Natural Gas
Case Study: Identification, Sizing Accuracy for UTCD In-Line Inspection
One of the most pressing concerns for operators of liquid buried pipelines is the management of stress corrosion cracking (SCC). Detecting and sizing SCC in liquid pipelines is usually accomplished through ultrasonic crack detection (UTCD) in-line inspection tools.
ConocoPhillips Beats Quarterly Profit Estimates with Higher Production
U.S. oil and gas producer ConocoPhillips beat Wall Street estimates for fourth-quarter profit on Thursday, helped by higher production in the Permian Basin and from a recent acquisition.
Woodside, Santos End $52 Billion Merger Talks Over Valuation Dispute
Australia's Woodside Energy and Santos said on Wednesday they had ended talks to create a possible $52 billion global oil and gas giant, and Santos flagged it would look for other ways to bolster its value.
California Resources Boosts Production with $2.1 Billion Deal for Aera Energy
U.S. oil and gas firm California Resources said on Wednesday it would buy Aera Energy in a deal valuing the California-based company at $2.1 billion, including debt, to gain more acreage in the most populous U.S. state.
Norway's Equinor Open to More Long-Term Gas Deals
Norway's Equinor would welcome more long-term supply agreements for its natural gas production, after announcing several such deals last year, the head of its marketing, midstream and processing division said on Wednesday.
Techint-SACDE Consortium Secures Contract for Northern Argentina Gas Pipeline Reversal
The joint venture Unión Transitoria de Empresas (UTE) has been awarded the contract to build a pipeline that will supply the provinces in northern Argentina with gas from Vaca Muerta, substituting gas imported from Bolivia, where production is already registering a major decline.
Venture Global and Grain LNG Ink 16-Year Deal for LNG Supply to UK
Under the agreement, Venture Global will have the ability to access 3 million tonnes per annum of LNG storage and regasification capacity at the Isle of Grain LNG receiving terminal for sixteen years beginning in 2029-equivalent of up to 5% of average U.K. gas demand.
Shell Commits to Developing Nigeria Gas Field to Supply Dangote Fertilizer Plant
Shell has made a final investment decision to build a gas supply facility in Nigeria to feed a fertilizer plant owned by Africa's richest man Aliko Dangote, the company said in a statement.
Guest Perspective: Aramco’s Best of Both Worlds
Saudi Aramco’s energy strategy should teach The West a lesson: invest in hydrocarbons now. Not only is oil and gas crucial for near- and medium-term energy security and affordability, but there is also a huge amount of money to be made that can be put toward the transition.
Germany Unveils $17 Billion Subsidy Plan for Hydrogen-Ready Gas Power Plants
Germany's government has agreed plans to subsidize gas power plants that can switch to hydrogen, the economy ministry said on Monday, with a price tag of $17 billion in subsidies as part of efforts to supplement intermittent renewable energy and speed up the transition to low carbon generation.
Projects February 2024
East African Crude Pipeline delivers first shipment; Pembina acquires Enbridge’s stake in Alliance Pipeline; KM boosts Permian Highway pipeline capacity by 550 MMcf/d; and more!
OMV Petrom Accelerates Investments in Black Sea Gas Project, Targets 2027 Production
The Neptun Deep Black Sea gas project, one of the European Union's most significant natural gas deposits, is expected to cost $4.3 billion. OMV Petrom is developing it with state-owned gas producer Romgaz.
Chevron Exceeds Permian Production Estimates, Signals Growth Potential
After a year marked by oil and gas production setbacks, Chevron Corp. on Friday delivered a better-than-expected 10.7% annual gain from the Permian Basin, its top shale-producing region.
Tanzania's TPDC Doubles Stake in Mnazi Bay Gas Field Deal with Maurel & Prom
The Mnazi Bay gas field, in the Mtwara region of the country's south, has an estimated 641 Bcf of recoverable natural gas reserves and contributes nearly half of the gas used to generate electricity in the East African country.
