Business & Markets
Brazil’s Eneva Launches Gas Exploration, Carbon Storage Search in Parana Basin
Brazilian oil firm Eneva has began an exploratory campaign for natural gas in the Parana Basin that could lead to the firm's entry in the carbon capture market, a director at the firm told Reuters.
Sable Aims to Restart California Offshore Oil Pipeline by Year-End After Decade-Long Shutdown
Sable Offshore said on Monday it was expecting to restart the Santa Ynez oil and gas pipeline off the Californian coast by the end of the year after it was shut for nearly a decade following a major oil leak.
Chevron to Sell Assets Worth $6.5 Billion to Canadian Natural Resources
Chevron is selling its assets in Athabasca Oil Sands and Duvernay Shale to Canadian Natural Resources for $6.5 billion, the oil giant said on Monday as it puts in motion its divestiture plan.
OPEC+ Prepared to Offset Iranian Oil Loss, But Broader Disruptions Remain a Concern
OPEC has enough spare oil capacity to compensate for a full loss of Iranian supply if Israel knocks out that country's facilities, but the producer group would struggle if Iran retaliates by hitting installations of its Gulf neighbors.
Matterhorn Pipeline Ramps Up Natural Gas Flow, Lifts Waha Prices
The Matterhorn Express Pipeline has started transporting gas into pipelines near Katy, marking the long-awaited launch of the Permian project. This week, Waha prices surged following the new pipeline's opening, although Permian gas prices remain low, according to East Daley Analytics.
China to Maintain Top Spot as World's Largest LNG Buyer Through 2025, IEA Says
China, the world's second-biggest economy after the U.S., last year overtook Japan as the world's top LNG buyer as Japanese demand is falling amid nuclear reactor restarts, the roll out of renewable energy and overall weak economic development.
FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
(P&GJ) — FERC has sided with Williams in a dispute with Energy Transfer, ruling that the Louisiana Energy Gateway project is a gathering network, not subject to federal jurisdiction. This clears the way for Williams to proceed with the project without regulatory oversight under the Natural Gas Act.
Goldman Sachs Predicts Brent Price Surge Amid Escalating Iran Tensions
Goldman Sachs said on Friday that it expects its Brent price forecast to peak $10-$20 per barrel in 2025 due to potential disruptions in Iranian production.
Chesapeake, Southwestern Complete $7.4 Billion Merger, Rebrand as Expand Energy
Chesapeake Energy and Southwestern Energy have officially completed their merger, forming a newly rebranded entity, Expand Energy Corp.
Tellurian Shareholders Approve $1.2 Billion Acquisition by Woodside
Tellurian shareholders have approved the proposed $1.2 billion acquisition by Woodside Energy, which includes the U.S. Gulf Coast Driftwood LNG export project. The deal aims to address Tellurian's financial challenges following setbacks and cancelled supply agreements.
TotalEnergies Wins LNG Supply Tender for Bulgargaz
Natural gas distribution company Bulgargaz said that French oil major TotalEnergies ranked first in a tender offer to supply LNG in November and December to the Alexandroupolis terminal in Greece.
Russia Sues Shell Units Over Energy Projects, Court Documents Reveal
Russia's Prosecutor General has filed a lawsuit against a number of energy major Shell's units, court documents showed on Friday.
Japan Becomes Top Buyer of LNG from Russia's Sakhalin 2
Japan is currently the biggest importer of liquefied natural gas (LNG) from Russia's Sakhalin 2 plant accounting for 57.5% of its exports, Interfax news agency quoted a company senior manager as saying on Thursday.
Product Shows Potential for Deepwater Flowlines
By combining polyvinylidene fluoride (PVDF), a high-performance polymer, with carbon fiber, the company can offer jumpers and flowlines for use in harsh environment carbon capture and storage (CCS) applications.
Occidental’s 1PointFive Wins $36 Million DOE funding for CO2 Sequestration Hubs
1PointFive, a subsidiary of Occidental, has secured $36 million in funding from the U.S. Department of Energy (DOE) to develop two carbon sequestration hubs in Texas and Louisiana.
Enbridge Green Lights $700 Million Pipeline Network Plans for Gulf of Mexico
Enbridge will construct and operate crude oil and natural gas pipelines for BP's Kaskida oil hub in the U.S. Gulf of Mexico, set to start production in 2029. Shell has also announced its final investment decision for the Rome Pipeline, which will transport oil from the project.
TC Energy's South Bow Pipeline Spin-Off Begins Trading on TSX
TC Energy's oil pipeline spin-off, South Bow Corp, started trading on the Toronto Stock Exchange, experiencing a slight decline on its debut. South Bow's main asset is the 622,000 barrel-per-day Keystone pipeline, which ships Canadian crude from Alberta to the U.S. Midwest and Gulf Coast.
