Business & Markets

Croatia Secures $566 Million to Construct Four New Gas Pipelines

(P&GJ) — Croatia's energy infrastructure is set for a significant upgrade with the signing of a contract worth $566.4 million to construct four gas pipelines by mid-2026. The pipelines will facilitate gas transportation from the Krk LNG terminal to Slovenia, Hungary, and other Southeast European countries.

Black & Veatch Receives Green Light for Canada's First FLNG Project

Black & Veatch, in collaboration with Samsung Heavy Industries, has received full authorization from Cedar LNG LP partners to commence construction of Cedar LNG's floating liquefaction facility in Kitimat, British Columbia.

Japanese Consortium Invests $370 Million in I Squared Capital's India Gas Platform

A Japanese consortium will invest $370 million to acquire a minority stake in a platform that invests in companies developing city gas distribution networks in India, global infrastructure investor I Squared Capital said on Monday.

U.S. Natural Gas Exports Hit Record 21 Bcf/d in 2023, Led by LNG and Pipelines

(P&GJ) — According to the U.S. Energy Information Administration (EIA), the United States marked a record volume of natural gas exports in 2023, buoyed by robust LNG shipments and steady pipeline deliveries to neighboring countries.

EQT and Equinor Strike Mega Deal: Swapping Onshore Assets in Pennsylvania

EQT will sell 40% interest in its non-operated natural gas assets in northeast Pennsylvania to Equinor USA in exchange for Equinor's onshore asset in the Appalachian basin and $500 million in cash, the companies said on Monday.

CNOOC Stockpiles Russian Oil at New Reserve Base in China

State-run China National Offshore Oil Co., one of the country's top importers of Russian oil, has in recent months been pumping shipments of ESPO blend from Russia's Far East into a newly launched reserve base, according to traders and tanker trackers.

Oil Prices Dip as Market Reacts to Iran's Attack on Israel

Oil prices fell at Asia's open on Monday, as market participants dialed back risk premiums following Iran's attack on Israel late on Saturday, which the Israeli government said caused limited damage.

Cenovus Energy to Invest $1.5 Billion in Ohio Refineries Over Next 5 Years

Cenovus Energy said it plans to invest $1.5 billion in its Ohio refineries over the coming five years, including Lima and Oregon.

Niger Signs $400 Million Crude Oil Deal with Chinese Firm CNPC

Niger has signed a memorandum of understanding with Chinese state-owned oil giant China National Petroleum Corp. worth $400 million linked to the sale of crude oil from its Agadem oilfield, Niger state television RTN reported late on Friday.

Motiva Restarts Two CDUs at Port Arthur Refinery After Power Outage

Motiva Enterprises restarted two crude distillation units (CDUs) overnight at its 626,000 barrel-per-day (bpd) Port Arthur, Texas refinery, the nation's largest, after a power outage on Wednesday, people familiar with plant operations said on Thursday.

U.S. Natural Gas Prices Surge to 5-Week High on Freeport LNG Feedgas Increase, Output Decline

U.S. natural gas futures edged up about 1% to a five-week high on Wednesday on an increase in feedgas to the Freeport LNG export plant and a drop in output as pipeline maintenance trapped gas in Texas and producers continued to reduce drilling activities after prices collapsed to 3-1/2-year lows earlier this year.

North Dakota's Bakken Rig Count Drops as Consolidation Sweeps Oil Patch

Operators in North Dakota's Bakken oilfield reduced their rig count to 36 in April, down from 40 in March, marking the lowest number this year as a wave of consolidation has swept through the oil patch, state regulators said on Friday.

Kansas City Fed Survey: Oil, Gas Activity Declines in U.S. Midwest, Rockies During Q1 2024

Oil and gas energy activity in Oklahoma, Colorado and the northern part of New Mexico fell in the first quarter of 2024, the Federal Reserve Bank of Kansas City, Missouri, said on Friday in its quarterly survey of energy activity.

U.S. Finalizes Big Reforms to Federal Oil and Gas Drilling

President Joe Biden's administration on Friday finalized a range of reforms designed to boost returns and address environmental harms from oil and gas drilling on public lands.

IEA Trims Oil Demand Forecast on Weakness in Wealthier Countries

The International Energy Agency (IEA) trimmed its forecast for 2024 oil demand growth on Friday, citing lower than expected consumption in OECD countries and a slump in factory activity.

