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Saipem Wins $850 Million Offshore Contract for Ndungu Field Project in Angola

Under the contract, Saipem will undertake the engineering, fabrication, transportation, and installation of approximately 37 miles of rigid pipelines and subsea facilities at a depth of around 1,100 meters.

Russia Remains China's Top Oil Supplier for 12th Consecutive Month in April

Russia was China's top oil supplier in April for a 12th month, with volumes rising 30% from a year earlier, official data showed, as refiners continued to cash in discounted shipments, while supplies from Saudi Arabia fell a quarter on higher prices.

Libya Commences Operation of North Hamada Oilfield Pipeline

Libya has begun operating the new pipeline from its North Hamada oilfield with initial transfer capacity expected at 2,000 barrels per day, the National Oil Corporation said on Sunday.

UAE's ADNOC Acquires Stake in NextDecade's Rio Grande LNG Project

ADNOC has acquired an 11.7% stake in NextDecade's Rio Grande LNG export facility in Texas and entered a supply agreement, marking the UAE energy giant's first large investment in the United States.

Spotlight on Marcellus: Prolific Gas Play Keeps Rolling as Caution Persists

At the end of the first quarter of 2024, with natural gas prices depressed, the prolific Marcellus Shale gas play rolled along, albeit at a slower pace than usual with some producers cutting back production in March with a wait-and-see attitude toward prices.

U.S. Purchases 3.3 Million Barrels of Oil for Strategic Petroleum Reserve

The U.S. awarded contracts for the purchase of 3.3 million barrels of oil to help replenish the Strategic Petroleum Reserve (SPR) after a massive sale from the stockpile in 2022, the Department of Energy said on Friday.

Industry Leaders Partner to Repurpose Natural Gas Pipelines for Hydrogen Transmission

DORIS, ROSEN, and SPIECAPAG have jointly announced the establishment of the Pipeline Transition Alliance, a collaboration aimed at repurposing natural gas pipelines for hydrogen transmission.

TC Energy to Appeal Delaware Court's $200 Million Liability Ruling in Columbia Pipeline Acquisition Lawsuit

TC Energy said it strongly disagrees with the final decision issued on May 15 by the Delaware Chancery Court, which allocated liability for previously determined damages in an ongoing class-action lawsuit related to its 2016 acquisition of Columbia Pipeline Group Inc.

FERC Seeks Emission Data Updates for Venture Global LNG's Calcasieu Pass 2 Project

U.S regulators asked LNG exporter Venture Global LNG to update its emissions analysis for its proposed Calcasieu Pass 2 LNG export project in Louisiana, according to a letter sent on Wednesday.

Waste Management Explores $3 Billion Sale of Renewable Natural Gas Unit, Sources Say

The Houston-based firm is exploring a sale of its renewable natural gas business that could be worth about $3 billion, according to people familiar with the matter.

Proxy Adviser Urges Hess Shareholders to Accept Chevron Offer

Hess shareholders should vote in favor of Chevron's $53 billion all-stock offer at the oil company's May 28 special meeting, proxy adviser Glass Lewis said on Thursday.

Putin Suggests Potential for Oil Pipeline Alongside Planned Gas Link to China

Russia could deliver oil as well as gas to China along a planned route via Mongolia, President Vladimir Putin said on Friday. The project has taken on added urgency for Russia as it bids to ramp up gas shipments to China to make up for the collapse of its exports to Europe because of the war in Ukraine.

Saudi Aramco Signs MOUs with U.S. Firms for Lower-Carbon Energy Solutions

Saudi Aramco signed three memorandums of understanding (MOU) with U.S. companies Aeroseal, Spiritus and Rondo, the state-owned oil giant said on Friday.

Pembina Pipeline Expects Investment Decision on Cedar LNG Project in June

Pembina Pipeline Corp. said on Thursday progress on its proposed $4 billion Cedar project remains on track and a final investment decision is expected in June on what would be one of Canada's first liquefied natural gas export terminals.

