Regions

Advisor to Assess 'Way Forward' on East Africa Oil Pipeline

South Africa's Standard Bank has hired an independent environmental and social advisor to help assess its involvement in Total's East African Crude Oil Pipeline that environmental groups have opposed.

Europe's Unusually Low Gas Stocks Set to Underpin Prices

European gas storage levels are lower than usual for the time of year and will need to be topped up significantly in the coming months, providing support to wholesale gas prices.

Banks Urged to Steer Clear of East Africa Oil Pipeline Financing

More than 260 charities on Monday urged banks not to finance a $3.5 billion oil pipeline in East Africa, concerned the project could lead to the loss of community land and livelihoods, environmental destruction and surging carbon emissions.

Nigeria's Seplat Cutting Costs, Keeping Acquisitions on the Radar

Nigerian oil and gas company Seplat aims to cut costs and is looking out for acquisitions even after the crash in crude prices eroded its 2020 revenue.

Asian LNG Prices Fall on Lower Heating Demand

Asian liquefied natural gas (LNG) prices fell this week, with less demand for heating in the region and expectations that exports out of the United States will normalize after the Texas storm.

Cold Weather Leads to Near-Record Withdrawals from Underground Natural Gas Storage

Significant demand for natural gas in mid-February led to the second-largest reported withdrawal of natural gas from storage in the United States, according to the EIA's Weekly Natural Gas Storage Report.

Canada's Alberta Sees Budget Deficit Narrowing as Oil Prices Recover

The Canadian oil-producing province of Alberta estimated its 2021/22 budget deficit will shrink to C$18.2 billion ($14.5 billion), as its economy starts to recover from the damage caused by the coronavirus pandemic.

Qatar Pledges $60 million to Pipeline from Israel to Gaza

Qatar coming on board publicly gives another boost to the project, which has a 2023 target date for completion.

18 Companies Quit Nord Stream 2 Pipeline Project

Baker Hughes Co and AXA Group and 16 other companies recently quit work on Russia's Nord Stream 2 natural gas pipeline and will not be sanctioned, according to a document the Biden administration sent to Congress last week which was seen by Reuters.

Russia’s Gazprom Says LNG, Natural Gas Shouldn't Compete in Export Markets

Russia should ensure its natural gas and LNG supplies do not compete in international markets, Gazprom said, amid signs a local LNG rival is becoming increasingly important in the European market traditionally dominated by Gazprom.

Uganda Expects Work on Oil Pipeline with Total to Soon Start

Uganda said the construction of a $3.5 billion oil pipeline with France's Total due to run through neighboring Tanzania was expected to begin shortly.

EIA: U.S. Crude Output Falls 10%, Refinery Runs Drop to 2008 Low

U.S. crude oil production dropped by more than 1 million barrels per day last week during Texas's deep freeze, equaling the largest weekly fall ever, and refining runs tumbled to levels not seen since 2008.

U.S. Trade Groups Urge Biden to Cap Natural Gas Prices After Texas Freeze

Trade groups representing U.S. public power and natural gas companies urged President Joe Biden to declare a gas emergency for last week's extreme weather and authorize the secretary of energy to cap the price of gas.

Canadian Trans Mountain Pipeline Seeks to Shield Insurers from Activist Pressure

Trans Mountain Corp, a firm that operates an oil pipeline owned by the Canadian government, has asked a regulator to keep the identities of its insurers private as activists push them to drop coverage.

An Alberta Petrochemical Complex is at the Heart of Brookfield's Inter Pipeline Bid

Inter Pipeline Ltd's ambitious petrochemical plant was meant to unlock new markets, instead it has left the Canadian company battling cost overruns and vulnerable to a hostile C$7.08 billion ($5.64 billion) takeover from Brookfield Infrastructure Partners.

Traders Supply Mexico With Emergency LNG After Power Crisis

Mexico's state-run power company resorted to LNG imports as natural gas supplies from the southern United States, especially neighboring Texas, were hit by frozen pipelines and rocketing prices caused by a cold snap.

U.S., Canada Move Past Keystone XL Toward Achieving Net Zero Emissions by 2050

U.S. President Joe Biden said that he and Canadian Prime Minister Justin Trudeau agreed to work toward achieving net zero emissions by 2050.

Historic U.S. Interior Pick Tests Senate Support for Biden on Climate

Deb Haaland, the first Native American ever picked for a U.S. cabinet post, was grilled by Republican Senators who want an Interior Secretary more welcoming of oil and gas drilling on federal lands.

Occidental Petroleum Posts Larger Quarterly Loss on Asset Sale

Occidental Petroleum Corp posted a larger-than-expected fourth-quarter loss despite higher oil and gas prices as an asset sale weighed on results.

EU Says it Does Not Need Nord Stream 2, Only Germany Can Block it

The European Union does not need the Nord Stream 2 pipeline for its energy security but any decision to stop the project carrying Russian natural gas to Germany would have to come from Berlin, a senior European Commission official said.

U.S. Energy Regulator to Examine Climate Change's Threat to Power Reliability

FERC, which regulates the interstate transmission of electricity, oil and natural gas and approves fossil fuel projects such as pipelines, could play a big role in President Joe Biden's promise to make the power grid emissions-free by 2035.

Gas Pipeline to Gaza Might Provide a Lifeline, Steady Energy

Talks on a gas pipeline that would cross political fault lines and deliver reliable energy to the impoverished Gaza Strip have moved from the abstract to the concrete in recent weeks.

Munich Re Stops Insuring Nord Stream 2 Amid Sanctions Threat

A subsidiary of Germany's Munich Re will no longer insure the Nord Stream 2 pipeline from Russia to Europe amid the fear of sanctions by the U.S. government.

Brookfield Launches Hostile Bid to Buy Canada's Inter Pipeline

Brookfield Infrastructure Partners said on Monday it formally launched its hostile bid to buy Inter Pipeline Ltd, weeks after the Canadian oil and gas transportation company rejected its unsolicited offer as inadequate.

Design and Engineering Starting for Oil Search’s Pikka Project in Alaska

Papua New Guinea-based Oil Search announced front-end engineering and design is beginning for phase 1 of its Pikka project on Alaska’s North Slope.

Oil Producers Eye Long Road to Recovery as Texas Thaws

Shale oil producers in the southern United States could take at least two weeks to restart the more than 2 million barrels per day (bpd) of crude output that shut down because of cold weather, as frozen pipes and power supply interruptions slow their recovery, sources said.

Australian Gas Networks Looking to Include Hydrogen in Infrastructure

Australia's natural gas pipeline owners are working to future proof their A$75 billion ($59 billion) in assets amid a global push towards clean energy, running tests to blend hydrogen with gas and produce green methane to replace the fossil fuel.

Pipeline to Link Leviathan Gas Field to Egypt LNG Plants

Israel and Egypt have agreed to build a pipeline to connect Israel's offshore Leviathan natural gas field to liquefied natural gas (LNG) terminals in northern Egypt, the Israeli minister said.

Biden Admin Designates Russian Ship as Helping to Build Nord Stream 2 Pipeline

The Biden administration identified a Russian ship and a company it believes are helping to build the Nord Stream 2 pipeline, but the entities had already been sanctioned by the Trump administration and the project's opponents in Congress said the move would do little to halt work on it.

Inter Pipeline Undecided on Strategic Options after Brookfield Offer

Canada's Inter Pipeline Ltd said no decisions have been made as it initiates a strategic review of its options, a week after rejecting an unsolicited bid from its largest shareholder, Brookfield Infrastructure Partners.