North America
Report: Global Upstream Sector Eyes $150 Billion in Deals for Rest of 2024
The global upstream industry could see dealmaking worth another $150 billion throughout the remainder of the year, with focus shifting to shale plays in U.S. other than the Permian Basin, analysts said.
Reliance Makes First Canadian Crude Purchase from Trans Mountain Pipeline, Sources Say
Reliance Industries has bought 2 million barrels of Canadian crude from Shell for July delivery, marking the Indian refiner's first oil purchase from Canada's new Trans Mountain pipeline, trade sources said.
Louisiana Secures $52.7 Million for Pipeline Construction and Natural Gas Infrastructure
The funds, part of the Infrastructure Investment and Jobs Act, will support pipeline construction projects across various districts, replacing aging infrastructure and acquiring methane leak detection equipment.
Trans Mountain Pipeline Expansion Set to Commence Partial Operation: What Lies Ahead?
Canada's Trans Mountain pipeline expansion (TMX) is set to enter partial operation on May 1, years behind schedule and at more than four times the original cost - but with the potential to affect oil flows even outside North America.
Tivoli Midstream Acquires Strategic Texas Gulf Coast Terminal Assets
Tivoli Midstream LLC has announced the closing of an acquisition of strategic terminal and infrastructure assets located in the Gulf Coast of Texas in Brazoria County (the Chocolate Bayou Assets) from affiliates of Ascend Performance Materials LLC.
U.S. LNG Export Flows Surge to Three-Week High as Texas Freeport Boosts Intake
The amount of natural gas flowing to the seven U.S. LNG export plants was on track to rise by about 5% to a three-week high on Monday as Freeport LNG in Texas started to pull in more feedgas, data from financial firm LSEG showed.
Shell Earns $1 Billion a Year from U.S. Crude Trading, Court Filing Shows
Financial details of Shell's vast oil and gas trading business are some of the company's closest-held secrets. Documents in a lawsuit filed by a former employee, however, revealed its U.S. crude trading regularly earns around $1 billion every year.
Kinder Morgan Declares Force Majeure on West Texas Gas Pipeline After Fire
Pipeline operator Kinder Morgan said on Friday a fire that erupted on a West Texas natural gas pipeline it operates was extinguished after burning for most of the day.
Cenovus Subsidiary Husky Oil Operations Fined $1.83 Million for 2018 Canada Oil Spill
The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) had laid three charges against Husky Oil Operations Ltd. for the spill — the largest in the province's history — in October 2021.
OPEC Secretary General: 'End of Oil Not in Sight', Urges Focus on Emissions Reduction
The end of oil is not in sight, OPEC's top official said, as the pace of energy demand growth means that alternatives cannot replace it at the needed scale, and the focus should be on cutting emissions not oil use.
Pipeline Projects Seen as Unlikely to Involve Western-Based Companies
(P&GJ) – Inside China, there are numerous large-scale oil and gas pipeline projects that are being built, are currently in the planning stages or have been proposed. Some of these have huge potential significance, and the situation has certainly caught the attention of Western-based companies, which hope to supply equipment, technology or services to one or more of the projects.
Trans Mountain Expansion Requires Six More Leave-to-Open Permits, Says Regulator
The Canada Energy Regulator has six leave-to-open applications left to consider for the 590,000 barrel-per-day Trans Mountain pipeline expansion project, a CER spokesperson said on Friday.
Natural Gas Price Plunge Hits Big Oil Earnings Hard
U.S. and European oil companies reported weaker first quarter results on Friday due to a sharp drop in natural gas prices compared with a year ago.
Valero Beats Profit Expectations Amidst Strong Demand and Supply Constraints
Refiner Valero Energy beat first-quarter profit estimates on Thursday, benefiting from sustained demand supplies remained tight due to disruptions in Russia and maintenance work at U.S. refineries.
