Industry News

Oil and gas operators encouraged to adopt AI in light of rising costs

Element is urging those who look after the maintenance of plant and equipment on offshore platforms, within oil refineries, and in petroleum pipelines, to explore the potential of AI technology to help reduce downtime.

Pipeline Incident in Missouri Triggers Natural Gas Leak, No Injuries Reported

A natural gas pipeline operated by Southern Star Central Gas Pipeline was struck by a construction crew in Missouri’s Cass County on Sept.6

Poland's Orlen Secures Exclusive LNG Trans-shipment Deal in Lithuania

Polish top refiner Orlen has signed a five-year agreement with Lithuanian oil and gas logistics firm KN Energies for exclusive use of a waterfront LNG transshipment station in Klaipeda.

Offshore Norway wants contracts for difference to last longer than 15 years

”It is crucial that the ceiling is not set too low,” writes the industry association in its consultation response.

Bentley Systems acquires 3D geospatial company Cesium

Combination of Cesium plus iTwin offers developers the most comprehensive digital platform for the built and natural environment.

Permit errors could put stopper in Danish oil production

The main flaw in Denmark’s oil and gas licensing practices is similar to the one that stalled offshore wind projects for years, the Danish Energy Agency admits. A consequence could be revoked permits.

Chief analyst: Oil market hit by a “near perfect storm”

Uncertainty about production output in OPEC+ is just one of several challenges in the oil market, according to the chief analyst at Global Risk Management.

Winners of first multi-state offshore wind tender revealed

According to media reports, Ørsted had also bid in the US-based tender, but has not been awarded a project.

Azerbaijani President Confident on Ukraine Gas Route Talks

Azerbaijani President Ilham Aliyev said on Friday he was optimistic of a breakthrough in talks between Moscow and Kyiv to keep Russian gas flowing through Ukraine to several European countries.

Goldman Sachs Warns AI Could Weigh on Oil Prices, Reshaping Market Dynamics

Artificial intelligence could hurt oil prices over the next decade by boosting supply by potentially reducing costs via improved logistics and increasing the amount of profitably recoverable resources, Goldman Sachs said on Sept. 3.

Pipeline Incident in Raymore, Missouri Triggers Natural Gas Leak, No Injuries Reported

A natural gas pipeline operated by Southern Star Central Gas Pipeline was struck by a construction crew in Missouri’s Cass County on Sept.6

U.S. Regulators Approve Startup Preparations for Plaquemines LNG Plant in Louisiana

Federal regulators on Friday gave Venture Global LNG permission to begin preparations for the start-up of liquefied natural gas equipment at its Plaquemines export plant in Louisiana, taking a step closer to first LNG production for the facility, about 20 miles south of New Orleans.

Texas Regulators Reject Gas Plant Proposal from State Financing Program Over Due Diligence Failures

Texas energy regulators have denied public funding requests for a proposed power plant days after naming the project as a finalist for a new state program aimed at building out natural gas-fired electricity generation, state documents show.

Poland's Orlen Secures Exclusive LNG Transshipment Deal in Lithuania

Polish top refiner Orlen has signed a five-year agreement with Lithuanian oil and gas logistics firm KN Energies for exclusive use of a waterfront LNG transshipment station in Klaipeda.

US launches new sanctions to curb Russian gas exports

Two companies and a gas carrier transporting Russian LNG have been hit by US sanctions.

2GW offshore wind farm approved by US authorities

This is the tenth commercial offshore wind project approved under Joe Biden’s presidency.

Family office buys out shareholders of wind supplier

Bagger-Sørensen Equity now owns almost 100% of subcontractor Flex Wind. “The wind industry is facing better times, and this has also played a role in the timing,” says the investment firm’s CEO.

ptc 2025 marks 20 years of pipeline innovation in Berlin

The Pipeline Technology Conference (ptc) will celebrate its 20th anniversary in Berlin from 5 - 8 May 2025.

Danish energy sector presents new growth plans for renewable energy: We need to think internationally

The energy sector offers suggestions on how Denmark can unlock its potential as a green superpower. Energy minister calls the proposals very interesting.

