Business & Markets

U.S. Tightens Waiver for Iraq Gas Imports from Iran

The United States has extended a sanctions waiver that enables Iraq to continue importing gas from Iran but this time granting a significantly shorter waiver period, Iraqi officials and the U.S. State Department said Thursday.

Max Midstream Acquires Seahawk Pipeline and Terminal with Plans to Expand

Max Midstream acquired the Seahawk Pipeline and Terminal at the Port of Calhoun in Texas with ambitious plans for a new pipeline to deliver Eagle Ford and Permian crude to an expanded port.

Ingleside Pipeline Begins Shipping to Moda's Ingleside Energy Center

Harvest Midstream announced the successful commissioning of two connections between Harvest’s Ingleside Pipeline and Moda Midstream.

Pipeline Rupture at India Gas Plant Sparks Fire, Halts Supply

A fire at an Oil and Natural Gas Corp plant caused by a pipeline rupture has cut gas supplies to customers including power and fertilizer companies, said a person familiar with the matter at gas marketing firm GAIL (India) Ltd.

Energy Execs Think U.S. Oil Production Has Peaked - Fed Survey

Nearly two-thirds of U.S. energy company executives polled by the Federal Reserve Bank of Dallas believe U.S. crude oil production has peaked, according to a survey released on Wednesday.

UAE, Israel Discuss Pipelines, Infrastructure for Gas Exports to Europe

The energy ministers of the United Arab Emirates and Israel discussed possible cooperation and investment opportunities, including natural gas exports to Europe, in a video call on Wednesday, an Israeli statement said.

Mountain Valley Seeks U.S. Approval to Resume Pipeline Construction

Mountain Valley Pipeline asked federal regulators for permission to resume construction on the $5.4-$5.7 billion pipeline from West Virginia to Virginia by Sept. 25.

U.S. Crude Oil Exports Continue Monthly Decline Since February Record High

U.S. crude oil exports reached a record high in February 2020 and have since fallen in each month, based on data through June, but still outpaced 2019 volumes through midyear.

U.S. Charges Former Manager of European Oil Firm over Graft in Ecuador

The U.S. Justice Department has charged a former manager of a European oil trading firm with paying bribes of $870,000 to help win a contract from Ecuador's state-run oil firm.

Austrian Utility OMV Sells Gas Pipeline Unit to Rival Verbund

Austrian utility OMV said on Wednesday it will sell a majority stake in its gas pipeline subsidiary to rival Verbund, a deal that will help OMV reduce debt and finance its acquisition of a leading plastics maker.

Top Shipping Insurance Group Will Not Cover Ships Linked to Nord Stream 2

The world's largest group of shipping insurers will not insure vessels involved in the Russian-led Nord Stream 2 and TurkStream gas pipeline projects because of the threat of U.S. sanctions.

Port Arthur Pipeline Announces Binding Open Season for Additional Capacity on Texas Connector Project

A component of Sempra LNG has launched an open season to solicit interest for capacity on a proposed pipeline to connect its proposed Port Arthur LNG facility to connecting pipelines and transport hubs.

MPLX Announces Binding Open Season, Expansion of SLC Pipeline System

Marathon Petroleum's midstream division has launched a binding open season for a proposed expansion of its SLC Pipeline System.

Venezuela's PDVSA to Sell Crude to Iran — Source

According to sources, Venezuela state-owned oil firm PDVSA is preparing to sell a cargo of crude oil to Iran, under threat of U.S. sanctions.

East Mediterranean States Formally Establish Egypt-Based Gas Forum

Six Mediterranean countries signed a charter on Tuesday to formally establish a group that seeks to boost natural gas exports from the region.

Dakota Access Flows Safe Through 2020 — Court Schedule

The Dakota Access pipeline will be able to continue flows until late December 2020 at the earliest, according to a federal court schedule released last week.

Global LNG Demand to Rise for Next Few Decades, COVID Temporary Blip — Industry

Industry executives believe the global demand for LNG will continue to rise in the next several decades due to growing economies in Asia, with the coronavirus pandemic being a temporary setback.

Pandemic to Trim China's 2020 Gas Demand Growth — Report

Natural gas consumption in China is expected to grow at the slowest rate in five years according to a new report released by Beijing.

Lower Canada-U.S. Crude Flows Draws Down on Cushing Glut

Weakened crude oil flows from Canada to Cushing, Oklahoma have helped drawdown on a surplus of fuel at a major industry storage hub over the past two weeks, according to industry traders.

Sempra Says 6 Weeks Until Cameron LNG Plant in Full Service

Sempra Energy said it expects its Cameron LNG plant in Louisiana to be back in full service in six weeks after Hurricane Laura caused major power outages in the area.

PowerChina Eyes Rail Project to Transport Oil and Gas From Argentina's Vaca Muerta

Chinese energy firm PowerChina is in talks to finance a rail project to transport oil and gas from Argentina's Vaca Muerta shale play to the port city of Bahia Blanca,

U.S. Gas Futures Fall to 6-Week Low on Big Storage Build

U.S. natural gas futures fell nearly 10% to a 6-week low on Thursday as utilities injected more LNG than expected into storage.

Petrobras on Track to Expand Rio LNG Import Capacity

Brazilian state-owned oil energy firm Petrobras said the company is on track to expand import capacity at its Rio LNG facility by 50%,.

EQT Bids for Chevron U.S. Shale, Pipeline Assets in Appalachia — Sources

According to sources, EQT Corp, the largest LNG producer in the U.S. by volume, has placed a bid on Chevron's natural gas assets in Appalachia, including pipelines.

Cameron LNG Moves Closer to Exiting Outage

Industry analysts believe Cameron LNG's Louisiana export plant is close to returning to service after Hurrican Laura devastated the area causing power outages throughout the area.

Russian Ship Sails for Nord Stream 2 Supply Base in Germany

Recent tracking data showed a Russian ship heading towards the German base of Nord Stream 2 pipeline project as the Kremlin seeks to push forward with the project.

Nearly $14 Billion Ready to Invest in Post-COVID Economic Recovery — Report

A new report from the Consumer Energy Alliance details nearly $14 billion worth of economic activity is being threatened by delays, obstructions and cancellations of pipeline infrastructure projects.

Colombia's Ecopetrol Says Illegal Siphoning of Oil Pipelines Rose in 2020

Oil / News

Columbia's state-owned Ecopetrol says it is losing an average of 2,500 barrels of oil per day from thieves illegally siphoning fuel out of the company's pipelines.

Fossil Fuel Demand to Take Historic Knock Amid COVID-19 Scars — BP

BP is expected fossil fuel consumption to shrink for the first time in history as the pandemic has destroyed global energy demand and climate policies boost the development of renewable energy.

OPEC Cuts Oil Demand Forecasts

The OPEC group is predicted a continued slump in oil demand due to the difficulties facing many developing countries, particularly India, in containing and recovering from the coronavirus pandemic.