Business & Markets
Rare Shipment of US Oil Heads to South Africa for Glencore Refinery
A shipment of U.S. oil is headed to South Africa for the first time in two years and destined for a Glencore-owned refinery in Cape Town that has restarted operations after an explosion shuttered it in 2020, according to ship tracking data and a source.
Equinor, Shell and Exxon Agree LNG Project with Tanzania
Equinor, Shell and Exxon Mobil have agreed a deal with the government of Tanzania for the development of a LNG export terminal in the East African country, the two sides said on Friday.
US to Buy 3 Million Barrels to Refill Emergency Oil Reserve
The U.S. Department of Energy said on Monday it will purchase 3 million barrels of crude oil for the Strategic Petroleum Reserve for delivery in August and asked that offers be submitted by May 31.
EIA: US Crude Stockpiles Soar on SPR Release; Gasoline Draws Down on Strong Demand
U.S. commercial crude oil stockpiles jumped unexpectedly last week due to another release from the Strategic Petroleum Reserve, while gasoline inventories dropped as demand surged to its highest since 2021, the Energy Information Administration said on Wednesday.
Australia's Beach Energy Shares Tumble on Waitsia Gas Project Delay
Shares of Beach Energy Ltd. fell nearly 8% on Thursday after the Australian oil and gas explorer said it was no longer prudent to maintain capital expenditure and timing estimates for its $520.93 million Waitsia Stage 2 gas project.
Pipeline Operator Janaf, Hungary's MOL Sign Transport Deal for 2.9 Million Tonnes of Crude
Croatia's oil pipeline operator Janaf has signed a transport and storage deal with Hungary's MOL for shipments of 2.9 million tonnes of crude on the Adriatic pipeline to MOL's Hungarian and Slovak refineries, Janaf said on its website on Wednesday.
Spain Says It Will Not Plug French Energy Gap Left By 'Pink Hydrogen'
France should first cover its domestic energy needs before using its nuclear fleet to produce hydrogen to export through a planned pipeline linked to Spain, Spanish Energy Minister Teresa Ribera told Reuters.
Woodside Open to Talks with Chinese Firms for Scarborough Gas Project
Woodside Energy Group said on Tuesday it is open to talks with Chinese firms to invest in its $12 billion Scarborough LNG project in Australia.
NextEra Partners to Sell Texas, Pennsylvania Gas Pipeline Assets in Renewables Shift
(P&GJ) — Capitalizing on the affordability and demand for significant investments in decarbonizing the U.S. economy, NextEra Energy Partners LP is refocusing on renewable energy. As part of this strategy, the business intends to sell its STX Midstream in the Eagle Ford shale play and Pennsylvania’s Meade natural gas pipeline assets, positioning itself as a fully renewables-based company.
Regional Spotlight: US Consolidates, Expands Ahead of LNG Export Demand
(P&GJ) — U.S. midstream companies would be hard-pressed this year to approach the record earnings that many achieved in 2022, but the sharp decline in oil and natural gas prices from last year’s highs hasn’t blunted their expansion efforts.
Head of Top US Oil-Export Port Resigns Abruptly
Sean Strawbridge, chief executive of the Port of Corpus Christi, the largest U.S. oil-export port by volume, resigned on Tuesday, the port operator said without providing any explanation.
Philippines' First Gen Seeks One LNG Cargo for FSRU Commissioning in September
The company expects to commission its floating storage and regasification unit (FSRU) in Batangas province, about 92 km (57 miles) south of capital Manila, in September, and is looking for an initial LNG cargo of 160,000 cubic meters, said chief commercial officer Jonathan Charles Russell.
Chevron, Exxon Seek State Backing for Australia Carbon Capture, Hydrogen Projects
Chevron Corp. and Exxon Mobil Corp., the two largest U.S. fossil fuel companies, are seeking Australia's backing for carbon capture and storage (CCS) and hydrogen projects as they look to increase investment in a bid to slash intensity of carbon emissions.
Alaska LNG Project Clears Legal Challenge, Advances 800-Mile Gas Pipeline
A U.S. appeals court has rejected a lawsuit filed by environmental groups that challenged the federal approvals required for a $39 billion project aimed at transporting natural gas across Alaska, starting from the North Slope. According to a spokesperson, construction on the 800-mile pipeline and related infrastructure has not yet commenced.
Technip Energies Wins LNG Contract for QatarEnergy’s North Field South Project
(P&GJ) — This award will cover the delivery of 2 mega trains, each with a capacity of 8 MTPA of LNG. It will include a large CO2 carbon capture and sequestration facility of 1.5 MTPA, leading to a more than 25% reduction of greenhouse gas emissions when compared to similar LNG facilities.
