Business News

Sources: US Slowing Down Oil and Gas Mergers

Regulators have extended the approval process for at least five oil and gas mergers and acquisitions in the last three months, as President Joe Biden's administration scrutinizes deals in a bid to tackle soaring energy prices.

Exxon Board Debates Dropping Several Major Oil and Gas Projects

The board members expressed concerns about some projects, including a $30 billion LNG development in Mozambique and another multibillion-dollar gas project in Vietnam, the WSJ report said.

Enterprise’s Baymark Ethylene Pipeline Mechanically Complete, Being Commissioned

The pipeline, which is intended to extend Enterprise’s ethylene pipeline and logistics system further into south Texas, starts in the Bayport area of southeast Harris County and extends about 90 miles to Markham, Texas.

Icahn Launches Offer for Southwest Gas Shares, Seeks to Replace Board

Icahn's move comes days after the company adopted a shareholder rights plan to thwart a push by the investor to abandon Southwest Gas' potential $2 billion deal to buy Questar Pipelines.

Navigator Approved to Develop, Construct Heartland Greenway Pipeline System in Midwest

Navigator CO2 Ventures announced that because of commitments received during its binding open season, it has obtained the necessary board approvals to proceed with its proposed carbon capture pipeline system.

Finalists Announced for the 2021 WPC Excellence Awards

At the World Petroleum Congress, the World Petroleum Council recognizes some of the most outstanding projects and innovations in the oil and gas sector. More than 130 nominated projects were reviewed by the independent judging panel in this cycle’s awards nominations.

Berkshire Hathaway Maryland Cove Point LNG Export Plant Exits Outage

During the three weeks that Cove Point was shut, the amount of pipeline gas flowing to U.S. export plants fell to around 10.1 bcfd from about 10.5 bcfd during the prior 30 days.

Energy Crunch Stokes Inflation, Economic Recovery Concerns

Authorities from Beijing to Delhi scrambled to fill a yawning power supply gap on Tuesday, triggering global stock and bond market wobbles on worries that rising energy costs will stoke inflation.

United Energy Buys 140-Mile Oklahoma Natural Gas Pipeline

United Energy announced it signed a purchase agreement for a 140-mile natural gas pipeline in Wagoner County, Oklahoma, formerly owned by Red Fork Energy.

Saudi Aramco Taps Banks for $12-14 Billion Gas Pipeline Loan

Saudi Aramco has asked banks to arrange a loan expected to be in the $12 billion-$14 billion range that it plans to offer to buyers of its gas pipeline network, sources said, as the oil giant advances plans to raise funds from asset sales.

Associations in the News October 2021

George Hamilton has joined the National Utility Contractors Association to lead its membership and chapter development programs. Hamilton previously led the membership department for the International Association of Business Communicators and served as marketing and membership manager at CFRE Intern..

Companies in the News October 2021

Kinder Morgan closed on its $310 million acquisition of Kinetrex Energy, which includes two small-scale, domestic LNG production and fueling facilities, a 50% interest in a landfill-based renewable natural gas (RNG) facility in Indiana and signed commercial agreements for three additional RNG facili..

People in the News October 2021

McAnally ONE Gas Inc. announced Robert S. McAnnally has been named president and CEO and joined the company’s board of directors, succeeding Pierce H. Norton II, who is now president and CEO of ONEOK Inc. McAnnally has been with ONE Gas for six years, initi..

What's New October 2021

Vermeer   Vermeer upgraded its truck-mounted vacuum excavator line with the new VXT300 truck vac, which is outfitted with an 8-cubic-yard (6.1-cubic-meter) spoil tank, 6-inch (15.2-cm) dig tube and the ability to carry up to 800 gallons (3,028 L) of water s..

Chief Oil & Gas Explores Sale for More Than $3 Billion

Chief Oil & Gas LLC, the Appalachian exploration and production company founded and controlled by Texas wildcatter Trevor Rees-Jones, is exploring a sale that could value it at more than $3 billion.

