Companies
Companies in the News July 2022
Companies in the News July 2022
Marcellus, Utica Operators Post Victories, Recalibrate
To be sure, it has not been an easy road, but of all the projects that have been completed this year, the Mariner East system may be midstream’s most satisfying – it certainly has been for those in the Marcellus and Utica shale plays of Pennsylvania, West Virginia and Ohio.
Enbridge First-Quarter Profit Rises on Higher Shipment Volumes
Canada's Enbridge Inc. reported a 4.34% rise in first-quarter profit on Friday, as a surge in demand for oil and gas boosted the pipeline operator's shipment volumes.
Magellan Midstream Raises Cash Flow, Profit Estimates on Higher Prices
Magellan Midstream Partners LP raised its cash flow and profit forecasts for this year as it expects higher oil and products prices to lead to increased flows in its pipelines, the company said on Thursday.
Shell in Talks with Chinese Firms to Sell Stake in Russian Gas Project
Energy giant Shell is in talks with some Chinese companies to sell its stake in a major Russian gas project amid sanctions imposed on Moscow over its invasion of Ukraine.
Exxon Mobil May Completely Withdraw from Russia by June 24 — Sources
Exxon Mobil is considering a complete withdrawal from Russia by June 24, following the U.S. group's decision back in March to exit from its oil and gas operations in the country.
NextEra Posts Quarterly Loss After Taking Hit from Natural Gas Prices
NextEra Energy Inc. took losses of $1.77 billion on some of its hedges as natural gas prices shot up during the period and was also hit by a $600 million after-tax impairment on its investment in the Mountain Valley Pipeline.
Pipeline Operator Kinder Morgan's Profit Sinks on Lower Crude Volumes
Kinder Morgan Inc. reported a nearly 53% plunge in quarterly profit on Wednesday as the U.S. pipeline operator transported lower volumes of crude and condensate.
INGAA’s New Foundation Chair Brings Much Experience to the Position
When it comes to experience in pipeline construction, INGAA Foundation’s new chair, Marty Jorgensen, has it in spades – about 40 years’ worth.
Whiptail Midstream Acquires 525 Miles of Pipeline in San Juan Basin
Whiptail Midstream has acquired DJR Energy's oil, gas, and water gathering assets in the Gallup oil window of the San Juan Basin, doubling the company's dedicated acreage, miles of pipeline and production flowing on its assets.
South Africa’s Tribunal Approves Pipeline Company Acquisition
The South Africa Competition Tribunal has approved without conditions the large merger of South Africa African Gas Development Company SOC O Ltd. (iGas), Companhia Mocambicana de Gasoduto S.A. (CMG) and Republic of Mozambique Pipeline Investments Company (Pty) Ltd. (ROMPCO).
Companies in the News March 2022
Companies Pipeline engineering software developer Technical Toolboxes has been acquired by HKW, a private equity firm. The deal will provide the company with the resources it needs to grow, said CEO Drew Lafleur. Technical Toolboxes has provided software to support midstream engineering needs for..
BP Dumping Stake in Russia's Rosneft in Up to $25 Billion Hit
BP is abandoning its stake in Russian oil giant Rosneft, marking the most significant move yet by a Western company in response to Moscow's invasion of Ukraine.
Equitrans Nixes Summer Start of Mountain Valley Pipeline
Equitrans Midstream on Wednesday announced that it is no longer targeting a summer 2022 startup of its long-delayed Mountain Valley Pipeline (MVP) and is not yet able to provide an update on the project's in-service timing or overall cost.
Companies in the News February 2022
Companies KTN Becomes Full Member of ROSEN Group KTN AS, which has worked closely over the past five years with the ROSEN Group to provide in-line inspection (ILI) services for challenging pipelines, has become a full member of the ROSEN Group to provide its portfolio of services under the ROS..
Clearfork Completes Acquisition of Azure Midstream
Azure Midstream Energy, a natural gas midstream company operating in North Louisiana and East Texas, announced Tuesday that it has closed on its sale to Clearfork Midstream.
