Business & Markets

Canada, Nigeria Target Oil and Gas Methane Emissions with New Laws

Oil and gas producers Canada and Nigeria have become the latest countries to tackle the potent greenhouse gas methane with laws to rein in emissions in the fossil fuel energy sector.

Portugal Seeks to Become Major Exporter of Green Hydrogen

Portugal expects to become a major producer and exporter of green hydrogen with 70 private investors or groups planning to spend 10 billion euros ($10.2 billion), the environment minister said on Thursday.

Chevron, MOL to Study CO2 Shipping from Singapore to Australia

(P&GJ) — Chevron Corp. has signed joint study agreement with Mitsui O.S.K. Lines Ltd. (MOL) to study the feasibility of transporting liquified carbon dioxide from Singapore to permanent storage locations offshore Australia.

US, EU Plan New Pledge Targeting Oil and Gas Methane Emissions

The United States and European Union plan to unveil a joint agreement at the U.N. climate summit this week to step up efforts to reduce emissions of the potent greenhouse gas methane from the fossil fuel sector and are hoping other nations will sign up.

US Allows Transactions to Free Sanctioned Oil Tanker Stranded in Indonesia

The Indonesian navy has been trying to free the Djibouti-registered ship, Young Yong, which ran aground off Indonesia's Riau Islands on Oct. 26 near a gas pipeline.

Alaska State Company Proposes Hydrogen Hub, Eyeing Federal Funds

"The Alaska Hydrogen Hub concept anticipates using $850 million in DOE funding along with $3.75 billion in private-sector funds, backed by offtake agreements from hydrogen customers in the U.S. and Asia," the Alaskan state-owned AGDC said.

INGAA CEO Writes to President Biden to Address New England Reliability Concerns

(P&GJ) — Interstate Natural Gas Association of America (INGAA) President and CEO Amy Andryszak sent a letter to President Biden on Monday to address New England gas-electric reliability concerns brought forward in a letter from Eversource President and CEO Joseph R. Nolan Jr.

Mauritania and BP to Explore Green Hydrogen Projects

BP has signed an agreement with Mauritania to explore ways to develop low-carbon hydrogen on a large scale in the West African country, the British energy company said on Tuesday

Two New Natural Gas Reservoirs Discovered in Bahrain

Bahrain has announced two natural gas discoveries in the Al-Joubah and Al-Jawf reservoirs, state news agency BNA said on Tuesday.

Exxon Mobil to Start Gas Reserve Seismic Surveys in Greece

Exxon Mobil will start conducting seismic surveys in two blocks southwest of Greece's Peloponnese peninsula and the island of Crete in the coming days, Prime Minister Kyriakos Mitsotakis said on Monday.

UK to Announce US Gas Deal After Climate Change Summit

Britain hopes the United States will promise about 10 billion cubic meters of LNG over the coming year, the Telegraph newspaper reported, adding that discussions about the deal are in their final stages and an announcement could come in a week or two.

Stakeholder Midstream to Double Gas Capacity in Permian with Second Processing Train

(P&GJ) — Stakeholder Midstream LLC said on Oct. 26 that it reached a final investment decision on the installation of a second treating and processing train at its Campo Viejo facility. The installation of Train II will double the current inlet gas capacity from approximately 80 MMcf/d to approximately 160 MMcf/d.

Nikola, KeyState to Develop Pennsylvania’s First Low-Carbon Hydrogen Value Chain

Electric vehicle maker Nikola Corp. said on Monday it was working with KeyState Natural Gas Synthesis to create Pennsylvania state's first low-carbon hydrogen production supply chain.

Uganda Says First Oil in April 2025, Eyes China for Pipeline Funding

Uganda aims to start commercially pumping its oil reserves in April 2025, with China being considered as a potential source of funds to develop an export pipeline, Uganda's energy minister said on Tuesday.

Energean Drilling Program Discovers More Gas Off Israel

Eastern Mediterranean-focused oil and gas producer Energean has made a commercial discovery at its Zeus exploration well off the coast of Israel and upgraded its neighboring Athena discovery, it said on Monday.

