Business & Markets
OMV Warns Gazprom May Halt Gas Supplies
Austrian oil and gas group OMV said on Wednesday that gas supplies from Russia's Gazprom may be suspended in connection with a foreign court ruling, without identifying the case but assuring the market it would have replacement cover.
Petronas' Bintulu LNG Facility Fully Operational After Power Disruption
Malaysian state-run Petronas said on Thursday its LNG complex in Bintulu was fully restored on Sunday, more than a week after a power loss incident disrupted normal operations.
National Grid to Sell Europe's Largest LNG Terminal
British energy infrastructure operator National Grid said on Thursday it is looking to sell its Grain LNG terminal in Britain, Europe's largest such facility, in a bid to streamline operations.
Canada Amends Trans Mountain Ownership Regulations to Facilitate Pipeline Sale to Indigenous Groups
Canada is amending regulations on how it manages the state-owned Trans Mountain oil pipeline in order to facilitate its sale to Indigenous groups, according to an official government notice published on Wednesday.
U.S. to Close Northeast Gasoline Reserve with 1 Million-Barrel Sale
President Joe Biden's administration will sell nearly 1 million barrels of gasoline in the U.S.-managed stockpile in northeastern states as required by law, the Department of Energy said on Tuesday, effectively closing the near decade-old reserve.
Youth Climate Lawsuit Targets Alaska LNG Project
Eight young Alaska residents sued the state on Wednesday seeking to block a major natural gas project, the latest in a string of climate-change related lawsuits by youths arguing that government policies promoting fossil fuels violate their rights.
Mexican Developer Seeks Permit to Export U.S. Gas for LNG Production
Mexico-based Gato Negro Permitium Uno and partners including Houston-based Big River Energy plan to construct four LNG processing plants in Manzanillo on Mexico's Pacific coast to produce up to 4 MTPA of LNG, the company said.
Mountain Valley Pipeline Expects WV-VA Natural Gas Pipe in Service by Early June
U.S. natural gas pipeline venture Mountain Valley Pipeline pushed back the target in-service date of its long-delayed pipe from West Virginia to Virginia to early June from the prior target of "prior to June 1".
Piñon Midstream Boosts Sour Gas Capacity by 50% in Delaware Basin
Piñon Midstream has announced a significant increase in its sour gas treating capacity and an expansion of its infrastructure in the Delaware Basin.
ADNOC Buys 10% Stake in Mozambique LNG Project
ADNOC has acquired Galp’s 10% interest in the Area 4 concession of Mozambique’s Rovuma basin. This move is part of ADNOC’s strategy to expand its international presence and its lower-carbon LNG portfolio.
Kinder Morgan Acquires Texas Oilfield to Leverage Carbon Tax Credits, Sources Say
U.S. pipeline operator Kinder Morgan has acquired oil and gas producing assets in West Texas and is planning to tap U.S. carbon capture incentives to increase output from the properties, according to people familiar with the matter.
Oil Executives Host Trump Fundraiser in Houston Amidst Fossil Fuel Policy Debate
The luncheon, which will be held at Houston’s Post Oak Hotel, is hosted by Harold Hamm, founder of Continental Resources; Kelcy Warren, executive chairman of Energy Transfer Partners; and Vicki Hollub, CEO of Occidental Petroleum, according to the invitation.
Saudi Crown Prince Assures Japan of Stable Oil Supply Amid Postponed Visit
The crown prince told Kishida that "Saudi Arabia remains committed to the stable supply of crude oil to Japan and that Saudi Arabia would like to cooperate with Japan in other areas including the field of clean energy," it said.
Argentina's Oil Output Hits Record High with YPF's New Pipeline Launch
Argentina's oil production in the key province of Neuquen reached a record high in April, driven by increased activity in the huge Vaca Muerta shale formation, the local government said on Tuesday, edging up to around 390,326 barrels per day.
Challenges to Growth Remain Key Story in Appalachian Basin
The Marcellus Shale and Point Pleasant-Utica Shale formations of the Appalachian Basin contain an estimated mean of 214 Tcf of undiscovered, technically recoverable continuous resources of natural gas, according to the United States Geological Survey.
