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12 July 2025
Pipeline Gas Journaloil-gas
Jul 12, 2025Pipeline Gas Journal
(Reuters) — Venezuelan state-run PDVSA's oil sales abroad in 2024 stood at $17.52 billion, according to a results document seen by Reuters on Friday, as exports jumped due to U.S. licenses allowing foreign partners to operate in the sanctioned OPEC member.
There are no comparative figures from previous years because PDVSA has not published its results since 2016, and it did not immediately respond to a request for comment.
Venezuela has some of the world's largest reserves of oil, but its crude output remains at a fraction of what it was a decade ago after a lack of investment, mismanagement at PDVSA and U.S. sanctions on Venezuela's energy industry since 2019.
The licenses to U.S. oil major Chevron and other foreign firms in Venezuela have allowed a slight recovery in oil output and exports since 2023.
In late May, however, Washington revoked those licenses to take Venezuelan crude bound for U.S. and European refineries.
PDVSA's crude oil and fuel exports averaged 805,500 barrels per day (bpd) last year, according to preliminary data from its 2024 financial and operational results.
That would be an over 15% hike from almost 700,000 bpd in 2023, according to data and documents viewed by Reuters.
According to PDVSA's results, the OPEC member produced an average of 952,000 bpd in 2024, compared with 783,000 bpd in 2023 reported by OPEC.
President Nicolas Maduro and his government have always rejected sanctions by the United States and others, saying they are illegitimate measures that amount to an "economic war" designed to cripple Venezuela.
Maduro and his allies have cheered what they say is the country's resilience despite the measures, though they have historically blamed some economic hardships and shortages on sanctions.
Crude production was above 1 million bpd in the first quarter of 2025, according to the results documents, and authorities have said that exports continue to perform normally.
In June, crude and fuel exports were 844,000 bpd, and were directed to China, according to shipping data and documents.
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Venezuela'S Pdvsa Reports $17.5 Billion In 2024 Oil Revenue As Exports Jump(Reuters) — Venezuelan state-run PDVSA's oil sales abroad in 2024 stood at $17.52 billion, according to a results document seen by Reuters on Friday, as exports jumped due to U.S. licenses allowing foreign partners to operate in the sanctioned OPEC member.
There are no comparative figures from previous years because PDVSA has not published its results since 2016, and it did not immediately respond to a request for comment.
Venezuela has some of the world's largest reserves of oil, but its crude output remains at a fraction of what it was a decade ago after a lack of investment, mismanagement at PDVSA and U.S. sanctions on Venezuela's energy industry since 2019.
The licenses to U.S. oil major Chevron and other foreign firms in Venezuela have allowed a slight recovery in oil output and exports since 2023.
In late May, however, Washington revoked those licenses to take Venezuelan crude bound for U.S. and European refineries.
PDVSA's crude oil and fuel exports averaged 805,500 barrels per day (bpd) last year, according to preliminary data from its 2024 financial and operational results.
That would be an over 15% hike from almost 700,000 bpd in 2023, according to data and documents viewed by Reuters.
According to PDVSA's results, the OPEC member produced an average of 952,000 bpd in 2024, compared with 783,000 bpd in 2023 reported by OPEC.
President Nicolas Maduro and his government have always rejected sanctions by the United States and others, saying they are illegitimate measures that amount to an "economic war" designed to cripple Venezuela.
Maduro and his allies have cheered what they say is the country's resilience despite the measures, though they have historically blamed some economic hardships and shortages on sanctions.
Crude production was above 1 million bpd in the first quarter of 2025, according to the results documents, and authorities have said that exports continue to perform normally.
In June, crude and fuel exports were 844,000 bpd, and were directed to China, according to shipping data and documents.
