Business News

U.S. Oil & Gas Rig Count Falls for First Week in Eight -Baker Hughes

U.S. energy firms cut the number of oil and natural gas rigs operating for the first time in eight weeks amid an industry stampede to reward investors with share buybacks instead of boosting production.

Pipeline Operator Enbridge Beats Profit Estimates as Oil Volumes Rebound

Canadian pipeline operator Enbridge Inc reported second-quarter profit which beat expectations on Friday, as oil volumes transported on its Mainline system rose from a year ago due to a rebound in fuel demand.

TC Energy to Switch to Green Power to Run N. American Energy Pipelines

Canadian pipeline operator TC Energy Corp could spend billions of dollars on its plans to lower emissions by switching to renewable energy to run its huge network of U.S. and Canadian oil and gas pipelines.

Enterprise Products Oil Pipeline Volume Rises on Demand Recovery

Enterprise Products Partners said on Wednesday volume across its crude oil pipelines rose 5% in the second quarter on the back of a recovery in demand as the global economy continues to reopen following COVID-19 lockdowns.

Gazprom to Pay 349 million Euros in Advance to Use Bulgarian Pipeline

Russia's state gas company Gazprom has agreed to pay 349 million euros ($412 million) in advance for capacity on the Bulgarian extension of the TurkStream gas pipeline, Bulgarian state network operator Bulgartransgaz said.

Enagas First-Half Net Profit Falls on Lower Fees in Spain

Spanish gas grid operator Enagas said its first-half net profit fell 9.8% to 213 million euros ($251.28 million) after a change of regulations in 2020 forced it to charge lower fees in Spain.

Inter Pipeline Walks Away from Pembina Deal in Favor of Brookfield Bid

Canadian pipeline operator Inter Pipeline on Monday decided against recommending a C$8.5 billion ($6.77 billion) deal with rival Pembina Pipeline Corp to shareholders and instead chose to pursue a higher bid from Brookfield Infrastructure Partners.

Kinder Morgan Trims Annual Earnings Outlook on Lower Volumes

Kinder Morgan cut its 2021 profit forecast just three months after the U.S. pipeline operator had raised its estimates following a surge in demand for natural gas during the February winter storm.

People in the News July 2021

  Glaeser Scott Glaeser has joined Burns & McDonnell, where he will start up and lead a pipeline integrity practice within the Transmission & Distribution (T&D) Group. Over a career spanning nearly 35 years, Glaeser has served in a number of officer roles ..

What's New July 2021

Vermeer   Vermeer expanded its horizontal directional drilling (HDD) fluid management equipment line with the new R600T reclaimer. The new 600-gallons/minute (2,271-liters/minute) mud recycling system can pair with maxi rigs pumping between 300 and 600 gal..

Companies Merge Technologies to Enhance Pipeline Integrity

Pipetel Technologies and Intero Integrity Services merged in January, combining the two inline inspection companies, each with a track record of innovation in the space of unpiggable pipeline inspection.

Pembina Pipeline Reaffirms Existing Transaction to Purchase Inter Pipeline

Pembina Pipeline Corporation confirmed that it does not intend to increase or otherwise change the consideration of 0.50 common shares of Pembina offered under its proposed acquisition of all of the common shares of Inter Pipeline Ltd. pursuant to the arrangement agreement signed by the parties.

Pipeline Operator Kinder Morgan to Buy Kinetrex Energy in Green Energy Push

Pipeline operator Kinder Morgan said it would buy renewable natural gas developer Kinetrex Energy from an affiliate of Parallel49 Equity for $310 million, to expand into green energy amid investor pressure to tackle climate change.

Navigator CO2 Announces Service Provider Additions to Heartland Greenway Pipeline System

Navigator CO2 Ventures announced it has entered into contracts with three industry-leading companies to utilize their respective expertise in advancing the execution of the Heartland Greenway CO2 Pipeline Transportation and Sequestration System.

Brookfield Sweetens Offer for Canada's Inter Pipeline to $6.85 Billion

Brookfield Infrastructure Partners raised its hostile offer for Inter Pipeline Ltd for a second time to about C$8.58 billion ($6.85 billion) as it battles a rival bid from Pembina Pipeline Corp.

