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.
A gas condensate pipeline at a gas refinery in southwestern Iran exploded on Thursday after being hit by an excavator, Iranian news agencies reported.
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.
The United States said on Tuesday it would release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Britain to cool prices after OPEC+ producers repeatedly ignored calls for more crude.
Natural gas customers in British Columbia and the Pacific Northwest are facing reduced supplies after Enbridge shut a segment of its Westcoast pipeline as a precaution, reducing flows to 1.4 b Bcf/d from up to 1.8 Bcf/day.
Russian gas continued flowing via the Yamal-Europe pipeline to Germany at Thursday levels, preliminary data from German network operator Gascade showed, below volumes seen earlier in the week when Gazprom started to increase supplies to refill its storage.
Several African countries plan to exploit their oil and gas reserves to tackle poverty and energy shortages, representatives gathered in Dubai said this week in the face of pressure to end fossil fuel extraction to curb global warming.
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