Business & Markets
Texas Deep Freeze Hits Energy Sector
A deep freeze in Texas that started over the weekend continued to wreak havoc on the U.S. energy sector on Tuesday, grounding operations at the Houston Ship channel and curbing output in the nation's largest oil field in the Permian, while several of the biggest oil refineries remained offline.
Resurgent Canadian Natgas Producers Looking to U.S. Market
Canadian natural gas producers are bouncing back faster from the COVID-19 pandemic than battered U.S. shale firms, putting them in position to boost net gas exports to the United States for the first time in five years.
Watchdog says Australia Needs LNG Import Terminal to Avoid Gas Shortfall
Australia's southern states will need to import natural gas to fill a looming shortfall by 2024, as last year's COVID-19 induced oil and gas price slump has slowed investment in new fields, the country's competition watchdog said on Tuesday.
Germany Looking at Green Hydrogen Co-operation with Russia
Germany is in close communication with Russia about the potential of "green" hydrogen production and transport, Economy Minister Peter Altmaier said.
Oil Prices Close to 13-month Highs, Supported by Texas Cold Snap
Oil prices hovered near 13-month highs on Tuesday, supported by a U.S. cold snap that shut wells in Texas, though gains were capped by a Norwegian wage deal that averted supply disruptions in Europe.
Mountain Valley Gas Pipeline Completion Expected by End 2021
Virginia natural gas company RGC Resources Inc's chief executive said the joint venture building the $5.8 billion-$6.0 billion Mountain Valley gas pipeline from West Virginia to Virginia expects to complete the project by the end of 2021.
Argentina's Shale Oil Drives Rebound
Oil output from the Vaca Muerta region in Patagonia, which holds the fourth-largest shale oil reserves in the world, stalled during the coronavirus pandemic but hit a record high in December as producers revved up wells with an eye on rebounding prices and a new export market.
Russell: Australian Refinery Closure Adds to Litany of Energy, Climate Failures
The closure of one of Australia's last remaining oil refineries, carbon border taxes in Europe and a proposal for the world's biggest battery storage plant all show a failure to produce a coherent climate change policy.
Unsolicited, Brookfield Offers $5.6 billion for Canada's Inter Pipeline
Brookfield Infrastructure Partners L.P. made an unsolicited C$7.08 billion ($5.6 billion) offer on Wednesday to buy Canada's Inter Pipeline Ltd as it seeks to benefit from rebounding oil and gas demand, after an approach last year was rebuffed.
Russia’s Gazprom Taps Eurobond Market Again with 1 billion Euro Deal
Gazprom returned to the bond market Wednesday with a new 1 billion euro ($1.21 billion) Eurobond issue, Gazprombank said, in a sign of investor confidence in the state-controlled Russian gas producer despite tensions with the West.
CorEnergy Acquires Crimson’s California Pipeline Assets
CorEnergy Infrastructure Trust announced the acquisition of Crimson Midstream Holdings, a California Public Utilities Commission regulated crude oil pipeline owner and operator, for consideration valued at approximately $350 million.
German Government, Gas Industry Locked in Tricky Conflict over Hydrogen Pipelines
The natural gas pipeline industry, which eventually needs to switch to hydrogen, wants an early merger of the two systems and criticized the government's approach for being too slow.
EIA: U.S. Crude Output to Fall More than Previously Forecast This Year
The U.S. government on Tuesday lowered its outlook for crude oil production in 2021 to 11.02 million barrels per day from 11.1 million bpd previously forecast, while oil prices rose on Tuesday for their seventh straight session of gains.
Saudi Aramco Prepares $10 billion Financing for Pipeline Business Buyers
Saudi Aramco is preparing a financing package of up to $10 billion that it could offer to buyers of its pipeline business unit, three sources said, as the oil giant seeks to extract value from its assets in an era of lower oil prices.
ADNOC Natgas Pipeline Investors Galaxy Raise $3.92 billion via Bonds
Galaxy Pipeline Assets BidCo, owned by a consortium of investors that took a stake in Abu Dhabi National Oil Company's (ADNOC) natural gas pipeline assets, launched $3.92 billion in a dual-tranche amortizing bond offering on Tuesday, a document showed.
