Business & Markets

Gazprom Signs Five-Year Natural Gas Deal With Turkmenistan

Gazprom has signed a 5-year contract with Turkmengaz to purchase natural gas, the Russian gas producer said on Wednesday.

UGI Buying $1.28B Columbia Midstream Assets from TC Energy

Energy distributor UGI Corp said on Tuesday it would buy some assets of Columbia Midstream Group from pipeline operator TC Energy Corp for about $1.28 billion to expand its midstream business.

Druzhba Pipeline Flows Resume Full Volume

Russian pipeline monopoly Transneft announced that crude flows have resumed in full on its Druzhba pipeline.

Brazil's Petrobras Seeks to Exit Gas Distribution Business This Year: CEO

Brazil’s state-controlled oil company Petrobras will leave the gas distribution business in Brazil, disposing of all of its assets in the area, Chief Executive Roberto Castello Branco said.

TechnipFMC Awarded Subsea Contracts for Reliance MJ1 Field in India

TechnipFMC said it has been awarded significant subsea contracts by Reliance Industries for the MJ1 field offshore India. The contracts cover fabrication and installation of flexible risers, rigid and flexible flowlines and umbilicals.

Critical Notice on Alliance Pipeline Rearranges Midwest Flows

The Alliance Pipeline posted a critical notice announcing zero flows on the line between June 18-21 for pipeline repairs in Iowa and Illinois, but the region met customer demand using alternative supply options and storage access.

Gazprom Signals Tough Talks with Ukraine on Gas Transit to EU

Alexei Miller, the head of Russian gas giant Gazprom, on Friday warned of difficult talks with Ukraine on gas transit to Europe once the current deal expires at the end of the year.

Plains' Cactus II Oil Pipeline to Begin Line Fill in a Week, According to Source

Plains All American Pipeline LP’s 670,000 bpd Cactus II oil pipeline system from the Permian Basin to the Corpus Christi, Texas area will commence line fill within a week, a source with direct knowledge of the matter said.

Shell Selling Canadian Midstream and Upstream Assets for $140 Million

Canada’s Pieridae Energy will buy gas assets in Alberta from Royal Dutch Shell for $144.77 million, Pieridae said on Wednesday, securing supply for its planned liquefied natural gas plant in eastern Canada.

Canada Eases Oil Production Curtailments for August

Canada is easing its curtailments on crude oil production for August, citing Increased rail capacity and improved pipeline efficiency.

Flint Hills Considering Sale of Texas Crude Export Terminal

U.S. oil refiner Flint Hills Resources is exploring the sale of its crude export terminal near Corpus Christi, Texas, and has hired JP Morgan Chase to market the assets, the company said on Wednesday.

Archrock Acquires Elite Compression for $410 Million

Archrock has agreed to acquire the assets of Elite Compression Services in a $410 million cash and stock deal that adds 430,000 of predominately large-horsepower compression assets to its current 3.5 million-horsepower operations.

Magellan Considering Sale of Stake in Longhorn Pipeline

U.S. pipeline operator Magellan Midstream Partners is exploring the sale of a 35% stake in its Longhorn crude oil pipeline in Texas for as much as $2 billion, four people familiar with the matter said on Tuesday.

Laying of Gas Pipeline Between Finland and Estonia Complete

The laying of a gas pipeline in the Baltic Sea connecting Finland and Estonia, built to help both countries reduce their dependency on Russian gas, has been completed, one of the partners in the project said on Monday.

Ohio Refineries Fear Michigan Line 5 Pipeline Shutdown

Operators of refineries in Ohio are worried that a potential shutdown of a Great Lakes oil pipeline in Michigan could push up their costs or even force them to close.

Syria: Sabotage Damaged Subsea Oil Pipelines

Five underwater pipelines have been damaged and put out of order after a sabotage attack off the coastal town of Banias, Syria's oil ministry.

Druzhba Pipeline Flows to Poland Resume after Shutdown

Oil flows to Poland through the Druzhba pipeline resumed on Thursday after being suspended on Wednesday evening due to the discovery of contaminated oil, Polish pipeline operator PERN said.

Energy Transfer to Expand Dakota Access Capacity

Energy Transfer Partners (ET) plans to nearly double the capacity of Dakota Access Pipeline up to 1.1 MMbpd from a current capacity of more than 500,000 bpd, according to a Wednesday filing with the North Dakota Public Service Commission.

Phillips 66 Plans Crude Export Terminal, New Pipelines Offshore Texas

Phillips 66 confirmed plans for a deepwater crude export terminal off the Texas Gulf Coast to transport production from the Permian and Bakken basins to international markets via its recently announced Red Oak and Liberty pipelines.

Canadian Oil Sector Anticipates Nod for Trans Mountain Pipeline Expansion

Canada's energy sector and politicians across the spectrum were anticipating the government would approve a hotly contested oil pipeline expansion on Tuesday after years of debate and court challenges.

Anadarko to Proceed with $20 Billion Mozambique LNG Project

Anadarko Petroleum Corp has formally sanctioned the construction of a $20 billion gas liquefaction and export terminal in Mozambique, energy consultant Wood MacKenzie said Tuesday. It is the largest single LNG project ever sanctioned in Africa.

Egypt Agrees to Pay Israel $500 Million to End Gas Dispute

Egypt says it has struck a deal with the state-owned Israel Electric Corp to settle a fine for halting deliveries of natural gas.

U.S. Shale Oil Output to Rise to Record 8.52 MMbpd in July EIA

U.S. oil output from seven major shale formations is expected to rise by about 70,000 bpd in July to a record 8.52 million bpd, the U.S. Energy Information Administration said in its monthly drilling productivity report on Monday.

EQM Raises Cost, Delays Timing of Mountain Valley Pipeline

EQM Midstream Partners said Monday it has raised the estimated cost of its Mountain Valley gas pipeline from West Virginia to Virginia to $4.8-$5.0 billion and delayed its completion to mid-2020 due to ongoing legal and regulatory challenges.

U.S. Allows Iraq to Import Iranian Gas for 3 More Months

The United States has allowed Iraq to import Iranian gas for its power grid another three months by extending a waiver to sanctions - but insists that Baghdad seek alternative sources.

Russia's Transneft says Druzhba Pipeline to Resume on July 1

Russian pipeline monopoly Transneft expects the Druzhba pipeline to resume full operations from July 1, TASS news agency cited the company's vice president Sergey Andronov as saying on Friday.

U.S. Senator Introduces Bill to Sanction Nord Stream 2 Pipeline

U.S. Senator John Barrasso introduced a bill to slap sanctions on individuals and companies developing Russia's Nord Stream 2 natural gas pipeline, a day after President Trump said he was considering sanctions on the pipeline.

ExxonMobil to Expand Infrastructure for Growing Argentina Production

ExxonMobil announced it will proceed with a long-term oil development in Argentina's Vaca Muerta shale, including the construction of pipeline and export infrastructure to support an expected 55,000 oil-equivalent bpd by 2024.

Trump Considering Sanctions Over Russia's Nord Stream 2

U.S. President Donald Trump said on Wednesday he was considering sanctions over Russia's Nord Stream 2 natural gas pipeline project and warned Germany against being dependent on Russia for the fuel.

Major Restructuring of Middle East Gas Exports

In the Eastern Mediterranean, large discoveries of natural gas have been found off the coast of Israel and Egypt earlier in the decade. This together with increased demand for gas across the region are now reshaping both production and market demand, requiring construction of a series of new pipelines and LNG import and export facilities.