Business & Markets
OMV Petrom Accelerates Investments in Black Sea Gas Project, Targets 2027 Production
The Neptun Deep Black Sea gas project, one of the European Union's most significant natural gas deposits, is expected to cost $4.3 billion. OMV Petrom is developing it with state-owned gas producer Romgaz.
Delek's Big Spring Refinery Chosen for $95 Million DOE Carbon Capture Pilot Project
Delek US Holdings said on Friday the U.S. Department of Energy has selected its Big Spring refinery for a pilot carbon capture project and would provide up to $95 million of federal funding to support its development.
QatarEnergy Signs 10-Year Condensate Supply Deal with Japan's Mitsui
QatarEnergy has signed a deal to supply Japan's Mitsui & Co. with 11 million barrels of condensate per year for 10 years starting in April, Qatar's state-owned energy company said on Sunday.
Chevron Exceeds Permian Production Estimates, Signals Growth Potential
After a year marked by oil and gas production setbacks, Chevron Corp. on Friday delivered a better-than-expected 10.7% annual gain from the Permian Basin, its top shale-producing region.
Tanzania's TPDC Doubles Stake in Mnazi Bay Gas Field Deal with Maurel & Prom
The Mnazi Bay gas field, in the Mtwara region of the country's south, has an estimated 641 Bcf of recoverable natural gas reserves and contributes nearly half of the gas used to generate electricity in the East African country.
TotalEnergies to Acquire OMV's Malaysian Gas Assets for $903 Million
TotalEnergies has entered into an agreement with OMV for the acquisition of OMV's 50% interest in SapuraOMV Upstream Sdn, a Malaysian independent gas producer and operator.
Enterprise Products Records 15% Growth in Q4 Crude Pipeline Volumes
U.S. pipeline operator Enterprise Products Partners said on Thursday its crude oil volumes last quarter grew 15% to a record 2.6 million barrels per day, as more oil flowed through its lines despite lower prices.
Exxon Beats Estimates, Closes 2023 with $36 Billion Profit
Exxon Mobil on Friday posted a better-than-expected $36 billion profit for 2023, lifted by fuels trading and higher oil and gas production.
Phillips 66 Beats Profit Estimates on Strong Refining, Midstream Performance
Refiner Phillips 66 beat quarterly profit estimates on Wednesday, helped by strong refining margins and gains from its midstream unit, sending its shares up 2.6% to an all-time high of $146.11.
Canada Regulator Clears Latest Trans Mountain Pipeline Delay of Environmental or Safety Concerns
The Canada Energy Regulator (CER) said on Wednesday that it has not noted any environmental or safety concerns with the latest construction challenges to plague the Trans Mountain pipeline expansion.
Poland's Gaz-System Chooses Mitsui O.S.K. Lines for LNG Regasification Unit
Polish pipeline operator Gaz-System has chosen Japan's Mitsui O.S.K. Lines to supply a floating storage and regasification unit (FSRU), it said on Thursday.
Using Dry Gas Sealing Solutions to Drive Energy Efficiency
Natural gas serves as the transitional fuel between hydrocarbons and renewables. Centrifugal compressors are crucial for efficiently transporting large volumes of natural gas, utilized across various industries from oil and gas to petrochemicals and LNG.
Woodside Urged to Abandon $57 Billion Santos Merger by Major Shareholder
Woodside should walk away from its proposed $57 billion merger with Santos rather than pay a premium for its smaller rival, a large shareholder said on Thursday, a sign of the deep divide between both sides over fair value.
Santos Amends PNG Stake Sale Terms with Papua New Guinea's Kumul Petroleum
Oil and gas giant Santos said on Thursday it had amended the terms of sale of its 2.6% stake in PNG LNG project to Kumul Petroleum, allowing the Papua New Guinea state-owned firm additional time to pay the purchase price.
India Offers LNG Supply to Sri Lanka for Power Plants
India has proposed to supply LNG to Sri Lanka to help the island nation produce power from its Yughadhanavi and Sobhadabavi power plants, Sri Lanka's Energy Minister said on Thursday.
