North America
U.S. Launches $850 Million Grant Program to Tackle Methane Emissions in Oil Sector
The U.S. government opened up on Friday competitive bidding that will close on Aug. 26 for $850 million in grants to help small oil and gas producers monitor and reduce methane from their operations,
Fulcrum LNG to Assist Guyana in Developing Natural Gas Resources
U.S. firm Fulcrum LNG was selected to help Guyana develop a plan to design, finance, construct and operate a natural gas processing facility in the South American country, President Irfaan Ali said on Thursday.
Piñon Midstream Secures EPA Approval for Carbon Capture at Dark Horse Facility
Piñon Midstream has received approval from the EPA for its monitoring, reporting, and verification plan for the permanent sequestration of carbon dioxide at its Dark Horse Treating Facility in Lea County, New Mexico.
U.S. Natural Gas Venting, Flaring Declined to 18-Year Low in 2023, EIA Reports
The yearly amount of natural gas vented or flared in the U.S. decreased to 0.5% of gross withdrawals in 2023, the Energy Information Administration (EIA) estimated on Thursday, based on preliminary state and federal data.
Carlyle Forms New Mediterranean Oil and Gas Firm in $945 Million Energean Deal
Carlyle will form a new Mediterranean-focused oil and gas company led by former BP CEO Tony Hayward after the private equity fund agreed to acquire Energean's assets in Egypt, Italy and Croatia for up to $945 million.
QatarEnergy, Exxon Move to Remove Contractor from Texas Gas Project Amid Bankruptcy
Joint venture partners QatarEnergy and ExxonMobil are urgently seeking court action to remove contractor Zachry Industrial from their $10-billion Golden Pass LNG project in Texas.
Mega-Deals Reshaping How Midstream Business Is Done
Explore how mega-deals are reshaping the midstream oil and gas industry, providing growth and stability amid regulatory challenges and limited organic expansion opportunities.
Projects June 2024
FERC reapproves GTN pipeline expansion; DeLa Express seeks FERC approval; Williams cancels New Jersey pipeline project; Venice extension project gets approval; Biden administration requests Enbridge review; Black Bear's Ozark project operational.
Global News June 2024
Latest industry developments from around the world!
Goldman Sachs: Permian Production, OPEC Capacity Likely to Cap Brent at $75-90/bbl
Goldman Sachs expects robust oil production growth in the Permian Basin, the largest U.S. oilfield, and high OPEC spare capacity to likely support the ceiling of their $75-90 per barrel Brent price forecast in the short run, the bank said in a research note on Tuesday.
Trans Mountain Revises Heavy Crude Standards on Pipeline After Quality Concerns
Canadian government-owned oil pipeline operator Trans Mountain last week revised standards for accepting crude oil on its recently expanded system after buyers raised concerns about the crude oil arriving on the line, a regulatory filing showed.
Phillips 66 Refining Margins Tighten on TMX Expansion Start-Up
U.S. refiner Phillips 66 said on Tuesday its margins have tightened after the expanded Trans Mountain pipeline project in Canada started up in May.
Geospatial Analytics: Predictions, Trends, and A.I. Applications for Pipeline Management
Geospatial analytics is revolutionizing pipeline management for oil and gas companies, enabling efficient monitoring of vast infrastructure. Utilizing A.I.-powered technologies, this approach detects potential leaks, encroachments, and chemical traces, ensuring early detection and minimizing environmental impact.
Biden Administration Offers $200 Million in Grants to Fix Aging Gas Pipelines
(P&GJ) — The U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration is now accepting applications for nearly $200 million in grants aimed at repairing and modernizing aging natural gas pipes.
Canada Oil and Gas Emissions Cap Likely to Cut Production, Report Says
Canada's proposed oil and gas emissions cap will prompt companies to cut production rather than invest in costly carbon capture and storage (CCS) technology, analysts say.
Berkshire Hathaway Increases Stake in Occidental Petroleum to Nearly 29%
Billionaire Warren Buffett's Berkshire Hathaway Inc. acquired another 2.95 million shares in Occidental Petroleum, a regulatory filing showed, bringing his stake in the U.S. oil producer's common stock to nearly 29%.
