North America

BP Takes On FERC, Alleges Approval Flaws for Venture Global LNG Plant

BP Plc has challenged U.S. energy regulators' approvals of a Venture Global LNG export facility, arguing the Federal Energy Regulatory Commission (FERC) has failed to enforce its regulations, according to a letter filed with FERC on Monday.

WoodMac: M&A Deals in Permian Basin Exceed $100 Billion in 2023

The value of U.S. oil and gas mergers and acquisitions in the Permian basin this year has reached a record of more than $100 billion after several multibillion-dollar deals, consultancy Wood Mackenzie said in a news release on Tuesday.

Glenfarne's Texas LNG, ABB Ink Deal for Core Equipment in Port of Brownsville Project

(P&GJ) — Texas LNG, a four million tonnes per annum LNG export terminal to be constructed in the Port of Brownsville, and ABB have signed a memorandum of understanding to collaborate on core automation and electrical equipment for the new facility.

LNG Developer Tellurian Names New President as Shakeup Continues

Tellurian said on Monday it appointed a new president and general counsel, days after the U.S. liquefied natural gas (LNG) developer ousted co-founder Charif Souki as chairman.

Oil Extends Gains on U.S. Strategic Reserve Purchase

Oil prices inched higher on Monday, extending gains for a second session as U.S. efforts to replenish strategic reserves provided some support, although concerns of crude oversupply and softer fuel demand growth next year lingered.

TC Energy's Coastal GasLink Seeks $737 Million from Contractor Over Project Delays

Coastal GasLink, a Canadian natural gas pipeline partnership operated by TC Energy, is seeking C$1.2 billion ($737 million) from one of its main contractors for construction delays and may be liable for a similar amount if an arbitrator rules against it, court documents showed ahead of a hearing this month.

Occidental Petroleum to Acquire Permian Oil, Gas Producer CrownRock for $12 Billion

Occidental Petroleum said on Monday it would buy Permian basin-focused energy producer CrownRock in a cash-and-stock deal valued at $12 billion including debt, expanding its presence in the largest U.S. oilfield.

Inpex, JERA Urge FERC to Approve Venture Global's CP2 LNG Project in Louisiana

JERA's letter to the U.S. Federal Energy Regulatory Commission (FERC) dated Friday, which followed Inpex's letter on Thursday, reiterated the role of the CP2 LNG project in securing Japan's energy supply.

U.S. LNG Developer Tellurian Ousts Co-Founder Souki as Chairman

Tellurian ousted its chairman and co-founder Charif Souki as an executive officer, the U.S. liquefied natural gas (LNG) developer said on Friday, weeks after auditors raised doubts about the company's ability to cover future expenses.

Sources: Endeavor Energy Explores Sale for as Much as $30 Billion

Endeavor Energy Partners is exploring a sale that could value the largest privately-held oil and gas producer in the Permian basin of the United States at between $25 billion and $30 billion, according to people familiar with the matter.

U.S. Looks to Buy Additional 3 Million Barrels of Oil for Strategic Petroleum Reserve

The U.S. Department of Energy on Friday said it wants to buy up to 3 million barrels of crude oil for the Strategic Petroleum Reserve (SPR) for delivery in March 2024, as it takes advantage of lower prices to start to replenish the stockpile.

Mexico's Pemex Eyeing Later Refinery Start-Up Date, Months After Initial Announcement

Mexican state-owned oil company Petróleos Mexicanos is working to nail down the start-up date at its newest refinery, months after the government said it had begun early output to ramp up to full capacity by December.

Sources: Four Suitors Offer More Than $648 Million for Edison’s Gas Storage Assets

Edison's gas storage assets have attracted offers from four Italian and international suitors, setting the stage for a transaction that could be worth more than 600 million euros ($648 million), two sources familiar with the matter said.

Mexico Pacific Inks 20-Year LNG Supply Deal with Woodside Energy

Woodside Energy said on Wednesday it has signed a deal with energy company Mexico Pacific to purchase 1.3 million tonnes of LNG per annum for two decades to beef up production and optimize operations.

Exxon Outlines $27 Billion Annual Project Spending; Golden Pass LNG Plant Set for 2025 Start-Up

Exxon Mobil will target annual project spending of between $22 billion and $27 billion through 2027, the oil major said in an update on Wednesday that largely continues existing spending and production goals.

