Enbridge Inc., the Canadian pipeline giant, agreed to acquire Moda Midstream Operating LLC for $3 billion to add U.S. Gulf Coast oil export capacity. The deal will connect Enbridge with oil produced in the Permian and Eagle Ford shale basins. SourceContinue Reading
European natural gas futures surged to record highs on Monday as the amount of Russian gas flowing into Europe through a key entry point dipped, crimping supplies in an already tight market. SourceContinue Reading
Aquaterra Energy has secured a multi-million-dollar agreement with a supermajor to deliver multiple Sea Swift platforms over a three-year period. The platforms will be destined for off the coast of the Cabinda Province, offshore Angola. SourceContinue Reading
Cairn Energy Plc shareholders can expect a payback of as much as $700 million once the UK oil producer settles a long-running tax dispute with India. SourceContinue Reading
India’s top energy companies, Petronet LNG Ltd. and ONGC Videsh Ltd., are having discussions about buying a stake in Russia’s planned liquefied-gas project Arctic LNG 2 as their government seeks to secure supplies of the cleaner burning fuel. SourceContinue Reading
Oil extended losses after Saudi Arabia slashed crude prices for Asian buyers, raising the prospect of fierce competition among sellers as the resurgence of Covid-19 continues to cloud the demand outlook. SourceContinue Reading
Saudi Arabia cut oil prices for sales to Asia next month by more than twice the expected amount in a sign the world’s largest crude exporter wants to entice buyers to take more of its barrels. SourceContinue Reading
Federal authorities are responding to a 14-mile long oil spill in the Gulf of Mexico discovered in the aftermath of Hurricane Ida, according to the Louisiana Oil Spill Coordinator’s Office. SourceContinue Reading
Talos Energy Inc., the U.S. offshore explorer behind Mexico’s largest oil discovery in years, is taking the first step toward an international dispute after control of the field was given to state producer Pemex. SourceContinue Reading
The U.S. is granting a second refiner in Louisiana access to the country’s emergency crude stockpiles as most oil-producing platforms in the Gulf of Mexico remain offline after Hurricane Ida. SourceContinue Reading
