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.
Foreign Minister: Hungary will buy 4 billion cubic meters of natural gas from Engie in France
Peter Szijjarto, Hungary's Minister of Foreign Affairs, said that Hungary will buy 4 billion cubic meters of natural gas between 2028-2038 from the French energy company Engie. Szijjarto stated that Engie will sell 400 million cubic meters (mcm), of gas, to Hungary each year under the "longest LNG contract in Hungary’s history". Hungary consumes approximately 8 billion cubic meters of gas per year. It is still Europe's largest buyer of Russian Gas.
Fluxys declares Force Majeure at Dunkirk LNG Hub due to Strike by French Workers
Fluxys, the operator of the Dunkirk LNG Terminal, declared force majeure on the site Wednesday until the early morning hours of October 3. The strike by French national unions is expected to affect delivery capacity for at least two days. Dunkirk's LNG terminal is Europe's second-largest and only directly connected to Belgium and France. It supplies about 20% of the annual gas requirements for both countries. In a bulletin, the operator announced that the Dunkirk terminal's delivery capacity will be cut to 44 gigawatt-hours on October 1…
Targa will build a 500-mile NGL pipe in Permian
Targa Resources announced on Tuesday that it will construct a 500-mile natural gas liquids pipeline from its plants located in the Permian basin to its fractionation, storage and distribution complex in Mont Belvieu in Texas. The Speedway NGL Pipeline will cost approximately $1.6 billion, and have a capacity of 500 thousand barrels a day at first. The pipeline with a diameter of 30 inches is expected to enter service in the third quarter 2027. The…
Oil prices and US interest rate cuts have mixed the Gulf markets.
September 30 - The Gulf stock markets were mixed early on Tuesday, as lower oil prices dampened expectations for further Federal Reserve rate reductions. According to CME Group’s FedWatch tool, traders have priced in an 89% chance that the Fed will reduce rates by 25 basis points at its next meeting in October. Investors are now awaiting U.S. data about job openings, payrolls in the private sector, the ISM Manufacturing PMI and the Non-Farm Payrolls Report on Friday to get more clues about the economy's state. The U.S.
Ottobock, a German manufacturer of prosthetics, expects a valuation up to $4.9 Billion in its German IPO
The German prosthetics firm Ottobock is expecting a valuation up to $4.9 Billion from its planned Initial Public Offering (IPO), it announced on Monday. The largest artificial limb manufacturer in the world announced that it would offer up to 12,35 million shares at a range of 62 to 66 euros per share. The offer period will run from Tuesday through October 7. This would put the value of the group between 4 billion and 42 billion euros ($4.7 to $4.9 billion), bringing in between 766 and 808 millions euros for the family-owned company.
Norway Approves New Gas Export Pipeline from Troll B
The Norwegian Offshore Directorate (NOD) has granted consent to start up a new pipeline from the Troll B platform that will help reduce the decline in gas production in coming years, it said on Thursday.The tie-in connects Troll B to the Kvitebjoern gas export pipeline, which runs to the onshore Kollsnes processing plant, with start-up expected during the fourth quarter of this year, the NOD said.The gas from Troll B was previously exported via the Troll A platform to Kollsnes, and some of the gas re-injected, it added.The new gas export solution will fa
How Canada's Haisla become the first Indigenous LNG owner in the world
Maureen Nyce wore a hardhat and a safety vest during an August visit to Cedar LNG's pipeline site, not as a dignitary visiting or cultural emissary, but as the owner. Haisla, who have lived on Canada's Northwest Coast for over 9,000 years, own 50.1% of the $4 billion Cedar LNG export project in Kitimat. The remainder is owned by Calgary-based Pembina Pipeline. The world's first majority-Indigenous-owned LNG project, expected to be operational in 2028…
EQT CEO: US could experience LNG oversupply between 2027 and 2029
Toby Rice told reporters on Thursday that the U.S. may experience a glut of liquefied gas in 2027-2029 but it will be tightening by 2030. Rice spoke on the sidelines a conference held in Houston. Patrick Pouyanne, CEO of TotalEnergies, warned in a recent statement that if all U.S. gas projects are completed as planned there could be a glut on the market. According to the U.S. Energy Information Administration, the U.S. will be the top LNG exporter in the world this year with a total annual capacity of 115 million tonnes.
