Business & Markets

Nigeria LNG Signs EPC Contract for Train 7 — Oil Minister

Nigeria’s oil minister on Thursday reported that Nigeria LNG has signed the engineering, procurement and construction contract for its Train 7 project.

U.S. Pipeline Regulator Strikes Down Washington State's Crude-by-Rail Safety Limits

The U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA) on Monday struck down crude-by-rail transportation restrictions imposed by Washington state, saying the measures would not lower the risk of explosions.

Oklahoma Regulators Take no Action After Oil Output Hearing

Energy regulators in Oklahoma declined to provide a timeline for a decision regarding requests from oil producers in the state to mandate production cuts in an attempt to stabilize to hard-hit industry.

Oklahoma Oil Regulators Hear Arguments on Output Cuts

Oil regulators in Oklahoma began hearing arguments on Monday from major oil producers hoping to convince the state to set production limits in an effort to bolster the industry slammed by collapsing oil prices.

NextDecade Says Coronavirus Could Delay Timing of Texas LNG Project

NextDecade said the collapse in global LNG demand caused by the coronavirus could delay the company's Final Investment Decision (FID) on its proposed Rio Grande LNG export plant.

BP Midstream Sees Lower Onshore Oil Pipeline Volumes Amid Pandemic

The ongoing coronavirus pandemic has caused a drop in volumes on BP Midstream's onshore oil pipelines for the first quarter, the company said on Friday.

Williams Announces Agreement on Deepwater Gulf Project

Williams has agreed to transport natural gas from Chevron and Total's Anchor offshore development to the Discovery pipeline system.

North American Oil Producers Slash Output Faster than OPEC Skeptics Expected

Oil producers in North America have cut oil production faster than many expected on track to reduce about 1.7 million barrels per day by June.

Enbridge Mainline Volumes Fall, Company Posts Quarterly Loss

Flows on Enbridge's Mainline system dropped in Q1 as the company posted a loss during the same period.

Shell Midstream Offers Mars Sour Crude Storage as Offshore Producers Keep Pumping

Shell Midstream is offering to store barrels of Mars Sour crude as offshore producers continue to pump oil amid the coronavirus pandemic.

Plains All American Sees Drop in Pipeline Volumes, Capline Reversal Progressing

Flows on Plains All American pipelines fell this quarter leading to a $2.8 billion loss for the company. The reversal of its Capline systems is still progressing as planned.

Ecopetrol Condemns Attacks on Oil Pipelines

Ecopetrol's oil transportation unit condemned a series of attacks in north east Colombia that have taken place against two of its pipelines since last Saturday.

Regulators Ease Storage Rules, Fees for Texas Producers

Texas oil and gas regulators voted to temporarily relax their rules for underground crude storage and waive related fees and surcharges that producers typically pay.

Texas Will Not Mandate Oil Production Cuts

Texas energy regulators on Tuesday said they will not mandate oil production cuts, ending a month-long debate about whether they would wade into global oil politics for the first time in 50 years as crude prices cratered.

Texas Eastern Gas Pipeline Explodes in Kentucky

Enbridge responded to an explosion Monday evening on Line 10 of its Texas Eastern system in Kentucky, and said Tuesday that it has shut-in a section of the pipeline. Gas futures rose on the news.

U.S. Natgas Prices Rise on More Demand, Slowing Output

U.S. natural gas futures climbed to a 15-week high Monday and held firm in early trading today on forecasts for cooler weather and more heating demand and slowing output.

Freeport LNG Starts Commercial Operation of Third Train

Freeport LNG said it began commercial operations for its third liquefaction train on Friday, with the commencement of liquefaction services to Total S.A. and SK E&S under their tolling agreements with Freeport.

Poland's Gaz-System Reaches $306 Million Pipeline Deal with Saipem

Polish gas grid operator Gaz-System said on Monday it signed a 280 million euro ($306 million) contract with Italian oil services group Saipem to build a section of the Baltic Pipe between Denmark and Poland.

Williams Places Phase II of Hillabee Expansion in Service

Williams said it has placed Phase II of the Hillabee expansion project in service, adding natural gas capacity to the Transco system and direct access to Florida’s rapidly growing power generation market.

Russian Pipelaying Vessel Reaches Baltic as Nord Stream 2 Target Looms

A Russian pipelaying vessel that could be used to complete construction of the Nord Stream 2 gas pipeline to Germany has arrived in the Baltic Sea.

Magellan Midstream Diesel Flows Fall, Projects Continue

Magellan Midstream has reported a decline in diesel flows on its pipelines as drilling activity in the Permian Basin has dropped due to the collapse in oil prices.

Phillips 66 Posts Loss on $3 Billion Writedowns in Refining, Transportation Units

Phillips 66 took $3 billion in writedowns during Q1, but strong earning in the company's midstream sector helped offset other losses.

TC Energy Boosts 2020 Capex to Build Keystone XL Pipeline

TC Energy, bolstered by better-than-expected quarterly profit earnings, is raising its capital spending budget for 2020 in order to build its Keystone XL Pipeline.

Head of Texas Energy Regulator Opposes State-Mandated Oil Curbs

The head of the Texas energy regulator has stated his opposition to a proposal of state-mandated oil production cuts.

Cheniere Moderates 2020 U.S. LNG Growth Estimates

Due to the coronavirus pandemic, Cheniere Energy, the largest LNG company in the U.S., has cut its growth estimates for LNG exports as well as its investment in new projects.

Greek-Italian Joint Venture Seeks Contractors for EastMed Gas Pipeline

Greece's DEPA and Italy's Edison are looking for contractors to build part of the EastMed gas pipeline.

Ecopetrol Unit to Let Colombia Oil Producers Cut Pipeline Costs for Two Months

Ecopetrol subsidiary Cenit is allowing Columbian oil producers to reduce their transit tariffs by 50% for two months in an effort to ease the strain on the industry due to the coronavirus pandemic.

Calcasieu Pass Raises Roof for First LNG Storage Tank

Venture Global LNG said it raised the first LNG storage tank roof at its Calcasieu Pass export facility in Cameron Parish, Louisiana. The milestone was completed on schedule and comes eight months after the project’s final investment decision, it said..

Reporting Higher Q1 Profits, Enterprise Products CEO Puts a Personal Spin on COVID Response

Enterprise Products Partners’ outspoken co-CEO Jim Teague used a conference call with investors Wednesday as an opportunity to comment on the U.S. economic shutdown, reflecting on his personal experiences during the 1950s polio epidemic and as a helicopter pilot in Vietnam in relation to the COVID-19 response.

Enterprise Products Partners Cuts Capex, Says Oil Pipeline Volumes Steady

Enterprise Products has cut its capital expenditures for 2020 and says volumes on its oil pipelines have not yet declined as oil demand continues to drop around the world.