Business & Markets

BP Drills Appraisal Well in Texas for Carbon Capture and Storage

BP has begun drilling an appraisal well in Texas for its U.S. carbon capture and sequestration business, an executive said on Monday.

Oil Falls as Druzhba Pipeline Resumes Flows, US Stocks Build

Oil prices fell on Wednesday as flows on the Russia-to-Europe Druzhba pipeline resumed and after U.S. crude stocks rose far more than anticipated.

Caspian Pipeline Consortium Says Oil Supplies Significantly Down

Oil

Caspian Pipeline Consortium, which connects Kazakh oil fields with the Russian Black Sea port of Novorossiisk, reported last week that supplies were significantly down, without providing figures.

Oil Prices Fluctuate on Russian Pipeline Constraints, Recession Fears

Oil prices see-sawed on Tuesday, as worries that a slowing economy could cut demand vied with news that some oil exports had been suspended on the Russia-to-Europe Druzhba pipeline that transits Ukraine.

Conceding to Manchin, US Climate Bill Eases Methane Fees on Oil Industry

The U.S. Senate climate bill’s fee on oil and gas industry methane emissions will cover less than half the sector’s releases of the greenhouse gas, thanks to concessions made to win over party holdout Joe Manchin, according to a review of the legislation and interviews with lawmakers that negotiated it.

Centrica Strikes $8.5 Billion LNG Deal with US Supplier Delfin Midstream

Centrica has signed a 15-year, $8.47 billion deal with U.S.-based Delfin Midstream to purchase 1 million tonnes of LNG per annum from the Delfin Deepwater Port offshore Louisiana from 2026.

US Coast Guard Responds to Oil Spill in Terrebonne Bay, Louisiana

The U.S. Coast Guard said on Monday it was responding to an oil spill at the Hilcorp Caillou Island facility in Terrebonne Bay, Louisiana.

Governor: Third Oil Storage Tank Collapses in Cuba Terminal Following Fire, Spill

A third crude tank caught fire and collapsed at Cuba's main oil terminal in Matanzas, its governor said on Monday, as an oil spill spread flames from a second tank that caught fire two days earlier in the island's biggest oil industry accident in decades.

Advent Technologies, DEPA Commercial Collaborate to Develop Greece’s Hydrogen Economy

Advent Technologies Holdings Inc. has signed a memorandum of understanding with DEPA Commercial, the leading importer of pipeline gas and LNG in Greece, to collaborate on hydrogen projects of common interest.

Williams, PennEnergy Ink Deal to Market Certified Low-Emission Natural Gas

Williams and PennEnergy Resources LLC have entered into an agreement to support the marketing and delivery of certified, low-emission natural gas, the companies announced on Monday.

Saipem Enters Negotiations to End Arctic LNG 2 Project Contracts

Saipem is in talks to end two contracts related to Russia's $21-billion Arctic LNG 2 project led by Moscow-listed gas producer Novatek, the Italian energy services group said in its interim financial statement.

Shell Defers Prelude LNG Turnaround Due to Industrial Action

Shell Plc said on Monday it is deferring planned maintenance work at the Prelude floating LNG facility that was due to go ahead in September because of industrial action at the site off northwest Australia.

CapturePoint, Energy Transfer to Evaluate Haynesville Carbon Capture Project

CapturePoint Solutions LLC has signed a letter of intent with Energy Transfer to participate in a feasibility study to capture CO2 emissions from natural gas production facilities in the Haynesville shale.

Eni Acquires Floating Liquefaction Facility to Produce LNG in Congo Republic

Energy group Eni said on Friday it had acquired Tango FLNG to produce and export LNG from the Republic of Congo, as Italy rushes to find alternative supplies to Russian gas.

TC Energy, Mexican Utility Sign Deal to Build $4.5 Billion Gas Pipeline

TC Energy Corp. said on Thursday it had struck a deal with a Mexican state utility to develop a $4.5 billion natural gas pipeline. The offshore Southeast Gateway Pipeline will supply natural gas to Mexico's central and southeast regions, the Canadian pipeline operator added.

