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Canadian Natural Resources' quarterly profits fall due to weak oil prices

Canadian Natural Resources, an oil and gas company, reported a decline in its fourth-quarter profits on Thursday as lower commodity prices overshadowed the rise in production. Mark Stainthorpe, finance director at the company, will also be stepping down as part of the ongoing management succession on April 30, 2019. He will be succeeded by an insider, Victor Darel. The average Brent crude futures dropped 3% in 2024, as the economy of China, the largest consumer, weakened. Meanwhile, the OPEC+ producer's group delayed planned supply increases, and in a sign that demand was muted, extended deep production cuts until the end...

LNG Transportation

New Fortress Energy reports quarterly loss amid lower LNG prices

New Fortress Energy, a U.S. LNG company, posted a loss for the fourth quarter of 2014 on Monday. This was due to deteriorating performance from its terminals and infrastructure as well as ships. LNG exports to the U.S. reached near-record levels by December 2024. Lower LNG export prices coupled with higher costs squeezed the margins of companies like New Fortress. Data from the Energy Information Administration shows that LNG export prices were $6.26 per 1,000 cubic feet (Mcf), down 18% on 2023. The operating margin at NFE's Terminals and Infrastructure unit fell 44.8%, to $206.1 millions during the quarter. The...

Oil Pipeline

New Fortress Energy reports quarterly loss amid lower LNG prices

New Fortress Energy, a U.S. LNG company, posted a loss for the fourth quarter of 2009 on Monday. This was due to deteriorating performance from its terminals, ships and infrastructure segments. LNG exports to the U.S. reached near-record levels by December 2024. Lower LNG export prices coupled with higher costs squeezed the margins of companies like New Fortress. Data from the Energy Information Administration shows that LNG export prices were $6.26 per 1,000 cubic feet (Mcf), down 18% on 2023. The operating margin at NFE's Terminals and Infrastructure unit fell 44.8%, to $206.1 millions during the quarter. The operating margin...

Natural Gas Pipeline

ONEOK's fourth-quarter profits rise on increased demand and higher earnings in 2025

ONEOK, a pipeline operator, forecasted an annual income increase of around 11%. It reported a 34.2% growth in the fourth quarter profit on Monday. This was aided by increased demand and accretive contribution from EnLink's acquisition. In November, it announced that it would purchase the remaining shares in EnLink Midstream, after acquiring a 43% control interest from Global Infrastructure Partners, for approximately $3.3 billion. The company reported an increase of 4% in crude oil shipped and a growth of 3% in raw feed volumes for natural gas liquids in the Rocky Mountain Region. Last year, ONEOK purchased an NGL pipeline...

Oil Pipeline

Enbridge reports higher fourth-quarter adjusted profit

Enbridge, the pipeline operator, reported on Friday a higher adjusted profit for its fourth quarter. This was due to higher Mainline tolls as well as lower power costs. The company reported a profit adjusted of C$5.13 (US$3.62 billion) in the quarter ending December 31. This is up from C$4.1billion a year ago. The U.S. Energy Information Administration reported in January that crude oil production in the United States fell marginally from its monthly record of 13,436 million barrels a day in October. This resulted in a boost in crude flow through pipelines. Mainline is the largest crude oil pipeline in...

Oil Pipeline

Williams beats fourth-quarter profit estimates on acquisition gains, raises dividend

Williams increased its dividend after narrowly exceeding Wall Street expectations for fourth quarter profits on Wednesday, thanks to gains from acquisitions as well as expansion projects. The oil and gas transport firm increased its capacity last year in order to take advantage of the expected surge in demand for data centers that consume a lot of power. Last year, the Tulsa-based Oklahoma company purchased natural gas storage assets on the U.S. Gulf Coast for $1.95 Billion from an affiliate of Hartree Partners. Williams' adjusted quarterly core profit for its Transmission and Gulf segments was $826 million, up around 10% from...

