ONEOK reports higher third-quarter profits as acquisitions payoff
ONEOK, the U.S. oil and gas pipeline operator, reported a higher profit in the third quarter on Tuesday. This was due to the robust volumes in Rocky Mountain Region as well as the effect of a number of acquisitions. ONEOK has diversified its portfolio over the last two years through acquisitions, including a Gulf Coast NGL pipe system from Easton Energy as well as Medallion Midstream, EnLink Midstream, and Medallion Midstream. ONEOK acquired the…
Expand Energy, a Natgas producer, posts a quarterly profit as production surges
Expand Energy, the U.S. natural-gas producer, reported a profit on Tuesday for the third quarter, compared to a loss a year ago, due to increased production and higher commodity prices. The average U.S. Natural Gas prices increased by more than 26 percent year-on-year in the third quarter. This was due to strong LNG exports, and a growing demand driven by AI-focused data centres. Expand Energy was created after Chesapeake Energy acquired Southwestern Energy in 2013, creating the largest independent natural gas producer of the U.S.
Carbon Measures Global Accounting Group to Form Independent Panel
Carbon Measures will create an independent panel that will guide the work of this global carbon accounting initiative, according to its CEO. The group, which was founded a week earlier by ExxonMobil and other members such as BASF, Banco Santander and BASF, is aiming to develop a system of accounting to eliminate double counting and reward those who become more sustainable. Amy Brachio, CEO of Carbon Measures, said that other supporters include Abu Dhabi National Oil Company, Bayer, Linde, EQT, and Mitsubishi Heavy Industries.
China drives global underground gas storage growth, International Gas Union says
In a report published on Monday, the International Gas Union said that China would lead global underground storage expansion by 2025. It will add 6 billion cubic meters (bcm), or working gas volume, to increase its total capacity to 19,8 bcm. The world's underground gas storage capacity has increased by 10 billion cubic meters since 2022. China, which contributed the largest increase, is now in sixth position, behind United States, who have 138 bcm. Next are Russia, Ukraine and Canada, followed by Germany.
U.S. natural-gas sector deals will surge in 2025 due to AI and LNG demand from Asia
Analysts say that U.S. Natural Gas dealmaking is expected to increase in 2025, due to the record demand for power from AI data centres, increased LNG exports, and renewed Asian investments. According to the U.S. Energy Information Administration, data centers will be responsible for a surge in electricity demand that is unprecedented this year. The price of benchmark gas dropped sharply last year, from the multi-decade highs set in 2022, after sanctions against Russia slowed negotiations.
EU sanctions against Russia include two Chinese refineries and the trader Chinaoil
The EU has added Chinaoil Hong Kong (a trading arm for PetroChina) and two Chinese refineries with a combined daily capacity of 600,000.00 barrels to its list of sanctions against Russia, according to the EU Official Journal published on Thursday. Liaoyang Petrochemical is one of the two refineries, and Shandong Yulong Petrochemical is another. Although the Chinese listings were not the first in the EU, they were the most important from an economic perspective.
Woodside signs Williams as an investor for Louisiana LNG construction to accelerate
Woodside Energy, a company based in Australia, has hired U.S.-based Williams to be an investor and operator of the Louisiana Liquefied Natural Gas Plant. This is to benefit from its infrastructure expertise and reduce costs as construction increases. Williams will receive a 10% stake of Louisiana LNG Holding Company and 80% ownership in the Driftwood Pipeline, which will provide feed gas for the $17.5 billion project. Williams, which operates over 33,000 miles (53.108 km) of pipe across 24 U.S.
Wall Street Journal, October 23,
These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. As frustration grows in Washington over the conflict in Ukraine, U.S. president Donald Trump announced new substantial sanctions against Russia's largest oil companies, Lukoil, and Rosneft. He also targeted nearly 30 of their subsidiaries. U.S. officials have confirmed that the Trump administration has lifted an important restriction on Ukraine using some long-range rockets provided by Western Allies.
JERA, Japan's largest power generator, will buy US shale-gas assets for $1.5billion
JERA, Japan's largest power generator, announced on Thursday that it would acquire natural gas assets in the United States. This will be its first venture into shale-gas production. JERA announced that it had reached an agreement with Williams and GEP Haynesville II, pipeline operators in the Haynesville Shale Basin in western Louisiana. The agreement is for JERA to purchase 100% of their interest in the South Mansfield Gas Field. GEP Haynesville II, a joint venture of GeoSouthern, Blackstone and Williams, is supported by Blackstone.
Williams invests $1.9 billion in Woodside's Louisiana Liquefied Natural Gas venture
The companies announced that U.S.-based Williams would spend $1.9 billion to develop LNG facilities and a pipe for Woodside Energy’s $17.5 billion project in Louisiana involving liquefied gas. Williams announced on Wednesday that the pipeline operator would take a 10% stake and simultaneously purchase an 80% ownership and operatorship in the Driftwood Pipeline for $250 million. Woodside expects to receive a total of $378m under the agreement. Australia's largest energy company said this in an announcement made separately on Thursday.
