Business & Markets
Maverick Natural Resources Explores $3 Billion Sale, Sources Say
The Houston-based exploration and production company, which is owned by energy-focused investment firm EIG, is working with investment bankers at Jefferies on the sale process, the sources said, requesting anonymity as the discussions are confidential.
Texas Oil Regulator Faces Scrutiny as "Zombie" Wells Reemerge
On a sprawling ranch in Pecos County in late July, oil well control specialist Hawk Dunlap used a backhoe to uncover an abandoned or so-called zombie well that had sprung back to life despite being plugged just over a year earlier, hissing gas and bubbling toxic water into the dry Texas dirt.
UK Court Rules Approval for BP-Backed Gas-Fired Power Station Was Lawful
Britain's approval of a new gas-fired power station backed by BP was lawful, London's High Court ruled on Wednesday, dismissing a legal challenge over the project.
Russian Court Freezes $1.2 Billion in Linde UK Assets Over Gas Processing Dispute
A Russian court has ordered that assets worth around $1.15 billion of a British subsidiary of German industrial gases company Linde be frozen in a dispute over a gas processing plant, court filings showed on Wednesday.
Karpowership Unveils $1 Billion LNG-to-Power Project to Boost South African Energy Grid
Karpowership has revealed plans to invest $1 billion in LNG-to-power infrastructure. This project, based in Mozambique, aims to provide reliable electricity to the South African Power Pool (SAPP), benefiting up to 5 million people.
CPP Investments Acquires $843 Million Stake in Private Midstream Firm Tallgrass Energy
Based in Denver, Colorado, Tallgrass is a leading infrastructure company operating a network of more than 10,000 miles of pipeline assets across 14 states in the U.S.
Oil Investors Slash Positions to Record Low Amid Global Market Turmoil: Kemp
Investors cut their petroleum positions to the lowest level for at least a decade early last week, part of a broad-based retreat from risk amid rising concerns over a global economic slowdown.
Exxon Reports 59 Layoffs to Texas Workforce Commission After Pioneer Acquisition
Exxon Mobil issued a layoff notice to 59 employees as part of its workforce reshuffle following its $60 billion acquisition of Pioneer Natural Resources, according to a filing with the Texas Workforce Commission.
Ukraine Approves $20 Billion Plan to Boost Renewable Energy to 27% by 2030
Ukraine will need $20 billion in investments to develop its renewable power sector under a plan which seeks to boost its share in the country's energy mix to 27% by 2030, the government said on Tuesday.
Alabama Town to Begin $2.8 Million Natural Gas Pipeline Project with Infrastructure Funds
Cordova, Alabama, will kick off a major natural gas pipeline replacement project with a groundbreaking ceremony on August 20.
U.S. Shale Boosts Output with Fewer Rigs, Defying Post-Merger Slowdown
Greater operating efficiencies in the top U.S. shale patch are squeezing out more oil without higher spending, according to the latest output numbers, which will boost global oil market supplies as OPEC also plans to unwind its output cuts later in the year.
Gran Tierra Reports Fifth Oil Discovery in Ecuador with Charapa-B6 Well
Gran Tierra Energy Inc. has announced its fifth oil discovery in Ecuador with the successful drilling of the Charapa-B6 well on the Charapa block.
Navigator Gas, Bumi Armada, Bluestreak CO2 Partner with Uniper for UK CO2 Export Study
This partnership aims to establish a comprehensive CO2 value chain, including shuttle tankers and storage units, to transport and store captured CO2 from Uniper’s Grain site.
U.S. Gulf Coast to Host Major Clean Ammonia Production Project with New Investment
The $2.5 million investment aims to establish an industrial-scale hybrid blue and green ammonia facility in Texas. The plant is expected to produce 1.4 million metric tonnes of ultra-low carbon ammonia annually.
McDermott Wins EPCI Contract for Gas Project Offshore Trinidad and Tobago
McDermott has been awarded an EPCI contract by Shell Trinidad and Tobago Ltd. for the Manatee gas field development project, located 60 miles (100 kilometers) off the southeast coast of Trinidad and Tobago.
Corrosion Control: Enhancing Protection for Tanks and Pipelines with VCIs
Vapor corrosion inhibitors (VCIs) offer a complementary solution to traditional corrosion protection methods, enhancing the defense of tanks, pipelines, and insulated surfaces in hard-to-reach areas.
LaBella Associates Acquires Process Pipeline Services, Enhancing Natural Gas Capabilities
LaBella Associates announced that it has acquired Process Pipeline Services Inc. (PPS), a provider of engineering, design and consultation services focused on the natural gas industry.
