Business & Markets
Biden, McCarthy Debt Deal Could Speed Up Mountain Valley Gas Pipeline Project
Streamlined federal approval for the 303-mile (488-km) project was placed into the text of the budget deal between U.S. President Joe Biden and House of Representatives Speaker Kevin McCarthy that may end the debt limit crisis.
Pipeline Operator TC Energy Seeks US Approval to Put US-Mexico Gas Pipeline in Service
Canadian pipeline operator TC Energy Corp.'s North Baja Pipeline LLC unit asked U.S. energy regulators on Thursday for permission to put parts of the North Baja natural gas pipeline expansion in Arizona and California into service.
CorEnergy to Sell MoGas, Omega Pipeline Systems to Spire for $175 Million
(P&GJ) — CorEnergy Infrastructure Trust, Inc. has entered a deal to sell its MoGas and Omega pipeline systems to Spire Inc. for approximately $175 million in cash, the company said on May 25. The MoGas System is an interstate natural gas transmission and distribution system providing service to markets in Missouri and Illinois.
Sources: Four Bidders Vie for Stake in Exxon LNG Terminal in Italy
Four international groups are competing to buy Exxon Mobil Corp.'s majority stake in an LNG terminal offshore Italy, two sources familiar with the matter said. The deal could value the entire LNG terminal at around $881 million.
PetroChina, BP Awarded 20-Year Access to Europe's Gate LNG Terminal
PetroChina International and energy giant BP have won a tender that will allow each to handle 2 billion cubic meters of gas annually for 20 years at Rotterdam's Gate terminal, the Chinese state firm's first long-term access to a European gas terminal.
Air Products Signs $1 Billion Deal for Gas Processing Facility in Uzbekistan
Industrial gases maker Air Products and Chemicals said on Thursday it had signed a $1 billion deal with the Republic of Uzbekistan government and Uzbekneftegaz JSC to acquire, own and operate a natural gas processing facility in the country.
Iraq Oil Minister: Saudi Aramco to Develop 400 MMcf/d Iraqi Gas Field
Saudi oil giant Aramco will develop a gas field in Iraq that could produce more than 400 million cubic feet of gas per day, Iraqi Oil Minister Hayan Abdel-Ghani said on Thursday.
Shale R&D Cuts Cast Shadow on Future of US Oil Production
Shale technology advances that propelled the U.S. to the top global oil producer spot with world-beating growth rates are falling fewer and farther between as drilling budgets shrink and with them, the research and development that might deliver the next great leap.
Canada Natural Gas Exports to US Back at Levels Seen Before Alberta Wildfires
Canadian natural gas exports to the U.S. this week returned to levels seen before wildfires in Alberta and other western provinces over the past three weeks forced producers to shut oil and gas wells and cut the amount of fuel flowing in pipelines.
Oil Rises as US Gasoline Supplies Tighten, Saudi Says: 'Watch Out'
Oil prices rose on Tuesday on forecasts for a tighter gasoline market and a warning from the Saudi energy minister to speculators that raised the prospect of further OPEC+ output cuts.
Higher LNG Exports to Drive Up US Natural Gas Prices, EIA Projects
Increasing exports of U.S. LNG through 2050 will raise domestic prices for natural gas, the Energy Information Administration (EIA) said on Wednesday.
US Offers Oil, Gas Drilling Rights in First Auction Since Biden's IRA
Biden's Interior Department had attempted to suspend federal oil and gas leasing to study its environmental and climate impacts, but the Inflation Reduction Act that passed last year requires some oil and gas auctions if federal rights of way are offered for renewable energy projects.
Pipeline Operator Energy Transfer Slams US Denial of LNG Extension, Seeks Rehearing
Pipeline operator Energy Transfer slammed the U.S. Department of Energy's denial of an export-permit extension to its Louisiana LNG export project in a DOE filing, seeking a rehearing.
TotalEnergies Prepares for Mozambique LNG Restart
French energy company TotalEnergies will make good on an action plan to address the rights of residents near its Mozambique LNG project over the summer, the oil major said on Tuesday, taking a step closer towards a restart.
EIA: Texas, New Mexico Led US Crude Oil Production Last Year
(P&GJ) — U.S. crude oil production grew 5.6%, or 0.6 million bpd, in 2022 compared with 2021, averaging 11.9 million bpd, according to the U.S. Energy Information Administration (EIA). The two states the Permian Basin spans—Texas and New Mexico—contributed the most growth to U.S. crude oil production in 2022.
PetroVietnam Gas Signs Deal for First LNG Cargo from Shell Eastern Trading
PetroVietnam Gas said on Tuesday it had signed a contract to buy Vietnam's first LNG cargo from Singapore-based Shell Eastern Trading.
