Business News

MVP Expands Pipeline Holdings into Midland Basin

MVP Holdings acquired Echo Canyon Pipeline Holdings and its subsidiaries to substantially expand its crude business in the highly active southern Midland basin of West Texas.

Palantir and Kinder Morgan Sign Agreement to Strengthen Pipeline Operations

Kinder Morgan will use Foundry to analyze millions of data points from sensors across its entire pipeline network, contracts and storage assets, electricity consumption and weather data, grid data and commodities data.

Enbridge May Face Tougher Fight for Oil Barrels, Lower Rates, After Pipeline Ruling

A Canadian regulator's rejection last week of Enbridge's plan to sell space long-term on the country's biggest oil pipeline dealt the company a double whammy that analysts say could hit its bottom line.

Navigator and OCI Agree on CO2 Transportation, Storage Services Through Heartland Greenway

Navigator CO2 Ventures announced it has entered into an agreement with Iowa Fertilizer Company facility to provide CO2 transportation and storage services on its CCS system, the Heartland Greenway.

Gazprom Reports Record Quarter Profits on Surging Gas Prices

Russia's Gazprom reported a record quarterly net profit of 581.8 billion roubles ($7.8 billion) for the third quarter reflecting high natural gas prices and said it expected even higher earnings in the last three months of the year.

Carbon+Intel: Capital Power and Enbridge Collaborate to Reduce CO₂ Emissions in Alberta

Capital Power Corporation and Enbridge Inc. announced a memorandum of understanding to collaborate on carbon capture and storage solutions in the Wabamun area west of Edmonton, Alberta.

Oil Settles Down $10/bbl in Largest Daily Drop Since April 2020

Oil prices plunged $10 a barrel on Friday, their largest one-day drop since April 2020, as a new variant of the coronavirus spooked investors and added to concerns that a supply surplus could swell in the first quarter.

Inaugural Pipeline & Gas Journal Awards Winners Honored at In-Person Houston Gala

An elite group of midstream professionals gathered in Houston on Thursday evening to attend the inaugural Pipeline & Gas Journal Awards gala, which honored the midstream industry’s leading innovations and outstanding personal contributions.

Oman's OQ Says it May List Some Energy Assets on Local Market

Hilal al-Kharusi, OQ's acting chief executive commercial, said OQ could consider different options for its gas network, which could include stake sales, local listings or leasing of pipeline assets.

Judge Rules Enbridge Line 5 Oil Pipeline Case with Michigan be Heard in Federal Court

A legal battle between Canadian company Enbridge Inc. and Michigan over Enbridge's Line 5 oil pipeline will be heard in federal court, a judge ruled on Tuesday, dismissing Michigan's motion to have the case sent back to state court.

Ironwood Midstream Expanding Footprint in Eagle Ford Region of South Texas

The Ironwood II leadership team assumed management of Nuevo Midstream assets, including about 100 miles of crude oil gathering pipeline in Lavaca, Gonzalez, and Fayette counties.

People in the News November 2021

Garcia Rosa García was appointed as new chairwoman of Madrid-based liquids distribution and storage logistics provider Exolum, succeeding José Luis López de Silanes, who served as chairman for 16 years and will now become honorary chairman. She brings three..

Naturgy Trims Earnings Growth Forecast as Power Prices Squeeze Margins

An expansion of the Medgaz pipeline that brings gas from Algeria to Spain will be completed by the end of the year, Naturgy said.

Annual 500 Report Offers Few Surprises in Rankings

The list of companies leading the way in Pipeline & Gas Journal’s 41st annual 500 report will certainly be familiar to long-time midstream observers, with little shake-up in rankings occurring between the 2020 and 2021 editions of the publication.

23rd World Petroleum Congress Unveils United States Program

With the World Petroleum Congress back in the U.S. for the first time in decades, attendees will have a unique opportunity to hear in-depth discussions around specific areas where the U.S. is at the forefront.

