Business & Markets

Saudi Aramco Seeks Financing Advisor for Gas Pipeline Deal

Saudi Aramco has invited banks to pitch for an advisory role to help finance the sale of a significant minority stake in its gas pipelines, the oil giant's second major midstream deal after a $12.4 billion deal for oil pipelines, three sources said.

U.S. Supreme Court Backs PennEast Pipeline in New Jersey Land Dispute

The U.S. Supreme Court on Tuesday ruled in favor of a consortium of energy companies including Enbridge Inc seeking to seize land owned by New Jersey to build a $1 billion natural gas pipeline despite the state's objections.

EU Countries Approve Landmark Climate Change Law

European Union countries on Monday gave the final seal of approval to a law to make the bloc's greenhouse gas emissions targets legally binding, as EU policymakers prepare a huge new package of policies to fight climate change.

European Commission Approves French Support for Natural Gas Storage

France's system of financial support for natural gas storage, set up in 2017 to shore up the country's energy supplies, complies with European Union state aid rules, the European Commission said.

S.Africa, Mozambique State Energy Firms to Increase Shareholding in Gas Pipeline

State-owned energy companies from South Africa and Mozambique have exercised their rights to buy the 30% stake in the ROMPCO natural gas pipeline that Sasol is selling.

Libya’s Civil War Stifling Growth of Pipeline Industry

The prolonged civil war in Libya continues to lock out potential investments in greenfield oil and gas pipeline projects with the National Oil Company. International oil companies are left with the option of investing in repairs and maintenance of existing oil and gas transportation infrastructure.

Germany, U.S. Seek to Resolve Nord Stream 2 Dispute by End August

German Economy Minister Peter Altmaier on Friday said he had a productive meeting with U.S. Energy Secretary Jennifer Granholm, and both countries were committed to resolving a dispute over the Nord Stream 2 pipeline by the end of August.

U.S. Infrastructure Deal Includes $6 Billion Sale from Oil Reserve

The infrastructure deal struck by a group of bipartisan senators and President Joe Biden on Thursday is partially funded by a $6 billion sale from the U.S. emergency oil reserve, according to a document circulated by Republican lawmakers.

Brussels Region to Ban Diesel Cars by 2030, Petrol Cars by 2035

The ban will also apply to vehicles running on compressed-natural gas, liquefied natural gas and hybrids from 2035 in an effort to meet the European Union's carbon neutrality goal by 2050.

First Deepwater Gas Field Fully Run by China Starts Production

The first deepwater gas field fully operated by a Chinese company, Lingshui 17-2, started production on Friday, the country's national offshore producer CNOOC Ltd said.

Southwest Gas Begins RNG Projects to Provide Clean Energy to Customers

Southwest Gas is actively working with RNG developers to interconnect various RNG projects across company service areas with Southwest Gas' facilities. There are four projects in Arizona and one in California that are approved and will take RNG to market shortly.

Perspective: How Vladimir Putin Uses Natural Gas to Exert Russian Influence

The recent U.S.-Russia summit between Presidents Joe Biden and Vladimir Putin suggests that a controversial Russian natural gas pipeline, Nord Stream 2, is a done deal.

Trans Mountain Allowed to Resume Tree Clearing for Oil Pipeline Project

The Canada Energy Regulator this week lifted a stop work order on Trans Mountain Corporation that restricted tree clearing and mowing across the oil pipeline project to protect the environment and migratory birds.

Blinken Says Nord Stream 2 is Russian Project That Undermines Ukraine

U.S. Secretary of State Antony Blinken on Wednesday described the Nord Stream 2 gas pipeline as a Russian geopolitical project that undermines the security of Ukraine, adding the United States wants to ensure Russia does not use energy as a coercive tool against any European state.

Saudi Aramco Extends $10 Billion Loan on Improved Terms, Sources Say

Aramco has borrowed tens of billions of dollars in the past few years to keep up with Saudi Arabia's financing needs in an era of lower oil prices, in addition to a public sale of a minority stake in the company and the recent leasing of some of its pipeline assets for $12.4 billion.

