Regions

Black Lion Makes $8 Billion Cash Offer for Citgo’s U.S. Parent Company

Black Lion Citgo Group has submitted an $8 billion all-cash bid for PDV Holding, the parent of U.S. refiner Citgo Petroleum, in a Delaware court-organized auction to settle Venezuela’s outstanding debts.

Crude Processing Resumes at Venezuela’s Cardon Refinery Post-Blackout

Venezuela's PDVSA has begun restarting units at its 310,000-bpd Cardon refinery following a recent power blackout, sources told Reuters. Two distillation units are back online, processing around 100,000 bpd of crude—about one-third of the facility’s capacity.

Trump Says China Can Buy Iran Oil, But Urges U.S. Crude Instead

President Donald Trump said China can continue buying oil from Iran following the recent Israel-Iran ceasefire but urged Beijing to purchase more U.S. crude instead. The White House clarified that U.S. sanctions remain in place, though analysts say enforcement appears lax.

Russia to Launch First Domestically Built Ice-Class LNG Tanker This Year

Russia is set to deploy its first domestically built ice-class LNG tanker in the second half of 2025, according to Interfax. The vessel, Alexey Kosygin, was constructed at the Zvezda shipyard to support Novatek's Arctic LNG 2 project amid international tanker shortages caused by sanctions.

Energy Transfer, Chevron Ink Expanded LNG Deal at Lake Charles Project

The 20-year agreement increases Chevron’s total contracted volume to 3 mtpa and marks continued commercial progress following the lifting of the U.S. LNG permit moratorium.

North Dakota Drilling, Fracking Hold Steady Despite Oil Price Swings

North Dakota’s drilling and fracking activity remained steady in June, with 13 frack crews and 32 rigs operating, despite recent fluctuations in global oil prices, state regulators said. The resilience is attributed to the presence of larger operators less reactive to market volatility.

Serbia Plans New Gas Pipelines to Boost Balkan Supply Diversification

Serbia is advancing plans to build new gas pipelines linking to Romania and North Macedonia to strengthen Balkan energy security and reduce dependency on Russian supply.

Enbridge, Energy Transfer Back New Pipeline to Move Canadian Oil South

Enbridge and Energy Transfer are evaluating a new pipeline project in Illinois to move more Canadian crude to the U.S. Gulf Coast.

Middle East Gas Pipeline Surge Led by ADNOC, Leviathan, Iran

The Middle East is set to see a surge in natural gas pipeline construction through 2028, with major projects from ADNOC in the UAE, Israel’s Leviathan field, Iran’s 748-mile pipeline, and Saudi and Iraqi investments. Crude and gas infrastructure expansions reflect the region’s strategic energy push.

Are Russia and China Really Going Green?

Editor-in-Chief Michael Reed examines reports of a growing Russia-China energy alliance, including plans for hydrogen production, renewable power development, and the long-delayed Power of Siberia-2 pipeline.

EPIC Crude Gains Edge as Corpus Christi Channel Expansion Wraps

EPIC Crude expects strategic gains from the completed Corpus Christi Channel Improvement Project, boosting access for VLCCs and crude oil exports from the Permian, Eagle Ford, and Midland basins.

Cheniere Energy Approves Corpus Christi LNG Expansion Project

Cheniere Energy has approved the final investment decision for its Corpus Christi LNG expansion, directing Bechtel to begin construction on Midscale Trains 8 and 9. The move is part of Cheniere’s broader plan to boost LNG capacity to 90 mtpa by the early 2030s.

Thailand’s PTT Signs 20-Year LNG Deal with Alaska’s Glenfarne

Thailand’s PTT has signed a 20-year agreement to purchase 2 million metric tons per year of LNG from Glenfarne’s $44 billion Alaska LNG project. The deal secures half of the project's third-party capacity and supports Thailand’s growing energy demand and U.S. LNG exports.

Alberta Ends Gas Flaring Cap After Exceeding Limit by 36% in 2024

Alberta energy producers exceeded the province’s annual gas flaring limit by 36% in 2024, marking a second consecutive year of overages. Days later, the province quietly eliminated the cap altogether, raising concerns about rising emissions and regulatory oversight.

UK Hydrogen Pipeline Network Gets Green Light for Next Phase

The East Coast Hydrogen project, a major initiative to repurpose and build pipelines for low-carbon hydrogen across northern England, has secured $130 million in funding from Ofgem. The funds will support engineering, planning, and consultation work to advance the UK’s hydrogen infrastructure and decarbonization goals.

