Business News
Petroleum Economist Hosting Annual LNG to Power Forum in Houston
Petroleum Economist will host its 4th annual LNG to Power Forum Americas in Houston, highlighting the evolving role of LNG in global markets as well as the shift away from oil-fired generation. New for 2022, the forum will now take a deep dive into Central and South America.
Oil Refiner Citgo Petroleum Reports $477 Million Third Quarter Profit
Oil refiner Citgo Petroleum on Thursday reported third quarter earnings of $477 million on strong margins and higher throughput at its three U.S. oil processing plants.
Pipeline Operator TC Energy Posts Higher Profits, Looks to Sell Assets
North American oil and gas pipeline company TC Energy Corp. said on Wednesday it was looking to sell $3.7 billion worth of assets to repay debt and fund new projects and reported an 8% rise in quarterly profit.
Pipeline Operator Plains All American Raises 2022 Profit Forecast
Oil and gas pipeline operator Plains All American on Wednesday raised its profit forecast for the third time this year, helped by higher volumes on its Permian basin pipelines and increased commodity prices.
Analysis-Pipeline Blasts Leave Nord Stream in Insurance Limbo
With the mystery of the blasts that destroyed undersea gas pipelines between Russia and Germany unsolved, Nord Stream 1's insurers and reinsurers are grappling with how to respond to hundreds of millions of dollars in potential claims.
Exxon Selling Yellowstone Pipeline Rights, Silvertip Crude Oil Pipeline for $310 Million
Exxon Mobil Corp. on Thursday agreed to sell its Billings, Montana, refinery and related pipeline properties to Par Pacific Holdings Inc. for $310 million. The assets being sold off include the Silvertip Pipeline, Exxon's interest in the Yellowstone Pipeline as well as Yellowstone Energy LP and its interests in product terminals in Montana and Washington.
Martin Midstream Sells California Sulfur Terminal to Gulf Terminals
(P&GJ) — Martin Midstream Partners LP has announced the sale of its Stockton Sulfur Terminal to Gulf Terminals LLC. The net proceeds of approximately $5.25 million will be used to reduce outstanding borrowings under the partnership’s revolving credit facility.
Infineum to Acquire Entegris’ Pipeline and Industrial Materials Business
(P&GJ) — Infineum and Entegris Inc. have entered into a definitive agreement for Infineum to acquire Entegris’ Pipeline and Industrial Materials business. The transaction is expected to close in the fourth quarter of 2022, subject to receipt of required regulatory approvals and other customary closing conditions.
AMPP CEO Bob Chalker to Retire Next Summer
(P&GJ) — AMPP CEO Bob Chalker has announced his plans to retire in July 2023, the company said in a statement on Monday. Chalker has served in his role for more than 12 years, starting first with NACE International and then as CEO of AMPP through the merger of NACE and SSPC in 2021.
Enbridge’s Al Monaco to Retire; Greg Ebel Named as New CEO
(P&GJ) — Enbridge Inc. today announced Al Monaco's retirement as president and CEO as well as his departure from its board of directors effective January 1, 2023.
Enbridge to Sell Stake in Seven Oil Pipelines to Indigenous Groups for $819 Million
Canada's Enbridge Inc. will sell an $818.83 million minority stake in seven Alberta oil pipelines to a group of Indigenous communities, the company said on Wednesday, adding that it may also sell at least part of its Trans Mountain pipeline to Indigenous groups once its expansion is closer to completion.
Kinder Morgan Sells Half Its Stake in LNG Facility in Georgia for $565 Million
U.S. pipeline operator Kinder Morgan Inc. said it had sold half its stake in an LNG facility in Georgia to an undisclosed buyer for about $565 million and would use the funds to pay short-term debt and buy back shares.
Gas Producer EQT Expected to Buy THQ Appalachia for $5.2 Billion
The deal, expected to close in the fourth quarter, will add an estimated 800 MMcf/d of gas equivalent production for EQT, and includes pipeline infrastructure supporting that production, the company said.
