Business & Markets
Shell Forecasts 50% Surge in Global LNG Demand by 2040
Global demand for liquefied natural gas (LNG) is estimated to rise by more than 50% by 2040, as China and countries in South and Southeast Asia use LNG to support their economic growth, Shell said on Wednesday.
Global Oil Stock Refill Led by China and U.S. Expected to Drive Demand
A push to replenish depleted oil stocks notably in China, the United States and Europe could buoy demand and prices in coming months, analysts and traders said, as tensions in the Middle East threaten key shipping lanes.
Caspian Pipeline Consortium Sees 7% Increase in Oil Exports Year-on-Year in January
The Caspian Pipeline Consortium (CPC) increased crude oil exports by 7% in January from the same month a year ago to 6.116 million metric tons (1.55 million barrels per day), industry sources told Reuters on Tuesday.
Shell Exec: Extended U.S. LNG Export Ban Would Significantly Impact Global Market
An extended U.S. ban on new LNG export projects would have "quite an impact" on the fast-growing global market, a senior Shell executive said on Wednesday.
Williams Companies Beats Profit Estimates, Forecasts Higher 2024 Core Profit
Williams Companies beat estimates for fourth-quarter profit on Wednesday, as it benefited from strength in its transmission and Gulf of Mexico unit, and the pipeline operator also forecast a higher core profit for this year.
Exxon, Enbridge Sued Over Alleged Antitrust Violations in Crude Oil Transportation
Exxon and Canada-based crude pipeline operator Enbridge were sued in Illinois federal court on Tuesday over claims they barred a competitor from building a terminal to ship oil by barge from the Chicago area to refineries in the Midwest and Gulf of Mexico.
Williams CEO Warns U.S. LNG Export Terminal Permit Pause May Fuel Overseas Coal Consumption
The Biden administration's pause on approving permits for U.S. liquefied natural gas (LNG) export terminals could backfire by boosting coal usage overseas, the CEO of U.S. natural gas pipeline operator Williams Companies said.
Iran's Main Gas Pipeline Hit by Sabotage, Oil Minister Says
Two explosions along Iran's main south-north gas pipeline network on Wednesday were caused by sabotage, the Iranian oil minister told state TV, without naming any suspects.
BPCL to Establish First Green Hydrogen Plant at Indian Airport
Indian refiner Bharat Petroleum Corp. Ltd. (BPCL) said on Wednesday it will set up the first-ever green hydrogen plant inside an airport in the country.
U.S. Appeals Court Rejects Renewed Challenge to Mountain Valley Pipeline
A federal appeals court has for the second time rejected a challenge by property owners to the Mountain Valley Pipeline's use of eminent domain, finding that a federal law bars the case despite a recent U.S. Supreme Court ruling that made it easier to sue federal agencies.
Phillips 66 Appoints Industry Veteran Robert Pease as New Director
Phillips 66 said on Tuesday it has appointed energy industry veteran Robert Pease to its board after activist investor Elliott Investment Management urged the U.S. oil refiner and pipeline operator to overhaul its board.
Why Endeavor Energy's Founder Sold His Company After Years of Rebuffing Offers
For years, Endeavor Energy founder Autry Stephens' refusal to entertain acquisition offers for one of the most lucrative producers in the U.S. oil patch vexed some of his peers.
Saudi Aramco Begins Trading U.S. Crude to Influence Brent Oil Benchmark
Saudi Aramco initiates trading of U.S. crude, impacting the Brent oil benchmark and reflecting market shifts.
EIG’s MidOcean Energy Acquires 20% Stake in Peru LNG, Including 254-Mile Pipeline
EIG's MidOcean Energy secures 20% stake in Peru LNG, which includes a natural gas liquefaction plant, a 254-mile pipeline, storage tanks, a marine terminal, and a truck loading facility.
Chesapeake Energy Signs LNG Export Deal with Gunvor, Delfin
Chesapeake Energy has entered a long-term LNG export deal with Delfin LNG and global energy trader Gunvor Group, the U.S. natural gas producer said on Tuesday.
