Business & Markets

Canadian Natural Sets New Emission Goals After Profit Beat

Canadian Natural said it is now targeting 50% reduction in methane emissions from its North America exploration and production business by 2030, from baseline of 2016.

BP Pipelines Offers to Acquire BP Midstream Partners

The board of directors of the general partner of BPMP received a non-binding offer from BP Pipelines to acquire all of the outstanding common units of BPMP held by the public in exchange.

Senator Introduces Bill Amendment in Hopes of Restarting Keystone XL

U.S. Senator Marsha Blackburn introduced an amendment to the $1 trillion infrastructure bill that could result in restarting the Keystone Pipeline, her office announced.

Making Digital Transformation a Reality

Unlocking the value of process data through digital transformation not only offers oil and gas operators huge benefits, but it is also an essential step for businesses to remain efficient and competitive in the future.

Pioneer Natural Resources Warns of Tepid Shale Growth in Coming Years

Pioneer Natural Resources Co.'s top executive said that U.S. shale growth was "not going to grow that much" in the coming years, as oil and gas companies continue to focus on capital discipline and shareholder returns.

Plains All American Boosts Earnings Outlook as Fuel Demand Recovers

Plains All American Pipeline LP raised its forecast for 2021 adjusted core income, as the oil and gas sector benefits from easing travel curbs and a recovering economy firing up fuel demand.

Pipeline Operator Enbridge Posts Drop in Quarterly Profit

Enbridge Inc. said its quarterly profit fell sequentially, as the Canadian pipeline operator transported lower volumes of fuel on its Mainline system.

Ivory Coast to Build 200 MW LNG Plant, Says Energy Minister

Ivory Coast is in talks to build a 200-megawatt power plant fueled by LNG as it seeks to avoid outages that rocked the country earlier this year, Mines and Energy Minister Thomas Camara said on Tuesday.

Riding the Oil Price Rebound: Gulf States to Accelerate Asset Sales

Saudi Aramco and other Gulf oil producers are following in the footsteps of Abu Dhabi with plans to raise tens of billions of dollars through sales of stakes in energy assets, capitalizing on a rebound in crude prices to attract foreign investors.

Neptune Energy Installs World’s Longest ETH Production Pipeline

Neptune Energy announced the installation and testing of the world’s longest trace-heated subsea production pipeline at its operated Fenja field in the Norwegian sea. The 37-kilometre (23-mile) electrically trace-heated pipe-in-pipe solution will transport oil from the field to the Njord A platform, operated by Equinor.

HollyFrontier, Pipeline Unit to Buy Sinclair Oil in $2.6 Billion Deal

HollyFrontier Corp and its pipeline partner will buy almost all of Sinclair Oil's assets in two deals totaling around $2.6 billion, the companies said, adding new refining, pipeline and storage assets to their portfolio.

Perspective: IEA’s Roadmap Shows Difficult Journey to Net Zero

Polarized responses to the International Energy Agency report on achieving net zero emissions by 2050 reveal the enormous challenges of the goal and differences about whether it is realistic in the timeframe.

Cross Carbon Ventures Announces Formation of Carbon Capture Development Partnership

CCV will leverage Svante’s innovative technology to capture carbon directly from industrial post-combustion flue gases to produce pipeline-grade CO2 for safe transportation and storage.

Texas Intrastate Whistler Pipeline Placed in Service

The Whistler Pipeline began full commercial service last month, providing approximately 2.0 Bcf/d of incremental natural gas transport capacity to the Texas Gulf Coast markets from the Permian basin, which will help ensure sufficient reliable gas takeaway and reduce natural gas flaring in the Permian basin.

U.S. Oil & Gas Rig Count Falls for First Week in Eight -Baker Hughes

U.S. energy firms cut the number of oil and natural gas rigs operating for the first time in eight weeks amid an industry stampede to reward investors with share buybacks instead of boosting production.

