Company News

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.

Enterprise Products Oil Pipeline Volumes Drop Amid Winter Storms

Enterprise Products Partners LP said volumes across its pipelines dropped by 13% in the first quarter as producers and refiners were hit by winter storms, causing damage to facilities and disrupting shipments.

Winter Storms Hit Phillips 66 Partners' Q1 Pipeline Volumes

The amount of oil and gas shipped on Phillips 66 Partners LP pipelines fell about 6% in the first quarter as winter storms disrupted service and the COVID-19 health crisis continued to hamper fuel demand.

Continental Resources Ramping Up Bakken Operations, Adds Rigs to Powder River Basin

Shale oil producer Continental Resources on Thursday said it will ramp up activity in North Dakota's Bakken shale field this year as it shifts more of its production operations to crude oil from natural gas.

CenterPoint to Sell Arkansas, Oklahoma Gas Utilities for $2.15 Billion

U.S. electricity provider CenterPoint Energy Inc said on Thursday it has agreed to sell its natural gas utility businesses in Arkansas and Oklahoma to privately-held Summit Utilities for $2.15 billion in cash.

Brazil's Petrobras Sells Stake in NTS Gas Pipeline Network

Brazil's state-owned oil company Petroleo Brasileiro SA has approved the sale of its remaining 10% stake in the NTS gas pipeline network for 1.8 billion reais ($337 million) to Brookfield and Itausa SA.

U.S. Supreme Court Tackles PennEast Pipeline's Bid to Seize New Jersey Land

The U.S. Supreme Court on Wednesday wrestled with a bid by a group of energy companies seeking to seize land owned by New Jersey to build a $1 billion natural gas pipeline, as the state argues that its rights would be trampled.

Magellan Midstream Selling Partial Interest in Marine Joint Venture

Magellan Midstream Partners said it sold almost half of its interest in its Pasadena, Texas, marine terminal joint venture, MVP Terminalling, LLC, to an undisclosed buyer for $270 million.

Texas February Freeze Cost About $1.6 Billion, Vistra Says

U.S. energy company Vistra Corp boosted the negative impact of winter storm Uri in Texas in February to about $1.6 billion from its prior estimate of $900 million to $1.3 billion.

Frustrated Canada Presses White House to Keep Great Lakes Oil Pipeline Open

Enbridge said shutting Line 5 would cause fuel shortages and gas price spikes, and require 15,000 trucks and 800 rail cars a day to replace deliveries to Ontario.

Fluxys Partners with Brazilian Gas Transmission System Operator TBG

Gas infrastructure company Fluxys and institutional investor EIG Global Energy Partners have completed the announced transfer of EIG’s minority stake in Brazilian gas transmission system operator TBG.

LOOP, Phillips 66 Win 2020 Distinguished Pipeline Safety Awards

The American Petroleum Institute announced LOOP LLC and Phillips 66 Pipeline LLC are the winners of the 2020 Distinguished Pipeline Safety Awards, which recognize operators who have distinguished themselves as champions of industry innovation and operational excellence.

Equitrans Midstream Supports Methane Reduction Efforts

Equitrans Midstream supports the U.S. oil and gas industry's ongoing efforts to reduce methane emissions and reaffirms its prior opposition to the U.S. Environmental Protection Agency's (EPA) rollback of methane regulations in 2020.

Pipeline Company Recognizes April as National Safe Digging Month

Georgia’s Colonial Pipeline is reminding homeowners and contractors that safe digging must remain a priority to protect people and prevent damage to critical utility services.

Aramco Pipeline Investors to Refinance Loan with Bonds Next Year

EIG will lead a yet-unnamed consortium to issue billions of dollars in bonds across two or three transactions to replace bank debt backing an investment in Saudi Aramco’s oil pipeline assets, two sources said.

Companies in the News April 2021

Companies  Chevron U.S.A. and Brightmark expanded their joint venture to produce and market renewable natural gas (RNG) from dairy biomethane projects across the United States.   Subsidiaries of their RNG joint venture currently own RNG projects in Western New York, Western Michigan, Central Flor..

People in the News April 2021

People  Stempien AVANGRID announced the appointment of Catherine S. Stempien to the role of president & CEO of Avangrid Networks, its largest business unit, which serves 3.3 million customers with electric and gas service through eight companies in Maine,..

New Analysis Tool Can Help Solve Gas and Steam Transient Problems in Pipelines

Applied Flow Technology (AFT) says its new AFT xStream analysis software tool can help engineers rigorously evaluate and solve gas and steam transient engineering problems they have only been able to guess at in the past.

Phillips 66 Opts for Pipeline Control Center Operations Pilot

Phillips 66 selected Crux OCM, a system of robotic industrial process automation (RIPA), for an oil and gas operations pilot program. The program will incorporate the company’s pipeBOT, which requires fewer manual commands for control room operations.

Energy Defense Fund Pilots Method to Measure Offshore Emissions

Environmental Defense Fund (EDF) will collaborate with Neptune Energy to test a first-of-its-kind approach for measuring oil and gas methane emissions from offshore oil and gas facilities.

SSE Thermal and Equinor Planning UK Hydrogen and Carbon Capture Projects

The projects would utilize the parallel hydrogen and CO2 pipeline infrastructure being developed by the Zero Carbon Humber (ZCH) partnership – which includes Equinor and SSE Thermal – and offshore CO2 infrastructure.

TC Energy Seeking Renewable Energy to Power Pipelines

TC Energy Corporation is seeking to identify potential contract and/or investment opportunities in wind energy projects that could generate up to 2,500,000 megawatt hours per year or 620 megawatts of zero-carbon energy to meet the electricity needs for a portion of its pipeline assets along its U.S. corridor.

Aramco Agrees to $12.4 billion Deal to Sell Stake in Pipelines

Saudi oil producer Aramco has agreed a $12.4 billion deal to sell a 49% stake in its pipelines to a consortium led by U.S.-based EIG Global Energy Partners.

VVC Exploration Expanding Helium Portfolio, Acquires Gas Property in Kansas

The Monarch Lease is a 1,720-acre property in the Byerly Field in Greely County, Kansas. It includes six formerly producing gas wells connected to the Tumbleweed Midstream pipeline.