Business News
Nigeria to Back $2.59 Billion AKK Gas Pipeline with Sovereign Guarantee
Nigeria will issue a sovereign guarantee to back the bulk of a gas pipeline that is a core part of the government's energy strategy, Finance Minister Zainab Ahmed said on Wednesday.
Canadian Agency Determines Corrosion Caused 2018 Enbridge Gas Pipeline Blast
An explosion and fire in 2018 along an Enbridge Inc natural gas pipeline in northern British Columbia was caused by corrosion, Canada's Transportation Safety Board (TSB) said on Wednesday.
U.S. Crude Oil Production Grew 11% in 2019 — EIA
Annual U.S. crude oil production reached another record level at 12.23 million barrels per day (b/d) in 2019, 1.24 million b/d, or 11%, more than 2018 levels.
U.S. Gas Prices Turn Negative at Texas Waha Hub
Natural gas prices at the Waha hub in the Permian basin in West Texas fell into negative territory, forcing some producers to pay other parties to take their gas.
API Issues New Pipeline Safety and Sustainability Standard
The American Petroleum Institute (API) today issued a new standard for pipeline inspectors to enhance safety and sustainability during pipeline construction.
Tatanka Midstream Secures $500 Million Capital Commitment from EnCap Flatrock
Cap Flatrock Midstream has committed an initial $500 million of capital into Tatanka Midstream, a new independent energy company focused on acquiring and building midstream assets in North America.
Tellurian Looking to Cut Costs Amid Weak LNG Demand
Liquefied natural gas (LNG) producer Tellurian Inc said on Monday that it planned to cut spending and was seeking to extend the maturity date of a loan, as it looks to cope with weak demand and low prices for the fuel.
CERAWeek Energy Conference in Houston Canceled Over Coronavirus Worries
Coronavirus concerns prompted organizers on Sunday to cancel one of the world's most prestigious gatherings of oil ministers and top executives from the energy and financial industries scheduled for this month in Houston.
Energy Transfer Announces Supplemental Open Season for Bayou Bridge Pipeline System
Energy Transfer subsidiary, Bayou Bridge Pipeline has launched a Supplemental Open Season to solicit additional shipper commitments for transportation service from Nederland, Texas to Lake Charles, Louisiana through the Bayou Bridge Pipeline System.
Coastal GasLink Construction Allowed to Continue, Tentative Deal Reached with Protesters
Canadian authorities on Sunday said construction would continue on TC Energy’s Coastal GasLink pipeline after reaching a tentative deal with the indigenous group that has been protesting the project.
Trafigura, Phillips 66 Form JV for Deepwater Texas Oil Port
Global commodities trader Trafigura said on Friday it had formed a joint venture with U.S. refiner Phillips 66 to build a major deepwater port in Texas capable of handling supertankers, ditching its own competing project.
EQT Corp Sells Half Its Stake in Pipeline Operator, Strikes Rate Relief Deal
EQT Corp said on Thursday it renegotiated its gas transportation rates and sold half its stake in pipeline company Equitrans Midstream Corp as the largest U.S. natural gas producer tries to cope with low fuel prices.
China Imports 840 Million Cubic Meters of Gas Through Power of Siberia
China imported 840 million cubic meters of natural gas by Feb. 25 through the "Power of Siberia" pipeline, launched in December, or an average of 10 million cubic meters daily, state-run Xinhua news agency said late Wednesday.
Eversource to Acquire Columbia Gas of Massachusetts Assets for $1.1 Billion
Eversource Energy announced that it has reached an agreement to purchase the Massachusetts natural gas assets of Columbia Gas for $1.1 billion from NiSource.
Cheniere Says Too Early to Gauge Impact of Coronavirus on LNG Market
Cheniere Energy Inc, the biggest U.S. liquefied natural gas company, said on Tuesday it does not expect “significant or prolonged curtailment of U.S. LNG production” as low global gas prices cause some customers to cancel cargoes.
Saudi Aramco Launches Largest Shale Gas Development Outside U.S.
Saudi Aramco is launching the biggest shale gas development outside of the United States to boost domestic gas supply and end the burning of oil at its power generation plants, Chief Executive Officer Amin Nasser told Reuters on Monday.