Entergy Seeks to Build NatGas/Hydrogen Power Plant in Texas

U.S. electric company Entergy Corp wants to build a power plant in Texas capable of burning a combination of natural gas and hydrogen as more consumers seek to transition from dirty fossil fuels to carbon-free sources of energy.

Pipeline Operator Enbridge Beats Profit Estimates as Oil Volumes Rebound

Canadian pipeline operator Enbridge Inc reported second-quarter profit which beat expectations on Friday, as oil volumes transported on its Mainline system rose from a year ago due to a rebound in fuel demand.

Enbridge Gets OK to Return TETCO NatGas Pipe to Full Service

Enbridge Inc said federal pipeline safety regulators gave its Texas Eastern Transmission unit permission to return the Pennsylvania to Mississippi natural gas pipeline back to full pressure following a two-month reduction.

TC Energy to Switch to Green Power to Run N. American Energy Pipelines

Canadian pipeline operator TC Energy Corp could spend billions of dollars on its plans to lower emissions by switching to renewable energy to run its huge network of U.S. and Canadian oil and gas pipelines.

MDU Resources Planning $75 million NatGas Pipeline Expansion in North Dakota

To fulfill additional customer demand, WBI Energy plans to construct a 60-mile, 12-inch natural gas pipeline expansion and ancillary facilities to Wahpeton. The expansion will have capacity of 20 million cubic feet of natural gas per day and is expected to cost approximately $75 million.

Mexican Methane Leak Rate 'Alarming' for Climate Change, Report Says

To blame for Mexico's poor record are mostly high emissions at midstream facilities that gather, compress, and process the gas, the report says. Other culprits are venting and flaring.

Enterprise Products Oil Pipeline Volume Rises on Demand Recovery

Enterprise Products Partners said on Wednesday volume across its crude oil pipelines rose 5% in the second quarter on the back of a recovery in demand as the global economy continues to reopen following COVID-19 lockdowns.

Wintershall Dea Says Europe Needs More Gas from All Sources

Oil and gas producer Wintershall Dea, which has a 70% gas portfolio, said Europe needed multi-sourced gas to support decarbonization away from coal and to create a platform for future hydrogen production from carbon-free energy.

Spire Seeks U.S. Backing for Missouri NatGas Pipeline to Avoid Outages

U.S. natural gas company Spire Inc's Spire STL Pipeline unit filed an emergency application with U.S. energy regulators to keep the STL gas pipeline in service ahead of this winter to avoid gas service outages in St. Louis.

FERC to Hear Total NatGas Manipulation Case by Aug. 2022

The case, which has already dragged on for years, is the biggest of FERC's ongoing disputes over alleged power and gas market manipulation, some of which started over a decade ago.

Perspective: Why Green Hydrogen — Not Grey — Could Help Solve Climate Change

Green hydrogen is more expensive to produce, but it can be manufactured with zero emissions using renewable electricity to split water into oxygen and hydrogen. Globally, less than 2% of hydrogen is produced this way.

Polish PGNiG Ends LNG Deal Over U.S. Texas Port Arthur Delays

PGNiG has terminated a deal with U.S. firm Sempra Energy for LNG supplies from the Texas Port Arthur project due to delays, Poland's biggest gas company said on Tuesday.

Gazprom to Pay 349 million Euros in Advance to Use Bulgarian Pipeline

Russia's state gas company Gazprom has agreed to pay 349 million euros ($412 million) in advance for capacity on the Bulgarian extension of the TurkStream gas pipeline, Bulgarian state network operator Bulgartransgaz said.

Enagas First-Half Net Profit Falls on Lower Fees in Spain

Spanish gas grid operator Enagas said its first-half net profit fell 9.8% to 213 million euros ($251.28 million) after a change of regulations in 2020 forced it to charge lower fees in Spain.

Mozambique President Nyusi Says Army Gaining Ground in Insurgency-Hit Region

Nyusi was addressing the nation on the crisis that was triggered when the insurgents in March attacked the coastal town of Palma, near natural gas projects worth $60 billion that are meant to transform Mozambique's economy.