Summit Midstream Acquires Tall Oak Midstream for $450 Million
Tall Oak operates a large gas gathering and processing system in the Arkoma Basin, featuring two natural gas processing plants with a total capacity of 220 MMcf/d and 411 miles of gas gathering lines.
EQT to Lay Off 15% of Workforce After $14 Billion Equitrans Acquisition
EQT Corp. plans to cut 15% of its workforce following its $14 billion acquisition of Equitrans Midstream. The layoffs, part of an integration process, mark the company's largest job reduction since 2019. EQT aims to boost natural gas margins amid fluctuating market conditions.
Australia's Santos and TotalEnergies Ink Mid-Term LNG Supply Deal
Santos has signed a mid-term liquefied natural gas (LNG) supply agreement with TotalEnergies' Singapore unit. The three-year contract, starting in late 2025, will see Santos supply up to 500,000 tons of LNG annually, further strengthening its LNG portfolio in the region.
New Energy Tanker Berths at Russia's Arctic LNG 2 Despite U.S. Sanctions
The U.S.-sanctioned LNG tanker New Energy has berthed at Russia's Arctic LNG 2 plant, according to ship-tracking data. Despite Western sanctions over Russia's actions in Ukraine, the Palau-flagged tanker continues operations, including a recent ship-to-ship transfer from the plant.
Brent Oil Traders Reroute U.S. Cargoes Using Little-Known Rule
Big energy traders are leveraging a little-known rule to reroute U.S. oil shipments meant for Europe, raising concerns about the effectiveness of recent reforms to the Brent crude price benchmark and its reflection of true market demand.
Vale, GEP Partner to Explore Green Hydrogen Opportunities in Brazil
Vale has partnered with Green Energy Park to explore green hydrogen production opportunities in Brazil. As part of its decarbonization efforts, Vale aims to develop "mega hubs" for steel production using renewable hydrogen, supporting Brazil's green energy transition.
U.S. Buys 6 Million Barrels of Oil for Strategic Petroleum Reserve
The U.S. Department of Energy has purchased 6 million barrels of oil for the Strategic Petroleum Reserve. The oil, sourced from Exxon Mobil, Shell Trading, and Macquarie Commodities, will be delivered monthly to the Bayou Choctaw site starting in February 2025.
Guyana Receives 27 Bids from Energy Giants for Crude Marketing Contract
Guyana has received 27 bids from major energy companies, including Shell and TotalEnergies, for a 12-month contract to market the government’s share of crude oil. The contract will cover exports from key oil projects, with deliveries expected in 1-million-barrel cargoes
From Crude to NGL: Understanding the Complexities of Pipeline Conversions
As Enterprise Products Partners LP expands its footprint in the Permian Basin, the conversion of existing pipelines raises both opportunities and challenges. This article delves into the complexities involved in repurposing energy infrastructure, highlighting technical, economic, and safety considerations amid robust production growth.
Venture Global Receives Approval to Advance Louisiana Calcasieu LNG Plant Toward Commercialization
Venture Global LNG has received approval from the U.S. Federal Energy Regulatory Commission (FERC) to reintroduce hazardous fluids to part of its Calcasieu LNG export plant in Louisiana. This critical step brings the plant closer to commercial operations after facing legal and regulatory challenges.
Shell Expands Gas Distribution Network in Nigeria
Shell plc’s Nigerian business, Shell Nigeria Gas (SNG), has struck a deal with a regional government in the country to develop a new gas distribution network to boost consumption by commercial and industrial entities for increased business performance.
Enbridge Acquires PSNC, Adding Over 13,000 Miles of Pipeline to Its U.S. Gas Utility Portfolio
Enbridge Inc. has completed its acquisition of Public Service Company of North Carolina (PSNC) from Dominion Energy. PSNC, now operating as Enbridge Gas North Carolina, serves over 600,000 customers and boasts an extensive network of over 13,000 miles of natural gas pipelines.
TotalEnergies, APA Approve $10.5 Billion Oil, Gas Project in Suriname
The small South American country wants to follow in the footsteps of neighboring Guyana, where a consortium led by Exxon Mobil has discovered more than 11 billion barrels of recoverable oil and gas resources.
- Texas Waha Hub Gas Prices Plunge to Record Lows, Hit Negative Territory
- Williams Seeks Emergency Certificate to Operate $1 Billion Mid-Atlantic Gas Pipeline After Court Reversal
- Texas Oil Pipelines Near Max Capacity, Threatening Future Export Limits
- Energy Transfer Subsidiary Selects KTJV for Lake Charles LNG Export Project
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- Saudi Arabia Looking to Expand Pipeline to Reduce Oil Exports via Gulf
- Report: Houston Region Poised to Become a Global Clean Hydrogen Hub
- Texas Startup Endeavors Again to Build First Major U.S. Oil Refinery Since 1977
- Alaska Greenlights Enstar’s $57 Million Pipeline to Boost LNG Imports
- Editor’s Notebook: Alaska’s New LNG Pipeline Push Faces Long Odds
