Business & Markets

Mexican President Hopes for Pipeline Deal Next Week

Mexican President Andres Manuel Lopez Obrador said on Thursday a deal could be reached next week with companies to end a contractual dispute over several natural gas pipelines, dialing back hopes for a quicker resolution.

New Permian Pipelines May be Hurting U.S. Crude Exports

Two long-awaited pipelines out of the busiest U.S. shale patch started shipping oil to Gulf Coast export hubs last week - just as U.S. crude barrels suddenly do not look all that attractive to buyers around the world.

Lotus Midstream Considers Reversing West Texas to Cushing Pipeline

Pipeline operator Lotus Midstream LLC may reverse flows on a line now sending crude from West Texas to Cushing, Oklahoma, the main hub for pricing U.S. crude futures, three people familiar with the matter said on Tuesday, an unusual move that could lift U.S. benchmark prices by draining supplies.

Sources: Majors Stuck with Tainted Russian Crude While Compensation Talks Continue

BP and Glencore are struggling to sell around 600,000 tons of tainted Russian oil more than three months after the contamination was discovered, according to six trading sources.

Canada's Alberta Extends Oil Curtailments Through 2020 Due to Slow Pipeline Progress

The government of Canada’s main oil-producing province, Alberta, said on Tuesday it was extending mandatory curtailments on crude production by an extra year through 2020, because of uncertainty about when expanded pipelines may come online.

Pembina to Acquire Kinder Morgan Canada, Cochin for $3.3 Billion

Calgary-based Pembina Pipeline has agreed to acquire Kinder Morgan Canada and the U.S. portion of the Cochin Pipeline system in a $3.3 billion deal that expands its Canadian storage capacity in a period of high demand.

Investors Flock to Finance Calcasieu Pass LNG Construction

Venture Global said it has made a final investment decision to proceed with construction of its $5.8 billion Calcasieu Pass LNG facility after its financing was nearly two times oversubscribed with more than $10 billion in binding commitments

Natural Gas Deliveries to U.S. LNG Export Facilities Set Records

Natural gas deliveries to U.S. LNG export facilities set a monthly record in July 2019, averaging 6 Bcfd, or 7% of the nation's total dry natural gas production, the U.S. Energy Information Administration (EIA) reported.

Pipeline Shippers Challenge Plains' Steel Tariff Surcharge

Two U.S. shale producers have challenged an energy pipeline operator's proposed surcharge for the Trump administration's 25% tariff on imported steel, raising the stakes for pipeline builders facing higher construction costs.

China's CNPC Suspends Venezuelan Oil Loading Due to U.S. Sanctions: Sources

China National Petroleum Corp, a leading buyer of Venezuelan oil, has halted August loadings following the latest U.S. sanctions on the South American exporter, three sources with direct knowledge of the matter told Reuters on Monday.

Ukraine Plans to Create Capacity for Romanian Gas Imports

Ukraine, preparing for a possible cut in Russian gas supplies, has agreed with neighboring Moldova to modernize their border gas metering stations so it can receive gas from Romania, Ukraine's gas transport company Ukrtransgaz said on Monday.

LNG Steals Euro Market Share from Pipeline Gas, Breaking 4-Year Trend

Europe's two biggest suppliers of pipeline gas, Norway's Equinor and Russia's Gazprom, have lost market share for the first time in at least four years amid a tripling in LNG imports into the region over the past 10 months.

ICE, Magellan to Offer Dock Capacity to Houston Oil Futures Customers

Intercontinental Exchange and Magellan Midstream said this week they would auction dock capacity at Magellan's terminals in Galena Park and Seabrook, Texas, for holders of ICE's Permian West Texas Intermediate (WTI) crude futures contracts.

Pipeline Constraint in North Dakota Causes Flaring to Reach Record Levels

Regulators say the volume of natural gas flared in June reached an unprecedented level due to shutdowns of several natural gas processing facilities and pipelines.

Freeport LNG to Load First Cargo From Texas Plant

Freeport LNG, which recently received federal approval for construction of a fourth liquefaction train at its Quintana Island plant, appears on schedule to load its first LNG shipment to Asia from Train 1 in the third quarter.

