Business & Markets
Argentina's New Pipeline to Boost Domestic Gas Supply, Eye Export
Argentina launched the Northern Natural Gas Pipeline to enhance domestic supply from the Vaca Muerta shale field, aiming to end reliance on Bolivian imports and potentially enable exports to nearby countries.
Freeport LNG Reports Temporary Shutdown at Texas Facility Due to Power Fluctuation
Freeport LNG reported on Monday that three LNG processing trains at its Quintana, Texas, facility were back online after temporary outages that began on Friday because of a power feed interruption.
Glenfarne Chooses Kiewit for Texas LNG Export Terminal Construction
Glenfarne Group has selected Kiewit as the construction contractor for its Texas LNG export terminal in Brownsville. The facility aims to process 0.5 Bcf/d of natural gas, targeting commercial operations by 2028, with a possible extension to 2029.
U.S. Crude Oil Pipeline Squeeze Boosts Prices at Gulf Coast Export Hub
U.S. crude oil prices at the Gulf Coast export hub have surged due to limited pipeline capacity from the Permian basin. A growing demand for light sweet crude, alongside record production, has widened the price gap between West Texas and Houston.
Hungary Prioritizes Druzhba Pipeline for Crude Imports Despite EU Pressure
In contrast to many other European Union countries, Hungary seeks to maintain close political and business ties to Russia, including reliance on Russian energy.
Chevron CEO Wirth Under Fire as Hess Deal Delay Drags Down Stock Performance
Chevron CEO Michael Wirth faces mounting pressure as the company's stock slides amid delays in the $53 billion acquisition of Hess. The stalled deal, crucial for growth, coincides with declining earnings and rising operational costs, raising concerns among investors about Chevron's future direction.
Venezuela's Oil Exports Surge to 4-Year Peak Amid Higher Output, Demand from U.S., India
Venezuela's oil exports reached a four-year high of nearly 950,000 barrels per day in October, driven by increased crude production and enhanced sales to the U.S. and India, despite ongoing sanctions and recent challenges.
APGA Promotes Erin Kurilla to Executive Vice President
The American Public Gas Association (APGA) has promoted Erin Kurilla to Executive Vice President, Vice President of Advocacy & Operations. The APGA represents over 730 local, municipally owned natural gas systems across 38 states.
Another Major U.S. Oil Refinery Shutting Down as Lyondell Confirms Houston Closure
LyondellBasell Industries plans to permanently close its 263,776 bpd Houston refinery in early 2025, citing long-term shifts in fuel demand amid rising renewable energy and electric vehicle adoption. The closure adds to a wave of U.S. refinery shutdowns as the industry adapts to changing market conditions.
Saudi Arabia May Cut December Oil Prices for Asia, Sources Say
Saudi Arabia, the world’s top oil exporter, may reduce December oil prices for Asian buyers, reflecting weaker demand and lower benchmark prices. This potential price cut could influence OPEC+ considerations to delay increasing oil production, according to sources.
Canadian Natural Cuts Gas Drilling Targets as Prices Slide
Canadian Natural Resources will reduce natural gas drilling in 2024 as weak prices persist, despite stronger-than-expected third-quarter profits driven by oil sands production.
Britain's Centrica Secures 10-Year U.S. Gas Deal with Coterra to Bolster LNG Portfolio
British utility Centrica and U.S. producer Coterra Energy have entered into two gas sale and purchase agreements, which will reduce market risk in Centrica's liquefied natural gas (LNG) portfolio.
Practical Approach to Managing Project Challenges
Creating an innovation platform requires an environment that encourages rapid adoption of industrial changes and an innovative mindset that never mistakes activity for progress.
Engineering Specialists Crucial to Success of Storage Project
Leading supplier of well completion equipment and services, Viking Completion Technology (Viking) has announced the successful completion of a landmark gas storage project.
Enbridge Q3 Profit Surges on U.S. Gas Acquisitions, Raises Growth Forecast
New investments included the $1.1 billion Sequoia Solar project in Texas and the $700 million offshore Canyon System Pipelines project on the U.S. Gulf Coast.
Tokyo Gas in Talks to Acquire Stake in Woodside’s Louisiana LNG Project
Tokyo Gas is in talks with Woodside Energy to acquire a stake in the Louisiana LNG project, an ambitious U.S. Gulf Coast facility poised to convert U.S. shale gas into LNG for export. This potential investment aligns with Tokyo Gas’ strategy to secure long-term U.S. gas supplies.
