India and Russia Sign Energy Deals
India and Russia have agreed on a five-year roadmap to step up cooperation in the hydrocarbon sector, including investment, not only in exploration and production in each other's oil and gas fields but also in downstream projects.India invited Russian companies to invest in its oil refining and petrochemical projects as the two nations vowed to increase energy cooperation going beyond LNG supplies and stakes in Russian oil and gas fields.According…
Petrobras to Sell Natural Gas Assets
Brazilian state-owned oil firm Petroleo Brasileiro SA has reached an agreement with anti-trust regulator Cade to sell off a series of natural gas transportation and distribution assets, the company said in an exchange filing on Monday.Petrobras, as the company is commonly known, said it had pledged to sell stakes in pipeline networks including a 10% stake in Nova Transportadora do Sudeste (NTS) SA, 10% in Transportadora Associada de Gas (TAG) SA and 51% in Transportadora Brasileira Gasoduto Bolivia-Brasil (TBG) SA.It would also sell its indirect ownershi
Natural Gas Consumption Up 10% in China
According to the preliminary estimate, the consumption of natural gas in China exceeded 27 million cubic meters in 2018, registering a YOY increase of more than 10%, said a report.The growing Chinese economy and stricter environmental protection policies drive the growth of natural gas consumption in China. In 2018, the Chinese government introduced several environmental protection policies to further prevent and control atmospheric pollution and replace coal with natural gas in key areas…
Oil Majors Rush to Dominate US Shale
In New Mexico's Chihuahuan Desert, Exxon Mobil Corp is building a massive shale oil project that its executives boast will allow it to ride out the industry's notorious boom-and-bust cycles.Workers at its Remuda lease near Carlsbad - part of a staff of 5,000 spread across New Mexico and Texas - are drilling wells, operating fleets of hydraulic pumps and digging trenches for pipelines.The sprawling site reflects the massive commitment to the Permian Basin by oil majors, who have spent an estimated $10 billion buying acreage in the top U.S.
China's CNOOC Sees Ugandan Oil Production Starting in 2021
Oil production in Uganda is likely to start in 2021 at the earliest, China's CNOOC said, giving a later date than the government's 2020 target.CNOOC, which is developing the fields in the west of the country with Britain's Tullow Oil and France’s Total , is aiming for a final investment decision this year so development can start, CNOOC spokeswoman Aminah Bukenya said."If we have the final investment decision taken this year, then three years from the final investment decision we shall have first oil…
OGIC Invests in New UK Projects
Setting out to help cut operational costs and improve efficiency in the oil and gas industry, the Oil & Gas Innovation Centre (OGIC) has invested more than £300,000 into three new projects. The first project will see Blue Gentoo work with the University of Aberdeen to develop an Intelligent Hydrate Tool (IHT). The tool will automatically control MonoEthylene Glycol (MEG) injection by monitoring hydrocarbon parameters – calculating both the MEG required and any subsequent injection adjustments in real time – without routine human intervention.
Six Williams Directors Quit after CEO Ouster Fails
Six of Williams Cos Inc's directors, including the pipeline company's chairman, resigned on Thursday after a failed attempt to oust Chief Executive Alan Armstrong, three sources familiar with the matter told Reuters. The resignations from the company's 13-member board come a day after Energy Transfer Equity walked away from its more than $20 billion deal to buy Williams after months of lawsuits and heated arguments between the rival pipeline companies.
Williams Files Lawsuit to save ETE Deal
The war of words between U.S. pipeline operators Williams and Energy Transfer Equity (ETE) has worsened after Williams filed a lawsuit to pressure its would-be buyer to proceed with their merger agreement. Williams has accused ETE of trying to get out of the $20 billion deal and filed a lawsuit late on Friday seeking to prevent the Dallas-based firm from terminating its takeover over a tax issue or if the deal isn't closed by a June 28 deadline.