FFL Partners announces the sale of Ovarro to Indicor LLC

FFL Partners agrees to sell its investment in Ovarro to Indicor, LLC, a leading diversified industrial company specialising in mission-critical technologies across various niche markets.

Greengo Energy expands its African operations

With two new partnership agreements, the Danish company will make Naibia “a major player in the global green energy market.”

Matterhorn natural gas pipeline moving some gas, say Permian Resources executives

The Matterhorn natural gas pipeline in Texas was moving small amounts of gas from the Permian basin in West Texas toward the Gulf Coast, reports Reuters.

Ørsted withdraws from major Danish PtX project

Skovgaard Energy continues on its own following Ørsted’s decision to pull out from the Idomlund project.

Hydrogen problems have spread like wildfire: Several projects shut down

Several energy companies have struggled to find the financial viability of PtX projects for some time and have thus withdrawn or postponed the projects.

Subcontractor in the wind sector: “We expect to enter new countries”

The Danish subcontractor Resolux wants to enter new markets by 2025. Revenue milestone is also within reach, says the chief exec.

Oil set for deep weekly loss even as OPEC+ delays adding barrels

Oil was poised for the biggest weekly loss in almost a year on persistent concerns about soft demand and ample supply, even as OPEC+ delayed a planned increase in output by two months.

EOG Resources to Increase Utica Shale Activity in Ohio

"The Utica absolutely has the opportunity to be a foundational play," COO Jeff Leitzell said. "If we continue to have the success that we expect to, you can expect us to go ahead now and put more capital there."

U.S. Crude Stockpiles Fall to 1-Year Low as Imports Fall, EIA Says

Crude inventories, excluding the Strategic Petroleum Reserve, fell by 6.9 million barrels to 418.3 million barrels in the week ending Aug. 30, the EIA said, compared with analysts' expectations in a Reuters poll for a 993,000-barrel draw.

Texas Matterhorn Pipeline Begins Gas Flow, Could Boost Waha Prices, Permian Resources Says

The Matterhorn is the biggest gas pipe under construction that is capable of moving gas that has been trapped in the Permian basin, causing prices at the Waha Hub in West Texas to turn negative a record number of times this year.

Report: U.S. Oil, Gas M&A Nears 2023 High as Focus Shifts from Permian

Nearly $100 billion has been spent by U.S. producers on mergers and acquisitions so far this year, and another $46 billion in assets are currently for sale, according to analysts.

Crude Oil Bears Dominate as Market Ignores Bullish Signals: Russell

The response of crude oil markets to a series of developments this week shows how the bearish mindset is dominating the narrative.

Colombia Truck Protests Disrupt Key Pipelines, Threaten Ecopetrol Operations

Protests by truckers in Colombia, who are angry at an increase in diesel prices, have cut off the country's biggest cities and are threatening fuel supplies, though the government insists the hike is fair.

Project delays and cancellations lead Ramboll to downgrade guidance

Ramboll’s earnings have decreased in the first six months of the year. The energy area is one of the bright spots, where demand for advisory services remains high.

Nordic Solar drops IPO and lowers expectations for 2024

The solar developer is preparing to raise money privately rather than through a public listing, which was the previous plan. The raised amount will be used to build new solar plants.

H2 Energy and Ontras to collaborate on hydrogen network

The new collaboration will examine how to connect H2 Energy’s hydrogen plant in Esbjerg with a German hydrogen network.

Phillips 66 divests natural gas assets to Voyager Midstream

The sale forms part of Phillips 66's strategy to monetise non-core assets and streamline operations, details GlobalData.

Crescent Energy Buys Eagle Ford Assets for $168 Million

Crescent Energy has announced the acquisition of assets from a private Eagle Ford operator for $168 million, the company announced on Sept. 4.

Large offshore project appeals for postponement due to turbine supply issues

2.4 GW offshore wind project in crisis as developer can’t find a turbine supplier. GE has dropped its plans, Siemens Gamesa has raised prices, and Vestas just doesn’t fit in, according to the appeal.

US pipeline deals to pick up pace following ONEOK’s spree

Last week’s acquisitions are likely to be a prelude to more M&A in the midstream sector, says Bloomberg News.

Ørsted’s new Hornsea contracts could avert capital raising

According to analysts, the major energy developer can avoid a dilutive capital raising with Tuesday’s tender win.

