Middle East
ADNOC Gas to Acquire $5 Billion Stake in Ruwais LNG, Doubling Capacity by 2028
ADNOC Gas will acquire a $5 billion, 60% stake in Ruwais LNG, doubling its processing capacity by 2028. The plant, powered by clean grid electricity, will be one of the world’s lowest-carbon intensity LNG facilities.
ADNOC Gas Inks 10-Year LNG Supply Deal with India’s GAIL
ADNOC Gas has secured a long-term agreement with GAIL India Limited to deliver up to 0.52 million metric tonnes per year of liquefied natural gas (LNG) beginning in 2026.
China to Receive Reduced Saudi Oil Supply in December as Demand Slows
Saudi Arabia's crude oil exports to China are projected to decline to 36.5 million barrels in December, down from 46 million barrels in October, amid reduced demand from the world’s largest oil importer.
Trump Prepares to Withdraw from Paris Climate Agreement, NYT Reports
U.S. President-elect Donald Trump's transition team prepares executive orders to withdraw from the Paris climate agreement, end the LNG export pause, and revoke California's pollution waiver, according to the New York Times.
NuVista Energy to Supply Trafigura with Natural Gas in 13-Year Deal
NuVista Energy has signed a 13-year natural gas offtake agreement with Trafigura, providing the Canadian producer exposure to international LNG market pricing through JKM indexing.
ADNOC L&S Signs $4.4 Billion Deal for 23 LNG, Ethane, and Ammonia Supertankers
ADNOC Logistics & Services signed contracts worth $4.4 billion to build 23 supertankers, primarily focused on LNG, with additional vessels for ethane and ammonia. These contracts with Chinese and Korean shipyards bolster ADNOC’s low-carbon energy shipping capacity.
Saudi Arabia May Cut December Oil Prices for Asia, Sources Say
Saudi Arabia, the world’s top oil exporter, may reduce December oil prices for Asian buyers, reflecting weaker demand and lower benchmark prices. This potential price cut could influence OPEC+ considerations to delay increasing oil production, according to sources.
Egypt and Eni Seek Moves to Support Gas Production
Egypt's president met with Eni CEO to discuss moves aimed at supporting gas production, after the African country was forced to turn to the liquefied natural gas (LNG) market to cover domestic demand.
South Sudan Aiming to Restart Pumping Oil Through Sudan
South Sudan will resume pumping crude oil for export through a port in neighboring Sudan within a few days, a South Sudanese government official said.
Qatar Faces U.S. and UAE Rivalry in LNG Sales to Japan, South Korea
Qatar is finding it hard to agree new deals to supply LNG to Japan and South Korea as rising competition from the U.S. and elsewhere with more flexible contract terms challenges Doha's decades-old dominance of the market.
Iran Works to Contain Oil Spill Near Kharg Island, Says IRNA
Iranian authorities are working to control an oil spill four miles (6.4 kilometers) off Iran's Kharg Island, the country's IRNA news agency reported on Wednesday.
TotalEnergies Expands LNG Bunkering Fleet with New Vessel Charter
TotalEnergies has signed a charter contract with Spanish shipowner Ibaizabal for a new liquefied natural gas (LNG) bunkering vessel, increasing the company’s global LNG bunkering capacity.
U.S. Broadens Sanctions on Iran’s Oil Sector, Targeting 'Ghost Fleet' of Illicit Tankers
The U.S. has expanded sanctions against Iran's petroleum and petrochemical sectors in response to a missile attack on Israel. The new measures target Iran's 'ghost fleet' of oil tankers involved in illicit oil shipments, aiming to cut off financial resources for Iran’s missile programs and terrorist activities.
Oman LNG Signs 4-Year LNG Supply Deal with Japan's Kansai Electric
Oman LNG signed a four-year agreement to supply liquefied natural gas to Japan's Kansai Electric Power.
OPEC+ Prepared to Offset Iranian Oil Loss, But Broader Disruptions Remain a Concern
OPEC has enough spare oil capacity to compensate for a full loss of Iranian supply if Israel knocks out that country's facilities, but the producer group would struggle if Iran retaliates by hitting installations of its Gulf neighbors.
