Business & Markets
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.
Italy's Snam Initiates Market Test for Hydrogen Demand, Seeks Interest in Carbon Capture Projects
Snam is officially launching a market test for hydrogen demand in Italy and a collection of expressions of interest for carbon dioxide (CO2) transport and storage, the gas grid operator said on Monday.
Guest Perspective: Aramco’s Best of Both Worlds
Saudi Aramco’s energy strategy should teach The West a lesson: invest in hydrocarbons now. Not only is oil and gas crucial for near- and medium-term energy security and affordability, but there is also a huge amount of money to be made that can be put toward the transition.
U.S. Says Allies 'Reassured' LNG Pause Does Not Affect Current Exports
U.S. allies concerned about steady supplies of LNG are reassured when they understand President Joe Biden's pause on LNG export approvals does not affect currently permitted shipments, a U.S. State Department official said on Monday.
Germany Unveils $17 Billion Subsidy Plan for Hydrogen-Ready Gas Power Plants
Germany's government has agreed plans to subsidize gas power plants that can switch to hydrogen, the economy ministry said on Monday, with a price tag of $17 billion in subsidies as part of efforts to supplement intermittent renewable energy and speed up the transition to low carbon generation.
Indonesia and Eni Partner on Decarbonization Initiatives
Indonesia's Energy and Mineral Resources Ministry said on Friday it had signed a memorandum of understanding with Italian energy group Eni to accelerate its decarbonization programs.
Projects February 2024
East African Crude Pipeline delivers first shipment; Pembina acquires Enbridge’s stake in Alliance Pipeline; KM boosts Permian Highway pipeline capacity by 550 MMcf/d; and more!
OMV Petrom Accelerates Investments in Black Sea Gas Project, Targets 2027 Production
The Neptun Deep Black Sea gas project, one of the European Union's most significant natural gas deposits, is expected to cost $4.3 billion. OMV Petrom is developing it with state-owned gas producer Romgaz.
Delek's Big Spring Refinery Chosen for $95 Million DOE Carbon Capture Pilot Project
Delek US Holdings said on Friday the U.S. Department of Energy has selected its Big Spring refinery for a pilot carbon capture project and would provide up to $95 million of federal funding to support its development.
QatarEnergy Signs 10-Year Condensate Supply Deal with Japan's Mitsui
QatarEnergy has signed a deal to supply Japan's Mitsui & Co. with 11 million barrels of condensate per year for 10 years starting in April, Qatar's state-owned energy company said on Sunday.
- 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
- Evacuation Technologies to Reduce Methane Releases During Pigging
- Editor’s Notebook: Nord Stream’s $20 Billion Question
- Enbridge Receives Approval to Begin Service on Louisiana Venice Gas Pipeline Project
- Mexico Seizes Air Liquide's Hydrogen Plant at Pemex Refinery
- Russian LNG Unfazed By U.S. Sanctions
