Texas

ExxonMobil’s natural gas, crude, power and petroleum products trading as of June 1 will become “one centralized trading organization for the whole corporation,” able to stand with any global competitor, CEO Darren Woods said Friday. The new Global Trading arm has been in the works in some form or fashion since 2018, Woods said during…

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…

A proposed Texas intrastate extension of the Matterhorn Express Pipeline could help preserve stronger pricing at the Katy and Houston Ship Channel (HSC) benchmarks as more natural gas volumes flow from the Permian Basin, according to analysts. Recent filings with the Railroad Commission of Texas outlined plans for the 193-mile Blackfin Pipeline, which would stretch…

A series of bills aiming to shore up the Texas power grid with backup dispatchable power is progressing through the state Senate, though some legislators fear the size and scope of the proposed rules ultimately will not address the reliability issues.  State Republican Sens. Phil King (District 10) and Charles Schwertner (District 5) introduced a…

Sempra on Monday gave the green light to the first phase of the $13 billion Port Arthur LNG export project in Texas, announcing a positive final investment decision (FID) for the facility and closing the necessary financing to move ahead. The company said it also issued a final notice to proceed with the project to…

Upstream oil and natural gas employment in Texas rose by 13.7% year/year in January to a total of 198,100 jobs, according to the Texas Independent Producers and Royalty Owners Association (TIPRO). The figure was up by 1,700 jobs versus December 2022, the group said, citing data from the U.S. Bureau of Labor Statistics (BLS). The…

Pioneer Natural Resources Co. CEO Scott Sheffield expressed a bullish oil price outlook on Thursday (Feb. 23) during the company’s fourth quarter earnings call. Irving, TX-based Pioneer is the largest producer in the Permian Basin, with operations focused on the Midland sub-basin. “We remain highly constructive on oil prices,” Sheffield told analysts. “I’m still very…

Freeport LNG Development LP on Tuesday won approval from federal regulators to restart commercial operations and said it would ramp up to 2 Bcf/d of production, enough to meet its long-term contracts in the coming weeks.  The Federal Energy Regulatory Commission authorized full service to resume on two liquefaction trains eight months after an explosion…

The lack of available storage options for natural gas and fuels continues to challenge the Mexican energy industry, leaving the country vulnerable in the event of supply interruptions, such as aberrational weather or unforeseen outages, executives said last week. Speaking at the 8th Mexico Infrastructure Projects Forum in Monterrey, stakeholders  in Mexico’s government and private…