MOL, Slovnaft Report JANAF to EU Watchdog in Fight Over Russian Oil Transport
Hungarian oil company MOL and its Slovak subsidiary Slovnaft have reported Croatian oil pipeline operator JANAF to the EU competition watchdog over its refusal to allow the transit of Russian seaborne oil imports, they said on Wednesday.The Hungarian oil and gas group has grappled since the end of January with an outage of Russian crude deliveries through the Druzhba pipeline transiting Ukraine, and has had to rely more on the Adriatic pipeline from Croatia.Hungary and Slovakia have been given exemptions to EU restrictions on Russian oil to give them time to diversify supplies.
Russian Oil Exports Curtailed By Drone Attacks, Weather
Russia has been unable to capitalize on this week's surge in global crude prices, as days of Ukrainian drone attacks and harsh winter storms have sharply curtailed its capacity to export oil, industry sources said.Russia's Sheskharis oil terminal in Novorossiysk port suspended oil loadings on Monday after a Ukrainian drone attack left a fuel terminal ablaze and damaged dozens of buildings, Russian and Ukrainian officials and three trade sources said.Crude oil benchmarks rose about 8% on Tuesday…
MOL Calls On JANAF to Allow Russian Oil Transit to Hungary
Croatian pipeline operator JANAF must allow transit of Russian seaborne oil to Hungary and Slovakia, refiner MOL Group said in an emailed statement on Thursday, adding that such imports were not under EU sanctions."MOL Group calls on JANAF to immediately guarantee that it would let through maritime Russian crude shipments not under sanctions," MOL said, adding that it expected a reply from JANAF by February 27 and if rejected, MOL could turn to the European Commission and seek damages.(Reuters)
Hungary to Release 1.8 Million Barrels of Crude From Reserves
Hungary's government will release about 1.8 million barrels of crude oil from its strategic reserves after a drone attack on the Druzhba pipeline late last month stopped oil flow, according to a government decree published late on Thursday.Hungary and Slovakia, which have the only remaining refineries in the European Union using Russian oil through Druzhba, have been trying to secure supply since flows were halted on January 27 after what Ukraine said was a Russian drone attack that damaged…
MOL Orders Alternative Oil to Supply Hungary, Slovakia Refineries
Hungary's MOL group has ordered tankers delivering Saudi, Norwegian, Kazakh, Libyan and Russian oil to supply its Hungarian and Slovak refineries and halted diesel supplies to Ukraine as it scrambles to overcome an outage of the Druzhba pipeline, officials said on Wednesday.MOL's refineries, the last in the EU to receive Russian oil through Druzhba, have struggled since a supply halt that Ukraine says was due to a Russian attack that damaged the pipeline infrastructure on January 27.The refineries plan to start tapping state oil reserves, with the Slovak government approving on Wednesday a loan of 250,000 to
TC Energy exceeds profit expectations as natural gas and power demand increases
Canadian 'pipeline operator TC Energy' beat analysts' expectations for the fourth quarter?profit % on Friday. This was helped by record natural-gas flows across its North American networks as soaring demand for power from data centers boosted volume. Major pipeline operators are doubling down on expectations of rising natural gas demand as LNG export facilities expand, and cryptocurrency miners and artificial-intelligence ?systems ramp up electricity use. On a call after earnings, executives said that they expected the demand for natural gas in North America to grow by 45 billion cubic ft per day (bcfpd)…
As Pipeline Projects Grow, Williams Predicts Higher 2026 Profit
U.S. pipeline operator Williams Companies on Tuesday forecast 2026 profit above analysts' expectations as new pipeline and offshore projects drive growth and natural gas demand continues to rise.Williams, which also increased its annual dividend by 5% to $2.10 per share for 2026, saw its shares rise 2.8% in morning trade.Rising electricity use from crypto-mining, households, businesses and an AI-driven boom in data centers is set to boost natural gas demand this year, strengthening pipeline…
Kinder Morgan beats quarterly profit estimates on strong natgas demand
Kinder Morgan, which is a subsidiary of Kinder Morgan Inc., beat Wall Street's expectations on Wednesday for its fourth-quarter profits. This was due to higher volumes transported by its pipelines. In extended trading, shares of the pipeline operator increased 1.4% to $28.99. U.S. Midstream Companies such as Kinder Morgan benefit from the surge in oil production and natural gas demand in the Permian Basin. This is due to record exports of liquefied gas and an increase in power generation linked to artificial intelligence, cryptocurrency mining, and data centers.
Kazakhstan to Divert Kashagan Oil to China After Ukraine Drone Attack
Kazakhstan said on Wednesday it would redirect some oil from its Kashagan field to China and other routes after a Ukrainian drone attack last month on the Caspian Pipeline Consortium's Black Sea terminal in Russia.The decision was announced by the energy ministry after Reuters reported earlier this week that Kazakhstan plans to supply crude to China directly from Kashagan for the first time after the Ukrainian attack damaged the CPC terminal.The CPC, which accounts for 1% of global crude supply and includes Russian, Kazakh and U.S.
