Business & Markets

Finland's Gasum Procures LNG Cargo for Inkoo Terminal from SEFE

Finnish energy firm Gasum said on Wednesday it is delivering a U.S. cargo of LNG it procured from Germany's SEFE LNG to the Inkoo floating storage regasification unit (FSRU).

Galp to Join BP and Shell in Formal Complaint Against LNG Exporter Venture Global

Portugal oil and gas firm Galp has asked U.S. regulators to allow it to join BP and Shell's formal complaints against U.S. liquefied natural gas (LNG) exporter Venture Global LNG, a filing showed on Tuesday.

Saudi Arabia Tries to Thread the Needle Between Crude Output, Prices

Saudi Aramco's decision to cut the price of its crude for Asian customers shows just how difficult it is for the world's largest oil exporter to walk the line between maintaining market share and restraining output enough to bolster prices.

Exxon Faces Hurdles in $2.5 Billion Exit from California Offshore

Exxon Mobil's write-down of about $2.5 billion of troubled California properties aims to end five decades of offshore oil production in the state, but a full exit from those assets could take some time.

EIA: U.S. Energy-Related CO2 Emissions to Remain Unchanged in 2024

U.S. energy-related carbon dioxide (CO2) emissions are expected to remain unchanged in 2024, as increased natural gas and petroleum emissions offset decreased coal emissions, the Energy Information Administration said in a monthly report on Tuesday.

Trans Mountain Oil Pipeline Modification Request Heads to Friday Regulatory Hearing

The Canada Energy Regulator (CER) will conduct a hearing on Friday about Trans Mountain Corp.'s request for a change in construction to complete expansion of its oil pipeline from Alberta to British Columbia, according to a filing on Monday.

Kyushu Electric Considers Investment in U.S. Lake Charles LNG Project for Future Procurement Plans

Kyushu Electric Power is considering investing in the U.S. Lake Charles liquefied natural gas (LNG) project of Energy Transfer, among other projects, to secure a stable supply of the fuel, a company spokesperson said on Tuesday.

Texas Explosion Likely Caused by Gas Leak Injures 21

At least 21 people were injured Monday in an apparent gas leak explosion at the Sandman Hotel in downtown Fort Worth, Texas, the city's fire department said.

German Gas Storage Operators Warn of Overblown Plans for Hydrogen Grids

Germany's future hydrogen demand could fall well short of the baseline the country is assuming in its plans to extend its gas network to carry the fuel, a study commissioned by a storage operators' group showed on Thursday.

Iran's Oil Trade with China Stalls as Tehran Demands Higher Prices

China's oil trade with Iran has stalled as Tehran withholds shipments and demands higher prices from its top client, tightening cheap supply for the world's biggest crude importer, refinery and trade sources said.

Nigeria's Dangote Refinery Set for Test Runs After Getting More Crude

Nigeria's Dangote oil refinery could begin test runs as early as this week after receiving a sixth crude cargo on Monday, company officials said, finally bringing the 650,000 barrels per day plant to life after years of construction delays.

Swiss Fossil Fuel Group Closes First Sale of Paris Agreement Carbon Offsets

A Thai electric bus operator said on Monday it had sold the first carbon offsets under a new system created by the Paris Agreement to a Swiss fossil fuel group, a major landmark for putting into action the eight-year-old United Nations climate accord.

U.S. Supreme Court Rejects Exxon's Bid to Move Minnesota Climate Lawsuit to Federal Court

The U.S. Supreme Court on Monday declined to hear a bid by major fossil fuel companies and an industry trade group to move a lawsuit filed by Minnesota accusing them of worsening climate change out of state court and into federal court, the energy industry's favored venue.

Constellation's Everett LNG Plant Receives Trinidad Delivery Despite Declining U.S. Gas Imports

U.S. energy group Constellation Energy's Everett LNG import plant in Massachusetts took delivery of LNG from Trinidad over the weekend.

Shell Signs 20-Year LNG Deal with Ksi Lisims LNG in Canada

Energy major Shell has entered into a deal to buy 2 million tonnes of liquefied natural gas per year from the Ksi Lisims LNG, partners in the Canadian project said on Monday.