States Sue U.S. to Block $7 Billion Rule Requiring Oil Firms to Guarantee Well Dismantling Payments
Texas, Louisiana and Mississippi on Monday sued the U.S. government to block the Biden administration's proposed rule that would require the offshore oil and gas industry to provide nearly $7 billion in financial assurances to cover costs of dismantling old infrastructure.
Enbridge Faces Michigan AG's Attempt to Halt Line 5 Pipeline in State Court Decision
A U.S. appeals court on Monday handed Michigan's attorney general a jurisdictional victory in her bid to force Enbridge to stop operating the Line 5 oil pipeline underneath the Straits of Mackinac in the Great Lakes by allowing her to pursue her case in state rather than federal court.
Energy Transfer Submits HSR Act Filing for WTG Acquisition; Adjusts Purchase Price to $3.1 Billion
WTG owns and operates the largest private Permian Basin gas gathering and processing business with assets located in the core of the Midland Basin.
Colonial Pipeline Owners Explore Stake Sales at $10 Billion Valuation: Sources
Some of Colonial Pipeline's owners are exploring divesting their stakes, hoping they can fetch prices that would value the largest U.S. fuel transportation system in excess of $10 billion, according to people familiar with the matter.
Pipeline Customers Push for Lower Prices Amid Regulatory Challenges
Pipeline customers have stimulated a two-pronged political attack on interstate pipeline pricing directed at the Federal Energy Regulatory Commission (FERC) and Congress.
ONEOK Completes Acquisition of 450-Mile Texas-Louisiana NGL Pipeline System
ONEOK Inc. has completed its acquisition of a system of natural gas liquids pipelines from Easton Energy for approximately $280 million.
U.S. Ready to Reopen Oil Stockpile if Petrol Prices Surge, FT Reports
The Biden administration is ready to release more oil from the U.S. strategic stockpile to stop any jump in petrol prices this summer, the Financial Times reported on Monday.
Gulf Coast CCUS Draws New Entrants as Projects Advance
The carbon capture, utilization and storage (CCUS) industry on the U.S. Gulf Coast is evolving as projects slowly progress and new players move in. Their entry could help spur development of the industry, which is already advanced on the Gulf Coast, compared with most other parts of the world, except for the North Sea.
Mexican President: Billionaire Slim Interested in Pemex Natural Gas Project
Mexico's President Andres Manuel Lopez Obrador said on Friday that businessman Carlos Slim is interested in participating in the country's first deepwater natural gas project, working alongside state energy company Pemex.
New Fortress to Begin LNG Production at Mexico Plant by the End of June
New Fortress Energy said on Friday it expects to start production of LNG at its offshore Altamira-based plant in Mexico in the next ten days and would begin shipping the gas in July.
Phillips 66 to Sell 25% Stake in Rockies Pipeline for $1.28 Billion to Tallgrass Energy Unit
Phillips 66 said it would sell its 25% stake in the 1,714-mile Rockies Express Pipeline (REX) for about $1.28 billion to Tallgrass Energy.
API Sues in Federal Court to Block Biden's EV Emission Rules
The nation's largest oil trade group, which includes ExxonMobil and Chevron, filed a federal lawsuit on Thursday seeking to block the Biden administration's efforts to reduce planet-warming emissions from cars and light trucks and encourage electric vehicle manufacturing.
FTAI Infrastructure Partners with Aramco Trading to Boost Oil Supply to Texas Terminal
FTAI said the subsidiary, Jefferson Energy, would receive additional supply of crude oil at its terminal in Beaumont by incorporating bi-directional flow capability into its Southern Star Pipeline, which currently moves crude oil from the Main Terminal to the Motiva Port Neches Terminal.
OPEC Sees No Peak in Long-Term Oil Demand, Secretary General Says
OPEC does not see a peak in oil demand in its long-term forecast and expects demand to grow to 116 million barrels a day by 2045, and may be higher, the secretary general said on Thursday.
- 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
