Bulgaria hopes to complete the Balkan Stream gas pipeline by year-end as planned, despite the delay caused by the coronavirus pandemic, Kallanish Energy reports. The 474-km pipeline is an extension to the TurkStream gas pipeline, from Russia to Turkey. With a planned capacity of 20 billion cubic meters per year, the section will deliver gas … Read more
Texas-based Energy Transfer, an owner and operator of the Dakota Access Pipeline, wants to increase the pipeline’s capacity by more than 96%, to 1.1 million barrels per day of crude, from the Bakken in North Dakota, through South Dakota and Iowa into Illinois. To increase flow, the company wants to build a series of new … Read more
Crude oil moved along a bumpy price track Tuesday ahead of Opec’s bi-annual meeting, which kicks off Thursday in Vienna, Kallanish Energy reports. Expectations of output cuts from Opec+ members brought prices back up after they slid briefly following comments from President Trump that a trade deal with China may be delayed. … Read more
Russian President Vladimir Putin has criticized countries like the U.S. for ignoring the environmental impact of shale oil and natural gas production, describing it as a “barbaric” process the Kremlin won’t pursue, CNBC reports. Speaking at a business conference in Moscow Wednesday, Putin said: “Today’s technology of shale oil production and shale gas are … Read more
Safety experts and activists are asking numerous questions concerning the fire which devastated the U.S. East Coast’s largest and oldest refinery, Kallanish Energy understands. One big question is how did a piece of piping installed in the early 1970s go without once being checked before leading to the fire at the Philadelphia Energy Solutions (PES) refinery … Read more
New York-based utility giant Consolidated Edison (ConEd) is capping its investment in the troubled Mountain Valley natural gas pipeline. ConEd revealed in a U.S. Securities and Exchange Commission filing Monday (reviewed by Kallanish Energy) its CET Gas unit will cap its investment in MVP at $530 million. ConEd already has spent $488 … Read more
India is investing over $60 billion in natural gas supply and distribution infrastructure as it seeks to more than double the share of natural gas in its energy base, to 15% by 2030, oil minister Dharmendra Pradhan said Sunday. Natural gas currently constitutes 6.2% of all energy consumption in the country, Hindu … Read more
Iraq is turning to Chinese companies to replace ExxonMobil (XOM) in a $53 billion oil infrastructure megaproject, two sources told Energy Intelligence. The escalation in regional tensions and deadlocked negotiations have made the U.S. supermajor’s involvement in the project look increasingly doubtful in recent months, the sources said, Kallanish Energy understands. ExxonMobil … Read more
Welcome to this week’s edition of The Buzz, a weekly feature where Kallanish Energy editors select the quartet of stories this past week we feel were the most important – and have the chance to make the biggest impact on the oil and gas — and energy industry as a whole. US natgas price will plunge to 1970s … Read more
Russian producer Gazprom was the global leader in oil/gas production growth over the past five years, according to a note released Thursday by independent research company Rystad Energy. It was followed by Chinese state-owned PetroChina and the U.S.’s largest dry gas producer, EQT Corp., Kallanish Energy learns. Gazprom had growth of more than … Read more
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