Business & Markets
EU Allocates $402 Million to Italian Energy Groups for Green Hydrogen Project
The European Commission has awarded financing of up to $402 million to set up a 'Green Hydrogen Valley' in Italy's Puglia region, the energy groups involved said.
U.S. Gas Glut Sparks Ultra Bearish Sentiment Among Hedge Funds
Portfolio investors have become extremely bearish about the outlook for U.S. gas prices, even though prices have already fallen to their lowest level in real terms since futures began trading in 1990.
Germany Plans to Expand Carbon Capture and Storage, Including Sub-Seabed Transport
Germany will change its carbon dioxide storage law to allow carbon capture and off-shore storage for certain industrial sectors as Europe's biggest economy aims to become carbon neutral by 2045, Economy Minister Robert Habeck said on Monday.
Denmark Ends Probe Into 'Deliberate' Nord Stream Pipeline Blasts
Denmark has dropped its investigation into the explosions in 2022 on the Nord Stream pipelines carrying Russian gas to Germany, police said on Monday, becoming the second nation to do so after Sweden closed its own inquiry.
First LNG Vessel Arrives at Germany's New Mukran Terminal
The first vessel carrying LNG for Germany's Baltic Sea terminal of Mukran arrived on Saturday for a test operation as the country steps up its quest to replace Russian pipeline gas.
Qatar Expands Gas Output Amid Plummeting Global Prices
Qatar will further raise gas production despite a steep drop in global gas prices, pushing ahead with plans to extract more of the resource amidst fierce competition with rivals such as the United States.
Australia's Woodside to Sell Stake in Scarborough to Japan's JERA for $1.4 Billion
Woodside Energy is selling a 15.1% stake in its Scarborough project to Japan's JERA for about $1.4 billion, marking the Australian gas producer's second stake sale to a Japanese LNG buyer in six months.
Marathon Oil Beats Profit Estimates on Higher Production
Marathon reported a rise in its oil and gas output to 404,000 barrels of oil equivalent per day (boepd) from 333,000 boepd in the previous year.
ExxonMobil Weighs Offers for Argentina Shale Assets, Source Says
U.S. energy giant ExxonMobil Corp. is weighing offers for its oil and gas assets in Argentina's Vaca Muerta shale region, a source familiar with the plan said on Friday, adding there was no time frame for a decision and the sale may not move forward.
DTE Energy Seeks Developers for New Renewable Projects
The energy company, which operates a natural gas company in Michigan, is seeking proposals for renewable energy projects totaling about 1,075 megawatts (MW) to advance its decarbonization efforts.
Exxon, EnLink Midstream to Expand CCS Pipeline Transportation Along Gulf Coast
ExxonMobil and EnLink Midstream are exploring opportunities for EnLink to support ExxonMobil's carbon capture and sequestration (CCS) efforts beyond the southeast Louisiana Mississippi River Corridor into several additional Gulf Coast areas.
U.S. Regulators Set April Deadline for Decision on Venture Global LNG Permit Extension
U.S. energy regulators on Friday said they would decide quickly on liquefied natural gas developer Venture Global LNG's request for a one-year extension to its construction permit for its Calcasieu Pass LNG plant in Louisiana.
TotalEnergies Texas Refinery Operating at Minimal Rates Amid Upsets
TotalEnergies' 238,000-barrel-per-day refinery in Port Arthur, Texas, is operating at minimal production as it contends with multiple upsets, sources said on Wednesday.
U.S. Oilfield Jobs at Risk as Natural Gas Prices Plummet
Oilfield service companies and drillers have put the brakes on hiring and further job cuts could loom as natural gas producers respond to sliding prices by slashing spending on new wells to reduce excess production.
Pioneer Natural Exceeds Production Expectations Amid Pending Exxon Takeover
Pioneer Natural Resources on Thursday reported 2023 production that exceeded its prior forecast, as the U.S. shale producer works to close its about $60 billion purchase by oil major Exxon Mobil later this year.
Venture Global LNG Customers Challenge Permit Extension Request
Three of Venture Global LNG's major customers have asked U.S. energy regulators to address the LNG developer's request for a one-year permit extension to complete a Louisiana export facility, signaling their intention to voice concerns.
