Company News
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.
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.
- 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
- Mexico Seizes Air Liquide's Hydrogen Plant at Pemex Refinery
- 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
