Business & Markets

Phillips 66 Warns U.S. Winter Storm Pushing First-quarter Loss Past Forecast

U.S. refiner Phillips 66 on Monday predicted that its first-quarter loss would be larger than expected, citing the severe winter cold snap that battered its U.S. Gulf Coast petrochemical operations.

Exxon Sues Energy Transfer Over Charges From Pipeline Dispute

Exxon Mobil Corp’s XTO Energy shale unit filed a breach of contract lawsuit against Energy Transfer LP over disputed payments for the Dakota Access Pipeline, according to a Texas state court filing.

Democrats Asking Biden to Shut Down Dakota Access Pipeline

A group of 33 Democratic congress members are named on a letter to President Joe Biden asking him to shut down the Dakota Access Pipeline while it undergoes a court-mandated environmental review.

Midcoast Energy Completes CJ Express Pipeline Expansion

Texas-based Midcoast Energy completed its CJ Express pipeline expansion project, and it is now in service, the subsidiary announced.

Construction of Cuxtal Gas Pipeline to Boost Yucatan Economy

The start-up of the Cuxtal 1 gas pipeline represents a key infrastructure project aimed at satisfying the demand for energy in this region of Mexico, which is currently growing at twice the national average: 4.1% versus 2.6%.

U.S. LNG Export Bonanza Reshapes Energy Map in Asia

U.S. exports of LNG to China, Japan and South Korea, the biggest importers of the fuel, have surged to record highs in recent months as the heavily industrialized region recovers from the COVID-19 pandemic, Eikon trade data shows.

Energy Transfer, Centurion Pipeline Agree on Crude Oil Transportation

Energy Transfer and Centurion Pipeline announced they will post a joint tariff for crude oil transportation service from ET’s terminals in Platteville, Colorado and Cushing, Oklahoma to ET’s Nederland, Texas terminal.

Pony Express Pipeline Announces Open Season for Transportation

Tallgrass Pony Express Pipeline, a subsidiary of Tallgrass Energy, announced a binding open season soliciting shipper commitments for crude oil transportation.

German Gas Grids Report Progress with Investment Plans, Pipeline Expansions

German gas pipeline companies have completed 28 out of 201 measures planned between 2020 and 2030, keeping them on track to provide capacity expansions and conversions for increased imports this decade.

Investors Renew Push for EU Methane Emissions Standard on Gas

A group representing European investors managing 36 trillion euros ($42.3 trillion) in assets renewed pressure on the European Commission to introduce mandatory methane emissions standards for natural gas.

Industry Group Says Biden’s Infrastructure Plan Misses Opportunity for Pipelines

U.S. President Joe Biden plans to pay for his $2 trillion infrastructure plan with higher corporate taxes, which is facing criticism from Republicans and industry support groups including the American Petroleum Institute who say it will kill jobs.

Denmark’s Orsted Plans Wind Farm, Hydrogen Plant

The proposed plant at the North Sea Port straddling the Dutch-Belgian border is supported by a group of companies that will also pursue an expansion of local pipelines to handle the hydrogen.

Hundreds Attend Successful Virtual Pipeline Opportunities Conference

Hundreds of pipeline industry professionals attended the 17th Annual Pipeline Opportunities Conference online Tuesday to learn about pressing issues and new developments within the industry.

Certarus, RNG Moovers Agree on Delivery of Renewable Natural Gas

Certarus will be responsible for the delivery of renewable natural gas (RNG) from several dairy farms in California to gas pipeline injection points, where it will help to meet the growing demand for lower carbon intensity fuel.

Russia's Transneft Posts 26% Fall in 2020 Net Profit

Russian oil pipeline monopoly Transneft's net profit fell by 26% last year to 133.2 billion roubles ($1.8 billion) as lower volumes of oil were transported amid global production cuts and the COVID-19 pandemic.

Australian State Rejects AGL Energy's Plan to Import LNG

Victoria state rejected a plan by AGL Energy to build an LNG import terminal, effectively killing a proposal designed to help fill an expected shortfall in gas supply in southeast Australia from 2024.

Perspective: Australia's Natural Gas Industry Should Worry About Demand, Not Supply

Australia, the world's largest exporter of liquefied natural gas, is facing a dilemma when it comes to domestic demand for the fuel, as the government's plans for a gas-fired economic recovery run into some confronting realities.

Cheniere Announces Completed Construction of Train 3 at Corpus Christi Liquefaction Project

Commissioning is complete and Cheniere’s EPC partner Bechtel Oil, Gas and Chemicals has turned over care, custody and control of Train 3 to Cheniere.

As Suez Canal Reopens, Number of LNG Vessels Waiting to Enter Jumps

A total of 16 vessels carrying liquefied natural gas (LNG) were prepared to enter the Suez Canal, double the number from Friday, according to cargo tracking firm Kpler, as stranded container ship Ever Given was freed on Monday after a nearly week-long stranding.

NextDecade, Oxy Low Carbon Ventures Agree on CO2 Transportation and Storage in South Texas

NextDecade Corporation and Oxy Low Carbon Ventures executed a term sheet for the offtake and permanent geologic storage of CO2 captured from NextDecade’s planned Rio Grande LNG project in the Port of Brownsville, Texas, the companies announced.

Suez Ship Congestion Could Delay LNG Deliveries to Europe

A container ship blocking the Suez Canal, one the world's busiest trade routes, could delay delivery of millions of tons of LNG to Europe if the vessel stays stuck there for two weeks, analysts said.

Perspective: U.S. Gas Industry Increasingly Relies on LNG Exports

U.S. gas producers have become increasingly reliant on LNG exports to Europe and Asia to absorb their growing output and prevent domestic prices from plunging as a result of oversupply.

Annova Cancels Texas LNG Export Facility Project

Annova LNG announced the immediate cancellation of its liquified natural gas (LNG) export facility under development in Brownsville, Texas, due to changes in the global LNG market.

Suez Canal Steps Up Efforts to Remove Blockage as Shipping Rates Surge, Tankers Diverted

The Suez Canal stepped up efforts on Friday to free a giant stuck container ship and end a blockage that has sent shipping rates for fuel tankers soaring and disrupted global supply chains for everything from grains to baby clothes.

Egypt's SUMED Pitches Use of Pipeline as Suez Crisis Drags

Egypt's SUMED pipeline operator has approached oil traders to ask if they wanted to book their system to transport crude oil as a blockage of the Suez Canal by a container ship drags,

Singapore Appoints Two More Term LNG Importers

Singapore's Energy Market Authority has appointed ExxonMobil LNG Asia Pacific and Sembcorp Fuels (Singapore) as term liquefied natural gas importers for the city state, increasing the number of players to four.

INEOS Energy to Sell Norwegian Oil and Gas Business to PGNiG for $615 million

INEOS Energy has agreed to sell its Norwegian oil and gas business to Poland's PGNiG Upstream Norway AS for $615 million.

Tugs Work to Free Giant Container Ship Stranded in Suez Canal

The shortest shipping route from Europe to Asia remained blocked on Wednesday as 10 tug boats struggled to free one of the world's largest container ships after it ran aground in the Suez Canal.

Saudi Aramco Sends Request for Pipeline Deal Financing

Saudi Aramco has sent a request for proposals to banks for financing it wants to offer to investors looking to lease its pipelines, three sources said, a sign the oil giant is progressing with plans to extract value from its assets.

Top U.S. Gas Utility Sets Net Zero Emissions Goal for 2045

Southern California Gas Co, the largest U.S. gas distribution utility, set a target to achieve net zero greenhouse gas emissions by 2045, aligning with the state's target to become carbon-neutral within 25 years.