Business & Markets
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.
Brazil's Eneva Restores Normal Gas Flow to Porto de Sergipe I Power Plant
Brazilian power firm Eneva has resumed normal gas supplies to its Porto de Sergipe I thermoelectric plant after replacing part of a pipe that had affected gas flow for nearly three months.
Moldova Breakaway Region Faces Extended Blackouts After Gas Cutoff
The pro-Russian breakaway Moldovan region of Transdniestria, left without Russian gas supplies no longer transiting through neighboring Ukraine, faced longer periods of rolling power cuts on Saturday, local authorities said.
U.S. Winter Storms Threaten Power Outages, Natural Gas Supply Disruptions
Freezing weather and snow storms across the U.S. could cause massive power outages over the next week and boost natural gas demand to its highest levels of the winter, according to energy analysts and reliability coordinators.
Delek Logistics Closes $285 Million Gravity Water Acquisition
Delek Logistics Partners LP has completed its $285 million acquisition of Gravity Water Intermediate Holdings LLC, expanding its midstream capabilities in the Permian Basin.
PacificLight Power Gets Nod for Hydrogen-Ready Gas Power Plant in Singapore
PacificLight Power (PLP) said on Friday it has received approval from the Singapore government to build a new hydrogen-fueled gas power plant on Jurong Island.
Owner Fights for Release of Oil Tanker Seized in Finland's Baltic Cable Damage Probe
The owner of an oil tanker seized by Finland on suspicion of breaking an undersea power line and four telecoms cables in the Baltic Sea last week is seeking the release of the ship, a lawyer representing the company said on Monday.
EIA: U.S. Crude Stocks Drop While Gasoline and Distillate Inventories Surge
U.S. crude stocks fell while gasoline and distillate inventories rose in the week ending December 27, the Energy Information Administration (EIA) said on Thursday.
Fire Extinguished at Valero's Three Rivers Refinery, No Injuries Reported
A large fire was extinguished at Valero's 89,000 barrel per day Three Rivers refinery in Texas on Wednesday evening, local media reported.
Oil Prices Rise as Markets Eye China's Growth Outlook and Geopolitical Risks
Oil prices nudged higher on Thursday, the first day of trade for 2025, as investors returning from holidays cautiously eyed a recovery in China's economy and fuel demand following a pledge by President Xi Jinping to promote growth.
Pembina Completes Kaybob Complex Acquisition, Expands Infrastructure in Karr and Gold Creek Areas
Pembina Pipeline Corp. has completed the acquisition of a 50% working interest in Whitecap Resources Inc.'s 15-07 Kaybob Complex located in Alberta, Canada, as announced by Pembina Gas Infrastructure Inc.
U.S. Oil Executives See Faster Permitting Under Trump: Dallas Fed
U.S. energy executives expect faster permitting times for drilling on federal lands under President-elect Donald Trump, according to a Federal Reserve Bank of Dallas survey released on Thursday.
Four Petroleum Liquids Pipelines Completed in U.S. Since Last Year
Four new petroleum liquids pipelines, including three crude oil projects and one hydrocarbon gas liquids (HGL) pipeline, have been completed in the U.S. since 2023, according to data from the U.S. Energy Information Administration’s (EIA) updated Liquids Pipeline Projects Database.
EPA Issues First Underground Injection Permits for Carbon Storage in California
The U.S. Environmental Protection Agency has issued its first Underground Injection Control Class VI well permits in California, allowing for carbon sequestration at a site in Kern County.
EQT Finalizes $3.5 Billion Midstream JV with Blackstone Credit
EQT Corp. has completed the formation and funding of its midstream joint venture (JV) with Blackstone Credit & Insurance (BXCI), the company announced on Dec. 30.
BP's GTA Project Delivers First Gas for Senegal and Mauritania
The Greater Tortue Ahmeyim (GTA) gas project developed by BP and partners has produced its first gas from an offshore field in Senegal and Mauritania, the two countries' energy ministries said.
Russian Gas Era in Europe Ends as Ukraine Stops Transit
Russian gas exports via Soviet-era pipelines running through Ukraine came to a halt on New Year's Day, marking the end of decades of Moscow's dominance over Europe's energy markets.
Subsea7 Wins IRM Contract for Sakarya Gas Field Offshore Turkey
Subsea7 has been awarded a contract by Turkish Petroleum Offshore Technology Center AS (TP-OTC) to provide inspection, repair, and maintenance (IRM) services for the Sakarya gas field in the Black Sea, the company said on Dec. 30.
BW LPG Finalizes Acquisition of 12 VLGCs from Avance Gas
BW LPG has completed its $1.05 billion acquisition of 12 Very Large Gas Carriers (VLGCs) from Avance Gas Holdings Ltd., following the delivery of the final vessel, BW Avior, on Dec. 31.
Williams Places Transco’s Southside Expansion Project in Service, Adds 423 MMcf/d Capacity
Williams has announced that its Southside Reliability Enhancement project is now fully operational, increasing natural gas capacity in North Carolina and Virginia.
- 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
- Tallgrass to Build New Permian-to-Rockies Pipeline, Targets 2028 Startup with 2.4 Bcf Capacity
- TC Energy Approves $900 Million Northwoods Pipeline Expansion for U.S. Midwest
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- Enbridge Adds Turboexpanders at Pipeline Sites to Power Data Centers in Canada, Pennsylvania
- Great Basin Gas Expansion Draws Strong Shipper Demand in Northern Nevada
- US Poised to Become Net Exporter of Crude Oil in 2023
- EIG’s MidOcean Energy Acquires 20% Stake in Peru LNG, Including 254-Mile Pipeline