Teapots Pull Back: Iranian Oil Stocks Build as Discounts Deepen in China

Chinese demand for Iranian crude is weakening as independent "teapot" refineries scale back purchases amid rising global oil prices, prompting sellers to deepen discounts and pushing Iranian oil stocks to their highest levels since 2023.

Centuri Secures Major Midwest Gas Utility Contract in $575 Million Deal

Centuri has announced $575 million in U.S. contract awards, anchored by a long-term gas utility deal in the Midwest covering distribution, transmission, and storage services.

U.S. Refining Capacity Grows, But Looming Closures Threaten 2026 Output

U.S. refining capacity grew to 18.4 million barrels per day in 2024, with Motiva’s Port Arthur facility overtaking Marathon’s Galveston Bay refinery as the nation’s largest. While the trend shows increased output, looming shutdowns could reverse gains seen this year, the EIA said.

USGS: 29 Billion Barrels of Oil, 392 Tcf Gas Lurk Under U.S. Public Lands

A new U.S. Geological Survey report reveals an estimated 29.4 billion barrels of oil and 391.6 trillion cubic feet of natural gas beneath federally managed public lands—enough to meet the nation’s energy needs for years.

LNG Canada Begins First LNG Production in British Columbia

Shell-led LNG Canada has begun producing liquefied natural gas at its Kitimat, B.C., facility, marking the first major Canadian LNG project to reach this milestone. The plant aims to ship its first cargo by mid-year, offering a faster Pacific route to Asian markets.

Gas Flows Jump as Cheniere’s Sabine Pass LNG Wraps Up Louisiana Maintenance

Pipeline work on Cheniere’s 4.5 Bcf/d Sabine Pass terminal finished June 20, and feed-gas deliveries are already rebounding to 4.2 Bcf/d, LSEG data show. The uptick suggests the three-week maintenance slowdown is ending, lifting U.S. LNG plant intake to a three-week high near 15 Bcf/d nationwide.

Enbridge Plans 86-Mile Pipeline Expansion, Bringing 850 Workers to Northern B.C.

Enbridge's Sunrise Expansion project aims to boost capacity along the Westcoast natural gas pipeline, potentially bringing 850 workers to the Mackenzie region in British Columbia.

Freeport LNG Seeks 40-Month Extension for Texas Expansion Project

Freeport LNG has asked FERC for a 40-month extension to complete its Train 4 project in Texas, citing delays from the 2022 explosion and emphasizing the need for more time to secure financing and restart construction.

Underground Refinery Busted in Mexico With Half a Million Liters of Crude

Mexican authorities discovered a clandestine mini-refinery in Veracruz and seized 500,000 liters of suspected stolen crude, part of a sweeping effort to curb pipeline theft and illegal fuel operations tied to organized crime.

U.S. Natural Gas Rises 10% on Heat Wave, Supply Concerns

U.S. natural gas futures slipped on June 20, but headed for its best week in more than a month, steered by forecasts for hotter weather that should boost the amount of gas power generators burn to keep air conditioners humming.

JERA, Woodside Sign Seasonal LNG Deal for Winter Supply

Japan's biggest power generator, JERA, and Australia's Woodside Energy have signed a deal for Woodside to supply JERA with liquefied natural gas only during the winter months, the companies said on June 20.

Russia Sends First Yamal LNG Cargo to China via Arctic Route

Russia's Yamal LNG plant, operated by Novatek, has dispatched a first cargo of liquefied natural gas this season via the Northern Sea Route to China, Kommersant daily reported on June 20, citing Kpler data.

Israel Restarts Gas Exports to Jordan, Egypt Supply Remains Halted

Israel has resumed limited natural gas exports after a temporary shutdown due to regional conflict, with most flows going to Jordan and minimal volumes reaching Egypt, which remains largely without supply.

Woodside Signs 15-Year LNG Supply Deal with Malaysia’s Petronas

Australia’s Woodside Energy will supply 1 million tonnes of LNG annually to Malaysia’s Petronas under a 15-year agreement beginning in 2028, supporting growing gas demand in the Asia-Pacific region.

Commonwealth LNG Wins FERC Approval for Louisiana Export Project

Commonwealth LNG has received final approval from FERC for its 9.5 mtpa export terminal on the Calcasieu Ship Channel in Louisiana, targeting a 2029 startup. The project has secured long-term deals with Glencore, JERA, and Petronas.

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