Top Tellurian Executives Stand to Earn Millions if Driftwood LNG Project Proceeds, Proxy Filing Reveals
Top executives of U.S. liquefied natural gas developer Tellurian Inc. could earn tens of millions of dollars if its proposed Driftwood LNG plant gets a green light, or if company is sold, a proxy filing released on Thursday showed.
Repsol Expanding Renewable Portfolio in U.S., Eyes More Deals
Spain's Repsol is working on a deal to sell a minority stake in a renewable portfolio in the United States as it aims to expand its footprint in a country it sees as a key market.
Hess Profit Soars on Increased Guyana Output, Positive Sign for Exxon
Hess Corp. on Thursday reported first-quarter earnings well above analysts' forecasts, driven by a 28% increase in Guyana oil output, a sign Exxon Mobil's results out Friday could also top forecasts.
TotalEnergies, Vanguard Renewables Partner to Expand U.S. Renewable Natural Gas Production
TotalEnergies and Vanguard Renewables have formed a joint venture to develop, construct, and operate Farm Powered RNG projects in the United States.
Mountain Valley Pipeline Requests In-Service Approval as Completion Nears
(P&GJ) — The Mountain Valley Pipeline is on the verge of completion, with the company seeking federal approval to commence operations. Although some final touches are pending, the company has submitted a request to FERC to expedite the process and issue an order by May 23.
Projects April 2024
U.S. regulators approve Mexico Pacific’s Saguaro Connector pipeline; EU approves $4.9 billion German state funds for hydrogen projects; Tallgrass, Bridger begin open season for Pony Express expansion; and more!
Global News April 2024
Latest industry developments from around the world!
DOE, FERC Take Different Positions on LNG
Environmentalists hailed the announcement by the Biden administration at the end of January — which halted the further approval of LNG exports — calling it a big victory in their fight against climate change and the natural gas industry’s alleged contribution to greenhouse gas emissions.
Pipeline Industry Concerned About Methane Fee Proposal
Natural Gas industry groups are asking Congress to cancel the methane emissions fee, which goes into effect in March 2025, based on emissions in 2024.
Trans Mountain Oil Shippers Raise Concerns About Risk of Delay to Full Service
Some shippers on Canada's Trans Mountain expansion project are raising concerns that the long-delayed oil pipeline will not be fully in service by its projected start date of May 1, according to a letter to the Canada Energy Regulator on Tuesday.
U.S. Shale Oil Sector Sees Revival Through Advanced Technology Adoption, Financial Obstacles Remain
Technology advances are making it possible for U.S. shale oil and gas companies to reverse years of productivity declines, but the related requirement to frontload costs by drilling many more wells is deterring some companies from doing so.
Russian LNG Exports Could Stall Over Next Four Years Amid Sanctions Pressure
Russia's LNG exports could stagnate in the next four years under the two less-rosy of three Economy Ministry scenarios - a sign that Western sanctions might be cramping Moscow's energy plans.
Halliburton Beats Profit Estimates, Expects International Strength to Continue
Oilfield services company Halliburton said on Tuesday it expects growth in its international business this year, but North American revenue will likely remain flat due to weak demand for drilling.
Tanker Departs Freeport LNG in Texas After 12-Day Hiatus
The first tanker in 12 days set sail from Freeport LNG's Texas export terminal on Tuesday, signaling the resumption of gas processing after an outage this month.
EQT Cuts Sales Volume Forecast, Extends Output Curbs as Natural Gas Prices Stay Low
EQT Corp. on Tuesday cut its forecast for full-year sales volume and extended production curtailments through May, as the largest U.S. natural gas producer looks to tackle persistently low prices for the commodity.
A Northern Light: Bullish Talk as Major Projects Now in Home Stretch
(P&GJ) – Kevin Neveu, a seasoned Canadian oil and natural gas senior executive, remains optimistic about the energy markets in the north despite global uncertainties in 2024. His positivity stems from the imminent completion of two major transmission pipeline projects in western Canada – Coastal GasLink gas pipeline and Trans Mountain oil pipeline – expected before year-end.
- 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
