Industry News

US Buys 3 Million Barrels for Oil Stockpile, Announces Plan for 3 Million More

The U.S. Department of Energy said on Friday it awarded supply contracts to five companies to deliver 3 million barrels of crude oil to the Strategic Petroleum Reserve in August at an average price of $73 per barrel.

Russia's Novatek Offered Argentina Know-How to Liquefy Gas from Vaca Muerta

Last year, Russia's largest producer of LNG Novatek offered technology to build a plant to produce the gas from Argentina's Vaca Muerta field, a highly-placed source familiar with the proposal said. However, the talks have since broken off.

LNG Developer Venture Global Spars with Customers Over Cargoes

Venture Global LNG, which is building three multibillion-dollar U.S. LNG processing plants, is sparring with two customers of its first project over mechanical failures that have prevented commercial deliveries a year after initial shipments began.

Gas and LNG prices pick up slightly

Prices pick up slightly but continue to remain deflated worldwide; prices did not respond as they did in 2022 despite disruption of gas pipeline supplies in Europe by multiple maintenance works.

New analyser measures carbon dioxide in natural gas pipelines

KECO offers CarbonHound CO2 Gas Analyzer as an accurate, cost-effective, and low maintenance method to detect and measure carbon dioxide in natural gas pipelines.

Climate Council: “Denmark is actively trying to solve the energy crisis by worsening the climate crisis”

The council encourages the Danish government to close the loophole which still allows for oil and gas to be extracted from the North Sea towards 2050.

Rising to the challenge

Natural gas blended with hydrogen is increasingly being seen as an important solution in the move toward a net-zero economy, says Rodrigo Quintero Bejarano, Endress+Hauser.

Vestas lands Scottish order of 221MW

The Danish turbine maker will deliver 49 turbines to the North Kyle wind farm.

TotalEnergies wins 1GW PPA in Kazakhstan

The agreement between the French company and Kazakhstan is set to span 25 years.

Scientist: Cooling of Zaporizhzhia plant will continue

According to IAEA, the Zaporizhzhia Nuclear Power Station has enough water for ”some months.” Scientist posits that there is plentiful water.

N2 Solutions names new Business Development Specialist

Supplier of nitrogen services to energy, industrial and utility industries appoints Eric Greenwood as Business Development Specialist.

Ørsted chief exec is “grateful” for open-door project

Closing the open-door scheme sorts as a ”minor catastrophe,” says Mads Nipper, waiving to pursue the scuttled projects.

Maersk Oil Trading merged into new business unit for green energy

The oil trader will become part of a new climate unit at Maersk. All employees will keep their positions, but managerial changes are inbound.

Ørsted issues blue bonds for EUR 100m

Proceeds will be spent on developing green ocean fuels, among other things.

GM takes Ford’s example – to use Tesla’s charging network

The charging network in the US electric vehicle market is approaching an industry standard.

Oil Prices Partially Recover After US, Iran Deny Reported Nuclear Deal

Oil fell by more than $3 on the report that the U.S. would give Iran sanctions relief to export oil in return for Tehran reducing uranium enrichment.

Enbridge Sees Canada Woodfibre LNG Export Plant in Service in 2027

Enbridge Inc.'s Woodfibre LNG partnership in British Columbia was on track to enter service in 2027, Cynthia Hansen, president of gas transmission and midstream at the Canadian energy company, said on Thursday.

Germany Welcomes Construction of Hydrogen-Ready Pipeline with Italy

The 3,300-km (2,050-mile) project is led by four major European transmission system operators (TSOs): Snam, Trans Austria Gasleitung (TAG), Gas Connect Austria (GCA) and bayernets in Germany.

Williams to Complete Two US Natural Gas Pipeline Projects on Time in Q4 2024

U.S. energy company Williams Cos Inc. is on track to complete two natural gas pipeline projects in New Jersey and Louisiana on time by the end of 2024, the company's CEO Alan Armstrong told Reuters at the Reuters Global Energy Transition conference on Wednesday.

