Business News
Pipeline Shares Sink on Oil Decline, Coronavirus Impact
It’s a common refrain among investors that “a rising tide lifts all boats,” meaning the share prices of similar companies tend to act in unison. Unfortunately, that’s equally true of falling tides, as demonstrated by the performance of North American midstream equities in recent weeks.
Shell Greenlights $6.4 Billion Australia Natural Gas Project
Shell announced it has made a final investment decision (FID) to proceed with a $6.4 billion natural gas project in Queensland, Australia.
ConocoPhillips Cuts Oil Output in North America by 30%
ConocoPhillips is cutting its oil output by 30% of its 2020 target, more than any U.S. producer so far.
U.S. Natural Gas Prices Jump 5% as Output Falls
Prices for natural gas rose 5% in the U.S. on Thursday as production falls in line with cuts to crude oil output.
U.S. Court Rules Against Permit for Keystone XL
The Keystone XL pipeline project suffered another setback on Wednesday after a U.S. court ruled against a key permit issued by the U.S. Army Corps of Engineers allowing new energy pipelines to cross bodies of water.
Tallgrass Energy Shareholders Approve Blackstone-Led Buyout
Tallgrass Energy shareholders have approved a buyout deal worth over $6 billion from a group led by the Blackstone investment company, retaining the valuation offered before the market crash.
U.S. Crude Stocks Jump by Record 19 Million Barrels: EIA
Crude oil stockpiles in the U.S. rose by 19 million barrels last week, the largest one-week increase in history.
Kazakhstan Pipeline Work Continues Despite Tengiz Slowdown
Kazakhstan's biggest oil producer has reduced some work on its $45 billion expansion project in the west of the country due to the coronavirus outbreak, but pipeline construction continues.
LNG Ltd Looks for New Partners After Takeover Bid Withdrawn
Liquefied Natural Gas Ltd said on Tuesday it is negotiating with other parties and has enough money to keep operating until May after Singapore-based LNG9 withdrew its takeover bid because the financing fell through:
OPEC+ Approves Historic Oil Cut Amid Coronavirus Pandemic
OPEC and allies led by Russia agreed on Sunday to cut oil output by a record amount - representing around 10% of global supply - to support oil prices amid the coronavirus pandemic, and sources said effective cuts could amount to as much as 20%.
U.S. Railroads Refusing Demands for Oil Storage in Rail Cars
American railroad companies are refusing to store oil in rail cars as storage space rapidly dwindles.
Ecuador Halts Crude Pipelines Due to Landslide, Says Exports Unaffected
Ecuador Halts Crude Pipelines Due to Landslide, Says Exports Unaffected
Keystone XL Construction Begins at U.S.-Canada Border
TC Energy said construction has begun on the Keystone XL crude oil pipeline at the U.S.-Canada border.
Enbridge Running Mainline with Unused Space as Canada Cuts Oil Output
Enbridge is running its Mainline system with unused space as producers begin to cut output, according to an executive with the company.
Qatar Petroleum Maintains Scope of LNG Expansion, Postpones Production — CEO
The CEO of Qatar Petroleum said that while the company intends to delay the start of production of its LNG facility, there are no plans to reduce the scope of the expansion project.
Texas Might Curb Oil Output Under Broader OPEC+ Deal — Regulator
A Texas oil regulator said that America's largest producing state would consider cutting production if Saudia Arabia and Russia reached a curtailment deal.
Kazakh Oil Producers Seek New Pipeline Route
Oil producers in Kazakhstan are looking for a new pipeline route to Baltic and Black sea export facilities.
EnLink Midstream Lays off 20% of Workforce
EnLink Midstream said it has laid off about 300 employees, or 20% of its workforce, to cut costs amid an unprecedented crash in oil prices because of the coronavirus outbreak and a price war between Saudi Arabia and Russia.
U.S. to Lease Strategic Reserve Space After Buying Plan Canceled — Sources
The Trump administration is considering leasing storage space in the Strategic Petroleum Reserve after plans to purchase oil collapsed.
Texas Energy Industry Tackles Flaring, Methane Emissions
A group of Texas-based energy companies and trade associations has formed a coalition to tackle flaring and methane emissions across the industry.
AGA Chair Diane Leopold Brings Positive Outlook to Challenging Period for Industry
Diane Leopold became chair of the American Gas Association just in time for an unprecedented economic shutdown in response to the coronavirus pandemic. The executive vice president and co-chief operating officer of Dominion Energy, talked to P&GJ about the challenges and opportunities facing the natural gas industry.
Canada's Inter Pipeline Halts sale of European Unit Due to Coronavirus Impact
In another blow to the energy sector caused by the coronavirus pandemic, Canada's Inter Pipeline has stopped the sale of its European liquid storage business.
Coronavirus Crisis 'Game Changer' for Oil Sector: Goldman Sachs
Analysts from Goldman Sacha say the oil sector will emerge from the coronavirus pandemic leaner and stronger but the crisis still poses a risk for shortages down the line.
Poland's PGNiG Wins $1.5 Billion in Court Battle with Gazprom
Polish gas distributor PGNiG has won a $1.5 billion settlement with Russia's Gazprom.
TC Energy Proceeds with Keystone XL After Alberta Commits $1.1 Billion
Construction on the Keystone XL pipeline could begin as early as this week after the Alberta government committed over $1 billion to the project.
U.S., Russia Agree to Oil Market Talks
Russian and U.S. leaders have agreed to meet to discuss the collapsing global oil market.
Saudi Arabia Plans to Boost Oil Exports to 10.6 Million Bpd from May
Saudi Arabia is planning to increase its oil exports to 10.6 million bpd beginning in May.
U.S. LNG Storage to Hit Record as Pandemic Cuts Demand, Exports
Stockpiles of natural gas in the U.S. are expected to reach record levels this year as producers continue to flood the market with supply as demand plunges in the wake of the coronavirus pandemic.
Saudi Arabia Says no Talks with Moscow on New Oil Deal
Saudia Arabia said it is not in talks with Russia to develop a new deal on oil production to stabilize erratic oil prices driven by uncertainty from the coronavirus pandemic.
LNG Suppliers Flood Market with Excess Spot Cargoes as Demand Shrinks
Major LNG suppliers around the world are flooding the market with spot cargoes driving prices down even further as demand dries up due to the coronavirus pandemic.

- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Enbridge Plans 86-Mile Pipeline Expansion, Bringing 850 Workers to Northern B.C.
- Intensity, Rainbow Energy to Build 344-Mile Gas Pipeline Across North Dakota
- U.S. Moves to Block Enterprise Products’ Exports to China Over Security Risk
- Court Ruling Allows MVP’s $500 Million Southgate Pipeline Extension to Proceed
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- A Systematic Approach To Ensuring Pipeline Integrity
- 275-Mile Texas-to-Oklahoma Gas Pipeline Enters Open Season
- LNG Canada Start-Up Fails to Lift Gas Prices Amid Supply Glut
- TC Energy’s North Baja Pipeline Expansion Brings Mexico Closer to LNG Exports