Goldman Sachs Predicts Brent Price Surge Amid Escalating Iran Tensions
Goldman Sachs said on Friday that it expects its Brent price forecast to peak $10-$20 per barrel in 2025 due to potential disruptions in Iranian production.
Global News October 2024
Stay informed with the latest industry news and developments in the midstream sector. From pipeline projects to regulatory updates and company announcements, P&GJ's Global News column brings you the most important insights from around the world.
P&GJ’s Europe 500 Report of Top Pipelines
The following is a list of some of the longest transportation routes on the continent of Europe as of July 2024. This third such report will be broken down into two sections: gas and liquids (oil and products), which will be updated in each of our September issues going forward.
U.S. Sanctions Syrian, Iranian Entities for Shipping Oil to Syria and East Asia
The U.S. Department of Treasury has sanctioned more than a dozen entities and vessels over their involvement in the shipment of Iranian crude oil and liquid petroleum gas to Syria and East Asia on behalf of the Iran's Revolutionary Guards and Hezbollah.
EQT CEO Predicts U.S. Natural Gas Prices to Stay Below $3/MMBtu Amid LNG Demand Growth
The CEO of U.S. natural gas producer EQT Corp. on Wednesday said U.S. prices for the fuel will remain below $3 per million British thermal units in the short term.
Saudi Aramco Aims to Become Major LNG Player, Says Gas Chief
The world's largest oil producer, Saudi Aramco, wants to become a major liquefied natural gas player, the head of its natural gas business said on Tuesday.
Thailand’s PTT Signs 5-Year LNG Supply Deal with Oman LNG
Thailand's largest energy firm, state-controlled PTT PCL, has signed a five-year deal to buy liquefied natural gas (LNG) from Oman.
Saipem Secures $4 Billion Offshore Contract with QatarEnergy to Boost LNG Production
Italian energy engineering group Saipem SPMI.MI said on Sunday it had won an offshore contract worth $4 billion from QatarEnergy, one of the world's top suppliers of liquefied natural gas (LNG).
BlackRock Fund Acquires Stake in Saudi-Bahrain Pipeline from Bapco Energies
A BlackRock-managed fund has bought a minority stake in a pipeline linking Saudi Arabia and Bahrain from Bahrain state oil firm Bapco Energies, the two firms said on Wednesday, as the small Gulf state tries to extract value from its energy assets.
Libya Oil Exports Drop 81% as NOC Cancels Cargoes Amid Central Bank Crisis
Libyan oil exports fell around 81% last week, Kpler data showed, as the National Oil Corporation cancelled cargoes amid a crisis over control of Libya's central bank and oil revenue.
Energean's Profit Rises on Israel Output Boost, Despite Market Challenges
Gas producer Energean reported higher first-half profit on Wednesday, helped by a rise in production due to strong summer demand in Israel, which accounts for more than 70% of total output.
ADNOC Secures 15-Year LNG Supply Deal with Indian Oil
The Abu Dhabi National Oil Company has agreed a 15-year deal to supply Indian Oil with 1 million metric tons per annum of liquefied natural gas.
QatarEnergy Expands LNG Fleet with Six New Vessels from China State Shipbuilding
QatarEnergy has signed a deal with China State Shipbuilding Corporation to buy six additional ultra-large ships to carry liquefied natural gas, it said on Monday, raising such vessels it has on order to 128 as part of a fleet-expansion program.
Goldman Sachs Warns AI Could Weigh on Oil Prices, Reshaping Market Dynamics
Artificial intelligence could hurt oil prices over the next decade by boosting supply by potentially reducing costs via improved logistics and increasing the amount of profitably recoverable resources, Goldman Sachs said on Sept. 3.
Exports from Libya's Hariga Oil Port Stopped as Crude Supply Dries Up
The Libyan oil export port of Hariga has stopped operating due to insufficient crude supplies, two engineers at the terminal told Reuters on Saturday, as a standoff between rival political factions shuts most of the country's oilfields.
- Energy Transfer Subsidiary Selects KTJV for Lake Charles LNG Export Project
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- Malaysia’s Oil Exports to China Surge Amid Broader Import Decline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Marathon Oil to Lay Off Over 500 Texas Workers Ahead of ConocoPhillips Merger
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
