Business News
Husky Energy Shareholders Approve Sale to Cenovus
Husky Energy Inc said on Tuesday its shareholders approved the company's merger with rival Cenovus Energy Inc to create Canada's No. 3 oil and gas producer,
TC Energy to Acquire TC PipeLines in $1.68B Deal
TC Energy Corp said on Tuesday it would acquire all outstanding shares of TC PipeLines LP in a deal that values the natural gas pipelines operator at about $1.68 billion.
Britain to End State Support for Fossil Fuel Sector Exports
Britain said it is ending state support for fossil fuel industry exports, and shifting government assistance to low-carbon and renewable energy projects abroad.
EU Leaders Clinch Deal on Tougher 2030 Climate Goal
European Union countries agreed to a new climate change target for the bloc on Friday after haggling through the night in Brussels, pulling the political trigger on a policy revamp to make every sector greener.
Brent Rises Above $50 for First Time Since March
Oil prices climbed more than 4% on Thursday, with Brent surging above $50 a barrel for the first time since early March, fueled by hopes of a faster demand recovery as countries start to roll out COVID-19 vaccines.
Kinder Morgan Sees Higher Income in 2021, Raises Dividend
Kinder Morgan Inc said on Tuesday it expects to generate higher income in 2021 and raised its annual dividend, as the pipeline operator cost cuts this year in the face of oil demand destruction.
Enbridge Expects Higher Pipeline Volumes, Rates in 2021
Canadian pipeline operator Enbridge Inc on Tuesday forecast higher core earnings in 2021 and raised its annual dividend, saying it expects to see volume on its Liquids Mainline System improve next year.
U.S. Gas Prices Stumble on Mild Start to Winter
U.S. natural gas prices have tumbled since the start of November as persistent mild weather has caused inventories to remain high rather than drawing down in line with seasonal trends.
Brent Rises to Highest Since March after OPEC+ Output Cut Deal
Global benchmark Brent crude prices rose 1% to their highest since early March on Thursday on renewed hopes for a U.S. stimulus deal and after major oil producers agreed to increase output modestly from January.
Mexico Shuts Off Natural Gas Supply to Brazil's Braskem
Mexico has cut off natural gas supply to Braskem's Mexican operations, the company and government said, intensifying a dispute between President Andres Manuel Lopez Obrador and the Brazilian petrochemical company.
Enbridge Starts Construction on Line 3 Pipeline in Minnesota
Enbridge began construction on its Line 3 crude oil pipeline replacement in Minnesota on Tuesday, a day after state regulators approved the final permit for the $2.6 billion project amid legal challenges from lactivist and Indigenous groups.
Tellurian Withdraws Application for Permian Global Access Pipeline
LNG developer Tellurian Inc told federal energy regulators it wants to withdraw its application to build the Permian Global Access natural gas pipeline in Texas and Louisiana.
ExxonMobil to Cut up to 300 Jobs in Canada
ExxonMobil said Wednesday that it plans to eliminate up to 300 jobs in Canada by the end of 2021 as part of its ongoing efforts to lower costs. It said the global pandemic has increased the urgency of its cutbacks.
OPEC+ Still Leans Toward Extension Despite Rally
OPEC and allies including Russia are leaning towards delaying next year's planned increase in oil output to support the market during the second wave of COVID-19 and rising Libyan output, despite a rise in prices, sources said.
EU Denies Gas Plants a Green Finance Tag
The European Commission on Friday proposed that power plants fueled by natural gas would not be not classed as a sustainable investment in Europe, although plants could possibly gain a green label by burning some hydrogen.
Energy Leaders Leave Door Open to More Cuts as Virus Spikes
Saudi Arabia's energy minister said Monday that global energy producers have the ability to tweak an agreement on production cuts that could be extended through the end of 2022, signaling the anticipation of continued weakened demand for oil as the coronavirus pandemic peaks again in Europe and the United States
Oil Jumps on Vaccine Hopes, OPEC+ Supply Signals
Oil jumped by almost 10% on Monday for its biggest daily gain in more than six months after Pfizer announced promising results for its COVID-19 vaccine candidate and Saudi Arabia said an OPEC+ oil output deal could be adjusted to balance the market.