US Permian Natural Gas Flaring Could Rise in 2024, Report Shows
Natural gas flaring in the top U.S. shale basin is poised to increase next year, a report released on Tuesday projected, as the region's output exceeds available pipeline capacity.
Comet Ridge, Jemena Ink Deal for Mahalo North Gas Pipeline
(P&GJ) — Under the deal, Jemena will immediately undertake a pre-FEED study of a Jemena-owned and operated high-pressure gas transmission pipeline of approximately 73 km (45 miles) from the Mahalo North Gas Project to Jemena’s Queensland Gas Pipeline (QGP).
Iraq's Kurdish Oil Output Falls as Pipeline Outage Continues
Oil production in Iraq's Kurdistan region continues to drop as export flows to Turkey's Ceyhan port show few signs of restarting after a stoppage that has lasted almost two months.
Finland's Gasum Terminates Gazprom Pipeline Gas Contract
Gasum has terminated a contract to buy natural gas from Gazprom Export via pipelines from Russia. Gazprom ceased pipeline-based natural gas deliveries to Gasum in May 2022 in a dispute over payments, and the two sides had been in talks to resolve the matter.
Top US Oil-Export Port Launches Search for New CEO
Officials at the Port of Corpus Christi, the largest U.S. oil-export port by volume, on Wednesday said they intend to appoint an interim chief soon and to begin a search for a new CEO.
Greece's Alexandroupolis Port Gets $26 Million in EU Funding
The port is expected to become an important entry point for energy to Europe. Greece and Bulgaria have also been looking to revive a pipeline project to transport crude oil from the port to Bulgaria's Black Sea port of Burgas.
Rare Shipment of US Oil Heads to South Africa for Glencore Refinery
A shipment of U.S. oil is headed to South Africa for the first time in two years and destined for a Glencore-owned refinery in Cape Town that has restarted operations after an explosion shuttered it in 2020, according to ship tracking data and a source.
Equinor, Shell and Exxon Agree LNG Project with Tanzania
Equinor, Shell and Exxon Mobil have agreed a deal with the government of Tanzania for the development of a LNG export terminal in the East African country, the two sides said on Friday.
US to Buy 3 Million Barrels to Refill Emergency Oil Reserve
The U.S. Department of Energy said on Monday it will purchase 3 million barrels of crude oil for the Strategic Petroleum Reserve for delivery in August and asked that offers be submitted by May 31.
EIA: US Crude Stockpiles Soar on SPR Release; Gasoline Draws Down on Strong Demand
U.S. commercial crude oil stockpiles jumped unexpectedly last week due to another release from the Strategic Petroleum Reserve, while gasoline inventories dropped as demand surged to its highest since 2021, the Energy Information Administration said on Wednesday.
Australia's Beach Energy Shares Tumble on Waitsia Gas Project Delay
Shares of Beach Energy Ltd. fell nearly 8% on Thursday after the Australian oil and gas explorer said it was no longer prudent to maintain capital expenditure and timing estimates for its $520.93 million Waitsia Stage 2 gas project.
Pipeline Operator Janaf, Hungary's MOL Sign Transport Deal for 2.9 Million Tonnes of Crude
Croatia's oil pipeline operator Janaf has signed a transport and storage deal with Hungary's MOL for shipments of 2.9 million tonnes of crude on the Adriatic pipeline to MOL's Hungarian and Slovak refineries, Janaf said on its website on Wednesday.
Spain Says It Will Not Plug French Energy Gap Left By 'Pink Hydrogen'
France should first cover its domestic energy needs before using its nuclear fleet to produce hydrogen to export through a planned pipeline linked to Spain, Spanish Energy Minister Teresa Ribera told Reuters.
Woodside Open to Talks with Chinese Firms for Scarborough Gas Project
Woodside Energy Group said on Tuesday it is open to talks with Chinese firms to invest in its $12 billion Scarborough LNG project in Australia.
- Poland Detects Leak in Russia's Druzhba Oil Pipeline
- Energy Transfer to Buy Crestwood in $7.1 Billion Pipeline Deal
- Magellan Midstream Approves $18.8 Billion Sale to ONEOK, Creating Major U.S. Pipeline Player
- DT Midstream Successfully Completes Phase 1 LEAP Expansion Ahead of Schedule
- Equitrans to Begin Construction on Ohio Valley Connector Expansion Project
- Canada Looking to Sell Trans Mountain Pipeline Stake to Indigenous Groups
- Energy Transfer to Buy Crestwood in $7.1 Billion Pipeline Deal
- Criteria to Consider in Selecting Water Transfer Flow Meters
- US Energy Firm Payouts to Oil Investors Top Exploration Spending for First Time
- DT Midstream Successfully Completes Phase 1 LEAP Expansion Ahead of Schedule
