Business & Markets

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.

Malaysia's Petronas Requests LNG Cargo Deferments, Sources Say

Malaysia's Petronas has requested buyers defer some loadings of LNG from its Bintulu complex due to operational issues at one production train, two industry sources said on Thursday.

Osaka Gas Targets Steady LNG Volume of 11.5 Million Tons by 2030

Japanese city gas provider Osaka Gas aims to maintain annual handling volume of liquefied natural gas at 11.5 million metric tons in the fiscal 2030 year, an executive said on Thursday.

Cheniere's South Texas LNG Project 62% Complete, Ahead of Schedule

The company also added that its Corpus Christi Stage 3 project, an export facility in South Texas, was progressing ahead of schedule, and was 62.4% complete as of June 30.

Energy Transfer Raises 2024 Profit Forecast on Higher Volumes, Acquisitions

Energy Transfer has raised its full year profit forecast after the U.S. pipeline and storage company posted higher second-quarter profit on the back of strong crude and natural gas liquids (NGL) transportation volumes.

NOG to Acquire Additional Uinta Basin Assets for $17.5 Million

Northern Oil and Gas Inc. announced it has exercised its option to acquire a 20% stake in the Altamont Assets in the Uinta Basin. The purchase price is $17.5 million in cash, subject to customary closing adjustments.

Miros Supports Pipeline Installation for Northern Lights CCS Project

Miros has successfully supported the laying of a 109 km (68 miles) pipeline for the pioneering Northern Lights CO2 transport and storage (CCS) project in Norway.

Ukraine Pierces Russian Border Near Major Gas Transmission Hub

Russia said on Wednesday that it was fighting intense battles against Ukrainian forces which had penetrated the Kursk region near a major natural gas transmission hub in one of the largest incursions into Russia since the war began in February 2022.

Osaka Gas, ADNOC Sign Landmark Agreement for Long-Term LNG Supply

Osaka Gas has signed a long-term deal with UAE's ADNOC for the delivery of up to 0.8 million metric tons per annum of liquefied natural gas to secure stable supplies.

U.S. Natural Gas Producers Plan Further Output Cuts as Prices Plummet

Major U.S. natural gas producers are preparing to further curtail production in the second half of 2024, after prices sank nearly 40% over the past two months.

U.S. Court Overturns FERC Approval for NextDecade’s $18 Billion Rio Grande LNG Project

A U.S. court overturned FERC's approval for NextDecade's Rio Grande LNG project due to a missing supplemental environmental impact statement. NextDecade expressed disappointment and disagreed with the ruling.

J-Power Teams Up with Australian Firms on Carbon Capture

Through the partnership, the three companies aim to commercialize a project to capture carbon dioxide (CO2) emitted in Japan, Australia and the surrounding region and store it in Australia, they said in a statement.

Bernhard Capital Acquires New Mexico Gas Company from Emera for $1.252 Billion

Emera acquired NMGC as part of its purchase of the TECO group of companies in 2016. NMGC is the largest natural gas utility in New Mexico, serving over 545,000 customers and managing more than 12,000 miles of pipelines.