Business & Markets

Mexico's Oil and Gas Output Hits Yearly Low in November, Falling Short of Targets

November was also the second month the country missed the 1.8 million barrel-per-day production target for crude oil and condensate, which President Claudia Sheinbaum has vowed to maintain during her six-year term.

Kazakhstan Boosts Oil Supplies to Germany via Druzhba Pipeline in December

Kazakhstan's pipeline operator Kaztransoil said on Tuesday that oil supplies to Germany via the Druzhba pipeline will be increased to 135,000 metric tons (32,000 barrels per day) this month from the planned 130,000 tons.

Oil Prices Edge Higher on Cooling U.S. Inflation, Economic Policy Hopes

Oil

Oil prices inched higher on Monday, along with other risk assets, after U.S. data showed cooling inflation, reviving hopes of further policy easing next year that will support global economic growth and oil demand.

U.S. Natural Gas Demand for LNG Exports Drops for First Time in 8 Years

Demand for U.S. natural gas to produce liquefied natural gas (LNG) for export this year is headed for its first decline since the country started exporting the super-chilled fuel from the lower 48 states eight years ago.

Venture Global LNG Seeks Force Majeure Extension to 2025, IPO Filing Reveals

Venture Global LNG wants to extend the force majeure at its Calcasieu Pass liquefied natural gas plant in Louisiana to 2025, delaying first supplies under long-term contracts to three years after starting production, according to its initial public offering document.

Japan Gas Lobby Calls for Diplomacy to End LNG Destination Clauses

The head of the Japan Gas Association on Friday urged the government to enhance diplomatic efforts to eliminate destination clauses in long-term liquefied natural gas (LNG) contracts, ensuring flexibility for resale in response to demand trends.

Oil Flow via Russia’s Druzhba Pipeline Halted by Technical Issues

Russian and Kazakh oil flows to Hungary, Slovakia, the Czech Republic and Germany via the Druzhba pipeline have stopped since Thursday due to technical problems at a Russian pumping station, four people familiar with the matter said.

McDermott Opens Advanced Pipeline Welding and Technology Hub in Dubai

McDermott has inaugurated a state-of-the-art welding and technology center at the Oilfields Supply Center in Dubai's Jebel Ali Freezone. The 4,100-square-meter facility, designed for research, development, and qualification, can accommodate up to 250 personnel.

U.S. Natural Gas Prices Surge 5% to 23-Month High on Colder Forecasts, Rising LNG Feedgas

U.S. natural gas futures jumped about 5% to a 23-month high on Friday on early forecasts for much colder weather in mid-January that could freeze oil and gas wells and lift spot prices by reducing output as in past years.

Woodside’s Pluto Train 2 Modules Arrive, Scarborough LNG Project Advances

The Scarborough Energy Project achieved a major milestone with the final modules for Pluto Train 2 arriving at the Pluto LNG facility in Karratha, Western Australia. This development brings Woodside Energy closer to its goal of delivering first LNG by 2026.

APGA Chair Focuses on Safety, Lines of Communication

Pipeline & Gas Journal presents an exclusive profile of Kathy Garcia, APGA Chair and CPS Energy executive. With over 6,000 miles of underground pipelines under her purview, Garcia shares insights on APGA’s priorities, infrastructure growth, and natural gas advocacy, emphasizing collaboration and innovation in the energy sector.

Energy Transfer Signs 20-Year LNG Deal with Chevron for Lake Charles Project

Under the agreement, the unit, Energy Transfer LNG, will supply 2.0 million tonnes per annum (mtpa) of LNG to Chevron from the Lake Charles project in Louisiana.

DNR Investigates 70,000-Gallon Oil Spill from Enbridge’s Line 6 Pipeline in Wisconsin

The Wisconsin Department of Natural Resources (DNR) is investigating a significant crude oil spill along Enbridge Energy’s Line 6 pipeline in Jefferson County, Wisconsin, near the town of Oakland, about four miles east of Cambridge.

Kinder Morgan Approves $1.4 Billion Mississippi Crossing Project to Boost Southeast Gas Supply

Tennessee Gas Pipeline, a Kinder Morgan subsidiary, greenlights the 206-mile Mississippi Crossing Project, set to deliver up to 1.5 Bcf/d to Southeast U.S. markets by 2028.

Oil States Sells Houston Ship Channel Facility for $24.8 Million

Oil States International Inc. has finalized the sale of its idled Houston Ship Channel facility, generating $24.8 million in net proceeds. The sale is part of the company’s broader strategy to optimize its operations and improve financial flexibility.

