Business & Markets
Britain’s Gas Storage Worries Rise as Levels Dip to Less Than a Week's Supply, Centrica Warns
Britain's gas storage levels are worryingly low, with less than a week's worth of gas in storage after a cold snap, energy company Centrica said on Friday while the government said there was no need for concern.
AGDC and Glenfarne to Develop $44 Billion Alaska LNG Project, Including 807-Mile Pipeline
The Alaska state's Alaska Gasline Development Corporation (AGDC) entered into an exclusive agreement with developer Glenfarne to advance the Alaska LNG project, an AGDC spokesperson said on Friday.
Norway Gas Exports Near Record 2024 Levels, Forecasts Show Continued Strength
Norway exported a record amount of natural gas in 2024, and volumes are expected to stay near this level in the coming years, official data and forecasts showed on Thursday.
U.S. Senate Panel to Hear Trump Energy Nominees Next Week
The U.S. Senate energy committee will hold nomination hearings for President-elect Donald Trump's picks for energy roles on Tuesday and Wednesday next week, the panel's chairman said on Thursday.
TotalEnergies to Pay $5 Million in U.S. FERC Natural Gas Manipulation Settlement
A unit of French energy company TotalEnergies agreed to pay $5 million to settle claims by U.S. energy regulators that it and some of its traders allegedly manipulated the natural gas market in 2009-2012.
Howard Energy Acquires 120-Mile Bidirectional Ethylene Pipeline from EPIC Midstream
Howard Energy Partners (HEP) has acquired EPIC Midstream Holdings’ 120-mile ethylene pipeline, strengthening its presence in the Gulf Coast region.
U.S. Oil Inventories at Cushing Storage Hub Drop to Lowest in a Decade
U.S. crude inventories at the country's flagship storage hub in Cushing, Oklahoma, fell to their lowest in over a decade amid strong refining activity and a year-end tax measure, data from the government's energy statistics arm showed on Wednesday.
Caspian Pipeline Consortium Lowers 2024 Oil Export Forecast Again
The Caspian Pipeline Consortium (CPC), which exports Kazakhstan's oil via the Black Sea, was seen pumping 64.4 million metric tons of oil in 2024 in a latest estimate, further downgrading its exporting prospects, according to a shareholder.
Nord Stream 2 AG Receives Extension for Debt Restructuring Deadline
A court in Switzerland has extended the deadline for Nord Stream 2 AG, a unit of Russia's Gazprom, to restructure its debts to May 9 from Jan. 10, according to a court ruling.
Philippines Encourages LNG Importers to Aggregate Purchases to Lower Prices
The Philippines is encouraging importers of liquefied natural gas (LNG) to voluntarily aggregate purchases of the super-chilled fuel in efforts to lower prices and improve market efficiencies, government officials said on Wednesday.
Expand Energy on Track for 7 Bcf/d Gas Output by 2025, CEO Says
Expand Energy, the biggest U.S. natural gas producer, remains on track to boost output to around 7 billion cubic feet per day (Bcf/d) in 2025, CEO Nick Dell’Osso said at the Goldman Sachs Energy, CleanTech & Utilities Conference on Tuesday.
U.S. Natural Gas Futures Surge 6% on Freezing Wells, Northeast Price Spike
U.S. natural gas futures jumped about 6% in another volatile day of trade on Wednesday on forecasts for more heating demand than previously expected and as freezing wells cut output.
Chevron Eyes $6-8 Billion Free Cash Flow Growth in 2024, CEO Says
Chevron is positioned to increase its free cash flow by $6 billion to $8 billion by next year, and reduce expenses by "a couple billion dollars," said Chevron CEO Michael Wirth on Wednesday.
Constellation Nears $30 Billion Deal for Natural Gas Company Calpine: Bloomberg
Constellation Energy is nearing an acquisition of Calpine Corp. that would value the company at about $30 billion including debt, Bloomberg News reported on Wednesday, citing people familiar with the matter.
Equinor Extends Hammerfest LNG Outage to Jan. 19 Due to Compressor Repairs
Equinor has extended an ongoing outage at its Hammerfest LNG plant in Arctic northern Norway by 10 days to Jan. 19 as it continues to repair a failed compressor, the company said in a regulatory filing on Wednesday.
EnCap Flatrock Midstream Nets $800 Million in Plains All American Transactions
EnCap Flatrock Midstream (EFM) has finalized agreements to sell Ironwood Midstream Energy Partners II and its Plains Series A Preferred Units to Plains All American for over $800 million in cash.
