Last updateTue, 22 Jan 2019 8pm


Federal Court Blocks Keystone XL Pipeline

A district court in Montana has halted construction of TransCanada’s Keystone XL oil pipeline, Hydrocarbons Technology reports. The judge “ruled that the administration did not adequately consider the cumulative effects of greenhouse gas emissions and the impact on Native American land resources before approving the pipeline project last year.” 

Louisiana LNG Export Plant on Track for 2019

Tellurian has announced it expects to start construction on its Driftwood LNG export terminal in Louisiana in the first half of 2019 and begin operations in 2023. Tellurian said about 35 customers were interested in partnering with and buying gas from the project.

In addition to the LNG terminal, Tellurian is also developing pipelines to transport gas from shale formations in Texas and Louisiana to LNG terminals and other Gulf Coast customers.

Chief Executive Meg Gentle said in the company’s third-quarter earnings that Tellurian will announce partners in the $27.5 billion project by the end of 2018. 

U.S. Chemical Production Continues to Edge Lower

According to the American Chemistry Council, the U.S. Chemical Production Regional Index edged lower by 0.2% in September, following flat growth in August, and a 0.4% gain in July. During September, chemical output fell across all regions except the Gulf Coast, which was flat.

Chemical production was mixed over the same three-month period. There were gains in the production three-month moving average output trend of plastic resins; pesticides; fertilizers; coatings; adhesives; synthetic dyes and pigments; industrial gases; and other inorganic chemicals. These gains were offset by declines in the output trend in organic chemicals; synthetic rubber; consumer products; and other specialty chemicals. 

U.S. Now World’s Leading Oil Producer

For the first time since 1973 the U.S. leads the world in oil production, overtaking Russia. The U.S. Energy Information Administration says that the U.S. produced more than 11.3 million barrels a day in August, a 4% increase over the old record set in July. Meanwhile Russia produced 11.2 million barrels a day in August, while Saudi Arabia pumped 10.4 million. 

Major Oil & Gas Exporters Face Unprecedented Challenges

Major oil and gas exporters have weathered many upheavals in recent decades but a renewed commitment to reform and economic diversification will be vital to cope with the changing dynamics of global energy. These include rising production from new sources such as shale, uncertainties over the pace of oil demand growth and deployment of new energy technologies, according to a new report from the International Energy Agency. 

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