Marathon

Marathon Petroleum Corp. continues to evaluate converting its Kenai LNG export terminal in Alaska to import the super-chilled fuel, a project the company said ultimately could be larger than originally planned to help meet local natural gas demand. FERC approved a Marathon subsidiary’s request in 2020 to convert the Kenai terminal, which hasn’t exported any…

Japan’s Mitsui & Co. Ltd. has added an upstream foothold in the Eagle Ford Shale of South Texas, with plans to serve LNG export demand, as well as low-carbon ammonia and methanol production on the Gulf Coast. The Tokyo-based conglomerate said Thursday it has completed the acquisition of a roughly 92% working interest in an…

Marathon Oil Corp., a Chevron Corp. subsidiary and the Republic of Equatorial Guinea (EG) have inked an agreement to increase natural gas and condensate exports from the EG Regional Gas Mega Hub (GMH). The first phase of the collaborative GMH project has been operating since early 2021, when gas from the offshore Alen gas field…

Mergers and acquisitions (M&A) within the U.S. upstream fell to their lowest annual volume in nearly two decades last year, according to new research by Enverus Intelligence Research (EIR). Exploration and production (E&P) firms recorded 160 transactions valued at $58 billion total, the Enverus subsidiary found. This is the lowest number of deals since 2005.…

Mergers and acquisitions (M&A) within the U.S. upstream fell to their lowest annual volume in nearly two decades last year, according to new research by Enverus Intelligence Research (EIR). Exploration and production (E&P) firms recorded 160 transactions valued at $58 billion total, the Enverus subsidiary found. This is the lowest number of deals since 2005.…

A Marathon Petroleum Corp. (MPC) subsidiary has asked FERC for a three-year extension to transform the Kenai LNG export facility in Alaska to an import terminal. Trans-Foreland Pipeline Co. LLC cited the Covid-19 pandemic, disruptions in the global energy market caused by Russia’s war in Ukraine and an unstable liquefied natural gas (LNG) market in…

Even if oil prices continue to improve in 2022, Marathon Oil Corp. is planning to keep production growth flat in order to ensure market-beating returns for investors, executives said.  During a conference call to discuss fourth quarter and full-year 2021 results, CFO Dane Whitehead said the Houston-based independent has a mandate to return at least…

FERC has approved a Marathon Petroleum Corp. subsidiary’s request to convert the Kenai liquefied natural gas (LNG) export terminal in Alaska to import operations.  Trans-Foreland Pipeline Co. LLC filed an application to import natural gas earlier this year at the terminal in Nikiski on the Kenai Peninsula. The facility began operating in 1969 and for…

A slew of Lower 48 oil and natural gas producers reacted swiftly to the plummet in crude prices Monday by reducing planned spending and activity through the rest of the year.