Business & Markets
Saudi Attacks Raise Spectre of $100/barrel Oil: Analyst View
The oil market will rally by $5-10 per barrel when it opens on Monday and may spike to as high as $100 per barrel if Saudi Arabia fails to quickly resume oil supply lost after attacks over the weekend, traders and analysts said.
Major Saudi Oil Sites Hit in Drone Attacks
Drones claimed by Yemen’s Houthi rebels attacked the world’s largest oil processing facility in Saudi Arabia and a major oilfield operated by Saudi Aramco early Saturday, sparking a huge fire at a processor crucial to global energy supplies.
U.S. Agency Commits $688 Million to Projects in Argentina
The U.S. government's development finance institution has approved four projects worth $688 million in Argentina, including oil and gas transportation and processing infrastructure for the Vaca Muerta field.
Total Seeks Buyer for Tainted Russian Piped Oil
France's Total has issued a tender to sell 1.3 million barrels of contaminated Russian Urals crude oil for loading from Rotterdam port, according to three trading sources.
U.S. Oil Production Still Near Record High, but Growth Slowed
U.S. crude production remained close to a record level in June but growth has slowed significantly since the end of last year in response to lower oil prices and the slowdown is set to extend into 2020
Gas Prices Forecast to Fall to '70s Levels on Pipeline Oversupply
An oversupply of natural gas in the United States from new pipelines will drive average prices at the Henry Hub benchmark to a level not seen since the 1970s, according to a report from IHS Markit on Thursday.
TurkStream 2nd String to Cross Bulgaria, Serbia, Hungary
The second leg of the TurkStream gas pipeline is planned to go through Bulgaria, Serbia and Hungary, Russian Energy Minister Alexander Novak announced, as Moscow prepares to phase out gas transit to Europe via Ukraine.
Blue Mountain Launches Open Season for Gathering Systems
Blue Mountain Midstream announced its Wildcat subsidiaries launched an open season for new crude oil and water gathering systems and services in central Oklahoma.
Jobs Fall as Shale Boom Cools
U.S. oil and gas employment has started to fall as producers and service companies respond to the sharp decline in prices since the fourth quarter of 2018.
Kinder Morgan Closer to 3rd Permian Pipeline
Kinder Morgan is “moving along” with plans for a third major pipeline project from the Permian Basin – the newly named Permian Pass, which would deliver natural gas from West Texas to the Sabine area of the East Texas-Louisiana Gulf Coast, CEO Steven Kean said.
Plains All American to Remove Steel Tariff Surcharge on Cactus II
Plains All American Pipeline filed with U.S. regulators to remove a proposed surcharge on its Cactus II oil pipeline, tacked on as a result of the Trump administration’s tariff on imported steel.
EU to Push for Progress in Ukraine-Russia Gas Talks
The European Union will do all it can to facilitate talks next week between Ukraine and Russia on future gas transits after their contract expires in January, the bloc's energy commissioner said on Wednesday.
Mexico Gets Deal with Final Holdout Firm in Pipeline Contract Dispute
Mexico's government has reached a deal with infrastructure firm Fermaca in its renegotiation of natural gas pipeline contracts signed under the last government, Mexican President Andres Manuel Lopez Obrador said on Wednesday.
Pipelines Emerging in Africa’s Quest for Gas Power
Despite the many advances in the electrification of Africa, much of the continent has yet to be connected to the grid or have access to reliable and affordable power supplies. According to World Bank figures, Africa’s electrification rate is just 42%.
Natural Gas-Burning Power Plant Operations Vary During Cold Weather
Power generation in New England and New York is largely dependent on natural gas, which accounts for more than half of the region’s electricity generating capacity.
New Pipelines Open Permian Tap as Demand Outlook Grows Cloudy
After scrambling to catch up with fast-growing Permian Basin crude oil production, pipeline operators appear to be entering a period of excess takeaway capacity with the completion of new and expanded systems this year.
PHMSA Likely to Accelerate LNG Rail Shipments
Environmentalists are broadening their opposition to natural gas transportation beyond pipelines by opposing the shipment of LNG on rail cars.
South Africa Targets First LNG Import Terminal by 2024
State-owned freight logistics firm Transnet plans to launch a tender next year for South Africa’s first terminal to import liquefied natural gas (LNG) at Richards Bay port, with first gas expected to land in 2024, a senior official said.
Israel Expects to Begin Gas Exports to Egypt By Year End
Israel’s Delek Drilling said it has completed testing of a subsea natural gas pipeline to Egypt and expects to begin exports by year end. That schedule was reaffirmed by Israeli Energy Minister Yuval Steinitz, who told Reuters in late July that gas exports to Egypt would begin within four months.
Gazprom Signs 5-Year Natural Gas Deal with Turkmenistan
Gazprom has signed a five-year contract with Turkmengaz to purchase natural gas, the Russian gas producer sad.
Trafigura's U.S. Crude Exports Account for Over a Quarter of U.S. Total
Commodity trader Trafigura's exports of U.S. crude now account for over a quarter of the country's total since the new Cactus II pipeline started last month, the company's co-head of oil said, making the firm the single biggest exporter.
EU's Top Court Curtails Gazprom Access to Nord Stream Pipeline Link
Europe's top court on Tuesday overruled a 2016 EU decision allowing Russia's Gazprom to ship more gas via the Opal gas pipeline, which links the company’s Nord Stream pipeline to Germany.
India, Nepal Open South Asia’s First Cross-Border Oil Pipeline
India and Nepal officially opened South Asia's first cross-border oil pipeline on Tuesday, a project seen as part of New Delhi's efforts to increase its influence in the Himalayan nation where China is also making deep inroads.
China's August Crude Imports Rise Amid Fuel Surplus
China's crude oil imports gained about 3% in August from a month earlier, customs data showed on Sunday, buoyed by a recovery in refining margins despite a persistent surplus of oil products and tepid demand.
Putin Pushes For Potential Gas Pipeline Through Mongolia
Russian President Vladimir Putin told the head of state-controlled Gazprom to consider making Russian gas exports to China via Mongolia, the Kremlin said on Monday.
Pipeline Operator EMG Signs Terminal Deal for Israel-Egypt Gas Exports
The East Mediterranean Gas (EMG) pipeline operator signed a deal to use a terminal belonging to Israel’s Europe Asia Pipeline Company (EAPC) for the export of natural gas to Egypt, the companies said on Sunday.
Sources: Italy's Snam Seeks U.S. Footprint With Bid for Midwest Gas Pipeline
Italy’s Snam is working on a bid for a stake in a $6 billion natural gas pipeline in the United States in what would be the gas group’s first foray outside Europe, four sources told Reuters.
Freeport LNG Ships First Commissioning Cargo From Texas Facility
The Freeport liquefied natural gas (LNG) project in the United States has shipped its first commissioning cargo, adding to the glut of supply of the super-chilled fuel globally.
Shell Delays U.S. Lake Charles LNG Export Project to 2025
Royal Dutch Shell has asked to extend the time by which it should complete its planned LNG export project in Louisiana with partner Energy Transfer by five years to 2025, regulatory filings showed.
Texas Waha Gas Prices Rise Ahead of Gulf Coast Pipeline Start-Up
Spot natural gas prices at the Waha hub in the Permian basin in West Texas rose to their highest since March as Kinder Morgan Inc’s new Gulf Coast Express pipeline prepares to enter service over the next month.
- 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
