Regions

Venture Global and Grain LNG Ink 16-Year Deal for LNG Supply to UK

Under the agreement, Venture Global will have the ability to access 3 million tonnes per annum of LNG storage and regasification capacity at the Isle of Grain LNG receiving terminal for sixteen years beginning in 2029-equivalent of up to 5% of average U.K. gas demand.

Shell Commits to Developing Nigeria Gas Field to Supply Dangote Fertilizer Plant

Shell has made a final investment decision to build a gas supply facility in Nigeria to feed a fertilizer plant owned by Africa's richest man Aliko Dangote, the company said in a statement.

Italy's Snam Initiates Market Test for Hydrogen Demand, Seeks Interest in Carbon Capture Projects

Snam is officially launching a market test for hydrogen demand in Italy and a collection of expressions of interest for carbon dioxide (CO2) transport and storage, the gas grid operator said on Monday.

Guest Perspective: Aramco’s Best of Both Worlds

Saudi Aramco’s energy strategy should teach The West a lesson: invest in hydrocarbons now. Not only is oil and gas crucial for near- and medium-term energy security and affordability, but there is also a huge amount of money to be made that can be put toward the transition.

U.S. Says Allies 'Reassured' LNG Pause Does Not Affect Current Exports

U.S. allies concerned about steady supplies of LNG are reassured when they understand President Joe Biden's pause on LNG export approvals does not affect currently permitted shipments, a U.S. State Department official said on Monday.

Germany Unveils $17 Billion Subsidy Plan for Hydrogen-Ready Gas Power Plants

Germany's government has agreed plans to subsidize gas power plants that can switch to hydrogen, the economy ministry said on Monday, with a price tag of $17 billion in subsidies as part of efforts to supplement intermittent renewable energy and speed up the transition to low carbon generation.

Indonesia and Eni Partner on Decarbonization Initiatives

Indonesia's Energy and Mineral Resources Ministry said on Friday it had signed a memorandum of understanding with Italian energy group Eni to accelerate its decarbonization programs.

Projects February 2024

East African Crude Pipeline delivers first shipment; Pembina acquires Enbridge’s stake in Alliance Pipeline; KM boosts Permian Highway pipeline capacity by 550 MMcf/d; and more!

OMV Petrom Accelerates Investments in Black Sea Gas Project, Targets 2027 Production

The Neptun Deep Black Sea gas project, one of the European Union's most significant natural gas deposits, is expected to cost $4.3 billion. OMV Petrom is developing it with state-owned gas producer Romgaz.

Delek's Big Spring Refinery Chosen for $95 Million DOE Carbon Capture Pilot Project

Delek US Holdings said on Friday the U.S. Department of Energy has selected its Big Spring refinery for a pilot carbon capture project and would provide up to $95 million of federal funding to support its development.

QatarEnergy Signs 10-Year Condensate Supply Deal with Japan's Mitsui

QatarEnergy has signed a deal to supply Japan's Mitsui & Co. with 11 million barrels of condensate per year for 10 years starting in April, Qatar's state-owned energy company said on Sunday.

Chevron Exceeds Permian Production Estimates, Signals Growth Potential

After a year marked by oil and gas production setbacks, Chevron Corp. on Friday delivered a better-than-expected 10.7% annual gain from the Permian Basin, its top shale-producing region.

Tanzania's TPDC Doubles Stake in Mnazi Bay Gas Field Deal with Maurel & Prom

The Mnazi Bay gas field, in the Mtwara region of the country's south, has an estimated 641 Bcf of recoverable natural gas reserves and contributes nearly half of the gas used to generate electricity in the East African country.

TotalEnergies to Acquire OMV's Malaysian Gas Assets for $903 Million

TotalEnergies has entered into an agreement with OMV for the acquisition of OMV's 50% interest in SapuraOMV Upstream Sdn, a Malaysian independent gas producer and operator.

Enterprise Products Records 15% Growth in Q4 Crude Pipeline Volumes

U.S. pipeline operator Enterprise Products Partners said on Thursday its crude oil volumes last quarter grew 15% to a record 2.6 million barrels per day, as more oil flowed through its lines despite lower prices.

Exxon Beats Estimates, Closes 2023 with $36 Billion Profit

Exxon Mobil on Friday posted a better-than-expected $36 billion profit for 2023, lifted by fuels trading and higher oil and gas production.

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 is widely considered the bridge fuel in the transition from hydrocarbons to renewables like wind, solar and geothermal. And centrifugal compressors play a critical role in efficiently transporting the large volumes of natural gas used as a feedstock and fuel source in industries ranging from oil and gas to petrochemicals to 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.