Business & Markets

Uganda Gives Environmental Consent to $3.5B Oil Pipeline

Uganda has granted environmental approval for a $3.5 billion pipeline to export crude oil from western fields to the Indian Ocean coast in Tanzania.

Trump Administration Rule Would Reduce Environmental Reviews of LNG Projects

The U.S. Energy Department issued a rule to exclude some licensing of LNG projects from environmental reviews that have been required by law, in a show of support for the fossil fuel industry.

Brent Rises to Highest Since March after OPEC+ Output Cut Deal

Global benchmark Brent crude prices rose 1% to their highest since early March on Thursday on renewed hopes for a U.S. stimulus deal and after major oil producers agreed to increase output modestly from January.

OPEC+ Agrees to Slight Easing of Oil Cuts from January

OPEC and Russia on Thursday agreed to slightly ease their deep oil output cuts from January by 500,000 bpd but failed to find a compromise on a broader and longer term policy for the rest of next year.

Asia Needs Flexible LNG Deals Not Linked to Oil Prices - India Oil Minister

Asia needs flexible LNG contracts with no links to oil prices to reflect changes to the market as demand recovers from the impact of the coronavirus pandemic, India's oil minister said.

Eni Strikes Deals to Reopen Egypt's Damietta LNG Plant

Italian energy group Eni has struck deals with Spanish gas firm Naturgy and Egyptian partners to resolve disputes over a shuttered gas plant it part owns in northern Egypt.

U.S. Shale Firms Ramp Up Gas Output as Futures Signal Higher Prices

Higher natural gas futures prices for 2021 and a continued glut of crude oil are prodding U.S. shale firms to boost gas drilling and production.

China Launches 685-Mile Section of Natural Gas Pipeline

Operations have started on the middle portion of the China-Russia East natural gas pipeline, allowing natural gas from the Power of Siberia system in Russia to be transmitted to a smog-prone region in northern China.

Magellan Midstream to Boost Loading capacity at Cheyenne Terminal

Magellan Midstream Partners said it will invest $4.65 million to increase truck loading capacity at its refined oil products terminal in Cheyenne, Wyo., by more than 50%.

Mexico Shuts Off Natural Gas Supply to Brazil's Braskem

Mexico has cut off natural gas supply to Braskem's Mexican operations, the company and government said, intensifying a dispute between President Andres Manuel Lopez Obrador and the Brazilian petrochemical company.

Enbridge Starts Construction on Line 3 Pipeline in Minnesota

Enbridge began construction on its Line 3 crude oil pipeline replacement in Minnesota on Tuesday, a day after state regulators approved the final permit for the $2.6 billion project amid legal challenges from lactivist and Indigenous groups.

Fire Shuts Equinor Gas Processing Terminal, Methanol Plant

A fire at Norway's Tjeldbergodden industrial facility on Wednesday triggered an evacuation of staff and the shutdown of Europe's largest methanol plant and a gas processing terminal, state-controlled oil firm Equinor said.

Gassco Changes Make Norway Gas Flows Harder to Gauge - Analysts

Norwegian gas pipeline operator Gassco launched a revamped data website this week that switches away from live physical flows, drawing criticism from analysts who say it has reduced transparency in a key energy market.

U.S. Crude Oil Output Rises to 10.86 MMbpd in September

U.S. crude oil production rose 286,000 barrels per day in September to 10.86 million bpd, as production increases in North Dakota and the offshore Gulf of Mexico offset cuts in Texas.

Keystone XL Adds Contractors for U.S. Spreads

Six U.S. union construction companies from three states were awarded about $1.6 billion in contracts recently to build portions of the Keystone XL crude oil pipeline.

Biden Plan to End U.S. Fossil Fuel Subsidies Faces Big Challenges

President-elect Joe Biden's promise to end U.S. fossil fuel subsidies worth billions of dollars a year could be hard to keep due to resistance from lawmakers in a narrowly divided Congress, including from within his own party.

Simoes Succeeds Gentle as Tellurian CEO

U.S. LNG developer Tellurian said its president and chief executive, Meg Gentle, is leaving the company and will be succeeded by Octavio Simoes, previously executive vice president of LNG Marketing and Business Development.

Minnesota Gives Final Green Light to Line 3 Pipeline

Minnesota regulators approved the final permit Monday for Enbridge Energy’s Line 3 crude oil pipeline replacement across northern Minnesota, giving the company the green light to begin construction on the $2.6 billion project.

Anti-Pipeline Activists Face Terrorism Charges for Rail Scheme

Federal authorities in Seattle have charged two people with a terrorist attack on train tracks, suggesting they were motivated by opposition to a natural gas pipeline when they interfered with the operation of a railroad in Washington state.

Belgium-UK Gas Interconnector Pipeline Reduces Capacity

The Interconnector gas pipeline will reduce capacity for immediate delivery flows from Belgium to Britain, effective Tuesday, the operator said.

Rocket Attack Causes Fire at Oil Refinery in Northern Iraq

A rocket attack in northern Iraq hit a fuel storage tank at the Siniya refinery in Salahuddin province, causing a large fire to break out and briefly halting operations, the country's Oil Ministry said.

Minnesota Tribes File to Halt Line 3 Pipeline Approval Due to Virus

Two Native American tribes in northern Minnesota are asking state regulators to stop the imminent construction of Enbridge Energy's Line 3 crude oil pipeline replacement, saying it would increase the risk of coronavirus infections spreading.

Gazprom Swings to Q3 Net Loss of $3.3B, Raises 2020 Exports Outlook

Russian gas giant Gazprom reported a loss of 251.3 billion roubles ($3.3 billion) for the third quarter due to the weak rouble, the company said on Monday, while it also raised its outlook for gas exports to Europe, a key source of revenue.

Canadian Indigenous Deal with Keystone XL Took Years, Aims for Long-Term Wealth

TC Energy Corp's sale of a C$1 billion ($769 million) stake in Keystone XL to a Canadian indigenous group followed more than three years of pressure from a tiny Saskatchewan First Nation that demanded part ownership of the long-delayed oil pipeline.

OPEC Reaches Consensus to Extend Oil Cuts by 3 Months, Algeria Says

OPEC members have reached a consensus on the need to extend existing oil production cuts for three months from January and will work on convincing their allies in the wider OPEC+ group to support such a move, Algeria's minister said on Monday.

Nord Stream 2 to Resume Pipelaying This Year

Russia's Nord Stream 2 said it plans to resume pipelaying work on the short, final stretch of the stalled Moscow-backed gas pipeline to Europe, in spite of U.S. sanctions.

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.