Industry News

Group of EU Lawmakers Seeks Probe of Gazprom's Role in Gas Price Surge

A group of European Parliament lawmakers has asked the European Commission to investigate Gazprom's role in soaring European gas prices, saying the company's behavior had made them suspect market manipulation.

Enbridge Fined $3.32 Million for Failings in Line 3 Replacement Project

The Minnesota Department of Natural Resources fined Enbridge Inc. $3.32 million, citing the Canadian company's failure to follow environmental laws during the construction of its Line 3 oil pipeline replacement.

Manufacturers Urge DOE to Require Reduction in LNG Export Rates

The Industrial Energy Consumers of America sent a letter urging the U.S. Department of Energy to take immediate action to prevent a supply crisis and price spikes for consumers this winter.

Russia's Gazprom Says Europe Gas Prices Could Set New Records

Already high natural gas prices in Europe could scale new heights due to low gas storage levels, Alexei Miller, boss of Russian supplier Gazprom, said on Friday.

Oil Slips to $75 as U.S. Storm Threat Wanes

Oil slipped to about $75 a barrel on Thursday, falling from a multi-week high a day earlier, as the threat to U.S. Gulf production from Hurricane Nicholas receded.

Carbon Capture and Storage Gains Wide Industry Support in Houston

Eleven companies have agreed to begin discussing plans that could lead to capturing and safely storing up to 50 million metric tons of CO2 per year by 2030 and about 100 million metric tons by 2040.

Russian Diamond Producer Tests CO2 Capture Potential by its Ore

State-controlled diamond producer Alrosa has teamed up with Russian scientists to test the ability of its processed ore to absorb carbon dioxide, the company said, adding that initial results of the study have been promising.

Italgas Expects DEPA Deal to Drive Earnings as Greece Looks to Gas

Italgas is working to ready its pipelines in Italy to carry biogases in the future and its experience could be transferred to Greece.

Program to Pacify Nigeria's Oil Delta Stalled by Corruption, its Boss Says

Before the amnesty program, the region had experienced years of full-blown conflict, with armed groups blowing up pipelines and flow stations, kidnapping oil workers and fighting the armed forces.

Gulf Coast Oil Companies Return to Ida Recovery as Nicholas Recedes

Energy companies worked to restore pipeline service and electricity after Tropical Storm Nicholas passed through on Tuesday, allowing them to return to repairing the significant damage caused by Hurricane Ida two weeks ago.

Russia to Consider Rosneft's Access to Nord Stream 2

Russia's energy ministry is due to prepare a report in the coming days on the possibility of Rosneft exporting gas to Europe via the new Nord Stream 2 pipeline, Interfax cited Deputy Prime Minister Alexander Novak as saying on Wednesday.

Maryland Cove Point LNG Export Plant to Start Work Next Week

Officials at Berkshire Hathaway Energy on Wednesday confirmed the pipeline and compressor station maintenance will start on Sept. 20 but would not confirm the shutdown of the liquefaction plant until about the day before an outage.

Colonial Pipeline Shuts, Power Outages Rise as Nicholas Brings Rains, Wind

The largest U.S. fuel line shut down on Tuesday due to power outages caused by Nicholas, which made landfall as a hurricane before weakening on Tuesday, the second U.S. Gulf storm in as many weeks.

Texas Freeport LNG Export Plant Shut During Tropical Storm Nicholas

U.S. LNG company Freeport LNG said on Tuesday all three liquefaction trains at its Freeport LNG export plant in Texas shut, likely due to power outages from Tropical Storm Nicholas.

Enbridge’s Cameron Extension Pipeline Project Nearing Completion

Texas Eastern Transmission’s Cameron Extension pipeline project in southwestern Louisiana is on track to be mechanically complete in October, leading to a November in-service, an Enbridge spokesperson said.

Spire Gets More Time to Operate Missouri St. Louis NG Pipeline

U.S. natural gas company Spire Inc. got permission from federal regulators on Tuesday to keep operating its STL natural gas pipeline in Missouri for another 90 days while regulators consider the next steps for the pipe.

Canadian First Nation Demands Enbridge Reroute Gas Pipeline After 2018 Explosion

A Canadian First Nation in northern British Columbia said on Tuesday it was trying to force Enbridge Inc. to reroute a natural gas pipeline off its reserve lands after the line exploded in 2018, causing residents to flee their homes.

US, EU Pursuing Global Deal to Slash Planet-Warming Methane, Documents Show

The United States and the European Union have agreed to aim to cut emissions of methane by around a third by the end of this decade and are pushing other major economies to join them, according to documents seen by Reuters.

Record Gas Prices Could Hasten Nord Stream 2 Launch, Analysts Say

Record gas prices in Europe could hasten clearance for fuel supplies via Russia's Nord Stream 2 pipeline to Germany, analysts said on Tuesday.

