Industry News

HGPA news feed

The Natural Gas Industry is constantly growing and changing, so from time to time HGPA and GPA have news that we want to share with our members and the Midstream Community.
 
You can check out our News Releases and updated articles from other internet sources regarding the natural gas industry here on our HGPA News Feed. So check back often and stay up to date! 

Latest Articles

07/13/2018
The Pennsylvania Public Utility Commission on July 12 unanimously rejected a petition by Buckeye Partners to reverse a western portion of the Laurel product pipeline that connects Philadelphia area refiners to the Pittsburgh market. The partial reversal of the traditional westward flow on of the 350-mile (563-km) pipeline to bring 40,000 bbl/d of fuels, including gasoline and diesel, to Pennsylvania would have given Midwest refiners like Marathon Petroleum Corp and Husky Energy greater access to the Pittsburgh market, while essentially cutting off their East Coast peers.
07/13/2018
China’s crude oil imports fell for a second month in a row in June to the lowest since December, as shrinking margins and volatile oil prices led some independent refiners, known as “teapots,” to scale back purchases. June shipments came in at 34.35 million tonnes, or 8.36 million barrels per day (bbl/d), according to data from the General Administration of Customs. That was down 9% from 9.2 million bbl/d in May and also down from 8.8 million bbl/d in June last year. Thomson Reuters Oil Research had pegged China’s crude oil arrivals in June at 35.13 million tonnes.
07/13/2018
Changing supply and demand fundamentals have led the team of commodity strategy analysts at RBC Capital Markets to shift from an oil view of “calculated optimism” to one that is “structurally bullish.” RBC issued a report in late June outlining the factors at work that for oil markets that could be “the most constructive in years.” Behind the increasingly positive market response is OPEC’s return to 100% compliance and a resulting focus on spare capacity, according to the report. “First, it highlights the market’s lack of concern around cheating and second, it potentially questions whether OPEC will be challenged to even reach full compliance if production losses continue to mount over the back half of the year,” RBC analysts said.
07/13/2018
Russia and other leading oil producers may boost oil output further if supply shortages hit the global oil market, Russian Energy Minister Alexander Novak said July 13. The expected drop in Iranian crude exports this year due to renewed U.S. sanctions, coupled with a decline in Venezuela's production and outages in Libya, Canada and the North Sea have driven oil prices to their highest since 2014 in recent weeks. OPEC and other key producers including Russia responded to the tightness by easing a supply-cut agreement in June. The deal effectively increases combined oil output by 1 million barrels per day (bbl/d), of which Russia's share stands at 200,000 bbl/d.
07/13/2018
French oil and gas major Total SA (NYSE: TOT) said July 13 that it has completed a $1.5 billion deal to acquire Engie SA's upstream LNG business to become the second-largest player in the global LNG market. Under the deal, Total said it would make additional payments of up to $550 million to Engie if there was an improvement in the oil markets in the coming year. Total CEO Patrick Pouyanne said in a statement that the deal will give the company a worldwide market share of 10%.
07/12/2018
Ethane shot past 36 cents per gallon (gal)—an 8.4% jump—last week at Mont Belvieu, Texas, to accompany a 23.91% widening of its margin to almost 18 cents/gal. It is now up 74% for the year in price and 521% (yes, 521%) in margin. Not bad if you like that sort of thing. The near-term outlook is promising. U.S. domestic consumption is on track to increase by 55% from 2014 to 2019, the U.S. Department of Energy (DOE) calculated in a June report. Almost all domestic output is dedicated as a feedstock for petrochemical plants that manufacture ethylene. A slew of new ethylene plant projects will increase U.S. capacity to nearly 600,000 bbl/d by year-end 2019.
07/12/2018
ExxonMobil Corp. (NYSE: XOM) will expand its Rovuma LNG project in Mozambique by half to cut production costs as the partners prepare to book the plant’s supply and formally tap lenders in September, the company told Reuters on July 12. The U.S. oil giant took charge of the East African LNG project’s onshore operations following a $2.8 billion deal with Italy’s Eni (NYSE: E) last year, adding to its slate of planned gas projects in Qatar, Papua New Guinea, Russia and the U.S.
07/12/2018
Long dominated by deals struck in secret, the $230 billion LNG industry is slowly seeing light as global traders push for more transparency in the booming market. Over the past two months, commodity price agency S&P Global Platts and Australia-headquartered LNG trading marketplace Global LNG Exchange (GLX) facilitated the first transparent physical trades in their platforms. It was the first time in nearly a decade since Platts kicked off its Asian LNG derivative price assessment that it disclosed trading parties of a physical trade on its platform.
07/12/2018
BlackRock Inc. (NYSE: BLK) is planning to raise $3.5 billion for investments in energy infrastructure in what is poised to be its largest alternative investment fund yet, an executive at the world’s largest asset manager told Reuters. The company announced on July 11 that it has already raised $1.5 billion for the Global Energy and Power Infrastructure Fund III. The private fund will focus on operating infrastructure, such as power plants, pipelines and wind farms, in developed markets, potentially including the U.S.
07/12/2018
The Kremlin on July 12 rejected President Donald Trump's description of Germany as a "captive" of Russia due to its energy reliance, saying his statement was part of a U.S. campaign to bully Europe into buying American energy supplies. Trump told Germany at a NATO summit in Brussels on July 11 that it was wrong to support an $11 billion Baltic Sea pipeline to import even more Russian gas while being slow to meet NATO targets for defense spending. Trump's comments came ahead of his summit on July 16 with Russian President Vladimir Putin in Helsinki, though the Kremlin said they were unlikely to have an impact on what was always going to be a difficult meeting due to the number of disagreements between the two countries.

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