North America
U.S. to Purchase Oil Through 2025 After Massive 2022 Drawdown
The U.S. is slowly replenishing the Strategic Petroleum Reserve, planning to buy back millions of barrels of oil for delivery in the first several months of next year, after the largest ever sale from the stockpile in 2022.
Harris Walks Fine Line on Energy, Keeping Voters and Industry Guessing
Is she the climate and anti-pollution warrior who was attorney general of California? Or the pragmatic Number Two in the Democratic Biden administration that oversaw record U.S. oil production and exports.
NextDecade to Appeal Court Ruling Overturning Rio Grande LNG Project Approval
U.S. liquefied natural gas developer NextDecade said it will appeal a court ruling that overturned federal approval for its $18 billion Rio Grande LNG project and warned loss of its permits could prevent access to its loans.
BP Tells Regulators Venture Global's LNG Plant Doesn't Need More Time to Start Production
Oil and gas producer BP Plc told federal regulators on Wednesday that it has reviewed confidential commissioning documents and does not believe Venture Global LNG needs more time to begin commercial production.
Edge Architecture Under Siege: Essential Cybersecurity Strategies for Oil and Gas Leaders
Join our expert panel on August 29, 2024, at 10 a.m. CDT to explore crucial strategies for enhancing cybersecurity in edge architectures. Learn how to prepare for and respond to cyberattacks in the oil and gas sector. Register now to secure your spot!
Maverick Natural Resources Explores $3 Billion Sale, Sources Say
The Houston-based exploration and production company, which is owned by energy-focused investment firm EIG, is working with investment bankers at Jefferies on the sale process, the sources said, requesting anonymity as the discussions are confidential.
Texas Oil Regulator Faces Scrutiny as "Zombie" Wells Reemerge
On a sprawling ranch in Pecos County in late July, oil well control specialist Hawk Dunlap used a backhoe to uncover an abandoned or so-called zombie well that had sprung back to life despite being plugged just over a year earlier, hissing gas and bubbling toxic water into the dry Texas dirt.
CPP Investments Acquires $843 Million Stake in Private Midstream Firm Tallgrass Energy
Based in Denver, Colorado, Tallgrass is a leading infrastructure company operating a network of more than 10,000 miles of pipeline assets across 14 states in the U.S.
Oil Investors Slash Positions to Record Low Amid Global Market Turmoil: Kemp
Investors cut their petroleum positions to the lowest level for at least a decade early last week, part of a broad-based retreat from risk amid rising concerns over a global economic slowdown.
Exxon Reports 59 Layoffs to Texas Workforce Commission After Pioneer Acquisition
Exxon Mobil issued a layoff notice to 59 employees as part of its workforce reshuffle following its $60 billion acquisition of Pioneer Natural Resources, according to a filing with the Texas Workforce Commission.
Alabama Town to Begin $2.8 Million Natural Gas Pipeline Project with Infrastructure Funds
Cordova, Alabama, will kick off a major natural gas pipeline replacement project with a groundbreaking ceremony on August 20.
U.S. Shale Boosts Output with Fewer Rigs, Defying Post-Merger Slowdown
Greater operating efficiencies in the top U.S. shale patch are squeezing out more oil without higher spending, according to the latest output numbers, which will boost global oil market supplies as OPEC also plans to unwind its output cuts later in the year.
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.
U.S. Gulf Coast to Host Major Clean Ammonia Production Project with New Investment
The $2.5 million investment aims to establish an industrial-scale hybrid blue and green ammonia facility in Texas. The plant is expected to produce 1.4 million metric tonnes of ultra-low carbon ammonia annually.
LaBella Associates Acquires Process Pipeline Services, Enhancing Natural Gas Capabilities
LaBella Associates announced that it has acquired Process Pipeline Services Inc. (PPS), a provider of engineering, design and consultation services focused on the natural gas industry.
Occidental Puts CrownRock Expansion on Hold, Targets Debt Cut
Occidental Petroleum said it will focus on cutting debt and catching up with promised production goals before an eagerly anticipated expansion of its cash distribution program.
