Business & Markets
Fulcrum LNG to Assist Guyana in Developing Natural Gas Resources
U.S. firm Fulcrum LNG was selected to help Guyana develop a plan to design, finance, construct and operate a natural gas processing facility in the South American country, President Irfaan Ali said on Thursday.
EU Approves $3.2 Billion in German Hydrogen Pipeline Aid
Germany is targeting more than 9,700 km (6,000 miles) of hydrogen pipelines, with existing natural gas transmission making up 60% of the network to power heavy industry sites that cannot switch to electricity.
Piñon Midstream Secures EPA Approval for Carbon Capture at Dark Horse Facility
Piñon Midstream has received approval from the EPA for its monitoring, reporting, and verification plan for the permanent sequestration of carbon dioxide at its Dark Horse Treating Facility in Lea County, New Mexico.
Vallourec Extends Abu Dhabi Oil Contract, Secures New Order
Vallourec has signed a two-year extension to its contract with the National Oil Company of Abu Dhabi, originally worth around $900 million.
Genting Berhad Signs $963 Million Deal for Indonesian Floating LNG Facility
Genting Berhad has signed a $962.8 million deal for a floating LNG facility from China's Wison New Energies, the Malaysian company said on Thursday.
U.S. Natural Gas Venting, Flaring Declined to 18-Year Low in 2023, EIA Reports
The yearly amount of natural gas vented or flared in the U.S. decreased to 0.5% of gross withdrawals in 2023, the Energy Information Administration (EIA) estimated on Thursday, based on preliminary state and federal data.
Carlyle Forms New Mediterranean Oil and Gas Firm in $945 Million Energean Deal
Carlyle will form a new Mediterranean-focused oil and gas company led by former BP CEO Tony Hayward after the private equity fund agreed to acquire Energean's assets in Egypt, Italy and Croatia for up to $945 million.
QatarEnergy, Exxon Move to Remove Contractor from Texas Gas Project Amid Bankruptcy
Joint venture partners QatarEnergy and ExxonMobil are urgently seeking court action to remove contractor Zachry Industrial from their $10-billion Golden Pass LNG project in Texas.
TGS Proposes $500 Million Expansion of Vaca Muerta Gas Pipeline
Argentine gas transportation firm TGS said on Wednesday it has proposed investing $500 million to expand the capacity of a government-owned natural gas pipeline that connects to the country's massive Vaca Muerta shale oil and gas formation.
Russian Court Orders $102 Million Award of Commerzbank Assets to Pipeline Firm
A Russian court has ordered that Commerzbank assets worth $101.86 million be awarded in damages to a company overseeing construction of a gas processing plant in northwest Russia, court documents showed.
Mega-Deals Reshaping How Midstream Business Is Done
Explore how mega-deals are reshaping the midstream oil and gas industry, providing growth and stability amid regulatory challenges and limited organic expansion opportunities.
Projects June 2024
FERC reapproves GTN pipeline expansion; DeLa Express seeks FERC approval; Williams cancels New Jersey pipeline project; Venice extension project gets approval; Biden administration requests Enbridge review; Black Bear's Ozark project operational.
Global News June 2024
Latest industry developments from around the world!
Aiteo Suspends 50,000 bpd Oil Production in Nigeria Following Leak
Nigerian energy firm Aiteo has shut down all oil production at its Nembe Creek facility, nearly 50,000 barrels per day of output, after detecting a leak, the company said on Wednesday.
Germany's Wintershall Dea Makes Gas Condensate Discovery in North Sea
Germany's Wintershall Dea and its Norwegian partners Petoro and DNO have made a gas condensate discovery at the Cuvette prospect in the northern North Sea, the operator said in a statement on Wednesday.
Goldman Sachs: Permian Production, OPEC Capacity Likely to Cap Brent at $75-90/bbl
Goldman Sachs expects robust oil production growth in the Permian Basin, the largest U.S. oilfield, and high OPEC spare capacity to likely support the ceiling of their $75-90 per barrel Brent price forecast in the short run, the bank said in a research note on Tuesday.
TotalEnergies, NNPC to Invest $550 Million in Nigeria Gas Facility
The investment would include a gas processing plant and a pipeline, said the source who is privy to the agreement but could not be named as they were not authorized to speak on the issue.