U.S. Official to Testify on Biden's LNG Export Pause at Senate Hearing
A top U.S. Energy Department official will testify at Feb. 8 Senate Energy Committee hearing looking into President Joe Biden's pause on new approvals for LNG exports, the Energy Department said on Thursday.
Silver Hill Energy Partners to Buy Liberty Resources' Bakken Assets
Silver Hill Energy Partners said on Wednesday it would acquire Liberty Resources II's interests in oil and gas properties and all of Liberty Midstream Solutions in North Dakota for an undisclosed amount.
U.S. LNG Exports Decline in January Due to Arctic Freeze, Plant Outages; Europe Dominates Despite Challenges
Cold weather and outages at second-largest exporter Freeport LNG cut U.S. LNG exports last month below the December record, LSEG ship tracking data showed.
Business News February 2024
Association news, personnel changes and mergers and acquisitions in February 2024!
Global News February 2024
Latest industry developments from around the world!
Methane Standards Hit Pipelines More Gently Than Proposed
The Environmental Protection Agency (EPA) issued final methane performance standards for natural gas controllers and compressors, which will require midstream and interstate pipelines to take a new look at their emission controls.
Marathon Petroleum Beats Profit Estimates, Plans Maintenance Slowdown in Q1 2024
Marathon Petroleum beat quarterly profit estimates on Tuesday, supported by strong refined product margins and high refinery utilization rates, but expects to cut back plant activity sharply at the start of this year for maintenance.
Algeria's Sonatrach, Britain's Grain LNG Sign 10-Year LNG Deal
Grain LNG said on Wednesday it had signed a 10-year deal with Sonatrach to extend the Algerian company's long-term storage and redelivery capacity at Europe's largest LNG import terminal beyond January 2029.
Permian Resources Continues Expansion in New Mexico with $175 Million Deals
The company has acquired about 11,500 net leasehold acres and 4,000 net royalty acres located in Eddy County from undisclosed third-parties.
Former Sempra Energy Chief Behind Efforts to Salvage Driftwood LNG Project
U.S. LNG developer Tellurian chose a Lazard Inc. investment banker to right its struggling Driftwood LNG export project, the company's chairman told investors this week.
Phillips 66 Shuts Section of Oklahoma Panhandle Pipeline After Fire
Phillips 66 said it has shut a section of a natural gas pipeline it operates in the Oklahoma Panhandle after fire and rupture that occurred on Tuesday morning.
Oil Producer Hess Tops Profit Estimates on Higher Bakken, Guyana Output
U.S. oil and gas firm Hess beat Wall Street estimates for fourth-quarter profit on Wednesday, helped by higher production in its Bakken shale and Guyana operations.
AG&P LNG Plans 6 South and Southeast Asian Terminals in Next 2 Years
Atlantic Gulf & Pacific Company (AG&P) LNG aims to make a final investment decision (FID) and start developing six liquefied natural gas terminals in South and Southeast Asia within the next one-to-two years, the company's chief executive said.
Environmental Group Unlikely to Challenge Venture Global’s CP2 Construction Permit Approval
Environmentalists are unlikely to challenge in court regulators' expected approval of Venture Global LNG's CP2 export terminal, activist Bill McKibben told Reuters on Tuesday.
Pipeline Operator Enbridge to Cut 650 Jobs Amid Cost Reduction Efforts
North American energy pipeline operator Enbridge said on Tuesday it will cut its workforce by 650 jobs in a bid to cut costs.
- Keystone Oil Pipeline Resumes Operations After Temporary Shutdown
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
- Freeport LNG Plant Runs Near Zero Consumption for Fifth Day
- Enbridge to Invest $500 Million in Pipeline Assets, Including Expansion of 850-Mile Gray Oak Pipeline
- Williams Delays Louisiana Pipeline Project Amid Dispute with Competitor Energy Transfer
- Evacuation Technologies to Reduce Methane Releases During Pigging
- Editor’s Notebook: Nord Stream’s $20 Billion Question
- Enbridge Receives Approval to Begin Service on Louisiana Venice Gas Pipeline Project
- Mexico Seizes Air Liquide's Hydrogen Plant at Pemex Refinery
- Russian LNG Unfazed By U.S. Sanctions
