Business & Markets
Oil and Gas Company Founded by Aubrey McClendon to Close
OKLAHOMA CITY (AP) — American Energy Partners, the Oklahoma City-based oil and natural gas company founded by the late energy tycoon Aubrey McClendon, is shutting down. The company’s leadership team released a statement Wednesday saying it had decided to wind down operations but the five independen..
After Merger Called Off in Energy Sector, Another Arises
NEW YORK (AP) — FMC Technologies will attempt to merge with Technip in an all-stock deal worth about $13 billion to create a larger player in the energy services sector. The shareholders of each company would own about 50 percent of the combined company, which would be named TechnipFMC. It would ha..
Many Natural Gas-Fired Power Plants Being Built Near Shale Plays
Natural gas-fired power generation increased 19% in 2015, because of low natural gas prices, increased gas-fired generation capacity, and coal power plant retirements. EIA’s May 2016 Short-Term Energy Outlook forecasts that this year, natural gas-fired generation will exceed coal generation in the U..
Greek Pipeline Breakthrough to Challenge Russian Gas Dominance
After years of debate, political jockeying and acrimony, a major pipeline project to bring natural gas to Southern Europe has broken ground. The Trans-Adriatic Pipeline (TAP) will connect the Caspian Sea to European markets, providing Europe with another large source of natural gas that will help t..
Oryx Launches Open Season for Extension of Trans Permian System
Oryx Midstream Services subsidiary Oryx Southern Delaware Oil Gathering and Transport launched an additional binding open season to secure volume commitments and acreage dedications in support of the extension of the Oryx Trans Permian (OTP) pipeline system. The crude oil gathering and transportati..
Norway Offers New Offshore Drilling Licenses in Barents Sea
TROMSOE, Norway (AP) — Norway awarded on Wednesday 10 new licenses for offshore oil and gas exploration in the Barents Sea, including three in previously untouched waters near the Russian border. The Oil Ministry said it is the first time new acreage has been opened for drilling in Norwegian waters..
China’s Oil Industry Is Faltering, Production Falls 5%
Low oil prices and spending cuts are cutting into China’s oil production, a little known source of output declines that are helping to balance the market. New data shows that China’s oil production fell 5.6 percent in April compared to the same month a year earlier, falling to just 4.04 million bar..
Navitas Midstream Partners Announces Long-term Agreement With Encana Oil & Gas
Navitas Midstream Partners, LLC announced yesterday the execution of a long-term gas purchase agreement with Encana Oil & Gas (USA) Inc. Under the agreement, Navitas will purchase Encana’s gas from its substantial acreage position in Howard County, Texas. Navitas will gather gas into a new system c..
Pipeline Firm Says It Faces Charges in California Oil Spill
LOS ANGELES (AP) — A Texas oil pipeline company responsible for spilling more than 140,000 gallons of crude on the California coast last year has been indicted on dozens of criminal charges, the company said Tuesday. Plains All American Pipeline and one of its employees face 46 counts of state law ..
More Glut On The Way As Libya Unblocks Exports
As Libya prepares to resume oil exports from the blockaded port of Hariga amid a month-long standoff between rival governments seeking over control of the country’s oil wealth, the global crude glut could suffer another negative jolt. Libyan oil officials have reportedly told Reuters that an agreem..
Williams Sues to Maintain Sale to Energy Transfer Equity
DALLAS (AP) — Williams Cos. has gone to court to pressure rival pipeline company Energy Transfer Equity to go through with the planned $32.6 billion purchase of Williams. In a lawsuit filed in state court in Delaware, Williams suggested that Energy Transfer is trying to get out of the deal. Energy..
Projected Growth in CO2 Emissions Driven by Countries Outside OECD
Global energy-related carbon dioxide (CO2) emissions are projected to increase by one-third between 2012 and 2040 in EIA’s International Energy Outlook 2016 (IEO2016) Reference case, largely driven by increased energy use in countries outside of the Organization for Economic Cooperation and Developm..
US High Court Won’t Touch $236 Million Verdict in ExxonMobil Pollution Case
WASHINGTON (AP) — The Supreme Court will not hear Exxon Mobil’s appeal of a $236 million judgment for its use of a gasoline additive that contaminated groundwater in New Hampshire. The court’s order Monday leaves in place a jury verdict involving contamination by the chemical MTBE. Exxon Mobil wan..
FERC Issues Draft EIA for Golden Pass LNG
The Federal Energy Regulatory Commission (FERC) has prepared a draft environmental impact statement (EIS) for the Golden Pass LNG Export Project. Proposed by Golden Pass Products, LLC and Golden Pass Pipeline, LLC, the project includes construction, modification and operation of facilities in Texas..
3 Workers Hurt in N.J. Gas Line Explosion
An explosion in Bayonne, NJ on March 30 injured three contractors installing a new gas main on a street named to honor Korean War veterans. Public Service Electric & Gas said the workers were testing the pipe with air, which is standard practice, when the incident occurred on Chosin Few Way in a s..
