Business News

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.

Pipeline & Gas Journal Accepting Nominations for Inaugural P&GJ Awards

Pipeline & Gas Journal is accepting nominations for its inaugural Pipeline & Gas Journal Awards, which will honor the midstream energy segment’s leading innovations and outstanding personal contributions to the industry.

Oman State Energy Firm OQ May Sell Drilling Business

Oman state energy company OQ is considering selling its drilling unit Abraj Energy Services, sources said, as the Gulf nation seeks to shore up its finances that have been hit by the coronavirus pandemic and last year's oil price plunge.

Shell Opens 10 MW German Hydrogen Electrolyzer to Boost Green Fuel Output

Royal Dutch Shell launched Europe's biggest hydrogen electrolysis plant at the Wesseling site of its Rheinland refinery after two years of construction, as it expands further into alternative energies.

Energy Trader Mercuria Posts Record Profit for Volatile 2020

Mercuria Energy Group had a boom year in 2020, buoyed by the extreme volatility seen in oil markets caused by the COVID-19 pandemic, as well as very strong returns across its portfolio, particularly gas and power.

Shell Plans to Exit California Joint Venture with Exxon Mobil

Royal Dutch Shell Plc plans to leave Aera, its California-based oil and gas-producing joint venture with Exxon Mobil Corp, four people familiar with the talks told Reuters.

Tellurian Signs Long-Term Lease with the Port of Lake Charles

Tellurian Inc. announced its wholly owned subsidiary, Driftwood LNG, has exercised its long-term lease option with the Lake Charles Harbor and Terminal District on the 477-acre site in Sulphur, Louisiana.

Enbridge Raises Funds from Sustainability Bonds in Climate-Goal Push

Enbridge Inc said it has closed its inaugural sustainability-linked bond, the first company in the midstream sector to raise sustainable bonds in North America, as it moves a step closer to its environmental goals.

Saudi Aramco Seeks Financing Advisor for Gas Pipeline Deal

Saudi Aramco has invited banks to pitch for an advisory role to help finance the sale of a significant minority stake in its gas pipelines, the oil giant's second major midstream deal after a $12.4 billion deal for oil pipelines, three sources said.

S.Africa, Mozambique State Energy Firms to Increase Shareholding in Gas Pipeline

State-owned energy companies from South Africa and Mozambique have exercised their rights to buy the 30% stake in the ROMPCO natural gas pipeline that Sasol is selling.

Southwest Gas Begins RNG Projects to Provide Clean Energy to Customers

Southwest Gas is actively working with RNG developers to interconnect various RNG projects across company service areas with Southwest Gas' facilities. There are four projects in Arizona and one in California that are approved and will take RNG to market shortly.

Saudi Aramco Extends $10 Billion Loan on Improved Terms, Sources Say

Aramco has borrowed tens of billions of dollars in the past few years to keep up with Saudi Arabia's financing needs in an era of lower oil prices, in addition to a public sale of a minority stake in the company and the recent leasing of some of its pipeline assets for $12.4 billion.

Gazprom’s Amur Gas Processing Plant Nearing Completion

Gazprom’s Amur Gas Processing Plant project is more than 75% complete following its commissioning ceremony for the first production train earlier this month.

Magellan, Enterprise Working with Intercontinental Exchange for Houston Crude Oil Futures Contract

Magellan Midstream Partners, Enterprise Products Partners and Intercontinental Exchange announced the establishment of a new futures contract for the physical delivery of crude oil in the Houston area.

Sypris Wins Awards from Two High-Pressure Energy Projects

Sypris Technologies, a subsidiary of Sypris Solutions, recently received orders for specialty high-pressure closures for use in two large projects, the Golden Pass LNG Export project and the Cherry Point Refinery Renewable Diesel Optimization project.

Brookfield Includes All-Cash Option in Inter Pipeline Offer

Brookfield's revision comes as the investment firm tries to beat a rival bid from Pembina Pipeline Corp, which has been recommended by Inter's board.

Pony Express Pipeline Announces Open Season for Transportation

Tallgrass Pony Express Pipeline announced a binding open season soliciting shipper commitments for crude oil transportation utilizing expansion capacity from Pony Express’ Guernsey origin to Sterling, Colo.

EagleClaw Midstream Targeting Net Zero GHG Emissions by 2050

EagleClaw Midstream announced it has issued its first Environmental, Social and Governance report and identified bold steps in its plan to achieve net zero greenhouse gas emissions by 2050.

Key Win for Enbridge Oil Pipeline as Minnesota Court Affirms Regulator Approval

The Minnesota Court of Appeals on Monday affirmed a state regulator's decision that there is sufficient need for Enbridge Inc to replace its Line 3 pipeline, handing the Canadian company a crucial victory in its lengthy battle with environmental opponents.

Empire Midstream Acquires Offshore Gulf of Mexico Pipeline

Empire Midstream announced that its affiliate Empire Auger 12 has acquired the Auger 12” pipeline from Pecten Midstream, a subsidiary of Shell Midstream Partners.

Shell Weighs Blockbuster Sale of Texas Shale Assets

Royal Dutch Shell is reviewing its holdings in the largest U.S. oil field for a potential sale, people familiar with the matter told Reuters, marking a key moment in its shift away from fossil fuels as it faces growing pressure to slash carbon emissions.