Pipeline Gas Journal
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12 July 20252 min readVenezuela'S Pdvsa Reports $17.5 Billion In 2024 Oil Revenue As Exports Jump
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12 July 2025
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208-Mile Mississippi-To-Alabama Gas Pipeline Moves Into Ferc ReviewBy Mary Holcomb, Digital Editor
(P&GJ) — Kinder Morgan’s Tennessee Gas Pipeline Company, L.L.C. (TGP) has filed a formal application with federal regulators to build the Mississippi Crossing Project (MSX), a $1.7 billion natural gas pipeline expansion designed to deliver 2.1 billion cubic feet per day (Bcf/d) of firm transportation capacity across Mississippi and Alabama.
The project includes 208 miles of new pipe — the centerpiece being a 199-mile, 42- and 36-inch mainline stretching from Greenville, Mississippi, to Butler, Alabama. Additional infrastructure includes three new compressor stations, multiple interconnects, and four metering facilities.
TGP submitted its Certificate of Public Convenience and Necessity application to the Federal Energy Regulatory Commission (FERC) on June 30, 2025, officially moving the project into the federal review phase. The filing followed the May 31 submission of all required environmental resource reports, which included consultations with regulatory agencies and other stakeholders.
SEE ALSO: FERC OKs Construction on Mississippi Hub Gas Storage Expansion
The project is backed by strong market demand, with more than 90% of its capacity under long-term precedent agreements. Customers include major Southeast utilities and power generators such as Southern Company Services, Dominion Energy South Carolina, Tennessee Valley Authority, and the Municipal Gas Authority of Georgia. TGP affiliate Southern Natural Gas Company has secured 1.17 Bcf/d of capacity to serve downstream users.
TGP is requesting FERC approval by July 1, 2026, with construction scheduled to begin in January 2027 and the pipeline expected to enter service by November 2028.
An independent market analysis submitted with the application projects that natural gas demand in Mississippi and Alabama will grow by 8% by 2030, driven by coal retirements, increased electricity generation, and industrial activity. Current infrastructure in the region is operating near peak capacity.
In addition to enhancing energy reliability, the project is expected to provide a significant economic boost. TGP estimates it will support 4,760 to 9,820 average annual jobs across Mississippi, Alabama, and Georgia during construction, generating between $950 million and $2.4 billion in regional economic output.
To help reduce environmental and community impacts, approximately 28% of the proposed route will parallel existing infrastructure corridors, and several segments will be installed using horizontal directional drilling.
Mary Holcomb is the Digital Editor & Operations Manager at Gulf Energy Information, overseeing the Pipeline & Gas Journal, World Oil, and Underground Infrastructure brands. With over 5 years of experience, she drives digital content strategy and operations for these industry-leading publications.
Pipeline Gas Journal
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12 July 20253 min read208-Mile Mississippi-To-Alabama Gas Pipeline Moves Into Ferc Review
Pipeline Gas Journal
12 July 2025
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Adnoc Gas And Sefe Signs $400 Million Lng Supply AgreementUAE’s ADNOC Gas Plc and its subsidiaries (ADNOC Gas) announced that it has entered into a three-year liquefied natural gas (LNG) supply agreement with Germany’s SEFE Securing Energy for Europe, for the delivery of 0.7 million tonnes of LNG with deliveries commencing this year.
The agreement, valued at approximately $400 million (AED1.5 billion) over its three-year term.
The company stated that the agreement highlights ADNOC Gas’ continued expansion into global markets, with LNG supplied from ADNOC Gas’ Das Island liquefaction facility – a key asset in the company’s portfolio. With a production capacity of 6 mtpa, Das Island’s LNG plant has shipped over 3,500 LNG cargoes worldwide since starting operations in 1977, strengthening ADNOC Gas’ long-term relationships with key global energy partners.
Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, said: “This agreement marks a significant step in strengthening our long-standing partnership with SEFE and reinforces ADNOC Gas’ role as a reliable and responsible global energy provider, committed to supporting Germany’s energy security. It also reflects the strong progress we are making in delivering our strategic objectives and demonstrates the confidence our partners, investors, and stakeholders place in our ability to create long-term value in a dynamic energy landscape.”
