Business & Markets
Wolf Carbon Solutions Initiates Withdrawal of Carbon Pipeline Application in Illinois
Wolf Carbon Solutions has moved to withdraw its permit application in Illinois to build a carbon capture pipeline that would transport as much as 12 million tons of carbon dioxide annually to a storage site in the state, according to a company filing in the state regulatory commission docket.
Capital Power Acquires Two Natural Gas-Fired Power Plants in US for $1.1 Billion
Canadian energy company Capital Power said on Monday it was acquiring two U.S.-based natural gas-fired generation facilities in California and Arizona for a net cost of $1.1 billion.
US Coast Guard Investigates Source of 1.1 Million Gallons Oil Leak in Gulf of Mexico from Underwater Pipeline
The U.S. Coast Guard on Monday said it was still looking for the source of a leak from an underwater pipeline off the Louisiana coast in the Gulf of Mexico that it estimated had released more than a million gallons of crude oil.
EACOP Unveils 897-Mile Heated Oil Pipeline with Advanced Environmental Safety Technology
Due to pump its first crude oil in 2025, the EACOP integrates a sophisticated fiber-optic network for continuous online connectivity, ensuring real-time monitoring via satellite along its entire length.
TC Energy Receives FERC Approval for Virginia Reliability Project
Columbia Gas Transmission’s Virginia Reliability Project (VRP) is an expansion project that would replace two existing segments of the pipeline system to continue reliable and abundant natural gas supply.
Tankers Newly Sanctioned by US Supplied Russian Oil to India
Three oil tankers, newly sanctioned by Washington, regularly shipped Sokol crude from Russia's Far East to Indian Oil Corp., the country's top refiner, in recent months, according to ship tracking data from LSEG, Kpler and trade sources.
Japanese Firms, Petronas to Launch CO2 Storage Project by Late 2028
Japanese companies have agreed to develop a carbon capture and storage (CCS) project with Malaysian energy firm Petronas which should start holding its first carbon dioxide (CO2) emissions from end-2028, Japan Petroleum Exploration Co. said on Monday.
Venezuela Close to Approving Offshore Gas License with Trinidad, Shell
Venezuela is close to approving a license for Shell and the National Gas Company of Trinidad and Tobago to develop a promising offshore natural gas field and export its production to the Caribbean country, two people close to the matter said.
Endesa to Safeguard LNG-Focused Dividend Despite $570 Million Court Order
Spanish power utility Endesa said on Monday it plans to shield its dividend payment from the impact of a court order to pay $570 million following a price review of a long-term LNG supply contract.
Texas Men Convicted in Attempted Sale of Iranian Petroleum, Face 45 Years in Prison
A U.S. jury has convicted two Texas men of trying to sell Iranian petroleum in violation of sanctions imposed by Washington and of conspiracy to commit money laundering, the Justice Department said on Friday.
ConocoPhillips' $8 Billion Willow Project Approvals Upheld by US Judge
A federal judge in Alaska upheld U.S. approvals for ConocoPhillips’ multibillion-dollar Willow oil and gas drilling project in the state’s Arctic on Nov. 9, rejecting environmental and indigenous groups' concerns that the project poses too large of a climate threat.
Cedar LNG Secures Exclusive FLNG Shipyard Deal with Samsung and Black & Veatch
(P&GJ) — Pembina Pipeline and Haisla Nation, partners in the development of the proposed Cedar LNG Project, have signed an exclusive agreement with Samsung Heavy Industries and Black & Veatch for shipyard capacity.
Japan's Okinawa Electric Plans to Trial Using Hydrogen at Gas-Fired Power Plant
Japan's Okinawa Electric Power plans to start co-firing hydrogen on a trial basis at a commercial gas-fired power plant from March in a bid to reduce carbon dioxide (CO2) emissions, its president said on Friday.
Iraq-Turkey Pipeline Restart Talks Exclude Industry Representation, APIKUR Says
APIKUR, which represents international companies involved in upstream oil or gas contracts in Iraq's Kurdistan region, have not been contacted by Iraqi or Kurdish officials for a deal to allow the resumption of oil flows from the Iraq-Turkey pipeline.
US Coast Guard Heads Gulf of Mexico Oil Spill Cleanup After Underwater Pipeline Leak
The U.S. Coast Guard was leading an oil spill clean-up in the Gulf of Mexico on Friday, partnering with local and federal agencies and companies after a Main Pass Oil Gathering Co. (MPOG) underwater pipeline began leaking.