Oklahoma Attorney General Sues Enable and Symmetry Over Winter Storm Uri Natural Gas Price Hikes

(P&GJ) — Oklahoma Attorney General Gentner Drummond has filed litigation against Enable Midstream Partners (Enable) entities and Symmetry Energy Solutions LLC, accusing them of artificially inflating natural gas prices in the aftermath of Winter Storm Uri.

ADNOC Explored Potential Takeover of BP, Sources Say

The United Arab Emirates' state-owned oil company recently considered buying Britain's BP but the deliberations did not progress beyond preliminary discussions, people familiar with the matter told Reuters.

Trafigura Consortium in Talks to Buy Exxon Oil Refinery in France

Rhone Energies, a consortium of commodity trader Trafigura and Entara LLC, is in exclusive negotiations with Exxon Mobil's ESSO SAF to acquire the Fos-sur-Mer refinery in southern France and the Toulouse and Villette de Vienne terminals.

Global Partners Acquires Four Liquid Energy Terminals from Gulf Oil for $212 Million

Global Partners LP has announced the successful closing of its acquisition of four liquid energy terminals from Gulf Oil Limited Partnership for $212.3 million.

EU Parliament Approves Legal Option to Block Russian LNG Imports

The European Parliament voted on Thursday to pass rules allowing European governments to ban Russian LNG imports, by preventing Russian firms from booking gas infrastructure capacity.

Germany's Mukran LNG Terminal Receives Operating Permit

Germany's Baltic Sea import terminal for LNG at Mukran on Ruegen island has received its operating permit under federal and state laws, private operating company Deutsche ReGas said on Wednesday.

Mexican Pemex Crude Output Reduced After Platform Fire, Source Says

Mexican Pemex crude oil production is down some 20,000 barrels per day following a fire at an offshore platform on Saturday that left several injured and at least one dead, a source at the state energy company said.

Biden Administration Says Enbridge Pipeline Shutdown Order Should Be Reconsidered

The Biden administration has urged a U.S. appeals court to tell a lower court to rethink its order that would require Canadian operator Enbridge to drain portions of an oil pipeline that runs through Native American tribal land in Wisconsin, according to a court filing made public on Wednesday.

Former Shell CEO: Shell at Disadvantage to U.S.-Listed Rivals

Shell's former CEO, Ben van Beurden, said on Tuesday that European oil and gas companies will find it increasingly difficult to compete with U.S.-listed rivals.

GRTgaz Invests $43.4 Million in First French-German Cross-Border Hydrogen Pipeline

French gas grid operator GRTgaz will invest 40 million euros ($43.4 million) in a 110-million-euro planned hydrogen pipeline due to link France and Germany, its Chief Executive Sandrine Meunier said on Wednesday.

Occidental to Resume GoM Production Following Temporary Shutdown Due to Oil Spill

Occidental Petroleum said on Wednesday production is expected to commence in the coming days in the eastern Gulf of Mexico (GoM) after some operations were shut for about five months.

DeLa Express’ 690-Mile Permian-to-Louisiana Gas Pipeline Seeks FERC Approval, Targets 2028 Launch

(P&GJ) — DeLa Express LLC, an affiliate of Moss Lake Partners, has formally requested FERC approval to initiate the Pre-Filing Review Process for the proposed DeLa Express Project—a 690-mile natural gas pipeline aiming to transport gas from production sites in the Delaware Basin, Texas, to markets around Lake Charles, Louisiana.

Newfoundland and Labrador Approves World Energy's Hydrogen Project

Canada's Newfoundland and Labrador province approved renewable energy firm World Energy's hydrogen plant on Tuesday, after more than 80 low-carbon hydrogen production projects have been announced in the country until March.

U.S. Gulf Coast Heavy Crude Oil Prices Firm as Supplies Tighten

Prices for heavier crude oil along the U.S. Gulf Coast have climbed in recent weeks, trading at a rare near-par with lighter oil, a sign of supply tightness that could add to rising gasoline prices.

U.S. Coast Guard Clears Louisiana Waters After Main Pass Oil Gathering Pipeline Integrity Test

The Unified Command completed a line integrity test on the Main Pass Oil Gathering (MPOG) company's pipeline system near Plaquemines Parish, southeast of New Orleans, the U.S. Coast Guard said on Monday.