Colonial Pipeline Partially Resumes as Nicholas Brings Rains, Wind

The largest U.S. fuel line resumed partial operations Tuesday as oil and gas facilities weathered hurricane Nicholas' landfall in Texas, suffering less damage than in Hurricane Ida two weeks earlier.

Kinder Morgan, Neste to Retrofit Tank and Piping for Green Fuels Feedstocks

Pipeline operator Kinder Morgan Inc. plans to convert some Louisiana tank and piping infrastructure to hold used cooking oil and other feedstocks for Finnish renewable-fuels giant Neste, the companies told Reuters.

China to Announce Details of Oil Reserve Sales in Due Course

China said on Monday it will announce details of planned crude oil sales from strategic reserves in due course. The vague wording and the lack of detail created some confusion among market watchers over whether the auctions had already taken place or would happen in the future.

Chevron, Enterprise Explore Carbon Storage Business Opportunities

Projects resulting from the evaluation would seek to combine Enterprise’s extensive midstream pipeline and storage network with Chevron’s sub-surface expertise to create opportunities to capture, aggregate, transport and sequester carbon dioxide.

Germany has Four Months to Certify Nord Stream 2 Pipeline

Germany's energy regulator on Monday said it had four months to complete a certification of the Nord Stream 2 gas pipeline after receiving all necessary documents for an application for an operating license from the pipeline company.

EIA Expects U.S. Natural Gas Consumption to Decline Through 2022

The Energy Information Administration forecasts natural gas consumption will decline in all end-use sectors in the U.S. except in the industrial sector and for other non-sector-specific uses (lease and plant fuel, pipeline and distribution use, and vehicle use).

Germany's Merkel Seeks to Calm Nord Stream 2 Fears

Merkel asserted that Ukraine will remain a transit land for Russian gas during a farewell visit to Poland during which also struck a conciliatory tone on Warsaw's conflict with the European Union over judicial reforms.

U.S. Reassures Allies Over Nord Stream 2 but Calls it a 'Reality'

A senior U.S. envoy said on Saturday he had delivered reassurances to Ukraine and Poland on mitigating any threat posed by Russia's Nord Stream 2 gas pipeline, but that the project was now a "reality.”

Norway Offers Two New Offshore Areas for CO2 Storage

Norway is offering two new offshore areas for companies interested in developing carbon dioxide storage, the oil and energy ministry said on Friday.

U.S. Loans Exxon Another 1.5 Million Barrels of Oil from Emergency Reserve

The U.S. Energy Department said it approved a second loan of 1.5 million barrels of oil to Exxon Mobil Corp from the Strategic Petroleum Reserve after damage from Hurricane Ida devastated offshore oil production.

Russia Completes Nord Stream 2 Construction, Gas Flows Yet to Start

Gazprom said it had finished construction of the Nord Stream 2 subsea pipeline to Germany, allowing Russia to potentially double lucrative gas exports to Europe via the Baltic Sea while bypassing political foe Ukraine.

BSEE: 95% of GoM oil production shut-in as operators begin assessment following Ida

The US Bureau of Safety and Environmental Enforcement continues to work with offshore operators and other state and federal agencies following Hurricane Ida’s passage through Louisiana.

HEQ Deepwater acquires 20% interest in Shenandoah development

HEQ Deepwater, Houston, closed a deal Aug. 25 to acquire a 20% working interest in the ultra-high-pressure Shenandoah development in the US Gulf of Mexico from an affiliate of Beacon Offshore Energy II LLC.

BSEE: Over 95% of current Gulf of Mexico oil production shut-in ahead of Hurricane Ida

Offshore oil and gas operators in the US Gulf of Mexico evacuated platforms and rigs ahead of Hurricane Ida over the weekend.

BSEE: Over 90% of current Gulf of Mexico oil production shut-in ahead of Hurricane Ida

Offshore oil and gas operators in the US Gulf of Mexico continued preparations ahead of Hurricane Ida over the weekend.

BSEE: Nearly 59% of current Gulf of Mexico oil production shut-in ahead of Hurricane Ida

Offshore oil and gas operators in the US Gulf of Mexico are evacuating platforms and rigs ahead of Hurricane Ida.

Petrobras enters negotiations for Potiguar cluster divestment

Petrobras has started the negotiation phase of divestment of the Potiguar cluster, which includes 26 concessions of onshore and shallow water production fields, including the 39,600 b/d Clara Camarão refinery, in the state of Rio Grande do Norte.

Rosneft begins geological research on eastern Arctic shelf

Rosneft Oil Co. has implemented a comprehensive long-term research program in the Arctic. The expedition started from Murmansk and will include geological, weather, and environmental surveys.

Midland-Petro, Andros Capital close Permian basin drilling JV

Midland-Petro DC Partners and Andros Capital Partners have closed a joint venture under which Andros affiliate Andros Permian will fund about $150 million to participate in a Midland basin development drilling program.

i3 Energy closes deal to acquire Alberta assets from Cenovus

A wholly owned Canadian subsidiary of i3 Energy PLC has closed the acquisition of Central Alberta assets from Cenovus Energy Inc. for a $53.7 million.

bp awards marine services contract for global operations

bp has awarded a framework agreement to Global Maritime to provide marine services for bp operations globally. The agreement, to begin immediately, includes marine vessel assurance, engineering, project operations, HSSE, and general marine consultancy.