Bid for Inter Pipeline Highlights Strength of Canada's Midstream Sector

A recent unsolicited bid for Inter Pipeline Ltd has highlighted the potential of Canada’s midstream companies to offer insulation from volatile oil prices.

EPIC Midstream Ships First Crude on New Permian-Gulf Coast Pipeline

EPIC Midstream Holdings Inc on Thursday began shipping crude oil on its 400,000 barrel per day (bpd) pipeline from the Permian Basin to the U.S. Gulf Coast, pushing Midland crude prices higher, traders said.

Ukraine Preparing for Russian Gas Supply Cut if Transit Deal Falls Through

Ukraine's gas transport company Ukrtransgaz has upgraded several gas pumping stations so it can provide gas to eastern and southern regions of the country if there is a disruption in supply from Russia, the company said on Wednesday.

NuStar Energy Receives First Shipment of Permian Crude Oil From Cactus II Pipeline

NuStar Energy has announced that it has received its first shipment of Permian crude at its Corpus Christi North Beach Terminal, and that the terminal will load the first cargo of the long-haul Permian crude onto a ship for export this weekend.

Anadarko Midstream Group Gets New Oxy Leadership After Buyout, Could Hint at Future Sale

Less than a week after Anadarko’s shareholders overwhelmingly approved its acquisition by Occidental Petroleum (Oxy), the new owners have replaced executive leadership at Western Midstream (WES), a business that is viewed as a prime target for sale by Oxy as it seeks to reduce debt from the buyout.

Mid-East Group, Russia Split on Caspian Resources, Pipeline

Five countries bordering the energy-rich Caspian Sea met Monday at an economic forum hosted by Turkmenistan in a bid to agree on how to divide the region's oil wealth.

BP Considers Shipping Non-Diluent Products on U.S.-Canada Pipeline

BP Midstream Partners is considering shipping other products besides diluent on its 135,000 barrel per day Diamondback pipeline, which helps transport diluent from the United States to Canada, Chief Executive Rip Zinsmeister said on Thursday.

EIA: U.S. Gas, Shale Oil Output to Hit Record in September

U.S. oil output from seven major shale formations is expected to rise by 85,000 bpd in September, to a record 8.77 MMbpd, the U.S. Energy Information Administration forecast in its monthly drilling productivity report on Monday.

Trafigura Begins Shipping Permian Crude via Plains' Cactus II

Trafigura Trading today said it has commenced shipments of crude oil from the Permian Basin to the Corpus Christi, Texas, via the Cactus II Pipeline, marking the first confirmed shipments on Plains All American's newly operational system.

Mexico Looks to Expand Pipelines, Develop Own Reserves

Mexico’s rapid growth of demand for electricity over the last decade happily coincided with burgeoning supplies of cheap shale gas in nearby Texas. This Mexican demand and Texan abundance drove a boom in cross-border pipeline construction which continues to this day.

Pipeline Construction, LNG Terminal Start-Up Delayed in India

Indian natural gas company H-Energy will delay the start of its LNG import terminal at Jaigarh until the fourth quarter, company CEO Darshan Hiranandani, told Reuters.

Energy Transfer in Talks to Build U.S. Gulf Coast Supertanker Crude Export Facility

Energy Transfer LP said on Thursday it was in discussions with potential shippers to build an export facility in Texas capable of handling supertankers, which can transport about 2 million barrels of crude.

U.S. Natural Gas Prices Continue to Drop as Demand Soars

U.S. natural gas demand is at an all-time high and expected to keep rising - and yet, prices are falling.

New U.S. Pipelines Poised to Start Price War for Shale Shippers

The operators of two new pipelines in West Texas shale fields are offering discounted prices to attract shippers accustomed to high fees to move oil to export hubs, according to the pipeline companies and federal filings.

Gazprom Signs Five-Year Natural Gas Deal with Turkmenistan

Gazprom has signed a 5-year contract with Turkmengaz to purchase natural gas, the Russian gas producer sad.