Business & Markets
Russia’s Planned Gas Pipeline to China Faces Construction Delay
Mongolian Prime Minister L. Oyun-Erdene said construction of Russia's planned new Power of Siberia-2 gas pipeline to China, which was expected to start this year, may be delayed.
INGAA Warns of 'Devastating Ripple Effects' Amid Biden’s Halting of LNG Export Terminal Approvals
In response to the decision, Amy Andryszak, president and CEO of INGAA, emphasized the potential consequences, stating, “The administration needs to appreciate that even a ‘pause’ on approvals can potentially cause devastating ripple effects on national security, energy investments, the supply chain, and American workers and consumers."
Power Plant Operator Drax to Launch Carbon Removal Business in Houston
British power plant operator Drax plans to establish an independent business focused on becoming the global leader in delivering large-scale and high-integrity carbon removal.
Biden Halts LNG Export Approvals Amid Climate Pressure, Imperils Projects
President Joe Biden has paused approvals for pending and future applications to export LNG from new projects on Friday, a move cheered by climate activists that could delay decisions on new plants until after the Nov. 5 election.
Freeport LNG Faces Month-Long Unit Outage Due to Winter Storm
Freeport LNG expects one of the three gas liquefaction units at its Texas plant to be out of service for a month after it faced a technical issue during Winter Storm Heather, the company said on Friday.
Sources: Biden to Announce Delay on New LNG Export Terminal Approvals
The Biden administration is expected to announce on Friday that it will begin considering climate impacts in its approvals of new LNG exports, a process that will likely delay decisions on new terminals until after the Nov. 5 presidential election, two sources familiar with the matter said.
Seaside LNG Achieves First In-Port Ship-to-Ship LNG Bunkering Delivery in Galveston
This operation marked the first in port ship-to-ship LNG bunkering delivery not only in Galveston but also along the entire U.S. Gulf Coast.
Texas LNG Receives Regulatory Approval for Final Investment Decision
Texas LNG, a subsidiary of Glenfarne Energy, obtains permits for its 4 MMtpa LNG export terminal in the Port of Brownsville, Texas, marking a crucial step towards a final investment decision.
Valero Energy's Quarterly Profit Slips on Weak Fuel Prices
Valero Energy reported a fall in quarterly profit on Thursday, kicking off earnings for U.S. refiners on a feeble note, as a slowdown in fuel demand hurt margins.
White House Pauses Decision on Louisiana LNG Export Terminal
The Biden administration is delaying a decision on a Louisiana LNG export project that would be the United States' largest, but which has raised the ire of environmentalists, the New York Times reported on Wednesday.
EnCap Eyes $5 Billion Sale of Bakken Shale Producer Grayson Mill
Private equity firm EnCap Investments is exploring a sale of Grayson Mill Energy that could value the Bakken shale-focused oil and gas producer at around $5 billion, inclusive of debt, people familiar with the matter said on Thursday.
Germany's SEFE Eyes Global LNG Expansion After Securing $55 Billion Gas Deal in Norway
Fresh from clinching a $55 billion pipeline gas deal in Norway last month, Germany's SEFE is looking for more suppliers to offer liquefied natural gas (LNG) for its customers, its CEO told Reuters on Thursday.
NextEra Energy Posts Fourth-Quarter Profit, Helped by Lower Gas Prices
The power company, which makes most of its electricity from natural gas, benefited from lower natural-gas prices, which fell about 14% in the quarter from the third quarter, on ample storage and a milder-than-expected winter.
Kinder Morgan Remains Bullish on Natural Gas Demand Growth
Kinder Morgan said on Wednesday it continues to have a bullish outlook for natural gas demand banking on higher demand from LNG export facilities and increased exports to Mexico.
India Approves $1.02 Billion in Incentives for Coal Gasification
India's cabinet on Wednesday approved plans to provide incentives worth $1.02 billion for projects to convert coal into gas, the coal and mines minister said, as it seeks to reduce its reliance on imported fuel.
EIA: U.S. Crude Stockpiles Slump, Gasoline Builds Amid Winter Storms
U.S. crude oil stockpiles slumped while gasoline inventories jumped last week after winter weather hit crude production and imports, refining, and demand for fuel, the Energy Information Administration said on Wednesday.
U.S. Oil Refiners Ask EPA to Limit Participation in Renewable Fuel Credit Market
U.S. oil refiners have asked President Joe Biden's administration to reform the renewable fuel credit program by restricting who can participate, claiming the current trading environment allows market manipulation and raises fuel costs.
