Business & Markets

Russia's Transneft says Druzhba Pipeline to Resume on July 1

Russian pipeline monopoly Transneft expects the Druzhba pipeline to resume full operations from July 1, TASS news agency cited the company's vice president Sergey Andronov as saying on Friday.

U.S. Senator Introduces Bill to Sanction Nord Stream 2 Pipeline

U.S. Senator John Barrasso introduced a bill to slap sanctions on individuals and companies developing Russia's Nord Stream 2 natural gas pipeline, a day after President Trump said he was considering sanctions on the pipeline.

ExxonMobil to Expand Infrastructure for Growing Argentina Production

ExxonMobil announced it will proceed with a long-term oil development in Argentina's Vaca Muerta shale, including the construction of pipeline and export infrastructure to support an expected 55,000 oil-equivalent bpd by 2024.

Trump Considering Sanctions Over Russia's Nord Stream 2

U.S. President Donald Trump said on Wednesday he was considering sanctions over Russia's Nord Stream 2 natural gas pipeline project and warned Germany against being dependent on Russia for the fuel.

$1.6 Billion Liberty Pipeline Construction to Proceed Under Phillips 66, Bridger JV

Phillips 66 and Bridger Pipeline announced that they are proceeding with construction of the $1.6 billion Liberty Pipeline from the Rockies and Bakken production areas to Cushing, Okla.

Phillips 66, Plains Sanction $2.5 Billion Red Oak Pipeline System

Plains All American Pipeline and Phillips 66 announced they will proceed with construction of the Red Oak Pipeline system in a new joint venture to transport crude oil from the Permian Basin and Cushing, Okla., to Houston and multiple locations along the Texas Gulf Coast.

Canadian Oil Pipeline Congestion Sets up Lucrative Storage Play

As Canadian oil production has outpaced pipeline takeaway capacity, demand for storage in the oil sands province of Alberta has increased.

Court Lifts Injunction Blocking Keystone XL Pipeline

An appeals court has lifted a judge's injunction that blocked construction of the Keystone XL oil pipeline from Canada to the U.S., but the developer has said it's too late to begin work this year and environmental groups vowed to keep fighting it.

Brazil Supreme Court Approves Sale of Petrobas Pipeline Unit

Brazil's Supreme Court ruled on Thursday that state-run firms do not need congressional approval to sell their subsidiaries, a major victory for the government of President Jair Bolsonaro and state-run oil firm Petrobras.

Enbridge Seeks Michigan Court Ruling on Line 5 Pipeline Deal

Enbridge said will go to court after failing to strike a deal with Michigan Gov. Gretchen Whitmer on building an oil pipeline tunnel beneath the channel that connects Lakes Huron and Michigan.

5 Workers Hurt in Houston-Area Natural Gas Line Explosion

Five workers have been injured when a natural gas line exploded in a residential neighborhood southeast of Houston. The blast occurred as a CenterPoint Energy contractor was working along a line Thursday.

Talks Fall Through Over Shearwater Oil Field

BP is again seeking buyers for its stake in the Shearwater oilfield in the British North Sea after talks with Royal Dutch Shell fell through, industry and banking sources said.

Minnesota Court Rejects Environmental Assessment for Enbridge Line 3 Pipeline

A Minnesota court ruled on Monday that Enbridge Inc.'s environmental impact statement for replacement of its Line 3 oil pipeline is inadequate, raising the possibility of further delays.

Cheniere to Build Louisiana Sabine Pass 6 LNG Export Train

U.S. LNG company Cheniere Energy said on Monday it will build the sixth liquefaction train at its Sabine Pass LNG export terminal in Louisiana.

Gazprom Reports 44% Jump in Q1 Profit

Gazprom reported a 44% jump in first-quarter net income to 536 billion roubles ($8.3 billion), boosted by higher gas sales volumes and prices, and promised to increase dividends in coming years.