Environmental Groups Call for Funding Halt to TotalEnergies' Mozambique LNG Project
Banks and other financiers should withdraw their support of TotalEnergies' $20 billion LNG terminal in Mozambique, environmental lobby groups urged in a letter sent to more than two dozen project funders on Friday.
Illinois Regulators Slash Gas Utility Rate Hikes and Halt Controversial Pipe-Replacement Program
(P&GJ) — In a sweeping rebuff of four different utilities, Illinois regulators have sharply curtailed record rate hikes proposed for more than 4 million gas customers across the state, while also blocking most spending on a controversial pipe-replacement program that has fueled a heating affordability crisis for consumers in recent years.
ENI: Egypt Expected to Resume LNG Exports in December or January
Egypt is expected to resume exports of LNG in December or January as domestic demand declines during winter and as it receives more gas from Israel, an executive at Italy's ENI said on Tuesday.
Oil Futures Spreads Signal Market Moving Toward Oversupply
Spot global crude oil futures traded at a discount to longer-dated contracts this week for the first time in four months, a signal that traders believe the market has become oversupplied and inventories are poised to build.
Chevron Begins Shipping Fuel to Venezuela's PDVSA in Expansion of Oil Swap
U.S. oil firm Chevron Corp. has begun supplying fuel to Venezuela's state-run oil company PDVSA under Washington's approval of expanded deals with the South American country, three people familiar with the matter said on Thursday.
EU Sues Poland Over Restrictions in Cross-Border Trade of Natural Gas
The European Commission on Thursday said it is suing Poland over measures imposing additional costs in cross-border trade of natural gas.
US Hydrogen Tax Credit Rule Faces 2024 Delay Amid Disputes Over Design
The Biden administration could push the release of a highly anticipated rule guiding the use of clean hydrogen tax credits into next year as Treasury officials struggle to resolve disputes between environmentalists and the industry over how "green" to make the incentive, according to two sources familiar with the administration's plans.
CEZ Abandons Planned Polish LNG Terminal Capacity Over Disputed Conditions
Majority state-owned Czech utility CEZ has shelved a plan to secure capacity for LNG at a new Polish terminal because it was unhappy with the conditions offered, two sources with knowledge of the matter told Reuters.
Russian Pipeline Gas Exports to Europe Drop 6.7% in November
Average daily natural gas supplies to Europe by Russian energy giant Gazprom were down 6.7% in the first half of November from their October levels, Reuters calculations show.
Energy Transfer, TotalEnergies Ink Deal for Crude Offtake from Blue Marlin Offshore Port
(P&GJ) — U.S. pipeline operator Energy Transfer said on Thursday it has signed a non-binding agreement to supply crude oil to French energy major TotalEnergies from its upcoming Blue Marlin oil export project.
Texas Regulator Assesses Over $1 Million in Fines for Oil, Gas Operators
(P&GJ) — The Railroad Commission of Texas assessed $1,063,647 in fines involving 342 enforcement dockets against operators and businesses at the Commissioners’ Conference on Nov. 15.
Russian Pipelines Facing Significant Pressure from Tightening Sanctions
(P&GJ) — The Russian pipelines’ sector is experiencing serious pressure amid ever tightening sanctions and the ever-growing isolation of the country in the international arena. Historically, pipelines have been a strategic asset in Russia, with the largest volume of cargo coming in the form of crude oil and natural gas.
Biden Wants to Count Emissions Downstream of Pipeline Projects
(P&GJ) — The Biden administration announced its latest effort to throw a wrench in pipeline construction. The Biden Council on Environmental Quality (CEQ) wants to roll back Trump administration pro-pipeline changes to the National Environmental Policy Act (NEPA).
Editor’s Notebook: It Could Have Been Worse, Revisited
(P&GJ) — With its approval of the Willow Project on the North Slope Alaska early this year, along with its continued of drilling permits on federal lands, the Biden administration has begun to show at least some desire to play ball where oil projects are involved, much to the chagrin of the anti-fossil fuel forces.
Chevron Reviewing Options for East Texas Assets After Shale Acquisitions
Chevron Corp. said it is evaluating options for around 70,000 net acres of land in East Texas' Haynesville shale formation after pausing development earlier this year, with sources saying a full sale is one option under consideration.
- 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