TotalEnergies to Acquire OMV's Malaysian Gas Assets for $903 Million
TotalEnergies has entered into an agreement with OMV for the acquisition of OMV's 50% interest in SapuraOMV Upstream Sdn, a Malaysian independent gas producer and operator.
Exxon Beats Estimates, Closes 2023 with $36 Billion Profit
Exxon Mobil on Friday posted a better-than-expected $36 billion profit for 2023, lifted by fuels trading and higher oil and gas production.
Phillips 66 Beats Profit Estimates on Strong Refining, Midstream Performance
Refiner Phillips 66 beat quarterly profit estimates on Wednesday, helped by strong refining margins and gains from its midstream unit, sending its shares up 2.6% to an all-time high of $146.11.
Poland's Gaz-System Chooses Mitsui O.S.K. Lines for LNG Regasification Unit
Polish pipeline operator Gaz-System has chosen Japan's Mitsui O.S.K. Lines to supply a floating storage and regasification unit (FSRU), it said on Thursday.
Using Dry Gas Sealing Solutions to Drive Energy Efficiency
Natural gas serves as the transitional fuel between hydrocarbons and renewables. Centrifugal compressors are crucial for efficiently transporting large volumes of natural gas, utilized across various industries from oil and gas to petrochemicals and LNG.
Woodside Urged to Abandon $57 Billion Santos Merger by Major Shareholder
Woodside should walk away from its proposed $57 billion merger with Santos rather than pay a premium for its smaller rival, a large shareholder said on Thursday, a sign of the deep divide between both sides over fair value.
Silver Hill Energy Partners to Buy Liberty Resources' Bakken Assets
Silver Hill Energy Partners said on Wednesday it would acquire Liberty Resources II's interests in oil and gas properties and all of Liberty Midstream Solutions in North Dakota for an undisclosed amount.
U.S. LNG Exports Decline in January Due to Arctic Freeze, Plant Outages; Europe Dominates Despite Challenges
Cold weather and outages at second-largest exporter Freeport LNG cut U.S. LNG exports last month below the December record, LSEG ship tracking data showed.
Business News February 2024
Association news, personnel changes and mergers and acquisitions in February 2024!
Global News February 2024
Latest industry developments from around the world!
Methane Standards Hit Pipelines More Gently Than Proposed
The Environmental Protection Agency (EPA) issued final methane performance standards for natural gas controllers and compressors, which will require midstream and interstate pipelines to take a new look at their emission controls.
Marathon Petroleum Beats Profit Estimates, Plans Maintenance Slowdown in Q1 2024
Marathon Petroleum beat quarterly profit estimates on Tuesday, supported by strong refined product margins and high refinery utilization rates, but expects to cut back plant activity sharply at the start of this year for maintenance.
Phillips 66 Shuts Section of Oklahoma Panhandle Pipeline After Fire
Phillips 66 said it has shut a section of a natural gas pipeline it operates in the Oklahoma Panhandle after fire and rupture that occurred on Tuesday morning.
Oil Producer Hess Tops Profit Estimates on Higher Bakken, Guyana Output
U.S. oil and gas firm Hess beat Wall Street estimates for fourth-quarter profit on Wednesday, helped by higher production in its Bakken shale and Guyana operations.
MPLX Exceeds Q4 2023 Expectations with Surge in Pipeline Volumes
Midstream energy company MPLX on Tuesday reported higher fourth-quarter earnings, beating expectations, as its pipelines transported an increased volume of energy products.
ADNOC Gas Inks 10-Year LNG Supply Deal with India's GAIL
ADNOC Gas on Tuesday signed a 10-year agreement to supply 0.5 million metric tons per year of LNG to India's largest natural gas company GAIL.
- Keystone Oil Pipeline Resumes Operations After Temporary Shutdown
- Freeport LNG Plant Runs Near Zero Consumption for Fifth Day
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
- Mexico Seizes Air Liquide's Hydrogen Plant at Pemex Refinery
- Enbridge to Invest $500 Million in Pipeline Assets, Including Expansion of 850-Mile Gray Oak Pipeline