Energy Transfer CEO on Williams: 'We can't close this deal'
Energy Transfer Equity LP Chief Executive Kelcy Warren said on Thursday the pipeline company cannot complete an agreed-upon $21 billion takeover of rival Williams Cos Inc because of tax issues. "We can't close this deal," Warren said on a company conference call. Warren said that Energy Transfer would be open to a deal that would remove the cash portion of its cash-and-stock bid for Williams. Dallas billionaire Warren set his sights on Williams last year in order to transform his empire into one of the biggest pipeline networks in the world…
Technip Awarded Hydrogen Plant Contract
Technip was awarded a contract by Air Products to provide technology, engineering and procurement services for a grassroots hydrogen plant in Baytown, Texas, USA. The 3.5 million standard cubic meters per day plant will produce hydrogen and carbon monoxide (CO) to be supplied to customers from Air Products’ established Gulf Coast Hydrogen and CO Pipeline Networks. The plant will be built through the global hydrogen alliance(1) between Air Products and Technip.
TransCanada sues U.S. over Keystone Rejection
TransCanada Corp sued the U.S government on Wednesday to reverse President Barack Obama's rejection of the Keystone XL pipeline, and also plans to seek $15 billion in damages from a trade tribunal. TranCanada's lawsuit in a federal court in Houston, Texas, called rejection of its permit to build the pipeline unconstitutional. The company's U.S. lawsuit does not seek monetary damages but wants the permit denial invalidated and seeks a ruling that no future president can block construction.
LNG Prices Firm on Pockets of Demand
Asian liquefied natural gas (LNG) prices edged up this week as the global market drew some support from demand in Mexico, after its state-run power company purchased six cargoes. The price of Asian spot cargoes for January delivery edged up to $7.30 per million British thermal units (mmBtu), from around $7.20/mmBtu last week. Cargoes for February delivery were lower at around $7.10/mmBtu, with supply from new projects in Australia and the United States expected to pick up in the new year.
European Utilities Sit on Prize Assets Ahead of LNG Glut
European utilities are expected to take center stage when a wave of liquefied natural gas (LNG) hits Europe starting next year, as long unprofitable import capacity soars in value and bolsters their clout in the global trade. Under-used LNG import terminals in Britain, Netherlands, Belgium, France and Spain, where the majority of import rights are held by utilities, are set to see more action, assuming gas prices can stay competitive. Utilization at Rotterdam's GATE terminal is expected to be about 1 billion cubic metres (bcm) in 2015…
Obama Rejects Canada-to-US Keystone Pipeline
U.S. President Barack Obama on Friday rejected the proposed Keystone XL oil pipeline from Canada in a victory for environmentalists who have campaigned against the project for more than seven years. "The pipeline would not make a meaningful long-term contribution to our economy," Obama told a press conference. He said the pipeline would not reduce gasoline prices for drivers, and shipping "dirtier" crude from Canada would not increase U.S. energy security.
Capturing CO2 Emissions Remains Frustratingly Expensive: Kemp
Fossil fuels will remain an indispensable part of the global energy supply for at least the next 50 years, so a means must be found to burn them without pumping carbon dioxide into the atmosphere. According to Martin Wolf, chief economics commentator of the Financial Times: "(Just) as the civilisation of ancient Rome was built on slaves, ours is built on fossil fuels. What happened in the beginning of the 19th century was not an industrial revolution but an energy revolution.
Angolan Oil Output Squeezed by LNG Plant Closure
The lengthy shutdown of a liquefied natural gas (LNG) plant is helping push Angola's crude oil exports to their lowest levels since 2006, having clogged offshore platforms with unwanted gas supplies and forced operators to limit extraction. With few alternatives available to unblock oil flows, the highly polluting practice of burning off gas in flare stacks, which the plant was built to prevent, looks set to return for as long as it takes to carry out repairs, local industry sources with knowledge of the matter said.
U.S. Ready to Help Hungary Build Energy Independence
The United States is willing to help Hungary and other European countries build energy infrastructure to reduce its dependence on Russian oil and gas, U.S. Chargé d'Affaires in Budapest André Goodfriend has told Nepszava newspaper. "Relying on Russian sources threatens energy independence," Goodfriend told Nepszava in an interview published on Saturday. Hungarian Prime Minister Viktor Orban has drawn criticism from Western governments for trying to secure supplies of energy and trade for Hungary by doing deals with Moscow.
The FLNG Market is Poised for Growth
There are many different views on the future of energy supplies, but strong agreement in two areas; over the next 25 years or so population growth and GDP growth in the developing economies, particularly China and India, will drive global energy demand to increase by some 50% and second; while oil’s share of the energy mix will decline, the largest growth will be in consumption of natural gas. Why? Natural gas is an outstanding fuel for power generation…
