Business News

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.

Pipeline Operator Enbridge Posts Drop in Quarterly Profit

Enbridge Inc. said its quarterly profit fell sequentially, as the Canadian pipeline operator transported lower volumes of fuel on its Mainline system.

Riding the Oil Price Rebound: Gulf States to Accelerate Asset Sales

Saudi Aramco and other Gulf oil producers are following in the footsteps of Abu Dhabi with plans to raise tens of billions of dollars through sales of stakes in energy assets, capitalizing on a rebound in crude prices to attract foreign investors.

HollyFrontier, Pipeline Unit to Buy Sinclair Oil in $2.6 Billion Deal

HollyFrontier Corp and its pipeline partner will buy almost all of Sinclair Oil's assets in two deals totaling around $2.6 billion, the companies said, adding new refining, pipeline and storage assets to their portfolio.

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.