Business & Markets
Sinopec Natural Gas Output Rises in First-Half 2023
Chinese state-owned energy giant Sinopec's natural gas production in the first half of 2023 rose 7.6% from a year before to 666.1 Bcf, according to a filing with the Shanghai Stock Exchange released on Thursday.
Argentina Turns Away Gunvor-Chartered LNG Tanker, Citing Sanctions
A tanker containing LNG that originated from a Russia supplier and was loaded onto a Gunvor Group-chartered vessel off the coast of France was turned away this week by Argentine energy firm Enarsa, according to officials.
Kinder Morgan Misses Revenue Estimates as Gasoline, Diesel Volumes Drop
While Kinder Morgan's volumes for gasoline and diesel fell in the reported quarter compared to the previous year, its total delivery volumes rose on higher natural gas volumes.
US Looks to Mexico for In-Demand Sour Crude Barrels
The United States is on track in July to take in higher imports of crude oil from Mexico for a second month, as global demand for sour crudes ramps up following production cuts from OPEC+ that have cut off a pivotal source.
Vietnam Approves $11.4 Billion Plan to Expand Fuel Storage Capacity by 2030
The investment would raise the country's crude oil and refined fuel storage capacity to 75 to 80 days of net imports, according to the plan signed by Deputy Prime Minister Tran Hong Ha on Tuesday.
Cheniere Energy Plans to Build New Gas Pipeline to Feed LNG Expansion in Louisiana
Cheniere Energy Inc., the largest U.S. LNG exporter, says it may build a new pipeline to link its Louisiana expansion project to other pipelines in major shale-gas producing regions as it seeks to diversify its risk.
Global News July 2023
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Halliburton, Baker Hughes Highlight LNG Market Resilience Amid North America Shale Weakness
Halliburton shares were down in early trading as markets worried about its exposure to North America markets. However, shares of Baker Hughes — a major equipment supplier to LNG developers — were up, thanks to its exposure to LNG markets.
EverWind to Invest $1 Billion in Hydrogen, Ammonia Production to Power Nova Scotia Project
EverWind Fuels said on Monday it would invest $1 billion in renewable energy generation to power its green hydrogen and ammonia production project in Nova Scotia.
LNG Canada Project Nears Completion as Fluor Wraps Up Module Fabrication
(P&GJ) — With the arrival of the last module by ship from its fabrication yard in Zhuhai, China, Fluor Corp. announced that it has completed the module fabrication program on the LNG Canada project in Kitimat, British Columbia, Canada. The project will have an initial capacity to produce 14 million tons of LNG per year.
Global Construction Update: LNG Markets, Resurgent China Kindle Pipeline Projects
(PGJ) — Global midstream markets continue to face near-term headwinds and economic uncertainties, but Europe’s rapid transition from Russian energy and projected higher demand in Asia continue to drive midstream expansion in those regions and others that supply them.
Editor’s Notebook: Alaska’s Long Road Back
(P&GJ) — With the Biden administration’s recent approval of exports from a proposed LNG project and the rejection of a lawsuit challenging construction of related infrastructure, prospects may again be looking up again for the Final Frontier.
World’s Top LNG Players Push for More, But Greener, Gas Investments
Current investments in gas infrastructure are falling short of what is needed, officials at an industry conference in Japan said on Wednesday, citing the role they say the fuel has to play in both global energy security and the transition to net zero.
Tuscan LNG Terminal to Be Moved Offshore by 2026
An LNG vessel moored in the Tuscan port of Piombino will be moved off the coast of Vado Ligure and Savona in Italy's northwestern region of Liguria, the president of Liguria said on Tuesday.
Japan to Establish LNG Reserves This Year; IEA May Play Bigger Role
Japan, the world's top LNG buyer along with China, is promoting gas as a transition fuel before its economy reaches zero-neutrality in 2050. Japan also wants to be an LNG trading hub for Asia, especially for nations switching from coal to gas.
