Phillips 66 sells stake in Texas pipeline to $865 million
Phillips 66 announced on Monday that it will sell its 25% stake of the Gulf Coast Express pipeline, located in Texas, to an ArcLight Capital Partners affiliate for $865 millions. This puts the U.S. refiner in a position to surpass its asset sale goal.
US Energy Department: Two LNG reviews must be waited for by regulator
The U.S. Department of Energy announced on Tuesday that it will not be able to finish its reviews of two proposed liquefied gas export terminals planned for Louisiana until an independent regulatory agency completes their environmental assessments of these projects.
USDoE: LNG Reviews must await EIA's
The U.S. Department of Energy announced on Tuesday that it will not be able to finish reviews of two projects for liquefied gas in Louisiana until a regulatory agency independent of the Department has completed its environmental…
US Diesel Exports to ARA Set to Rise
Diesel shipments from the U.S. Gulf Coast to Europe's main trading and refining hub, the Amsterdam-Rotterdam-Antwerp (ARA) region, are set to rise owing to improving export margins on the back of scarce supply in Europe and rising U.S.
Poten & Partners addresses Rising LNG Terminal Costs
Rising costs of building and equipping new U.S. liquefied natural gas plants will reduce the competitiveness of U.S. gas exports, LNG analysts at Poten & Partners predicted on Tuesday.The Biden administration's export permitting…
Woodside CEO: Louisiana LNG project to be partnered with several companies by March
Woodside Energy's CEO said that the company expects to have several partners in its Louisiana liquefied gas project by the time it gives financial approval to the U.S. Project, which is expected to be the first quarter of 2020.
Woodside's O'Neill says that the LNG market will grow by 50% over the next decade.
Woodside Energy's CEO, who spoke on Tuesday, said that the company expects global demand for liquefied gas (LNG), to increase by 50 percent in the next decade. Over the past decade, the LNG market has grown by 50%. Meg O'Neill…
Woodside: LNG Market to Grow by 50% in Next Decade
Australia's Woodside Energy WDS.AX expects the global market for liquefied natural gas (LNG) to grow by 50% in the coming decade, its CEO said on Tuesday."Over the last decade the LNG market grew by 50%. We anticipate it will grow by another 50% in the coming decade…
US Awards up to $2.2 Billion to Speed Clean-hydrogen Development
The U.S. Department of Energy announced on Wednesday that it had awarded up to $2 billion to centers in the Gulf Coast and the Midwest for the development of hydrogen, a new source of energy which is costly to produce with renewable power.
EIA: US Crude, Gasoline Inventories Rise
U.S. crude oil and gasoline inventories last week rose more than forecast, while distillate stockpiles posted a larger-than-expected draw, the Energy Information Administration said on Wednesday.Crude inventories rose by 545…
Euro Oil Giants Rethink Renewable Balance
Almost five years ago, BP embarked on an ambitious attempt to transform itself from an oil company into a business focused on low-carbon power. The British company is now trying to return to its roots as a big oil and gas player with a growth story to match rivals…
Industry says that the US dependence on Canadian oil should discourage Trump tariffs
Canada's oil industry doesn't expect tariffs to be included in the protectionist measures proposed by Donald Trump, U.S. president-elect. This is because U.S. refineries depend on Canadian barrels. Some Canadian oil industry players saw Trump's victory as a positive…
Woodside and Tokyo Gas discuss stake in US LNG Project
Tokyo Gas and Woodside Energy are in discussions about a possible stake in the multi-billion dollar Louisiana LNG export project. Two people familiar with these talks confirm this. Woodside, a major Australian oil and natural gas company…
Woodside Energy Q3 revenue exceeds expectations and will be delisted from LSE
Woodside Energy, an Australian company, reported on Wednesday a sequential increase in revenue for the third quarter and a record-breaking quarterly output. This was boosted by a faster ramp-up at its Sangomar Project and…
Mexican President says that new Pemex refinery is running at about 80% capacity
The new refinery of Mexico's state-owned Pemex is currently processing crude oil at 80% capacity, according to the president. This represents a significant increase from the latest data released by the company. The Olmeca refinery…
Exxon has secured over 271,000 acres of land in Texas waters to capture CO2 offshore
Exxon Mobil announced on Thursday that it had acquired state leases covering over 271,000 acres of Texas state waters to conduct an offshore CO2 capture operation. Exxon won the lease from the Texas General Land Office after…
Woodside completes Tellurian acquisition for $1.2 billion
Woodside Energy announced on Wednesday that it had completed the acquisition, including the debt, of U.S. Gulf Coast Liquefied Natural Gas export project developer Tellurian. Tellurian's shareholders voted last week in favor…
S&P 500 closes near flat; more data on jobs is awaited. Middle East in focus
S&P 500 closed little changed Wednesday. Technology shares gained, but investors were nervous about Middle East tensions. Also, more U.S. employment data is due this week. Nvidia shares are up, which helped lift the S&P 500 Technology index.
As tensions in the Middle East escalate, futures prices fall; employment data is on tap
U.S. Stock Index Futures fell on Wednesday, as geopolitical tensions and a port strike in the United States kept investors on edge before data that was expected to shed some light on the state of the economy and its monetary policy trajectory.
Natural gas producers ask Harris for answers on the battleground state
Drillers from Pennsylvania, an energy-rich state, called on Democratic presidential nominee Kamala Harris this week to explain her stance on natural gas. The energy industry touts it as a clean fuel but climate activists claim that the fuel is a threat to global warming.
