Company News

National Poll Finds Strong Support for Oil and Gas Pipelines

By a margin of more than 3-to-1, Americans believe pipelines are the best option to transport oil and gas compared to the alternatives of truck and train, both of which present additional risk and produce higher levels of carbon emissions.

TC Energy Terminates Keystone XL Pipeline Project

Energy infrastructure company TC Energy said on Wednesday it had terminated the $9 billion Keystone XL pipeline project, months after U.S. President Joe Biden revoked a key permit in a blow to Canada's oil sector.

One Password Allowed Hackers to Disrupt Colonial Pipeline

The head of Colonial Pipeline told U.S. senators that hackers who launched last month's cyber attack against the company and disrupted fuel supplies to the U.S. Southeast were able to get into the system by stealing a single password.

Libya Oil Pipeline Leaks Hitting Output, NOC Chief Says

The head of Libya's National Oil Corp (NOC) reiterated on Wednesday the need for funds for much needed repairs in the oil industry after corroded pipelines recently hit production.

Abu Dhabi's Mubadala Joins EIG-Led Consortium Buying Aramco Pipeline Stake

Abu Dhabi state investor Mubadala said on Tuesday it has joined a consortium led by U.S.-based EIG Global Energy Partners that had agreed to buy a 49% equity stake in Aramco Oil Pipelines Co.

Hartree Partners Buying Plains All American’s Natural Gas Storage Assets for $850 Million

Plains All American and Hartree Partners announced Plains will sell its Pine Prairie and Southern Pines natural gas storage facilities to an affiliate of Hartree for a total cash consideration of $850 million.

Pembina Pipeline to Buy 50% Stake in Canada's Proposed Cedar LNG

Pembina Pipeline Corp said on Tuesday it would buy a 50% stake in Canada's proposed Cedar LNG Project to develop the floating LNG facility in British Columbia in partnership with indigenous group, The Haisla Nation.

U.S. Recovers $2.3 Million From Colonial Pipeline Ransomware Attack

The U.S. Justice Department on Monday said it recovered some $2.3 million worth of cryptocurrency from the Colonial Pipeline Co ransomware attack.

Companies in the News June 2021

Honeywell said 11 of its safety products were selected as winners in the 2021 iF Design and Red Dot product design competitions, recognizing its “best-in-class and user-centric designs that keep workers and workplaces safe globally.”  The iF Design and Red Dot awards received thousands of entries w..

Third Coast Midstream Announces Sale of Final Non-Gulf Coast Related Assets

Third Coast Midstream announced that on Tuesday, one of its subsidiaries completed the sale of Third Coast Midstream's final non-core asset, and the company has fully reached the goal of becoming a Gulf of Mexico and Gulf Coast-focused midstream company.

Savannah Energy in Talks to Buy Exxon's Chad, Cameroon Stakes

Africa-focused Savannah Energy and Exxon Mobil Corp are in exclusive talks over the sale of Exxon's interest in energy assets in Chad and Cameroon. The British oil and gas producer is proposing to buy a 40% operated interest in the Doba oil project in Chad, and a 40% interest in the Chad-Cameroon oil transportation pipeline.

Inter Pipeline Acquires Milk River Pipeline System

Inter Pipeline announced it completed the acquisition of the Milk River pipeline system from Plains Midstream Canada ULC, in exchange for its 100% ownership in the Empress II and 50% ownership in the Empress V straddle plants.

Canada's Inter Pipeline Seals $7 Billion Sector Sale to Pembina After Blocking Brookfield

Pembina Pipeline Corp said on Tuesday it would buy rival Inter Pipeline Ltd in an all-stock C$8.3 billion ($6.90 billion) deal to create one of Canada's top oil and gas transportation companies.

Kinder Morgan to Buy Stagecoach Gas Services for $1.23 Billion

Kinder Morgan Inc said on Tuesday it has agreed to buy Stagecoach Gas Services LLC for $1.23 billion as the pipeline operator looks to expand into the northeast U.S. market.

Tellurian to Sell LNG to Gunvor, Delays Louisiana Project Start

U.S. LNG developer Tellurian Inc said on Thursday it signed a 10-year agreement with commodity trader Gunvor Group for 3 million tonnes per annum (MTPA) of LNG.