IDB Approves $400 Million Loan to Develop Chile's Green Hydrogen Industry

The green hydrogen industry is an opportunity for Chile, the development bank said, due to Chile's ability to produce renewable energy at low cost.

Trans Mountain seeks toll approval

Trans Mountain Corp applies to regulators for tolls on its long-delayed 590 000 bpd pipeline expansion.

Bentley Systems announces iTwin Activate

Co-development programme to accelerate infrastructure engineering software start-ups focused on infrastructure IoT solutions.

Ørsted lowers offshore wind ambitions drastically

The energy company lowers its expectations on both how much offshore wind will been installed by 2030, as wells as the investment sum to be spent on the hitherto main focus. 

Fluxys builds new natural gas and hydrogen pipeline

Infrastructure partner begins construction of first dual-purpose pipeline between Zeebrugge and Brussels that will greatly increase capacity for security of supply.

Ørsted and Vestas enter partnership on net-zero wind farms

Future joint offshore projects will integrate recycled blade procurement and low-carbon steel wind turbine towers.

Ørsted considers abandoning offshore wind projects

If there are no profits on the horizon, Ørsted would contemplate stepping out of existing projects where no final investment decisions have been made.

Saudi oil halt could hurt the country’s economy

Oil prices fall for the third consecutive trading day after Saudi Arabia’s weekend proclamation that it will make cuts to oil production.

Think tank lauds Danish decision to close open-door scheme

Kraka Advisory says a disaster for Danish tax payers has been prevented after policymakers have essentially ended its offshore open-door policy.

IMO marine director calls on carriers to keep up the pace: “Time is against us”

Shipping shouldn’t wait for policymakers to pile on pressure, says IMO director and candidate for the soon-to-be-vacant position as secretary general.

Renewable additions have saved Europe some EUR 100bn

With the global energy crisis as catalyst, the share of newly installed solar panels and wind turbines reached an unprecedented high within the last two years.

DeepOcean Wins Contract for Post-Lay Trenching Work Offshore Mexico

(P&GJ) — DeepOcean’s Mexican operation has been awarded a contract for the provision of post-lay trenching works on 30 km (19 miles) of pipeline offshore Mexico.

EIA: US Crude Inventories Notch Surprise Drawdown on Refinery Runs

U.S. crude oil stockpiles fell unexpectedly last week as refiners cranked out fuel to the highest level since 2019 during the Memorial Day holiday, the Energy Information Administration (EIA) said on Wednesday.

Grand Isle LNG Pitches Plan for LNG Export Facility Offshore Louisiana

(P&GJ) — Grande Isle LNG has put forward a plan for an offshore liquefaction facility with an annual capacity of 4.2 million tonnes. The proposed plant would be in federal waters, specifically on the West Delta blocks, approximately 13 miles off the coast of Plaquemines Parish, Louisiana.

Knight Energy Services Acquires Platinum Pipe Rentals

(P&GJ) — The combined business will have 18 locations across the country, with a fleet of more than 200,000 pieces of rental tools and equipment, including more than 7 million feet of drill pipe and tubing.

Rising Imports, Falling Exports Push US Trade Deficit to Six-Month High

The U.S. trade deficit widened by the most in eight years in April as imports of goods rebounded while exports of energy products declined, a trend that if sustained, could result in trade being a drag on economic growth in the second quarter.

Canadian Pipeline Operator TC Energy Announces Staff Layoffs

Canada's TC Energy is cutting some jobs to "optimize value" a company spokesperson said on Tuesday, without giving details of how many positions have been impacted.

Aramco, ENI Invest in UK-Based Low-Carbon Fuel Venture

The venture units of oil firms Saudi Aramco and Italy's ENI have joined the world's largest passenger carrier United Airlines to invest in British start-up OXCCU's efforts to slash the prohibitively high cost of lower-carbon aviation fuel, the companies said on Wednesday.

Natural gas is here to stay

As each nation assesses its available resources in conjunction with the Paris Agreement, it is critical to consider the role of natural gas over the next few decades.

Industrial Scientific introduces cellular multi-gas monitor

Addition of cellular connectivity to Ventis Pro5 enables users to instantly transmit data to live monitoring software, giving quick visibility into worker and site safety.