Magellan Raises Forecast for Refined Products Shipments on Jet Fuel Demand

The pipeline operator said it expected the shipments to rise 14% from 2020, compared with 13% earlier, as volumes from expansion projects in Texas overcome the lingering impact of the COVID-19 pandemic.

Canadian Pipeline Companies Enbridge, TC Energy Report Higher Profits

Canada's largest pipeline companies Enbridge Inc. and TC Energy Corp. reported a rise in third quarter profits on Friday, helped by rising demand for oil and gas that boosted pipeline volumes.

Carbon+Intel: Pembina Pipeline Looks to Work with Rival Canada Carbon Capture Plans

Canada's Pembina Pipeline Corp. is asking backers of two competing proposals for carbon capture hubs in the oil-producing province of Alberta to combine efforts with its own plan.

Enterprise Products Oil Pipeline Volume Up 18% as Demand Recovers

Volumes on its natural gas liquids, crude oil, refined products and petrochemical pipelines have substantially recovered to near pre-pandemic levels despite temporary shut-ins from Hurricane Ida, the company said.

Australia's Macquarie Buys German Gas Pipeline Firm Thyssengas

Australian investment bank Macquarie Asset Management has agreed to buy Germany's second-largest gas pipeline operator, Thyssengas, to use the company's grid network to transport climate-friendly gases.

TWI Working With Joint Industry Project to Evaluate Gas Pipelines for Hydrogen Transport

TWI has joined forces with C-FER Technologies and the Sumitomo Corporation to launch a new Joint Industry Project with pipeline operators and manufacturers to evaluate the suitability of natural gas pipeline networks for transporting hydrogen.

EIG Shortlisted as Possible Buyer for Aramco Gas Pipelines

United States-based energy investor EIG has been shortlisted as a potential buyer of Saudi Aramco's gas pipelines, part of a sale that could exceed $17 billion and is likely to be completed later this year.

Equinor Q3 Surges on Gas and Derivatives, Boosts Share Buybacks

Norway's Equinor posted its strongest quarterly result in nine years on Wednesday, driven by a global energy supply crunch that pushed Europe's natural gas prices to record highs and sent the value of derivative contracts soaring.

Phillips 66 to Acquire Remaining Stake in Partnership for $3.4 Billion

Phillips 66 Partners was formed by the refiner to own, operate, develop and acquire primarily fee-based crude oil, refined petroleum products and natural gas liquids pipelines, terminals and other midstream assets.

Wood Awarded Contracts for UK’s First Hydrogen Distribution Pipeline Infrastructure

Wood has been awarded the consenting and environmental assessment and engineering design contracts for Cadent’s HyNet North West, an innovative project that aims to unlock a lower carbon economy for northwest England and North Wales.

Kellas Midstream Developing Low-Carbon Blue Hydrogen Hub in Teesside, UK

The project, called H2NorthEast, would require construction of a 1GW facility producing blue hydrogen utilizing UK North Sea natural gas which is transported to the CATS terminal by a 400 km (249 mi) pipeline.

Calhoun Port Authority, Max Midstream Announce Carbon Neutral Port Expansion Plans

The Calhoun Port Authority announced that the Congressionally authorized Matagorda Ship Channel expansion will be constructed using an Environmental Social Governance program with the intentions of making the project carbon neutral.

TC Energy Targets Net-Zero Emissions From its Operations by 2050

TC Energy Corp. said it would target net-zero emissions from its operations by 2050 after mounting pressure from investors and governments for energy companies to join the fight against climate change.

Crestwood Equity to Boost US Shale Footprint With $1.8 Billion Deal

Oil and gas pipeline operator Crestwood Equity Partners LP will buy Oasis Petroleum Inc.'s midstream unit in a $1.8 billion deal to expand its footprint in United States shale basins.

Citgo Boards in Last-Ditch Talks with Washington to Keep Creditors at Bay

The supervisory boards of Venezuela-owned Citgo Petroleum have held talks with U.S. officials in Bogota, Colombia, seeking to extend Washington's protection while Citgo pursues negotiations with creditors.