Business & Markets

EU Set to Deny Gas Power Plants a Green Investment Label

Power plants fueled by natural gas will not be classed as a sustainable investment in Europe, unless they meet an emissions limit that none currently comply with, according to draft European Union regulations.

Canada Opens Oil Taps as Demand Grows, Curbs Lift

Canadian crude producers are churning out extra barrels to finish their hardest year in decades on a higher note, after Alberta's government lifted restrictions and as demand for heavy oil surged.

Oil Prices Rise as U.S. Presidential Election Looms

Oil prices gained nearly 3% on Monday, rebounding from several days of losses built on concerns of rising coronavirus cases, one day before the end of U.S. presidential election voting.

Funds Sell Oil on Fears of Virus-Driven Economic Double Dip

Hedge funds sold petroleum last week as the rising number of coronavirus cases in the United States and Europe fueled fears of a double-dip recession hitting oil consumption.

Dresser NGS Expands Product Line with Acquisition of Flow Safe

Dresser Natural Gas Solutions has acquired Flow Safe in a move that enables the Houston-based measurement and instrumentation provider to offer over-pressure protection for its natural gas customers.

U.S. Drillers Add Oil and Gas Rigs for Third Straight Month

U.S. energy firms this week added oil and natural gas rigs for a seventh week in a row for the first time since June 2018, and for a third consecutive month, even as oil majors cut spending due to the COVID-19 pandemic's impact on energy demand and prices.

Oil Falls on Demand Concerns, Posts Second Monthly Decline

Oil prices fell on Friday and posted a second consecutive monthly drop as rising COVID-19 cases in Europe and the United States heightened concerns over the outlook for fuel consumption.

Losses Mount for Oil Companies as Pandemic Grips Economy

Already struggling with weak prices from oversupply, the pandemic has intensified the pain for oil and gas companies.

Shell Midstream's Revenue Slides During Active Storm Season

Shell Midstream Partners said third-quarter revenues took a $10 million hit during hurricane season, which is likely to cause more financial damage through the end of the year.

Russia's Gazprom Seeks More Capacity to Transport Gas Through Ukraine — Naftogaz

The head of Ukraine's state natural gas firm Naftogaz said Russia's Gazprom has approached them seeking to book more transport capacity on its natural gas pipelines to Europe.

U.S. Energy Secretary Doesn’t See Oil Production Returning Soon to Pre-Pandemic Levels

The U.S. Secretary of Energy told reporters at an industry conference on Wednesday that he does not expect the country's oil output to return to pre-pandemic levels until at least after 2021.

Enterprise Crude Pipeline Transport Volumes Drop Over 26% on Oil Price Plunge

Enterprise Products reported on Wednesday that crude volumes on its pipelines fell 26.1% as lower fuel demand caused by the coronavirus pandemic forced producers to slash output.

Texas Pipeline Association Study Shows Economic Impact of Texas Pipelines

A study commissioned by the Texas Pipeline Association revealed that the Texas oil and gas pipeline industry had a $48.6 billion impact on the state in 2019.

TC Energy to Begin Construction on NGTL Expansion Project

TC Energy has received approval from the Canadian government for its 2021 NOVA Gas Transmissions Ltd. (NGTL) System Expansion Project.

DTE Energy to Spin Off Gas Pipeline Business

Michigan utility DTE Energy announced on Tuesday it is spinning off its gas pipeline business into a publicly-traded company.

Canada's Cenovus to Buy Husky for $2.9 Billion

Canada's Cenovus Energy has agreed to purchase Husky Energy for nearly $3 billion as the industry is forced to consolidate amid the pandemic continues to suppress demand.

Nord Stream 2 Pipe-Laying Vessel Nears Project Hub

A Russian pipe-laying vessel, expected to help complete the $11 billion Nord Stream 2 pipeline, is heading towards a pipeline storage yard for the project in Germany, according to ship-tracking data.

IEnova Expects Mexican Export Permit for Costa Azul LNG This Year

IEnova, a unit of Sempra Energy, still expects to receive a permit from Mexico for its Costa Azul LNG export facility by the end of the year.

Canada's Alberta to End Monthly Oil Production Curbs in December

The Canadian province of Alberta will lift curbs on crude oil production at the start of December, allowing producers to use pipeline capacities and create jobs, the region's energy minister Sonya Savage said on Friday.

Belarus Resumes Pipeline Transit of Russian Oil to Poland

Belarus resumed transit of Russian oil to Poland, after pipeline operator PERN said it had to temporarily suspend flows due to local power-supply issues.

U.S. Pipeline Gas Exports to Mexico Increase Despite Pandemic

U.S. exports of natural gas to Mexico, almost all of which are transported by pipeline, have continued to increase in 2020 despite the COVID-19 crisis, according to the U.S. Energy Information Administration.

API Fact-Checks Presidential Debate Energy Positions

Responding with a fact-check of the presidential debate, API called for bipartisan solutions that do not force a false choice between protecting the environment and growing the U.S. economy.

Biden Calls for ‘Transition’ from Oil; GOP Sees Opening

Democrat Joe Biden’s remark that he would “transition” away from oil in the U.S. in favor of renewable energy drew quick attention Thursday night from President Donald Trump, who saw it as a boon to his election chances in key states.

Gulf Energy Information Introduces Hydrogen Data with New Platform

Gulf Energy Information has launched Global Energy Infrastructure (GEI), a comprehensive dataset covering projects across the energy industry.

Brooge Energy Begins Preconstruction Work on Phase III Oil Storage Facility

Oil storage firm Brooge Energy has begun preconstruction work on Phase III of its storage facility outside the Straight of Hormuz in the United Arab Emirates.

French Government Asks Engie to Delay U.S. LNG Deal Over Environment Concerns — Source

According to a source familiar with the matter, the French government has asked Engie to reevaluate its U.S. LNG import deal over environmental concerns.

Kinder Morgan Permian Highway Still on Track as Profit Falls

U.S. pipeline operator Kinder Morgan told investors on Wednesday that its Permian Highway pipeline was still on track to begin service in 2021 even as quarterly profit fell 10% due to lower shipping volumes.

FERC Approves Kinder Morgan Acadiana Expansion Project

The U.S. Federal Energy Regulatory Commission has approved Kinder Morgan Louisiana Pipeline’s Acadiana Project.

Kleinfelder Completes Acquisition of Gas Transmission Systems

San Diego-based Kleinfelder Group said it has acquired utilities and pipeline services firm Gas Transmission Systems (GTS) for an undisclosed sum.

U.S. LNG Jumps to 20-Month High on Rising Exports, Cold Weather

Natural gas prices in the U.S. jumped to their highest level in nearly two years on Tuesday on higher volumes of LNG exports and forecasted colder weather than previously expected.