Business News
Energy Transfer to Acquire Enable Midstream for $7 billion
Dallas-based Energy Transfer and Oklahoma City’s Enable Midstream Partners are merging after agreeing that Energy Transfer will acquire Enable for an all-equity $7.2 billion deal.
CorEnergy Acquires Crimson’s California Pipeline Assets
CorEnergy Infrastructure Trust announced the acquisition of Crimson Midstream Holdings, a California Public Utilities Commission regulated crude oil pipeline owner and operator, for consideration valued at approximately $350 million.
Saudi Aramco Prepares $10 billion Financing for Pipeline Business Buyers
Saudi Aramco is preparing a financing package of up to $10 billion that it could offer to buyers of its pipeline business unit, three sources said, as the oil giant seeks to extract value from its assets in an era of lower oil prices.
Associations in the News
Associations TPA Shay Bluntzer, executive director of Public Affairs for NuStar Energy, has been elected chairman of the Texas Pipeline Association (TPA). In his role at NuStar, one of the largest U.S. independent liquids terminal and pipeline operators, Bluntzer has helped build the company’s..
Companies in the News
Companies The ROSEN Group announced that it has joined the European Clean Hydrogen Alliance, which was launched by the European Commission last July as part of the EU strategies for energy system integration and hydrogen. In a statement, ROSEN said, “As a company committed to helping operators o..
People in the News
People Poirier François Poirier was named president and CEO of TC Energy Corporation, succeeding Russ Girling, who retired. Poirier joined the company in 2014 as president, Energy East Pipeline, and most recently served as chief operating officer and presi..
Chevron Offers to Buy Out Noble Midstream
Now Noble Midstream's largest customer, Chevron said taking full ownership of the assets will help it streamline their governance and is in line with the producer's long-term interests.
CONSOLIDATION: Mergers and Acquisitions Embrace Oil Patch
Uncertainty begets caution, which can lead to indecision. In the oil patch this eventually can lead to mergers and acquisitions (M&A) or Chapter 11 bankruptcy filings.
Enterprise Products Misses Profit Estimates as Costs Surge
The COVID-19 pandemic has crushed global fuel demand and ended a boom in U.S. shale production, forcing pipeline companies that run oil from fields to refineries and export terminals to slash fees to ensure customers keep using their networks.
Germany’s Siemens Gutting Natural Gas Jobs Through 2025
Siemens Energy is cutting about 7,800 natural gas jobs until 2025, the company announced as part of its cost-saving initiatives.
Canada’s Pipetel Merges with Intero Integrity Services
Intero Integrity Services, backed by First Reserve, announced announce the completion of a merger with Pipetel Technologies, an innovative service provider to the gas utility industry specializing in robotic inline inspection of challenging pipelines.
EQT and Project Canary Launch Responsibly Sourced Natural Gas Pilot Project
EQT Corporation announced its commitment to a pilot project to demonstrate the production of responsibly sourced natural gas (RSG) for use in domestic and international energy markets.
NextEra Energy Posts Loss on $1.2 billion Mountain Valley Pipeline Charge
Mountain Valley pipeline, which stretches from West Virginia to Virginia, is one of the several oil and gas pipelines delayed in recent years by regulatory and legal fights.
INGAA Board Elects DTE Midstream Exec Chairman
The board of directors of the Interstate Natural Gas Association of America (INGAA) elected David Slater to serve as chairman of the organization for a one-year term.
DTE Midstream Aims for Net Zero Carbon Emissions by 2050
DTE Midstream announced its goal to achieve net zero greenhouse gas emissions by 2050 with 30% of this carbon emissions reduction in the next decade.
Solar Plant to Directly Power Major Pipeline Compression Station
Sustainable infrastructure company Merit SI has completed development and construction of the first solar power plant in the U.S. designed to directly help power an interstate natural gas pipeline compressor station.
Bankruptcies, Restructurings, Mergers Likely to Continue in 2021
The confluence of 2020's events led to a series of bankruptcies and restructurings under the weight of heavy debt loads while operating in one of the worst industry downturns in history.
