Regions

TotalEnergies to Pay $5 Million in U.S. FERC Natural Gas Manipulation Settlement

A unit of French energy company TotalEnergies agreed to pay $5 million to settle claims by U.S. energy regulators that it and some of its traders allegedly manipulated the natural gas market in 2009-2012.

Howard Energy Acquires 120-Mile Bidirectional Ethylene Pipeline from EPIC Midstream

Howard Energy Partners (HEP) has acquired EPIC Midstream Holdings’ 120-mile ethylene pipeline, strengthening its presence in the Gulf Coast region.

U.S. Oil Inventories at Cushing Storage Hub Drop to Lowest in a Decade

U.S. crude inventories at the country's flagship storage hub in Cushing, Oklahoma, fell to their lowest in over a decade amid strong refining activity and a year-end tax measure, data from the government's energy statistics arm showed on Wednesday.

Caspian Pipeline Consortium Lowers 2024 Oil Export Forecast Again

The Caspian Pipeline Consortium (CPC), which exports Kazakhstan's oil via the Black Sea, was seen pumping 64.4 million metric tons of oil in 2024 in a latest estimate, further downgrading its exporting prospects, according to a shareholder.

Nord Stream 2 AG Receives Extension for Debt Restructuring Deadline

A court in Switzerland has extended the deadline for Nord Stream 2 AG, a unit of Russia's Gazprom, to restructure its debts to May 9 from Jan. 10, according to a court ruling.

Philippines Encourages LNG Importers to Aggregate Purchases to Lower Prices

The Philippines is encouraging importers of liquefied natural gas (LNG) to voluntarily aggregate purchases of the super-chilled fuel in efforts to lower prices and improve market efficiencies, government officials said on Wednesday.

Expand Energy on Track for 7 Bcf/d Gas Output by 2025, CEO Says

Expand Energy, the biggest U.S. natural gas producer, remains on track to boost output to around 7 billion cubic feet per day (Bcf/d) in 2025, CEO Nick Dell’Osso said at the Goldman Sachs Energy, CleanTech & Utilities Conference on Tuesday.

U.S. Natural Gas Futures Surge 6% on Freezing Wells, Northeast Price Spike

U.S. natural gas futures jumped about 6% in another volatile day of trade on Wednesday on forecasts for more heating demand than previously expected and as freezing wells cut output.

Chevron Eyes $6-8 Billion Free Cash Flow Growth in 2024, CEO Says

Chevron is positioned to increase its free cash flow by $6 billion to $8 billion by next year, and reduce expenses by "a couple billion dollars," said Chevron CEO Michael Wirth on Wednesday.

Constellation Nears $30 Billion Deal for Natural Gas Company Calpine: Bloomberg

Constellation Energy is nearing an acquisition of Calpine Corp. that would value the company at about $30 billion including debt, Bloomberg News reported on Wednesday, citing people familiar with the matter.

EnCap Flatrock Midstream Nets $800 Million in Plains All American Transactions

EnCap Flatrock Midstream (EFM) has finalized agreements to sell Ironwood Midstream Energy Partners II and its Plains Series A Preferred Units to Plains All American for over $800 million in cash.

Shell Faces Shareholder Scrutiny Over LNG Strategy and Climate Goals

Shell's plans to increase sales of liquefied natural gas (LNG) have been called into question by a major group of shareholders that has filed a resolution asking whether the strategy is compatible with a goal to cut carbon emissions.

South Sudan Plans Crude Oil Restart Amid Regional Recovery Efforts

South Sudan aims to resume oil production at its Blocks 3 and 7 on Jan. 8 with an initial output target of 90,000 barrels per day, Petroleum Minister Puot Kang Chol said on Tuesday.

Trump Plans Immediate Reversal of Biden's Offshore Drilling Restrictions

U.S. President-elect Donald Trump said on Tuesday he will move quickly to revoke an offshore oil and gas drilling ban announced by outgoing Democratic President Joe Biden.

OMV Strikes Deal to Deliver Romanian Gas to Germany Amid Energy Shift

Austria's OMV has struck a deal to supply Germany's Uniper with gas from its Black Sea project from 2027, three people familiar with the matter told Reuters, as Europe seeks new ways to boost energy security after cutting ties with Russia.

