Business & Markets

Shell in Talks with Nigeria to Divest Onshore Oil Stakes

Shell, the operator of the West African country's onshore oil and gas joint venture SPDC, has struggled for years with spills in the Niger Delta as a result of pipeline theft and sabotage as well as operational issues.

Bloom Energy, Idaho National Laboratory to Use Nuclear Energy to Generate Hydrogen

Bloom Energy’s electrolyzer converts water (or steam) into hydrogen and oxygen. The hydrogen can then be injected into the natural gas pipeline, stored and used for power generation with a fuel cell at a later time, dispensed to fuel cell vehicles, or used by industrial processes that consume large amounts of hydrogen.

Greenlane Renewables Signs $9.8 Million Landfill Gas-to-RNG Contract

The contract is for a large landfill gas-to-RNG project. Greenlane will supply its two-stage PSA system to upgrade the landfill gas to pipeline-specification RNG for direct injection into the local natural gas grid.

Perspective: Oil Prices Capped by Hedge Fund Profit-Taking

Hedge funds cut their petroleum positions last week as oil prices neared the top of recent trading ranges and the cyberattack on the Colonial fuel pipeline looked set to cut crude processing and diesel output.

Some U.S. Gas Stations Still Without Fuel After Colonial Pipeline Reopens

More than half of the gas stations in some areas of the U.S. southeast remained without fuel and prices at the pump were at seven-year highs on Monday, even as the flow on the nation's largest fuel pipeline resumed after a cyberattack resulted in a six-day system outage and mass panic-buying.

Max Midstream Has First Loading of Texas Oil at the Port of Calhoun Terminal

The Calhoun Port Authority and Max Midstream, a Texas-based energy company, announced the first successful loading of Texas oil at the Port of Calhoun Terminal in Point Comfort, Texas, last week.

U.S. Gasoline Shortage Eases, But Pumps Dry in Some Areas

Gasoline shortages that have plagued the U.S. East Coast slowly eased on Sunday, with 1,000 more stations receiving supplies as the country's largest fuel pipeline network recovered from a crippling cyberattack.

‘Critical’ Coastal GasLink Pipeline on Target for 2023

Coastal GasLink, part of one of the biggest projects in Canada’s history, is almost halfway complete and on track to start up by 2023, experts say.

Citgo Secures U.S. Government's Maritime Waiver Amid Fuel Crunch

The Biden administration granted oil refiner Citgo Petroleum a maritime shipping waiver allowing it to move fuel between U.S. ports on a foreign flagged vessel, two sources told Reuters on Friday, making it the second company to secure one this week.

U.S. Capital Running Out of Gas, Even as Colonial Pipeline Recovers

The U.S. capital was running out of gasoline on Friday even as the top U.S. fuel pipeline ramped up deliveries following a cyberattack and Washington officials assured motorists that supplies would return to normal soon.

Pieridae Moves Closer to June Decision on Nova Scotia LNG Export Plant

Canadian energy company Pieridae Energy Ltd said on Thursday it still expects to make a final investment decision by June 30 on its proposed Goldboro LNG export plant in Nova Scotia.

Colonial Pipeline Recovering; Paid Almost $5 Million Ransom

After a six-day outage, the top U.S. fuel pipeline on Thursday moved some of the first millions of gallons of motor fuels after a crippling cyberattack led to fuel shortages across East Coast states.

U.S. Denies Dakota Access Oil Pipeline Stay Request

U.S. Court of Appeals for the District of Columbia Circuit on Thursday denied a request from operators of the Dakota Access oil pipeline for a stay, while they seek a Supreme Court review in the company's battle to keep the line open.

U.S. Waives Shipping Restrictions to Ease Fuel Crunch After Pipeline Hack

The U.S. government relaxed a long-standing maritime law protecting domestic shipping commerce to allow an undisclosed company to transport gasoline and diesel to ports in the East Coast after a cyberattack crippled the nation's largest fuel pipeline network.

Analysis: Cyberattack Exposes Lack of Required Defenses on U.S. Pipelines

The shutdown of the biggest U.S. fuel pipeline by a ransomware attack highlights a systemic vulnerability: Pipeline operators have no requirement to implement cyber defenses.

