,000 bbl/d Due to Pipeline Maintenance
Libya's Waha oil company's production was reduced by 115,000 barrels per day due to maintenance on the pipeline pumping oil from the Waha field to Es Sider port, a company source told Reuters on Wednesday.
Swan Energy to Sell $399 Million Stake in LNG Terminal to Turkish Firm
Indian oil and gas firm Swan Energy plans to sell a stake in one of its LNG terminals to Turkish state energy company BOTAS in a deal worth $399 million, it said in an exchange filing on Wednesday.
Nigerian Army Destroys 27 Illegal Refineries, Seizes 100,000 Liters of Stolen Oil
Nigerian army troops have destroyed at least 27 illicit refining sites and seized stolen crude oil following raids this week on illegal oil bunkering sites in the Niger River delta, an army spokesperson said on Wednesday.
Maverick Natural Resources Explores $3 Billion Sale, Sources Say
The Houston-based exploration and production company, which is owned by energy-focused investment firm EIG, is working with investment bankers at Jefferies on the sale process, the sources said, requesting anonymity as the discussions are confidential.
- Williams Seeks Emergency Certificate to Operate $1 Billion Mid-Atlantic Gas Pipeline After Court Reversal
- Energy Transfer Subsidiary Selects KTJV for Lake Charles LNG Export Project
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- Malaysia’s Oil Exports to China Surge Amid Broader Import Decline
- Four Petroleum Liquids Pipelines Completed in U.S. Since 2023
- Lighter U.S. Permian Crude Risks Losing Favor with Refiners Due to Processing Challenges
- Saudi Arabia Looking to Expand Pipeline to Reduce Oil Exports via Gulf
- Report: Houston Region Poised to Become a Global Clean Hydrogen Hub