New offshore wind plans see Danish government shut down all open-door projects

Only three of the controversial open-door projects will survive new offshore wind deal, backed by every party in the Danish Parliament.

Ørsted won’t have to resort to capital raise, say analysts before capital markets day

Danske Bank expects the Danish utility to launch a new investment prognosis on around DKK 500bn spanning 2023 to 2030.

Magnetic Analysis Corp. celebrates 95 years of leadership

MAC celebrates 95th anniversary in business, a milestone that commemorates nearly a century of service to metals industries.

Ørsted commits to recycling all solar panels

95% of a solar panels are eligible for extraction and used to make new photovoltaics.

Shell and Ocean Winds seek to terminate PPAs on US offshore wind

Surging prices and costs squeeze Southcoast Wind project to such an extent that developers now seek to rebid new contracts to ensure project viability.

Chinese OEM to make green hydrogen in Saudi Arabia

Envision Energy will deliver wind turbines for the world’s largest hydrogen plant. 

Energy crisis offers comeback to oil majors on prestigious list

This year’s Fortune-500 list, probing into US business life, reveals oil majors in tip-top shape.

Oil extends drops as US supply rumors return

“The demand outlook remains an overriding theme,” estimates market strategist. 

US knew about Ukrainian plans to sabotage Nord Stream, says media

In June last year, the CIA gained intelligence about a Ukrainian plot to attack the Nord Stream pipelines, according to the Washington Post.

NKT confirms cable order for offshore wind farm East Anglia Three

The contract is valued at more than EUR 250m and will not change NKT’s financial guidance.

Canadian Overseas Begins Construction to Upgrade Gas Gathering System in Wyoming

(P&GJ) — The construction of the new high-pressure natural gas gathering system for the company's Barron Flats Shannon unit is expected to take two to three months. Phase 1a of the project is budgeted at up to $4.5 million.

Mexico Approves Export Permit for New Fortress Energy’s LNG Project

(P&GJ) — The permit will all New Fortress to export up to 7.8 million metric tons through April 2028, providing ample capacity to support the operations of the 1.4 MTPA Fast LNG facility through the permitted period.

Japan to Invest $107 Billion in Hydrogen Supply Over 15 Years

Japan plans to invest $107.5 billion over the next 15 years to supply the country with hydrogen, the government said on Tuesday, as it accelerates efforts to use the gas to shift to a low-carbon economy.

Canada's Trans Mountain Seeks Toll Approval for Expanded Oil Pipeline

Canadian government-owned Trans Mountain Corp. has applied to regulators for tolls on its long-delayed 590,000 bpd pipeline expansion to Canada's west coast, noting shipping fees would increase if the project costs mount.

Explainer: Black Sea Grain Deal Could Hinge on Ammonia Pipeline

The pipeline used by Russia to pump up to 2.5 million tonnes of ammonia annually for global export to Ukraine's Pivdennyi port on the Black Sea from Togliatti on the Volga River in western Russia has been shut down since Moscow's invasion of Ukraine.

US Had Intelligence of Ukrainian Plan to Attack Nord Stream Pipeline – Washington Post

The United States had intelligence of a detailed Ukrainian plan to attack the Nord Stream pipeline three months before it was bombed, The Washington Post reported on Tuesday, citing leaked information posted online.

UAVOS successfully deploys drones to collect data for pipeline construction

UAVOS drone-based data collection for pipeline construction.

SGN partners with Oxford Flow to verify hydrogen-ready gas networks

Decommissioned pipeline to be tested with 100% hydrogen at facility in Cumbria.

Mountain Valley Pipeline to proceed

Enactment of federal legislation to raise US debt limit ratifies and expedites approvals, declares project completion in national interest.

German shipowners: Availability of green fuel is key to realizing shipping’s climate target

Necessary technologies and shipping’s willingness to adapt to a green future are already present, but the large-scale production of green fuels is missing, says the German shipowners’ association.

Strohm’s TCP solutions installed at Frade field

Composite pipe technology company awarded contract with PRIO to provide composite pipe solutions to support operations at its Frade field.