Cheniere Vying for P&GJ Award for Maintenance Technology
Among the finalists in the Best Advance in Maintenance Technology is Cheniere’s Ultrasonic Meter Fleet Diagnostic Monitoring Program, which addresses the failure of measurement equipment.
Exxon to Sell Arkansas Shale Gas Assets to Flywheel Energy
The assets under agreement include approximately 5,000 natural gas wells — 850 operated and approximately 4,100 non-operated — and related pipeline and processing properties across approximately 381,000 acres.
Pipeline Technique Successfully Acquires Stanley’s Oil and Gas Division
Pipeline Technique, a market leader in the onshore and offshore infrastructure welding, coating, and technological engineering sector, has completed its transformational acquisition of a trio of industry-leading energy infrastructure businesses from Stanley Black & Decker.
2022 Pipeline & Gas Journal Awards Finalists Announced
Pipeline & Gas Journal Awards judges have narrowed down nominations and are happy to announce the finalists for its annual event in November, which honors the midstream sector’s leading innovations and outstanding personal contributions to the industry.
Canada’s Trans Mountain Names Dawn Farrell as President, CEO
Canadian pipeline operator Trans Mountain Corp. has named Dawn Farrell, former top boss of electricity firm TransAlta Corp., as its CEO and president on Wednesday.
Artera Reveals Plans to Merge Otis Eastern and Minnesota Limited
Artera Services, one of the nation’s industry-leading providers of integrated infrastructure services to the natural gas industry, announced its plan to merge Otis Eastern Service, and Minnesota Limited, to form Otis Minnesota Services LLC.
People in the News July 2022
People in the News July 2022
Pipeline & Gas Journal Accepting Nominations for Annual P&GJ Awards
Pipeline & Gas Journal is accepting nominations for its annual Pipeline & Gas Journal Awards, which will honor the midstream energy segment’s leading innovations and outstanding personal contributions to the industry.
Pipeline Technique to Acquire Stanley Oil & Gas
Pipeline Technique has agreed to acquire the oil and gas division of Stanley Black & Decker, which includes CRC-Evans, Pipeline Induction Heat, and Stanley Inspection.
Aramco Americas Named as Host Sponsor for Carbon Intel Forum
Gulf Energy Information, producer of the Carbon Intel Forum, is pleased to announce that Aramco Americas will be Host Sponsor for the 2022 event to take place September 28 – 29 in Houston, Texas.
People in the News June 2022
People in the News June 2022
Tellurian COO Keith Teague Retires
Tellurian Inc. announced on Monday that Chief Operating Officer Keith Teague is retiring from full-time employment and will continue with Tellurian in an advisory role.
What's New May 2022
Emerson, RegO, Sick, Dekotec, Esco Tool and Polygon.
Pipeline Operator TC Energy Posts Quarterly Profit
TC Energy reported a quarterly profit, compared with a year-earlier loss when it took C$2.2 billion ($1.7 billion) in impairment charges related to the suspension of its Keystone XL pipeline project.
What's New April 2022
News from Vermeer, NDT Global, Sensirion, Fine Tubes, NevadaNano and Ralston.
What's New March 2022
News from OleumTech, Honeywell, NDT Global, Dynatrol, Antaira and Denso.
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.
- Keystone Oil Pipeline Resumes Operations After Temporary Shutdown
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
- Freeport LNG Plant Runs Near Zero Consumption for Fifth Day
- Enbridge to Invest $500 Million in Pipeline Assets, Including Expansion of 850-Mile Gray Oak Pipeline
- Williams Delays Louisiana Pipeline Project Amid Dispute with Competitor Energy Transfer
- Evacuation Technologies to Reduce Methane Releases During Pigging
- Editor’s Notebook: Nord Stream’s $20 Billion Question
- Enbridge Receives Approval to Begin Service on Louisiana Venice Gas Pipeline Project
- Mexico Seizes Air Liquide's Hydrogen Plant at Pemex Refinery
- Russian LNG Unfazed By U.S. Sanctions