Enbridge Should Rethink Old, Troubled Line 5 Pipeline, IEEFA Says

A new report from the Institute for Energy Economics and Financial Analysis (IEEFA) questions the financial and strategic viability of Enbridge Energy’s proposed tunnel project to replace an aging section of the Line 5 pipeline under the Straits of Mackinac.

Trump Vowed Swift LNG Approvals, but Advisers Urge Patience to Avoid Legal Pitfalls

Advisers to U.S. President-elect Donald Trump are urging him to take a patient approach to restarting approvals for liquefied natural gas export licenses, fearing rapid approvals will only get overturned in court, according to two sources familiar with the discussions.

Phillips 66 Acquires EPIC NGL for $2.2 Billion, Bolstering Permian-to-Gulf Infrastructure

The EPIC NGL business includes two fractionators near Corpus Christi with a capacity of 170,000 barrels per day (bpd), 350 miles of purity distribution pipelines, and an 885-mile NGL pipeline connecting the Delaware, Midland, and Eagle Ford basins to Gulf Coast facilities.

Biden Bans Offshore Drilling in Vast U.S. Waters Before Trump Term

U.S. President Joe Biden will ban new offshore oil and gas development along most U.S. coastlines, a decision President-elect Donald Trump, who has vowed to boost domestic energy production, may find difficult to reverse.

Asia’s Crude Imports Fall in 2024 Amid Weak China Demand

Asia's crude oil imports dropped in 2024, the first annual decline in three years, led by weak demand from heavyweight China and other major buyers, with only India managing sparse growth.

Nicor Gas Launches First Renewable Natural Gas Interconnection in Illinois

Nicor Gas has announced its first renewable natural gas (RNG) interconnection with Air Liquide's largest RNG facility globally. The facility, located in Rockford, Illinois, converts biogas from the nearby Winnebago Landfill into energy via the Nicor Gas delivery system.

Sudan Resumes Oil Exports to Port Sudan, Lifts Force Majeure on Pipeline

Sudan has lifted a nearly year-long force majeure on the transport of crude oil from its neighbor South Sudan to a port on the Red Sea after security conditions improved, according to a letter seen by Reuters on Monday.

Diversified Energy Expands Midstream Assets in Appalachia with $45 Million Acquisition

Diversified Energy Company PLC has announced a $45 million acquisition of natural gas properties and midstream facilities in Virginia, West Virginia, and Alabama. The assets were purchased from Summit Natural Resources and are expected to close during the first quarter of 2025.

U.S. Natural Gas Prices Surge 10% as Winter Storms Hit Output and Demand

U.S. natural gas futures soared about 10% to a one-week high in volatile trade on Monday as winter storms battered the eastern half of the country, causing output to decline as some oil and gas wells and pipes froze.

Central Europe Adjusts Gas Flows as Ukraine Transit Halts

Central European gas flows have adapted to the halt of Russian supplies through Ukraine on Jan. 1, as increased shipments to the region from Germany and Italy make up the shortfall, data from network operators showed on Monday.

Inpex Restores Typhoon-Damaged Gas Pipelines in Japan

Inpex Corp. has completed restoration work on its natural gas trunk pipeline network in Japan, addressing damage caused by Typhoon Hagibis in October 2019.

Brazil's Eneva Restores Normal Gas Flow to Porto de Sergipe I Power Plant

Brazilian power firm Eneva has resumed normal gas supplies to its Porto de Sergipe I thermoelectric plant after replacing part of a pipe that had affected gas flow for nearly three months.

Moldova Breakaway Region Faces Extended Blackouts After Gas Cutoff

The pro-Russian breakaway Moldovan region of Transdniestria, left without Russian gas supplies no longer transiting through neighboring Ukraine, faced longer periods of rolling power cuts on Saturday, local authorities said.

U.S. Winter Storms Threaten Power Outages, Natural Gas Supply Disruptions

Freezing weather and snow storms across the U.S. could cause massive power outages over the next week and boost natural gas demand to its highest levels of the winter, according to energy analysts and reliability coordinators.

Delek Logistics Closes $285 Million Gravity Water Acquisition

Delek Logistics Partners LP has completed its $285 million acquisition of Gravity Water Intermediate Holdings LLC, expanding its midstream capabilities in the Permian Basin.