Regions
Phillips 66 Beats Profit Estimates on Strong Refining, Midstream Performance
Refiner Phillips 66 beat quarterly profit estimates on Wednesday, helped by strong refining margins and gains from its midstream unit, sending its shares up 2.6% to an all-time high of $146.11.
Canada Regulator Clears Latest Trans Mountain Pipeline Delay of Environmental or Safety Concerns
The Canada Energy Regulator (CER) said on Wednesday that it has not noted any environmental or safety concerns with the latest construction challenges to plague the Trans Mountain pipeline expansion.
Poland's Gaz-System Chooses Mitsui O.S.K. Lines for LNG Regasification Unit
Polish pipeline operator Gaz-System has chosen Japan's Mitsui O.S.K. Lines to supply a floating storage and regasification unit (FSRU), it said on Thursday.
Remote Alarm Notification Helps Fuel Increased Gas Production
Accurate, real-time data is essential to succeeding in the oil and gas industry. Engineers need operational data from the field to calibrate equipment, schedule maintenance activities and coordinate with third-party logistics, to keep the flow of product moving.
Using Dry Gas Sealing Solutions to Drive Energy Efficiency
Natural gas serves as the transitional fuel between hydrocarbons and renewables. Centrifugal compressors are crucial for efficiently transporting large volumes of natural gas, utilized across various industries from oil and gas to petrochemicals and LNG.
Woodside Urged to Abandon $57 Billion Santos Merger by Major Shareholder
Woodside should walk away from its proposed $57 billion merger with Santos rather than pay a premium for its smaller rival, a large shareholder said on Thursday, a sign of the deep divide between both sides over fair value.
Santos Amends PNG Stake Sale Terms with Papua New Guinea's Kumul Petroleum
Oil and gas giant Santos said on Thursday it had amended the terms of sale of its 2.6% stake in PNG LNG project to Kumul Petroleum, allowing the Papua New Guinea state-owned firm additional time to pay the purchase price.
India Offers LNG Supply to Sri Lanka for Power Plants
India has proposed to supply LNG to Sri Lanka to help the island nation produce power from its Yughadhanavi and Sobhadabavi power plants, Sri Lanka's Energy Minister said on Thursday.
U.S. Official to Testify on Biden's LNG Export Pause at Senate Hearing
A top U.S. Energy Department official will testify at Feb. 8 Senate Energy Committee hearing looking into President Joe Biden's pause on new approvals for LNG exports, the Energy Department said on Thursday.
Silver Hill Energy Partners to Buy Liberty Resources' Bakken Assets
Silver Hill Energy Partners said on Wednesday it would acquire Liberty Resources II's interests in oil and gas properties and all of Liberty Midstream Solutions in North Dakota for an undisclosed amount.
U.S. LNG Exports Decline in January Due to Arctic Freeze, Plant Outages; Europe Dominates Despite Challenges
Cold weather and outages at second-largest exporter Freeport LNG cut U.S. LNG exports last month below the December record, LSEG ship tracking data showed.
Business News February 2024
Association news, personnel changes and mergers and acquisitions in February 2024!
Global News February 2024
Latest industry developments from around the world!
Methane Standards Hit Pipelines More Gently Than Proposed
The Environmental Protection Agency (EPA) issued final methane performance standards for natural gas controllers and compressors, which will require midstream and interstate pipelines to take a new look at their emission controls.
U.S. House to Vote on Reversing Biden's LNG Exports Pause
The U.S. House of Representatives will vote next month on a measure to overturn the Biden administration's moratorium on approvals of new liquefied natural gas exports, Bloomberg reported, citing a Republican lawmaker.
Marathon Petroleum Beats Profit Estimates, Plans Maintenance Slowdown in Q1 2024
Marathon Petroleum beat quarterly profit estimates on Tuesday, supported by strong refined product margins and high refinery utilization rates, but expects to cut back plant activity sharply at the start of this year for maintenance.
