Europe
OPEC+ Set to Move Forward with October Output Hike Despite Demand Woes, Sources Say
OPEC+ is set to proceed with a planned oil output hike from October, as Libyan outages and pledged cuts by some members to compensate for overproduction counter the impact of sluggish demand, six sources from the producer group told Reuters.
Russia's Tatneft Increases Oil Exports to Slovakia, Hungary Amid Lukoil Sanctions
Russian companies, mainly Tatneft, have boosted oil exports to Slovakia and Hungary to replace supplies lost after Ukraine sanctions halted exports from Moscow-based Lukoil, Kommersant newspaper said on Thursday.
China's Hygreen Energy to Invest $2.2 Billion in Spanish Green Hydrogen Plant
The investment is part of a broader set of agreements, which include a deal with Spanish firm Coxabengoa to manufacture and develop green hydrogen technology in the Spanish region.
Enbridge Predicts Rising Oil Demand Through 2050 as U.S. Supply Grows
Enbridge CEO Greg Ebel predicts global oil demand could surpass 110 million barrels per day by 2050, prompting significant investments in U.S. supply and LNG expansion.
Norwegian Piped Gas Exports Could Rival Historic Highs in 2024, Gassco Says
Norwegian pipeline gas exports to Europe could approach a 2017 historic record this year, after rising 10% so far in 2024 following a decline in 2023, the head of system operator Gassco told Reuters on Tuesday.
Unexploded WWII Bomb Halts Production at Czech Refinery, Forces Shutdown
Orlen's Czech unit Unipetrol is shutting down production in its Litvinov refinery after an unexploded World War Two bomb was found in a remote part of the chemical complex in Zaluzi, the Czech company said on Wednesday.
Global News August 2024
Latest industry developments from around the world!
Hungary's MOL Nears Final Agreement for Russian Oil Transport Amid Kyiv Ban
Hungary's MOL is in the final stages of talks to set up a scheme to ensure crude oil flows from Russia after Kyiv banned its main partner Lukoil's transport through its pipelines, a Hungarian government official said on Thursday.
U.S. Oil Export Growth Slows as Output and Global Demand Wane
U.S. crude oil export gains should plateau in 2024 after years of strong growth, with domestic output expected to increase by the smallest amount since the pandemic at a time when global oil demand remains sluggish.
EnBW to Invest $1.1 Billion in Expanding Germany’s Hydrogen Network, Including Conversion of 155-Mile SEL Gas Pipeline
(P&GJ) — EnBW is set to invest $1.1 billion in Germany’s hydrogen infrastructure, focusing on integrating and converting the 155-mile SEL gas pipeline into a key component of the country’s expanding hydrogen network.
Spain’s Cepsa Sells Iberian Gas Unit for $302 Million to Empresas Copec
Spain's second-largest oil company Cepsa has agreed to sell its liquefied gas division Gasib in Spain and Portugal to a unit of Chile's Empresas Copec for $302.42 million, the companies said on Friday.
Germany Issues Arrest Warrant for Ukrainian in Nord Stream Pipeline Attack, But Suspect Has Fled, Officials Say
Poland received a European arrest warrant issued by Berlin in connection with the 2022 attack on Nord Stream pipelines, but the suspect, a Ukrainian man named as Volodymyr Z, has already left Poland, Polish prosecutors told Reuters.
Swan Energy to Sell $399 Million Stake in LNG Terminal to Turkish Firm
Indian oil and gas firm Swan Energy plans to sell a stake in one of its LNG terminals to Turkish state energy company BOTAS in a deal worth $399 million, it said in an exchange filing on Wednesday.
UK Court Rules Approval for BP-Backed Gas-Fired Power Station Was Lawful
Britain's approval of a new gas-fired power station backed by BP was lawful, London's High Court ruled on Wednesday, dismissing a legal challenge over the project.
Ukraine Approves $20 Billion Plan to Boost Renewable Energy to 27% by 2030
Ukraine will need $20 billion in investments to develop its renewable power sector under a plan which seeks to boost its share in the country's energy mix to 27% by 2030, the government said on Tuesday.
Navigator Gas, Bumi Armada, Bluestreak CO2 Partner with Uniper for UK CO2 Export Study
This partnership aims to establish a comprehensive CO2 value chain, including shuttle tankers and storage units, to transport and store captured CO2 from Uniper’s Grain site.
