British giants BP and Ineos announced on Monday a $5 billion global petrochemical deal, covering 14 manufacturing plants across Europe, Asia, and the U.S., Kallanish Energy reports. BP’s departing chief financial officer Brian Gilvary stroke the sale of BP’s petrochemical unit to Ineos – an achievement that concludes BP’s $15 billion divestment target a year
Read More...Russian gas giant Gazprom is negotiating an additional 6 billion cubic meters per year (Bcm/y) of gas supply to China, Kallanish Energy reports. The company is in talks with its partners to increase gas deliveries via the Power of Siberia, CEO Alexey Miller said in an interview published on Gazprom’s website last Friday. If an
Read More...Belgium shipping company Exmar is considering the best way to defend its interests in a dispute with Argentina’s YPF, Kallanish Energy reports. The company said last week it received notification of force majeure from YPF under the Charter Agreement and Services Agreement they hold for the Tango FLNG barge. Exmar said the move is “unlawful,” and
Read More...U.S. natural gas storage build surpassed expectations rising by 120 billion cubic feet (Bcf) in the week ending June 19, according to data from the U.S. Energy Information Administration (EIA). The latest estimates, covering the week of 12-19 June, pointed to a storage level of 3,012 Bcf. The volume is 32.5% higher than the same
Read More...China’s oil and gas company CNOOC announced on Monday a “significant” oil and gas condensate discovery off the South China Sea, Kallanish Energy reports. The discovery of Huizhou 26-6 in the eastern South China Sea is set to become the first mid-to-large sized field in the shallow waters of Pearl River Mouth Basin. The well-encountered
Read More...Natural gas production continues to grow in the United States because production continues to get more efficient, according to the U.S. Energy Information Administration. The EIA report revealed newer wells are boosting production in shale formations across the U.S. Furthermore, the average new well in the Haynesville, Permian, Eagle Ford, Niobrara and Bakken regions in
Read More...Here are the top news stories covering Canada’s energy landscape: Alberta Energy Minister Calls Norway’s New Oil Tax Cuts “Hypocritical” In an attempt to provide some relief to its oil and natural gas industry, Norway’s government cut taxes on the industry by 40 percent to help stimulate the sector and attract oil companies to the
Read More...Low oil and gas prices amid the coronavirus pandemic proved to be the final blow for Chesapeake Energy Corp. as it filed for chapter 11 bankruptcy over the weekend, according to The Wall Street Journal. Although Chesapeake is the latest debt-laden oil and gas company to file for bankruptcy, it may not be the last.
Read More...Washington, D.C. Attorney General Karl Racine sued ExxonMobil, BP, Chevron, and Shell today for allegedly misleading District consumers about the role the companies’ products play in causing climate change. In a move that suggests close coordination, the legal action comes just one day after Minnesota Attorney General Keith Ellison filed a very similar lawsuit. This
Read More...On Wednesday, Minnesota became the latest state to file a climate lawsuit against the energy industry. This marks the first lawsuit of this kind to be filed after the failure of the New York Attorney General’s case against ExxonMobil last fall. At a press conference, Minnesota Attorney General Keith Ellison announced that his office was filing a civil consumer protection lawsuit against ExxonMobil, the American Petroleum Institute (API), and Koch Industries, as well as
Read More...The Trump administration has decided to allow rail shipments of liquified natural gas, as court and regulatory battles over pipeline projects have slowed the movement of natural gas to markets, according to the Star Tribune. The U.S. Pipeline and Hazardous Material Safety Administration published the rule last week, permitting rail shipments of the flammable and
Read More...Bobby Marandi, PwC U.S. energy leader, and David Sapin, principal at PwC Connected Solutions, spoke with Hart Energy’s Jessica Morales about ways oil and gas companies can leverage existing contact tracing capabilities of mobile devices and other means of technology to manage workforce safety and privacy concerns during the ongoing COVID-19 pandemic. “I think it is a
Read More...U.S. pipeline and storage operator Easton Energy LLC is planning to expand its NGL and olefins storage at existing salt caverns along the Texas Gulf Coast and add crude storage capability. Demand for energy storage has soared as the COVID-19 pandemic crushed fuel demand, spurring oil producers and traders to fill storage facilities across the
Read More...Italy’s energy infrastructure operator, Snam, has partnered with five international funds to invest in a 49% stake in Adnoc Gas Pipelines, in a deal valuing the Abu Dhabi company in $20.7 billion. The transaction, announced by Adnoc and the other companies on Tuesday, is expected to close in July. Once complete, the newly created subsidiary
Read More...U.S. liquefied natural gas (LNG) exporters could see the cancellation of an estimated 40-45 cargos for August loading, similar to levels reported for July loadings, Kallanish Energy reports. Citing unnamed sources, Reuters reported earlier this week Cheniere is likely to see 30 cargos canceled, while up to 10 shipments could be canceled from the Freeport
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