Kinder Morgan anticipates higher profits in 2026 due to strong natural gas demand
Kinder Morgan, a pipeline operator, said that it expected a growth in profit for '2026 compared to the 2025 forecast - due to strong natural gas demand. In after-market trading, shares of the company rose 1% to $27.57. The demand for natural gases has been boosted by the increase in LNG exports, and an increase in power consumption in data centers devoted to artificial intelligence (AI) and cryptocurrency. Kinder Morgan has signed long-term contracts to transport 8 billion cubic feet of natural gas per day to LNG facilities. It expects to deliver 12 bcfd in 2028.
Enbridge Approves $1.4b Project to Expand Canadian Crude Pipelines into US
Canadian pipeline operator Enbridge on Friday approved a $1.4 billion expansion of its Mainline and Flanagan South pipelines, adding new capacity for Canadian heavy crude into the U.S. Midwest and Gulf Coast.The project adds additional takeaway capacity for Canadian crude and broadens access to U.S. refineries, improving the flow of oil sands to major export outlets.This comes as Enbridge balances liquids growth with its push into natural gas utilities and low-carbon fuels.Enbridge said Mainline Optimization Phase 1 (MLO1) will add 150…
Targa Resources beats profit estimates on record Permian volumes, boosts dividend
Targa Resources, the pipeline operator, beat expectations for its third-quarter core profit adjusted on Wednesday. This was boosted by record volumes of natural gas and liquids from the Permian Basin. The company announced that it would increase its dividends by 25%, to $5 per share, in 2026. Midstream companies in the United States, such as Targa, and Kinder Morgan, are benefiting by a boom in oil and natural gas production, as well a rising demand for natgas from LNG export facilities, and an increase in power generation due to AI operations and cryptocurrency mining, and data centers.
Williams invests $1.9 billion in Woodside's Louisiana Liquefied Natural Gas venture
The companies announced that U.S.-based Williams would spend $1.9 billion to develop LNG facilities and a pipe for Woodside Energy’s $17.5 billion project in Louisiana involving liquefied gas. Williams announced on Wednesday that the pipeline operator would take a 10% stake and simultaneously purchase an 80% ownership and operatorship in the Driftwood Pipeline for $250 million. Woodside expects to receive a total of $378m under the agreement. Australia's largest energy company said this in an announcement made separately on Thursday. Woodside has reduced its previous estimate of $11.8billion to $9.9billion.
Woodside rallies to cap losses; miners and tech drag Australian shares down
Australian shares dropped for the second session in a row on Thursday. Mining and tech stocks were to blame, but losses were mitigated by Woodside Energy's surge following new investment in Louisiana LNG. S&P/ASX 200 Index fell 0.4% at 8,993.5 by 0002 GMT. The benchmark closed Wednesday 0.7% lower. After three sessions of gains, technology stocks dropped by 1.2%. U.S. stocks closed lower overnight after a wave mixed earnings reports from corporates dampened sentiment. Block Australia shares dropped 2.3% while WiseTech, a software services provider, fell 1.3%.
Woodside signs Williams as an investor for Louisiana LNG construction to accelerate
Woodside Energy, a company based in Australia, has hired U.S.-based Williams to be an investor and operator of the Louisiana Liquefied Natural Gas Plant. This is to benefit from its infrastructure expertise and reduce costs as construction increases. Williams will receive a 10% stake of Louisiana LNG Holding Company and 80% ownership in the Driftwood Pipeline, which will provide feed gas for the $17.5 billion project. Williams, which operates over 33,000 miles (53.108 km) of pipe across 24 U.S. States, will pay Woodside $1.9 billion and contribute $378 million towards the project's costs.
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 pipeline operator is also building a natural-gas processing plant called Yeti in the Permian-Delaware basin of Texas.
Energean, a UK-based company, signs a 15-year contract for the transmission of Israeli gas
Energean, a British gas producer, announced on Friday that it had signed 15-year contracts for the planned Nitzana gas pipeline from Israel to Egypt. The agreement was part of a $4 billion contract with Israel. Energean reported that the deal with Israel Natural Gas Lines, a state-owned pipeline operator, covers a transmission of up 1 billion cubic meters of natural gas each year. There are options to extend and terminate early. Energean stated that the Nitzana Pipeline will run from Ramat Hovav, in southern Israel, to the Egyptian border, near Nitzana.
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, could drastically change the future of Nyce's people and serves as a test case for Canada…
ONEOK reports higher third-quarter profits as acquisitions payoff
ONEOK, the U.S. oil and gas pipeline operator, reported a higher profit in the third quarter on Tuesday. This was due to the robust volumes in Rocky Mountain Region as well as the effect of a number of acquisitions. ONEOK has diversified its portfolio over the last two years through acquisitions, including a Gulf Coast NGL pipe system from Easton Energy as well as Medallion Midstream, EnLink Midstream, and Medallion Midstream. ONEOK acquired the remaining 49.9% of NGP XI Midstream Holdings' stake in the Delaware Basin Joint Venture in June for $940 million.
US Postpones Sanctions on NIS Oil Company
The U.S. has postponed sanctions on Serbia's Russian-owned NIS oil company, which runs Serbia's only oil refinery, for one week until October 15, Belgrade-based Nova Ekonomija news portal reported on Wednesday, citing sources.The reported extension comes as the U.S. extended a license for Croatian oil pipeline operator JANAF to transport crude to Serbia for another week, as it seeks to complete the delivery of contracted volumes, JANAF said on Wednesday.NIS did not respond to a request for comment.The U.S.