Business News
Aramco Oil Pipelines Investors to Sell At Least $4 Billion in Bonds in Q4
A consortium led by EIG Global Energy Partners that took a stake in Saudi Aramco's oil pipelines is preparing to issue at least $4 billion in the fourth quarter to refinance a loan that largely funded the $12.4 billion deal, two sources said.
Enbridge Bolsters U.S. Gulf Coast Export Capacity with $3 Billion Moda Midstream Buy
Enbridge Inc. said on Tuesday it was buying logistics company Moda Midstream Operating LLC for $3 billion in cash, gaining access to an export terminal in Texas that loaded more than a quarter of all U.S. Gulf Coast crude exports last year.
Colonial Pipeline Restarts as Ida Damage Assessments Face Hurdles
Colonial Pipeline restarted on Tuesday while other efforts to assess damages to energy infrastructure were slowed by widespread flooding from Hurricane Ida and power outages.
Ida's Fury Hits U.S. Oil Production, Gasoline Supplies
U.S. Gulf Coast energy companies began damage reviews at offshore production facilities and started evaluating onshore power losses after Hurricane Ida caused devastation in Louisiana and rampaged through offshore oil and gas fields.
Brazil's Logum Makes 1st Ethanol Export to U.S. Using Pipeline to Port
The firm said the transport of the ethanol by pipelines, beyond the smaller cost and economies of scale, prevented the use of more than 700 trucks, estimating the operation avoided 2,000 tons of carbon emissions.
ConocoPhillips-Backed Solaris Readies IPO with Sustainability Pitch
ConocoPhillips-backed Solaris Midstream Holdings LLC, the water pipeline company serving the U.S. oil and gas fracking industry, is preparing for an initial public offering (IPO) that it hopes will attract sustainability-focused investors.
WhiteWater Announces Acquisition of Sendero’s Gateway Pipeline
WhiteWater announced the acquisition of Sendero’s Gateway Pipeline. The 24-inch Gateway Pipeline is connected to WhiteWater’s Agua Blanca natural gas pipeline system.
Trophy Pipeline Announces Open Season for Texas Expansion Project
Trophy Pipeline announced it intends to conduct an Open Season for its Texas Expansion project. Trophy proposes to construct an approximately 3-mile-long pipeline from a new origin in Winkler County, Texas, to its existing FERC-regulated, crude oil pipeline in Lea County, New Mexico.
Permian Update: America’s Oilfield Builds Back from Another Bust
Three quarters of the way through what was to be a post-pandemic year, the midstream sector of America’s biggest oilfield is slugging its way back from the bottom again.
EIG Global Energy Partners Submits Offer for Petrobras Pipelines in Brazil
U.S. private equity firm EIG Global Energy Partners submitted a binding offer worth several hundred million dollars on Monday for Petrobras' TBG and TSB natural gas pipelines in Brazil, a source said.
Papua New Guinea Resumes Talks with Exxon on Gas Field Agreement
The Papua New Guinea government and U.S. oil major Exxon Mobil Corp plan to resume talks on the P'nyang natural gas project, nearly two years after their negotiations halted.
Centurion Pipeline Releases First Environmental Sustainability Report
Centurion Pipeline announced the release of its inaugural sustainability report, which outlines the company’s focus on environmental, social and governance initiatives.
USD Partners Increase Connectivity at Stroud Terminal at the Cushing Hub
The expansion is being pursued by an affiliate of US Development Group and when completed will add a pipeline connection to a second 300,000-barrel storage tank at the Cushing, Oklahoma, crude oil hub.
U.S. Oil Refiner Citgo Petroleum Posts First Profit in Seven Quarters
Citgo Petroleum reported a slim, second-quarter profit, its first in seven quarters, as higher fuel exports helped offset weak margins and the impact of a fuel pipeline shutdown.
U.S. Gulf of Mexico Oil Producers Consolidation Accelerates
Oil and gas producers in U.S. Gulf of Mexico have consolidated at a faster rate during the pandemic, new government data shows, as crashing prices squeezed out smaller drillers who had been seen as the industry's future.
Saudi Aramco Aims to Raise At Least $17 billion From Gas Pipelines
Saudi Aramco is looking to raise at least $17 billion from the sale of a significant minority stake in its gas pipelines, higher than the $12.4 billion raised from its oil pipeline deal, sources familiar with the matter said.
