Business & Markets
Gran Tierra Energy Offers $226 Million to Acquire UK’s i3 Energy
With the deal, Gran Tierra Energy aims, to create an independent energy company of scale in the Americas, with increased production, reserves, cash flows, and development options across Canada, Colombia, and Ecuador.
Baltimore Takes Shale Producers to Court Over Alleged Price-Fixing Scheme
The city of Baltimore has hit major U.S. shale oil producers including Hess and Permian Resources with a lawsuit alleging they conspired to curb production, leading to higher prices for gasoline, diesel fuel and heating oil.
CNPC Eyes Global Expansion, Aims to Revive Bold Dealmaking
CNPC, Asia's top oil producer, is reviewing its global strategy as it looks to revive dealmaking, eyeing gas liquefaction and deepsea drilling as well as building on its record of producing more from aging wells, the head of its research arm said.
Trans Mountain Appoints Mark Maki as CEO Amid Pipeline Expansion Milestone
Canadian pipeline operator Trans Mountain Corp. on Friday named insider Mark Maki as its chief executive officer from Sept. 1.
Texas Oil Pipelines Near Max Capacity, Threatening Future Export Limits
The pipelines that carry crude from the prolific Permian Basin to the Port of Corpus Christi are currently operating at over 90% capacity, and operators warn that this congestion could worsen.
Shell to Shut Portions of 350-Mile Zydeco Pipeline in Louisiana
Oil major Shell on Monday said it plans to shut-in different portions of its Zydeco pipeline system for maintenance for three to four days starting Sept 24.
Qatar Strikes Another 15-Year LNG Supply Deal with Kuwait
Qatar agreed on Monday to supply Kuwait with 3 million tons per annum of LNG for 15 years, the second such deal since 2020 as Kuwait imports the fuel to help meet rising demand for power generation.
U.S. Sanctions Hit Key Entities in Russia’s Arctic LNG 2 Project
The Arctic LNG 2 project by Russia's Novatek is subject to Western sanctions over Russia's conflict with Ukraine. The project had been due to become Russia's largest LNG plant with eventual output of 19.8 million metric tons per year of LNG from three trains.
Mideast Tensions and U.S. Rate Cuts Drive Oil Prices Higher, Raising Supply Disruption Fears
Oil prices extended gains on Monday on fears a major spillover in fighting from the Gaza conflict into the Middle East could disrupt regional oil supplies, while imminent U.S. interest rate cuts lifted the global economic and fuel demand outlook.
New Zealand to Reverse Oil and Gas Exploration Ban, Ease LNG Import Rules
New Zealand said on Monday it would pass laws by the end of this year to reverse a ban on offshore oil and gas exploration and take urgent steps to remove regulatory hurdles to import LNG amid energy shortages.
Morgan Stanley Cuts 2024 Oil Demand Forecast on China's LNG Truck Growth, Economic Slowdown
Morgan Stanley has lowered its global oil demand growth forecast for 2024, mainly due to China's slower economic growth, increased electric vehicle usage there, and a rise in the number of trucks in China powered by LNG.
Venture Global LNG Prepares Plaquemines Plant for Test-Mode Startup
Venture Global LNG received a vessel loaded with imported LNG this week and an authorization from a federal regulator to use nitrogen at its Plaquemines facility in Louisiana, signs of preparations for a test-mode start up.
U.S. Buys Nearly 2.5 Million Barrels for SPR, Totaling 7 Million Barrels Purchased Since July
The U.S. has bought nearly 2.5 million barrels of oil to help replenish the Strategic Petroleum Reserve after the largest sale ever from the facility in 2022, the Energy Department said on Friday.
Oil Tycoon Emmanuel Fritz Paret Acquires 100-Mile Natural Gas Pipeline in Kentucky Reserve Deal
The deal includes a 100-mile natural gas pipeline, which is crucial for supplying natural gas to Kentucky's aluminum industry, ensuring a steady energy flow.
Vietnam's Newest LNG Terminal Prepares for Commissioning with October Cargo
Vietnam's Cai Mep LNG terminal is seeking a cargo to initiate commissioning tests, two industry sources said, putting it on track to become the country's second terminal to bring in the fuel.
Tanker Arrives for Cooldown at Louisiana’s Plaquemines LNG Plant, Signaling Startup Phase
A tanker full of LNG has docked at Venture Global LNG's Plaquemines export plant in Louisiana, with another vessel, the Kwangyang, on its way to the facility, according to shipping data from LSEG on Friday.
