Business News

Aramco Oil Pipelines Investors Miss Funding Goal With $2.5 Billion Bond Sale

A group of institutional investors that took a stake in Saudi Aramco's oil pipelines network sold $2.5 billion in dual-tranche amortizing bonds, significantly below the amount sought.

Harvest Midstream Signs Agreement to Acquire Arrowhead ST Holdings

Harvest Midstream announced the signing of a purchase and sale agreement to acquire the remaining interest in Arrowhead ST Holdings, LLC from its joint venture partner.

UGI to Acquire Stonehenge Appalachia Midstream Natural Gas Gathering System

UGI Corporation announced that its subsidiary, UGI Energy Services, agreed to acquire Stonehenge Appalachia for approximately $190 million.

Mexico Attorney General Seeks Up to 39 Years Prison for Ex-Pemex Boss

Mexico's attorney general has requested a prison sentence of up to 39 years for the former chief executive of state oil company Petroleos Mexicanos for his role in a corruption scandal.

Enterprise Products to Buy Navitas for $3.3 Billion to Boost Natural Gas Pipeline Network

Pipeline operator Enterprise Products Partners said on Monday it would buy Warburg Pincus-owned Navitas Midstream for $3.25 billion in cash.

Williams Delivers Record Volumes Through Expanded Transco Gas Pipeline System

Williams announced that it recently delivered a record amount of natural gas on its Transco interstate pipeline, due to continued expansions on the pipeline.

Up to $3 Billion Worth of Shell's Nigerian Oil Assets Attract Interest from Local Firms

At least five Nigerian oil and gas companies are preparing to submit bids this month for Royal Dutch Shell's onshore oilfields in a sale that could fetch up to $3 billion.

TC Energy's 590,000-bpd Keystone Pipeline Resumes Operations

TC Energy's 590,000-barrels-per-day Keystone oil pipeline resumed operations after it was shut the previous evening for unplanned maintenance.

Uniper Secures $11 Billion of Credit to Cope with Gas Volatility

German utility Uniper has secured credit facilities worth 10 billion euros from parent Fortum and bank KfW in a move to cope with unprecedented volatility in energy markets.

Nord Stream 2 Go-Ahead Could Come in Mid-2022 - Uniper CEO

The Nord Stream 2 pipeline, which is to transport Russian gas to Germany, could get approved in the middle of the year.

Oil Rises Above $78 on Optimism About 2022 Outlook

Oil gained some support from an outage in Libya. Oil output will be cut by 200,000 barrels per day for a week due to pipeline maintenance.

Venture Global to Sell LNG to China National Offshore Oil Corp

Venture Global LNG said it has signed a 20-year deal to sell liquid natural gas to a unit of China National Offshore Oil Corp.

Norway's Aker BP in $14 Billion Deal to Buy Lundin Energy's Oil and Gas

Norway's Aker BP will buy the oil and gas business of Sweden's Lundin Energy, forming the second-largest listed petroleum firm on the Norwegian continental shelf.

Gazprom Expects Dividend on 2021 Results at More Than 45 Roubles/Share

Russian energy giant Gazprom expects to pay dividend on 2021 results of more than 45 roubles ($0.6087) per share thanks to high oil and gas prices.

RWE Zeroing in on Green Hydrogen Production Plans

Germany’s RWE, signed a contract with professional services firm Jacobs to study the production and supply of green hydrogen at the Pembroke Power Station in Wales.

Proteum Energy and Istmo Energy to Produce Low-Cost Hydrogen in the Permian Basin

Proteum Energy entered a Memorandum of Understanding with Istmo Energy for Proteum to provide low cost, low carbon intensity hydrogen to Istmo for production of "ultra-low sulfur diesel" and clean hydrogen.

BP to Buy Out US Pipeline Partnership in $723 Million Deal

BP will acquire the remaining stake in its U.S. pipelines partnership BP Midstream Partners LP that it doesn't already own in a more than $700 million deal.

Japan's Osaka Gas Plans to Enter India's City Market

Japan's Osaka Gas Co. said it plans to enter India's city gas market as a part of efforts to expand its overseas businesses to drive profit growth.

Investor Group Faults New Exxon Board Members on Climate Transition Plan

A coalition of Exxon Mobil Corp. investors wants the oil company to replace its chief executive officer and move more aggressively to slash greenhouse gas emissions.

Pipeline Technology Specialist STATS UK Acquired by SRJ Technologies for £73 Million

The acquisition combines STATS with SRJ’s portfolio of technologies that are positioned to capitalize on global energy market growth and the transition to green energy.

Nigeria's State Oil Firm Posts $346 Million Trading Surplus in June

NNPC's report said in June 47 pipeline points were vandalized compared to 64 in May, with the Port Harcourt area and Mosimi accounting for 94% of the vandalism.

ConocoPhillips Offloads Indonesia Assets in Asia-Pacific Revamp

ConocoPhillips will quit Indonesia, selling its assets there for $1.355 billion to domestic energy company Medco Energi Internasional, and beef up in Australia as it continues to reshape.

Companies in the News December 2021

Texas Pipeline Operator Altus to Combine with BCP Raptor   Altus Midstream will merge with BCP Raptor, a holding company for  pipeline  assets in the Permian Basin, with the combined entity to be valued at $9 billion inclusive of debt.   The transaction allows BCP to go public and gives control of..

People in the News December 2021

Noack Plains All American appointed Dan Noack to the recently created role of vice president, Emerging Energy and Process Optimization and the formation of a cross-functional Emerging Energy team. Noack has more than 25 years of energy industry experience a..

Med-Red Begins Shipments Through EAPC Pipeline Network

Med-Red Land Bridge Company signed its first contract for a vessel to use the recently recommissioned 150-mile (242-km) pipeline owned by Europe Asia Pipeline Company.

Magellan Exploring Options for its Permian Longhorn Crude Pipe

Magellan Midstream Partners LP is evaluating alternative uses for its Longhorn crude pipeline from Texas's Permian Basin, including converting it to carry other commodities like natural gas or refined products.

Carbon+Intel: Enterprise Products Could Repurpose Pipelines for Carbon Projects

Pipeline operator Enterprise Products Partners could repurpose some of its vast U.S. network of energy pipelines for carbon capture and sequestration projects, co-Chief Executive Jim Teague said.

Chesapeake Energy Launches $1 Billion Stock Buyback

Chesapeake Energy Corp. said it would buy back up to $1 billion of stocks, becoming the latest shale producer to focus on shareholder returns, as energy prices recover from pandemic lows.

Enbridge Raises Dividend, Plans Share Buybacks as Profit Set to Rise

Enbridge Inc. on Tuesday raised its dividend and announced plans to buy back shares, as the Canadian pipeline operator forecast higher core earnings in 2022 on rising demand for oil and gas.

BlackRock, Saudi Asset Manager Hassana Sign Deal for Aramco's Gas Pipelines

Saudi Aramco said it has signed a $15.5 billion lease-and-leaseback deal for its gas pipeline network with a consortium led by BlackRock Real Assets and state-backed Hassana Investment Co.