Williams Cancels N.Y. Constitution Pipeline
Williams Cos Inc said on Monday it canceled the proposed Constitution natural gas pipeline from Pennsylvania to New York following years of opposition from politicians and environmental groups in New York.
U.S. Supreme Court Leans Toward Atlantic Coast Pipeline
A majority of the U.S. Supreme Court on Monday seemed inclined to find that the federal government had authority to grant a right of way for a proposed $7.5 billion natural gas pipeline to cross under the popular Appalachian Trail in rural Virginia.
Phillips 66 Partners Acquires Interest in Liberty Pipeline
Phillips 66 Partners LP has reached agreement with Phillips 66 to acquire its 50% interest in the Liberty Pipeline project for approximately $75 million.
Shell Considering Mars Pipeline Expansion
Shell Midstream Partners LP expects to take final investment decisions on expanding its Mars crude oil pipeline system in the Gulf of Mexico in the first half of the year, Chief Executive Kevin Nichols said on Thursday.
North Dakota Regulators Approve Dakota Access Pipeline Expansion
North Dakota regulators on Wednesday unanimously approved expanded capacity for the Dakota Access pipeline, saying they believed the project had met exhaustive state and federal requirements.
Energy Transfer Signs NGL Transportation, Processing Agreement
Energy Transfer LP said on Wednesday it signed agreements with an undisclosed company for the gathering, processing, transportation and fractionation of natural gas liquids (NGLs) in the Eagle Ford shale basin through 2034, and the Delaware basin through 2040.
Canada Rail Company Lays Off 1,000 Staff Under Blockade Pressure
Canada's passenger rail company on Wednesday said blockades by demonstrators had forced it to temporarily lay off 1,000 employees, adding to pressure on Prime Minister Justin Trudeau to solve a two-week protest.
Canada Seeks Peaceful End to Rail Blockade as Pressure Builds
Canada is seeking a peaceful end to a rail blockade that has shut down freight and passenger traffic, Prime Minister Justin Trudeau said on Tuesday, amid increasing pressure from the Conservative opposition to clear the tracks.
Mexico's Pemex Signs Contracts for New Oil Projects — CEO
Mexican national oil company Pemex has begun signing contracts with oilfield service firms specifically invited to submit bids for a new batch of projects, the state-owned company’s chief executive said.
Gas Prices Fall to Lowest Level Since 2016, Lowest February Prices in 20 Years - EIA
New data released last week by the U.S. Energy Information Administration (EIA) reveals that LNG prices reached their lowest February closing price for the near-month contract in almost 20 years.
Qatar Delays Natural Gas Partnership Expansion Amid Price Collapse — Sources
Qatar has delayed choosing Western partners for the world’s largest liquefied natural gas project by several months after surprising the industry with a big expansion plan despite a collapse in global gas prices, four sources said.
Gas Line Fire at Citgo Corpus Christi, Texas Under Control
A gas pipeline fire at Citgo's 157,500 barrel-per-day refinery in Corpus Christi, Texas on Monday morning is under control and air-quality monitoring suggests it is safe for residents to leave their homes, a city official said.
TC Energy Unsure About Keystone XL Pipeline
TC Energy Corp sees too much uncertainty to commit immediately to the long-delayed Keystone XL oil pipeline project, company executives said on Thursday, even as TC prepared for construction.
Enbridge to Purchase Rio Bravo Pipeline from NextDecade
NextDecade Corporation and Enbridge announced that they have entered into a definitive agreement whereby Enbridge will acquire Rio Bravo Pipeline Company, LLC from NextDecade.
- 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
- Energy Transfer to Build $5.3 Billion Permian Gas Pipeline to Supply Southwest
- Enbridge Sees High Demand to Expand 593-Mile Canada-to-U.S. Gulf Oil Pipeline
- Strike Pioneers First-of-Its-Kind Pipe-in-Pipe Installation on Gulf Coast with Enbridge
- 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
- Strike Pioneers First-of-Its-Kind Pipe-in-Pipe Installation on Gulf Coast with Enbridge
- Enbridge Sees High Demand to Expand 593-Mile Canada-to-U.S. Gulf Oil Pipeline
