Business & Markets

Exxon to Exit Africa in Crude Phaseout, Eyeing Low-Carbon Natural Gas Options

Exxon's departure reflects a wider move by major oil producers to reduce crude production in West Africa and shift investments to lower-carbon natural gas development on the continent, and to more lucrative projects in the Americas.

US Proposes Rules to Limit Methane Leaks from Public Lands Drilling

The U.S Interior Department's Bureau of Land Management on Monday proposed rules to limit methane leaks from oil and gas drilling on public lands, the latest move by the Biden administration to crack down on the potent greenhouse gas.

India to Receive First LNG Cargo from Indonesia's Tangguh LNG

India will receive its first cargo from Indonesia's Tangguh LNG plant at the Dahej terminal on Monday, according to a Refinitiv analyst and Refinitiv ship tracking data.

China's Shenzhen Energy Signs Long-Term LNG Contract with BP

China's Shenzhen Energy Group has signed a long-term agreement with oil major BP to buy LNG, aiming to lock in supplies with gas-fired power generation poised to surge in the world's second-largest economy.

Israel's NewMed Energy Leaning Towards Floating LNG Expansion

Israel's NewMed Energy said on Thursday it was leaning towards building a floating liquefied national gas terminal to further develop its Leviathan gas field off Israel's Mediterranean coast.

Italian City of Piombino Challenges LNG Terminal Project

The Italian city of Piombino has launched a legal challenge against a government-backed project for a new LNG terminal in the Tuscan port that is seen as key to helping wean Italy off Russian gas.

Poland Seeking German Support to Sanction Russian Druzhba Oil Pipeline

Poland is seeking German support to slap EU sanctions on the Polish-German section of the Druzhba crude pipeline so Warsaw can abandon a deal to buy Russian oil next year without paying penalties, two sources familiar with the talks said.

Sempra Strikes LNG Supply Deal with ConocoPhillips

Sempra Energy said on Tuesday that ConocoPhillips will buy five million tonnes per annum of LNG from Phase 1 of the Port Arthur LNG project under development in Jefferson County, Texas.

US Natural Gas Implied Volatility Hits Record on Delayed Freeport LNG Restart

U.S. natural gas futures implied volatility hit a record high on Tuesday following weeks of rapid price moves due to changing winter weather forecasts and questions about the restart of the Freeport LNG export plant in Texas.

Russia's Transneft Says Part of Druzhba Oil Pipeline in Ukraine Suspended

A section of the Druzhba oil pipeline in Ukraine has been partially suspended, Russia's TASS news agency reported on Wednesday, citing the state-owned pipeline operator Transneft.

Linde Starts Green Hydrogen Production in Greece

Linde, the world's largest industrial gases company, said on Tuesday it has started producing green hydrogen at its facilities in Greece. The U.S.-German company, which supplies gases such as oxygen, nitrogen and hydrogen to factories and hospitals, said it was the first green hydrogen production in Greece.

TotalEnergies, Air Liquide to Produce Low-Carbon Hydrogen in France

Industrial gases company Air Liquide and TotalEnergies plan to produce low-carbon hydrogen at the Grandpuits site in France, the pair said on Tuesday, as France looks to increase its sources of renewable energy.

Germany's LNG Terminals to Cost More Than Double Earlier Estimate

The purchase and maintenance of floating LNG terminals to help Germany secure energy supplies and diversify away from Russian gas, will cost more than 3 billion euros ($3.10 billion) more than planned, the economy ministry said on Sunday.

Yemen's Houthis Attack Al-Dhabba Oil Terminal, Force Ship to Leave

Yemen's Houthis attacked al-Dhabba oil terminal in Hadhramaut province on Monday, the group and Yemen's internationally recognized government said.

Carbon Capture Not Ending Pipeline Woes

(P&GJ) — With growing demand and government incentives to develop more carbon capture and sequestration (CCS) capacity, some of the biggest U.S. pipeline projects now on the drawing board are designed to transport CO2 from source to storage.

