Business & Markets
Williams’ DJ Basin Move May Signal New Investments
(P&GJ) — Early in 2023, Tulsa-based energy infrastructure giant Williams wasted no time in announcing that it had acquired MountainWest Pipelines Holding Company from Southwest Gas Holdings, in a transaction that included $1.07 billion in cash and $430 million in assumed debt, for an enterprise value of $1.5 billion.
Opinion: Chevron’s $53 Billion Deal Is a Risky Imitation of Exxon's Strategy
Chevron has decided, like Exxon Mobil, that it’s better to discover oil on the New York Stock Exchange than drilling in the ground. The $318 billion oil giant said Monday it would buy New York-based Hess for $53 billion in an all-stock deal.
Chevron to Buy Hess for $53 Billion in All-Stock Deal
Chevron agreed to buy U.S. rival Hess Corp. for $53 billion in stock in a deal that reflects top U.S. energy companies' drive for oil and gas assets in a world seeking lower-risk future fossil supplies and higher shareholder returns.
Africa Leads the Way in Rapid Expansion of Floating Gas Facilities Amid Rising European Demand
Africa is at the forefront of a global wave of new floating gas facilities as countries on the continent seek to meet surging demand in Europe as quickly and cheaply as possible, analysts and energy companies told Reuters.
Russia’s Gazprom Working on Infrastructure Design for Far Eastern Gas Pipeline to China
Russian energy giant Gazprom said on Thursday that it was working on the design of infrastructure for a gas pipeline from the Sakhalin region in Russia's Far East to China.
Editor’s Notebook: ‘Peace Pipeline’ Project Appears Dead
At least for a while over the last couple of decades, the Iran-Pakistan (IP) gas pipeline was perceived by some as something that would bring at least a measure of harmony to Pakistan’s relationship with Iran. However, once again, the project has been shelved – this time apparently under U.S. pressure.
Canadian Regulator Approved Trans Mountain Pipeline Route Change Over Delay Concerns
The Canada Energy Regulator (CER) said on Friday that it approved a route change application for the expansion of the Trans Mountain oil pipeline because continuing to use micro-tunneling construction techniques could delay completion by at least 10 months.
Navigator CO2 Ventures Cancels 1,300-Mile Carbon Pipeline Project in U.S. Midwest
Navigator CO2 Ventures has canceled its Heartland Greenway pipeline project aimed at capturing 15 million metric tons of carbon dioxide annually from Midwest ethanol plants and storing it permanently underground, the company said, citing "unpredictable" state regulatory processes.
U.S. Gulf Coast Oil Patch Gets Lucky, So Far, in Busy Hurricane Season
A very active Atlantic hurricane season so far this year has not sent storms across U.S. oil and natural gas fields in the northern Gulf of Mexico, sparing energy companies billions of dollars of losses and consumers higher fuel costs.
Oil on Track for Second Week of Gains on Gaza Contagion Fears
Oil prices extended gains on Friday and were on track for a second week of increases on heightened fears that the Israel-Gaza conflict may spread in the Middle East and disrupt supplies from one of the world's top-producing regions.
U.S. Senators Ready Bill to Fund Office Helping Iran Oil Seizures
U.S. senators from both parties are readying legislation to help the federal government enforce oil sanctions on Iran, the office of Senator Joni Ernst, a Republican, told Reuters on Thursday.
U.S. Broadly Eases Venezuela Oil Sanctions After Election Deal
The Biden administration on Wednesday broadly eased sanctions on Venezuela's oil sector in response to a deal reached between the government and opposition parties for the 2024 election - the most extensive rollback of Trump-era restrictions on Caracas.
U.S. Hopes to Buy 6 Million Barrels for Oil Reserve by January
President Joe Biden's administration hopes to buy 6 million barrels of crude oil for delivery to the Strategic Petroleum Reserve in December and January, as it continues its plan to replenish the emergency stockpile, the U.S. Department of Energy said on Thursday.
US Oil Refiners Crank Out Diesel, Further Squeezing Margins for Gasoline
U.S. oil refiners have cranked up output of diesel, heating oil and jet fuel for winter but are struggling to turn a profit because gasoline margins have fallen over 80% since the summer driving season ended.
FERC Approves TC Energy's 1,377-Mile West Coast Pipeline Expansion
(P&GJ) — Despite strong opposition from environmental activists and high-ranking officials in West Coast states, federal regulators have granted approval for the 1,377-mile (2,216-kilometer) pipeline spanning across Idaho, Washington, and Oregon.
Technip Energies Shares Plunge After Le Monde Report on Russian Gas Project
Technip Energies shares plummeted on Thursday after French newspaper Le Monde said the oil and gas company may have failed to comply with European Union sanctions against Russia by continuing to supply equipment to a Russian gas project.
