NGL

Phillips 66 has increased its 2026 capital budget to $2.4 billion, directing more funds toward expanding its midstream NGL network, new fractionation and pipeline projects along the Gulf Coast, and refinery upgrades aimed at higher margins.

Enterprise and ExxonMobil will boost the Bahia NGL pipeline to 1 million bpd and build a 92-mile New Mexico extension serving the Permian Basin under a new joint-interest agreement expected to close in early 2026.

Plains All American has finalized its acquisition of the EPIC Crude Pipeline, gaining full ownership and plans to rebrand the system as Cactus III. The deal is expected to deliver mid-teens returns and cost synergies as Plains integrates the line with its existing Cactus network.

Enterprise Products Partners posted lower third-quarter earnings as weaker natural gas liquids margins offset record pipeline throughput. The company raised its unit buyback authorization to $5 billion and expects 2025 capital spending near the top of its guidance.

APA Corp. reduced U.S. natural gas output by 20 MMcf/d and NGL production by 1,400 bpd during the third quarter amid low commodity prices.

ONEOK contained a fire at its MB-4 fractionator in Mont Belvieu, Texas. The blaze was quickly extinguished with no injuries reported, and other plant operations are expected to resume following safety reviews.

Oman LNG will supply natural gas liquids to OQ under a new four-year deal starting in 2026, with deliveries from Qalhat to Sohar supporting fuels and petrochemical production in line with Oman’s Vision 2040.

A new global outlook projects 549 oil and gas pipelines will start operations by 2030, including 402 gas lines, 73 oil pipelines, 53 product pipelines, and 21 NGL pipelines.

ONEOK posted higher Q2 earnings on rising Rocky Mountain NGL volumes and benefits from acquisitions, reaffirming 2025 guidance and highlighting debt reduction.

APA Corp. reduced U.S. natural gas and NGL production in the second quarter due to weak prices and completed the sale of its New Mexico assets, generating $575 million in proceeds.

President Trump has granted Steel Reef US Pipelines a renewed Presidential Permit to operate and maintain its 8.625-inch NGL pipeline at the U.S.–Canada border in Burke County, North Dakota, reaffirming federal approval for cross-border natural gas liquids exports.

Guyana has launched a pre-qualification process for companies to build a natural gas liquids (NGL) storage and offloading facility. The project will be linked to Exxon's offshore gas pipeline.

Plains All American has agreed to sell its Canadian natural gas liquids (NGL) business to Keyera for $3.75 billion, streamlining its portfolio to focus on U.S. crude operations. The deal, expected to close in Q1 2026, positions Plains as a pure-play midstream crude oil leader while enhancing free cash flow and reducing commodity exposure.

NGPL, one of the largest interstate natural gas pipeline networks in the U.S., spans nine states with approximately 9,100 miles of pipeline, one million horsepower in compression, and 288 billion cubic feet of storage.

U.S. exports of natural gas liquids hit a record high in April despite reduced shipments to China, as global buyers including India and Brazil boosted imports amid shifting trade flows.