Italy's Emilia Romagna Region Backs $1 Billion Floating LNG Project in Adriatic Sea

Italy's Emilia Romagna region has approved a project for a new floating LNG terminal off the coast of Ravenna in the upper Adriatic Sea, it said on Monday, part of the country's broader efforts to replace dwindling Russian gas supplies.

Gas Producer Pampa to Invest $550 Million in Vaca Muerta Shale Push Next Year

Pampa Energía, the third largest gas producer in Argentina's Neuquén basin, will invest $550 million in 2023 to increase its unconventional production from the huge Vaca Muerta shale formation, the firm's president Marcelo Mindlin said.

Trinidad Asks US to Allow Venezuelan Gas Imports for LNG Plant

The government of Trinidad and Tobago is asking the United States to authorize Venezuelan gas imports to restart an idled liquefaction train in the Caribbean nation, four sources close to the talks said.

Indonesia's Medco Energi Signs 5-Year Gas Supply Contract with Singapore

Indonesian oil and gas group Medco Energi Internasional Tbk (MedcoEnergi) has signed an agreement with Singapore to continue supplying the city state with gas for five years, beginning August 2023.

Sempra Set to Approve Port Arthur LNG Export Plant in Q1 2023

California energy company Sempra Energy said Thursday that its Sempra Infrastructure unit planned to greenlight the first phase of its proposed Port Arthur LNG export plant in Texas during the first quarter of 2023.

Forty Countries Expected to Unveil Methane Plans at UN Climate Summit

Some forty of the 119 countries that pledged last year to slash emissions of the powerful greenhouse gas methane will unveil their plans to do so at the UN climate summit next week, according to a senior U.S. official.

US Sells Last Batch of Emergency Reserve Oil from Historic Release

Oil

The U.S. Department of Energy on Thursday said it sold 15 million barrels of oil from the Strategic Petroleum Reserve to six companies, completing the last batch of the largest-ever release from the stockpile announced by President Joe Biden in March.

US Natural Gas Falls 5% on Big Storage Build, Lower Demand Forecast

U.S. natural gas futures fell about 5% on Thursday on a bigger-than-expected storage build and forecasts for lower demand over the next two weeks than previously expected.

IEA: Europe Must Act Now to Avoid Winter 2023 Gas Shortages

Europe needs to act now to avoid a natural gas shortage next year given the loss of Russian supply and expectations Chinese demand will increase, the International Energy Agency said on Thursday.

EIA: US Crude Stocks Down, Refining Runs Rise

Oil

Crude oil and gasoline stocks fell in the most recent week, while refiners ramped up activity ahead of the heating season with inventories already tight, the U.S. Energy Information Administration (EIA) said on Wednesday.

Mitsui Says Russia's Sakhalin-2 Gas Project Can Cope Without Shell

The Sakhalin-2 LNG project in Russia has enough technical expertise to operate even without departed shareholder Shell, Mitsui & Co. CEO Kenichi Hori said on Wednesday.

Centrica Reopens UK's Rough Gas Storage Site in Time for Winter

British Gas owner Centrica has reopened its Rough gas storage site off England's east coast at about 20% of its previous capacity, enough to heat 1 million homes for 100 days this winter, the company said on Friday.

US Regulators Want More Data on Texas Freeport LNG Plant Before Restart

U.S. federal regulators have told Freeport LNG to provide information needed for the planned restart of its LNG export plant in Texas, the second-largest U.S. LNG export plant, as soon as possible to allow sufficient time for review.

US LNG Exports Dip in October, More Cargoes Head to Asia

U.S. LNG exports in October remained capped by plant outages, with producers shifting more cargoes to Asian buyers last month, according to Refinitiv Eikon tanker monitoring data, after a pipeline leak cut supplies from Malaysia.

Energy Transfer Hikes Full Year Profit Forecast on Natural Gas Demand

Energy Transfer LP's raised its full profit forecast for the third time this year, helped by an acquisition as well as strong production and demand for natural gas that it moves on its pipelines.