Matador Closes $600 Million Pronto Midstream Deal, Strengthens Balance Sheet

Matador Resources Company has finalized the contribution of its wholly-owned subsidiary, Pronto Midstream, LLC, to its midstream joint venture, San Mateo Midstream, LLC. The deal values Pronto at approximately $600 million and brings San Mateo's total estimated asset value to over $1.5 billion, net to Matador.

YPF and Shell Partner to Advance $50 Billion Argentina LNG Project

Argentina's state-run oil company YPF and oil major Shell signed an agreement to develop the country's flagship liquefied natural gas (LNG) project, the companies said on Thursday.

PDVSA and Reliance Resume Oil Swap with U.S. Approval, Document Reveals

Venezuela's state oil company PDVSA and India's Reliance Industries have resumed an oil swap that had been paused due to U.S. sanctions on the South American country, an internal PDVSA document seen on Thursday showed.

Oil Prices Rise on Falling U.S. Crude Stocks, Fed's 2025 Rate Plan Caps Gains

Oil prices rose slightly on Thursday, supported by falling U.S. crude inventories, though gains were limited after the U.S. Federal Reserve signaled it would slow the pace of interest rate cuts in 2025, a move that could dampen economic growth, reduce fuel demand, and strengthen the dollar.

Chevron, Woodside Agree to Western Australia LNG Asset Swap

Woodside and Chevron said on Thursday they would streamline oil and gas operations in Western Australia through a stake swap deal, a move resulting in the Australian energy giant exiting the $34 billion Wheatstone LNG project.

North Dakota Oil Facilities Slow to Come Back Online After October Wildfires

Oil operators in North Dakota, the third-largest producing state in the U.S., are still bringing some facilities back online after wildfires swept through key oil-producing counties in October, the state's Industrial Commission said on Wednesday.

Texas Connector Pipeline Seeks Route Cuts, Compressor Upgrades in FERC Filing

Texas Connector Pipeline LLC has filed for approval to amend its Texas project, focusing on changes to routing and compression capacity. The revisions aim to improve the efficiency of the pipeline system in Jefferson and Orange counties, with a decision expected in 2025.

U.S. Keeps LNG Exports Crown, Even as Growth Slows

The U.S. is set to maintain its LNG exports crown in 2024, with shipments climbing to new highs despite challenges like falling export prices and a drop in European demand. As global LNG prices rise, U.S. exporters look to offset losses with increased sales to Asia.

Glass Lewis Backs Martin Midstream's Buyout Deal with Martin Resource

Martin Midstream Partners said on Wednesday that proxy advisory firm Glass Lewis has recommended the energy infrastructure firm's unitholders to vote for the company's proposed buyout deal with Martin Resource Management Corp.

Pacific Northwest Hydrogen Hub Formalizes Agreement with Mitsubishi Hydrogen Infrastructure

The agreement enables MHI H2I’s Boardman Hydrogen Hub project to access federal funding under the U.S. Department of Energy’s (DOE) H2Hubs Program, a major initiative to decarbonize the U.S. energy sector.

U.S. Imposes New Sanctions on Entities Linked to Nord Stream 2 Pipeline

The United States issued fresh sanctions on Wednesday on several Russia-based entities over their involvement in the Nord Stream 2 gas pipeline, the State Department said, including new measures against the operator of the project.

U.S. Natural Gas Prices Rise 2% on Increased LNG Exports, Cold Weather Demand

U.S. natural gas futures climbed about 2% on Wednesday on rising flows to the nation's liquefied natural gas (LNG) export plants and expectations utilities pulled more gas out of storage than usual to heat homes and businesses during extreme cold for a second week in a row last week.

Gazprom Delivers First LNG Cargo to Italy Amid Rising Sea-Borne Exports

Russian energy giant Gazprom has delivered its first cargo of liquefied natural gas (LNG) to Italy from LNG Portovaya plant on the Baltic Sea, LSEG data showed on Wednesday.

EIA: Henry Hub Natural Gas Prices Hit Record Lows in November

The Henry Hub daily natural gas spot price fell to an all-time low of $1.21 per million British thermal units (MMBtu) on Nov. 8 and Nov. 11, in inflation-adjusted dollars, according to the U.S. Energy Information Administration (EIA).

Consumers Energy Plans $248 Million Upgrade to Michigan's Natural Gas System

Consumers Energy has unveiled plans to modernize Michigan's natural gas infrastructure, including replacing up to 10,000 aging service lines and installing remote-control valves on major pipelines to enhance safety and efficiency.