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
CNBC Oil prices slipped on Monday as investors continued to focus on the situation in the Middle East, where diplomatic efforts are intensifying in an attempt to contain the conflict between Israel and Hamas. Oil slips as investors watch diplomatic moves in Gaza war Brent crude futures fell 63 cents, or 0.7%, to $91.53 a barrel, as of 9:41 a.m.
Investing HOUSTON -Oil futures fell on Monday on a report the U.S. and Venezuela could soon reach a deal to ease sanctions on Venezuela if a presidential election date is set, while traders see the Israel-Hamas conflict not affecting crude supplies in the short term. Brent futures were down 59 cents, or 0.67%, at $90.27 a barrel at 10:30 CDT (1532
Nasdaq Canada faces an uphill battle to recoup the roughly C$35 billion ($25.74 billion) in taxpayers’ money it has sunk into the Trans Mountain oil pipeline, as uncertainty over shipping tolls and a limited pool of buyers cloud the asset’s unique strategic value. The federal government plans to sell Trans Mountain once a long-delayed expansion to nearly triple the flow
Oil Price Tellurian has applied for a three-year construction permit extension with the Federal Energy Regulatory Authority to complete the construction of the Driftwood LNG facility. The Driftwood LNG plant, currently under construction, would be one of the biggest in the world, with a capacity of up to 27.6 million tons of liquefied natural gas annually. The price tag of the project is
Oil Price Energy Transfer LP shuttered its Centurion Pipeline on Monday after it was struck by a road worker, the pipeline company said in an email to Bloomberg. Energy Transfer LP acquired the pipeline earlier this year when it acquired the previous owner, Lotus Midstream for $1.4 billion. The Centurion Pipeline runs from New Mexico, ending in Cushing, Oklahoma, with laterals that extend
BOE Report The Canada Energy Regulator (CER) approved a route change request for the Trans Mountain oil pipeline expansion on Monday, clearing a major hurdle and avoiding months of delay for the Canadian government-owned project. Trans Mountain Corp (TMC), the federal government corporation that is building the expansion, had sought a route deviation on a 1.3-kilometre (0.8 mile) section of
Nasdaq CALGARY – Canada’s Trans Mountain oil pipeline expansion (TMX), which will nearly triple the flow of crude from Alberta to Canada’s Pacific Coast beginning early next year, will shake up North America’s supply by diverting barrels now mainly delivered to refiners and exporters in the U.S. Midwest and Gulf Coast. Its startup could add as much as $2 per
BOE Report Canadian regulators on Monday kicked off a two-day hearing to weigh up a controversial route change request from the Trans Mountain expansion (TMX) project that has sparked Indigenous opposition and may lead to further delays for the key oil pipeline. After years of environmental opposition, regulatory hold-ups and ballooning costs, Canadian government-owned TMX is nearing completion and due
World Oil (Bloomberg) – Denbury Inc. held talks with more than two dozen potential buyers and rejected two offers from ExxonMobil Corp. before finally agreeing to sell itself to the Texas oil giant for $4.9 billion in stock last month. Executives and their advisers spoke with more than 28 parties, from international oil majors to pipeline operators, signing confidentiality agreements with 17
Investing A Canadian government agency has guaranteed fresh commercial loans of up to C$3 billion ($2.2 billion) to the controversial Trans Mountain pipeline expansion project that has suffered repeated cost overruns. The information disclosed by Export Development Canada (EDC) showed that a new loan guarantee of C$2.75-C$3 billion was signed in July, though it first appeared on EDC’s website late
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