Total Announces Suspension of MGTC Cash Distributions

France’s Total distributed millions of dollars to a shareholder run by Myanmar’s military through gas sales linked to a pipeline, French newspaper Le Monde reported.

Ecopetrol Operations Impacted by Colombia’s Protests

Colombia’s Ecopetrol has accumulated high levels of inventories in wholesale plants and the pipelines network due to protests that “have resulted in blockades of the country's main roads and isolated incidents against certain of the Ecopetrol Group's infrastructure."

Cabot Oil & Gas, Cimarex to Create $17 Billion Firm in 'Surprise' Merger

Cabot Oil & Gas Corp and Cimarex Energy Co agreed a merger on Monday to form a U.S.-wide oil and gas firm with an enterprise value of some $17 billion, a deal analysts termed surprising in a sector recently focused on "pure-play" models.

France’s Total Signs 5-year LNG Supply Agreement with ArcelorMittal Nippon Steel

Total and ArcelorMittal Nippon Steel1 (AMNS) have signed an agreement for the supply of up to 500,000 tons of LNG per year until 2026.

Italy's Snam in World First with Test of 30% Gas-Hydrogen Blend in Steel Forging

Gas transport group Snam said on Wednesday a 30% blend of natural gas and hydrogen had been used for the first time to power furnaces at a steelmaker in northern Italy.

Shell in Talks with Nigeria to Divest Onshore Oil Stakes

Shell, the operator of the West African country's onshore oil and gas joint venture SPDC, has struggled for years with spills in the Niger Delta as a result of pipeline theft and sabotage as well as operational issues.

Max Midstream Has First Loading of Texas Oil at the Port of Calhoun Terminal

The Calhoun Port Authority and Max Midstream, a Texas-based energy company, announced the first successful loading of Texas oil at the Port of Calhoun Terminal in Point Comfort, Texas, last week.

Pipeline Operator Energy Transfer Mulls Chemicals Acquisition

Energy Transfer is weighing acquisitions in the booming chemicals business, co-founder and executive chairman Kelcy Warren said on Wednesday at a conference in North Dakota, where he also expressed confidence DAPL will continue to operate.

Companies in the News May 2021

Companies   Caterpillar has received the U.S. Environmental Protection Agency’s (EPA) Clean Air Excellence Award in the category of Clean Air Technology for the Cat 3512E Tier 4 DGB engine. This is the 17th year that the EPA has recognized individuals and organizations for their innovative efforts ..

Colonial Pipeline Shuts Down after Cyber Attack

Top U.S. fuel pipeline operator Colonial Pipeline has shut its entire network, the source of nearly half of the U.S. East Coast's fuel supply, after a cyber attack that industry sources said was caused by ransomware.

Energy Transfer Expects $2.4 Billion Boost from Winter Storm

Energy Transfer LP expects to gain roughly $2.4 billion from Winter Storm Uri, which knocked out power and halted the distribution of natural gas in Texas to homes and businesses, company executives said.

TC Energy Posts C$1 Billion Quarterly Loss on Keystone XL Suspension

Canadian pipeline operator TC Energy on Friday swung to a loss in the first quarter, hit by C$2.2 billion ($1.81 billion) impairment charges related to the suspension of its Keystone XL pipeline project.

EQT Announces $2.9 Billion Acquisition of Alta Resources' Upstream, Midstream Subsidiaries

EQT Corporation announced Thursday it entered into a purchase agreement with Alta Resources Development for EQT to acquire all of the membership interests in Alta's upstream and midstream subsidiaries for about $2.925 billion.

Results Show Billions in Profit from Texas Freeze for Gas and Power Sellers

Natural gas suppliers, pipeline companies and banks that trade commodities have emerged as the biggest market winners from February's U.S. winter blast that roiled gas and power markets, according to more than two dozen interviews and quarterly earnings reports.

Saudi Aramco Seeks $7.5 Billion Loan for Pipeline Investors

In late 2019, struggling Saudi Aramco (Aramco), the world’s largest oil company, completed the biggest initial public offering of shares to raise $25.6 billion, with additional shares sold, bringing the total raised to a hefty $29.4 billion.