Pemex Approved for $400 Million Boost in New 'Mexican Gas Frontier,' Includes Pipeline Expansion
Pemex has received approval to increase its investment in the Lakach deepwater gas project by $400 million, marking a significant step in Mexico's new 'gas frontier.' The expansion includes building additional pipeline infrastructure and comes as billionaire Carlos Slim signs a $1.2 billion contract with Pemex.
Philippines' Top Oil Storage Firm Seeks Strategic Investor, Valuation Could Reach $500 Million
Owners of Philippine Tank Storage International are seeking to bring a strategic investor into the company that runs the biggest petroleum products import storage facility in the country, sources told Reuters.
Enbridge Cuts Rates to Compete with New Trans Mountain Oil Route
Enbridge Inc. has reduced tolls on its Canadian oil export pipelines in response to heightened competition from a newly operational pipeline linking Alberta to Vancouver.
Niger Resumes Oil Exports via Benin After Suspension Amid Dispute
Landlocked Niger has resumed crude oil exports via Benin after a dispute between the countries halted the flow of oil through a new Chinese-funded pipeline to the West African coast, according to a pipeline company agent and ship tracking data on Wednesday.
Enbridge, Energy Transfer Confront Takeaway Capacity Crunch Amid Rising Production
Enbridge and Energy Transfer are tackling the challenge of increasing takeaway capacity amid rising U.S. oil and gas production. This exclusive P&GJ article provides an in-depth look at their latest infrastructure projects and market strategies.
Projects August 2024
Explore recent developments in energy infrastructure: Allseas completes the 163-mile Barossa pipeline, FERC approves Mountain Valley's $7.85 billion Virginia gas pipeline, Nigeria's AKK pipeline set for 2025 completion, Wison exits Arctic LNG 2, Enbridge faces Line 5 legal challenges, and more!
Global News August 2024
Latest industry developments from around the world!
Congress Stalls on Pipeline Safety Bill as PHMSA Nears Key Rule Decisions
Pipeline & Gas Journal Exclusive: As Congress heads toward the end of this session, presumably in late September, two different bipartisan pipeline safety bills passed by two House committees appears to be going nowhere fast.
Hungary's MOL Nears Final Agreement for Russian Oil Transport Amid Kyiv Ban
Hungary's MOL is in the final stages of talks to set up a scheme to ensure crude oil flows from Russia after Kyiv banned its main partner Lukoil's transport through its pipelines, a Hungarian government official said on Thursday.
Inpex Shuts One Train at Ichthys LNG Plant, Second Outage in a Month
One of the two trains at the Ichthys LNG plant in Darwin, Australia, has been shut since Aug. 20, operator Inpex Corp. said in an emailed statement on Thursday.
Russia's Novatek Postpones Arctic LNG 2 Third Line to 2028
Russian natural gas company Novatek has postponed the start of operations at the third line of the Arctic LNG 2 project to 2028 from 2026, RBC media reported on Thursday.
Final Phase of Gas Pipeline Decommissioning Begins in New Mexico’s Valles Caldera
(P&GJ) — The pipeline, which was constructed by the U.S. Department of Energy in the 1940s to supply natural gas to Los Alamos National Laboratory, was retired in 2022. Restoration work commenced the same year.
Editor’s Notebook: Alaska’s New LNG Pipeline Push Faces Long Odds
Pipeline & Gas Journal Exclusive: Alaska’s ambitious LNG pipeline project might seem like a game-changer, but significant hurdles remain. In this Editor’s Notebook, we dive into the latest developments, investor concerns, and what it all means for the future of U.S. energy exports. Can the Last Frontier overcome the odds?
Exxon Claims Hidden Value in Hess Guyana Assets Could Alter $53 Billion Chevron Deal
Getting the arbitration panel to consider the appraised value is central to Exxon's claim that the deal is an asset acquisition disguised as a merger.
- Texas Waha Hub Gas Prices Plunge to Record Lows, Hit Negative Territory
- U.S. Appeals Court Strikes Down Controversial Biden Pipeline Safety Rules
- Williams Seeks Emergency Certificate to Operate $1 Billion Mid-Atlantic Gas Pipeline After Court Reversal
- Texas Oil Pipelines Near Max Capacity, Threatening Future Export Limits
- Energy Transfer Subsidiary Selects KTJV for Lake Charles LNG Export Project
- Saudi Arabia Looking to Expand Pipeline to Reduce Oil Exports via Gulf
- Report: Houston Region Poised to Become a Global Clean Hydrogen Hub
- Texas Startup Endeavors Again to Build First Major U.S. Oil Refinery Since 1977
- Puerto Bahia, Gasco to Build Liquefied Petroleum Gas Facility in Cartagena, Colombia
- U.S. Court Overturns FERC Approval for NextDecade’s $18 Billion Rio Grande LNG Project
