Business & Markets

Angola LNG Weighs Adding Capacity as Gas Output Grows

Angola LNG is exploring expansion options, including a mini train addition, as new gas supplies from Chevron and the New Gas Consortium are expected to bring the plant to full capacity in the coming year.

NuVista Energy to Supply Trafigura with Natural Gas in 13-Year Deal

NuVista Energy has signed a 13-year natural gas offtake agreement with Trafigura, providing the Canadian producer exposure to international LNG market pricing through JKM indexing.

Kenya, Uganda Reviving Oil Products Pipeline Effort

Kenya and Uganda have begun negotiations on the possible revival of the stalled refined oil pipeline extension project from Eldoret in western Kenya to Uganda’s capital Kampala, where a new dedicated terminal receipt facility is be constructed.

22% of Gulf of Mexico Oil Production Shut Down by Hurricane Rafael

Over 22% of crude oil production and 9% of natural gas output in the U.S. Gulf of Mexico were shut down due to Hurricane Rafael, according to the U.S. Bureau of Safety and Environmental Enforcement. The shutdown includes 391,214 barrels of oil and nearly 181 million cubic feet of natural gas daily.

Trump Win Expected to Lift Barriers on U.S. LNG Export Projects, Say Developers

U.S. LNG developers anticipate accelerated project approvals following Donald Trump’s election, as his administration promises to streamline Department of Energy reviews. Companies like Energy Transfer and Commonwealth LNG expect this shift to fast-track multibillion-dollar export projects, while environmental groups vow continued opposition.

Mid-Michigan Pipeline Completion Bolsters Natural Gas Reliability Across Five Counties

Consumers Energy has completed its Mid-Michigan Pipeline, upgrading 55 miles of natural gas pipeline to enhance reliability across five counties. The $1.5 billion project modernizes the gas delivery system just in time for winter.

Exxon Targets First LNG from $30 Billion Mozambique Project by 2030

Exxon Mobil projects the first LNG output from its $30 billion Mozambique project by 2030, with early site work slated to begin next year. The final investment decision is expected in 2026.

ADNOC L&S Signs $4.4 Billion Deal for 23 LNG, Ethane, and Ammonia Supertankers

ADNOC Logistics & Services signed contracts worth $4.4 billion to build 23 supertankers, primarily focused on LNG, with additional vessels for ethane and ammonia. These contracts with Chinese and Korean shipyards bolster ADNOC’s low-carbon energy shipping capacity.

TC Energy's Profit Surpasses Estimates, Driven by U.S. Gas Pipeline Demand

TC Energy exceeded third-quarter profit forecasts, with significant growth from its U.S. natural gas pipeline segment amid rising North American energy demand. The company continues to benefit from high natural gas consumption and record U.S. imports of Canadian oil.

Williams Companies Exceeds Q3 Profit Estimates on Higher Revenue, Boost from Transco Pipeline

Williams Companies surpassed third-quarter profit forecasts with strong service revenue and increased natural gas flows, especially from its Transco pipeline. The company raised its annual profit outlook, citing demand from data center growth and industrial re-shoring projects.

Energy Transfer Receives 16 Bcf/d Natural Gas Requests Amid Growing Data Center, Power Needs

Energy Transfer reported a substantial increase in requests to connect over 90 power plants and data centers, with potential demand totaling up to 16 Bcf/d of natural gas. The surge is fueled by growth in data centers supporting AI, and pipeline proximity could allow Energy Transfer to capture a significant portion of this new demand.

EU Explores LNG Imports From U.S. to Counter Trump’s Tariff Threat, Boost Trade Balance

The European Union is considering increasing LNG imports from the U.S. to ease trade tensions with a potential second term for Donald Trump, as Brussels braces for new tariffs. This move is seen as a way to address the trade deficit while diversifying energy sources in the wake of geopolitical instability.

Sempra's Port Arthur LNG Phase 2 Progressing Faster Than Cameron LNG Expansion, CFO Says

The Texas-based Port Arthur project benefits from a continuous construction agreement with Bechtel and is on track to receive its non-FTA export permit early next year. Meanwhile, the timing for financial approval of the Cameron expansion remains uncertain.

Federal Regulators Approve Venture Global to Introduce Natural Gas at Louisiana LNG Plant

Federal regulators have granted Venture Global permission to introduce natural gas into its Plaquemines LNG plant in Louisiana, bringing the facility closer to producing liquefied natural gas (LNG) and strengthening U.S. LNG export capacity.

