Business & Markets

Canadian Producer Raises Budget as Alberta Bottlenecks Ease

Canadian oil producer Cenovus Energy Inc said on Tuesday it would spend nearly a quarter more in 2020, after the province of Alberta lifted some curtailments on new oil wells last month.

EPIC Midstream Loads First Oil Tanker at New Texas Export Terminal

EPIC Midstream loaded its first oil tanker at its new Texas export terminal and plans to open another dock in the third quarter of 2020, benefiting from rising demand for low-sulfur U.S. crude, EPIC President Brian Freed said.

Ironwood Midstream II Completes Acquisition of Twin Eagle Systems

Ironwood Midstream Energy Partners II said it has closed on its acquisition of West Texas gathering pipelines from a subsidiary of Twin Eagle Holdings and named a Twin Eagle executive to its management team and board of directors.

No Major Impacts on Lake Superior Found from Line 3 Pipeline

An updated environmental review released by a state agency Monday found no serious threat to Lake Superior if crude oil ever leaked from a new pipeline to replace Enbridge Energy's aging Line 3 across northern Minnesota.

Canadian Pacific Crude Train Derails, Catches Fire in Saskatchewan

A Canadian Pacific Railway train hauling crude oil derailed west of Guernsey, Saskatchewan, causing a fire at around midnight local time, railway and police officials said on Monday.

Enterprise, Enbridge to Develop Gulf of Mexico Crude Export Terminal

Enterprise Products Partners and Enbridge Inc have agreed to jointly develop a U.S. Gulf Coast crude export terminal that would load supertankers off Freeport, Texas, Enbridge said on Monday.

MET Energy Holding Plans Billion-Euro M&A Deals in Europe

Swiss-based MET Energy plans to expand rapidly in Europe over the next three years via acquisitions worth at least 1 billion euros ($1.10 billion) once a deal with Singapore conglomerate Keppel Corporation is finalized next month, MET's CEO said on Monday.

Polish Experts Seek Evidence in Gas Blast that Killed 8

Investigators in southern Poland said they are questioning witnesses and gathering evidence in their probe into a gas blast that killed eight members of one family, including four children.

Belarus Seeks $70 Million Compensation for Russian Tainted Oil

Belarus is seeking about $70 million in compensation because of disruption in flows in a pipeline on its territory caused by contaminated Russian oil, state news agency Belta reported on Sunday.

Russia, Belarus Closer to Resolving Supply, Pipeline Issues: Moscow

Russia and Belarus, who have yet to resolve a dispute over contamination of an oil pipeline, are closer to resolving their differences on oil and gas supplies, Russia's economy minister said Saturday after talks between the two countries.

Asian LNG Buyers Target Record Low Prices in Contract Talks

Asian LNG buyers are starting talks with producers to renew long-term contracts due to expire over the next few years, aiming to secure all-time low prices in deals likely to set new industry benchmarks.

OPEC Talks End Without Word on Expected Cuts

The countries that make up the OPEC oil-producing cartel ended talks late Thursday without an announcement on possible deep cuts to production that would support the price of fuel around the world.

Oil Pipeline Explosion Kills 1 in Lagos

An oil pipeline explosion reportedly killed one person in Nigeria's capital, Lagos.

Saskatchewan's Oil Lures Investors, Producers from Troubled Alberta

Alberta's congested pipelines and production limits are turning oil companies to neighboring Saskatchewan, driving up prices for drilling rights as the region weathers a deep slump.

Libya's El Feel Oilfield Shut Due to Valve Closure

Libya's El Feel oilfield has been shut down due to a valve closure, the head of the National Oil Corporation said on Thursday, in the second stoppage at the southwestern field in consecutive weeks.

Kinder Morgan Expects Slight Profit Increase in 2020

U.S. pipeline operator Kinder Morgan on Thursday said it expects core earnings to increase slightly next year and signaled it would move to cut its debt load and increase its dividend.

Alder Midstream Announces New Initiatives

Alder Midstream (Alder), owned and operated by Glenfarne Group, has announced several new initiatives focused on building, owning and operating midstream assets in the U.S.

Construction Advances on Trans Mountain Pipeline Ahead of Court Hearing

Expansion of Canada's Trans Mountain oil pipeline entered a new phase of construction Tuesday, just two weeks before a court hearing to decide whether the government can complete the project.

Engie Brazil Wants to Buy Remaining Stake in TAG — CEO

Engie Brazil's CEO says the company is looking to buy the government out of its 10% stake in TAG.

Transneft Extends Oil Transit Deal with Ukraine's Ukrtransnafta

Ukrainian pipeline operator Ukrtransnafta said it has agreed to a 10-year oil transit extension with Russia’s Transneft.

Enbridge Starts Service on Canadian Section of Line 3

Enbridge has begun commercial operation of the Canadian section of its Line 3 pipeline, even as it continues to navigate Minnesota regulators for the U.S. portion of the $9 billion replacement project.

U.S. Crude Output Rises to Record 12.5 Million Bpd in September — EIA

U.S. crude oil production in September rose 66,000 bpd to a new record of 12.46 million bpd, up from 12.397 million bpd in August, the U.S. government said in a monthly report on Friday.

State Sponsored Qatari LNG Projects Could Hurt North American Projects

Proposed North American LNG export projects may face an uphill battle against Qatar, which announced plans to further ramp up production to hold onto its position as the world’s leading LNG exporter.

Billion-Dollar LNG Project in Southern Mozambique Expected in 2020

A final investment decision on a $3.15 billion liquefied natural gas (LNG) project near Mozambique’s capital will be taken around the middle of 2020, France’s Total and its partners in the project said on Wednesday.

Hungary Ready to Discuss New Gas Supply Deal with Gazprom — Minister

Hungary is ready to start talks with Russia’s Gazprom about a new long-term gas supply deal, Hungary’s Foreign Ministry said on Monday.

Turkey, Azerbaijan Mark Completion of TANAP Pipeline

Turkey and Azerbaijan formally marked the completion of the Trans-Anatolian Natural Gas Pipeline (TANAP) on Saturday, a milestone in a major project to help reduce Europe’s dependence on Russian gas.

Power of Siberia Natural Gas Pipeline Officially Begins Flows

Russian President Vladimir Putin and his Chinese counterpart Xi Jinping officially launched the Power of Siberia pipeline on Monday that will transport natural gas from Siberia to northeast China.

Seaway to Begin Open Season

Seaway Crude Pipeline Company LLC has announced a binding open season for committed service on expansion capacity of its existing system originating in Cushing, Oklahoma and extending to the Texas Gulf Coast.

MOL Purchases Stake in ACG Oil Field, BTC Pipeline

MOL Group has agreed to purchase a stake in the ACG oil field in Azerbaijan and a stake in the BTC pipeline for $1.57 billion adding 20,000 bpd to the companies net production.

Egypt Signs $430-million Natural Gas Deal With Noble Energy

Egypt said on Saturday it had signed a $430-million deal for Texas-based Noble Energy to pump natural gas through the East Mediterranean Gas Company's pipeline.