The agreement builds on the ongoing strategic collaboration between the UAE and Germany, including the 2022 Energy Security and Industry Accelerator (ESIA) pact and the 2024 Joint Declaration with the state of Baden-Württemberg, both aimed at fostering energy security and sustainable fuel development.
Frédéric Barnaud, Chief Commercial Officer of SEFE, said: “Over the past two decades, we’ve built a strong partnership with ADNOC, and we value our relationship with such a reputable and reliable supplier. This new medium-term LNG contract builds on the long-term supply agreement with ADNOC that we signed last year, thereby adding another flexible source of LNG to our portfolio – to the benefit of both Europe’s security of supply and our global market trading activities.”
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10 July 20252 min readAdnoc Gas And Sefe Signs $400 Million Lng Supply Agreement
Saudi Gulf Projects
10 July 2025
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New Fortress $20 Billion Gas Deal Halted By Puerto Rico Watchdog(Reuters) — Puerto Rico's finance regulator has halted New Fortress Energy's $20 billion natural gas supply deal over monopoly concerns, Bloomberg News reported on July 10, citing a letter to the island's energy czar, Josue Colon.
Shares of the company were down 7.6% in afternoon trading.
The Financial Oversight and Management Board said it has "profound concerns" about a proposed 15-year contract between New Fortress' subsidary Genera PR and the company's unit that delivers liquefied gas, the report said.
New Fortress Energy did not immediately respond to a Reuters request for comment.
Pipeline Gas Journal
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10 July 20251 min readNew Fortress $20 Billion Gas Deal Halted By Puerto Rico Watchdog
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Uk Bags $10B Japanese Investment For Offshore Wind And Hydrogen ProjectsThe U.K. government has unlocked $10.1 billion investment into key clean energy projects, like offshore wind and hydrogen, with the signing of a new deal with the Sumitomo Corporation in Tokyo.
Sumitomo Corporation aims to facilitate the investment into key U.K. infrastructure and clean energy projects by 2035, backing the government’s aim to significantly increase long-term business investment into key growth sectors following the publication of the Modern Industrial Strategy and the 10-Year Infrastructure Strategy.
The investment will be focused on key offshore wind and hydrogen projects, supporting the U.K.’s aim to become a clean energy superpower, according to the government.
“The U.K. is a top investment destination for Japanese businesses, so I’m delighted to be in Tokyo to sign this new collaboration with Sumitomo Corporation. This is yet another major vote of confidence in our economy and shows international backing for our modern Industrial Strategy, which shows our Plan for Change is working.
“We’re serious about clean energy as a key growth sector, and deals like this create high value jobs, encourage further investment into our world-leading industry and help boost economic growth right across the U.K.,” said Poppy Gustafsson, U.K. Minister for Investment.
Offshore Engineer
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09 July 20251 min readUk Bags $10B Japanese Investment For Offshore Wind And Hydrogen Projects
Offshore Engineer
09 July 2025
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Hynamics Uk And Hy24 To Develop $407M Green Hydrogen Facility In UkHynamics UK, a subsidiary of EDF Group, and Hy24 have partnered to advance the development of the Fawley green hydrogen project, to be situated beside the Esso Fawley refinery in Hampshire, England.
The project was selected in the UK government’s subsidy scheme, Hydrogen Allocation Round 2 (HAR2), in April 2025.
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Hy24, through its clean hydrogen infrastructure fund, will engage in exclusive negotiations to fund a £300m ($407m) hydrogen electrolytic production facility.
Hy24 UK, Southern Europe and MENA head Amir Sharifi stated: “The policy landscape in the UK is providing the certainty and clarity needed to enable decarbonisation projects at the right scale and pace. We see this as a very positive signal and a strong opportunity for Hy24 to expand into the UK for the first time, alongside partners who are deeply committed to the energy transition.