Natural Gas Pipeline

Ukraine restricts electricity after Russia attacks on gas infrastructure

German Galushchenko, Ukraine's Energy Minister, stated that Ukraine has imposed emergency electricity restrictions after attacks on the gas infrastructure by Russia overnight and in the morning. In a social media post, Galushchenko stated that the enemy had launched an overnight attack on gas infrastructure. As of this morning, energy is still under attack. Galushchenko did not provide any further details. However, the regional military administration of Poltava said that nine settlements within Myrhorod District were left gasless as a consequence of missile attacks. In recent months, Russia has intensified its drone and missile attacks against the Ukrainian gas production and...

LNG Transportation

The trade war with China casts a shadow over US LNG projects

Analysts, industry sources and company filings say that President Donald Trump's emerging war of trade with Beijing is a threat to the billions of dollars of planned U.S. LNG export projects. Many of these rely on China to be a major buyer. This threat is a reflection of the dual-edged nature Trump's policies. They are meant to boost U.S. businesses and force action against illegal immigration and drug trafficking, but they could also unintentionally undermine his hopes to vastly expand U.S. Energy output. The tariffs could impact long-term contracts and offtake agreements...and may make it harder for new US LNG...

Transportation

Japan considers Alaska LNG Pipeline pledge to win Trump’s favour

Three officials with knowledge of the situation say that Japan may offer support for a $44billion gas pipeline in Alaska to appease U.S. president Donald Trump and avoid potential trade friction. Sources said that officials in Tokyo believe Trump will bring up the project, which is a key part of the U.S. security and prosperity, at his first meeting with Japanese Prime Minister Shigeru ishiba in Washington, as early as next week. The overall cost of gas is causing Japan to doubt the viability the 800-mile pipeline that would link fields in Alaska to a southern port where the gas...

Natural Gas Pipeline

US power stocks plummet as DeepSeek raises data center demand doubts

The shares of U.S. utility, power and natural gas companies fell on Monday, in some of their biggest one-day drops ever recorded, as new AI from Chinese start up DeepSeek cast doubts on the projected surge in U.S. tech spending and electricity demand. The S&P 500 index rewarded power producers last year, as they anticipated a surge in demand for energy from data centers that are needed to scale Big Tech’s artificial intelligence technology. Analysts and economists have said that the wider adoption of AI-based models, such as DeepSeek's, which they claim was built in just two months, and is...

Natural Gas Pipeline

U.S. restores certificate for Williams' Transco pipeline's expansion project

The U.S. energy regulator has actually reinstated the certificate for Williams Companies' Transcontinental Gas Pipeline Line ( Transco) on Friday, the company stated on Monday, which would allow the expansion of the task. In 2015, a U.S. appeals court said the Federal Energy Regulatory Commission (FERC) need to have better assessed the danger of significant greenhouse gas emissions, throwing away its arbitrary and capricious approval of the Regional Energy Gain Access To (REA) expansion job. The company had actually sought a short-term emergency situation certificate with the FERC to continue running its task, in September. Williams developed REA to assist...

LNG Transportation

Endeavor Global LNG raises $1.75 bln after pricing United States IPO

Venture Global LNG has raised $ 1.75 billion after pricing its U.S. initial public offering within variety, the secondlargest exporter of melted natural gas in the United States said on Thursday. The company priced its offering of 70 million shares at $25. each, a day after cutting the price range to between $23 and $27. each and increasing the shares on offer. The company had at first set a target of offering 50 million. shares for $40 to $46 each to raise as much as $2.3 billion for. an appraisal of $110 billion. Endeavor Global was forced to nearly halve...

Europe

Natural Gas Pipeline

Enagas, a Spanish team, loses a game to Peru and U.S. one-off hits

Enagas, the Spanish gas grid operator, posted a loss for 2024 of 299.3 millions euros (312.95 million dollars) after capital losses related to the sale an asset in the United States as well as an arbitration over an investment in Peru. The 2024 loss is compared to a 2023 net profit of 342 5 million euros. The company reported a capital loss of 245.7 million euros related to an arbitration over the investment it made to build a gas pipeline in Peru known as Gasoducto Sur Peruano. The loss is due to the difference between what Peru was ordered to...