Chevron's Duvernay Shale Sale Expected to Attract Mid-sized Canadian Shale Operators
As Chevron Corp. markets its Duvernay shale assets, the U.S. oil major is most likely to find a buyer among a handful of mid-sized Canadian firms that are boosting investment in a region that has yet to fulfil its potential, analysts said.
Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
The London-listed oil and gas explorer said the start-up of Jubilee Southeast offshore Ghana drove production and boosted 2023 cash flow ahead of its expectations.
Oilfield Firm Baker Hughes Beats Profit Estimates on International Demand, LNG Bets
U.S. oilfield technology firm Baker Hughes beat Wall Street estimates for fourth-quarter profit on Tuesday, powered by strong demand for its services and equipment from LNG producers, as well as offshore and international markets.
Japan's 2023 Preliminary LNG Imports Down 8% to Lowest in 14 Years
Japan's LNG imports fell by 8% to 66.2 million metric tons last year to the lowest since 2009, preliminary data from the Ministry of Finance showed, following nuclear power restarts and increased use of renewable energy.
Canada Regulators Face Activist Ire for Trans Mountain Variance Approval
Environmental activists say the CER's conditions around the materials Trans Mountain can use to build the smaller section of pipe are too lenient. However, there is little they can do at this stage to block the approval.
BP Sees Trinidad Deepwater Gas Project Getting Greenlight by 2025
BP expects the Calypso deepwater natural gas field off Trinidad and Tobago, which it shares with Woodside Energy, to get the greenlight when a final investment decision (FID) is made as early as the end of next year, a company executive said.
Petronas Seeks Fiscal Incentives to Develop Suriname Gas Project
Suriname should boost incentives for energy companies looking to develop oil and gas discoveries, said Zamri Baseri, head of Malaysia's Petronas in the South American country.
Ust-Luga Port in Russia Continues Crude, Fuel Exports Despite Novatek Terminal Closure
The Baltic Sea port of Ust-Luga was exporting crude oil and fuel on Tuesday apart from at Novatek's terminal which remained closed after being damaged by fire, according to data from LSEG and industry sources.
Energy Transfer Does Not Expect Shutdown of Dakota Access Oil Pipeline
Energy Transfer does not expect the U.S. Army Corps of Engineers to shut down the Dakota Access oil pipeline (DAPL) after a long-pending environmental review of a section that runs under a lake and is opposed by nearby Native American tribes.
Trinidad in Talks with Europe to Supply Venezuelan LNG
Trinidad and Tobago has begun talks with some European countries on the supply of LNG produced from Venezuelan gas, Prime Minister Keith Rowley said on Monday.
Saudi's SABIC Gives Go-Ahead for $6.4 Billion Petrochemical Plant in China
Saudi Basic Industries Corp. (SABIC) will go ahead with building a petrochemical complex in southeastern China's Fujian province, the company said in an exchange filing on Sunday, shoring up Saudi ties with China, the world's top oil importer.
Gasunie Initiates 746-Mile Hydrogen Network Construction in the Netherlands
Gasunie has initiated the construction of a national hydrogen network in the Netherlands. This $1.6 billion project, commissioned by the Dutch government, aims to establish a comprehensive hydrogen infrastructure covering 1,200 kilometers (746 miles).
Enterprise Products Partners to Receive Sea Port Oil Terminal License in Q1 2024
Enterprise Products Partners expects to receive an export license for its Sea Port Oil Terminal (SPOT) in the first quarter of 2024 versus by the end of 2023, as previously expected, a company executive said on Monday.
- Keystone Oil Pipeline Resumes Operations After Temporary Shutdown
- Freeport LNG Plant Runs Near Zero Consumption for Fifth Day
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
- Mexico Seizes Air Liquide's Hydrogen Plant at Pemex Refinery
- Enbridge to Invest $500 Million in Pipeline Assets, Including Expansion of 850-Mile Gray Oak Pipeline
- Venezuela Proposes Alternative Payment Plan as Weak Bids Surface in Citgo Auction
- Baker Hughes Wins Contract for Huge Aramco Gas Expansion Project
- Enbridge Picks Contractors for Great Lakes Tunnel Project, Securing Line 5 Pipeline Route
- Russia's Gazprom Sees Worst Loss in Decades as European Gas Sales Collapse