Cheniere Energy's Annual LNG Revenue Falls on Lower Natural Gas Prices
U.S. liquefied natural gas (LNG) company Cheniere Energy on Thursday forecast a lower core profit for 2024 as prices of the fuel buckle under excess supply, sending its shares down 1.7% premarket.
Exxon Considers Guyana Offshore Gas Production Post-2029
Exxon, Hess Corp. and CNOOC are under pressure from Guyana to develop untapped natural gas in the South American country, where they have discovered more than 11 billion barrels of oil and gas since 2015.
Chesapeake Plans to Cut Output, Spending Amid Oversupplied Natural Gas Market
Chesapeake Energy said it would cut spending and natural gas output this year as it sees the market being "oversupplied", causing the company's shares to rise more than 7% on Wednesday.
Analysis: Trans Mountain Expansion May Offer Short-Term Relief for Canada's Oil Output, Long-Term Challenges Loom
Canadian oil producers expect the discount on their crude to shrink significantly when the Trans Mountain pipeline expansion starts this year, but the relief may be short-lived as surging supply looks set to exceed the country's pipeline capacity in just a few years.
BP's Tangguh LNG Train 3 Resumes Operations After Week-Long Outage
The third train of BP's Tangguh liquefied natural gas (LNG) facility in West Papua, Indonesia has resumed operations after an outage for about a week, the country's upstream oil and gas regulator SKK Migas said on Wednesday.
Germany's SEFE Weighs Investments in Hydrogen Storage, Pipelines
German nationalized gas trader SEFE is exploring transforming some of its underground storage caverns and pipelines to clean hydrogen, its CEO said, indicating this could involve investments of roughly $541 million.
FOCUS: Tumbling U.S. Natural Gas Prices Prove Unstoppable, Hurting Producers
For nearly a year, U.S. natural gas producers have slammed the brakes on production as prices fall. But relentless output gains including from oil companies that pump gas as an oil byproduct have unleashed record supplies.
Chesapeake Energy Beats Q4 Profit Estimates Amid Lower Expenses, Production Decline
Chesapeake Energy beat Wall Street estimates for fourth-quarter profit on Tuesday as the natural gas producer saw a steep decline in its operating expenses.
Guyana's $1.9 Billion Gas-to-Power Project Pushed to 2025
Guyana will delay until 2025 its biggest effort to capitalize on its energy bounty, a $1.9 billion gas-to-power project that was to start this year, using untapped gas to slash electricity costs, a Ministry of Natural Resources consultant said on Tuesday.
Kyushu Electric to Await U.S. LNG Policy Clarity Before Lake Charles Decision
Japan's Kyushu Electric Power will wait until after the United States resumes issuing export licenses for new LNG projects before deciding on whether to invest in the Lake Charles project, an executive said.
CenterPoint Energy to Sell 12,000-Mile Pipeline Network in Louisiana, Mississippi for $1.2 Billion
CenterPoint Energy said on Tuesday it would sell its natural gas assets in Louisiana and Mississippi for $1.2 billion to Bernhard Capital Partners, as the electric and gas utility plans to focus on its regulated business.
Occidental Considers $18 Billion Sale of Western Midstream, Sources Say
Occidental Petroleum is exploring a sale of Western Midstream Partners, a U.S. natural gas-focused pipeline operator that has a market value of more than $18 billion, including debt, according to people familiar with the matter.
China's CNOOC Receives Approval for Second LNG Berth at Yancheng Port
Chinese state-owned CNOOC has received government approval to build a second berth at its LNG receiving terminal in Yancheng in eastern Jiangsu province, according to a statement from the Shanghai Petroleum and Natural Gas Exchange on Tuesday.
Equitrans Delays Mountain Valley Natural Gas Pipeline Again, Increases Projected Cost
U.S. energy firm Equitrans Midstream has delayed the estimated completion of its Mountain Valley natural gas pipeline from West Virginia to Virginia to the second quarter from the first quarter due in part to adverse weather in January.
- 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
