Business & Markets

U.S. Appeals Court Strikes Down Controversial Biden Pipeline Safety Rules

A U.S. appeals court on Friday tossed out several natural gas pipeline safety standards adopted by President Joe Biden's administration following industry criticism about the massive costs on pipeline operators.

Texas Oil Billionaire, Endeavor Energy Founder Autry Stephens Dies at 86

Autry Stephens, the billionaire founder and chairman of Endeavor Energy Resources, died at age 86 after a prolonged battle with cancer, the company disclosed on Friday.

Texas RRC Levies Over $2 Million in Penalties for Oil, Gas Violations

The Railroad Commission of Texas (RRC) has imposed more than $2 million in fines on operators and businesses for violations within the state's oil and gas industry.

Spain’s Cepsa Sells Iberian Gas Unit for $302 Million to Empresas Copec

Spain's second-largest oil company Cepsa has agreed to sell its liquefied gas division Gasib in Spain and Portugal to a unit of Chile's Empresas Copec for $302.42 million, the companies said on Friday.

Pipeline Repair Technology Slashes CO2 Emissions by 95%

Innovative new technology used to isolate gas pipelines in need of repair or maintenance has shown to prevent gas leakages and cut carbon dioxide emissions by 95% compared with venting pipeline contents to atmosphere – the equivalent of switching off 1,760 gas boilers for a year or taking 1,000 cars off the road

Shaping the Future: Strategies for Attracting, Training, and Retaining Energy Sector Talent

Data associated with workforce development is not for the faint of heart. The angst it can cause is especially real for those connected to the energy industry: employers, labor partners, contractors, educators, workforce systems and other stakeholders.

North Dakota Oil Production Drops Again in June, Hits 1.18 Million bbl/d

North Dakota's oil production fell by 22,500 barrels per day (bbl/d) in June to an estimated 1.176 million bbl/d, the state's Pipeline Authority said on Thursday, marking a second straight monthly decline.

Tennessee Pipeline Gets Initial FERC Approval

FERC has given a preliminary green light to East Tennessee Natural Gas to build 122 miles of 30-inch-diameter natural gas pipeline, providing about 300,000 dekatherms per day of firm natural gas transportation to the Tennessee Valley Authority’s Kingston Fossil Plant.

Brazos Midstream Nears Completion of 175-Mile Gas Pipeline in Midland Basin

The pipeline network covers several counties including Ector, Howard, and Midland, and will connect to 10 compressor stations. Once this phase is completed, Brazos will manage around 260 miles of gathering pipelines in the Midland Basin.

U.S. to Purchase Oil Through 2025 After Massive 2022 Drawdown

The U.S. is slowly replenishing the Strategic Petroleum Reserve, planning to buy back millions of barrels of oil for delivery in the first several months of next year, after the largest ever sale from the stockpile in 2022.

Harris Walks Fine Line on Energy, Keeping Voters and Industry Guessing

Is she the climate and anti-pollution warrior who was attorney general of California? Or the pragmatic Number Two in the Democratic Biden administration that oversaw record U.S. oil production and exports.

NextDecade to Appeal Court Ruling Overturning Rio Grande LNG Project Approval

U.S. liquefied natural gas developer NextDecade said it will appeal a court ruling that overturned federal approval for its $18 billion Rio Grande LNG project and warned loss of its permits could prevent access to its loans.

BP Tells Regulators Venture Global's LNG Plant Doesn't Need More Time to Start Production

Oil and gas producer BP Plc told federal regulators on Wednesday that it has reviewed confidential commissioning documents and does not believe Venture Global LNG needs more time to begin commercial production.

BW LPG Buys 12 Gas Carriers from Avance Gas for $1.05 Billion

BW LPG said on Thursday it had agreed to buy 12 Very Large Gas Carriers (VLGC) from Avance Gas for $1.05 billion.

Corrosion Control: Options for Combating Damage Due to Black Powder in Pipelines

Black powder (BP) is an industry name for the abrasive, reactive particulate contamination present in all gas and hydrocarbon fluid transmission lines. Black powder ranges from light brown to black, and the mineral makeup varies per production field around the world.

Germany Issues Arrest Warrant for Ukrainian in Nord Stream Pipeline Attack, But Suspect Has Fled, Officials Say

Poland received a European arrest warrant issued by Berlin in connection with the 2022 attack on Nord Stream pipelines, but the suspect, a Ukrainian man named as Volodymyr Z, has already left Poland, Polish prosecutors told Reuters.

Edge Architecture Under Siege: Essential Cybersecurity Strategies for Oil and Gas Leaders

Join our expert panel on August 29, 2024, at 10 a.m. CDT to explore crucial strategies for enhancing cybersecurity in edge architectures. Learn how to prepare for and respond to cyberattacks in the oil and gas sector. Register now to secure your spot!

Libya’s Waha Oil Loses 115,000 bbl/d Due to Pipeline Maintenance

Libya's Waha oil company's production was reduced by 115,000 barrels per day due to maintenance on the pipeline pumping oil from the Waha field to Es Sider port, a company source told Reuters on Wednesday.

Swan Energy to Sell $399 Million Stake in LNG Terminal to Turkish Firm

Indian oil and gas firm Swan Energy plans to sell a stake in one of its LNG terminals to Turkish state energy company BOTAS in a deal worth $399 million, it said in an exchange filing on Wednesday.

Nigerian Army Destroys 27 Illegal Refineries, Seizes 100,000 Liters of Stolen Oil

Nigerian army troops have destroyed at least 27 illicit refining sites and seized stolen crude oil following raids this week on illegal oil bunkering sites in the Niger River delta, an army spokesperson said on Wednesday.

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.