“The reality is that leadership positions across the hydrogen value chain are being shaped now – and the UK has shown remarkable consistency and determination in this regard. In this context, Hynamics UK stands out as one of the most advanced players, and we are pleased to solidify our partnership with them to help accelerate the development of the UK’s hydrogen economy.”
The project will supply ExxonMobil’s petrochemical complex with green hydrogen as it seeks decarbonisation solutions.
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The proposed project will include a 120MW electrolyser, which could potentially save up to 100,000t per year of CO₂ by replacing heavy fuel oil and grey hydrogen with its low-carbon hydrogen.
Hynamics UK CEO Pierre de Raphélis-Soissan stated: “I am delighted with this partnership with Hy24, which marks a new stage in the development of Hynamics’ projects in the United Kingdom.
“This agreement is a continuation of the relationship of trust that has been built up over several years. Our MoU is in line with the Clean Industrial Strategy presented by the British government in June [2025] and is a testimony to the potential for cooperation between industrial and financial players across the Channel.”
Offshore Technology
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09 July 20252 min readHynamics Uk And Hy24 To Develop $407M Green Hydrogen Facility In Uk
Offshore Technology
09 July 2025
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South Africa: Hive Hydrogen Invites Proposals For $5.8B Green Ammonia ProjectRenewable energy company Hive Hydrogen South African has issued requests for proposals to develop the $5.8 billion Coega Green Ammonia project in the Eastern Cape province.
The project, situated near Gqeberha, aims to produce over one million tons of green ammonia annually using renewable energy from a 1,430 MW solar PV cluster and 1,879 MW of wind power.
The plant will include seawater abstraction, desalination, demineralization facilities, storage for 70,000 tons of green ammonia and two 7km pipelines for product transport.
A final investment decision is anticipated in Q3 2026, with production expected to start by 2029. 15 engineering procurement and construction firms have been shortlisted to develop the project.
The project is a joint venture between global green company Hive Energy and investment and development firm BuiltAfrica Group. Green ammonia produced from the project is targeted primarily at export markets such as Japan and South Korea.
Energy Capital Power
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08 July 20251 min readSouth Africa: Hive Hydrogen Invites Proposals For $5.8B Green Ammonia Project
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08 July 2025
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Consumers Energy Upgrades 135-Mile Natural Gas Pipeline In MichiganConsumers Energy is working on a summer construction programme to replace 135 miles of century-old cast-iron and steel pipelines across 15 communities in the US state of Michigan.
As part of the Natural Gas Delivery Plan, the programme will upgrade the company’s statewide natural gas system, affecting over 1.8 million customers.
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More than 600 employees and contractors are engaged in the effort, ensuring the natural gas system can withstand all seasons.
Consumers Energy natural gas engineering and supply vice-president Holly Bowers stated: “These projects are a visible demonstration of Consumers Energy’s commitment to delivering natural gas safely, affordably and reliably to our friends and neighbours who count on us.
“We focus on work that will have the most impact, ensuring that our natural gas system will be reliable for many more years.”
The construction is spread across various regions and includes an 18-mile stretch in Livonia and Warren, and smaller projects in Bloomfield, Pontiac and Royal Oak in southeast Michigan.
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Flint will see 10 miles of upgrades, with additional work in Owosso and Fowlerville. Saginaw/Bay City, Kalamazoo, Lansing and Midland are also on the list.
These projects complement the ongoing Four Cities metro pipeline replacement in southeast Michigan, part of a broader initiative that will extend throughout the decade. Local pipeline upgrades are also being conducted statewide.
The modernisation is expected to keep household costs below $3 a day. It will provide affordable natural gas and stimulate the economy through job creation in the coming years.
Bowers added: “We appreciate the patience of our customers as we carry out these upgrades in the coming months and continue to deliver natural gas reliably and affordably, regardless of what Mother Nature throws at us.”
Offshore Technology
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08 July 20252 min readConsumers Energy Upgrades 135-Mile Natural Gas Pipeline In Michigan
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Exxon Expects $1.5 Billion Earnings Drop From Lower Oil, Gas Prices(Bloomberg) -- ExxonMobil expects lower oil and gas prices to reduce the company’s earnings by about $1.5 billion as a volatile quarter for commodity prices weighs on second-quarter profits.
