Business & Markets

Argentina’s YPF Begins Building Vaca Muerta Oil Pipeline

The initial phase will run from Añelo in Neuquén to Allen in Río Negro, connecting with the Oldelval system, Argentina's largest oil pipeline network. This project aims to enhance the oil transportation system in the Neuquén basin, significantly boosting transport capacity to refineries and the port of Bahía Blanca.

Brazil’s Petrobras To Retain Gas Pipeline Following Landmark CADE Reversal

This decision allows the state-owned oil giant to keep five oil refineries and the Transportadora Brasileira Gasoduto Bolívia-Brasil (TBG) gas pipeline operator, which it had been ordered to sell under a 2019 agreement intended to address its market dominance.

Asian LNG Prices Rise Amid Firm Demand, Geopolitical Concerns

The average LNG price for July delivery into north-east Asia rose to $12.30 per million British thermal units (mmBtu), its highest level since mid-December and up from $10.90/mmBtu in the previous week, industry sources estimated.

Donald Trump Raises ‘Tens Of Millions’ On Promises Of Oil And Gas Pipelines, Fracking Support

Republican presidential candidate Donald Trump raised tens of millions of dollars during a fundraising swing through Texas this week, promising he would support the oil and gas industry by backing new pipelines and restoring fracking on federal land.

Polish, Russian Pipeline Operators Agree On Solution To Keep Oil Flowing To Germany

PERN, Russia's state-controlled Transneft and Germany's PCK Schwedt refinery agreed that a non-Russian company will service the oil flow meters on the Polish part of the Druzhba pipeline, sources in Poland, Germany and Russia said.

ExxonMobil Faces October 2024 Deadline To Develop ‘Large’ Natural Gas Discovery Offshore Guyana

The government has been pressing for a bonanza from mostly untapped gas reserves found by the Exxon-led group. The consortium, which includes Hess Corp and CNOOC Ltd, is required under its production agreement to return to the government by October about 20% of its massive Stabroek block if that area remains undeveloped.

Australia’s Natural Gas Industry Seeks to Restore Investments Following ‘Damaging’ Policies

While most executives at the Australian Energy Producers Conference in Perth were broadly in favour of the Australia Future Gas strategy unveiled by the government this month, they called for immediate action and improvements to the policy to avoid new gas supply shortfalls.

Conduit Power and Riley Permian Expand Partnership for ERCOT Power Sales

Plans include the construction of 100MW natural gas-fueled generation and battery energy storage systems across multiple West Texas facilities, slated for commercial operations by 2025.

XCMG's Advanced Drilling Rig Overcomes Challenges in Serbia's Gas Pipeline Project

XCMG's advanced drilling rig, the XZ3600, triumphs in Serbia's gas pipeline project, conquering tough terrain and hard soil layers with ease.

Spain's Repsol Gets U.S. License to Expand Venezuela Oil, Gas Projects - Sources

Spain's Repsol has received a license from the U.S. Treasury Department authorizing the energy company to continue and expand its oil and gas business in Venezuela, sources close to the decision said on Thursday.

Why the U.S. Gulf Coast is Ideal for Clean Hydrogen Production

The Gulf Coast currently produces 3.5 million tons of hydrogen per year, accounting for a third of all hydrogen produced in the United States. As a major oil and gas region, the Gulf Coast has the largest hydrogen pipeline network in the country, spanning over a thousand miles.

Hess-Chevron Merger Vote Expected to Be Narrowly Approved

Hess Corp. CEO John Hess has until Tuesday to quell a rebellion by shareholders over his handling of what could turn out to be one of the largest mergers in oil industry history: a proposed $53 billion sale of the oil producer to Chevron Corp.

U.S. LNG Export Pause Creates Opportunities for Middle East Producers, Says Woodside CEO

A moratorium on new U.S. LNG export projects could open up opportunities for producers in the Middle East and Russia, but Western sanctions are curbing Moscow's ambitions to expand its global gas trade, a senior industry official said.

OMV Warns Gazprom May Halt Gas Supplies

Austrian oil and gas group OMV said on Wednesday that gas supplies from Russia's Gazprom may be suspended in connection with a foreign court ruling, without identifying the case but assuring the market it would have replacement cover.