Occidental Puts CrownRock Expansion on Hold, Targets Debt Cut
Occidental Petroleum said it will focus on cutting debt and catching up with promised production goals before an eagerly anticipated expansion of its cash distribution program.
U.S. to Buy 6 Million Barrels of Oil for SPR, Building on 5 Million Bought Last Month
The U.S. is seeking to buy another 6 million barrels of oil from energy companies to help replenish the Strategic Petroleum Reserve (SPR), the Department of Energy said on Monday.
End of an Era? Russian Gas Flow to Europe via Ukraine in Question
Russia continues to supply gas to Europe through Ukraine, despite the war and shifting energy dynamics. With the transit deal ending in 2024, the future of these gas flows remains uncertain.
Chevron Achieves Industry First with Ultra-High Pressure Oil Field in Gulf of Mexico
At its peak, the floating platform will pump up to 75,000 barrels of oil and 28 million cubic feet of natural gas a day. The field is about 140 miles (225 km) off the coast of Louisiana.
Mexico's New Government to Encourage Pemex Partnerships with Private Oil Firms, Sources Say
Mexico's incoming government will encourage state oil producer Pemex to seek equity partnerships with private oil companies, a model out of favor with the current president, in a bid to boost reserves amid towering debt, according to four sources familiar with the matter.
Dangote Refinery Urges Nigeria to Enforce Crude Supply Law for Local Refiners
The Dangote Oil Refinery has called on Nigeria's upstream oil regulator to force producers to abide by a law that stipulates they supply local refineries, saying that lax enforcement was raising its operational costs.
Iran Pushes Oil Exports to New Destinations, Including Bangladesh and Oman
Iran has sent small shipments of crude oil to new destinations such as Bangladesh and Oman, according to shipping sources and data, the latest sign of Tehran pushing to sustain output at close to its highest in five years.
Citgo Posts $25 Million Q2 Loss Amid Unfavorable Market Conditions, Refinery Maintenance
Citgo Petroleum has reported a net loss of $25 million in the second quarter following unfavorable market conditions and refinery maintenance and upgrades, compared with income of $410 million in the quarter immediately prior.
Cheniere Untroubled by LNG Project Setbacks, Cites Strong Regulatory Strategy
Cheniere Energy's CEO, Jack Fusco, stated that the company is not concerned about recent U.S. court rulings that halted other LNG export projects. Fusco highlighted that Cheniere has no ongoing court cases affecting its current operations and is meticulous in adhering to regulatory processes.
Woodside's $1.2 Billion Bid for Tellurian Likely Unchallenged, Sources Say
Woodside Energy which agreed last month to buy Tellurian, the developer of a fully-permitted U.S. LNG project, for $1.2 billion including debt is unlikely to face a rival bid, people close the deal said.
Golden Pass LNG Project Delay to Impact Global Gas Markets During Intense Growth Period
The six-month delay to the Golden Pass LNG project in Texas will remove a significant amount of new supply during a period of intense growth, shifting the surge from 2026 to 2027. This will impact both global and North American gas markets, according to Wood Mackenzie.
Gazprom's Gas Transit Through Ukraine Continues Amid Reported Clashes Near Sudzha
The Ukrainian transit operator said on Wednesday that Russian natural gas continued to transit Ukraine as normal despite reports of clashes near the Russian town of Sudzha where Russian gas flows into Ukraine.
EnLink Midstream Approves Major Capacity Increase at Louisiana Gas Storage Facility
The Stage 1 expansion, which leverages existing assets at JISH, is expected to cost approximately $85 million and will increase the facility’s working gas storage from 2 Bcf to 10 Bcf.
- Texas Waha Hub Gas Prices Plunge to Record Lows, Hit Negative Territory
- U.S. Appeals Court Strikes Down Controversial Biden Pipeline Safety Rules
- Williams Seeks Emergency Certificate to Operate $1 Billion Mid-Atlantic Gas Pipeline After Court Reversal
- Texas Oil Pipelines Near Max Capacity, Threatening Future Export Limits
- Energy Transfer Subsidiary Selects KTJV for Lake Charles LNG Export Project
- Saudi Arabia Looking to Expand Pipeline to Reduce Oil Exports via Gulf
- Report: Houston Region Poised to Become a Global Clean Hydrogen Hub
- Texas Startup Endeavors Again to Build First Major U.S. Oil Refinery Since 1977
- Germany Issues Arrest Warrant for Ukrainian in Nord Stream Pipeline Attack, But Suspect Has Fled, Officials Say
- TC Energy Completes $1.14 Billion Sale of Portland Natural Gas Transmission System
