North America
Valero Energy's Quarterly Profit Slips on Weak Fuel Prices
Valero Energy reported a fall in quarterly profit on Thursday, kicking off earnings for U.S. refiners on a feeble note, as a slowdown in fuel demand hurt margins.
White House Pauses Decision on Louisiana LNG Export Terminal
The Biden administration is delaying a decision on a Louisiana LNG export project that would be the United States' largest, but which has raised the ire of environmentalists, the New York Times reported on Wednesday.
EnCap Eyes $5 Billion Sale of Bakken Shale Producer Grayson Mill
Private equity firm EnCap Investments is exploring a sale of Grayson Mill Energy that could value the Bakken shale-focused oil and gas producer at around $5 billion, inclusive of debt, people familiar with the matter said on Thursday.
NextEra Energy Posts Fourth-Quarter Profit, Helped by Lower Gas Prices
The power company, which makes most of its electricity from natural gas, benefited from lower natural-gas prices, which fell about 14% in the quarter from the third quarter, on ample storage and a milder-than-expected winter.
Kinder Morgan Remains Bullish on Natural Gas Demand Growth
Kinder Morgan said on Wednesday it continues to have a bullish outlook for natural gas demand banking on higher demand from LNG export facilities and increased exports to Mexico.
EIA: U.S. Crude Stockpiles Slump, Gasoline Builds Amid Winter Storms
U.S. crude oil stockpiles slumped while gasoline inventories jumped last week after winter weather hit crude production and imports, refining, and demand for fuel, the Energy Information Administration said on Wednesday.
U.S. Oil Refiners Ask EPA to Limit Participation in Renewable Fuel Credit Market
U.S. oil refiners have asked President Joe Biden's administration to reform the renewable fuel credit program by restricting who can participate, claiming the current trading environment allows market manipulation and raises fuel costs.
Chevron's Duvernay Shale Sale Expected to Attract Mid-sized Canadian Shale Operators
As Chevron Corp. markets its Duvernay shale assets, the U.S. oil major is most likely to find a buyer among a handful of mid-sized Canadian firms that are boosting investment in a region that has yet to fulfil its potential, analysts said.
Oilfield Firm Baker Hughes Beats Profit Estimates on International Demand, LNG Bets
U.S. oilfield technology firm Baker Hughes beat Wall Street estimates for fourth-quarter profit on Tuesday, powered by strong demand for its services and equipment from LNG producers, as well as offshore and international markets.
Canada Regulators Face Activist Ire for Trans Mountain Variance Approval
Environmental activists say the CER's conditions around the materials Trans Mountain can use to build the smaller section of pipe are too lenient. However, there is little they can do at this stage to block the approval.
Energy Transfer Does Not Expect Shutdown of Dakota Access Oil Pipeline
Energy Transfer does not expect the U.S. Army Corps of Engineers to shut down the Dakota Access oil pipeline (DAPL) after a long-pending environmental review of a section that runs under a lake and is opposed by nearby Native American tribes.
Enterprise Products Partners to Receive Sea Port Oil Terminal License in Q1 2024
Enterprise Products Partners expects to receive an export license for its Sea Port Oil Terminal (SPOT) in the first quarter of 2024 versus by the end of 2023, as previously expected, a company executive said on Monday.
Sunoco to Acquire NuStar Energy in $7.3 Billion Deal for Midstream Expansion
The deal, which has been approved by both the boards, will give Sunoco access to NuStar's transportation and storage facilities, including a portfolio of about 9,500 miles of pipeline and 63 terminals.
Global Pipeline Construction Outlook 2024: New LNG Terminals Sound Beckon Call for More Pipelines
(P&GJ) — It comes as little surprise to those in midstream that during the past year we have continued to see LNG initiatives garner more attention than pipeline projects. However, terminal construction drives new pipeline construction.
What's New January 2024
Sherwin-Williams, PCE Instruments, NDT Global, McElroy and more!
Projects January 2024
Wolf Carbon withdraws pipeline application in Illinois; Canadian oil, gas producers plan to drill 8% more wells in 2024; TC Energy receives FERC approval for Virginia Reliability Project; and more!
