Business & Markets
Africa Explores Vast Clean Hydrogen Potential
The launch of the Africa Green Hydrogen Alliance (AGHA) by Kenya, South Africa, Namibia, Egypt, Morocco, and Mauritania came on the same day that the European Union published its ‘REPowerEU Plan’ to accelerate renewable energy deployment and end its reliance on Russian oil and gas.
Engie Bets on Korean Demand with $7 Billion Oman Green Ammonia Project
The approximately $7 billion project will consist of five gigawatts of new wind and solar, an electrolyzer producing 200,000 tons of hydrogen each year, and dedicated hydrogen pipelines to bring the gas to an ammonia production plant near the port of Duqm.
Russia Bans Tiny US-based NGO for 'Sabotaging' Vast Gas Pipeline
Russia accused a small U.S.-based charity on Wednesday of "sabotaging" the construction of a huge gas pipeline to China and banned it as an "undesirable organization."
Brent Crude Steady as Supply Cuts Offset Economic Fears
Brent crude oil prices were little changed on Wednesday as supply cuts announced this week by top crude exporters Saudi Arabia and Russia countered concern over the global economy.
Mexico Pacific Signs 20-Year LNG Supply Deal with China's Zhejiang Energy
Mexico Pacific Ltd. has struck a 20-year deal to sell 1 million tons of LNG a year from its Saguaro Energia export plant in Sonora state to China's Zhejiang Energy, it said on Wednesday.
PetroVietnam Gas Talking to Exxon Mobil, Novatek on LNG Supply
PetroVietnam Gas said it was in separate talks with U.S. energy giant Exxon Mobil and Russia's Novatek on LNG cooperation, as it seeks to secure long-term supplies for Vietnam's future LNG-fired power plants.
Italy's Eni Wants to Reduce Oil Exposure with Asset Sales
Italy's Eni aims to reduce its exposure to oil in favor of natural gas and non-fossil fuels in part through asset sales, the energy group's CEO Claudio Descalzi said on Tuesday.
Trans Mountain Pipeline Expansion Likely to Send More Canadian Oil to US, Not Asia
The Trans Mountain pipeline expansion (TMX) was meant to unlock Asian markets for Canadian oil, but analysts and traders said those barrels now will probably land on the U.S. West Coast as Asia gobbles up Russian oil that is cheaper due to sanctions from Western countries after Moscow's invasion of Ukraine.
Portugal Doubles 2030 Goals for Solar and Hydrogen Capacity
Portugal has more than doubled its 2030 goals for installed capacity of solar energy and electrolyzers to produce green hydrogen, as it aims to decommission natural gas-fired power plants by 2040 and possibly become carbon neutral by 2045.
Research Shows US LNG Sector Poised for Nearly $30 Billion in FIDs
(P&GJ) — Research shows the U.S. LNG sector is poised for nearly $30 billion in FIDs, boosting global energy security. Cheniere Energy leads with expansions, while upcoming investments worth $27.5 billion are projected until 2024.
NextDecade Receives Bank Commitments for Rio Grande LNG
(P&GJ) — NextDecade Corp. has announced that Rio Grande LNG has received binding commitments from a syndicate of lenders in an amount sufficient, together with expected project equity funding, to support a positive FID on Phase 1 of the Rio Grande LNG plant in Brownsville, Texas.
Russia to Cut Oil Exports by 500,000 bpd in August
Russia will cut oil exports by 500,000 barrels per day (bbl/d) in August, President Vladimir Putin's point man on oil said on Monday, as Moscow seeks to nudge up global oil prices in concert with Saudia Arabia.
Leviathan Partners in Israel to Invest $568 Million in Third Gas Pipeline
Partners in the Israeli offshore gas project Leviathan said on Sunday they would invest $568 million to build a third pipeline that will allow increased natural gas production and exports.
Venture Global LNG Seeks Approval to Speed Up Plant Construction
Venture Global LNG has asked U.S. regulators for an expedited review of a request to add construction workers to its Plaquemines LNG export project and to allow work around the clock seven days per week.