Continued Midstream Infrastructure Development Expected After Market Rebound
The INGAA Foundation released its report North American Midstream Infrastructure – A Near Term Update Through 2025, which shows the oil and gas markets should rebound and lead to further midstream infrastructure development.
Quest Integrated, Quanta Inline Merge to Form Inspection, Integrity Management Company
The combined company will operate under the brand "Qi2 Elements" and forms the foundation for developing a new technology-driven industry leader in providing storage tank and pipeline inspection and integrity management services.
Chesapeake Energy Emerging from Bankruptcy Worth $5.13 Billion
Chesapeake will emerge from bankruptcy with about $3 billion in new financing, a $7 billion reduction in debt, and $1.7 billion cut from gas processing and pipeline costs.
PE launches Transition Economist and Hydrogen Economist services
The PE Media Network, publisher of Petroleum Economist, the leading global information service for the full hydrocarbon value chain, is bringing the same analytical depth and rigorous editorial standards to two rapidly-evolving sectors, the energy transition and the emerging hydrogen economy.
Apache Corp Creating New Holding Company
Apache Corp plans to create a holding company structure, which typically allows a firm to lower its tax bill, protect patents and diversify its unit's businesses efficiently.
Phillips 66 Budget Down 43% From 2020’s Forecast
Phillips 66 said its 2021 budget includes capital expenditures of $776 million on the refining segment and $610 million on midstream as the energy industry struggles to recover from the blow of the COVID-19 pandemic.
Despite a Late Surge, Oil Ends 2020 Down 20%
Brent and U.S. crude benchmarks have more than doubled from April's nadir as producers cut output to match weaker demand. News of coronavirus vaccine distributions also bolstered prices in the fourth quarter, helping futures recover to the highest in about 10 months.
Energy Sector Could Get Reprieve from ‘Golden Cross’ Chart Signal
Energy could see its fortunes improve in the new year after its price action surfaced a technical buy signal on the charts on Wednesday. The bullish development in S&P 500 energy sector is called a “golden cross,” which is conventionally defined by technical analysts as the 50-day moving price average rising above the 200-day moving average.
Enterprise, Navigator Begin Service on Ship Channel Ethylene Tank
Enterprise Products Partners and Navigator Holdings began service has begun on a 30,000-ton refrigerated ethylene storage tank at the ethylene export terminal, which is owned 50/50 by affiliates of the two companies.
Oil Settles Up, Marking 7th Straight Weekly Gain
Oil settled up at a nine-month high on Friday, rounding out seven straight weeks of gains as investors focused on vaccine rollouts and a decline in the U.S. dollar.
Hilcorp Unit Completes BP Alaska Acquisition
Privately held Hilcorp Energy's unit completed a $5.6 billion acquisition of BP's business in Alaska, taking over the region the British oil major had operated in for 60 years.
Court Approves Williams' Deal with Bankrupt Chesapeake
A bankruptcy court has approved Williams' agreement to take ownership of some Chesapeake Energy assets in exchange for accepting lower gas gathering fees.
Oil Prices Hit 9-Month High after Inventory Draw
il climbed to a nine-month high on Thursday after government data showed a fall in U.S. crude stockpiles last week, while progress towards a U.S. fiscal stimulus deal and strong Asian demand also buoyed prices.
- 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
- Greenpeace Ordered to Pay $667 Million to Energy Transfer Over Dakota Access Pipeline Protests
- Boardwalk’s Texas Gas Launches Open Season for 2 Bcf/d Marcellus-to-Louisiana Pipeline Expansion
- New Alternatives for Noise Reduction in Gas Pipelines
- Construction Begins on Ghana's $12 Billion Petroleum Hub, But Not Without Doubts
- Missouri Loses Control Over 1.5 Million-Mile Gas Pipeline Network as Feds Step In
- Gazprom’s Grandeur Fades as Europe Moves Away from Russian Gas
- Greenpeace Ordered to Pay $667 Million to Energy Transfer Over Dakota Access Pipeline Protests
