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.
Shell Plans $1 Billion Investment to Boost Natural Gas Output in Nigeria
Shell Plc sees a $5 billion offshore oil investment opportunity in Nigeria and pledged to spend a further $1 billion in five to 10 years to boost natural gas output for domestic supplies and exports, a presidential spokesperson said on Thursday, citing Shell's director of upstream operations.
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.
Fluxys, OGE, Wintershall Dea Partner for CO2 Transport from Southern Germany to Belgian Hubs
(P&GJ) — Fluxys Belgium, Wintershall Dea, and OGE are joining forces to create a CO2 corridor transporting emissions from Southern Germany to Belgium's developing CO2 export hubs for storage in the North Sea reservoirs.
Cepsa CEO: Hydrogen Urgently Needs Demand, Infrastructure
Cepsa, an oil, gas and chemicals company, is investing more than 3 billion euros ($3.3 billion) to create Europe’s largest clean hydrogen hub and an additional 2 billion euros in solar and wind facilities in southern Spain, making use of prime locations on the Mediterranean and Atlantic for exportation to northern Europe.
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.
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.
DBRS Morningstar: Evaluating the credit impact of low-carbon alternatives on P&M energy companies
DBRS Morningstar published a commentary providing an overview of the new low-carbon businesses that P&M companies are evaluating/investing in and outline the possible credit considerations of these investments.
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.
China Introduces Simplified Regional Pricing System for Natural Gas Transportation
China will simplify freight rates on its natural gas pipeline network by introducing a "one area, one price" system across four broad areas of the country, according to a document released by the state planner on Tuesday.