Russia's Oil Output Hits 11-Month Low on Dirty Oil Crisis

Russian oil output in May fell to its lowest level since June 2018, primarily due to closure of the oil-contaminated Druzhba pipeline.

Sentinel Midstream Submits License Application for Deepwater Crude Oil Export Facility

Sentinel Midstream, LLC, through its subsidiary Texas GulfLink, LLC, today announced that on May 30, it submitted a license application with the U.S. Maritime Administration (MARAD) to construct and operate a deepwater crude oil export facility.

NW Natural Completes North Mist Expansion Project

NW Natural has completed its North Mist Expansion Project and begun providing no-notice storage to Portland General Electric’s Port Westward plants to balance renewable power on the grid.

McDermott Announces First Cargo from Cameron LNG Train 1

McDermott International announced that the first cargo of liquefied natural gas (LNG) has been shipped from the Cameron LNG project in Hackberry, La., marking a key step and precursor to completion of Train 1. The latest development follows the announcement of first liquid from Cameron LNG Train 1 on May 14.

Water Solutions Company Paying Big for West Texas Ranch

A water solutions company out of Forth Worth, TX is ready to spend $450 million for water underneath a West Texas ranch.

PetroChina Raising Gas Prices Ahead of Pipeline Reshuffle

PetroChina is bucking normal practice and raising its wholesale natural gas prices during the weak-demand spring season, several sources said, preparing for the coming consolidation of China's pipeline assets and trying to recoup huge fuel import losses.

Saudi Aramco Inks 20-year Deal with Sempra for LNG Supply

Saudi Aramco signed a 20-year agreement to buy LNG from a forthcoming export terminal in Texas that U.S.-based Sempra Energy is developing, the two companies said on Wednesday.

National Grid Halts New Gas Service Until Williams Pipeline Approved

National Grid said it will not process new applications for natural gas service in its New York City and Long Island service areas until Williams' Northeast Supply Enhancement (NESE) pipeline receives the permits it needs to proceed.

Crude Contamination: Ukraine Suspends Pipeline Deliveries; Total Halts Refinery Operations

Ukraine's pipeline operator Ukrtransnafta confirmed on Friday that Russian oil flows transiting it to Europe were temporarily suspended, as Total halted some refining operations in Germany for technical checks due to contaminated crude supply.

Armed Drones Attack Oil Pumping Stations on Saudi Pipeline

Saudi Arabia said armed drones had struck two oil pumping stations on a pipeline Tuesday in what it called a "cowardly" act of terrorism two days after Saudi oil tankers were sabotaged off the coast of the United Arab Emirates.

China to Raise Tariffs on LNG Imports from United States

China said on Monday it would raise tariffs on LNG imports from the United States amid a series of additional levies, a move that could further reduce U.S. LNG shipments to the world's fastest growing importer of the fuel.

Buckeye Partners to be Acquired for $10.3 Billion

Buckeye Partners, which owns and operates one of the largest diversified networks of integrated midstream assets in North America, has agreed to be aquired by IFM Investors in an all-cash transaction with an enterprise value of $10.3 billion.

Petrobras To Sell Minority Stakes in Gas Pipelines

In line with the government’s proposal to reduce the state monopoly in the gas sector, Petrobras decided to put up for sale the remaining stake in the country’s two main gas pipelines, whose control was recently transferred to private partners.

New INGAA Report Highlights Importance of Natural Gas to a Lower-Carbon Economy

Natural gas will remain a significant contributor to the energy portfolio and to economic growth in the United States over the next two decades, playing a key role in meeting low-carbon goals, a new study commissioned by the INGAA Foundation finds.

Howard Energy Plans New Gathering System in STACK Play

Howard Energy Partners announced yesterday that it has executed an agreement with a major North American oil and gas producer to construct, own and operate a new natural gas gathering system located in the over-pressured area of the prolific STACK play. HEP’s new midstream infrastructure will be anchored by fee-based, long-term acreage dedications totaling approximately 10,000 acres in Dewey and Custer counties in central Oklahoma.