Trans Mountain Pipeline Expansion Nears 95% Completion, Set to Triple Crude Oil Capacity

Work on Canada’s Trans Mountain Pipeline expansion project is reportedly over 95% complete. When it comes onstream, the expansion will nearly triple the pipeline’s current 300,000 barrels per day (b/d) capacity.

Southwestern, Chesapeake Energy Near $17 Billion Merger, Poised to Form U.S. Natural Gas Powerhouse

U.S. natural gas producer Chesapeake Energy and peer Southwestern Energy are nearing a merger that would create a nearly $17 billion company. The deal could come together as soon as next week, provided the talks do not fall apart.

Motiva Enterprises Initiates 45-Day Overhaul, Temporarily Shuts CDU, Coker at Largest U.S. Refinery

Motiva Enterprises is scheduled to shut the large crude distillation unit (CDU) and large coker at its 626,000 barrel-per-day (bpd) Port Arthur, Texas, refinery by Monday, people familiar with the company’s plans said on Friday.

Cedar LNG Taps Samsung, Black & Veatch for EPC Contract

The Haisla Nation and Pembina Pipeline Corp. have selected Samsung Heavy Industries and Black & Veatch to provide engineering, procurement and construction for the design, fabrication and delivery of the project's floating LNG production unit.

India's GAIL Signs 10-Year LNG Purchase Deal with Vitol

State-run GAIL (India) Ltd. has signed a 10-year LNG import deal with trader Vitol to buy about 1 million metric tons per year (tpy) of the super-chilled fuel from 2026.

Nigeria's Top Court Says Shell's Appeal Should Be Heard After Oil Spill Claim

Nigeria's Supreme Court on Friday ruled that Shell should be granted a hearing over an alleged oil spill in the Niger Delta after the Court of Appeal halted an asset sale and ordered a judgement claim to be paid prior to hearing its case.

U.S. Approves $189 Million Loan for Real-Time Methane Monitoring in Key Oil-Producing Basins

Houston-based Long Path Technologies will use the loan to deploy its Emissions Overwatch System across 24,000 square miles (62,160 square km) in several states. The technology uses lasers - placed on 50-foot (15-meter) towers - to monitor areas for methane leaks.

Mexico's Newest Olmeca Oil Refinery Projected to Process 243,000 bpd in 2024

Mexican state oil company Pemex's top executive estimated on Thursday that the firm's newest refinery will process 243,000 barrels per day (bpd) of crude in 2024 during its first year of operations, before ramping up to near full capacity in 2025.

Biden Administration Slowly Puts Oil Back into the SPR Emergency Stash

The administration of President Joe Biden is slowly putting oil back into the Strategic Petroleum Reserve, after selling a record amount from the emergency stockpile in 2022.

U.S. Natural Gas Producers Navigate Production Cuts and Demand Rebound in 2024

The longer natural gas prices stay lower in 2024 and drilling and related activity pulled back, the market could overshoot to both the downside and upside next year as it seeks to find an equilibrium, EQT's financial head Jeremy Knop said.

TotalEnergies Appoints Expert to Evaluate Land Acquisition for Uganda, Tanzania Pipeline Projects

CEO Patrick Pouyanné has tasked Lionel Zinsou, a recognized expert in African economic development, with evaluating the land acquisition program conducted in Uganda and Tanzania as part of the Tilenga and EACOP (East African Crude Oil Pipeline) projects.

U.S. DOT Invests Nearly $15 Million to Improve Pipeline Safety

The U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration (PHMSA) is awarding $14.8 million in grants to fund projects and activities to improve pipeline safety.

Shell Backs BP in Fight Over Venture Global LNG Exports

Shell has joined BP in its battle against Venture Global LNG, accusing the LNG producer of denying it and other customers access to supplies while exporting more than $18 billion worth of the superchilled gas, according to a filing with U.S. regulators.

EOG President: U.S. Oil and Gas Production Growth to Slow in 2024

U.S. oil and gas production will not continue to grow this year at the pace that it did in 2023, U.S. shale producer EOG Resources President Lloyd Helms said on Thursday.

APA to Acquire Rival Callon Petroleum in $4.5 Billion Deal

U.S. oil producer APA said on Thursday it was buying rival Callon Petroleum in an all-stock transaction valued at $4.5 billion including debt, following on the heels of a record year for dealmaking in the largest U.S. shale field.