Business & Markets
Permian Resources Continues Expansion in New Mexico with $175 Million Deals
The company has acquired about 11,500 net leasehold acres and 4,000 net royalty acres located in Eddy County from undisclosed third-parties.
Former Sempra Energy Chief Behind Efforts to Salvage Driftwood LNG Project
U.S. LNG developer Tellurian chose a Lazard Inc. investment banker to right its struggling Driftwood LNG export project, the company's chairman told investors this week.
Phillips 66 Shuts Section of Oklahoma Panhandle Pipeline After Fire
Phillips 66 said it has shut a section of a natural gas pipeline it operates in the Oklahoma Panhandle after fire and rupture that occurred on Tuesday morning.
Oil Producer Hess Tops Profit Estimates on Higher Bakken, Guyana Output
U.S. oil and gas firm Hess beat Wall Street estimates for fourth-quarter profit on Wednesday, helped by higher production in its Bakken shale and Guyana operations.
AG&P LNG Plans 6 South and Southeast Asian Terminals in Next 2 Years
Atlantic Gulf & Pacific Company (AG&P) LNG aims to make a final investment decision (FID) and start developing six liquefied natural gas terminals in South and Southeast Asia within the next one-to-two years, the company's chief executive said.
Environmental Group Unlikely to Challenge Venture Global’s CP2 Construction Permit Approval
Environmentalists are unlikely to challenge in court regulators' expected approval of Venture Global LNG's CP2 export terminal, activist Bill McKibben told Reuters on Tuesday.
Pipeline Operator Enbridge to Cut 650 Jobs Amid Cost Reduction Efforts
North American energy pipeline operator Enbridge said on Tuesday it will cut its workforce by 650 jobs in a bid to cut costs.
Morocco, Nareva, and GE Vernova Forge Partnership for Green Hydrogen Power Plant in Laayoune
The plant is located in Laayoune, the largest city in Western Sahara, a territory Morocco considers its own but where the Algeria-backed Polisario front seeks to establish its own state.
U.S. Awards $242 Million in SPR Contracts to Exxon, Macquarie, Phillips 66, Sunoco
The Biden administration has awarded Strategic Petroleum Reserve (SPR) contracts for 3.1 million barrels of oil worth more than $242 million to Exxon, Macquarie, Phillips 66 and Sunoco, the U.S. Energy Department said in a statement on Monday.
MPLX Exceeds Q4 2023 Expectations with Surge in Pipeline Volumes
Midstream energy company MPLX on Tuesday reported higher fourth-quarter earnings, beating expectations, as its pipelines transported an increased volume of energy products.
Saudi Aramco's Capacity Cut and Pipeline Incident Trigger 11% Drop in Saipem Shares
Shares in Italian energy contractor Saipem plunged by 11% on Tuesday after damage caused by an incident involving one of its pipe-laying vessels and a decision by Saudi Aramco to drop its oil capacity expansion plans.
ADNOC Gas Inks 10-Year LNG Supply Deal with India's GAIL
ADNOC Gas on Tuesday signed a 10-year agreement to supply 0.5 million metric tons per year of LNG to India's largest natural gas company GAIL.
Trans Mountain Oil Pipeline Faces New Delay Due to Technical Issues
Canada's Trans Mountain said on Monday that it had run into technical issues and faces new delays as it tries to complete the final part of expanding its oil export pipeline.
Tallgrass Energy, Bridger Commence Open Season for 830-Mile Pony Express Pipeline Expansion
The open season covers the Northwest portion of the Pony Express line, connecting Bridger Pipeline's Guernsey Hub in southeast Wyoming to Pony Express' Guernsey and Sterling origin terminals in Northeast Colorado.
POET's U.S. Midwest Ethanol Plants to Join Summit Carbon Pipeline Project
POET LLC said on Monday the world's largest ethanol producer will partner with Summit Carbon Solutions to capture carbon dioxide emissions at 17 of its U.S. Midwest ethanol plants as part of Summit's multi-state pipeline project.