EIA: Continental U.S. Kicks Off Winter with Most Natural Gas in Storage Since 2020

The continental United States entered the winter heating season with the most natural gas in storage since 2020, the U.S. Energy Information Administration (EIA) said on Thursday.

Trans Mountain Pipeline Expansion Stalled as Canada Regulator Rejects Variance Request

The Canada Energy Regulator (CER) on Tuesday denied a request from the Trans Mountain Expansion (TMX) project for a variance on a section of oil pipeline under construction in British Columbia, a decision that could delay the 590,000 barrel-per-day (bpd) expansion.

U.S. Coast Guard Finds Sheen Near Oil Spill in Gulf of Mexico

The U.S. Coast Guard said on Wednesday it found a light sheen west of an area in the Gulf of Mexico where it was leading the clean-up of a million-gallon (liters) oil spill for nearly three weeks but could not confirm if the sheen was from that spill.

NGL Energy Partners Launches Open Season for 550-Mile Grand Mesa Crude Pipeline

(P&GJ) — Grand Mesa provides takeaway capacity for crude oil producers in the Denver-Julesburg Basin. It originates in Weld County, Colorado, and extends approximately 550 miles southeast to NGL Crude Cushing’s storage terminal at Cushing, Oklahoma.

U.S. to Release Hydrogen Subsidy Guidance After COP28

The U.S. will release guidance for how hydrogen producers can secure billions of dollars of subsidies embedded in last year’s Inflation Reduction Act sometime this year after the COP28 climate conference in Dubai, U.S. energy advisor John Podesta told Reuters on Wednesday.

Venture Global LNG Expects Extended Start-Up at Second Plant, Says CEO

A Venture Global LNG export plant due to begin operating in 2024 will undergo a lengthy startup similar to its Calcasieu Pass LNG facility, with customers likely to receive their first cargoes in 2026 at the earliest, CEO Mike Sabel told Reuters.

Republican States Challenge EPA's Pipeline Veto Power Expansion in Federal Lawsuit

A group of 11 Republican-led states and energy industry groups have challenged a U.S. Environmental Protection Agency rule that bolsters state and tribal veto power over pipelines and other major infrastructure projects that might pollute rivers and streams.

Trans Mountain Pipeline Expansion Faces Further Delays, Posing Financial Challenges for Canadian Oil Producers

Canadian oil producers are bracing for further potential delays to the Trans Mountain pipeline expansion (TMX) that could cost them millions of dollars in lost revenues in coming months after they ramped up production ready to fill the expanded line, meant to unlock access to Asia.

Canadian Wind-Hydrogen Project Delayed One Year in Race to First European Exports

One of Canada's first projects to produce emissions-free hydrogen with wind energy has delayed its start by one year because operator World Energy GH2's European customers need more time to develop special infrastructure to handle the product, the company said.

Kinder Morgan Forecasts 11% Profit Increase for 2024 on Growing Demand

Kinder Morgan on Monday forecast higher 2024 earnings as the U.S. pipeline operator bets on increased demand for transporting crude oil and gas liquids.

Record U.S. Oil Output Challenges Saudi Mastery

U.S. crude oil production set a record for the second month running in September, highlighting the challenge to Saudi Arabia and its OPEC+ partners as they cut their own production to boost prices.

CO2 Projects Look to Overcome Siting Opposition

(P&GJ) – In the last two years, while the Biden administration has been embracing direct-air capture (DAC) hubs, Houston-based Occidental Petroleum Corp. (Oxy) and its one-time spinoff, California Resources Corp. (CRC), have been leading increased industry interest in the transportation and storage of carbon, in the transition to a zero-emissions energy world.

U.S. Buys 2.73 Million Barrels of Oil for Strategic Petroleum Reserve

The U.S. Energy Department said on Thursday it has finalized contracts to purchase 2.73 million barrels of oil for the Strategic Petroleum Reserve (SPR).

Investors Flock to U.S. Natural Gas ETF Despite Price Slump

Investors have been piling into an exchange-traded fund (ETF) designed to track U.S. natural gas prices, in spite of the commodity's dismal performance in 2023.

U.S. LNG Exports in November Approach Record Levels Amid Higher Output

U.S. liquefied natural gas (LNG) exports in November rose to the second highest monthly production level on record, 7.99 million metric tons of the superchilled gas, according to tanker tracking data.