Natural Gas Pipeline

Greenpeace files lawsuits against US pipeline companies Energy Transfer

Greenpeace International filed a lawsuit in Dutch court against the U.S. Pipeline company Energy Transfer, the environmental group announced on Tuesday. It said it was the first trial of a European law intended to curb lawsuits meant to silence activists. Energy Transfer has filed lawsuits against Greenpeace USA and Greenpeace International as well as other environmental groups in the United States since 2017 seeking $300 million damages for the activists' efforts to block the Dakota Access Pipeline. Greenpeace International announced in a press release that it will seek to recover all damages and costs as a result ET's two back-to-back,...

Natural Gas Pipeline

Snam to offer stake in ADNOC gas pipelines to Abu Dhabi's Lunate

Italy's gas grid operator Snam will offer its minority stake indirectly kept in ADNOC Gas Pipelines to Abu Dhabibased investment fund Lunate, Snam said on Tuesday. The offer remains in line with the Italian group's long-term strategy to enhance its function in Europe and minimize exposure to properties not situated along the crucial European energy passages. The sale of the stake in ADNOC Gas Pipelines is consistent with the just recently presented tactical plan, which focuses on the advancement of a pan-European multi-molecule infrastructure, Snam's CEO Stefano Venier stated in a declaration. ADNOC Gas Pipelines, a subsidiary of Abu Dhabi...

Western Europe

North Asia

Natural Gas Pipeline

Russian president satisfies Slovak PM as Ukraine gas transit agreement nears expiry

Russian President Vladimir Putin satisfied Slovak Prime Minister Robert Fico in the Kremlin on Sunday, Russian television speaker Pavel Zarubin said, as a contract allowing for Russian gas to transit through Ukraine nears its expiry date. Slovakia depends on gas going through Ukraine, and Fico has actually criticised Ukrainian President Volodymyr Zelenskiy for refusing to extend the contract, which expires at the end of the year. Kremlin spokesperson Dmitry Peskov later on informed the TASS news company that the talks had actually ended. He said the two leaders would not issue a joint declaration. Peskov, shown in a video posted...

Natural Gas Pipeline

Gazprom is blamed by the president of Moldova for the energy crisis

The President Maia Sandu accused Gazprom on Thursday of creating an energy crisis in Moldova. She said the Russian energy giant refused to supply gas via an alternative route, if fuel stopped flowing through Ukraine by the end of the year. Since Kyiv announced that it would not renew its contract with Gazprom at the end of December, Moldova's 2.5 million residents have been preparing themselves for prolonged power outages. Russia provides Moldova with around 2 billion cubic meters of gas each year via Ukraine. This is piped to the breakaway region of Transdniestria which uses the gas to generate...

Natural Gas Pipeline

Russian gas streams to EU through Ukraine down 3% from typical levels

Russian gas exports through Ukraine to Europe were down more than 3% on Sunday and Monday from levels seen in current months, while nominations for gas to and from Slovakia were stable, data from Gazprom and a. pipeline operator revealed. Russian gas manufacturer Gazprom said it would send. 40.8 million cubic metres (mcm) of gas to Europe through Ukraine on. Monday, up from 40.6 mcm on Sunday however down from more than 42. mcm seen in recent months. Russia halted gas supplies to Austria's OMV in. mid-November due to a contractual conflict and a court decision. to award the Vienna-based...

Transportation

Wall Street Journal - Nov. 22

The following are the top stories in the Wall Street Journal. Reuters has actually not confirmed these stories and does not vouch for their precision. - U.S. satellite television service provider DirecTV said on Thursday it had ended its contract to acquire Echostar's. satellite tv service, which includes rival Dish TV,. over a stopped working debt-exchange offer. - U.S. President-elect Donald Trump is considering picking Kevin. Warsh as his Treasury secretary with the understanding that he. could later on be chosen to lead the Federal Reserve when Jerome. Powell's term as chair ends in 2026. - U.S. President-elect Donald Trump...

