Business & Markets
Brent Rises Above $50 for First Time Since March
Oil prices climbed more than 4% on Thursday, with Brent surging above $50 a barrel for the first time since early March, fueled by hopes of a faster demand recovery as countries start to roll out COVID-19 vaccines.
Midwest Refiners to Pipe More Fuel to East Coast, Pressuring Plants
U.S. Midwest refiners are gearing up to pipe more gasoline and diesel to East Coast buyers, hoping to fill a void created by refinery closures and cutbacks, but likely to add pressure to regional fuel producers.
Trans Adriatic Pipeline Explores Feasibility of Blending Hydrogen
Developers of the Trans Adriatic Pipeline (TAP) have started feasibility studies on blending hydrogen with the natural gas the pipeline will bring in from Azerbaijan, the TAP head said.
EIA: Natural Gas Venting, Flaring Set Records in 2019
U.S. natural gas venting and flaring hit an all-time high of 1.48 Bcf/d last year, with the bulk of those volumes coming from North Dakota and Texas, updated government statistics show.
Kinder Morgan Sees Higher Income in 2021, Raises Dividend
Kinder Morgan Inc said on Tuesday it expects to generate higher income in 2021 and raised its annual dividend, as the pipeline operator cost cuts this year in the face of oil demand destruction.
Enbridge Expects Higher Pipeline Volumes, Rates in 2021
Canadian pipeline operator Enbridge Inc on Tuesday forecast higher core earnings in 2021 and raised its annual dividend, saying it expects to see volume on its Liquids Mainline System improve next year.
U.S. Gas Prices Stumble on Mild Start to Winter
U.S. natural gas prices have tumbled since the start of November as persistent mild weather has caused inventories to remain high rather than drawing down in line with seasonal trends.
China Hits 26% of 2020 Target for U.S. Energy Imports under Trade Deal
China has accelerated imports of crude oil, propane and LNG from the United States since July, but total energy product purchases through October remain far short of targets for 2020 set out in the Phase 1 trade deal with Washington.
China Crude Imports Rise as Backlog Clears
China's November crude oil imports rose from a month earlier as customs continued to clear the backlog, although independent refiners slowed purchases as they reached their import quota limits.
Magellan Midstream Tank Explosion Injures 7 in Corpus Christi
Seven Magellan Midstream Partners employees were injured, four critically, when a storage tank at a Magellan plant in Corpus Christi exploded after catching fire Saturday morning, according to deputy Fire Chief Richie Quintero.
Russian Pipelaying Vessel Stops Near Nord Stream 2 Site
The Russian pipe-laying vessel Akademik Cherskiy stopped on Saturday near the construction site of the Nord Stream 2 gas pipeline in the Baltic Sea, Refinitiv Eikon data showed on Saturday.
Brent Rises, Hovers Near $50/bbl on Hopes for U.S. Stimulus
Brent crude oil futures rose more than 1% on Friday, remaining just under $50 a barrel, as expectations rose for a U.S. economic stimulus package and a possible COVID-19 vaccine.
Minnesota Regulators Deny Request to Delay Line 3 Pipeline
A Minnesota regulatory panel has denied a request to stop Enbridge's Line 3 pipeline project, which broke ground this week after receiving its final state permit.
Uganda Gives Environmental Consent to $3.5B Oil Pipeline
Uganda has granted environmental approval for a $3.5 billion pipeline to export crude oil from western fields to the Indian Ocean coast in Tanzania.
Trump Administration Rule Would Reduce Environmental Reviews of LNG Projects
The U.S. Energy Department issued a rule to exclude some licensing of LNG projects from environmental reviews that have been required by law, in a show of support for the fossil fuel industry.
Brent Rises to Highest Since March after OPEC+ Output Cut Deal
Global benchmark Brent crude prices rose 1% to their highest since early March on Thursday on renewed hopes for a U.S. stimulus deal and after major oil producers agreed to increase output modestly from January.
OPEC+ Agrees to Slight Easing of Oil Cuts from January
OPEC and Russia on Thursday agreed to slightly ease their deep oil output cuts from January by 500,000 bpd but failed to find a compromise on a broader and longer term policy for the rest of next year.
Asia Needs Flexible LNG Deals Not Linked to Oil Prices - India Oil Minister
Asia needs flexible LNG contracts with no links to oil prices to reflect changes to the market as demand recovers from the impact of the coronavirus pandemic, India's oil minister said.
Eni Strikes Deals to Reopen Egypt's Damietta LNG Plant
Italian energy group Eni has struck deals with Spanish gas firm Naturgy and Egyptian partners to resolve disputes over a shuttered gas plant it part owns in northern Egypt.
U.S. Shale Firms Ramp Up Gas Output as Futures Signal Higher Prices
Higher natural gas futures prices for 2021 and a continued glut of crude oil are prodding U.S. shale firms to boost gas drilling and production.
China Launches 685-Mile Section of Natural Gas Pipeline
Operations have started on the middle portion of the China-Russia East natural gas pipeline, allowing natural gas from the Power of Siberia system in Russia to be transmitted to a smog-prone region in northern China.
Magellan Midstream to Boost Loading capacity at Cheyenne Terminal
Magellan Midstream Partners said it will invest $4.65 million to increase truck loading capacity at its refined oil products terminal in Cheyenne, Wyo., by more than 50%.
Mexico Shuts Off Natural Gas Supply to Brazil's Braskem
Mexico has cut off natural gas supply to Braskem's Mexican operations, the company and government said, intensifying a dispute between President Andres Manuel Lopez Obrador and the Brazilian petrochemical company.
Enbridge Starts Construction on Line 3 Pipeline in Minnesota
Enbridge began construction on its Line 3 crude oil pipeline replacement in Minnesota on Tuesday, a day after state regulators approved the final permit for the $2.6 billion project amid legal challenges from lactivist and Indigenous groups.
Fire Shuts Equinor Gas Processing Terminal, Methanol Plant
A fire at Norway's Tjeldbergodden industrial facility on Wednesday triggered an evacuation of staff and the shutdown of Europe's largest methanol plant and a gas processing terminal, state-controlled oil firm Equinor said.
Gassco Changes Make Norway Gas Flows Harder to Gauge - Analysts
Norwegian gas pipeline operator Gassco launched a revamped data website this week that switches away from live physical flows, drawing criticism from analysts who say it has reduced transparency in a key energy market.
U.S. Crude Oil Output Rises to 10.86 MMbpd in September
U.S. crude oil production rose 286,000 barrels per day in September to 10.86 million bpd, as production increases in North Dakota and the offshore Gulf of Mexico offset cuts in Texas.
Keystone XL Adds Contractors for U.S. Spreads
Six U.S. union construction companies from three states were awarded about $1.6 billion in contracts recently to build portions of the Keystone XL crude oil pipeline.
Biden Plan to End U.S. Fossil Fuel Subsidies Faces Big Challenges
President-elect Joe Biden's promise to end U.S. fossil fuel subsidies worth billions of dollars a year could be hard to keep due to resistance from lawmakers in a narrowly divided Congress, including from within his own party.
Simoes Succeeds Gentle as Tellurian CEO
U.S. LNG developer Tellurian said its president and chief executive, Meg Gentle, is leaving the company and will be succeeded by Octavio Simoes, previously executive vice president of LNG Marketing and Business Development.
- 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
