Business & Markets

CorEnergy Acquires Crimson’s California Pipeline Assets

CorEnergy Infrastructure Trust announced the acquisition of Crimson Midstream Holdings, a California Public Utilities Commission regulated crude oil pipeline owner and operator, for consideration valued at approximately $350 million.

German Government, Gas Industry Locked in Tricky Conflict over Hydrogen Pipelines

The natural gas pipeline industry, which eventually needs to switch to hydrogen, wants an early merger of the two systems and criticized the government's approach for being too slow.

EIA: U.S. Crude Output to Fall More than Previously Forecast This Year

The U.S. government on Tuesday lowered its outlook for crude oil production in 2021 to 11.02 million barrels per day from 11.1 million bpd previously forecast, while oil prices rose on Tuesday for their seventh straight session of gains.

Saudi Aramco Prepares $10 billion Financing for Pipeline Business Buyers

Saudi Aramco is preparing a financing package of up to $10 billion that it could offer to buyers of its pipeline business unit, three sources said, as the oil giant seeks to extract value from its assets in an era of lower oil prices.

ADNOC Natgas Pipeline Investors Galaxy Raise $3.92 billion via Bonds

Galaxy Pipeline Assets BidCo, owned by a consortium of investors that took a stake in Abu Dhabi National Oil Company's (ADNOC) natural gas pipeline assets, launched $3.92 billion in a dual-tranche amortizing bond offering on Tuesday, a document showed.

Germany Planning Phased Intro of Hydrogen Pipeline Transport

The initial focus will be on the switching of existing pipelines carrying hydrogen made from fossil fuels to carry "green" hydrogen, which is made from wind and solar energy via electrolysis, and the building of new green hydrogen pipelines.

Siemens Building CO2-Free Hydrogen Plant

Siemens Smart Infrastructure and WUN H2 GmbH signed a contract to build one of the largest hydrogen production plants in Germany. It will be built in Wunsiedel in the north of Bavaria.

U.S. and Canadian Natural Gas Prices Rise During Arctic Freeze

Next-day gas for Monday rose to its highest since December 2018 at the Waha hub in the Permian basin in Texas where some producers were forced to pay others to take their gas when prices turned negative in October.

Alaska Seeks to Build Natgas Pipeline from North Slope to Fairbanks

The proposed $5.9 billion gas pipe would run roughly 500 miles (805 kilometers) from Prudhoe Bay to Fairbanks and could start delivering gas into central Alaska in 2025.

South Africa’s Gas-to-Power Plan to Boost Pipeline Market

South Africa is eyeing the generation of at least 3,000 MW from various gas-to-power technologies by 2027. This trend is likely to increase investments in natural gas exploration, indigenous production and liquefied natural gas (LNG) imports.

Chevron Offers to Buy Out Noble Midstream

Now Noble Midstream's largest customer, Chevron said taking full ownership of the assets will help it streamline their governance and is in line with the producer's long-term interests.

U.S. LNG Exports Exceed Natural Gas Pipeline Exports

U.S. LNG exports exceeded the country's natural gas exports by pipeline in November 2020 for the second time since 1998.

CONSOLIDATION: Mergers and Acquisitions Embrace Oil Patch

Uncertainty begets caution, which can lead to indecision. In the oil patch this eventually can lead to mergers and acquisitions (M&A) or Chapter 11 bankruptcy filings.

Polish Gas Firm PGNiG's LNG Imports Rise 10%

Liquefied natural gas imports by Poland's dominant gas firm PGNiG rose by 10% in 2020 to 3.76 billion cubic meters, as the company continues to look to reduce its reliance on Russian gas, it said on Thursday.

Enterprise Products Misses Profit Estimates as Costs Surge

The COVID-19 pandemic has crushed global fuel demand and ended a boom in U.S. shale production, forcing pipeline companies that run oil from fields to refineries and export terminals to slash fees to ensure customers keep using their networks.

Russia Lawmaker Suggests Taxing Yamal LNG Over Challenging Gazprom

Russia's flagship liquefied natural gas project, privately-owned Yamal LNG, is challenging state gas giant Gazprom in its core European market, and should either be taxed or have a limit put on its sales there, a lawmaker said.

Tumbleweed Midstream Announces 10-Year Helium Sales Agreement

Colorado’s Tumbleweed Midstream announced it has executed a new 10-year helium sales agreement with a global tier one helium supplier, which will allow Tumbleweed to sell up to 10% of its helium production to third-party buyers.

Germany’s Siemens Gutting Natural Gas Jobs Through 2025

Siemens Energy is cutting about 7,800 natural gas jobs until 2025, the company announced as part of its cost-saving initiatives.

Edge LNG Announces New Texas Facility

Edge Gathering Virtual Pipelines 2, a pioneer in delivering low-cost, high quality LNG to market by converting stranded and flared natural gas, unveiled its new facility in Midland, Texas, due to growing demand for its services.

Phillips 66 Announces Midstream Growth Along with Fourth Quarter Loss

Phillips 66 announced an adjusted loss of $507 million in the fourth quarter of 2020, compared to an adjusted third-quarter loss of $1 million.

Bulgaria Takes 20% Stake in Greek LNG Terminal

Bulgaria's state gas company Bulgartransgaz has finalised a deal to take 20% of Greek company Gastrade, which is developing a floating LNG facility off the city of Alexandroupolis.

EQT and Project Canary Launch Responsibly Sourced Natural Gas Pilot Project

EQT Corporation announced its commitment to a pilot project to demonstrate the production of responsibly sourced natural gas (RSG) for use in domestic and international energy markets.

Russia's Litasco to Financially Help Iraq's Nassiriya Oilfield Double Output

The deal which was approved by the cabinet on Tuesday includes building a 100,000 bpd oil production facility and a 42 km oil pipeline.

Russia's Gazprom Says Natural Gas Fits with Global Climate Goals

Pipeline gas accounted for far fewer emissions than the sea-borne liquefied natural gas, said Elena Burmistrova, head of exports at Russian gas giant Gazprom.

INGAA Sets Net-Zero Emissions Goal for 2050

The Interstate Natural Gas Association of America set a goal for the industry to reach net-zero greenhouse gas emissions from natural gas transmission and storage by 2050, the organization announced along with other commitments to address climate change.

NextEra Energy Posts Loss on $1.2 billion Mountain Valley Pipeline Charge

Mountain Valley pipeline, which stretches from West Virginia to Virginia, is one of the several oil and gas pipelines delayed in recent years by regulatory and legal fights.

Magellan Midstream, Enterprise Combine to Develop Houston Oil Futures Contract

The midstream infrastructure companies said the project is in response to market interest for a Houston-based index with greater scale and price transparency.

Big U.S. Oil Drillers Have Federal Permits to Last Years

The seven companies that control half the federal supply onshore in the Lower 48 states have leases and permits in hand that could last years, despite any ban on new federal drilling like the 60-day halt Biden's administration instituted.

U.S. Set for Record Canadian Oil Imports Even Without Keystone XL

Even without Keystone, the United States now relies on Canada for more than half of its imported oil. Several of the lines carrying that crude are in the midst of expansions.

Oil Steadies After Unexpected Increase in U.S. Crude Stockpiles

Oil prices steadied on Thursday after industry data showed a surprise increase in U.S. crude inventories that revived pandemic-related fuel demand concerns, while U.S. stimulus hopes buoyed prices.