News1

Largest Texas ports close as Hurricane Beryl nears, affecting Enbridge and Kinder Morgan operations. The companies implemented emergency plans and facility shutdowns ahead of the storm's landfall on the Texas coast.

Brent crude futures were down 60 cents, or 0.7%, at $79.98 a barrel, while U.S. West Texas Intermediate (WTI) crude futures lost 68 cents, or 0.9%, to $74.86. Both contracts lost $1 in early trading.

The Organization of the Petroleum-Exporting Countries (OPEC) and the Paris-based IEA have repeatedly clashed in recent years over issues such as long-term oil demand prospects and investment in new hydrocarbon supplies.

The 2022 Analysis of the Current and Future Economic Impact of the Texas Oil and Gas Pipeline Industry study shows that through ongoing operations and construction in 2022 alone, the Texas oil and gas pipeline industry provided more than $60.5 billion in economic output.

Unexplained explosions ruptured both Nord Stream 1 and the newly built Nord Stream 2 pipelines, carrying gas from Russia to Germany under the Baltic Sea. Russia has repeatedly said the West was behind the blasts. The West and Ukraine have denied involvement.

A poll of businesses shows German companies want to boost their activities in Africa next year, especially in areas such as green hydrogen and LNG.

Argentina’s booming shale production in Vaca Muerta, a formation that rivals the United States’ Permian Basin, is at risk of running out of road as infrastructure to handle the oil and gas nears capacity, threatening to put the brakes on rapid growth.

On the afternoon July 11, the part of the Texas electric grid managed by the Electricity Reliability Council of Texas (ERCOT) produced roughly 80,000 megawatts (MW) of electricity.

EIA Updates Oil Price Forecasts Through 2023, Indian Oil Investing $944 Million on Gas Sales in New Areas, Cruz’s Nord Stream 2 Sanctions Bill Fails to Pass in US Senate and more.

GIPL Pipeline Construction Nears Completion, Ironwood Midstream Expanding in South Texas’ Eagle Ford, Dakota Natural Gas Expanding Access with Pipeline Project, and more.

US Oil Pipelines at Half-Capacity, U.S. Natural Gas Production to Increase in 2022, Osaka Gas Plans to Enter India’s City Market, and more.

A gas condensate pipeline at a gas refinery in southwestern Iran exploded on Thursday after being hit by an excavator, Iranian news agencies reported.

While not as volatile as the previous 12 months, 2021 brought its share of anxiety as we in the energy industry – midstream in particular – worked to recover from the fallout caused by the COVID-19 virus. There were also victories along the way.

Western Canadian oil and gas producers will drill 27% more wells in 2022 than the previous year, returning to pre-pandemic levels as prices rebound and pipeline projects advance, the Canadian Association of Energy Contractors (CAOEC) said.

Poland raised its seaborne oil imports as well as crude supplies from Saudi Arabia to multi-year highs in October amid tensions with neighboring Belarus and talks on new supply deals with Russia, according to Refinitiv Eikon data and traders.