Petronas' Bintulu LNG Facility Fully Operational After Power Disruption

Malaysian state-run Petronas said on Thursday its LNG complex in Bintulu was fully restored on Sunday, more than a week after a power loss incident disrupted normal operations.

National Grid to Sell Europe's Largest LNG Terminal

British energy infrastructure operator National Grid said on Thursday it is looking to sell its Grain LNG terminal in Britain, Europe's largest such facility, in a bid to streamline operations.

Canada Amends Trans Mountain Ownership Regulations to Facilitate Pipeline Sale to Indigenous Groups

Canada is amending regulations on how it manages the state-owned Trans Mountain oil pipeline in order to facilitate its sale to Indigenous groups, according to an official government notice published on Wednesday.

U.S. to Close Northeast Gasoline Reserve with 1 Million-Barrel Sale

President Joe Biden's administration will sell nearly 1 million barrels of gasoline in the U.S.-managed stockpile in northeastern states as required by law, the Department of Energy said on Tuesday, effectively closing the near decade-old reserve.

Youth Climate Lawsuit Targets Alaska LNG Project

Eight young Alaska residents sued the state on Wednesday seeking to block a major natural gas project, the latest in a string of climate-change related lawsuits by youths arguing that government policies promoting fossil fuels violate their rights.

Mexican Developer Seeks Permit to Export U.S. Gas for LNG Production

Mexico-based Gato Negro Permitium Uno and partners including Houston-based Big River Energy plan to construct four LNG processing plants in Manzanillo on Mexico's Pacific coast to produce up to 4 MTPA of LNG, the company said.

Mountain Valley Pipeline Expects WV-VA Natural Gas Pipe in Service by Early June

U.S. natural gas pipeline venture Mountain Valley Pipeline pushed back the target in-service date of its long-delayed pipe from West Virginia to Virginia to early June from the prior target of "prior to June 1".

Piñon Midstream Boosts Sour Gas Capacity by 50% in Delaware Basin

Piñon Midstream has announced a significant increase in its sour gas treating capacity and an expansion of its infrastructure in the Delaware Basin.

ADNOC Buys 10% Stake in Mozambique LNG Project

ADNOC has acquired Galp’s 10% interest in the Area 4 concession of Mozambique’s Rovuma basin. This move is part of ADNOC’s strategy to expand its international presence and its lower-carbon LNG portfolio.

Kinder Morgan Acquires Texas Oilfield to Leverage Carbon Tax Credits, Sources Say

U.S. pipeline operator Kinder Morgan has acquired oil and gas producing assets in West Texas and is planning to tap U.S. carbon capture incentives to increase output from the properties, according to people familiar with the matter.

Oil Executives Host Trump Fundraiser in Houston Amidst Fossil Fuel Policy Debate

The luncheon, which will be held at Houston’s Post Oak Hotel, is hosted by Harold Hamm, founder of Continental Resources; Kelcy Warren, executive chairman of Energy Transfer Partners; and Vicki Hollub, CEO of Occidental Petroleum, according to the invitation.

Saudi Crown Prince Assures Japan of Stable Oil Supply Amid Postponed Visit

The crown prince told Kishida that "Saudi Arabia remains committed to the stable supply of crude oil to Japan and that Saudi Arabia would like to cooperate with Japan in other areas including the field of clean energy," it said.

Argentina's Oil Output Hits Record High with YPF's New Pipeline Launch

Argentina's oil production in the key province of Neuquen reached a record high in April, driven by increased activity in the huge Vaca Muerta shale formation, the local government said on Tuesday, edging up to around 390,326 barrels per day.

Challenges to Growth Remain Key Story in Appalachian Basin

The Marcellus Shale and Point Pleasant-Utica Shale formations of the Appalachian Basin contain an estimated mean of 214 Tcf of undiscovered, technically recoverable continuous resources of natural gas, according to the United States Geological Survey.

Hydrogen Blending Study Underway in British Columbia

DNV is executing hydrogen blending feasibility studies for Enbridge and FortisBC Energy. The two individual studies will determine the percentage of hydrogen that can be safely transported through existing natural gas pipeline infrastructure.

RWE Gas Storage West Launches Inquiry for Hydrogen Storage Demand

RWE Gas Storage West has initiated a preliminary market survey, inviting hydrogen producers, users, industrial firms, and traders to register their future hydrogen storage requirements until June 2024.