Business & Markets
Oil Plunges Over 20% on Saudi Arabia, OPEC Deal Collapse
Oil futures suffered their biggest daily loss since 1991 on Sunday after Saudi Arabia slashed its official selling price (OSP) and announced plans to raise crude production significantly, signaling the start of a price war.
Brazil's Petrobras to Begin Sales Process for NTS Pipeline Stake: Executive
Brazil’s state-run oil firm Petroleo Brasileiro SA will begin the process this month to sell its 10% stake in gas pipeline firm Nova Transportadora do Sudeste SA (NTS), according to Anelise Lara, the oil company’s director of gas and refining.
Cameron LNG Train 2 Begins Commercial Operation
McDermott International, Inc. has announced the beginning of commercial operation of Train 2 at Cameron LNG, which is jointly owned by affiliates of Sempra LNG, Total, Mitsui & Co., Ltd. and Japan LNG Investment, LLC., following its substantial completion.
Meritage Midstream Commissions New Natural Gas Plant in Powder River Basin
Meritage Midstream announced that its subsidiary, Thunder Creek Gas Services, LLC, has completed commissioning of the Steamboat I processing plant in Converse County, Wyoming, west of the town of Douglas.
Oil Slides as Demand Worries Overshadow OPEC Deal to Deepen Supply Cuts
Oil prices fell on Thursday as the coronavirus epidemic showed no signs of slowing, feeding worries about the global economy and prompting investors to sell more risky assets like stocks and crude oil and park money in safe havens.
Pipeline Upgrades to Increase Natural Gas Flows into New England — EIA
Several natural gas pipeline upgrades are either planned or under construction in New England, which will increase deliverability into the region over the next several years, according to data from the U.S. Energy Information Administration (EIA).
Kinder Morgan Uncertain About Permian Pass Pipeline
U.S. energy company Kinder Morgan Inc said its proposed Permian Pass natural gas pipeline in Texas faced an uncertain future since no customers for the project have been lined up in the current low-price environment.
PetroChina Suspends Gas Contracts as Coronavirus Hits Demand — Sources
PetroChina has suspended some natural gas imports, including LNG and pipeline gas, as a seasonal plunge in demand adds to the impact on consumption from the coronavirus outbreak.
Nigeria to Back $2.59 Billion AKK Gas Pipeline with Sovereign Guarantee
Nigeria will issue a sovereign guarantee to back the bulk of a gas pipeline that is a core part of the government's energy strategy, Finance Minister Zainab Ahmed said on Wednesday.
Poland Ready to Supply Belarus with Oil if Pipeline Upgraded
Poland is ready to supply Belarus with oil, but first needs to invest in its pipelines to enable reverse flows, Poland's minister responsible for energy infrastructure said on Wednesday.
U.S. Crude Oil Production Grew 11% in 2019 — EIA
Annual U.S. crude oil production reached another record level at 12.23 million barrels per day (b/d) in 2019, 1.24 million b/d, or 11%, more than 2018 levels.
U.S. Gas Prices Turn Negative at Texas Waha Hub
Natural gas prices at the Waha hub in the Permian basin in West Texas fell into negative territory, forcing some producers to pay other parties to take their gas.
Tellurian Looking to Cut Costs Amid Weak LNG Demand
Liquefied natural gas (LNG) producer Tellurian Inc said on Monday that it planned to cut spending and was seeking to extend the maturity date of a loan, as it looks to cope with weak demand and low prices for the fuel.
Energy Transfer Announces Supplemental Open Season for Bayou Bridge Pipeline System
Energy Transfer subsidiary, Bayou Bridge Pipeline has launched a Supplemental Open Season to solicit additional shipper commitments for transportation service from Nederland, Texas to Lake Charles, Louisiana through the Bayou Bridge Pipeline System.
ONEOK to Expand Elk Creek Pipeline
ONEOK has announced plans to expand two of its natural gas pipelines by the end of Q1 2020, including the Elk Creek Pipeline.