Dakota Access Pipeline Suffers US Supreme Court Setback
The U.S. Supreme Court on Tuesday rejected a bid led by Dakota Access Pipeline operator Energy Transfer to avoid additional environmental review of a section that runs under an artificial lake and is opposed by nearby Native American tribes, leaving the pipeline vulnerable to being shut down.
NextEra Takes $800 Million Charge for Mountain Valley Pipeline
A unit of NextEra Energy recorded an $800 million impairment charge in the first quarter as the U.S. renewable energy company re-evaluates its investment in the long-delayed Mountain Valley Pipeline.
SoCal Unveils Plan to Supply Los Angeles with Green Hydrogen
Southern California Gas, the largest U.S. natural gas utility, on Thursday unveiled a major proposal to deliver hydrogen produced by wind and solar energy to the Los Angeles area.
Energy Transfer Eyes Permian Gas Pipeline, Starts Gulf Run Construction
Energy Transfer has joined at least two other companies looking to build the next pipeline to transport growing natural gas production from the Permian Basin to export hubs on the Gulf Coast.
TC Energy Beats Profit Expectations on Stronger Demand
Canada's TC Energy beat analysts' estimates for quarterly profit on Tuesday, boosted by a pick-up in pipeline transport volumes, as oil prices surged about 50% in the quarter.
Venture Global to Buy Natural Gas from Repsol for LNG Plant
Venture Global LNG has agreed to buy natural gas for its Plaquemines LNG export plant in Louisiana, expected to start up in 2024, from a unit of Spanish energy company Repsol.
Mariner East Pipeline System Construction Complete, Commissioning in Progress
After numerous delays and environment-related issues, Energy Transfer expects its Mariner East pipeline system to be fully completed in the first quarter of this year.
Enbridge Reports Higher Profit as Pipeline Volumes Rise
Enbridge reported a nearly 4% jump in fourth-quarter profit on Friday, as a recovery in fuel demand boosted the Canadian pipeline operator's oil transportation volumes, but it missed earnings expectations.
Eni Talking to Investors on Energy Transition SPAC
Eni is testing investor appetite for a special purpose acquisition company (SPAC) dedicated to energy transition projects as part of its own green drive, two sources said.
New York Pension Fund to Divest Half its Shale Companies
New York's state pension fund will sell $238 million worth of stock and debt it holds across 21 shale oil and gas companies including Chesapeake Energy Corp, Hess Corp and Pioneer Natural Resources, saying they have not shown they are ready to move to a low-emissions economy.
Layoffs Begin at Shuttered Phillips 66 Alliance Louisiana Refinery
Phillips 66 this week began laying off hourly workers at its shuttered Alliance, Louisiana, refinery, which is being converted to an oil and refined products terminal by August, sources familiar with plant operations said on Wednesday.
Williams Hires LNG Executives for New Marketing Arm
U.S. natural gas pipeline operator Williams Companies has hired two veteran executives to set up an LNG marketing operation, according to employee profiles and people familiar with the matter.
Editor's Notebook - Replacing Pipelines in California
Plains All American’s application to build a replacement pipeline in California is entering a critical phase this year, as the state’s potential as a location for fuel infrastructure increasingly comes in conflict with efforts to curb climate change.
Venture Global Gets OK on 4th LNG Block at Louisiana Calcasieu Plant
U.S. LNG company Venture Global LNG received permission on Tuesday from federal energy regulators to commission the fourth liquefaction block at the company's Calcasieu Pass LNG export plant in Louisiana.
- Repsol Ditches Plans to Develop LNG Terminal on Canada’s East Coast
- Kazakh Oil Decouples from Russian Crude But Risk Weighs on Price
- Pipeline Operator TC Energy Says Stress, Weld Fault Caused Keystone Oil Spill
- US to Sell 26 Million Barrels of Oil Reserves As Mandated by Congress
- Ukraine to Jointly Buy Gas with European Union Countries
- Company Cancels Byhalia Connection Pipeline Project
- US Intelligence Suggests Pro-Ukrainian Group Sabotaged Nord Stream Pipelines -NYT
- EIA: US Natural Gas Output to Hit Record High in 2023, Demand to Fall
- US Regulator Orders Lower Pressure on Keystone Pipeline System After Spill
- US Carbon Pipeline Faces Setback as Residents Refuse to Cede Land Rights