New Fortress Finalizes Deal to Develop Lakach Gas Project in Mexico

New Fortress Energy said on Tuesday it had finalized agreements with Mexican state oil company Pemex for the development of an LNG project associated with the country's Lakach offshore gas field.

Equitrans Stops Natural Gas Leak at Pennsylvania Storage Facility

U.S. energy company Equitrans Midstream Corp. said it stopped a natural gas leak at its Rager Mountain storage facility in Jackson Township in Cambria County in western Pennsylvania on Thursday afternoon.

US New England Set to Get First LNG Cargo Since Summer

New England could get a load of much needed LNG for the winter heating season in coming days from a vessel full of the super-cooled fuel that is sitting in Boston Harbor.

Qatar Signs 27-Year Deal with China as LNG Competition Heats Up

QatarEnergy has signed a 27-year deal to supply China's Sinopec with LNG, the longest such LNG agreement so far as volatile markets drive buyers to seek long-term deals.

Delfin Gets More Time to Build US Gulf of Mexico LNG Export Plant

U.S. energy regulators on Friday extended until September 2023 the amount of time liquefied natural gas developer Delfin LNG has to put the onshore part of its proposed Gulf of Mexico floating export project off Louisiana into service.

Shell's Zydeco Oil Pipeline Running at Reduced Capacity

Shell Pipeline Co.'s Zydeco oil pipeline from Houston to Port Neches, Texas, is operating at reduced capacity due to project work at Port Neches, and is expected to remain at reduced capacity until mid to late December, the company said on Thursday.

Mexico In Talks with US Storage Providers to Set Up Gas Reserve

Mexico is in talks with U.S. storage providers to create a strategic gas reserve that could be used in emergencies, an official with the country's state power utility said, after a 2021 cold snap left businesses in northern Mexico without gas.

White House Asks Congress for $500 Million to Modernize Oil Reserve

The Biden administration has asked Congress for $500 million to modernize the U.S. strategic petroleum reserve (SPR), a document outlining the request shows. The SPR oil is stored in hollowed-out, underground salt caverns that can shift and potentially require maintenance when petroleum is removed and replaced.

Green Groups Sue Louisiana Over Venture Global LNG Permit Exemption

Three environmental groups have sued the Louisiana Department of Natural Resources for exempting Venture Global LNG from needing an environmental permit to build a LNG terminal, the organizations said on Wednesday.

Malaysia's Petronas Interested to Join Abadi LNG Project

Malaysian state oil and gas company Petronas has expressed interest to participate in Indonesia's takeover of Shell's stake in the Abadi LNG project, Indonesia's upstream oil and gas regulator told a parliamentary hearing on Wednesday.

EIG Targets Australia's Origin to Build Global LNG Company

EIG, teaming with Brookfield Asset Management in a A$15.5 billion ($10.5 billion) bid to split Australia's Origin Energy, is looking to use the deal to help build a global LNG company, its boss said on Wednesday.

New Fortress to Sign Deal for Mexico's Lakach Gas Project Next Week

U.S. company New Fortress Energy expects to sign an agreement next week with the Mexican government for the development of a LNG project associated with Mexico's Lakach offshore gas field, a company executive said on Wednesday.

UGI to Develop Fifth Renewable Natural Gas Project in Upstate New York

(P&GJ) — The project is expected to produce approximately 35 million cubic feet of RNG annually that will be delivered to a local natural gas pipeline serving the regional distribution system.

Trinidad Soon to Decide on Bids for Deepwater Gas Exploration Auction

Trinidad and Tobago's Cabinet will make a decision soon on bids submitted for four deepwater exploration blocks that are key to expanding its natural gas production, Energy Minister Stuart Young said.

Germany Completes Construction of Wilhelmshaven Floating LNG Terminal

Germany on Tuesday completed construction of its first floating terminal for LNG at the North Sea port of Wilhelmshaven as it scrambles to secure more LNG and move away from Russian pipeline gas.