Enterprise Products Begins Service at New Midland Basin Gas Processing Plant
(P&GJ) — The new plant, the company’s sixth in the Midland Basin, has a nameplate capacity of 300 million cubic feet per day and can extract more than 40,000 barrels of natural gas liquids per day.
US Looks to Buy Another 6 Million Barrels for Emergency Oil Stockpile This Year
The U.S. Department of Energy on Friday said it was looking to purchase another 6 million barrels of crude oil for the Strategic Petroleum Reserve as it continues to refill the stockpile following last year's record drawdown.
Riyadh, Tokyo to Cooperate on Energy Security, Hydrogen and Ammonia
Saudi Arabia said on Sunday it remains committed to securing oil supplies for Japan and will continue cooperating with Tokyo on clean hydrogen, ammonia, and recycled carbon fuels.
EU Considers Gas Imports from Argentina, Document Shows
The European Union is considering possible gas imports from Argentina, a net gas importer that plans to expand domestic production, a draft document showed.
Wood Mackenzie: North American RNG Market Could Reach 4 Bcf/d by 2050
(P&GJ) — The North American renewable natural gas (RNG) market is poised for significant expansion, potentially growing tenfold to reach 4 Bcf/d by 2050, driven by new government incentives for the transportation sector, according to a new report from Wood Mackenzie.
Indian Oil Signs Long Term LNG Import Deals with ADNOC LNG, TotalEnergies
Indian Oil Corp., the country's top refiner, has signed long-term LNG import deals with United Arab Emirates' s Abu Dhabi Gas Liquefaction Co. Ltd. (ADNOC LNG) and France's TotalEnergies.
Iraq-Iran Gas-for-Oil Barter Would Likely Violate US Sanctions
A barter of Iranian natural gas for Iraqi oil as described by the Iraqi prime minister this week would likely violate U.S. sanctions on Tehran unless the U.S. issued a waiver permitting it, three former U.S. officials said on Thursday.
Shell Inks 12-Year LNG Supply Deal with Morocco
The ministry said that the gas will initially be transported from Spanish ports using a gas pipeline that links the two countries until Morocco builds its own LNG terminals.
Gas Executive: Chevron Opted to Buy Versus Build US LNG Processing
Chevron Corp. is comfortable with buying U.S. LNG on long-term contracts rather than constructing its own U.S. domestic export facility, said Freeman Shaheen, the company's head of global gas.
Mountain Valley Asks US Supreme Court to Vacate Stays Halting Pipeline
Mountain Valley Pipeline LLC asked the U.S. Supreme Court in a filing on Friday to vacate stays imposed by a federal court halting construction of a portion of its West Virginia-to-Virginia natural gas pipeline.
Brent Oil Hovers Above $81 After Supply Disruptions
Global benchmark Brent crude hovered above $81 a barrel on Friday, with bullish sentiment over U.S. demand bolstered by supply disruption in Libya and Nigeria.
NextDecade Shares Fall 23% as LNG Project Funding Disappoints Investors
NextDecade Corp. shares fell 23% on Thursday on investor worries over the terms of $18.4 billion financing the U.S. LNG developer obtained to go ahead with the long-delayed Phase 1 of Rio Grande LNG export facility.
Importer Group: Investments in LNG 'Ever More Necessary' as Imports Rise
Global LNG imports rose last year as Europe's scramble to replace Russian pipeline gas pushed its shipments up 60%, making additional investments "ever more necessary" to ensure the security of supply, an importer group said on Thursday.
German Oil Refinery Wants $448 Million in State Aid for Pipeline Upgrade
German oil refinery PCK Schwedt has applied to the economy ministry for $448.2 million in state aid to help it upgrade the Rostock-Schwedt pipeline, the local authority in Brandenburg said on Tuesday following a meeting at the facility.
Exxon Expands Carbon Pipeline Network with $4.9 Billion Denbury Deal
Exxon Mobil Corp. on Thursday agreed to buy Denbury Inc. for $4.9 billion, acquiring a company with a substantial carbon dioxide (CO2) sequestration operation that could accelerate its nascent energy transition business.
- 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
