North America
SCF Partners Acquires Flowchem, Val-Tex, and Sealweld, Leaders in Midstream Solutions
SCF Partners Inc. has acquired the Pipeline and Industrial Materials business from Entegris Inc., a leading supplier of advanced materials and process solutions for the semiconductor and other high-technology industries.
U.S. Considers Selling Northeast Gasoline Reserve in 2024 as Part of Draft Bill
Once the Northeast Gasoline Supply Reserve is closed, the secretary of energy cannot establish any new regional petroleum product reserve unless funding is explicitly requested in advance of an annual budget.
EQT to Curtail Natural Gas Production Through March Amid Low Prices
EQT will curtail nearly 1 billion cubic feet per day of natural gas production through March, the top U.S. natural gas producer said on Monday, as companies respond to persistently low prices of the commodity.
Valero Joins Summit's Carbon Capture Project, Extending Pipeline to 57 Ethanol Plants
Valero Energy is joining Iowa-based Summit Carbon Solutions' proposed carbon capture and storage project, which involves a pipeline spanning more than 2,000 miles across Iowa, North Dakota, South Dakota, Nebraska, and Minnesota.
Tellurian CEO Octavio Simoes' Term Not Extended, Company Eyes Asset Sale
LNG developer Tellurian said on Monday it would not renew or extend the employment term of CEO Octavio Simoes beyond June 5, and aims to sell its upstream business, sending its shares up as much as 3% before the bell.
TC Energy to Sell 295-Mile Portland Natural Gas Transmission System for $1.14 Billion
TC Energy said on Monday it has agreed to sell its Portland Natural Gas Transmission System to BlackRock and Morgan Stanley Infrastructure Partners for $1.14 billion.
Projects March 2024
FERC approves MVP’s Southgate gas pipeline extension; Regulator clears Trans Mountain, completion back on; Santos’ subsea pipeline clears construction hurdle; and more!
Chevron Indefinitely Closes Two U.S. Midwest Biodiesel Plants as Profits Slip
Chevron has indefinitely idled two biodiesel production facilities in the U.S. Midwest, the company confirmed on Friday, citing poor market conditions.
MEG Energy Confirms Trans Mountain Pipeline Expansion to Begin Line Fill in April
Oil producer MEG Energy said on Friday that line fill on Canada's long-delayed Trans Mountain oil pipeline expansion would start from April.
Low U.S. Natural Gas Prices Pose Challenges for Tellurian Asset Sale Plans
Low U.S. natural gas prices will hurt Tellurian Inc's ability to sell Louisiana gas producing properties in order to pay off enough debt to salvage its LNG export project, analysts said.
EPA Excludes Existing Natural Gas Plants from Proposed Carbon Rule
The U.S. Environmental Protection Agency on Thursday said it will exclude existing natural gas power plants from its proposed carbon regulations that it plans to finalize in April, narrowing the scope of the initial proposal that would have required stringent controls on those facilities.
Helix Energy and Talos Energy Strike Deal for Gulf of Mexico Decommissioning
Helix Energy Solutions Group Inc. has announced a five-year joint framework agreement with Talos Energy Inc. in which Talos has agreed to provide Helix the first right of refusal regarding specific annual work scopes for Talos’s decommissioning requirements in the U.S. Gulf of Mexico.
Global News March 2024
Latest industry developments from around the world!
Biden Nominates Two Democrats, One Republican to FERC; INGAA Applauds Nominations
President Joe Biden on Thursday nominated two Democrats and one Republican to the Federal Energy Regulatory Commission (FERC), an independent panel that rules on energy transmission and liquefied natural gas projects.
Trans Mountain Successfully Removes Pipe from Final Expansion Section
Trans Mountain Corp., the Canadian government-owned oil pipeline company, said on Wednesday it successfully removed a pipe from the final section of an expansion project that will nearly triple the flow of crude from Alberta to the Pacific Coast.