Energy Transfer Reports Pipeline Leak from Last Month in Louisiana

Energy pipeline operator Energy Transfer LP has disclosed a pipeline rupture in Louisiana last month that released 8.2 million cubic feet of natural gas, according to a report filed with the U.S. National Response Center.

NFE, Plug Power Partner to Build 120 MW Green Hydrogen Plant on Gulf Coast

New Fortress Energy Inc. has entered an agreement with Plug Power Inc., a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, to build a 120-megawatt (MW) industrial-scale green hydrogen plant near Beaumont, Texas.

Cheniere Posts Q2 Profit on Strong LNG Demand

Cheniere Energy Inc., the largest U.S. liquefied natural gas (LNG) exporter, reported a second-quarter profit on Thursday, and raised its full-year outlook, boosted by demand from buyers seeking to replace gas from Russia.

Enterprise to Build Two Natural Gas Plants, Expand Shin Oak Pipeline System in Permian

Enterprise Products Partners LP has unveiled plans to build two natural gas processing plants and expand the Shin Oak natural gas liquid pipeline system in the Permian Basin to further support ongoing production growth in the basin.

Sunbridge Energy Services Launches Natural Gas Compression Station in Permian Basin

Helping to meet Permian operators’ emission reduction goals, the company’s natural gas compression station will come online on Aug. 31 in the North Midland Basin with a capacity of 50 million cubic feet per day.

Tellurian Reports 47% Increase in Natural Gas Production for Q2 2022

Tellurian said on Wednesday that the company generated $61.3 million in revenues from natural gas sales on an increase of production of approximately 47% in Q2, ending the quarter with $823 million of cash on hand.

Brightmark, Chevron Deliver First Gas at Athena Project

Brightmark RNG Holdings LLC and Chevron Corp. on Wednesday said the partnership has achieved the first delivery of renewable natural gas produced at the Athena Project in Minnehaha County, South Dakota.

Enterprise Reports Record Natural Gas Pipeline Volumes for Q2 2022

U.S. midstream energy company Enterprise Products Partners LP on Wednesday said its natural gas pipeline volumes reached a record level in the second quarter of 2022.

US Emergency Crude Stockpile Falls to Lowest in 37 Years

The U.S. emergency crude oil stockpile fell by 4.6 million barrels last week to its lowest level since May 1985, according to the Department of Energy on Monday.

Magellan's Permian-Houston Crude Pipelines Volumes Drop

Volumes on Magellan's 450-mile (724-km) Longhorn crude oil pipeline from West Texas to Houston averaged about 200,000 barrels per day (bbl/d) in the three months ended June 30 compared with 260,000 bbl/d in the same period last year.

US Senate Bill Could Deal Significant Blow to Biden’s Anti-Drilling Pledge

U.S. President Joe Biden's vow to end federal oil and gas drilling could be axed by a $430 billion spending bill proposed by U.S. Senate Democrats. If it passes, it would effectively guarantee continued drilling rights auctions on federal lands and waters for at least another decade.

Sakhalin Energy Asks LNG Buyers to Pay Via Moscow Bank

Russia's Sakhalin Energy Investment Co. has asked its LNG customers to pay for supplies via a Moscow unit of a European bank, a source familiar with the matter told Reuters on Friday.

Italy's Eni Expects to Replace Russian Gas by 2025

Italian energy group Eni believes it will be able to completely replace Russian gas imports by 2025 as uncertainty over Moscow's energy supplies to Europe forces countries to seek alternative sources.

Enbridge Set to Invest $1.5 Billion in Pacific Energy's Woodfibre LNG Project

Canada's Enbridge Inc. said on Friday it will invest $1.5 billion in the joint construction and operation of the Woodfibre LNG project and also said it will spend an additional $2.1 billion on new projects, including expansions of its British Columbia and Texas gas pipeline systems.

CapturePoint Submits Proposal to Build Carbon Capture Facility in Louisiana

Privately-backed CapturePoint LLC has applied to build a carbon capture storage facility in Rapides Parish, Louisiana, roughly 90 miles north of Lafayette, according to a filing with the Environmental Protection Agency.