US Dept of Energy Grants Export License to Gulfstream LNG
Gulfstream LNG Development has received an export authorization from the U.S. Department of Energy to advance its proposed LNG export plant in Louisiana, the company said on Friday.
Cheniere Energy Returns Sabine Pass LNG Export Plant to Full Production
Cheniere Energy Inc.'s Sabine Pass LNG export facility returned to full production this week after undergoing maintenance, data from Refinitiv showed.
ADNOC Selects Petrofac for $700 Million Gas Compressor Plant Project at Habshan Complex
(P&GJ) — ADNOC Gas Processing has selected Petrofac to undertake a significant new engineering, procurement and construction project at its Habshan Complex.
Uganda Expects to Start Oil Production from Tilenga Project in 2025
Oil from the Tilenga project will be transported via the $3.5 billion East African Crude Oil Pipeline (EACOP) to the port of Tanga in Tanzania for export.
Sinopec's First Green Hydrogen Plant Starts Production in Xinjiang
Sinopec's first green hydrogen facility has the capacity to produce 20,000 metric tons of hydrogen a year, using solar power to electrolyze water, the company said in a statement.
Germany, South Africa Agree to Cooperate on Green Hydrogen Projects
Germany and South Africa on Tuesday agreed to cooperate on green hydrogen projects in the latest bid by Europe to tap into Africa's huge renewable resource potential to meet 2050 net-zero targets.
Greek Gas Grid Says 27 Companies Interested in Booking Future Capacity
Greece has become a key transit route for gas in Europe thanks to a liquefied gas facility off Athens, which saw increased traffic from around the world after the war in Ukraine cut flows of Russian gas to the continent.
Sources: Energy Producer TRP Explores $1.5 Billion Permian Asset Sale
TRP, in which Greenbelt Capital Partners owns a controlling stake, holds around 15,000 net acres in the Midland portion of the Permian and produces about 25,000 barrels of oil equivalent per day, said the sources.
Beijing Holds All Cards in Russia’s Eastern Energy Pivot
(P&GJ) — Russia is looking to build on its energy ties with China, a key buyer of its gas. But Beijing’s position of power in the relationship may mean the sanctioned producer is in no rush to complete new projects, especially the much-discussed Power of Siberia 2 pipeline.
Italy Energy Minister Sees LNG Terminals Covering 50% of Gas Needs
Italy's Environment and Energy Minister Gilberto Pichetto Fratin said on Wednesday that deliveries by ship of LNG were a reliable source of energy that could cover 50% of the country's gas needs.
Japan's Mitsui OSK Gets Approval for Liquefied CO2 Vessel, Floating Storage Unit
Liquefied CO2 transportation helps connect carbon capture, utilization and storage (CCUS) sites safely and efficiently over long distances where pipelines are not economically viable.
Montauk Renewables to Build Biogas Facility in Orange County, California
Capital investment for the project is estimated between $85 million and $95 million, the company said, with its commissioning expected in 2026 to produce about 3,600 million British thermal units per day.
MVP Pipeline Foes Say Congress Can't 'Mandate Victory' for the Project
A provision of the U.S. debt ceiling bill that streamlined the federal approval process for the $6.6 billion Mountain Valley Pipeline and limited court reviews of challenges to the project violates the U.S. Constitution’s separation of powers doctrine, opponents of the pipeline have claimed.
Mexico's CFE and ESENTIA Sign $300 Million Memorandum for Gas Project
Mexican state power utility Comision Federal de Electricidad (CFE) said on Tuesday it had signed a memorandum of understanding with ESENTIA Energy Systems to develop natural gas infrastructure with a $300 million investment.
Oil Shippers on Canada's Trans Mountain Expansion Dispute Pipeline Tolls
Oil shippers on the Trans Mountain expansion project are challenging proposed pipeline tolls filed by Canadian government-owned Trans Mountain Corp. with regulators last month, citing concerns about significant cost increases.
Russian Firm Asks Venezuela to Match Chevron Oil-for-Debt Deal
A Russian oil firm is asking Venezuela's state-run company PDVSA for permission to take control of exports from their joint ventures to revive cash flow from the five companies, which have been hard-hit by U.S. sanctions, two people involved in the talks said.
- 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
