Business News
Aramco Agrees to $12.4 billion Deal to Sell Stake in Pipelines
Saudi oil producer Aramco has agreed a $12.4 billion deal to sell a 49% stake in its pipelines to a consortium led by U.S.-based EIG Global Energy Partners.
VVC Exploration Expanding Helium Portfolio, Acquires Gas Property in Kansas
The Monarch Lease is a 1,720-acre property in the Byerly Field in Greely County, Kansas. It includes six formerly producing gas wells connected to the Tumbleweed Midstream pipeline.
What's New April 2021
Updates from Sensirion, Ralston, Cortec, Weldcote, AIO and BPS are included in this month's What's New.
Archaea Energy, Aria Energy Combine to Form RNG Development, Advancement Company
The business combination with Archaea and Aria, one of the largest companies in the North American landfill gas (LFG) sector, will create a significant U.S. RNG platform.
Canadian Pipeline Companies See Natgas Opportunities in Shift to Green Energy
Natural gas and liquids will continue to play a prominent role in the energy economy for decades to come, one executive said, even as a transition to cleaner energy evolves.
Brookfield, BlackRock No Longer in Race For $10 billion Aramco Pipeline Stake
U.S. asset manager BlackRock and Canada's Brookfield Asset Management Inc are no longer in the race to buy a stake in Saudi oil giant Aramco's pipeline business, two sources familiar with the deal said.
Phillips 66 Warns U.S. Winter Storm Pushing First-quarter Loss Past Forecast
U.S. refiner Phillips 66 on Monday predicted that its first-quarter loss would be larger than expected, citing the severe winter cold snap that battered its U.S. Gulf Coast petrochemical operations.
Exxon Sues Energy Transfer Over Charges From Pipeline Dispute
Exxon Mobil Corp’s XTO Energy shale unit filed a breach of contract lawsuit against Energy Transfer LP over disputed payments for the Dakota Access Pipeline, according to a Texas state court filing.
Canada’s Inter Pipeline Gets $325 million Grant for Petrochemical Plant
Canada's Inter Pipeline Ltd, which is fighting a hostile takeover bid by Brookfield Infrastructure Partners, will receive a C$408 million ($325.15 million) grant from the Alberta government in support of its Heartland Petrochemical Complex.
Midcoast Energy Completes CJ Express Pipeline Expansion
Texas-based Midcoast Energy completed its CJ Express pipeline expansion project, and it is now in service, the subsidiary announced.
Pony Express Pipeline Announces Open Season for Transportation
Tallgrass Pony Express Pipeline, a subsidiary of Tallgrass Energy, announced a binding open season soliciting shipper commitments for crude oil transportation.
Industry Group Says Biden’s Infrastructure Plan Misses Opportunity for Pipelines
U.S. President Joe Biden plans to pay for his $2 trillion infrastructure plan with higher corporate taxes, which is facing criticism from Republicans and industry support groups including the American Petroleum Institute who say it will kill jobs.
Russia's Transneft Posts 26% Fall in 2020 Net Profit
Russian oil pipeline monopoly Transneft's net profit fell by 26% last year to 133.2 billion roubles ($1.8 billion) as lower volumes of oil were transported amid global production cuts and the COVID-19 pandemic.
Annova Cancels Texas LNG Export Facility Project
Annova LNG announced the immediate cancellation of its liquified natural gas (LNG) export facility under development in Brownsville, Texas, due to changes in the global LNG market.
INEOS Energy to Sell Norwegian Oil and Gas Business to PGNiG for $615 million
INEOS Energy has agreed to sell its Norwegian oil and gas business to Poland's PGNiG Upstream Norway AS for $615 million.
Oil Companies Launch On-site Vaccinations as Supplies Rise
U.S. energy companies are organizing employee vaccinations as more COVID-19 doses become available, officials and employees told Reuters, setting up on-site clinics or offering time off to workers to get the shot.