EQT anticipates that the 2026 natgas output will be in line with the 2025 exit rate
EQT Corp, a U.S. energy company, said Wednesday that it expected to maintain natural-gas production in 2026 at levels comparable with its exit rate for 2025. This is due to lower sales forecasts for the current quarter. At midday, shares of the Pennsylvania-based firm were down 3.8%. The company anticipates a total sales volume between 550 and 600 billion cubic foot equivalents (Bcfe) for the fourth quarter. This is lower than the 634 Bcfe of the third quarter.
EQT beats quarterly profit estimates on strong natural gas prices, sales volumes
The U.S. energy company EQT Corp. beat Wall Street expectations for the third-quarter profits on Tuesday. This was due to higher natural gas prices as well as sales volumes. Following the results, shares of the company increased by 1.9% on extended trading. According to the Energy Information Administration’s Short-Term Energy Outlook, both demand and production of natural gas in the United States are expected to reach record levels by 2025. Energy sector is benefiting from an increase in natural gas demand, supported by LNG imports.
NextDecade receives positive FID for Train 5 of the Rio Grande LNG Project in Texas
NextDecade, a U.S. producer of liquefied gas, announced on Thursday that it had made a final investment decision in favor of the fifth liquefaction train (also known as a liquefaction station) for its Rio Grande project. The company's shares rose by over 4% during extended trading as this announcement marked the 5th positive FID of an LNG project in the U.S., the world's biggest exporter of super-chilled fuel. After President Donald Trump lifted his moratorium on new LNG export permits shortly after assuming office in January, the U.S.
Santander combines digital bank with consumer finance unit in Europe
Santander, a Spanish bank, announced on Wednesday that it would merge its digital lender Openbank into its consumer finance division in Europe to streamline its structure and cut costs. Santander announced that the new entity would manage Santander’s consumer finance operations, under the Openbank name, beginning with Germany and other markets following. Openbank and Santander Consumer Finance are part of the global digital consumer banking business. This business in Europe has 84 billion euro ($98 billion) of customer deposits.
Spain's gas infrastructure is ready for a faster Russian LNG ban. CEO of the company says
Enagas, the Spanish gas grid operator, is prepared to ban Russian Liquefied Natural Gas by 2027 in case the EU moves up its phase-out date to this date. This was stated by Arturo Gonzalo, CEO of Enagas. The EU is currently negotiating legal proposals that will end Russian gas and oil imports in January 2028. Sanctions would also ban Russian LNG one year earlier. This is part of Brussels' efforts to deny the Kremlin revenue to fund its Ukraine war.
Sources claim that Colonial Pipeline will cut jobs.
According to two sources with knowledge of the situation and a statement from the company, The Colonial Pipeline Company informed its employees that it plans to reduce some positions this week. In response to questions about job cuts, the company stated: "We informed our employees that a recent evaluation to ensure our organization was best aligned in order to continue meeting our business strategies and priorities safely will result in some changes…
ARM Energy to Invest $2.3b in Mustang Express Pipeline
ARM Energy Holdings said on Thursday it has reached a final investment decision on its $2.3 billion Mustang Express Pipeline project in Texas, along with its partner Pacific Investment Management Company.ARM, an energy marketing firm, said the project benefits from a long-term agreement with Sempra for shipment of natural gas for its Port Arthur LNG Phase 2 project, which recently achieved its own final investment decision.Earlier this month, Sempra said it would sell a 45% stake in its infrastructure unit for $10 billion…
Commonwealth LNG wants to extend the time for building a planned export facility in Louisiana
A regulatory document indicates that Commonwealth LNG asked federal regulators to extend the construction period and start shipping of liquefied gas from an export facility proposed in Cameron Parish, Louisiana by four years. Commonwealth wrote to the Federal Energy Regulatory Commission to explain that the extension was necessary due to a pause in approvals implemented by the former U.S. president Joe Biden. The company, which has been a part of the President Donald Trump administration since this year when he lifted the freeze…
Commonwealth LNG wants to extend the time for building a planned export facility in Louisiana
A regulatory document shows that Commonwealth LNG asked federal regulators to extend the time period by four years for construction and export of liquefied gas from an export facility proposed in Cameron Parish, Louisiana. Commonwealth wrote to the Federal Energy Regulatory Commission to explain that the extension was necessary due to a pause in approvals implemented by the former U.S. president Joe Biden, last year. Although President Donald Trump lifted this freeze earlier in the year…
China builds oil reserves in response to a stockpiling campaign
China has been building oil reserves at an accelerated pace as part of its campaign to increase crude stocks. This urgency increased after Russia's invasion of Ukraine disrupted global energy flows. It also accelerated in this year according to traders, industry experts and public data. According to sources such as domestic news, government reports, and company websites, state oil companies like Sinopec and CNOOC are planning on adding at least 169,000,000 barrels in storage over 11 sites between 2025 and 2026.