Business & Markets
Despite a Late Surge, Oil Ends 2020 Down 20%
Brent and U.S. crude benchmarks have more than doubled from April's nadir as producers cut output to match weaker demand. News of coronavirus vaccine distributions also bolstered prices in the fourth quarter, helping futures recover to the highest in about 10 months.
Energy Sector Could Get Reprieve from ‘Golden Cross’ Chart Signal
Energy could see its fortunes improve in the new year after its price action surfaced a technical buy signal on the charts on Wednesday. The bullish development in S&P 500 energy sector is called a “golden cross,” which is conventionally defined by technical analysts as the 50-day moving price average rising above the 200-day moving average.
Natixis Sees Deals from Gulf States Monetizing Oil Assets
Natixis expects oil-rich Gulf states to accelerate privatizations, including by extracting revenue from oil assets, with Saudi Arabia and possibly Oman as likely candidates for similar deals next year, the French bank’s regional head said.
Russia’s Gazprom Signs Deal on Gas Prices with Belarus for 2021
Russia and Belarus said the two countries signed a deal on gas prices for 2021, easing tensions between the two former Soviet countries.
LNG Prices Reach 6-Year High as Winter Storm Hits Asia
As an early winter chill grips China, South Korea and Japan, prices for LNG and power are rising due to supply crunches and a surge in demand with more cold weather expected.
Oil Settles Up, Marking 7th Straight Weekly Gain
Oil settled up at a nine-month high on Friday, rounding out seven straight weeks of gains as investors focused on vaccine rollouts and a decline in the U.S. dollar.
Hilcorp Unit Completes BP Alaska Acquisition
Privately held Hilcorp Energy's unit completed a $5.6 billion acquisition of BP's business in Alaska, taking over the region the British oil major had operated in for 60 years.
Court Approves Williams' Deal with Bankrupt Chesapeake
A bankruptcy court has approved Williams' agreement to take ownership of some Chesapeake Energy assets in exchange for accepting lower gas gathering fees.
As Biden Cabinet Takes Shape, API Seeks Voice in Energy, Climate Policy
The American Petroleum Institute on Thursday reached out to the incoming Biden administration to collaborate on climate and energy policy, calling energy a non-partisan issue that modern life depends on.
APGA Focuses on Industry Safety, Advocacy
In this interview, APGA Chairman John Leary discusses the association's priorities for the coming year, helping members who are coping with the coronavirus and engaging the public concerning natural gas and other topics.
Hydrogen: The Future Gas Energy Network
While there is plenty of optimism for hydrogen in these carbon-conscious days, reality also indicates that a lot more R&D is in order to tighten up the technical side and improve the economics.
Uzbekistan to Cut Gas Exports Amid Domestic Shortages
Uzbekistan will cut natural gas exports, which mostly go to China, because of domestic energy shortages, the Central Asian country's energy ministry said on Thursday.
Oil Prices Hit 9-Month High after Inventory Draw
il climbed to a nine-month high on Thursday after government data showed a fall in U.S. crude stockpiles last week, while progress towards a U.S. fiscal stimulus deal and strong Asian demand also buoyed prices.
Lloyd's Steps Back from Oil Sands, Coal in First Climate Change Policy
Lloyd's of London is scaling back its exposure to coal and oil sands, the commercial insurance market said in its first sustainability report, in a reversal of its traditional hands-off approach to climate change strategy.
Abu Dhabi Pipeline Sale May Signal Gulf States Trend
Bankers expect oil-rich Gulf states to accelerate privatizations like Abu Dhabi's pipeline deal, with Saudi Arabia and possibly Oman as likely candidates for asset sales next year.
Eni Lifts Force Majeure on Nigeria's Brass River Crude Exports
taly's oil major Eni said it was lifting force majeure on Nigeria's Brass River crude oil exports on Wednesday after pipelines had been repaired following sabotage.
Lacking Pipelines, U.S. Northeast Gas Prices Jump Ahead of Winter Storm
U.S. Northeast power and natural gas prices for Wednesday jumped to their highest level in almost a year as energy companies prepare for what could be the region's biggest winter storm in years.
Phillips 66 Lowers 2021 Spending Budget
U.S. oil refiner Phillips 66 on Monday set its 2021 capital budget at $1.7 billion, around 43% lower than forecast for the previous year, as the energy industry struggles to recover from the blow of the COVID-19 pandemic.
Pinnacle Midstream II Plans Gathering, Compression System in Midland Basin
Pinnacle Midstream II on Tuesday said it has signed a 15-year gas gathering, processing and purchase agreement with DoublePoint Energy that anchors Pinnacle’s greenfield build of a new natural gas gathering and compression system in the Midland Basin.
Husky Energy Shareholders Approve Sale to Cenovus
Husky Energy Inc said on Tuesday its shareholders approved the company's merger with rival Cenovus Energy Inc to create Canada's No. 3 oil and gas producer,
North Sea Could Shift from Oil Reservoir to CO2 Storage - Total CEO
The North Sea could be switched from a depleting oil and gas basin to a site for storing carbon dioxide under the seabed, Total CEO Patrick Pouyanne said on Tuesday.
Russia's Druzhba Pipeline Exports Set to Slide Amid Price Row
Exports of Russian Urals oil via the Druzhba pipeline are likely to fall in the first quarter as sellers have been pressing for higher crude prices that margin-strapped refiners say they can't afford.
EU Proposes Funding Shift Away From Natural Gas
The European Commission on Tuesday proposed rules to restrict funding for natural gas projects and instead funnel cash into low-carbon technologies to meet climate goals.
OPEC Cuts 2021 Oil Demand Outlook Again as Pandemic Impact Lingers
Global oil demand will rebound more slowly in 2021 than previously thought because of the lingering impact of the coronavirus pandemic, OPEC said on Monday, hampering efforts by the group and its allies to support the market.
Iran Mostly Contains Fire after Landslide Hits Oil Pipeline
Firefighters have contained most of a blaze that broke out after a pipeline carrying crude oil to Iran’s second-largest refinery ruptured due to a landslide, the head of the state company in charge of oil pipelines said.
Britain to End State Support for Fossil Fuel Sector Exports
Britain said it is ending state support for fossil fuel industry exports, and shifting government assistance to low-carbon and renewable energy projects abroad.
Oil Tanker Ablaze after Terrorist Attack Off Saudi Arabia Coast
Saudi Arabia said an oil tanker anchored at a Jeddah terminal was hit by an explosive-laden boat in what it called a terrorist attack, after shipping firm Hafnia said one of its tankers was struck by an "external source".
Nigerian Shell Employees Damaged Pipelines for Profit - Dutch TV
Employees at Royal Dutch Shell’s Nigerian joint venture orchestrated damage to oil pipelines to profit from the money spent on clean-up operations, Dutch investigative TV program Zembla reported.
Russia Restarts Nord Stream 2 Pipeline Construction Despite U.S. Sanctions
Russia has resumed construction of the politically-charged Nord Stream 2 gas pipeline to Germany, laying pipes after a one-year hiatus prompted by U.S. sanctions.
EU May Restrict Support for Natural Gas Projects, Citing Climate Goals
The European Union is planning to restrict its funding for natural gas projects because of the risk they pose to the bloc's climate goals, according to draft rules seen by Reuters.
- 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