Williston Basin Petroleum Conference: Talking to Two Titans in the Oil Patch

In mid-May this year, Harold Hamm found himself back in North Dakota as one of the keynote presenters at the Williston Basin Petroleum Conference, listening to another fellow energy industry billionaire Kelcy Warren, CEO of the sizable interstate pipeline operator, Dallas-based Energy Transfer Partners LP.

Midcoast Energy Starts Commercial Operation of Expanded CJ Express Pipeline

Siemens Energy technology will help increase the CJ Express pipeline’s transmission capacity from the East Texas supply areas to Gulf Coast demand centers to approximately 1 billion cubic feet per day.

Republic of Panama, Energy Transfer Studying Potential Trans-Panama Gateway Pipeline

The Republic of Panama and Dallas-based Energy Transfer LP announced that the parties have signed a Memorandum of Understanding (MOU) to study the feasibility of joint participation in a proposed Trans-Panama Gateway Pipeline project.

Ecopetrol Reports Recovery of Operations After Stabilization in Colombia

Ecopetrol reported the recovery of its operations in the upstream, midstream, downstream and sales and marketing segments in Colombia, in connection with the adverse impacts the company had observed because of restrictions on mobility.

Petrobras' Albacora Seen Drawing At Least Three Buyers

Petrobras' Albacora oilfields in Brazil are likely to attract at least three buyers despite a roughly one-month delay to let interested parties finalize their bids, four sources with knowledge of the matter told Reuters.

Saudi Aramco Drops Morgan Stanley on Gas Pipelines Deal

Saudi Aramco has dropped Morgan Stanley as an adviser for the sale of its gas pipelines and picked JPMorgan and Goldman Sachs for the role, three sources familiar with matter said.

Merkel Reassures Ukraine on Gas Transit Before Talks with Biden

Ukraine can be confident that Germany and the European Union will guarantee its status as a transit country for Russian gas even after the Nord Stream 2 pipeline has opened, German Chancellor Angela Merkel said on Monday.

Tellurian Terminates Total Agreement on Louisiana Driftwood LNG Plant

U.S. LNG developer Tellurian Inc said on Monday it terminated a stock purchase agreement with a unit of French energy major TotalEnergies SE related to Tellurian's proposed Driftwood LNG export plant in Louisiana.

Company Exploring Options for Potential Gas Pipeline in Virginia

Chickahominy Pipeline LLC sent letters to residents throughout five counties in Virginia seeking permission to access their property to determine the feasibility of building a 24-inch gas pipeline.

Dominion Energy, Berkshire to Terminate Questar Pipelines Deal

Dominion Energy abandoned the sale of a natural gas pipeline to a unit of Warren Buffett's Berkshire Hathaway because of uncertainty over whether antitrust regulators would approve it, the companies said on Monday.

China's CNOOC Dives into Uncharted Deep Waters in Bold Gas Pivot

When the first gas from CNOOC Ltd's new ultra-deep field in the South China Sea started flowing in late June to the world's largest customized floating platform 1,500 meters above the sea bed, it marked a key phase in China's gas drive.

Malaysia's Petronas Agrees 10-year LNG Supply Deal with CNOOC Valued at $7 Billion

Malaysia's state oil firm Petronas has signed a 10-year LNG supply agreement with a subsidiary of China's offshore oil and gas major CNOOC Ltd valued at about $7 billion, the firm said on Wednesday.

Oasis Midstream Announces Johnson's Corner Gathering Pipeline System Open Season

Oasis Midstream Partners today announced that Bighorn Devco LLC is commencing a binding open season for the Johnson's Corner Gathering System Project, a crude oil gathering pipeline system to be constructed in McKenzie County, North Dakota.

Williams Announces Upstream Operator and Joint Venture in the Wamsutter Field

NGL volumes from each of the legacy upstream assets will be combined and dedicated to Williams, adding transportation volumes on Overland Pass Pipeline and Bluestem, and increasing downstream fractionation volumes at attractive rates.

Inter Pipeline Files Joint Information Circular in Support of Combination with Pembina

Inter Pipeline Ltd. has filed a joint information circular and related materials for its virtual-only 2021 annual and special meeting of shareholders to be held on July 29 in connection with the proposed strategic combination with Pembina Pipeline Corporation.