Business News

Kinder Morgan Says 7th Elba Island Unit Ready

Kinder Morgan has asked regulators to approve the 7th liquefaction train at its Elba Island LNG export facility in Georgia.

Oil Rises as International Energy Agency Boosts Demand Forecast

The International Energy Agency increased its outlook for 2020 fuel demand causing oil prices to rise on Friday but rising coronavirus cases in the U.S. tempered expectations for a quick recovery.

Energy Industry Veterans to Launch Hydrogen Investment Fund

As more governments are looking to hydrogen to fill in clean energy gaps, two energy industry veterans are planning to launch an investment fund focused on advancing use of the fuel.

U.S. Judge Rejects Latest Dakota Access Effort to Avoid Pipeline Shutdown

A federal court judge has rejected the latest request from Dakota Access to stay a shutdown order issued for the 570,000-bpd oil pipeline, allowing the company to appeal to a higher court.

Cyprus to Get First Natural Gas Import Terminal

Cyprus officially began work Thursday on the country's first-ever natural gas import terminal.

Dakota Access Seeks Stay of Pipeline Shutdown Order Pending Appeal

Dakota Access has asked a federal court to stay its previous order to shut down and empty the pipeline within 30 days while an appeal of the decision is decided.

Bulgartransgaz Offered Over $600 Million to Complete TurkStream Expansion

Bulgaria's state-owned Bulgartransgaz said it has received offers totaling more than $600 million to help complete an expansion of the TurkStream gas pipeline.

U.S. Crude, Natural Gas Demand to Fall in 2020, Oil Decline Less than Forecast — EIA

New data released from the U.S. Energy Information Association forecasts a decline in domestic oil and natural gas production for 2020 with the decline in oil production to be less than previously forecast.

Judge Denies Dakota Access Initial Motion to Stay Pipeline Shutdown Order

A federal judge has denied a request from owners of the Dakota Access pipeline to stay a shutdown order passed down on Monday requiring the pipeline to be shut and emptied within 30 days.

Russian Vessel Able to Complete Nord Stream 2 Pipeline Departs from German Port

A Russian vessel that has the capabilities needed to complete the Nord Stream 2 pipeline has left the project's staging area in Germany where it was docked.

China Hires Morgan Stanley, Goldman Sachs to Advise on Pipeline Asset Transfers — Sources

China has hired Morgan Stanley and Goldman Sachs to advise the country's top energy firms on multi-billion dollar deals transferring oil and natural gas pipeline assets to a new national energy infrastructure company.

Rangeland Midstream Canada Brings Marten Hills Pipeline System into Service

The Marten Hills Pipeline System from Rangeland Midstream Canada has entered service.

Dakota Access Pipeline Shutdown May Revive Oil-by-Rail Industry

The court-ordered shutdown of the Dakota Access pipeline on Monday may provide a much-needed boost to the oil-by-rail industry.

Pipeline Shutdown Adds to Record Decline in U.S. Natural Gas Output

Unplanned maintenance on TC Energy's Mountaineer Xpress Pipeline helped push U.S. natural gas output on Tuesday towards its lowest point since September 2018.

U.S. Energy Dept. Approves Jordan Cove LNG Exports

The U.S. Department of Energy has approved LNG exports from the proposed Jordan Cove LNG project in Oregon, the first on the country's West Coast.

U.S. Court Orders Dakota Access Pipeline Shut, Emptied

A U.S. District Court has ordered Energy Transfer to shut down and empty its controversial 570,000 bpd Dakota Access oil pipeline within 30 days.

Berkshire Hathaway Energy to Acquire Dominion Energy’s Gas Transmission and Storage Business

Berkshire Hathaway has agreed to purchase Dominion Energy's natural gas transmission and storage business for almost $10 billion.

Denmark Gives Nord Stream 2 Nod to Restart Pipeline Work

Denmark has given approval for the Nord Stream 2 pipeline to use pipelaying vessels with anchors to complete work on the natural gas pipeline in Danish waters.

Petrobras Enters Binding Phase in Sale of 10% Stake in NTS Gas Pipeline

Brazil's state oil firm Petrobras has begun the binding phase in the sale process of its 10% remaining stake in gas pipeline firm Nova Transportadora do Sudeste SA (NTS), it said in a securities filing on Friday.

Energy Transfer Moves to Prevent Cancellations on Dakota Access Expansion — Sources

Energy Transfer has reportedly invoked force majeure in order to prevent oil companies from canceling contracts to ship crude oil on the company's proposed expansion of the controversial Dakota Access pipeline, according to two sources familiar with the matter.

Canada's Supreme Court Dismisses Appeal Against Trans Mountain Pipeline

Canada's Supreme Court has dismissed a lower court appeal filed against the Trans Mountain pipeline removing one of the last remaining hurdles of the expansion project.

Japan's Investment Drive in LNG Faces Risk of Souring — Study

Japan's banks and public agencies have funneled nearly $25 billion into liquefied natural gas (LNG) projects since 2017 but the investments may sour as prices plummet from the COVID-19 pandemic and as climate change risks rise, a new study shows.

Alaska Officials Approve BP's Sale of Pipeline, Oil Leases to Hilcorp

Alaskan energy officials on Monday approved the sale of BP's pipeline and oil and gas assets to Hilcorp Energy as part of a previously announced multi-billion dollar deal.

Chesapeake Asks to Cancel Pipeline Contracts Amid Bankruptcy Filing

Chesapeake Energy is looking to cancel more than $300 million worth of pipeline contracts as part of its Chapter 11 bankruptcy proceedings.

Black Bear Transmission Announces Purchase of Gas Pipeline Assets

Black Bear Transmission has announced the purchase of natural gas pipeline assets from Third Coast Midstream.

EU Prepares Response to Nord Stream U.S. Sanctions Threat

The European Union is preparing measures to protect itself against proposed U.S. sanctions against European companies involved in the construction of the Nord Stream 2 pipeline.

Chesapeake Energy Bankruptcy Delivers Hit to Reeling Pipeline, Service Firms

A bankruptcy filing by Chesapeake Energy will deliver a hard blow to pipeline and service companies already struggling from the collapse in energy demand brought on by the coronavirus pandemic.

Sasol to Sell Stakes in Mozambique Pipeline, Power Plant — Sources

According to two sources, Sasol is looking to sell its stakes in a Mozambique pipeline as well as a power plant in the country.

Michigan Judge Orders Immediate Shut Down of Enbridge Line 5 Leg

A Michigan judge has granted a request from the state Attorney General to order the immediate shutdown of a portion of Enbridge's Line 5 which runs under a stretch of the Great Lakes.

Investors Raise $7.96 Billion Loan for ADNOC Pipeline Deal

A group of investors has signed a nearly $8 billion loan to help finance a $10 billion gas pipeline investment with the state-owned Abu Dhabi National Oil Company.