Indonesia to Begin Construction of 152-Mile Java Gas Pipeline in July
Indonesia plans to start in July construction of a 245-km (152.24 miles) gas pipeline in Java to connect excess supply in eastern part of the island to buyers in the west, an energy ministry official said on Wednesday.
Trans Mountain Revises Heavy Crude Standards on Pipeline After Quality Concerns
Canadian government-owned oil pipeline operator Trans Mountain last week revised standards for accepting crude oil on its recently expanded system after buyers raised concerns about the crude oil arriving on the line, a regulatory filing showed.
Phillips 66 Refining Margins Tighten on TMX Expansion Start-Up
U.S. refiner Phillips 66 said on Tuesday its margins have tightened after the expanded Trans Mountain pipeline project in Canada started up in May.
Air Liquide and Dunkerque LNG's CO2 Project Gets EU Support
The D'Artagnan project will include an Air Liquide pipeline to transport CO2 from capture sites to a new terminal in the port of Dunkirk, where it will be liquefied and shipped to permanent storage sites in the North Sea.
Biden Administration Offers $200 Million in Grants to Fix Aging Gas Pipelines
(P&GJ) — The U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration is now accepting applications for nearly $200 million in grants aimed at repairing and modernizing aging natural gas pipes.
Canada Oil and Gas Emissions Cap Likely to Cut Production, Report Says
Canada's proposed oil and gas emissions cap will prompt companies to cut production rather than invest in costly carbon capture and storage (CCS) technology, analysts say.
Microsoft to Buy 8 Million Carbon Credits from BTG Pactual in Largest-Ever Sale
Brazilian investment bank BTG Pactual's forestry arm said on Tuesday it agreed to sell 8 million carbon offset credits to Microsoft, the largest-ever sale of such credits.
Meld Energy Gets Approval for $317 Million Hydrogen Facility in Hull
Meld Energy has received approval from the East Riding of Yorkshire Council to build a $317 million, 100-megawatt green hydrogen production facility at Saltend in Hull.
Cormetech and Ozona Partner on Full-Scale Carbon Capture Project
Cormetech Inc. and Ozona CCS LLC have signed an agreement to develop and operate a full-scale carbon capture and sequestration (CCUS) system with integrated NOx reduction.
Shell to Acquire Singaporean LNG Firm Pavilion Energy from Temasek
Shell has agreed to buy Singaporean LNG company Pavilion Energy from global investment company Temasek in a move the oil major said will strengthen its leadership position in LNG, according to statements on Tuesday.
Berkshire Hathaway Increases Stake in Occidental Petroleum to Nearly 29%
Billionaire Warren Buffett's Berkshire Hathaway Inc. acquired another 2.95 million shares in Occidental Petroleum, a regulatory filing showed, bringing his stake in the U.S. oil producer's common stock to nearly 29%.
Uganda Optimistic About Timely Finish of Revised $5 Billion, 897-Mile EACOP Pipeline
Uganda has attributed the spike in the cost of construction for the 897-mile (1,443-km) East African Crude Oil Pipeline (EACOP) to the government’s resolve to make the new project more climate responsive.
States Sue U.S. to Block $7 Billion Rule Requiring Oil Firms to Guarantee Well Dismantling Payments
Texas, Louisiana and Mississippi on Monday sued the U.S. government to block the Biden administration's proposed rule that would require the offshore oil and gas industry to provide nearly $7 billion in financial assurances to cover costs of dismantling old infrastructure.
- Williams' $1 Billion Gas Pipeline Blocked by U.S. Appeals Court, Derailing Five-State Project
- Texas Waha Hub Gas Prices Plunge to Record Lows, Hit Negative Territory
- Williams Begins Louisiana Pipeline Construction Despite Ongoing Legal Dispute with Energy Transfer
- U.S. Buys Nearly 5 Million Barrels of Oil for Emergency Stockpile
- U.S. Appeals Court Strikes Down Controversial Biden Pipeline Safety Rules
- U.S. to Buy 4.5 Million Barrels of Oil to Replenish Strategic Petroleum Reserve
- Kurdish Oil Smuggling to Iran Flourishes
- U.S. Court Overturns Alaska Oil Lease Sale, Halting Energy Development
- Second Gas Pipeline Rupture in Texas’ Reeves County Raises Environmental Concerns
- Mid-Year Global Forecast: Midstream Responding to Demand from LNG Projects
