Business & Markets

Energy Transfer Expects $2.4 Billion Boost from Winter Storm

Energy Transfer LP expects to gain roughly $2.4 billion from Winter Storm Uri, which knocked out power and halted the distribution of natural gas in Texas to homes and businesses, company executives said.

Enbridge to Keep Great Lakes Pipeline Running, Defy Looming Michigan Shutdown Order

Canada's Enbridge Inc will continue to operate its Line 5 despite an order from the U.S. state of Michigan to shut down the crude oil pipeline next week, Chief Executive Al Monaco said.

TC Energy Posts C$1 Billion Quarterly Loss on Keystone XL Suspension

Canadian pipeline operator TC Energy on Friday swung to a loss in the first quarter, hit by C$2.2 billion ($1.81 billion) impairment charges related to the suspension of its Keystone XL pipeline project.

EQT Announces $2.9 Billion Acquisition of Alta Resources' Upstream, Midstream Subsidiaries

EQT Corporation announced Thursday it entered into a purchase agreement with Alta Resources Development for EQT to acquire all of the membership interests in Alta's upstream and midstream subsidiaries for about $2.925 billion.

Enhancing Safety with Integrated Rupture Disk Assemblies

For decades, rupture disks have served the oil and gas industry as an effective, passive safety mechanism to protect against overpressure or potentially damaging vacuum conditions.

Results Show Billions in Profit from Texas Freeze for Gas and Power Sellers

Natural gas suppliers, pipeline companies and banks that trade commodities have emerged as the biggest market winners from February's U.S. winter blast that roiled gas and power markets, according to more than two dozen interviews and quarterly earnings reports.

Brazil's Petrobras Reopens Bidding for Golfinho Oilfields

Brazilian state-run oil company Petrobras has reopened bidding for its Golfinho offshore oilfield cluster following a rise in crude prices over the last several months.

Saudi Aramco Seeks $7.5 Billion Loan for Pipeline Investors

In late 2019, struggling Saudi Aramco (Aramco), the world’s largest oil company, completed the biggest initial public offering of shares to raise $25.6 billion, with additional shares sold, bringing the total raised to a hefty $29.4 billion.

Texas Legislature passes bills to support fossil fuel industries

House Bill 17 protects consumers by prohibiting political subdivisions from discriminating against specific fuel sources like natural gas and coal; this will ensure cities and counties cannot pass California-style ordinances that ban gas hook-ups in new buildings or homes.

Galaxy Pipelines Look to Expand Gas Pipeline Network in Abu Dhabi

Despite climate change, and uncertain futures for both demand and supply, some financial investors have become enthusiastic about gas pipelines.

Total and Papua New Guinea Government Remobilizing, Planning Papua LNG Project

France-based oil company Total and the government of Papa New Guinea announced the remobilization of the Papua LNG project after a year of delay caused by the Covid-19 pandemic.

Australia's Origin Locks in Domestic Gas Supply Tied to Asian LNG Price

Origin has also lined up extra pipeline capacity under a three-year deal with APA Group starting in 2023, which will allow the company to transport large amounts of gas to southern markets where it is needed.

Plains Raises Pipeline Transportation Earnings Forecast as Costs Decline

Plains All American Pipeline LP raised its forecast for 2021 transportation segment earnings, as lower operating costs helped offset a decline in volumes shipped on its pipelines.

EXPLAINER: The Dakota Access Pipeline Faces Possible Closure

A U.S. court could order the Dakota Access Pipeline (DAPL) shut in coming weeks, disrupting deliveries of crude oil, and making nearby rail traffic more congested.

US Federal Land Policy Still Leaves Room for Winning Hands

State energy officials have been laser-focused on the Biden administration’s suspension of new oil and gas leasing on federal lands because it could eventually curtail Bakken production by more than 100,000 bpd.

Oil and Gas Investor EnCap Raises $1.2 Billion Energy Transition Fund

EnCap Investments said on Tuesday it has closed a $1.2 billion fund dedicated to investments in the burgeoning energy transition space, the first time the private-equity firm has raised money specifically for clean energy.

Energinet and Gasunie Studying Feasibility of Hydrogen Pipeline Infrastructure

Energinet and Gasunie published a technical pre-feasibility study for transporting hydrogen via a 350-450 km (217-279 mi) pipeline from Esbjerg or Holstebro in Denmark to Hamburg in Germany.

Australia Backs Three 'Green' Hydrogen Projects with More Than A$100 Million

Australia said it had awarded A$103 million ($80 million) to back three 'green' hydrogen projects, hiking its planned funding by almost 50% as the government seeks to speed up commercial production of the gas using renewable resources.

LNG Cargoes Diverted from India as COVID Crisis Dampens Demand

LNG cargoes are being diverted away from ports in India as surging coronavirus cases there hamper domestic gas demand, trade and shipping sources said on Monday.

Enterprise Products Oil Pipeline Volumes Drop Amid Winter Storms

Enterprise Products Partners LP said volumes across its pipelines dropped by 13% in the first quarter as producers and refiners were hit by winter storms, causing damage to facilities and disrupting shipments.

Winter Storms Hit Phillips 66 Partners' Q1 Pipeline Volumes

The amount of oil and gas shipped on Phillips 66 Partners LP pipelines fell about 6% in the first quarter as winter storms disrupted service and the COVID-19 health crisis continued to hamper fuel demand.

BNSF Can Handle More Crude-by-Rail Shipments if Dakota Pipeline is Shut, Railroad Says

BNSF, the railroad unit of Warren Buffett's Berkshire Hathaway Inc, is prepared to handle any increase in rail traffic if the Dakota Access oil pipeline (DAPL) is shut due to an ongoing legal dispute, the company told Reuters.

Forties Oil Work to Drive Drop in June Brent Benchmark Supply

The North Sea Forties crude oil stream will load only two cargoes in June, a copy of the shipment schedule showed, reducing supply of the crude that underpins the global Brent benchmark.

Dakota Access Pipeline Seeking Supreme Court Review in Fight to Keep Line Open

Dakota Access oil pipeline's operators plan to ask the U.S. Supreme Court to intervene in its ongoing legal battle to keep the 570,000 barrel-per-day line open, according to a court filing on Thursday.

Continental Resources Ramping Up Bakken Operations, Adds Rigs to Powder River Basin

Shale oil producer Continental Resources on Thursday said it will ramp up activity in North Dakota's Bakken shale field this year as it shifts more of its production operations to crude oil from natural gas.

CenterPoint to Sell Arkansas, Oklahoma Gas Utilities for $2.15 Billion

U.S. electricity provider CenterPoint Energy Inc said on Thursday it has agreed to sell its natural gas utility businesses in Arkansas and Oklahoma to privately-held Summit Utilities for $2.15 billion in cash.

Indonesia to Stop LPG and Fuel Imports by 2030

Indonesia will stop both liquefied petroleum gas and fuel imports by 2030 and plans big changes to its energy infrastructure to meet that target, a top energy official said.

Brazil's Petrobras Sells Stake in NTS Gas Pipeline Network

Brazil's state-owned oil company Petroleo Brasileiro SA has approved the sale of its remaining 10% stake in the NTS gas pipeline network for 1.8 billion reais ($337 million) to Brookfield and Itausa SA.

Marcellus, Utica Ready to Pick Up Where They Left Off

Cautious optimism appears to be the name of the game for operators and others associated with the Marcellus and Utica Shales, according to representatives of key coalitions in the regions.

Suncor, Svante Accelerating CO2 Capture Efforts in North America

Suncor and Svante signed an equity financing agreement, providing the latter with the additional growth capital to accelerate its second-generation CO2 capture technology in North America.