Shell Faces Shareholder Scrutiny Over LNG Strategy and Climate Goals
Shell's plans to increase sales of liquefied natural gas (LNG) have been called into question by a major group of shareholders that has filed a resolution asking whether the strategy is compatible with a goal to cut carbon emissions.
South Sudan Plans Crude Oil Restart Amid Regional Recovery Efforts
South Sudan aims to resume oil production at its Blocks 3 and 7 on Jan. 8 with an initial output target of 90,000 barrels per day, Petroleum Minister Puot Kang Chol said on Tuesday.
Trump Plans Immediate Reversal of Biden's Offshore Drilling Restrictions
U.S. President-elect Donald Trump said on Tuesday he will move quickly to revoke an offshore oil and gas drilling ban announced by outgoing Democratic President Joe Biden.
OMV Strikes Deal to Deliver Romanian Gas to Germany Amid Energy Shift
Austria's OMV has struck a deal to supply Germany's Uniper with gas from its Black Sea project from 2027, three people familiar with the matter told Reuters, as Europe seeks new ways to boost energy security after cutting ties with Russia.
Enbridge Should Rethink Old, Troubled Line 5 Pipeline, IEEFA Says
A new report from the Institute for Energy Economics and Financial Analysis (IEEFA) questions the financial and strategic viability of Enbridge Energy’s proposed tunnel project to replace an aging section of the Line 5 pipeline under the Straits of Mackinac.
Trump Vowed Swift LNG Approvals, but Advisers Urge Patience to Avoid Legal Pitfalls
Advisers to U.S. President-elect Donald Trump are urging him to take a patient approach to restarting approvals for liquefied natural gas export licenses, fearing rapid approvals will only get overturned in court, according to two sources familiar with the discussions.
Biden Bans Offshore Drilling in Vast U.S. Waters Before Trump Term
U.S. President Joe Biden will ban new offshore oil and gas development along most U.S. coastlines, a decision President-elect Donald Trump, who has vowed to boost domestic energy production, may find difficult to reverse.
Asia’s Crude Imports Fall in 2024 Amid Weak China Demand
Asia's crude oil imports dropped in 2024, the first annual decline in three years, led by weak demand from heavyweight China and other major buyers, with only India managing sparse growth.
Nicor Gas Launches First Renewable Natural Gas Interconnection in Illinois
Nicor Gas has announced its first renewable natural gas (RNG) interconnection with Air Liquide's largest RNG facility globally. The facility, located in Rockford, Illinois, converts biogas from the nearby Winnebago Landfill into energy via the Nicor Gas delivery system.
Sudan Resumes Oil Exports to Port Sudan, Lifts Force Majeure on Pipeline
Sudan has lifted a nearly year-long force majeure on the transport of crude oil from its neighbor South Sudan to a port on the Red Sea after security conditions improved, according to a letter seen by Reuters on Monday.
Diversified Energy Expands Midstream Assets in Appalachia with $45 Million Acquisition
Diversified Energy Company PLC has announced a $45 million acquisition of natural gas properties and midstream facilities in Virginia, West Virginia, and Alabama. The assets were purchased from Summit Natural Resources and are expected to close during the first quarter of 2025.
U.S. Natural Gas Prices Surge 10% as Winter Storms Hit Output and Demand
U.S. natural gas futures soared about 10% to a one-week high in volatile trade on Monday as winter storms battered the eastern half of the country, causing output to decline as some oil and gas wells and pipes froze.
Central Europe Adjusts Gas Flows as Ukraine Transit Halts
Central European gas flows have adapted to the halt of Russian supplies through Ukraine on Jan. 1, as increased shipments to the region from Germany and Italy make up the shortfall, data from network operators showed on Monday.
Inpex Restores Typhoon-Damaged Gas Pipelines in Japan
Inpex Corp. has completed restoration work on its natural gas trunk pipeline network in Japan, addressing damage caused by Typhoon Hagibis in October 2019.
- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Boardwalk’s Texas Gas Launches Open Season for 2 Bcf/d Marcellus-to-Louisiana Pipeline Expansion
- Tallgrass to Build New Permian-to-Rockies Pipeline, Targets 2028 Startup with 2.4 Bcf Capacity
- New Alternatives for Noise Reduction in Gas Pipelines
- EIG’s MidOcean Energy Acquires 20% Stake in Peru LNG, Including 254-Mile Pipeline
- Construction Begins on Ghana's $12 Billion Petroleum Hub, But Not Without Doubts
- DOE Considers Cutting Over $1.2 Billion in Carbon Capture Project Funding
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