ExxonMobil, PNG government to resume P’nyang gas negotiations

The Government of Papua New Guinea and ExxonMobil, operator of the PNG LNG project, will re-engage in negotiations for development of the P’nyang gas project in the country’s Western Highlands.

EIA: US crude inventories down 3.2 million bbl

US crude oil inventories for the week ended Aug. 13, excluding the Strategic Petroleum Reserve, decreased by 3.2 million bbl from the previous week, according to data from the US Energy Information Administration.

Bowline Energy acquires Williston basin assets

Bowline Energy LLC (formerly Meadowlark Resources LLC), Denver, has acquired Nine Point Energy's Williston basin assets for $250 million through a Chapter 11 Section 363 process approved by the bankruptcy court and closed Aug. 9.

TAQA removes Brae Bravo topsides

Abu Dhabi National Energy Co. PJSC (TAQA) completed topside removal of the Brae Bravo platform in block 17/7a, UK Central North Sea.

Petrobras, Sonangol enter binding phase for Potiguar basin asset sale

Petrobras and Sonangol have started the binding phase for sale of the total stakes of both companies in the onshore exploratory block POT-T-794, part of the BT-POT-55A concession, in the Potiguar basin of Rio Grande do Norte, Brazil.

Esso lets survey contract for work offshore Guyana

Esso Exploration and Production Guyana Ltd. has let a contract to Oceaneering International for two surveys offshore Guyana. The surveys are scheduled to begin in this year’s third quarter.

Petronas advances offshore Malaysia CCS plans

Petronas Carigali Sdn. Bhd. awarded a conceptual engineering design contract to Xodus for the Kasawari carbon capture and storage (CCS) project, offshore Malaysia.

PNG PM says any Santos-Oil Search merger should maintain high local presence

Papua New Guinea Prime Minister James Marape has warned Santos Ltd. and Oil Search Ltd. that he expects any merged entity of the two companies to continue a significant local presence in the country.

EIA: US crude inventories up 3.6 million bbl

US crude oil inventories for the week ended July 30, excluding the Strategic Petroleum Reserve, increased by 3.6 million bbl from the previous week, according to data from the US Energy Information Administration.

EIA: US crude inventories down 4.1 million bbl

US crude oil inventories for the week ended July 23, excluding the Strategic Petroleum Reserve, decreased by 4.1 million bbl from the previous week, according to data from the US Energy Information Administration.

Petrobras signs contracts for Buzios field FPSO

Petrobras let contracts to SBM Offshore for the lease and operation of FPSO Almirante Tamandaré for 26.25 years. The contracts follow the signing of the binding letter of intent signed earlier this year.

Hess sets new greenhouse gas reduction targets

Hess Corp. has established a 5-year greenhouse has (GHG) emission target to 2025. The company intends to reduce operated Scope 1 and 2 GHG emissions intensity by 44% and methane emissions intensity by 52% from 2017.

Neptune lets Cygnus subsea inspection contract

Neptune Energy today let a subsea inspection contract to Fugro for work on Cygnus gas field in the UK southern North Sea.

EIA: US crude inventories up 2.1 million bbl

US crude oil inventories for the week ended July 16, excluding the Strategic Petroleum Reserve, increased by 2.1 million bbl from the previous week, according to data from the US Energy Information Administration.

Shell to appeal court ruling in Netherlands climate case

Royal Dutch Shell PLC confirmed that it will appeal a May ruling issued by the District Court in The Hague that Shell must reduce its global net carbon emissions by 45% by 2030 compared to 2019 levels.

Mari signs farm-in for Pakistan Margala block

Mari Petroleum Co. Ltd. executed a farm-in agreement with MOL Pakistan Oil and Gas Co. BV to acquire working interest in Pakistan’s Margala block.

EIA: US crude inventories down 7.9 million bbl

US crude oil inventories for the week ended July 9, excluding the Strategic Petroleum Reserve, decreased by 7.9 million bbl from the previous week, according to data from the US Energy Information Administration.

Plains All American, Oryx Midstream create Permian basin JV

Plains All American and Oryx Midstream Holdings have entered into a definitive agreement to merge assets, operations, and commercial activities within the Permian basin into a new joint venture.

EIA: US crude inventories down 6.9 million bbl

US crude oil inventories for the week ended July 2, excluding the Strategic Petroleum Reserve, decreased by 6.9 million bbl from the previous week, according to data from the US Energy Information Administration.

Tullow awards integrated EPCI contract for Jubilee South East development

Tullow Ghana Ltd. has let an integrated engineering, procurement, construction, and installation (iEPCI) contract to TechnipFMC for the Jubilee South East development offshore Ghana.