End of an Era? Russian Gas Flow to Europe via Ukraine in Question
Russia continues to supply gas to Europe through Ukraine, despite the war and shifting energy dynamics. With the transit deal ending in 2024, the future of these gas flows remains uncertain.
Miros Supports Pipeline Installation for Northern Lights CCS Project
Miros has successfully supported the laying of a 109 km (68 miles) pipeline for the pioneering Northern Lights CO2 transport and storage (CCS) project in Norway.
Ukraine Pierces Russian Border Near Major Gas Transmission Hub
Russia said on Wednesday that it was fighting intense battles against Ukrainian forces which had penetrated the Kursk region near a major natural gas transmission hub in one of the largest incursions into Russia since the war began in February 2022.
Cheniere Strikes 20-Year LNG Deal with Portugal's Galp Energia
Cheniere Energy has agreed to supply 0.5 million tonnes per annum of liquefied natural gas to a subsidiary of Galp Energia for 20 years.
Hungary's MOL CEO Sees No Need to Wean Off Russian Oil
The head of Hungarian oil and gas giant MOL has said he sees no advantage in Hungary weaning itself off Russian oil supplies and dismissed warnings of fuel shortages in the country as "politics".
U.S. Dominates Global Natural Gas Production and LNG Exports
The U.S. has reinforced its position as the leading global producer of natural gas and LNG exporter, with notable increases in LNG supply and significant reductions in European and Russian gas imports.
Russian Pipeline Gas Exports to Europe Reach Highest This Year
Russian energy giant Gazprom's average daily natural gas supplies to Europe in July reached their highest this year, up 5.7% compared with a year ago and 12% higher than in June, Reuters calculations showed.
BP to Construct Up to 10 Green Hydrogen Projects This Decade
BP aims to construct five to 10 low-carbon hydrogen projects this decade in order to produce clean fuels and reduce greenhouse emissions, CEO Murray Auchincloss said on Tuesday.
Enagas Gets Initial Approval for Spanish Section of H2MED Hydrogen Pipeline
The Spanish government gave a first go-ahead to gas grid operator Enagas to start developing the Spanish section of a planned trans-European hydrogen pipeline and related hydrogen infrastructure projects.
Lukoil Increases Seaborne Oil Exports as Druzhba Pipeline Suspended
Lukoil, Russia's largest private oil company, has ramped up oil exports via the country's sea ports as its supplies via the Druzhba pipeline route to Europe are currently suspended.
Turkey to Sign Long-Term LNG Contracts for 2027-2037, Minister Says
Turkey is set to finalize long-term contracts for liquefied natural gas (LNG) to cover the 2027-2037 period, Energy Minister Alparslan Bayraktar said on Friday.
Italy to Unveil Hydrogen Corridor Plan This Autumn, May Include Switzerland
The so-called SouthH2 Corridor would connect North Africa, Italy, Austria and Germany, allowing renewable hydrogen produced in the Southern Mediterranean to reach European industries.
Citi Warns Trump Presidency Could Drive Oil Prices Lower
A Donald Trump presidency could be net bearish for oil prices due to a combination of factors including tariffs and oil-friendly policies and pushing OPEC+ to release more oil into the market, Citi said in a research note on Thursday.
Edison and Snam Sign $608 Million Gas Storage Deal
EDF's Italian unit Edison will sell its gas storage unit to gas grid operator Snam in a deal giving the assets an enterprise value of around $608 million, the two companies said on Thursday.
- Missouri Loses Control Over 1.5 Million-Mile Gas Pipeline Network as Feds Step In
- 1,000-Mile Pipeline Exit Plan by Hope Gas Alarms West Virginia Producers
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Greenpeace Ordered to Pay $667 Million to Energy Transfer Over Dakota Access Pipeline Protests
- Canada’s Canceled Oil Pipelines: The Projects That Didn’t Make It
- New Alternatives for Noise Reduction in Gas Pipelines
- Editor’s Notebook: Fire Fuels Pipeline Concerns
- Missouri Loses Control Over 1.5 Million-Mile Gas Pipeline Network as Feds Step In
- Enbridge Plans $2 Billion Upgrade for North America’s Largest Crude Pipeline
- South Dakota Governor Signs Bill Banning Eminent Domain for Carbon Pipeline