Saudi Aramco Sends Request for Pipeline Deal Financing
Saudi Aramco has sent a request for proposals to banks for financing it wants to offer to investors looking to lease its pipelines, three sources said, a sign the oil giant is progressing with plans to extract value from its assets.
Top U.S. Gas Utility Sets Net Zero Emissions Goal for 2045
Southern California Gas Co, the largest U.S. gas distribution utility, set a target to achieve net zero greenhouse gas emissions by 2045, aligning with the state's target to become carbon-neutral within 25 years.
Lucid Energy Commissions Cryogenic Processing Plant in the Delaware Basin
The Red Hills V plant has the capacity to process 230 million cubic feet of natural gas per day (MMcf/d) and brings the total capacity of Lucid’s natural gas processing franchise in the northern Delaware Basin to 1.2 billion cubic feet per day.
Baker Hughes Flexible Pipe Technology Should Overcome Challenges of Pre-Salt Subsea Developments
Baker Hughes reached a significant technology milestone in pioneering a solution to overcome flexible pipe stress corrosion cracking (SCC) tendencies in high CO2 content fields, such as those found in Brazil’s pre-salt offshore developments.
Friedrich Vorwerk’s Energy Expertise Could Attract Investors
German energy infrastructure company Friedrich Vorwerk is guiding investors to expect its initial public offering (IPO) to price at 45-48 euros ($53.55-$57.12) per share, one of the bookrunners organizing the deal said on Monday.
Peak Utility Services Acquires Superior Pipeline Services
Peak Utility Services Group announced the acquisition of Superior Pipeline Services (SPS), a leading natural gas utility services contractor in Texas.
Ameren Modernizing Natural Gas Pipelines in Illinois
Crews will replace vintage steel transmission pipeline from the 1950s around Belleville with new, 16-inch steel pipeline.
Early Registration Open for 23rd World Petroleum Congress
Early bird registration for the 23rd World Petroleum Congress is now open and available through April 30th.
Thai Energy Firm PTTEP Expanding Midstream Investments
Thai oil and gas giant PTT Exploration and Production Pcl on Tuesday said it plans to expand midstream investments to have new businesses account for 20% of its profits by 2030, with a focus on gas-to-power.
Advanced Data Management Easier with Data Cloud Service
Konica Minolta’s solution to the oil & gas industry is not just limited to the Optical Gas Imaging Camera System GMP01, but it also includes our data cloud service, Inspection Data Manager.
New Generation Optical Gas Imaging Camera System Ensures Safety
Konica Minolta is pleased to introduce the results of a recent collaboration and study conducted mutually with oil & gas operators utilizing our optical gas imaging (OGI) camera system.
KKR Seeks $12 billion for Flagship Infrastructure Fund
Buyout firm KKR & Co Inc is seeking to raise $12 billion for its flagship global fund that will invest in infrastructure assets such as oil and gas pipelines and renewable energy projects.
Kinder Morgan Forms Energy Transition Ventures Group
Pipeline company Kinder Morgan said on Friday it had formed a new Energy Transition Ventures group to focus on low-carbon energy initiatives.
GateHouse Maritime to Monitor Gas Pipeline in the Baltic Sea
Poland’s GAZ-SYSTEMS awarded offshore surveillance, maritime analytics and data company GateHouse Maritime a 5-year contract to monitor a new gas pipeline in the Baltic Sea, the companies announced.
- 1,000-Mile Pipeline Exit Plan by Hope Gas Alarms West Virginia Producers
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Boardwalk’s Texas Gas Launches Open Season for 2 Bcf/d Marcellus-to-Louisiana Pipeline Expansion
- Traverse Pipeline Approved to Move 1.75 Bcf/d of Gas Along 160-Mile South Texas–Katy Route
- New Alternatives for Noise Reduction in Gas Pipelines
- Construction Begins on Ghana's $12 Billion Petroleum Hub, But Not Without Doubts
- DOE Considers Cutting Over $1.2 Billion in Carbon Capture Project Funding
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Newsom Seeks to Aid Struggling Refiners Following Valero’s California Exit
