Business & Markets
Enterprise Products Launches Texas Western Products System, Expanding Fuel Operations
Enterprise Products Partners L.P. has announced that the first phase of its Texas Western Products System (TW Products System) is now in service with the start of truck loading operations at the company’s new Permian terminal in Gaines County, Texas.
EQT and Equitrans Midstream to Merge in $5.5 Billion Natural Gas Deal
EQT Corp., the leading U.S. natural gas producer, is set to acquire Equitrans Midstream in a deal valued at $5.5 billion. The merger will bolster cost-effective production and transportation of natural gas by incorporating over 2,000 miles of pipeline infrastructure into EQT's operations.
Williams Secures Nearly $1 Million for Carbon Storage Research in Wyoming
Oklahoma-based pipeline operator Williams Cos. has been awarded $975,000 in funding to study carbon capture and storage initiatives in Wyoming.
CNOOC Discovers 100 Million Ton Oilfield in South China Sea
Chinese state-owned oil and gas giant CNOOC Ltd. has discovered a new reserve in the South China Sea containing over 100 million tons of oil equivalent proved in-place, the company said in a statement on Friday.
U.S. Coast Guard Investigates Oil Spill Off Huntington Beach, California Coast
The U.S. Coast Guard on Friday were trying to identify the source of an oil spill off the coast of Huntington beach, California, the agency said.
Shell, Edison Urge U.S. Regulators to Reject Venture Global LNG's Permit Extension Request
Italian utility Edison and Shell on Friday asked U.S. energy regulators to reject Venture Global LNG's request for a one-year construction permit extension to its Louisiana export plant.
Chevron's CEO Faces High-Stakes Battle Over Hess Acquisition
Chevron CEO Michael Wirth is facing a head-to-head match with Exxon Mobil with his $53 billion bid for Hess and its stake in oil hotspot Guyana, and could wind up trapped in a dispute between two of South America’s biggest energy rivals.
BP's Carbon Emissions Increase in 2023, Ending Decline Since 2019
BP said on Friday its overall carbon emissions climbed in 2023 for the first time since 2019 as the company started up new oil and gas projects and increased its production levels.
Keystone Oil Pipeline Resumes Operations After Temporary Shutdown
TC Energy's Keystone oil pipeline resumed service on Thursday after going offline and temporarily restricting a major conduit of Canadian oil to the United States, which sent oil prices higher.
Enbridge Completes Acquisition of EOG from Dominion Energy, Expanding Gas Utility Portfolio
Enbridge Inc. announced the closing of its acquisition of The East Ohio Gas Company (EOG) from Dominion Energy, Inc. The gas utility will be doing business as Enbridge Gas Ohio and will join Enbridge's Gas Distribution and Storage Business Unit.
Citgo's Quarterly Net Profit Plummets 81% on Plant Outages, Margin Decline
Venezuela-owned oil refiner Citgo Petroleum on Thursday reported fourth quarter net profit fell 81% to $154 million, from $806 million a year ago, on plant outages and weaker margins.
TC Energy's Keystone Oil Pipeline Offline Due to Operational Issues
TC Energy's Keystone oil pipeline went offline due to operational issues, sources said on Thursday, cutting off a major conduit of Canadian oil to the United States and sending oil prices higher.
U.S. Democrats Urge Antitrust Probe into Oil, Gas Mergers
Nearly 50 Democrats in the U.S. Congress on Wednesday urged the Federal Trade Commission to probe oil and gas company deals and expand current investigations to protect consumers and industry competition.
AG&P LNG Acquires 49% Stake in Vietnam's Cai Mep LNG Terminal
Singapore-based Atlantic, Gulf and Pacific LNG (AG&P), a unit of U.S. investment and development firm Nebula Energy, has acquired a 49% stake in Vietnam's Cai Mep LNG terminal, it said in a statement on Thursday.
Argentina's YPF to Invest $3 Billion in Shale, Eyes LNG Facility Expansion in 2024
Argentina's national oil company YPF on Thursday said it would invest $3 billion of a $5 billion capital spending plan this year in shale, as it looks to generate more cash by exiting some major conventional fields.