Pipeline Operator Energy Transfer Mulls Chemicals Acquisition

Energy Transfer is weighing acquisitions in the booming chemicals business, co-founder and executive chairman Kelcy Warren said on Wednesday at a conference in North Dakota, where he also expressed confidence DAPL will continue to operate.

Panicked Drivers in Southeast U.S. Swarm Pumps, Ignore Pleas to Stop Hoarding

Drivers in the U.S. Southeast formed lines on Wednesday to fill up tanks from the dwindling number of retail gas stations with fuel to sell, disregarding government pleas for people not to hoard supplies as the shutdown of the main regional fuel pipeline entered its sixth day.

Occidental Petroleum Says Federal Leasing Ban Would Hurt U.S. Oil Growth

U.S. oil and gas producer Occidental Petroleum Corp said federal drilling permits are moving forward in the Permian Basin shale field following a federal pause this year, but a longer-term ban could hurt U.S. oil output.

Fuel Shortages Worsen on Sixth Day of Top U.S. Fuel Pipeline Outage

Fuel shortages worsened in the southeastern United States on Wednesday, as the shutdown of the largest U.S. fuel pipeline network entered its sixth day and gasoline stations ran out of supply in some cities.

U.S. Energy Secretary: No Need to Hoard Fuel After Pipeline Outage

U.S. Energy Secretary Jennifer Granholm said on Tuesday there are no gasoline shortages in the wake of the Colonial Pipeline shutdown and that consumers should report any instances of price gouging of motor fuel.

Suncor to Develop Hydrogen Project in Alberta Amid Renewables Push

Suncor Energy will develop a clean hydrogen project near Fort Saskatchewan, Alberta, in one of the most significant steps taken by an oil sands producer to cut greenhouse gas emissions and tackle climate change.

U.S. Fuel Supplies Tighten as Pipeline Outage Enters Fifth Day

Supplies of gasoline tightened further in parts of the United States on Tuesday as the shutdown of the nation’s biggest fuel pipeline by hackers entered its fifth day, raising concern about price spikes at the pumps ahead of the summer driving season.

Venezuela Needs $58 Billion to Restore Crude Output to 1998 Levels

PDVSA estimated that $7.65 billion is needed for reviving pipelines, projects for gas injection to oilfields, terminals and refineries that are idled or underperforming due to lack of maintenance.

U.S. Pump Prices Head for Highest Since 2014 as Hacked Fuel Pipeline Shut

U.S. gasoline prices at the pump jumped 6 cents in the latest week and could soon be headed for the highest level since 2014 due to the supply disruption caused by a cyber attack on the country's biggest fuel pipeline system.

Sapphire Gas Solutions Enters Renewable Natural Gas Market

Sapphire Gas Solutions, a Conroe-based LNG and CNG solutions service company, was recently awarded the transportation and logistics contracts for seven farm-based renewable natural gas operations in central California.

US Consumption to Continue Decreasing

EIA forecasts a decreased total U.S. natural gas consumption in 2021 and 2022, following a decline in 2020. Consumption in 2020 was 1.9 Bcf/d lower than the all-time high of 85.1 Bcf/d set in 2019.

Annual US Natural Gas Production Decreased by 1% in 2020

U.S. natural gas production – as measured by gross withdrawals – averaged 111.2 Bcf/d (3.15 Bcm/d) in 2020, down 900 MMcf/d (25 MMcm/d) from 2019 as result of a decline in drilling activity related to low natural gas and oil prices in 2020.

Traders Book Tankers in Europe to Ship Gasoline Across Atlantic after Colonial Shutdown

Traders provisionally booked at least six tankers to ship gasoline from Europe to U.S. destinations following a cyber attack that shut the United States' top fuel pipeline network, Refinitiv Eikon data showed on Monday.

Australia Commits $45 Million to Boost Gas Supply

The Australian government said it will commit A$58.6 million ($45.3 million) to boost gas supply, storage and pipeline capacity in its 2021-22 budget, due to be unveiled on Tuesday.

Hackers Say They're Seeking Cash as Top US Fuel Pipeline Down for 4th Day

A group of cybercriminals allegedly responsible for the ransomware attack that shut the largest fuel pipeline in the United States said on Monday it only wants to make money, not disrupt society, as Washington scrambled to help restore the network.