Oil prices pulled down earnings by about $1 billion while gas contributed another $500 million hit when compared to the first quarter, the Spring, Texas-based company said in a statement Monday. European rival Shell Plc’s shares fell 3.3% Monday after guiding to “significantly lower” trading earnings than the previous quarter.
The two oil giants’ outlook points to a downbeat quarter for the industry, which was already struggling to generate enough free cash to cover the dividends and share buybacks companies hiked after record earnings in 2022. U.S. President Donald Trump’s trade war and larger-than-expected supply increases from OPEC and its allies weighed on oil prices, while U.S. and Israeli attacks on Iran only provided a temporary uplift.
Exxon expects some respite from refining margins, which will add about $300 million to earnings, the company said. The guidance only refers to market pricing and does not factor in operational performance like changes to production or costs, the company said.
Exxon’s guidance is “bang in line” with analysts’ estimates for the second quarter, RBC Capital Markets analyst Biraj Borkhataria said in a research note. Exxon “has a much smaller trading organization than its European peer Shell, and thus was not impacted by the same issues.”
World Oil
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07 July 20252 min readExxon Expects $1.5 Billion Earnings Drop From Lower Oil, Gas Prices
World Oil
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Consumers Energy Begins 135-Mile Michigan Gas Pipeline Upgrade, Taps 600 Workers(P&GJ) — Consumers Energy has begun a summer construction program to replace 135 miles of century-old cast-iron and steel pipe across 15 Michigan communities, the utility said July 7.
The work is part of the company’s long-term Natural Gas Delivery Plan and involves more than 600 employees and contractors.
SEE ALSO: $182 Million Gas Pipeline Replacement Project Kicks Off in Southeast Michigan
“These projects are a visible demonstration of Consumers Energy's commitment to delivering natural gas safely, affordably and reliably to our friends and neighbors who count on us,” said Holly Bowers, vice president of natural gas engineering and supply. “We focus on work that will have the most impact, ensuring that our natural gas system will be reliable for many more years.”
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The company is also continuing work on the Four Cities Metro Pipeline, a major replacement project in Southeast Michigan, along with numerous smaller upgrades statewide.
Bowers urged motorists to expect intermittent lane closures and to use caution near job sites. The utility says the upgrades will keep average residential gas costs under $3 per day while supporting job growth over the next decade.
“We appreciate the patience of our customers as we carry out these upgrades in the coming months and continue to deliver natural gas reliably and affordably, regardless of what Mother Nature throws at us,” Bowers added.
Consumers Energy supplies natural gas and/or electricity to 6.8 million residents throughout Michigan’s Lower Peninsula.
Pipeline Gas Journal
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07 July 20252 min readConsumers Energy Begins 135-Mile Michigan Gas Pipeline Upgrade, Taps 600 Workers
Pipeline Gas Journal
07 July 2025
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Adnoc Drilling Awarded Five-Year Contract For Oilfield Services Worth Up To Us$800 MillionADNOC Drilling Company PJSC has announced the award of a contract valued at up to US$800 million by ADNOC Onshore for the provision of integrated hydraulic fracturing services for conventional and tight reservoirs. The five-year agreement is set to commence in 3Q25, marking another significant milestone in ADNOC Drilling’s evolution as a fully integrated technology-enabled energy services company.
This award further reinforces ADNOC Drilling’s leadership in high-tech oilfield services, combining next-generation equipment, artificial intelligence (AI) and real-time intelligence to deliver smarter, safer and more sustainable energy outcomes.
Commenting on the award, Abdulla Ateya Al Messabi, ADNOC Drilling CEO, said: “This significant contract is a powerful endorsement of ADNOC Drilling’s expanding capabilities and our trusted partnership with ADNOC Onshore. It reflects our ability to deliver high-impact, technologically advanced fracturing services that will help unlock the UAE’s energy potential. As we continue our transformation, we are proud to support the nation’s strategic energy goals and reinforce our position as a leader in integrated drilling and completion solutions.”
