Natural Gas
Poland's Gaz-System Chooses Mitsui O.S.K. Lines for LNG Regasification Unit
Polish pipeline operator Gaz-System has chosen Japan's Mitsui O.S.K. Lines to supply a floating storage and regasification unit (FSRU), it said on Thursday.
Using Dry Gas Sealing Solutions to Drive Energy Efficiency
Natural gas serves as the transitional fuel between hydrocarbons and renewables. Centrifugal compressors are crucial for efficiently transporting large volumes of natural gas, utilized across various industries from oil and gas to petrochemicals and LNG.
Woodside Urged to Abandon $57 Billion Santos Merger by Major Shareholder
Woodside should walk away from its proposed $57 billion merger with Santos rather than pay a premium for its smaller rival, a large shareholder said on Thursday, a sign of the deep divide between both sides over fair value.
Silver Hill Energy Partners to Buy Liberty Resources' Bakken Assets
Silver Hill Energy Partners said on Wednesday it would acquire Liberty Resources II's interests in oil and gas properties and all of Liberty Midstream Solutions in North Dakota for an undisclosed amount.
U.S. LNG Exports Decline in January Due to Arctic Freeze, Plant Outages; Europe Dominates Despite Challenges
Cold weather and outages at second-largest exporter Freeport LNG cut U.S. LNG exports last month below the December record, LSEG ship tracking data showed.
Business News February 2024
Association news, personnel changes and mergers and acquisitions in February 2024!
Global News February 2024
Latest industry developments from around the world!
Methane Standards Hit Pipelines More Gently Than Proposed
The Environmental Protection Agency (EPA) issued final methane performance standards for natural gas controllers and compressors, which will require midstream and interstate pipelines to take a new look at their emission controls.
Marathon Petroleum Beats Profit Estimates, Plans Maintenance Slowdown in Q1 2024
Marathon Petroleum beat quarterly profit estimates on Tuesday, supported by strong refined product margins and high refinery utilization rates, but expects to cut back plant activity sharply at the start of this year for maintenance.
Phillips 66 Shuts Section of Oklahoma Panhandle Pipeline After Fire
Phillips 66 said it has shut a section of a natural gas pipeline it operates in the Oklahoma Panhandle after fire and rupture that occurred on Tuesday morning.
Oil Producer Hess Tops Profit Estimates on Higher Bakken, Guyana Output
U.S. oil and gas firm Hess beat Wall Street estimates for fourth-quarter profit on Wednesday, helped by higher production in its Bakken shale and Guyana operations.
MPLX Exceeds Q4 2023 Expectations with Surge in Pipeline Volumes
Midstream energy company MPLX on Tuesday reported higher fourth-quarter earnings, beating expectations, as its pipelines transported an increased volume of energy products.
ADNOC Gas Inks 10-Year LNG Supply Deal with India's GAIL
ADNOC Gas on Tuesday signed a 10-year agreement to supply 0.5 million metric tons per year of LNG to India's largest natural gas company GAIL.
Concerns Mount Among Activist Investors as Exxon Mobil's Lawsuit Sidesteps U.S. Regulator in Shareholder Dispute
Investors that use shareholder resolutions to pressure companies on environmental and social issues said they are worried that an Exxon Mobil lawsuit bypassing the U.S. securities regulator could undermine their influence.
Dana Gas Resumes Operations at Iraqi Kurdistan’s Khor Mor Gas Field
United Arab Emirates energy firm Dana Gas on Friday has resumed the production operations at Iraqi Kurdistan's Khor Mor gas field have been resumed, the company said in a statement.
Russia’s Planned Gas Pipeline to China Faces Construction Delay
Mongolian Prime Minister L. Oyun-Erdene said construction of Russia's planned new Power of Siberia-2 gas pipeline to China, which was expected to start this year, may be delayed.
INGAA Warns of 'Devastating Ripple Effects' Amid Biden’s Halting of LNG Export Terminal Approvals
In response to the decision, Amy Andryszak, president and CEO of INGAA, emphasized the potential consequences, stating, “The administration needs to appreciate that even a ‘pause’ on approvals can potentially cause devastating ripple effects on national security, energy investments, the supply chain, and American workers and consumers."
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.
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.
Germany's SEFE Eyes Global LNG Expansion After Securing $55 Billion Gas Deal in Norway
Fresh from clinching a $55 billion pipeline gas deal in Norway last month, Germany's SEFE is looking for more suppliers to offer liquefied natural gas (LNG) for its customers, its CEO told Reuters 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.
India Approves $1.02 Billion in Incentives for Coal Gasification
India's cabinet on Wednesday approved plans to provide incentives worth $1.02 billion for projects to convert coal into gas, the coal and mines minister said, as it seeks to reduce its reliance on imported fuel.
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.
Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
The London-listed oil and gas explorer said the start-up of Jubilee Southeast offshore Ghana drove production and boosted 2023 cash flow ahead of its expectations.
BP Sees Trinidad Deepwater Gas Project Getting Greenlight by 2025
BP expects the Calypso deepwater natural gas field off Trinidad and Tobago, which it shares with Woodside Energy, to get the greenlight when a final investment decision (FID) is made as early as the end of next year, a company executive said.
Petronas Seeks Fiscal Incentives to Develop Suriname Gas Project
Suriname should boost incentives for energy companies looking to develop oil and gas discoveries, said Zamri Baseri, head of Malaysia's Petronas in the South American country.
Ust-Luga Port in Russia Continues Crude, Fuel Exports Despite Novatek Terminal Closure
The Baltic Sea port of Ust-Luga was exporting crude oil and fuel on Tuesday apart from at Novatek's terminal which remained closed after being damaged by fire, according to data from LSEG and industry sources.
Trinidad in Talks with Europe to Supply Venezuelan LNG
Trinidad and Tobago has begun talks with some European countries on the supply of LNG produced from Venezuelan gas, Prime Minister Keith Rowley 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.
- Freeport LNG Plant Runs Near Zero Consumption for Fifth Day
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
- Mexico Seizes Air Liquide's Hydrogen Plant at Pemex Refinery
- Kinder Morgan Declares Force Majeure on West Texas Gas Pipeline After Fire
- Williams Delays Louisiana Pipeline Project Amid Dispute with Competitor Energy Transfer
- Pipeline Hydro Test Pressure Determination
- Venezuela Proposes Alternative Payment Plan as Weak Bids Surface in Citgo Auction
- Baker Hughes Wins Contract for Huge Aramco Gas Expansion Project
- Enbridge Picks Contractors for Great Lakes Tunnel Project, Securing Line 5 Pipeline Route
- Russia's Gazprom Sees Worst Loss in Decades as European Gas Sales Collapse