Hess Reassesses Chevron's $53 Billion Merger Timeline Amid Exxon's Bid
U.S. oil producer Hess said on Thursday it was reviewing the timeline for closing its merger with Chevron, after oil major Exxon Mobil signaled a potential counter offer for Hess's Guyana assets.
U.S. Natural Gas Prices Steady Ahead of Federal Storage Report
U.S. natural gas futures were little changed on Thursday as the market waited for direction from a federal report expected to show a much smaller-than-usual storage withdrawal last week when warmer-than-normal weather kept heating demand low.
Turkey Inks Oil and Gas Cooperation Pact with Somalia
Turkey signed an offshore oil and natural gas cooperation deal with Somalia on Thursday, the Turkish Energy Ministry said, further strengthening bilateral ties after agreeing a defense deal last month.
IEA Forecasts Well-Supplied Oil Market in 2024 Despite Demand Slowdown
The global oil market is relatively well supplied with demand growth slowing, while supply is increasing from the Americas, the head of the International Energy Agency's (IEA) oil markets and industry division told Reuters on Thursday.
Santos Faces Fresh Legal Setback Over $2.4 Billion Narrabri Gas Project
The decision returns the project to the uncertainty of a legal dispute months after Santos won a court battle allowing it to resume pipeline construction at its Barossa gas project.
Xcel Energy Says Its Facilities Likely Started Texas Fire, Faces Negligence Allegations
The Minneapolis-based utility, which provides power and natural gas to parts of Texas and seven other U.S. states, disputed "claims that it acted negligently in maintaining and operating its infrastructure."
U.S. to Acquire 3 Million Barrels of Oil for Emergency Reserve in September
The U.S. is seeking to buy about 3 million barrels of oil for the Strategic Petroleum Reserve for delivery in September, the Energy Department said on Wednesday, as it slowly replenishes the emergency stash after selling a record amount in 2022.
TC Energy Announces Layoffs in Houston, Calgary as Part of Pipeline Unit Integration Plan
Canadian oil and gas pipeline firm TC Energy said on Wednesday it has laid off some of its workers as part of a previously announced plan to integrate its natural gas pipeline units.
Mexico's Pemex, Billionaire Investor Carlos Slim Discuss Reviving Deepwater Gas Project
Mexican state energy company Pemex and billionaire investor Carlos Slim's team are discussing ways to revive development of the country's first deepwater natural gas field that was shelved twice before, two sources told Reuters.
Exxon Challenges Hess's Guyana Asset Sale, Signals Potential Bid
Exxon Mobil Corp. on Wednesday said it filed a contract arbitration disputing Hess Corp.'s proposed sale of its Guyana oil properties and suggested it may counter Chevron Corp.'s pending deal for the assets.
Montfort in Talks to Sell UAE Fuel Oil Facility to Sinopec
Geneva-based trading house Montfort Group is in discussion to sell part or all of its refining facility in the United Arab Emirates to the fuel oil arm of Chinese state giant Sinopec Corp., at least five industry sources told Reuters.
Tullow Oil Reports Loss in 2023, Aims for Operational Improvements Beyond 2025
Tullow Oil swung into a loss in 2023 after cutting the value of reserves in one of its West African oilfields, as its chief executive said the company would consider shareholder returns after 2025.
Turkish Oil Terminal Stops Accepting Russian Imports Amid U.S. Sanctions Pressure
One of Turkey's mid-sized Mediterranean oil terminals - the Dortyol terminal - will no longer accept Russian imports after receiving record volumes last year, amid an increase in sanctions pressure by the United States.
Saudi Aramco, UAE's ADNOC in Talks for Investments in U.S. LNG Projects
Gulf oil giants Saudi Aramco and Abu Dhabi National Oil Company (ADNOC) are in talks to invest in U.S. liquefied natural gas projects, as they step up competition with oil majors and regional rival Qatar in the booming super-chilled gas market, sources aware of the matter said.
Enbridge to Invest $500 Million in Pipeline Assets, Including Expansion of 850-Mile Gray Oak Pipeline
Pipeline operator Enbridge raised its short-term profit growth forecast on Wednesday and said it will invest about $500 million in expanding its pipeline and storage assets to improve its U.S. Gulf Coast presence.
- 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