Oil Industry, Environmental Groups Challenge Biden's Offshore Drilling Plan in Court
Oil and gas companies and environmental groups on Monday filed dueling legal challenges to the Biden administration's five-year plan to offer drilling leases in the Gulf of Mexico.
Clean Energy's Tri-Cross Dairy Begins Production of Renewable Natural Gas
Clean Energy Fuels Corp. has announced the successful completion and operational launch of its latest renewable natural gas production facility at Tri-Cross Dairy in Viborg, South Dakota.
EIA Projects U.S. Oil Output Surge from Top Shale Regions in March
U.S. oil output from top shale-producing regions will rise in March to its highest in four months, the U.S. Energy Information Administration (EIA) said on Monday in its monthly Drilling Productivity Report.
Saudi Arabia Attributes Oil Capacity U-turn to Energy Transition, Ensures Ample Spare Capacity
Saudi Arabia's U-turn on its oil capacity expansion plans was because of the energy transition, its energy minister said on Monday, adding that the kingdom has plenty of spare capacity to cushion the oil market.
Former Trump, Bush Officials Urge Congress to Reverse Biden's LNG Pause
Dozens of former officials from the past two Republican U.S. administrations on Monday urged Congress to reverse the Biden administration's pause on approvals of LNG exports, saying the shipments promote global stability.
Japan's Japex Eyes U.S. as Prime Investment Hub for Energy Exploration Despite Political Risks
Japan Petroleum Exploration (Japex) sees the United States as the most appealing investment destination for oil and gas exploration and production, despite political risks posed by this year's election, its senior managing executive officer said on Friday.
U.S. Government Plans Funding for Methane Reduction Projects in Oil, Gas Sectors
The U.S. Environmental Protection Agency (EPA) and the Department of Energy (DOE) released a notice of intent on Friday to help fund projects aimed at reducing methane emissions from the oil and gas sectors.
Diamondback Energy to Acquire Endeavor Energy in $26 Billion Deal
Shale producer Diamondback Energy said on Monday it would buy the largest privately held oil and gas producer in the Permian Basin, Endeavor Energy Partners, in a cash-and-stock deal valued at about $26 billion, including debt.
Plains All American Sees Record Permian Crude Output in 2024
Plains All American said on Friday it expects crude production in the Permian basin, the top U.S. oilfield, to grow between 200,000 and 300,000 barrels a day (bpd) to a record by the end of this year.
National Grid, Constellation Energy Agree on LNG Supply Deal for Massachusetts Facility
Britain's National Grid on Friday said it reached an agreement with gas-supplier Constellation Energy that would allow it to keep operating its Everett gas-import terminal for six years.
Mexico Orders Seizure of Hydrogen Plant at Pemex Oil Refinery
Mexico's government has ordered the expropriation of a hydrogen plant at a Pemex oil refinery that was sold to French company Air Liquide during the previous administration, after officials ordered a temporary occupation of the facility last December.
Russia Extends Permit for LNG Supplies to Germany's SEFE Until 2040
The Russian government has extended a permit for its Yamal LNG plant to supply LNG to German nationalized gas importer and trader SEFE until Dec. 31, 2040, according to a government document published on Friday.
Pemex Platform in Mexico Leaked Clouds of Methane Even After UN Alert, Data Shows
State energy company Pemex released large volumes of methane from an oil platform in the Gulf of Mexico last year, with leaks recurring even after a United Nations agency flagged problems there to the Mexican government, according to a Reuters analysis of previously unreported U.N. data.
Enbridge Warns of Continued Oil Pipeline Congestion Despite Trans Mountain Expansion
Growing Canadian oil production means shipper volumes may still be rationed on the Enbridge Inc. Mainline pipeline system even once the Trans Mountain Expansion (TMX) project is operating, an Enbridge executive said on Friday.
Biden Appoints Democrat Willie Phillips as Head of FERC
President Joe Biden has promoted Willie Phillips to head the Federal Energy Regulatory Commission, the White House said on Friday, as the panel gears up to issue rules to help the power grid distribute more electricity from wind and solar power.
- 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
