Business & Markets

Exxon, Total in Talks over Mozambique LNG Deal

ExxonMobil and Total are in negotiations over their massive LNG projects in Mozambique, with each seeking to extract more gas from a shared field that straddles the two developments and cut costs, sources said.

China Hits 26% of Planned 2020 U.S. Energy Imports

China has accelerated imports of crude oil, propane and LNG from the United States since July, but total energy product purchases through October remain far short of targets set out in the Phase 1 trade deal.

Norway's DNV GL Suspends Nord Stream 2 Work over U.S. Sanctions Fear

Norway's risk management and quality assurance firm DNV GL said it has suspended work on the Nord Stream 2 gas pipeline project led by Russia's Gazprom for fear of being sanctioned by the United States.

Belarus Plans to Raise Pipeline Tariff on Russian Oil by 25%

Belarus has proposed to increase a tariff it charges Russia for oil transit to Europe by a quarter, raising the stakes in oil supply talks complicated by political upheaval in Minsk, three oil industry sources told Reuters on Thursday.

Limited Pipeline Capacity in North American Regions Raises Winter Fuel Concerns

The United States has enough power generation to meet demand this winter, but extreme weather could challenge reliability in California and New England by putting fuel supplies at risk

Consumers Energy Completes 90-Mile Saginaw Trail Pipeline

Consumers Energy has completed construction of its $610 million Saginaw Trail Pipeline project, which replaced aging natural gas pipelines and related infrastructure across three Michigan counties.

OPEC+ Still Leans Toward Extension Despite Rally

OPEC and allies including Russia are leaning towards delaying next year's planned increase in oil output to support the market during the second wave of COVID-19 and rising Libyan output, despite a rise in prices, sources said.

Oil Rallies Past 8-Month High on U.S. Crude Inventory Drop, Vaccine Hopes

Oil prices climbed to the highest in more than eight months on Wednesday, as data showing a surprise drop in weekly U.S. crude inventories extended a rally driven by hopes that a COVID-19 vaccine will boost fuel demand.

Canadian Oil Output Seen Expanding until 2039

Canadian oil production will expand for nearly two more decades, slowing the country's progress toward achieving Prime Minister Justin Trudeau's goal of net-zero emissions by 2050, the Canada Energy Regulator (CER) forecast.

Enbridge Sues Michigan Over Oil Pipeline Shutdown Order

Enbridge filed a legal challenge to Michigan Gov. Gretchen Whitmer's recent demand that the company shut down its Line 5 oil pipeline that crosses the waterway connecting Lake Huron and Lake Michigan.

Saudi Aramco: Domestic Supplies Unaffected by Missile Attack

Saudi Aramco said on Tuesday its domestic fuel supplies had not been affected by an attack the previous day by Yemen's Houthi group on a petroleum products distribution plant in Jeddah, with operations resuming three hours after the event.

Canada Regulators Support NOVA's Edson Pipeline Expansion

The Commission of the Canada Energy Regulator has recommended federal cabinet approval of NOVA Gas Transmission Ltd.'s Edson Mainline Expansion Project.

Eni's Brass River Crude Exports Halted after Pipeline Explosions

Eni declared force majeure on exports of Nigerian Brass River crude oil following pipeline explosions in Bayelsa state, a source with direct knowledge of the matter said.

Yemen Rebels Claim attack on Saudi Oil Facility in Jiddah

Yemen's Houthi rebels said they struck a Saudi oil facility in the port city of Jiddah on Monday with a new cruise missile, just hours after the kingdom finished hosting its virtual Group of 20 leaders summit.

Russia's Novatek Starts LNG Ship-to-Ship Operations in Murmansk

Russian gas producer Novatek has started ship-to-ship loadings of LNG near the northern port of Murmansk, following U.S. pressure to stop terminal deliveries in Norway.

Oil Prices Gain on COVID-19 Vaccine News

Oil prices rose 2% on Monday, extending last week's gains, as the latest report of encouraging coronavirus vaccine trials had traders anticipating a recovery in demand.

Williams Restructures Contracts with Bankrupt Chesapeake

Pipeline operator Williams Companies said on Monday it will take ownership of some of Chesapeake Energy Corp's assets in exchange for accepting lower gas gathering fees from the bankrupt shale producer.

EU Denies Gas Plants a Green Finance Tag

The European Commission on Friday proposed that power plants fueled by natural gas would not be not classed as a sustainable investment in Europe, although plants could possibly gain a green label by burning some hydrogen.

Enbridge Adds Solar Facilities to Power Pipeline Operations

Enbridge is adding solar energy facility to help power its natural gas pipeline compressor stations, citing a recent pledge to green its operations.

Oil Prices Rise for Third Straight Week on Vaccine Hopes

Oil prices edged higher on Friday for a third consecutive weekly rise, buoyed by successful COVID-19 vaccine trials, while renewed lockdowns in several countries to limit the spread of the coronavirus capped gains.

Russia's Payments to Belarus for Contaminated Oil Still Unresolved

Russia and Belarus have yet to resolve differences over compensation for contaminated oil supplies last year, with the issue linked to a broader dispute between the ex-Soviet republics, industry sources said.

Oil Prices Pull Back on Concerns about Virus Impact on Demand

Oil prices slipped on Thursday as hopes for a vaccine were overshadowed by a surge in new cases of the coronavirus around the world, which raised concerns about the outlook for crude demand.

Islamic State Claims Responsibility for Sinai Pipeline Blast

A blast struck the Al Arish-Al Qantara natural gas pipeline in Egypt's Sinai Peninsula on Thursday, and Islamic state later claimed responsibility without giving evidence.

Court Allows Construction to Continue on Mountain Valley Pipeline

The U.S. Fourth Circuit Court of Appeals rejected a motion to stay a permit for the $5.8-$6.0 billion Mountain Valley natural gas pipeline from West Virginia to Virginia.

Blast Strikes Natural Gas Pipeline in North Sinai

A blast struck the Al Arish-Al Qantara natural gas pipeline in Egypt's Sinai Peninsula on Thursday, three witnesses told Reuters.

Venture Global Delays Plaquemines LNG Export FID to 2021

Sempra Energy's Costa Azul liquefied natural gas plant in Mexico will be the only North American LNG export project to go forward this year now that Venture Global delayed its plan to start on its proposed Plaquemines project in Louisiana until 2021.

TC Energy: Keystone XL Pipeline Fits Biden Agenda

The creation of union jobs and support by Indigenous investors will help convince U.S. President-elect Joe Biden that the Keystone XL pipeline fits into his “Build Back Better” agenda, an executive with TC Energy said.

Explainer: What's Happening With the Keystone XL Project?

TC Energy Corp is continuing to advance its Keystone XL oil pipeline, the $9 billion project that would move oil from the province of Alberta to Nebraska. Here's an overview of the project status.

Canadian Indigenous Group to Invest in Keystone XL Pipeline

Pipeline operator TC Energy said on Tuesday Canadian indigenous group Natural Law Energy will invest up to C$1 billion ($763.77 million) in its long-delayed Keystone XL oil pipeline project.

New CO2 Tax Hikes Price of Natural Gas in Germany

Millions of German households will see their gas heating bills rise at the start of 2021 because of a new carbon dioxide tax, price comparison portal Verivox said on Tuesday, citing 7.1% average increases planned by 104 suppliers it surveyed.