Trafigura, Phillips 66 Form JV for Deepwater Texas Oil Port
Global commodities trader Trafigura said on Friday it had formed a joint venture with U.S. refiner Phillips 66 to build a major deepwater port in Texas capable of handling supertankers, ditching its own competing project.
Ameren Illinois Continues to Modernize With $8.5 Million Gas System Projects
Ameren Illinois announced additional updates to its natural gas system with $8.5 million in replacement projects scheduled for completion by late October in Springfield and San Jose.
EPIC Announces Completion of Crude Oil Pipeline
EPIC Crude Holdings has announced the successful commissioning of its 30” permanent crude oil pipeline.
China Imports 840 Million Cubic Meters of Gas Through Power of Siberia
China imported 840 million cubic meters of natural gas by Feb. 25 through the "Power of Siberia" pipeline, launched in December, or an average of 10 million cubic meters daily, state-run Xinhua news agency said late Wednesday.
Eversource to Acquire Columbia Gas of Massachusetts Assets for $1.1 Billion
Eversource Energy announced that it has reached an agreement to purchase the Massachusetts natural gas assets of Columbia Gas for $1.1 billion from NiSource.
Williams Seeks to Raise $5 Billion by Selling Stake in Pipelines - Sources
Williams Companies is seeking a partner to invest in a network of its pipelines in the western United States, a deal that could raise close to $5 billion for the Tulsa, Oklahoma-based company, people familiar with the matter said.
ExxonMobil, Indian Oil, Chart Industries to Develop Virtual Gas Pipelines for India
Chart Industries, Inc. has signed a Letter of Cooperation with ExxonMobil India LNG, and Indian Oil Corporation to develop virtual LNG pipelines in India.
Belarus Says More Azeri, Russian Oil Supplies Coming Soon
Belarusian state energy company Belneftekhim has signed a contract with Azerbaijan's SOCAR to receive two cargoes of oil totaling 160,000 tonnes, it said on Wednesday.
Utility to Pay $53M for Fatal Gas Line Explosion
A utility company will pay the largest criminal fine ever imposed for breaking a federal pipeline safety law — $53 million — and plead guilty to causing a series of natural gas explosions in Massachusetts that killed one person and damaged dozens of homes, federal officials said Wednesday.
Venture Global LNG Enters 20-year Supply Deal with Électricité de France
Venture Global LNG Inc said on Tuesday it has entered a 20 year agreement with Électricité de France S.A. (EDF) to supply one million tonnes per annum (MTPA) of liquefied natural gas from its Plaquemines LNG facility in Louisiana.
Cheniere Says Too Early to Gauge Impact of Coronavirus on LNG Market
Cheniere Energy Inc, the biggest U.S. liquefied natural gas company, said on Tuesday it does not expect “significant or prolonged curtailment of U.S. LNG production” as low global gas prices cause some customers to cancel cargoes.
Saudi Aramco Launches Largest Shale Gas Development Outside U.S.
Saudi Aramco is launching the biggest shale gas development outside of the United States to boost domestic gas supply and end the burning of oil at its power generation plants, Chief Executive Officer Amin Nasser told Reuters on Monday.
Williams Cancels N.Y. Constitution Pipeline
Williams Cos Inc said on Monday it canceled the proposed Constitution natural gas pipeline from Pennsylvania to New York following years of opposition from politicians and environmental groups in New York.
U.S. Supreme Court Leans Toward Atlantic Coast Pipeline
A majority of the U.S. Supreme Court on Monday seemed inclined to find that the federal government had authority to grant a right of way for a proposed $7.5 billion natural gas pipeline to cross under the popular Appalachian Trail in rural Virginia.
Phillips 66 Partners Acquires Interest in Liberty Pipeline
Phillips 66 Partners LP has reached agreement with Phillips 66 to acquire its 50% interest in the Liberty Pipeline project for approximately $75 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