Lebanon Strikes Deals to Get More Oil from Iraq
Baghdad has agreed to increase the volume of heavy fuel oil supplied under an existing deal by 50% to 1.5 million metric tonnes this year, Lebanon's energy minister Walid Fayad said in a statement confirmed by the Iraqi prime minister's office.
Fire Breaks Out During Repair of Siberian Gas Pipeline, One Dead
A fire broke out during repair works at the Yamburg-Yelets 1 gas pipeline in western Siberia and one person was killed, a unit of Russia's Gazprom said on Tuesday.
An Operator’s Perspective: How to Comply with New US Gas Gathering, ILI Regulations
(P&GJ) —Traditionally, most gas gathering lines were small-diameter, low-pressure systems traversing sparsely populated areas, posing little risk from a business, safety, and environmental perspective. More recently, the volume of gas transported through gathering systems has increased significantly due to the advancements in horizontal drilling and hydraulic fracturing techniques.
Marcellus Bottlenecks Continue to Muddy the Picture
(P&GJ) — It has gotten to be a familiar yet no less frustrating story for midstream operators in the Marcellus-Utica region: pipeline takeaway capacity remains bottlenecked and production from the gas-rich region continues to stagnate.
Biden Administration Clears Mountain Valley Pipeline for Progress Through Jefferson National Forest
(P&GJ) — The Department of Agriculture's Forest Service issued a record of decision Monday afternoon, allowing the Mountain Valley Pipeline project to cut through a 3.5-mile stretch of the Jefferson National Forest along the West Virginia-Virginia border. The determination clears the way for the project — which is 94% complete but has been mired in a lengthy permitting process for years — to finish construction.
FDE Discovers Natural Hydrogen in Eastern France
(P&GJ) — FDE, an independent multienergy producer with a negative carbon footprint, announced that it has discovered significant concentrations of natural hydrogen in one of the wells previously drilled by FDE in Eastern France.
Cheniere Inks 19-Year LNG Supply Deal with Korea Southern Power
(P&GJ) — Under the agreement, Korea Southern Power has agreed to purchase approximately 0.4 MTPA of LNG from Cheniere on a delivered ex-ship basis from 2027 through 2046, with a smaller annual quantity to be delivered starting in 2024.
Spotlight on Argentina: Projects to Strengthen Gas Service in Northern Region
(P&GJ) — The government of Argentina decided to accelerate the reversal works of the Northern Gas Pipeline, which will guarantee supply to the entire north of Argentina, as well as allowing for exportation to Chile from the Vaca Muerta.
EU Joint Gas Purchases Demand More Than Matched by Supply Offers
Gas suppliers have made offers to supply more than 13.4 Bcm of gas in the EU's joint gas buying scheme, European Commission Vice-President Maros Sefcovic said on Tuesday. The volume offered would more than cover the 11.6 Bcm of gas that European Union companies have requested in the bloc's first round of joint gas buying.
Kazakhstan, Russia Map Out Gas Pipeline to China
The pipeline would help Russia, hit by Western sanctions over its invasion of Ukraine, boost sales of its energy and commodities in Asia while also ensuring that Kazakhstan secures supplies for its central, northern and eastern regions.
Factbox: Carbon Capture, Hydrogen Are the Main Tools in Biden’s Power Plan
The Biden administration on Thursday unveiled its plan to slash greenhouse gas emissions from the U.S. power sector, part of its broader effort to decarbonize the economy to fight climate change.
EIA: US Shale Production Set to Rise to Highest on Record in June
U.S. oil output from the seven biggest shale basins is due to rise in June to the highest on record, data from the Energy Information Administration showed on Monday. Oil output is set to rise by 41,000 barrels per day (bpd) to 9.33 million bpd, the EIA said.
Philippines' Marcos Signs 15-Year Malampaya Gas Contract Renewal
Philippine President Ferdinand Marcos Jr. on Monday signed an agreement extending the production contract for the country's Malampaya natural gas block by 15 years and allowing the operator to drill new wells as it seeks to boost output.
Pipelines a Vital Part of RNG, Cleaner Future
(P&GJ) — Despite misguided opposition around existing or new natural gas pipeline projects, this infrastructure is vital to the United States’ emerging clean energy future for a reason few climate activists talk much about.
ADNOC Launches $1 Million Decarbonization Technology Challenge
(P&GJ) — ADNOC has launched a global competition to find innovations that will reshape the global energy landscape. The competition was launched at UAE Climate Tech Forum in Abu Dhabi, where over 1,000 global policy makers, innovators, and industrial leaders met to drive technological solutions for decarbonization.
- 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