CIP inaugurates offshore wind farm in Taiwan

For the second time in just under four months, Copenhagen Infrastructure Partners has opened an offshore wind farm in Taiwan.

Chinese turbine manufacturer to build in South Korea

Mingyang has once again teamed up with Unison to install wind turbines in the country.

Bank predicts big win for Cadeler after Ørsted’s victory in UK auction

Cadeler itself has indicated that an offshore wind auction will be decided in the third quarter and could activate a reservation for a wind ship worth EUR 700m.

Chesapeake Energy Continues Curtailing U.S. Gas Output Amid Low Prices, CEO Says

U.S. energy company Chesapeake Energy was still curtailing natural gas output, the company's CEO Nick Dell'Osso said at the Barclays CEO Energy-Power Conference on Wednesday.

Williams to Add 4.2 Bcf/d of Natural Gas Capacity by 2027

The new projects include the 1.8-Bcf/d Louisiana Energy Gateway gas pipeline, which is under construction and expected to enter service in 2025, and the 1.6-Bcf/d Southeast Supply Enhancement, which could enter service by 2027.

U.S. LNG Export Dominance Under Pressure as Europe's Demand Drops: Maguire

The United States has remained the largest exporter of LNG so far in 2024, but a steep drop in selling prices and a sharp swing in export volumes to key markets is likely testing exporter appetite to stay on top.

ADNOC Acquires 35% Stake in Exxon’s Texas Hydrogen Plant

Abu Dhabi state oil giant ADNOC will acquire a 35% stake in a planned Exxon Mobil large-scale hydrogen plant in Texas, the companies said on Wednesday.

Vista Energy to Invest $1.1 Billion in Argentina's Vaca Muerta Shale Expansion

In a push to unlock more of the oil riches buried in a massive shale deposit in Argentina, Vista Energy will invest about $1.1 billion this year as it also aims to cut costs there by double digits, the firm's CEO said.

Argus Launches New Price Quotes for Trans Mountain Pipeline Oil Exports to Asia

Oil pricing agency Argus launched on Wednesday three daily price quotes for crude exported from western Canada's newly expanded Trans Mountain (TMX) pipeline amid rising demand for the oil from Asia.

Williams Denies Report of Buyout Offer to Targa Resources

Williams Companies denied extending any offer to oil and gas transportation firm Targa Resources, after a report said the latter had rebuffed a takeover interest from the former.

Statkraft: Combine green hydrogen and gas with CCS to reduce final emissions

Chief analyst says that more flexibility is needed in the market to offset negative electricity prices, but thinks there are several ways to solve this problem.

More mistakes found in environmental impact assessments of Danish oil fields

After a worrying report was released in 2023, further investigation shows that mistakes have also been made in EIA practices at a large number of other oil fields.

Lhyfe Head of Nordics: A hydrogen pipe is essential for our presence in Denmark

Simplicity rather than elaborate plans is the way forward for establishing a hydrogen pipeline in Denmark, says the Head of Nordics of the French hydrogen producer, Lhyfe. 

Climate appeals case on three Norwegian oil fields kicks off

The court case on whether the development of the three North Sea oil fields should be stopped will run until September 12.

Worley: Trust deficit in US CCS industry threatens net-zero goals

US carbon capture and storage stakeholders must overcome serious trust deficits to meet net zero potential new research shows.

Saipem awarded two offshore contracts in Saudi Arabia

The overall value of the two contracts is approximately US$1 billion.

EUDP receives applications for EUR 100m more than available funding

96 projects have applied for more than a billion Danish kroner in support in the second round of financing run by The Energy Technology Development and Demonstration Programme (EUDP).

Finindus completes investment in CorrosionRADAR

Finindus, backed by steel manufacturer ArcelorMittal and the Flemish Region, completes the latest investment round for CorrosionRADAR.

Pensions advisor and industry association CEO lock horns over green investments

Danish pension funds continue to invest billions of DKK in the green transition. The choice goes against the companies’ duties to ensure the highest possible return, says one pension advisor.

Energi Danmark hires chief risk officer

The Danish energy trader states that the hiring is part of the company’s focus on “strengthening its efforts in areas such as risk management and governance.”