Despite Leak, Sempra CEO Gets Hefty Bonus
The same year a broken Sempra Energy storage well created the biggest natural gas leak in U.S. history, CEO Debra Reed earned her largest bonus yet. While Reed received no payout for the part of her 2015 bonus that’s tied to customer satisfaction and pipeline safety at two Sempra utilities, amounti..
Largest U.S. Refinery in 40 Years Planned for ND
Plans are moving forward to build the biggest new U.S. refinery since 1976, at a time when gasoline consumption is expected to break an all-time record in 2016. California-based Meridian Energy Group hopes to start construction on the Davis Refinery in North Dakota near the Bakken shale play, which ..
Natural Gas Production Sets Record
Even in the face of low prices, U.S. natural gas production hit its highest level ever. Average daily output in the U.S. set a record in February of 73.3 Bcf, up about 2% from the previous month, Platts Bentek said. The Energy Information Administration reported March 24 that producers had begun sto..
U.S. Steel Idling 2 Plants, Cutting Jobs
The country’s second-biggest producer of steel is dismissing as many as 770 workers and shuttering two plants that make tubes used in oil drilling as energy companies cut production. U.S. Steel may cut as many as 450 union-represented jobs at its Lone Star Tubular Operations in eastern Texas and 20..
Explorer Achieves 1 Bcf/d of Send-Out Capacity
Excelerate Energy’s upgraded floating storage and regasification unit (FSRU) Explorer recently completed its send-out performance tests and reached a send-out capacity of 1 Bcf/d – an unprecedented milestone for an FSRU. The FSRU is under long-term charter to the Dubai Supply Authority (DUSUP) at th..
ONGC Seeks Help to Boost Output from Aging Oil and Gas Fields
India’s state-run Oil and Natural Gas Corporation Ltd. will enter into partnerships with overseas oilfield service providers to boost output from aging oil and gas fields, according to Rigzone. The ONGC chairman has reportedly had discussions with Schlumberger NV and Halliburton regarding capital i..
Penspen Wins Consultancy Contract in UAE
Penspen was named project management consultant to Abu Dhabi Marine Operation Company (ADMA-OPCO) for the ongoing work on Das Island in the UAE. Penspen will be involved in the upgrade or replacement of various pipeline networks, studies on an oil spill response hub to serve Das Island and offshore..
Punj Lloyd Wins Pipeline Contracts in Oman
Punj Lloyd won an EPC contract valued at $404 million from the Oman Oil Refineries and Petroleum Industries Company and Oman Gas Company (OGC), which are owned by the government of the Sultanate of Oman and Oman Oil Company SAOC. The contract awards, reported by Gulf Oil & Gas, indicated the scope ..
Russia, Kazakhstan to Dominate Upstream Projects by 2025
Russia is responsible for 25 key crude and natural gas projects expected to commence operations by 2025, dominating the Former Soviet Union’s (FSU) oil and gas production, according to research and consulting firm GlobalData. The company’s latest report, Production and Capital Expenditure Outlook f..
European Leak Detection Market Expected to Grow
Increased pipeline infrastructural investments coupled with high exploration and production activities in the oil and gas sector and high consumer demand for energy will propel growth in the European oil and gas pipeline leak detection market, according to a report issued by Research and Markets. T..
Understanding Both Sides of the Infrastructure Issue
A new book should be at the top of the reading list for everyone in the industry. It’s entitled The Green and the Black, The Complete Story of the Shale Revolution, the Fight over Fracking, and the Future of Energy, by Gary Sernovitz, a managing director of an oil and gas private equity firm in New ..
Report Seeks Plan to Ditch Fossil Fuels
The Center for Sustainable Energy (CSE) policy paper, Natural Gas as a Bridge Fuel – Measuring the Bridge, recognized the role natural gas plays in phasing out the nation’s use of dirtier fossil fuels, but concluded specific plans are needed to chart a course away from all fossil fuel use to achieve..
Solomon Forecasts Gas Demand for Oil Sands to 2025
Solomon Natural Gas Services (Solomon) recently released its Gas Demand for Alberta Oil Sands to 2025 report,[1] which represents the first major revision by Solomon in 10 years; driven primarily by the slide in oil and bitumen prices since late 2014. The report analyzes more than 150 producing, un..
Is Gas War Between U.S. And Canada Looming?
The United States and Canada work well together. The countries share the world’s largest and most comprehensive trade relationship, exchanging over $2 billion per day in goods and services; the U.S. is Canada’s largest foreign investor and Canada is the third-largest foreign investor in the U.S. The..
Columbia Pipeline Group Reaches 99% Availability
Changes to the oil and gas industry in the United States have put pressure on transmission companies to optimize their systems, add flexibility and respond more quickly to a fluctuating industry landscape. While many companies in the industry have been struggling to change, others have been more for..
- 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
- Caspian Pipeline Consortium Lowers 2024 Oil Export Forecast Again