Companies in the News August 2021
Peak Utility Services Group, a provider of integrated infrastructure services to the natural gas, electric and telecommunication industries, has acquired Superior Pipeline Services (SPS), a natural gas utility services contractor. Denver-based Peak provides maintenance, repair, upgrade and insta..
People in the News August 2021
CorEnergy Executives Recognized for Industry Leadership CorEnergy Infrastructure Trust, which owns and operates or leases natural gas transmission and distribution lines and crude oil gathering, storage and transmission pipelines and associated rights-of-way, announced that two of its executives ..
What's New August 2021
T.D. Williamson T.D. Williamson enhanced its Multiple Dataset (MDS) gouge vs. metal loss (GvML) classifier, resulting in the industry’s first published performance specification for gouge identification and depth sizing within a dent. MDS offers com..
New York's Pension Fund to Review Oil Holdings, Axes More Coal Investments
Major investors have re-evaluated holdings in fossil fuel producers and prodded energy executives to reduce emissions. After completing its shale review, the New York fund plans to turn next to oil and gas pipeline and processing investments.
EIA Reports: US Oil Imports from OPEC Down; Canada Imports Remain High
Voluntary OPEC production cuts have been contributing to reduced U.S. crude oil imports from OPEC so far in 2021. Comparatively stable U.S. crude oil imports from Canada, however, have been mostly the result of longer-term trends.
Chesapeake Focusing on U.S. Shale Gas with $615 million Vine Energy Buy
Chesapeake Energy Corp agreed to buy Louisiana natural gas rival Vine Energy Inc. for $615 million, betting on the Haynesville shale field's proximity to the U.S. Gulf Coast export hub.
RWE CEO: Don't Expect Renewable Megadeals in Next Few Years
RWE, Europe's third-largest renewables player, does not expect large deals in the sector in the next few years, its chief executive told journalists after presenting first-half results.
Gazprom Cancels Aug Condensate Exports After Urengoy Fire, Sources Say
Russia's Gazprom has cancelled gas condensate exports this month less than a week after a fire at its processing plant in Urengoy curbed gas exports via the Yamal-Europe pipeline.
Inpex to Delay Investment Decision on Indonesia's Abadi LNG Project
Japanese energy company Inpex Corp expects its final investment decision on the Abadi LNG project to be delayed because COVID-19 has disrupted survey work and adjustments may be needed due to climate change.
BP Pipelines Offers to Acquire BP Midstream Partners
The board of directors of the general partner of BPMP received a non-binding offer from BP Pipelines to acquire all of the outstanding common units of BPMP held by the public in exchange.
Inter Pipeline’s Heartland Petrochemical Complex Nearing Completion
The Heartland Petrochemical Complex is in its final stages of completion in Strathcona County, Alberta, Inter Pipeline announced.
Making Digital Transformation a Reality
Unlocking the value of process data through digital transformation not only offers oil and gas operators huge benefits, but it is also an essential step for businesses to remain efficient and competitive in the future.
Pioneer Natural Resources Warns of Tepid Shale Growth in Coming Years
Pioneer Natural Resources Co.'s top executive said that U.S. shale growth was "not going to grow that much" in the coming years, as oil and gas companies continue to focus on capital discipline and shareholder returns.
Plains All American Boosts Earnings Outlook as Fuel Demand Recovers
Plains All American Pipeline LP raised its forecast for 2021 adjusted core income, as the oil and gas sector benefits from easing travel curbs and a recovering economy firing up fuel demand.
- Keystone Oil Pipeline Resumes Operations After Temporary Shutdown
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
- Freeport LNG Plant Runs Near Zero Consumption for Fifth Day
- Enbridge to Invest $500 Million in Pipeline Assets, Including Expansion of 850-Mile Gray Oak Pipeline
- Williams Delays Louisiana Pipeline Project Amid Dispute with Competitor Energy Transfer
- Evacuation Technologies to Reduce Methane Releases During Pigging
- Editor’s Notebook: Nord Stream’s $20 Billion Question
- Enbridge Receives Approval to Begin Service on Louisiana Venice Gas Pipeline Project
- Russian LNG Unfazed By U.S. Sanctions
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
