Oil Price Oil companies planning to ship crude on the expanded Trans Mountain pipeline in Canada are concerned that the project may not begin full service on May 1 but they would be nevertheless obligated to pay tolls from that date. In a letter to the Canada Energy Regulator (CER), Suncor Energy and other shippers including BP and Marathon Petroleum
World Oil (WO) – In the Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasted that U.S. liquefied natural gas (LNG) exports will keep leading the U.S. natural gas sector as three LNG export projects soon begin operations and reach full production by the end of 2025. The EIA also forecasted increased natural gas pipeline exports, mostly to
World Oil (WO) – During CERAWeek by S&P Global’s fourth day in Houston, Texas, Vice Chairman Dan Yergin sat down with Mike Dunleavy, Alaska’s Governor, to discuss the future of Alaskan energy. Alaska’s “extraordinary” resource potential. During the discussion and following press conference, Gov. Dunleavy made it clear that Alaskan resources are “extraordinary” due to the state’s unique location and
Nasdaq TC Energy TRP.TO said on Monday it has agreed to sell Portland Natural Gas Transmission System (PNGTS) to a BlackRock-managed fund and Morgan Stanley Infrastructure Partners for $1.14 billion as part of its ongoing efforts to reduce debt and fund investments. The Calgary, Alberta-based company, best known for its Keystone oil pipeline, is undergoing an overhaul and had said last
Oil and Gas 360 Publisher’s Note: Oil and Gas 360 media partner congratulates the Transportation Oil & Gas Congress (TOGC) 2024 for another successful year. Transportation Oil & Gas Congress (TOGC) 2024 brought together C-level executives and technical specialists from major companies to explore sustainable solutions for the future in the pipeline sector. Event held in Milan, Italy, on February
BOE Report Canadian oil producers expect the discount on their crude to shrink significantly when the Trans Mountain pipeline expansion (TMX) starts this year, but the relief may be short-lived as surging supply looks set to exceed the country’s pipeline capacity in just a few years. TMX will ship an extra 590,000 barrels per day (bpd) of crude, trebling existing
Oil Price Less than a month after news that Phillips 66 was discussing the sale of some of its assets, the company has been forced to shut down a section of a natural gas pipeline due to a fire. The natural gas pipeline in the Oklahoma Panhandle ruptured after a fire on Tuesday, with Phillips 66 saying in a Wednesday
Oil Price The Trans Mountain expansion project may be in for yet another delay as the company in charge of it reported encountering “technical issues” during construction. In a statement, the company said that the issues “will result in additional time to determine the safest and most prudent actions for minimizing further delay.” The expanded pipeline was scheduled to begin operation
Oil Price The Canada Energy Regulator is hearing arguments on Friday from Trans Mountain Corporation on why it should allow a change in the route and diameter of a small section of the pipeline. The company has warned that without that change it could face a worst-case scenario of a delay of two years in the completion of the pipeline. The expanded
Nasdaq Canadian oil producers are bracing for further potential delays to the Trans Mountain pipeline expansion (TMX) that could cost them millions of dollars in lost revenues in coming months after they ramped up production ready to fill the expanded line, meant to unlock access to Asia. However, the project, about 95% completed, has been beset by construction issues in
Oil Price Kinder Morgan will buy the natural gas pipeline portfolio of NextEra Energy Partners in Texas, paying $1.82 billion for the assets. The pipeline network has a throughput capacity of 4.9 billion cu ft daily, Kinder Morgan said in a news release about the deal. The company added that the pipeline assets were “highly contracted”, with the average length of contract at
Nasdaq LONDON – Energy giants offered a rare glimpse into their liquefied natural gas (LNG) trading strategies in recent days, with Shell’s and TotalEnergies’ bets on rising Asian demand paying off while BP’s bet on a European deficit turned sour. The contrasting outcomes highlight the risky nature of trading divisions, at times notching up spectacular profits as traders quickly exploit
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