The contract’s scope of work supports ADNOC’s strategic goal to accelerate the development of conventional and tight reservoirs across the UAE and includes the design, execution and evaluation of multistage hydraulic fracturing treatments, which will be deployed across a wide range of assets in Abu Dhabi. Fracturing services for conventional and tight reservoirs are used to enhance the flow of oil or gas through existing natural pathways and optimise production by improving flow rates.
ADNOC Drilling will deploy advanced technologies throughout the project to maximize efficiency and performance. Proprietary fracturing simulation software will be used to optimise every stage of the operation, increasing flow rates and overall hydrocarbon recovery. Intelligent fluid systems will adapt dynamically in real-time to reservoir conditions, improving fracture efficiency and reducing environmental impact. Automated pumping units and blending systems will enhance safety, streamline operations and reduce the need for on-site manpower.
This marks the fifth contract in just over two months, including a US$1.63 billion five-year contract for Integrated Drilling Services (IDS), a US$806 million contract for three island rigs and a US$1.15 billion 15-year contract for two jack-up rigs, all awarded by ADNOC Offshore, and a US$400m backlog of ADNOC Drilling’s signed acquisition in Oman and Kuwait.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/02072025/adnoc-drilling-awarded-five-year-contract-for-oilfield-services-worth-up-to-us800-million/
The newly installed equipment and facilities are working well and continue to be fine-tuned to optimise production.
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02 July 20253 min readAdnoc Drilling Awarded Five-Year Contract For Oilfield Services Worth Up To Us$800 Million
Oilfield Technology
02 July 2025
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Dno Inks Gas Offtake Deal With Engie, Secures $500M Financing FacilityNorwegian oil and gas operator DNO has entered into an offtake agreement with France’s Engie for its Norwegian gas production and secured a related offtake financing facility with a major U.S. bank for up to $500 million.
The offtake agreement, secured through DNO’s Norway operating subsidiaries, covers the entirety of its Norwegian gas production post acquisition of Sval Energi, offers premium pricing and has a tenor of four years as from October 1, 2025.
Related to the agreement, DNO has entered into an offtake financing facility with a U.S. bank for up to $500 million.
Under the facility, DNO is paid, by the bank, the value of up to 270 days of scheduled gas production based on future gas sales receivables.
The all-in interest rate for drawn amounts under the facility is significantly below conventional reserve-based lending (RBL) terms available to DNO, with no charges for undrawn amounts. There are no financial covenants related to the facility.
Proceeds from the offtake financing facility will be used to replace Sval Energi’s similar existing facilities as well as for general corporate purposes.
In June, DNO completed the acquisition of Sval Energi from HitecVision, picking up 16 producing fields in Norway and quadrupling its North Sea production to 80,000 barrels of oil equivalent per day (boepd).
“We have received strong interest by buyers to prepurchase our enlarged North Sea production of 80,000 barrels of oil equivalent per day split about equally between oil and gas.
“These three-way transactions are made possible because buyers are eager to lock in secure supplies of Norwegian oil and gas and US banks, in particular, have significantly stepped up fossil fuel lending,” said DNO’s Executive Chairman Bijan Mossavar-Rahmani.
Given availability of attractive offtake financing terms, DNO has repaid and will not renew over $600 million in RBLs across its North Sea subsidiaries. In addition, the company has borrowed #300 million under a one-year bank bridge loan ‘to add more arrows to its quiver’, according to Mossavar-Rahmani.
Separately, DNO said it was in discussions to establish an offtake agreement and related financing facility on comparable terms for its North Sea oil production.
Offshore Engineer
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02 July 20252 min readDno Inks Gas Offtake Deal With Engie, Secures $500M Financing Facility
Offshore Engineer
02 July 2025
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