Cheniere Boosts Annual Forecast as Corpus Christi LNG Project Nears Start
Cheniere Energy raised its annual profit forecast, citing strong demand for LNG and progress on its Corpus Christi expansion, expected to boost output by year-end. The top U.S. LNG exporter also reported increased third-quarter exports and higher spot prices in Asia, fueling its outlook for continued growth in global LNG markets.
ONEOK Completes $2.6 Billion Medallion Acquisition, Largest Private Crude System in Permian
ONEOK, Inc. announced the completion of its $2.6 billion acquisition of Medallion Midstream, the largest privately held crude oil gathering and transportation system in the Permian Basin's Midland region, from Global Infrastructure Partners.
Trump Victory Could Accelerate End of U.S. LNG Export Moratorium, Says Technip Energies
Technip Energies' CEO Arnaud Pieton suggested that a potential victory for Donald Trump in the upcoming presidential election could expedite the lifting of the U.S. moratorium on liquefied natural gas (LNG) exports.
Ecopetrol Halts Pipeline Operations Following Explosive Attack and Oil Spill
Ecopetrol has halted operations on a pipeline transporting oil from the Cira Infantas field in Colombia after an explosive attack caused an oil spill. While no injuries were reported, the incident has resulted in environmental damage, highlighting the ongoing threats to oil operations in the region.
Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
Valero Energy Corp. is evaluating various options for its two California refineries, including potential sales, in response to increasing regulatory pressures in the state. CEO Lane Riggs indicated that "all options are on the table," highlighting the challenges faced by refiners in California.
Marathon Oil to Lay Off Over 500 Texas Workers Ahead of ConocoPhillips Merger
Marathon Oil plans to lay off over 500 workers in Texas as it prepares for its acquisition by ConocoPhillips. The merger, valued at $22.5 billion, is awaiting regulatory approval and is expected to close in late 2024.
OPAL Fuels Launches RNG Operations at Florida Landfill
This marks the company's eleventh operational RNG project and its second facility in the state. The landfill, owned and operated by Polk County’s municipal government, now supplies biogas for OPAL’s project, which produces and injects pipeline-quality RNG.
Cheniere Sets Methane Emissions Target for LNG Facilities
Cheniere Energy Inc. has established a voluntary, measurement-informed Scope 1 annual methane intensity target for its liquefaction facilities. This target is part of the company's climate strategy and draws on data from its multi-scale emissions measurement and mitigation programs.
ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
ConocoPhillips is exploring the sale of over $1 billion in Permian shale assets, part of its strategy to streamline operations ahead of its Marathon Oil acquisition. The Houston-based oil and gas producer aims to raise $2 billion through asset sales.
ONEOK’s Q3 Profit Surges 53% on Rocky Mountain NGL Demand; Annual Forecast Narrowed
ONEOK’s third-quarter profit rose 53%, driven by strong natural gas and NGL demand in the Rocky Mountain region. The pipeline operator narrowed its annual forecast, reflecting growth in its NGL and refined products segments and continued asset expansion.
U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
U.S. liquefied natural gas (LNG) exports could face setbacks if Donald Trump wins the election and imposes a proposed 60% tariff on Chinese imports, analysts say. The move may lead to trade tensions and reduce demand for U.S. LNG from China, affecting export growth.
Crude Oil Imports from Canada Reach Record High After Pipeline Expansion
U.S. imports of Canadian crude hit a record 4.3 million barrels per day in July 2024, spurred by the Trans Mountain pipeline expansion, according to the U.S. Energy Information Administration. The new capacity boosts exports from Alberta to the U.S. West Coast and Pacific markets, impacting Western Canadian Select prices amid evolving refinery demand.
EQT Sells Remaining Pennsylvania Natural Gas Assets to Equinor for $1.25 Billion
EQT Corp. has agreed to sell its remaining Pennsylvania natural gas assets to Equinor for $1.25 billion, with proceeds aimed at reducing debt following its recent pipeline acquisition. The transaction also expands Equinor’s U.S. production footprint in the Marcellus shale.
Phillips 66 Q3 Profit Surges on Midstream and Chemicals Growth
Phillips 66 reported a third-quarter profit surge, driven by strong performance in its midstream and chemicals segments, which helped offset lower refining margins amid softer fuel demand.
- 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