Angola to Maintain Crude Output at 1.1 Million bpd into 2024
Angola expects to maintain its current crude oil production of 1.1 million barrels a day (bpd) into next year, a government official said on Thursday, even as the country looks to stabilize declining output from mature fields.
China's CNOOC, French Energy Firm Engie Complete Yuan-Settled LNG Trade
Chinese national oil company CNOOC and French energy company Engie have completed a yuan-settled LNG trade through the Shanghai Petroleum and Natural Gas Exchange.
Shell to Complete Maintenance at Prelude LNG by Mid-November
Shell is expected to complete maintenance at its flagship Prelude LNG facility off Australia by mid-November, two sources close to the project told Reuters on Wednesday.
Venezuela May Redirect Oil Exports Away from China as U.S. Eases Sanctions
Exemptions to sanctions on Venezuelan oil exports that the U.S. is mulling should not result in a large crude production surge in the OPEC country, instead taking barrels away from its current main destination China, experts said.
Kinder Morgan's Q3 Earnings Fall Short Due to Commodity Prices and Pipeline Expenses
Pipeline and terminal operator Kinder Morgan on Wednesday posted lower-than-expected profit for the third quarter as higher interest expenses offset strength in its natural gas and products pipeline segment.
Repsol CEO Vows Legal Action to Secure LNG Cargoes in Dispute with Venture Global
Spanish energy giant Repsol SA will take action against US gas exporter Venture Global LNG to obtain LNG cargoes under a long-term contract, the company's chief executive said on Wednesday.
QaterEnergy, Shell Sign 27-Year LNG Supply Deal
(P&GJ) — Affiliates of QatarEnergy and Shell signed two long-term LNG sale and purchase agreements for the supply of up to 3.5 million tons per annum of LNG from Qatar to the Netherlands.
Chesapeake Considers Acquisition of Rival Natural Gas Producer Southwestern Energy
U.S. natural gas producer Chesapeake Energy Corp. has approached Southwestern Energy, a peer valued by the stock market at $12 billion including debt, about a potential acquisition, people familiar with the matter said.
ADNOC Gas Signs LNG Supply Deal with Japan's JERA
Abu Dhabi's ADNOC Gas and Japan's JERA Global Markets signed a two-year LNG agreement valued between $500-700 million, the companies said on Wednesday.
Mitsui Considers Stake in Qatar's North Field LNG Expansion Project
Japanese trading house Mitsui & Co is considering buying a stake in the North Field LNG expansion project in Qatar as a way to ensure a stable supply of LNG, a Mitsui spokesperson said.
Shell Urges DOE to Approve Energy Transfer’s LNG Export License Application
Shell PLC has submitted a letter to the U.S. Energy Department in support of Energy Transfer's request for a new license to export LNG to countries without free trade agreements with the U.S., saying the pipeline operator is a reliable gas supplier.
German Gas Grid Operator OGE Joins Hydrogen Pipeline Project
German gas grid operator Open Grid Europe (OGE) is joining its French, Spanish and Portuguese peers working to develop a multibillion-euro hydrogen pipeline connecting the Iberian peninsula to France and on to Central Europe.
New Gas Pipeline Stretching 808 Miles to Murmansk Confirmed by Novatek
(P&GJ) — Novatek, the Russian energy giant, has officially announced its project to construct an extensive 808-mile (1,300-km) gas pipeline reaching Murmansk, Russia. The pipeline project is expected to be able to transport 40 billion cubic meters of gas annually.
Marathon Oil Inks 5-Year LNG Deal for Alba Gas in Equatorial Guinea
(P&GJ) — Marathon Oil Corp. has entered into a five-year firm LNG sales agreement with Glencore Energy U.K. Ltd. for a portion of its equity natural gas produced from the Alba Field in Equatorial Guinea.
- FERC Approves TC Energy's 1,377-Mile West Coast Pipeline Expansion
- Kinder Morgan to Buy NextEra’s 462-Mile Texas Pipeline System for $1.8 Billion
- Williams' Gas Pipeline in Idaho Ruptures, Company Challenges Explosion Allegations
- Biden Awards $7 Billion in Hydrogen Hub Money to 16 States
- Mountain Valley Pipeline Sues Protesters Hindering $7.2 Billion Construction Project
- UAE's ADNOC Awards $17 Billion of Contracts for Gas Project, Including Subsea Pipelines
- HVO: Fuel for the Future
- Analysis: Canada May Struggle to Recoup $26 Billion Cost of Trans Mountain Pipeline
- Biden Awards $7 Billion in Hydrogen Hub Money to 16 States
- TC Energy Names Ex-CEO as Chair of Oil Pipeline Business