Federal Court Closes Dakota Access Pipeline Case, But Allows for Fresh Challenges

A U.S. district court closed a long-running case against the Dakota Access oil pipeline but allowed for Native American tribes and other opponents of the line to file additional actions against it, court documents showed.

PipeChina Aims for Peak Carbon Emissions Before 2030

China Oil and Gas Pipeline Network, or PipeChina, aims to bring its carbon emission and energy consumption to a peak before 2030, a company manager said.

TECO Peoples Gas, Alliance Diaries Partnering to Bring Florida RNG

TECO Peoples Gas, Florida's largest natural gas distribution utility, has reached an agreement with Alliance Dairies to build, own and operate a renewable natural gas facility on the dairy’s property in Trenton near Gainesville.

Tellurian Applies for New Reduced-Emission Pipeline Project in Louisiana

Tellurian Inc.'s wholly owned subsidiary Driftwood Pipeline submitted a formal application with FERC to construct and operate Line 200 and 300, a 37-mile, dual 42-inch diameter interstate pipeline that will originate near Ragley in Beauregard Parish, Louisiana and end near Carlyss in Calcasieu Parish, Louisiana.

Canada Grimaces Amid Hail of U.S. Trade Blows

Signs of trouble emerged early. Within hours of taking power, Biden revoked the permit needed to build the Keystone XL oil pipeline, killing an $8 billion project that would have brought Canadian crude to U.S. markets.

Gazprom’s Amur Gas Processing Plant Nearing Completion

Gazprom’s Amur Gas Processing Plant project is more than 75% complete following its commissioning ceremony for the first production train earlier this month.

Brazil's Petrobras Disqualifies Excelerate Energy's Bid on LNG Lease

Brazil's state-run oil company Petroleo Brasileiro SA said on Monday that it had disqualified U.S.-based Excelerate Energy LP's bid on a lease for an LNG terminal in northeastern Bahia state.

Australia Rejects $36 Billion Wind, Solar, Hydrogen Project

The Australian government has rejected plans for a $36 billion wind, solar and hydrogen project in a remote area of Western Australia, leaving what would have been one of the world's largest green energy projects in limbo for now.

Magellan, Enterprise Working with Intercontinental Exchange for Houston Crude Oil Futures Contract

Magellan Midstream Partners, Enterprise Products Partners and Intercontinental Exchange announced the establishment of a new futures contract for the physical delivery of crude oil in the Houston area.

Sypris Wins Awards from Two High-Pressure Energy Projects

Sypris Technologies, a subsidiary of Sypris Solutions, recently received orders for specialty high-pressure closures for use in two large projects, the Golden Pass LNG Export project and the Cherry Point Refinery Renewable Diesel Optimization project.

Morocco Targets $1.7 Billion in Non-Phosphate Mining Revenue by 2030

With 72% of global reserves, Morocco is the world's largest phosphates exporter and last year its state-owned phosphates company OCP reported revenue of 56.1 billion dirhams. Morocco is a major producer of renewable energy but also relies on gas imports, including through a pipeline running from natural gas producer Algeria through Morocco to Spain.

Congo Says Israeli Investor Gertler's Oil Permits No Longer Valid

Democratic Republic of Congo said exploration permits from companies controlled by Israeli investor Dan Gertler for two huge oil concessions near the eastern border with Uganda were no longer valid, but the companies said they still held the rights.

Global Energy Infrastructure Collects Data on 1,600+ Hydrogen Projects

There are more than 1,600 hydrogen projects happening globally, including some in research and concept phases and large-scale hydrogen production units, according to data tracked by Global Energy Infrastructure (GEI).

EIG-Led Consortium Closes $12.4 Billion Aramco Pipelines Deal

U.S.-based EIG Global Energy Partners said on Friday a consortium it led has closed a deal to buy 49% of Saudi oil producer Aramco's pipelines business for $12.4 billion.

Brookfield Includes All-Cash Option in Inter Pipeline Offer

Brookfield's revision comes as the investment firm tries to beat a rival bid from Pembina Pipeline Corp, which has been recommended by Inter's board.