Hydrogen Blending Study Underway in British Columbia
DNV is executing hydrogen blending feasibility studies for Enbridge and FortisBC Energy. The two individual studies will determine the percentage of hydrogen that can be safely transported through existing natural gas pipeline infrastructure.
RWE Gas Storage West Launches Inquiry for Hydrogen Storage Demand
RWE Gas Storage West has initiated a preliminary market survey, inviting hydrogen producers, users, industrial firms, and traders to register their future hydrogen storage requirements until June 2024.
Chesapeake Energy Initiates Job Cuts Following Oil Asset Divestment
This week's layoffs follow its divestment of its Eagle Ford assets, not the company's pending merger with Southwestern Energy, Chesapeake said.
Uzbekneftegaz in Talks to Join Azerbaijan's Shah Deniz Gas Project
Uzbek energy firm Uzbekneftegaz is in talks with Azerbaijan's SOCAR over joining a project to develop Shah Deniz, the largest gas field in the Azerbaijani section of the Caspian Sea, an Uzbek official said on Tuesday.
Contractor for QatarEnergy-Exxon LNG Plant in Texas Files for Bankruptcy
Zachry Holdings, which held the lion's share of the $10 billion construction project called Golden Pass LNG, said it was pursuing a "structured exit." Exxon said it would review construction timing and provide an update in the future.
First Canadian Oil Export Cargo from Expanded Trans Mountain Pipeline Set to Load
Crude oil tanker Dubai Angel on Monday moored at the Westridge Marine Terminal in Vancouver, preparing to load the first cargo of crude oil from the recently expanded Trans Mountain pipeline, ship tracking data showed.
Phillips 66 to Acquire Pinnacle Midland for $550 Million
Pinnacle's assets include the Dos Picos natural gas complex with a processing capacity of 220 million cubic feet per day (MMcf/d), and 80 miles of pipelines.
Case Study: Risk Management for Valve Rupture Mitigation in Pipeline Operations
Discover how a U.S. transmission pipeline operator collaborated with Dynamic Risk to conduct a comprehensive risk analysis for valve rupture mitigation. Learn how geospatial data and advanced analytics were utilized to prioritize high-consequence areas and optimize risk management strategies.
Saipem Wins $850 Million Offshore Contract for Ndungu Field Project in Angola
Under the contract, Saipem will undertake the engineering, fabrication, transportation, and installation of approximately 37 miles of rigid pipelines and subsea facilities at a depth of around 1,100 meters.
Russia Remains China's Top Oil Supplier for 12th Consecutive Month in April
Russia was China's top oil supplier in April for a 12th month, with volumes rising 30% from a year earlier, official data showed, as refiners continued to cash in discounted shipments, while supplies from Saudi Arabia fell a quarter on higher prices.
Libya Commences Operation of North Hamada Oilfield Pipeline
Libya has begun operating the new pipeline from its North Hamada oilfield with initial transfer capacity expected at 2,000 barrels per day, the National Oil Corporation said on Sunday.
UAE's ADNOC Acquires Stake in NextDecade's Rio Grande LNG Project
ADNOC has acquired an 11.7% stake in NextDecade's Rio Grande LNG export facility in Texas and entered a supply agreement, marking the UAE energy giant's first large investment in the United States.
Spotlight on Marcellus: Prolific Gas Play Keeps Rolling as Caution Persists
At the end of the first quarter of 2024, with natural gas prices depressed, the prolific Marcellus Shale gas play rolled along, albeit at a slower pace than usual with some producers cutting back production in March with a wait-and-see attitude toward prices.
U.S. Purchases 3.3 Million Barrels of Oil for Strategic Petroleum Reserve
The U.S. awarded contracts for the purchase of 3.3 million barrels of oil to help replenish the Strategic Petroleum Reserve (SPR) after a massive sale from the stockpile in 2022, the Department of Energy said on Friday.
Industry Leaders Partner to Repurpose Natural Gas Pipelines for Hydrogen Transmission
DORIS, ROSEN, and SPIECAPAG have jointly announced the establishment of the Pipeline Transition Alliance, a collaboration aimed at repurposing natural gas pipelines for hydrogen transmission.
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- 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
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Texas Oil Company Challenges $250 Million Insurance Collateral Demand for Pipeline, Offshore Operations