Devon Energy Reports Lower Profit, Anticipates Production Impact from Winter Storm
U.S. shale producer Devon Energy reported a fall in fourth-quarter profit on Tuesday, hurt by lower oil and gas prices and forecast a 2% impact in first-quarter production due to severe winter weather.
BP Urges U.S. Regulators to Deny Venture Global's Permit Extension Request
BP Plc on Tuesday urged U.S. regulators to refuse Venture Global LNG's request for an extension of time to build its Calcasieu Pass export plant.
Trans Mountain Pipeline Expects Q2 Launch, 10% Cost Increase
Trans Mountain Corp., the Canadian government-owned oil pipeline company, continues to target a second-quarter in-service date for its expansion and expects the project's cost to rise 10%, according to a filing.
Oil and Gas Upstream M&A Deal Value Hits Highest Q1 Levels Since 2017
An ongoing consolidation in the U.S. shale industry has driven up global M&A deal value in the oil and gas exploration sector to its highest first-quarter level in seven years, industry experts said.
U.S. Takes Lead as Top Supplier to Europe for Crude, Diesel and LNG
The United States has taken the top spot as Europe's supplier of crude oil, diesel, and liquefied natural gas (LNG) in recent months, capitalizing on reduced imports from east of Suez caused by shipping disruptions in the Red Sea.
Canadian Oil and Gas Producers Bump Up Spending, Industry Group Says
Canadian oil and natural gas producers will spend an estimated $30.07 billion on capital projects this year, up slightly from $28.89 billion last year, the Canadian Association of Petroleum Producers (CAPP) said on Tuesday.
Qatar's LNG Expansion Plans Set to Squeeze Out U.S., Rivals
Qatar's planned expansion of LNG production could see it control nearly 25% share of the global market by 2030 and squeeze out rival projects including in the United States where President Biden paused new export approvals, market experts said.
Pipeline Firm ONEOK Posts Higher Fourth-Quarter Profit on Strong Volumes
ONEOK, which has about 50,000-mile long network of pipelines, said its Rocky Mountain region natural gas liquids (NGL) raw feed throughput volumes rose by 20%, compared to last year.
Venture Global LNG Refuses to Provide Confidential Documents Without Regulatory Order
Venture Global LNG on Monday told U.S. regulators it will not provide energy firms Repsol SA and Galp Energia with confidential documents on a Louisiana export terminal's operations unless ordered to do so.
U.S. Gas Glut Sparks Ultra Bearish Sentiment Among Hedge Funds
Portfolio investors have become extremely bearish about the outlook for U.S. gas prices, even though prices have already fallen to their lowest level in real terms since futures began trading in 1990.
Marathon Oil Beats Profit Estimates on Higher Production
Marathon reported a rise in its oil and gas output to 404,000 barrels of oil equivalent per day (boepd) from 333,000 boepd in the previous year.
DTE Energy Seeks Developers for New Renewable Projects
The energy company, which operates a natural gas company in Michigan, is seeking proposals for renewable energy projects totaling about 1,075 megawatts (MW) to advance its decarbonization efforts.
Exxon, EnLink Midstream to Expand CCS Pipeline Transportation Along Gulf Coast
ExxonMobil and EnLink Midstream are exploring opportunities for EnLink to support ExxonMobil's carbon capture and sequestration (CCS) efforts beyond the southeast Louisiana Mississippi River Corridor into several additional Gulf Coast areas.
U.S. Regulators Set April Deadline for Decision on Venture Global LNG Permit Extension
U.S. energy regulators on Friday said they would decide quickly on liquefied natural gas developer Venture Global LNG's request for a one-year extension to its construction permit for its Calcasieu Pass LNG plant in Louisiana.
TotalEnergies Texas Refinery Operating at Minimal Rates Amid Upsets
TotalEnergies' 238,000-barrel-per-day refinery in Port Arthur, Texas, is operating at minimal production as it contends with multiple upsets, sources said on Wednesday.
- Keystone Oil Pipeline Resumes Operations After Temporary Shutdown
- 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
- Enbridge to Invest $500 Million in Pipeline Assets, Including Expansion of 850-Mile Gray Oak Pipeline