Canada and BC approve Ksi Lisims Liquefied natural gas project on Pacific Coast
The federal government of Canada and the province British Columbia have approved Ksi LNG, a project to build a liquefied gas export terminal on Canada's northwest Pacific Coast. The Canadian government, under the leadership of Prime Minister Mark Carney, aims to speed up the construction and completion of natural resources projects in order to increase the economy's potential impact from U.S. Tariffs. The approval granted on Monday officially authorizes Ksi Lisims in accordance with the Impact Assessment Act.
Sentinel Midstream’s deepwater oil export project is granted an air permit by the EPA
On Monday, the U.S. Environmental regulator announced that it had granted an air permit to Sentinel Midstream for its proposed deepwater oil project off Texas' coast. According to a press release, the Environmental Protection Agency has issued a permit under the Clean Air Act that permits the use of auxiliary vessels to control volatile organic compounds at the proposed Texas GulfLink deepwater terminal. U.S. president Donald Trump wants to see projects approved faster, especially those that boost the U.S. oil and gas industry.
CANADA-CRUDE-Discount on Western Canada Select narrows
On Tuesday, the discount between West Texas Intermediate and Western Canada Select futures (the North American benchmark) narrowed. WCS for Hardisty, Alberta delivery in October settled at $11.20 per barrel below the U.S. benchmark WTI according to brokerage CalRock. This compares with a $11.40 discount on Monday. * The discount on WCS was narrowest since late July. Discounts widened in August due in part to the shutdown of BP's 440,000-barrel-per-day refinery in Whiting, Indiana, which had been affected by flooding after a severe thunderstorm.
EQT Corp. signs 20-year LNG contract with Commonwealth LNG Louisiana facility
The companies announced on Monday that the U.S. energy company EQT Corp would purchase 1 million tonnes of liquefied gas per year (mtpa), from Commonwealth LNG’s planned export facility on the Gulf Coast, near Cameron, Louisiana. EQT will purchase the LNG at a fixed price indexed by Henry Hub, and market and optimize their cargos on an international level. The company stated that the additional export capacity would allow EQT's domestic direct-to customer strategy to be expanded into global energy markets. Commonwealth LNG has been in the news this week.
French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. AIRBUS AIR.PA delivered 61 aircraft in August. This brings the total number of planes delivered by this year's world-leading planemaker to 434, according to industry sources on Wednesday. D'Ieteren - D'Ieteren announced its first-half result on Wednesday and confirmed its outlook for the full year. FRANCE/GOOGLE : The French data…
NextDecade's Rio Grande Train 5 Export Facility will supply EQT with LNG
The companies announced on Wednesday that U.S. energy company EQT would purchase 1.5 million tons of liquefied gas per year from NextDecade’s Rio Grande Export Facility in Texas, for a period of 20 years. NextDecade, also known by the name of a train or its fifth liquefaction plant, will provide superchilled fuel at Rio Grande from their fifth liquefaction unit. The agreement is on a free on-board basis, at a price indexes to Henry Hub. This will only be possible if NextDecade makes a positive Final Investment Decision (FID) for Train 5.
Workers strike at Fluxys Dunkirk LNG terminal in Belgium
The Dunkirk terminal of Belgian gas terminal operator Fluxys began a 3-day strike on Monday night over wages. This was part of an action in the energy and gas sector that focused on wages and pensions. Dunkirk LNG is Europe's second-largest terminal and the only one directly connected to Belgium and France, which accounts for around 20% of their annual gas consumption. A representative of the CGT, who declined to be identified, stated on Tuesday that the flow rate at the terminal had been affected. He didn't have exact figures.