Regions

Conoco Emerges as Surprise Bidder in Historic Citgo Share Auction

A U.S. court auction weighing the fate of Venezuela-owned oil refiner Citgo Petroleum has received bids using claims in lieu of cash, according to people familiar with the process and documents, part of a historic case to settle Venezuelan debts.

Enbridge Falls Short of Fourth-Quarter Profit Estimates Due to Lower Mainline Toll Revenues

Enbridge missed fourth-quarter profit estimates on Friday, hurt by lower tolls related to its Mainline crude pipeline system and a decrease in earnings from the company's gas segment.

Regulator Orders Trans Mountain Expansion Project to Address Deficiencies After B.C. Flooding

The Canada Energy Regulator (CER) has ordered the Trans Mountain pipeline expansion project to address environmental deficiencies and noncompliances found following flooding near Abbotsford, British Columbia, the regulator said on Thursday.

Shale Producer Devon Energy in Talks to Acquire Enerplus

U.S. oil and gas producer Devon Energy has approached Enerplus, a peer with a market value of $3 billion, with an acquisition offer, people familiar with the matter said on Thursday.

Sonatrach to Supply Germany with Pipeline Gas for the First Time

Germany will receive its first supplies of pipeline natural gas from Algeria under a medium-term contract signed between a subsidiary of trader VNG AG and state-owned oil and gas firm Sonatrach, the companies said on Thursday.

Case Study: Identification, Sizing Accuracy for UTCD In-Line Inspection

One of the most pressing concerns for operators of liquid buried pipelines is the management of stress corrosion cracking (SCC). Detecting and sizing SCC in liquid pipelines is usually accomplished through ultrasonic crack detection (UTCD) in-line inspection tools.

ConocoPhillips Beats Quarterly Profit Estimates with Higher Production

U.S. oil and gas producer ConocoPhillips beat Wall Street estimates for fourth-quarter profit on Thursday, helped by higher production in the Permian Basin and from a recent acquisition.

U.S. Official: LNG Export Review Should Consider Impact on Green Hydrogen Market

A review of U.S. LNG that the Energy Department will conduct during a pause on new permits should weigh the impact of gas exports on the development of the emerging green hydrogen market, an administration official told Reuters on Wednesday.

Biden Administration's LNG Pause Defended by Top Official in Senate Hearing

A top U.S. Department of Energy official on Thursday defended President Joe Biden's pause on approvals of LNG exports at a Senate hearing called by a fellow Democrat who said he will investigate the decision.

Arctic LNG 2's Third Line on Hold, TotalEnergies CEO Says

The third and the last train of the Arctic LNG 2 project in Russia has been put on hold but the second train is likely to be installed, the head of stakeholder TotalEnergies said.

GAIL India Responds to Red Sea Crisis, Buys Spot LNG and Redirects U.S. Supply to Europe

India's state-run GAIL (India) Ltd. is selling more U.S. LNG in European markets and making spot purchases to avert delays due to the Red Sea crisis, head of marketing Sanjay Kumar told a press conference.

Woodside, Santos End $52 Billion Merger Talks Over Valuation Dispute

Australia's Woodside Energy and Santos said on Wednesday they had ended talks to create a possible $52 billion global oil and gas giant, and Santos flagged it would look for other ways to bolster its value.

Petrobras Explores LNG Projects with Qatar, CEO Says

Brazil's state-run Petrobras is in talks with other national oil companies in China, India and the Middle East, including Kuwait Petroleum and Qatar Energy, to collaborate on energy projects, its chief executive said on Wednesday.

Saudi Aramco Explores Investment Opportunities with Indian Firms

State oil giant Saudi Aramco is in investment discussions with companies in India, a senior executive said on Wednesday.

Permian Deal Frenzy Dampens 2024 U.S. Oil Growth Prospects

Oil production in the prodigious Permian shale basin in Texas and New Mexico this year will see the slowest annual growth since 2021, according to market participants, as a slew of acquisitions reduces activity among private drillers.