Crescent Energy Acquires SilverBow for $2.1 Billion, Creating Second Largest Eagle Ford Operator

Oil and gas producer Crescent Energy will acquire rival SilverBow Resources in a $2.1 billion deal, creating the second-largest operator in the Eagle Ford basin in Texas.

Global News May 2024

Latest industry developments from around the world!

Editor’s Notebook: M&A Appears Here to Stay

It appears likely that the wave of midstream merger-and-acquisition activity of the past few years hasn’t reached its peak yet. In fact, to hear some insiders tell it, a full-on tsunami may not be far away.

CoolCo Secures Long-Term Charter Deal with GAIL for New LNG Carrier

Cool Company Ltd. has entered into a 14-year charter deal with India’s GAIL for one of the company’s two newbuild LNG carriers currently under construction.

IEA Faces Overhaul Under Second Trump Term, Aimed at Boosting Fossil Fuels

Donald Trump would likely push to replace the head of the International Energy Agency if he wins the U.S. presidential election to shift the energy watchdog's focus back to maximizing fossil fuel output instead of fighting climate change, according to people familiar with the matter.

Japan's JERA Plans $32 Billion Investment in LNG, Renewables, and New Fuels Over Next Decade

Japan's top power utility JERA said on Thursday it plans to invest $32.4 billion over the coming decade into renewable energy and new fuels such as hydrogen and ammonia, as well as LNG.

Colombia's Trasandino Pipeline to Remain Offline Until December 2024, Ecopetrol CEO Says

Colombia's Trasandino pipeline is forecast to remain offline until December, the chief executive of Colombia's majority state-owned energy company Ecopetrol said on Wednesday.

Chevron Prepares for North Sea Exit After More Than 55 Years

Chevron said it is set to launch the sale of its remaining U.K. North Sea oil and gas assets, in a move that would mark the U.S. energy giant's exit from the ageing basin after more than 55 years.

PetroChina Official Forecasts Record China LNG Imports in 2024

China's liquefied natural gas imports could hit record levels in 2024, a PetroChina official forecast on Wednesday.

Exxon, Pertamina to Advance Carbon Capture Efforts with Appraisal Drilling in Indonesia

Pertamina and Exxon plan to conduct appraisal drilling for a carbon capture and storage (CCS) hub in Indonesia, with the companies signing an initial storage deal with South Korea's KNOC on Wednesday.

Republican Lawmakers Press Regulators to Expedite LNG Project Approvals

Two influential U.S. Republican lawmakers have urged the head of the federal energy regulator to process applications for liquefied natural gas, or LNG, projects, saying any delays could force allies and partners to turn to countries like Qatar and Iran for the fuel.

Freeport LNG Plant in Texas Resumes Full Operations, Ships Queue for Loading

LNG tankers began loading at Freeport LNG in Texas this week as full operations resumed at the liquefied natural gas export plant after repairs and maintenance, data from financial firm LSEG showed on Wednesday.

QatarEnergy CEO: Qatar to Sign More Long-Term LNG Contracts This Year

Qatar has not had difficulty securing long-term liquefied natural gas contracts and will sign more this year, QatarEnergy CEO and State Minister for Energy Saad al-Kaabi said at an economic forum on Wednesday.

Williams Confident Louisiana Gas Pipeline Project Won't Be Halted by Rival Energy Transfer's Bid

The two companies have been in dispute over Williams' Louisiana Energy Gateway (LEG) Project, under construction in Texas and Louisiana, after Energy Transfer pushed back on the line for crossing its own systems.

TC Energy Ordered by Canada's Energy Regulator to Further Reduce Pressure on Gas Pipeline

The Canada Energy Regulator has issued an order to TC Energy's NOVA Gas Transmission Ltd. to further reduce the operating pressure for the Grande Prairie Mainline gas pipeline near Edson, Alberta.

Eletrobras Partners with GEP for Green Hydrogen Production in Brazil

Brazil's Eletrobras, Latin America's largest utility, has signed a memorandum of understanding with Green Energy Park (GEP) to study opportunities for green hydrogen production, the companies said on Tuesday.