Business & Markets

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.

Shale Producer Pioneer Natural to Buy Parsley Energy for $4.5 Billion

Pioneer Natural Resources announced on Tuesday its intention to purchase Parsley Energy in an all-stock deal valued at $4.5 billion.

China Crude Storage Flows Accelerate as Last of Cheap Oil Offloads

China pumped more crude oil into storage in September reversing two months of drawdowns as the world's largest oil importer continued to work through massive purchases made earlier this year when prices plunged.

Oil Steadies After OPEC+ Meeting as U.S. Stimulus Hopes Face Libyan Supply Boost

Oil prices held steady on Monday hampered by concerns of a resurgence of the coronavirus pandemic and by increasing production in Libya but buoyed by hopes of as U.S. stimulus package.

TechnipFMC Awarded EPCI Contract for Equinor Breidablikk Pipelay and Subsea Installation

Oil and gas services frim Technip FMC has been awarded an Engineering, Procurement, Construction and Installation contract for Equinor's Breidablikk subsea pipelaying project.

U.S. Northeast: Taking a Fresh Look at an Old Region

PGJ explores how the Northeast region could play a big part in making sure the U.S. global energy dominance continues after the pandemic.

Islamic State Tells Supporters to Target Westerners, Oil Pipelines

An Islamic State spokesman called on the militant group's supporters to target westerners, oil pipelines and economic infrastructure in Saudi Arabia.

ConocoPhillips to Buy Concho Resources for $9.7 Billion

ConocoPhillips on Monday agreed to buy U.S. shale oil producer Concho Resources Inc for $9.7 billion, as the energy sector continued to consolidate amid lower fuel prices and demand.

Oil Dips on COVID-19 Resurgence, Fears of More Supply

A surge in COVID-19 cases across Europe and the U.S. in the past few weeks is causing concern throughout the industry of a continued drag on demand, evidenced by a dip in oil prices on Friday.

ADNOC to Divest 20% Stake in Gas Pipeline Assets

ADNOC has announced a 20% sale of its gas pipeline assets to the Abu Dhabi Pension Fund and a regional holding company, ADQ.

OPEC Says Group Will Ensure Oil Prices do not Plunge Again

The Secretary General of OPEC told an energy conference that the group and its allies will ensure oil prices do not drop off again as they did earlier this year in response to collapsing demand.