Germany Planning Phased Intro of Hydrogen Pipeline Transport
The initial focus will be on the switching of existing pipelines carrying hydrogen made from fossil fuels to carry "green" hydrogen, which is made from wind and solar energy via electrolysis, and the building of new green hydrogen pipelines.
Siemens Building CO2-Free Hydrogen Plant
Siemens Smart Infrastructure and WUN H2 GmbH signed a contract to build one of the largest hydrogen production plants in Germany. It will be built in Wunsiedel in the north of Bavaria.
U.S. and Canadian Natural Gas Prices Rise During Arctic Freeze
Next-day gas for Monday rose to its highest since December 2018 at the Waha hub in the Permian basin in Texas where some producers were forced to pay others to take their gas when prices turned negative in October.
Alaska Seeks to Build Natgas Pipeline from North Slope to Fairbanks
The proposed $5.9 billion gas pipe would run roughly 500 miles (805 kilometers) from Prudhoe Bay to Fairbanks and could start delivering gas into central Alaska in 2025.
South Africa’s Gas-to-Power Plan to Boost Pipeline Market
South Africa is eyeing the generation of at least 3,000 MW from various gas-to-power technologies by 2027. This trend is likely to increase investments in natural gas exploration, indigenous production and liquefied natural gas (LNG) imports.
Chevron Offers to Buy Out Noble Midstream
Now Noble Midstream's largest customer, Chevron said taking full ownership of the assets will help it streamline their governance and is in line with the producer's long-term interests.
U.S. LNG Exports Exceed Natural Gas Pipeline Exports
U.S. LNG exports exceeded the country's natural gas exports by pipeline in November 2020 for the second time since 1998.
CONSOLIDATION: Mergers and Acquisitions Embrace Oil Patch
Uncertainty begets caution, which can lead to indecision. In the oil patch this eventually can lead to mergers and acquisitions (M&A) or Chapter 11 bankruptcy filings.
Polish Gas Firm PGNiG's LNG Imports Rise 10%
Liquefied natural gas imports by Poland's dominant gas firm PGNiG rose by 10% in 2020 to 3.76 billion cubic meters, as the company continues to look to reduce its reliance on Russian gas, it said on Thursday.
Enterprise Products Misses Profit Estimates as Costs Surge
The COVID-19 pandemic has crushed global fuel demand and ended a boom in U.S. shale production, forcing pipeline companies that run oil from fields to refineries and export terminals to slash fees to ensure customers keep using their networks.
Russia Lawmaker Suggests Taxing Yamal LNG Over Challenging Gazprom
Russia's flagship liquefied natural gas project, privately-owned Yamal LNG, is challenging state gas giant Gazprom in its core European market, and should either be taxed or have a limit put on its sales there, a lawmaker said.
Tumbleweed Midstream Announces 10-Year Helium Sales Agreement
Colorado’s Tumbleweed Midstream announced it has executed a new 10-year helium sales agreement with a global tier one helium supplier, which will allow Tumbleweed to sell up to 10% of its helium production to third-party buyers.
Germany’s Siemens Gutting Natural Gas Jobs Through 2025
Siemens Energy is cutting about 7,800 natural gas jobs until 2025, the company announced as part of its cost-saving initiatives.
Edge LNG Announces New Texas Facility
Edge Gathering Virtual Pipelines 2, a pioneer in delivering low-cost, high quality LNG to market by converting stranded and flared natural gas, unveiled its new facility in Midland, Texas, due to growing demand for its services.
Phillips 66 Announces Midstream Growth Along with Fourth Quarter Loss
Phillips 66 announced an adjusted loss of $507 million in the fourth quarter of 2020, compared to an adjusted third-quarter loss of $1 million.
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- 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
- Boardwalk Approves 110-Mile, 1.16 Bcf/d Mississippi Kosci Junction Pipeline Project
- Kinder Morgan Approves $1.4 Billion Mississippi Crossing Project to Boost Southeast Gas Supply
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- Enbridge Should Rethink Old, Troubled Line 5 Pipeline, IEEFA Says
- Polish Pipeline Operator Offers Firm Capacity to Transport Gas to Ukraine in 2025