Natural Gas Pipeline

Huge oil companies defeat US consumer claim over production, prices

Numerous oil companies consisting of Exxon Mobil and Chevron beat an appeal on Monday by customers who implicated them of conspiring with previous U.S. President Donald Trump, Russia and Saudi Arabia to cut oil production, increasing rates at the pump. In a 3-0 choice, the 9th U.S. Circuit Court of Appeals in San Francisco stated 2 dozen consumers could not pursue class action claims due to the fact that they concerned political questions and the oil-producing policies of foreign countries. The court also found an absence of proof that the oil companies violated antitrust law by conspiring to raise rates....

Transportation

NET4GAS says it wins arbitration case versus Gazprom Export payments

Czech gas transmission system operator NET4GAS has won an arbitration case against Russian group Gazprom Export over payments it was owed, the Czech business said. In a filing late on Thursday, NET4GAS said a tribunal had bought (Gazprom Export) to pay the claimed amount together with default interest and reimburse N4G for the costs of the proceedings. Gazprom and Gazprom Export did not immediately respond to a. request for remark. NET4GAS has said it was declaring 113 million euros from. Gazprom Export after the Russian carrier stopped working to make payments. under contracts following the halt in products to Europe...

Transportation

Russia wants to keep gas transit via Ukraine to Europe, Putin says

President Vladimir Putin stated on Thursday that Russia aims to keep pumping gas through Ukraine to the European Union but included that Moscow could not force Kyiv to keep the transit agreement which expires at the end of this year. As for Ukraine, we are not abandoning this transit, strangely enough. Why? Since we, and Gazprom, intend to satisfy all our commitments to our consumers with whom we have long-term agreements, Putin said. There is a transit contract that ends on December 31 of this year. However if Ukraine refuses this transit, well, we can't. force it, Putin stated. Putin...

Natural Gas Pipeline

Tips Poland assisted Nord Stream sabotage are groundless, states presidential assistant

Tips that Ukrainian authorities supported by Poland lagged planning and executing the sabotage attack on Nord Stream gas pipelines in 2022 are groundless, the Polish president's assistant stated on Sunday. Germany's previous intelligence chief August Hanning told Die Welt today he believed there were arrangements in between presidents of Poland and Ukraine to carry out the attack. These are completely groundless insinuations, Mieszko Pawlak, head of the global policy bureau at the office of President Andrzej Duda stated when inquired about the allegations by Polsat broadcaster, PAP newswire reported. Pawlak stated Hanning was serving when Gerhard Schroeder was German chancellor...

Transportation

Gas transit flows typical amid reported clashes near Russia's Sudzha, Kyiv states

Russian natural gas continued to transit Ukraine to European customers as typical on Wednesday, Kyiv's gas transmission operator stated in the middle of reports of clashes near the Russian town of Sudzha where Russian gas flows into Ukraine. As of 13:00 Kyiv time (1000 GMT), gas is being transported to European consumers as normal, with no modifications. Nominations have actually been confirmed and the physical flow of gas is maintained, the operator informed Reuters. Russia's Gazprom said it would send out 39.4 million cubic metres (mcm) of gas to Europe via Ukraine on Wednesday, down from 42.4 mcm on Tuesday....

Natural Gas Pipeline

Ukraine's Naftogaz plans to increase gas, oil output in 2024

Ukraine's biggest state energy business Naftogaz is preparing to increase its gas and oil production this year in spite of a consistent threat of Russian bombardments, its CEO stated on Monday. CEO Oleksiy Chernyshov stated that Naftogaz prepares to produce 15 billion cubic metres of natural gas and 2 million tonnes of oil in 2024. In 2023, the company's gas production amounted to 14 bcm of gas Chernyshov said that Naftogaz's assets, which include gas. storage, oil and gas production centers and circulation networks, and other facilities were under constant hazard of Russian barrages as the war nears its 29th...