U.S. to Buy 6 Million Barrels of Oil for SPR, Building on 5 Million Bought Last Month
The U.S. is seeking to buy another 6 million barrels of oil from energy companies to help replenish the Strategic Petroleum Reserve (SPR), the Department of Energy said on Monday.
Chevron Achieves Industry First with Ultra-High Pressure Oil Field in Gulf of Mexico
At its peak, the floating platform will pump up to 75,000 barrels of oil and 28 million cubic feet of natural gas a day. The field is about 140 miles (225 km) off the coast of Louisiana.
Mexico's New Government to Encourage Pemex Partnerships with Private Oil Firms, Sources Say
Mexico's incoming government will encourage state oil producer Pemex to seek equity partnerships with private oil companies, a model out of favor with the current president, in a bid to boost reserves amid towering debt, according to four sources familiar with the matter.
Citgo Posts $25 Million Q2 Loss Amid Unfavorable Market Conditions, Refinery Maintenance
Citgo Petroleum has reported a net loss of $25 million in the second quarter following unfavorable market conditions and refinery maintenance and upgrades, compared with income of $410 million in the quarter immediately prior.
Cheniere Untroubled by LNG Project Setbacks, Cites Strong Regulatory Strategy
Cheniere Energy's CEO, Jack Fusco, stated that the company is not concerned about recent U.S. court rulings that halted other LNG export projects. Fusco highlighted that Cheniere has no ongoing court cases affecting its current operations and is meticulous in adhering to regulatory processes.
Woodside's $1.2 Billion Bid for Tellurian Likely Unchallenged, Sources Say
Woodside Energy which agreed last month to buy Tellurian, the developer of a fully-permitted U.S. LNG project, for $1.2 billion including debt is unlikely to face a rival bid, people close the deal said.
Golden Pass LNG Project Delay to Impact Global Gas Markets During Intense Growth Period
The six-month delay to the Golden Pass LNG project in Texas will remove a significant amount of new supply during a period of intense growth, shifting the surge from 2026 to 2027. This will impact both global and North American gas markets, according to Wood Mackenzie.
EnLink Midstream Approves Major Capacity Increase at Louisiana Gas Storage Facility
The Stage 1 expansion, which leverages existing assets at JISH, is expected to cost approximately $85 million and will increase the facility’s working gas storage from 2 Bcf to 10 Bcf.
Cheniere's South Texas LNG Project 62% Complete, Ahead of Schedule
The company also added that its Corpus Christi Stage 3 project, an export facility in South Texas, was progressing ahead of schedule, and was 62.4% complete as of June 30.
Energy Transfer Raises 2024 Profit Forecast on Higher Volumes, Acquisitions
Energy Transfer has raised its full year profit forecast after the U.S. pipeline and storage company posted higher second-quarter profit on the back of strong crude and natural gas liquids (NGL) transportation volumes.
NOG to Acquire Additional Uinta Basin Assets for $17.5 Million
Northern Oil and Gas Inc. announced it has exercised its option to acquire a 20% stake in the Altamont Assets in the Uinta Basin. The purchase price is $17.5 million in cash, subject to customary closing adjustments.
U.S. Natural Gas Producers Plan Further Output Cuts as Prices Plummet
Major U.S. natural gas producers are preparing to further curtail production in the second half of 2024, after prices sank nearly 40% over the past two months.
U.S. Court Overturns FERC Approval for NextDecade’s $18 Billion Rio Grande LNG Project
A U.S. court overturned FERC's approval for NextDecade's Rio Grande LNG project due to a missing supplemental environmental impact statement. NextDecade expressed disappointment and disagreed with the ruling.
Bernhard Capital Acquires New Mexico Gas Company from Emera for $1.252 Billion
Emera acquired NMGC as part of its purchase of the TECO group of companies in 2016. NMGC is the largest natural gas utility in New Mexico, serving over 545,000 customers and managing more than 12,000 miles of pipelines.
- 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
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- 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
