Industry News

EQT Closes Acquisition of MVP Owner Equitrans

23 July 2024, 12:56pm
The merger of EQT and Equitrans creates the only large-scale, vertically integrated natural gas business in America.
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Australia to Grant New Exploration Permits for Offshore Gas, CCS

23 July 2024, 12:30pm
'As ageing coal generation comes offline in coming years, gas will continue to be needed to firm renewable energy generation and as a backup during peak energy use periods'.
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Less natural gas consumption in Europe is keeping storage full

23 July 2024, 12:00pm
Consumption of natural gas in Europe consistently decreased since mid-2022, driven by a combination of mild winter weather and government policies aimed at reducing natural gas consumption. In 2023, natural gas consumption in the European Union's 27 member countries (EU-27) declined 18% from the previous five-year (2017–21) average according to Eurostat data. During the first five months of 2024 (January–May), consumption remained 19% below the 2017–21 average for the same months.
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Equinor Taps Valaris Drillship for Raia Project in Brazil

23 July 2024, 11:56am
Drilling activities are planned to begin in 2026, targeting to drill six wells leading up to production starting in 2028.
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European Power Demand Takes Major Hit

23 July 2024, 11:34am
European power demand has taken a major hit, BofA analysts said in a new BofA Global Research report.
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US Regulators Extend Deadline for RFI on Acquisition Strategies

23 July 2024, 11:30am
The DOJ and the FTC extended by 60 days the window for the public to respond to a request for information about acquisition practices that may harm market competition.
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OEUK Responds to UK Climate Change Committee Report

23 July 2024, 8:40am
OEUK said the UK's offshore energy industry is on track to meet its own climate goals and is not slowing down.
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SK E&S, SK Innovation to Merge, Unifying O&G, Alternative Energy Businesses

23 July 2024, 6:30am
SK Innovation and SK E&S, both under diversified South Korean group SK Inc., agreed to merge into a $66.2 billion company spanning the entire value chain of conventional and alternative energies.
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Hungary, Slovakia Ask EU to Intercede as Ukraine Targets Lukoil

23 July 2024, 6:30am
Hungary and Slovakia asked the European Union to help convince Ukraine to reinstate the transit of the major Russian oil supplier to eastern Europe.
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ADNOC Signs Deals with Nafis, Mubadala for Job Creation, Talent Development

23 July 2024, 6:30am
ADNOC signed two agreements to create new private sector jobs for UAE nationals in its supply chain and develop talents.
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PetroChina Joins Big Oil's Pledge to Eliminate Methane Emissions

22 July 2024, 9:00pm
Chinese state-owned oil giant PetroChina Co. has joined 50 other oil and gas producers in the Oil and Gas Decarbonization Charter.
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Oil Extends Decline Amid US Political Unrest

22 July 2024, 7:30pm
Oil extended its recent slide as investors assessed how US President Joe Biden's decision not to seek reelection could impact markets.
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Ecopetrol Eyes Stake in CrownRock under Occidental

22 July 2024, 5:30pm
Ecopetrol is in talks to acquire a significant stake in Permian Basin leases that are under a pending purchase by Occidental.
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US DOE Offers Funding to Improve Tribal Access to Clean Energy Support

22 July 2024, 3:46pm
The funding aims to enhance outreach and engagement between the DOE and tribal organizations on clean energy opportunities.
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TechnipFMC Scores iEPCI Contract from Energean

22 July 2024, 2:40pm
The subsea infrastructure will tie back to the Energean Power floating production, storage, and offloading vessel (FPSO).
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Sempra Taps Bechtel for Port Arthur LNG Phase 2 EPC

22 July 2024, 2:34pm
Bechtel will perform detailed engineering, procurement, construction, commissioning, startup, performance testing and operator training activities for the project.
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Saipem Bags Subsea Contract to Service Italy-Libya Pipeline

22 July 2024, 2:31pm
Saipem will ensure the supervision and the subsea intervention services of the GreenStream pipeline running between Libya and Italy.
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Woodside to Acquire Tellurian, Driftwood LNG

22 July 2024, 2:25pm
'The acquisition of Tellurian and its Driftwood LNG development opportunity positions Woodside to be a global LNG powerhouse'.
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North America Adds Rigs For 9 Consecutive Weeks

22 July 2024, 2:18pm
North America added 10 rigs week on week, according to Baker Hughes' latest rotary rig count.
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U.S. wholesale natural gas spot prices fell to record lows in first half 2024

22 July 2024, 1:30pm
The average monthly wholesale spot natural gas price at the U.S. benchmark Henry Hub fell by 20% to $2.56 per million British thermal units (MMBtu) between January and June of this year, according to data from Refinitiv Eikon. In January, the Henry Hub price averaged $3.18/MMBtu, then dropped to $1.49/MMBtu in March, marking the lowest average monthly inflation-adjusted price since at least 1997. In addition, prices from February through April 2024 were the lowest ever recorded for these months.
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Trump Vow to 'Drill, Baby, Drill' Collides With Industry Caution

22 July 2024, 1:00pm
While it's a message that resonates strongly with Trump's GOP base, it belies the reality in the boardrooms of the country's top oil producers.
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The Heritage Foundation Tells Rigzone Oil Demand Will Never Peak

22 July 2024, 11:16am
'The world will continue to demand more and more oil', the Heritage Foundation told Rigzone.
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California residents are increasingly pairing battery storage with solar installations

18 July 2024, 12:00pm
California residents are increasingly pairing battery storage with solar installations, according to the latest preliminary data in our Monthly Electric Power Industry Report.
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U.S. production capacity for sustainable aviation fuel to grow

17 July 2024, 12:00pm
Production capacity of sustainable aviation fuel (SAF) in the United States could increase from around 2,000 barrels per day (b/d) to nearly 30,000 b/d in 2024 if all announced capacity additions come on line. Developers expect Phillips 66's Rodeo Renewed project to produce up to about 10,000 b/d of SAF beginning this summer, and they expect Diamond Green Diesel's Port Arthur SAF project to produce about 15,000 b/d of SAF by the end of the year.
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