Isolation Enables Operator to Replace, Pressure Test Pipeline

T.D. Williamson completed its first SmartPlug isolation in offshore Nigeria, working for a major operator through its local partner, Strides Energy & Maritime.

Plains All American, Oryx Midstream Form Permian Basin Joint Venture

Plains Oryx Permian Basin (the joint venture) includes all of Oryx's Permian assets and, except for Plains' long-haul pipeline systems and certain intra-basin terminal assets, the majority of Plains' assets within the Permian Basin.

Dominion to Sell Questar Pipeline to Southwest Gas in Near $2 Billion Deal

Dominion Energy said on Tuesday it has agreed to sell Questar Pipeline to Southwest Gas Holdings Inc. in a deal valued at $1.975 billion.

Stonepeak to Buy Teekay LNG in $6.2 Billion Deal to Tap Surging Gas Demand

Stonepeak is offering $17 per unit, which represents a premium of 8.3% to the closing price of Teekay LNG's common units on Oct. 1. Excluding Teekay's debt, the deal is for $1.5 billion, and the companies expect to close the deal by the end of 2021.

Sentinel Midstream, ExxonMobil Form Enercoast Midstream to Serve Houston Energy Market

Sentinel Midstream Texas announced the formation of a joint venture with ExxonMobil Pipeline Company that owns crude oil pipelines and related transportation infrastructure in the Houston area.

Former PetroChina Executive Under Probe for Suspected Graft

Ling Xiao, who resigned last month from his position as a vice president of PetroChina, had been a PetroChina veteran long responsible for company's natural gas pipeline and marketing business.

SoCalGas Testing Hydrogen Blending in Infrastructure and Appliances in Closed Loop System

Technicians are measuring the performance of common household appliances like stoves, wall heaters and forced-air furnaces when they are fueled with a blend of hydrogen and natural gas.

Bolivia’s YPFB Transporte to Boost Gas Pipelines Capacity

YPFB Transporte S.A.’s objectives for 2021 are to increase natural gas production and meet the growing demands of the domestic market, such as respecting the contracts with Brazil and Argentina.

Baker Hughes and Primus Line Collaborate to Rehabilitate and Repurpose Existing Pipelines

Baker Hughes signed a memorandum of understanding with Primus Line to collaborate on non-metallic pipe applications to rehabilitate and repurpose existing pressure pipelines.

Tallgrass to Track, Measure Emissions on U.S. Interstate NatGas Pipeline

Tallgrass Energy Partners will begin monitoring emissions, including methane and other greenhouse gases, on its Rockies Express Pipeline, making it the first U.S. company to do so an interstate natural gas pipeline.

Trapil Adapting French Pipeline for Low-Carbon Fuel Transport

Trapil, a French refined product pipeline transport company, is strengthening its commitment to the energy transition by adapting one of its pipelines to facilitate transport of low-carbon liquid fuels such as bioethanol.

Vitol CEO Sees Global Gas Market Set for Reasonably Bullish 5-Year Outlook

Global gas prices are at "extreme levels" due to low inventories and strong demand in Europe and China, and the market is set for a reasonably bullish five-year outlook, said Russell Hardy, CEO of Vitol.

Sources Say U.S. Gas Producer Gulfport Energy Explores Sale

Gulfport is currently seeking to renegotiate two contracts with pipeline companies. Scrapping them could help it save money.

Tennessee Gas Pipeline, Southwestern Energy Announce Methane Emission Reduction Plan

Tennessee Gas Pipeline, a subsidiary of Kinder Morgan, and Southwestern Energy announced the initiation of a responsibly sourced natural gas strategic agreement, which should further reduce methane emissions across the natural gas value chain.

ROSEN to Study Hydrogen Pipeline Transportation with Expanded Material Testing Capabilities

ROSEN Group is expanding its existing material testing capabilities and dedicating a separate section to the topic of hydrogen to help ensure the hydrogen economy will have the safe and efficient infrastructure it will need to function.