Algeria's Sonatrach, Britain's Grain LNG Sign 10-Year LNG Deal
Grain LNG said on Wednesday it had signed a 10-year deal with Sonatrach to extend the Algerian company's long-term storage and redelivery capacity at Europe's largest LNG import terminal beyond January 2029.
Permian Resources Continues Expansion in New Mexico with $175 Million Deals
The company has acquired about 11,500 net leasehold acres and 4,000 net royalty acres located in Eddy County from undisclosed third-parties.
Former Sempra Energy Chief Behind Efforts to Salvage Driftwood LNG Project
U.S. LNG developer Tellurian chose a Lazard Inc. investment banker to right its struggling Driftwood LNG export project, the company's chairman told investors this week.
Phillips 66 Shuts Section of Oklahoma Panhandle Pipeline After Fire
Phillips 66 said it has shut a section of a natural gas pipeline it operates in the Oklahoma Panhandle after fire and rupture that occurred on Tuesday morning.
Oil Producer Hess Tops Profit Estimates on Higher Bakken, Guyana Output
U.S. oil and gas firm Hess beat Wall Street estimates for fourth-quarter profit on Wednesday, helped by higher production in its Bakken shale and Guyana operations.
AG&P LNG Plans 6 South and Southeast Asian Terminals in Next 2 Years
Atlantic Gulf & Pacific Company (AG&P) LNG aims to make a final investment decision (FID) and start developing six liquefied natural gas terminals in South and Southeast Asia within the next one-to-two years, the company's chief executive said.
Environmental Group Unlikely to Challenge Venture Global’s CP2 Construction Permit Approval
Environmentalists are unlikely to challenge in court regulators' expected approval of Venture Global LNG's CP2 export terminal, activist Bill McKibben told Reuters on Tuesday.
Pipeline Operator Enbridge to Cut 650 Jobs Amid Cost Reduction Efforts
North American energy pipeline operator Enbridge said on Tuesday it will cut its workforce by 650 jobs in a bid to cut costs.
Morocco, Nareva, and GE Vernova Forge Partnership for Green Hydrogen Power Plant in Laayoune
The plant is located in Laayoune, the largest city in Western Sahara, a territory Morocco considers its own but where the Algeria-backed Polisario front seeks to establish its own state.
U.S. Awards $242 Million in SPR Contracts to Exxon, Macquarie, Phillips 66, Sunoco
The Biden administration has awarded Strategic Petroleum Reserve (SPR) contracts for 3.1 million barrels of oil worth more than $242 million to Exxon, Macquarie, Phillips 66 and Sunoco, the U.S. Energy Department said in a statement on Monday.
MPLX Exceeds Q4 2023 Expectations with Surge in Pipeline Volumes
Midstream energy company MPLX on Tuesday reported higher fourth-quarter earnings, beating expectations, as its pipelines transported an increased volume of energy products.
Saudi Aramco's Capacity Cut and Pipeline Incident Trigger 11% Drop in Saipem Shares
Shares in Italian energy contractor Saipem plunged by 11% on Tuesday after damage caused by an incident involving one of its pipe-laying vessels and a decision by Saudi Aramco to drop its oil capacity expansion plans.
ADNOC Gas Inks 10-Year LNG Supply Deal with India's GAIL
ADNOC Gas on Tuesday signed a 10-year agreement to supply 0.5 million metric tons per year of LNG to India's largest natural gas company GAIL.
Trans Mountain Oil Pipeline Faces New Delay Due to Technical Issues
Canada's Trans Mountain said on Monday that it had run into technical issues and faces new delays as it tries to complete the final part of expanding its oil export pipeline.
- Keystone Oil Pipeline Resumes Operations After Temporary Shutdown
- 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
- Enbridge to Invest $500 Million in Pipeline Assets, Including Expansion of 850-Mile Gray Oak Pipeline