Pipelines Unhappy with Clean Water Act Final Rule
The new Clean Water Act (CWA) final rule from the Environmental Protection Agency (EPA) potentially complicates efforts by pipeline builders (and other infrastructure sectors) to get construction approval from states and tribes.
CorEnergy Completes $175 Million Sale of MoGas, Omega Pipeline Systems to Spire
CorEnergy Infrastructure Trust Inc. has successfully closed the sale of its MoGas and Omega pipeline systems to Spire Midstream for $175 million.
U.S. Buys 3.2 Million Barrels of Oil for Strategic Petroleum Reserve
The United States bought 3.2 million barrels of oil for the Strategic Petroleum Reserve, as it continues to slowly replenish the stash after selling a record amount following Russia's invasion of Ukraine in 2022, a Department of Energy document showed on Friday.
U.S. Regulator Seeks More Data on Occidental-CrownRock Deal
The U.S. Federal Trade Commission (FTC) has asked for more information on Occidental Petroleum's $12 billion deal for Permian-based producer CrownRock, the firms said on Monday, making it the latest big oil merger to face increased scrutiny.
British Columbia Strengthens $26.7 Billion Power Plan, Faces Hurdles in Electrifying LNG Projects
British Columbia boosted its $26.7 billion plan to expand its grid over the next decade, but Canada's Pacific Coast province will still fall short of supplying the biggest LNG projects with hydropower needed to avoid generating high emissions.
Chevron Initiates Marketing of Natural Gas Assets in Canada's Duvernay, Anticipates Up to $900 Million in Sales
Chevron has said it plans to offer between $10 billion and $15 billion in assets by 2028 following deals with Hess Corp., PDC Energy and Noble Energy that will significantly expand its oil and gas output.
Solving Sulfide Stress Cracking in Sour Service
Nearly every oil country tubular goods (OCTG) manufacturer and producer is looking for solutions to sour service. It’s a perpetual issue that’s been hampering the oil and gas industry for as long as pipes have been underground.
Biden Administration Taking Heat from All Sides Over Louisiana LNG Project
The Federal Energy Regulatory Commission, a panel of three regulators, is expected to vote in weeks or months on approval of Venture Global's Calcasieu Pass 2, or CP2, liquefied natural gas terminal (CP2) project.
U.S. LNG Feedgas Cut by Arctic Freeze, Problems at Freeport LNG
The amount of natural gas flowing to U.S. LNG export plants dropped to a one-year low this week as an Arctic freeze caused some energy firms to divert fuel to the domestic market and Freeport LNG's facility in Texas experienced mechanical problems.
Blinken Urges Bosnian Lawmakers to Pass Gas Pipeline Law with Croatia
U.S. Secretary of State Antony Blinken has urged Bosnian Croat lawmakers to stop holding up legislation to build a natural gas pipeline with Croatia, seen as an alternative to Russian gas, local media reported on Thursday.
Enbridge, FortisBC to Study Hydrogen Delivery Through Canadian Gas Pipeline Infrastructure
The study will look at the percentage of hydrogen that can be safely transported through gas pipeline infrastructure, such as Enbridge's Westcoast natural gas transmission system, to reduce greenhouse gas emissions.
U.S. Crude Prices Firm at Gulf Coast as Takeaway Capacity Tightens
Record crude output from the top U.S. oilfield and busy crude pipelines to export hubs are boosting the price of the country's flagship crude at the Gulf Coast, analysts and traders said.
Terra Natural Capital Launches to Scale Carbon Projects and Boost Natural Assets Investment
Terra was founded with the mission of delivering flexible financing solutions for carbon removal and reduction projects and providing both public and private organizations with access to high-integrity carbon credits at scale.
Kinder Morgan's Q4 Profits Dip on Interest Costs and Natural Gas Challenges
Pipeline and terminal operator Kinder Morgan on Wednesday posted a lower-than-expected profit for the fourth quarter, as higher interest expenses and weakness in the natural gas pipeline segment hurt margins during the period.
- 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
