Business & Markets

Duke Energy Takes $1.6 Billion Charge to Exit Atlantic Coast Pipeline

Duke Energy announced it has taken a $1.6 billion charge in relation to the cancellation of the Atlantic Coast natural gas pipeline.

U.S. Natural Gas Has Biggest Weekly Gain Since 2009

U.S. natural gas futures on Friday jumped to their highest since December after rising by the most in a week since 2009, as LNG exports increased and forecasts called for hot weather through late August.

U.S. LNG Firms Take Steps to Add Export Capacity Despite Coronavirus

U.S. LNG companies have taken steps to increase export capacity even as a collapse in energy demand has collapsed around the globe due to the coronavirus pandemic.

San Mateo Midstream Announces Binding Open Season

A subsidiary of San Mateo Midstream has announced a binding open season to gauge interest for a proposed expansion project.

New Midstream Joint Venture to Provide Permian Basin NGL Takeaway Capacity

Three U.S. midstream companies have formed a new joint venture to provide transport solutions for natural gas liquids in the Permian Basin.

BP Midstream Pipeline Volumes Fall 10% in Q2, Revenues Up

BP Midstream announced that pipeline volumes fell 10% in Q2 due to shrinking demand caused by the coronavirus pandemic while revenues for the company rose over the same period.

Cheniere Energy Accelerates LNG Plant Expansion Amid Q2 Profit Gains

Cheniere Energy is planning to accelerate the planned expansion of two of its LNG export facilities in Texas after being analyst profit estimates in Q2.

U.S. Appeals Court Allows Dakota Access Pipeline to Keep Running

A U.S. appeals court on Wednesday said that the Dakota Access Pipeline does not have to be shut and drained per a lower court order.

Ukraine Says no Plans to Resume Gas Purchases from Russia

Ukraine has said it would not resume buying natural gas supplies from Russia until Moscow offers competitive terms and pricing.

Lobbying for Russian Pipeline Spikes in Washington

Political lobbyists in Washington for Russia's Nord Stream 2 pipeline have increased their efforts in the past few years, but are disclosing fewer details of their work to U.S. officials according to government filings.

FERC to Decide on Marathon Alaska LNG Import Project by Year End

U.S. energy regulators said on Wednesday they plan to make a decision on Marathon Petroleum Corp’s plan to convert the Kenai liquefied natural gas export plant in Alaska into an import terminal by the end of the year.

TC Energy Announces $400 Million ANR Pipeline Enhancement Project

TC Energy has announced it will proceed with enhancements to its ANR natural gas pipeline transmission system.

U.S. LNG Exports Set to Rise for First Time in Six Months

U.S. exports of LNG are set to rise in August for the first time in six months according to industry experts, sending the price of gas to a three-month high on Monday.

Freeport Seeks More Time to Build Train 4 at Texas LNG Facility

Freeport LNG has requested more time to complete its proposed fourth liquefaction train at its LNG facility in Texas.

Equitrans Confirms Early 2021 Startup for Mountain Valley Natural Gas Pipeline

Equitrans Midstream confirmed on Tuesday that the company plans to start up its Mountain Valley natural gas pipeline by early 2021.

Petroperu Resumes Pipeline Operations After Coronavirus-Related Halt

Peru's state-run energy firm Petroperu has restarted pipeline operations after being halted due to concerns over the coronavirus.

National Fuel Completes Acquisition of Shell Pennsylvania Upstream and Midstream Assets

National Fuel announced it has completed the purchase of upstream and midstream assets in Pennsylvania from a subsidiary of Shell.

MPLX Sees $100 Million Earnings Hit if Bakken Oil Pipelines Shut

MPLX, the midstream branch of energy firm Marathon, announced it could begin losing $100 million a year if closures of two North Dakota pipelines were to take effect.

Shell Midstream Cuts Costs as Demand Destruction Hits U.S. Pipeline Flows

Shell Midstream has announced spending cuts as demand fell across many of its U.S. pipeline operations.

Report: LDCs Own Residential, Commercial Sectors but Pipelines Fuel Power

A new government report on the U.S. natural gas industry shows that local distribution companies supply 90% of natural gas to U.S. residential and commercial sectors, but pipeline companies handle the biggest volumes through direct delivery to electric power and industrial customers.

U.S. Crude Output in May Plummets by Record 2 Million Barrels per Day

Data from the U.S. Energy Information Administration shows domestic crude output experienced its sharpest drop in 15 years in May.

Brazil's Petrobras Forges Ahead with Midstream, Downstream Divestments

Speaking to investors on Friday, executives at Petrobras, Brazil's state-run oil firm, said the company is moving forward with the IPO of its gas pipeline assets and expects to conclude a deal for its RLAM refinery in the near future.

Trump Allows Keystone Pipeline to Ship More Canadian Oil After Expansion Stalls

President Donald Trump has issued a presidential permit to allow TC Energy's Keystone oil pipeline to ship nearly 30% more Canadian crude as the company's' proposed expansion of the pipeline has again been stalled by legal hurdles.

TC Energy Profit Dips from Uncontracted Keystone Volumes

TC Energy reported a 6% drop in profits on Thursday partly due to a fall in uncontacted volumes on its Keystone oil pipeline.

U.S. Natgas Demand Up as Total Energy Use Hits 30-Year Low

U.S. natural gas consumption defied trends through the pandemic days of April 2020 with a year-over-year increase during a month in which total energy demand fell to a 30-year low.

Trump Seeks out Loyal Donors in West Texas Oilpatch

President Donald Trump's visit to a U.S. fracking hub on the West Texas plains comes during the state’s fierce coronavirus outbreak and a global oil and gas glut that is putting the squeeze on his loyal donors in the petroleum industry.

Enbridge Sees Improving Mainline Oil Volumes

Canadian pipeline operator Enbridge on Wednesday posted a quarterly profit slightly higher than analysts' estimates and said it sees volumes growing across the Mainline, North America's biggest oil pipeline network.

Pipeline Doubts put Bakken Shale Reboot on Hold

North Dakota oil producers face new pressures to delay bringing back more of their recently curbed output after a U.S. court ruling this month put in jeopardy the pipeline that transports most of the region's oil, executives and analysts said.

U.S. Gas Rises 2% as Pipeline Exports Increase, Despite Warm Forecasts

Futures prices for U.S. natural gas rose on Tuesday as pipeline exports increase despite continuing forecasts for warmer weather.

Once Canada's Oil Relief Valve, Rail Shipping Grinds to Near Halt

Crude-by-rail shipments in Canada, which hit record highs just five months ago, have all but come to a halt as global energy demand has plummeted opening up transport space on much cheaper pipelines.