Oil Rises 2% but Traders Brace for Wild Ride After U.S. Election
Oil prices rose near 2% on Tuesday, advancing with other financial markets on U.S. Election Day, although traders were bracing for volatility depending on the voting results and as surging coronavirus cases around the world fed worries about fuel demand.
Canada Opens Oil Taps as Demand Grows, Curbs Lift
Canadian crude producers are churning out extra barrels to finish their hardest year in decades on a higher note, after Alberta's government lifted restrictions and as demand for heavy oil surged.
Norway Wealth Fund Says It's Hard to Find Green Energy Investments
Norway's $1.1 trillion sovereign wealth fund, the world's largest, is having trouble finding suitable unlisted renewable- energy projects to invest in due to the paucity of projects and strong competition for stakes in them, its new CEO said.
U.S. Energy Secretary Doesn’t See Oil Production Returning Soon to Pre-Pandemic Levels
The U.S. Secretary of Energy told reporters at an industry conference on Wednesday that he does not expect the country's oil output to return to pre-pandemic levels until at least after 2021.
Yes, Joe Biden Really Does Want to End the Oil and Gas Industry in America
The Biden energy plan has dire consequences for our industry and the entire American economy.
French Government Asks Engie to Delay U.S. LNG Deal Over Environment Concerns — Source
According to a source familiar with the matter, the French government has asked Engie to reevaluate its U.S. LNG import deal over environmental concerns.
Federal Judge Denies Bid to Halt Work on Keystone XL
A federal judge has denied a request by Native American tribes to halt work on the Keystone XL oil pipeline.
EPA Ends Methane Limits Constraint for Pipelines
The new Environmental Protection Agency (EPA) rule freeing interstate pipelines from Obama-era rules that set volatile organic chemical (VOC) and methane emission restrictions is headed for a federal court date.
China Crude Storage Flows Accelerate as Last of Cheap Oil Offloads
China pumped more crude oil into storage in September reversing two months of drawdowns as the world's largest oil importer continued to work through massive purchases made earlier this year when prices plunged.
Canada’s LNG Prospects: Real Need, Real Limits
A recent report from the Conference Board of Canada, funded by the Canadian LNG Alliance, suggests that the country could be exporting as much as 56 mtpa of LNG worth $8.36 billion (C$11 billion) by 2034.
Oil Dips on COVID-19 Resurgence, Fears of More Supply
A surge in COVID-19 cases across Europe and the U.S. in the past few weeks is causing concern throughout the industry of a continued drag on demand, evidenced by a dip in oil prices on Friday.
A Little Help for Our Friends?
With oil and gas industry workers being especially hard hit by fallout from the coronavirus, a bipartisan group of lawmakers set out a few months ago to secure assistance for those in the sector who need it.
EU Considers Binding Methane Emissions Standards for LNG
The European Union has released a new draft of proposed standards on natural gas within the bloc in an effort to limit methane emissions.
- Freeport LNG Plant Runs Near Zero Consumption for Fifth Day
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
- Mexico Seizes Air Liquide's Hydrogen Plant at Pemex Refinery
- Kinder Morgan Declares Force Majeure on West Texas Gas Pipeline After Fire
- Williams Delays Louisiana Pipeline Project Amid Dispute with Competitor Energy Transfer
- Pipeline Hydro Test Pressure Determination
- Venezuela Proposes Alternative Payment Plan as Weak Bids Surface in Citgo Auction
- Baker Hughes Wins Contract for Huge Aramco Gas Expansion Project
- Japan Looks at Developing Domestic Pipelines Sector
- Enbridge Picks Contractors for Great Lakes Tunnel Project, Securing Line 5 Pipeline Route