Trans Mountain Pipeline Expansion Set to Begin in April, Increasing Crude Flow
Canada's Trans Mountain Corp. will begin adding crude oil to its long-delayed pipeline expansion in February and expects it to start operating in early April and will ramp up to full capacity by the end of the year, an executive said on Wednesday.
U.S. Oil Futures Face Squeeze as Cushing Inventories Dwindle
U.S. crude oil inventories have begun to deplete, especially around the NYMEX futures delivery point at Cushing in Oklahoma and across the Midwest, creating conditions for a squeeze on nearby futures prices.
Alberta Pension Fund AIMCo Flags Interest in Buying Trans Mountain Stake
Alberta Investment Management Corporation (AIMCo), a major pension fund in Canada's main oil and gas-producing province, would be interested in buying a stake in Canada's Trans Mountain pipeline if it became available, a spokesperson said on Thursday.
Nigeria Oil Enters Unclear New Era After Shell's Onshore Asset Sale
Shell's exit from Nigeria's onshore oil sector highlights risks oil majors face in Africa's biggest exporter but has raised hopes that local firms could reverse the output decline from the Niger Delta, industry officials and analysts said.
Concerns Mount Among Activist Investors as Exxon Mobil's Lawsuit Sidesteps U.S. Regulator in Shareholder Dispute
Investors that use shareholder resolutions to pressure companies on environmental and social issues said they are worried that an Exxon Mobil lawsuit bypassing the U.S. securities regulator could undermine their influence.
QatarEnergy, Excelerate Energy Sign 15-Year LNG Supply Deal
QatarEnergy and U.S.-based Excelerate Energy signed on Monday a 15-year agreement to supply 1 million metric tons per year of LNG to be delivered to Bangladesh for 15 years from January 2026.
Dana Gas Resumes Operations at Iraqi Kurdistan’s Khor Mor Gas Field
United Arab Emirates energy firm Dana Gas on Friday has resumed the production operations at Iraqi Kurdistan's Khor Mor gas field have been resumed, the company said in a statement.
Russia’s Planned Gas Pipeline to China Faces Construction Delay
Mongolian Prime Minister L. Oyun-Erdene said construction of Russia's planned new Power of Siberia-2 gas pipeline to China, which was expected to start this year, may be delayed.
INGAA Warns of 'Devastating Ripple Effects' Amid Biden’s Halting of LNG Export Terminal Approvals
In response to the decision, Amy Andryszak, president and CEO of INGAA, emphasized the potential consequences, stating, “The administration needs to appreciate that even a ‘pause’ on approvals can potentially cause devastating ripple effects on national security, energy investments, the supply chain, and American workers and consumers."
Power Plant Operator Drax to Launch Carbon Removal Business in Houston
British power plant operator Drax plans to establish an independent business focused on becoming the global leader in delivering large-scale and high-integrity carbon removal.
Biden Halts LNG Export Approvals Amid Climate Pressure, Imperils Projects
President Joe Biden has paused approvals for pending and future applications to export LNG from new projects on Friday, a move cheered by climate activists that could delay decisions on new plants until after the Nov. 5 election.
Freeport LNG Faces Month-Long Unit Outage Due to Winter Storm
Freeport LNG expects one of the three gas liquefaction units at its Texas plant to be out of service for a month after it faced a technical issue during Winter Storm Heather, the company said on Friday.
Sources: Biden to Announce Delay on New LNG Export Terminal Approvals
The Biden administration is expected to announce on Friday that it will begin considering climate impacts in its approvals of new LNG exports, a process that will likely delay decisions on new terminals until after the Nov. 5 presidential election, two sources familiar with the matter said.
Seaside LNG Achieves First In-Port Ship-to-Ship LNG Bunkering Delivery in Galveston
This operation marked the first in port ship-to-ship LNG bunkering delivery not only in Galveston but also along the entire U.S. Gulf Coast.
Texas LNG Receives Regulatory Approval for Final Investment Decision
Texas LNG, a subsidiary of Glenfarne Energy, obtains permits for its 4 MMtpa LNG export terminal in the Port of Brownsville, Texas, marking a crucial step towards a final investment decision.
- 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