Trump’s Return May Shift U.S. Energy Focus, but Clean-Energy Boom Remains Strong

Donald Trump's return to the White House would likely redirect U.S. energy policy towards oil and gas, but experts believe the nation's clean-energy boom will maintain momentum due to existing subsidies and market dynamics.

Texas Reelects Craddick to Lead Oil Regulatory Body, Signaling Continued Industry Growth

Texas voters have re-elected Christi Craddick as chair of the Texas Railroad Commission, reinforcing her conservative stance on energy regulation and signaling further growth for the state’s oil industry, including the Permian Basin.

Sempra Misses Profit Estimates on LNG Expenses; Gasoducto Rosarito Pipeline Nears Commercial Launch

Sempra’s third-quarter profit fell short due to rising LNG-related costs and lower utility earnings. Despite this, the Gasoducto Rosarito Pipeline remains on track for commercial operation, supporting Sempra's LNG export ambitions.

Port Freeport Remains Open Amid Rough Seas; Inbound Boarding Temporarily Suspended by Brazos Pilots

Port Freeport in Texas has closed to inbound vessel traffic due to offshore conditions as Tropical Storm Rafael approaches, with the storm expected to reach near-hurricane strength by Tuesday night.

New Fortress Energy Seeks Partners to Boost Liquidity, Financial Flexibility

New Fortress Energy is exploring partnerships for its core businesses to improve liquidity and financial flexibility as it targets growth in Latin American LNG demand.

Texas GulfLink Project Gets EPA Backing for Crude Export Hub off Texas Coast

The U.S. Environmental Protection Agency (EPA) has given its nod to the Texas GulfLink (TGL) Deepwater Port Project, a venture proposed by Texas GulfLink Holdings, a subsidiary of Sentinel Midstream LLC, intended to facilitate crude oil exports from the U.S. coast.

Exxon Mobil to Sell Argentina's Vaca Muerta Assets to Pluspetrol

Exxon Mobil has agreed to sell its oil and gas assets in Argentina's Vaca Muerta shale formation to Pluspetrol, including five blocks in Neuquen province and its stake in pipeline operator Oldelval.

Snam CEO Praises EU Approval of Adriatic LNG Acquisition

Snam CEO Stefano Venier welcomed the European Commission's approval of the Adriatic LNG acquisition, a deal that will bolster Italy's energy security. Snam and VTTI now hold stakes in the terminal, crucial for Italy's LNG supply as the country shifts away from Russian gas.

Oil Trades in Tight Range Ahead of U.S. Election Result

Oil prices traded in a narrow range as the U.S. presidential election approached, with additional support from OPEC+ delaying a planned production increase to address weak demand. Analysts say the election's outcome could significantly affect oil market policies and international trade.

Argentina's New Pipeline to Boost Domestic Gas Supply, Eye Export

Argentina launched the Northern Natural Gas Pipeline to enhance domestic supply from the Vaca Muerta shale field, aiming to end reliance on Bolivian imports and potentially enable exports to nearby countries.

Freeport LNG Reports Temporary Shutdown at Texas Facility Due to Power Fluctuation

Freeport LNG reported on Monday that three LNG processing trains at its Quintana, Texas, facility were back online after temporary outages that began on Friday because of a power feed interruption.

Glenfarne Chooses Kiewit for Texas LNG Export Terminal Construction

Glenfarne Group has selected Kiewit as the construction contractor for its Texas LNG export terminal in Brownsville. The facility aims to process 0.5 Bcf/d of natural gas, targeting commercial operations by 2028, with a possible extension to 2029.

U.S. Crude Oil Pipeline Squeeze Boosts Prices at Gulf Coast Export Hub

U.S. crude oil prices at the Gulf Coast export hub have surged due to limited pipeline capacity from the Permian basin. A growing demand for light sweet crude, alongside record production, has widened the price gap between West Texas and Houston.

Hungary Prioritizes Druzhba Pipeline for Crude Imports Despite EU Pressure

In contrast to many other European Union countries, Hungary seeks to maintain close political and business ties to Russia, including reliance on Russian energy.

Chevron CEO Wirth Under Fire as Hess Deal Delay Drags Down Stock Performance

Chevron CEO Michael Wirth faces mounting pressure as the company's stock slides amid delays in the $53 billion acquisition of Hess. The stalled deal, crucial for growth, coincides with declining earnings and rising operational costs, raising concerns among investors about Chevron's future direction.

Venezuela's Oil Exports Surge to 4-Year Peak Amid Higher Output, Demand from U.S., India

Venezuela's oil exports reached a four-year high of nearly 950,000 barrels per day in October, driven by increased crude production and enhanced sales to the U.S. and India, despite ongoing sanctions and recent challenges.