California Resources Boosts Production with $2.1 Billion Deal for Aera Energy

U.S. oil and gas firm California Resources said on Wednesday it would buy Aera Energy in a deal valuing the California-based company at $2.1 billion, including debt, to gain more acreage in the most populous U.S. state.

Norway's Equinor Open to More Long-Term Gas Deals

Norway's Equinor would welcome more long-term supply agreements for its natural gas production, after announcing several such deals last year, the head of its marketing, midstream and processing division said on Wednesday.

Adani Total Says Dhamra LNG Terminal Operating at 55% Utilization Rate

Adani Total Pvt Ltd.'s Dhamra terminal has received 15 commercial LNG cargoes since commissioning in May 2023 and is operating at a utilization rate of 55%, CEO Satinder Pal Singh said on Tuesday.

Brent, U.S. Crude Futures Give Up Some Gains on Talk of Gaza Ceasefire

Brent and U.S. crude futures initially climbed over $1 a barrel on Tuesday after the U.S. Energy Department said crude oil production would grow less than forecast but then gave up some of the gains on talk of a possible lengthy cease-fire in the Gaza War.

Saudi Arabia Keeps Arab Light Crude Price to Asia Unchanged in Surprise Move

Top oil exporter Saudi Arabia unexpectedly kept March price of its flagship Arab Light crude to Asia unchanged at a more than two-year low, an Aramco statement showed on Tuesday, as the OPEC leader strives to maintain its market share.

Court Debates Fate of Biden's Approval for Willow Oil Project in Alaska

In Juneau, Alaska, a panel of appellate judges is deliberating on whether to uphold the Biden administration's green light for ConocoPhillips' Willow oil project within Alaska's federal petroleum reserve on the North Slope.

QatarEnergy and Petronet LNG Sign 20-Year LNG Deal

The deal will see Qatar supply 7.5 million metric tons per year of LNG to Petronet LNG on a delivered ex-ship basis (DES) from 2028 to 2048, according to a Petronet LNG statement.

Oil India in Talks to Resume Drilling Operations in Libya After 13-Year Hiatus

Oil India is talks with stakeholders to restart drilling in Libya, thirteen years after the company exited the country due to political instability, a top company official told Reuters.

Mitsubishi Sees Russia's Sakhalin LNG as Key Energy Source for Japan

Mitsubishi Corp. CEO Katsuya Nakanishi said on Tuesday that Russia's Sakhalin 2 LNG project remains a key source for Japan's energy supply, as Japanese companies maintain their Russian exposure.

Tellurian Explores Sale of Haynesville Upstream Business to Finance Driftwood LNG

Tellurian is exploring the sale of its Haynesville upstream business, the LNG firm said on Tuesday, as it looks to raise capital for its Driftwood LNG project.

U.S. Lawmakers Hold First of Two Hearings on Biden's LNG Pause

As Republican and some Democratic U.S. lawmakers slam President Joe Biden's pause on approvals of exports of LNG a House subcommittee held a hearing on the issue on Tuesday, the first of two in Congress this week.

Kazakhstan Doubles Amount of Oil Circumventing Russia

Kazakhstan almost doubled oil exports circumventing Russia's ports in 2023 to 3.73 million metric tons (74,600 barrels per day) from 1.91 million tons in 2022, according to industry sources and Reuters calculations.

Techint-SACDE Consortium Secures Contract for Northern Argentina Gas Pipeline Reversal

The joint venture Unión Transitoria de Empresas (UTE) has been awarded the contract to build a pipeline that will supply the provinces in northern Argentina with gas from Vaca Muerta, substituting gas imported from Bolivia, where production is already registering a major decline.

Venture Global and Grain LNG Ink 16-Year Deal for LNG Supply to UK

Under the agreement, Venture Global will have the ability to access 3 million tonnes per annum of LNG storage and regasification capacity at the Isle of Grain LNG receiving terminal for sixteen years beginning in 2029-equivalent of up to 5% of average U.K. gas demand.

Shell Commits to Developing Nigeria Gas Field to Supply Dangote Fertilizer Plant

Shell has made a final investment decision to build a gas supply facility in Nigeria to feed a fertilizer plant owned by Africa's richest man Aliko Dangote, the company said in a statement.