Business & Markets
Hong Kong Billionaire Offered $9.4 Billion for Canada's Inter Pipeline: Globe and Mail
Canada’s Inter Pipeline Ltd rejected a C$12.4 billion ($9.37 billion) buyout offer from Hong Kong billionaire Li Ka-Shing’s CK Infrastructure Holdings Ltd in July, the Globe and Mail reported late on Thursday, citing sources familiar with the two companies.
Dozens of Enbridge Oil Shippers Divided Over New Proposed Shipping Contracts
More than two dozen oil companies wrote to Canada’s energy regulator on Thursday to support or oppose it intervening in Enbridge Inc’s contentious proposal to overhaul shipping contracts on the Mainline pipeline network.
Corpus Christi Crude Loadings Hit Record as New Texas Pipelines Open
U.S. crude oil loaded onto vessels at Corpus Christi, Texas, last week hit an average 1 million barrels per day (bpd) following the opening of new pipelines from West Texas shale fields, according to consultancy RBN Energy.
NuStar Completes Pipeline Projects, Begins Moving Volume
NuStar Energy has announced that it has completed and is moving volumes on three key pipeline projects that will significantly expand the partnership's capacity to move Permian crude oil to Corpus Christi for export, and to move refined products into Northern Mexico.
Suncor CEO Sees Increased Political Risk for Keystone XL
Canada's second-largest oil producer, Suncor Energy, believes the political situation in the United States has increased the risks to companies counting on construction of TC Energy Corp's proposed Keystone XL oil pipeline, its chief executive said on Wednesday.
Antin Infrastructure Looks to Sell Major UK Gas Pipeline
Antin Infrastructure Partners has hired investment banks to kick-start a potential $1.5 billion-plus sale of one of Britain's biggest gas pipelines, banking sources and an executive at a subsidiary of the buyout fund said.
Williams Completes Rivervale South to Market Project
Williams announced today that it has successfully placed into full service its Rivervale South to Market project – an expansion of the existing Transco natural gas pipeline system to meet growing heating and power generation demand for northeastern consumers.
Clean-Up of Polish Section of Druzbha Pipeline Could Take a Year
The operator of the Polish section of the Druzbha oil pipeline said on Tuesday that it could take up to a year to completely clean its part of the network.
U.S. LNG Grabs 10% of Market as Jan-Aug Exports Equal 2018 Volumes
U.S. exports of liquefied natural gas (LNG), negligible just three years ago, now amount to 10% of the global market and at 22 million tons so far this year are equal to the total volumes pumped out in 2018, Refinitiv data showed on Tuesday.
Cheniere Completes Second Train at Corpus Christi LNG Project
Cheniere Energy, the largest U.S. exporter of LNG, on Tuesday announced that Train 2 of its Corpus Christi, Texas, liquefaction project has been declared substantially complete.
China’s Gas Consumption Growth Rate Expected to Slip in 2019
China’s natural gas consumption growth rate is expected slow to around 10 percent in 2019, from 17.5 percent last year, amid easing economic growth and pressure on the country’s production, storage and gas sales network, a government report showed.
Asia's Imports of U.S. Crude Hit Record, but Pullback Likely: Russell
Columnist Clyde Russell says Asia’s record crude oil imports from the United States in August may be as good as it gets for some time - and not only because of the escalating trade war between Washington and Beijing.
U.S. to Help Poland, Ukraine Cut Dependence on Russian Gas
The United States, Poland and Ukraine agreed to enhance cooperation over secure gas supplies in the region which still relies on Russia.
Ruptured Nigerian Pipeline Spilled Oil: NNPC
A pipeline that ruptured on Friday in Nigeria's Delta state spilled oil, but has been contained, the head of state oil company NNPC said.
New Pipelines, Hurricane Drive WTI Inventories Down, Prices Up
U.S. oil futures rose 1.7% on Thursday, lifted by a deep draw on U.S. crude inventories, especially at the benchmark's delivery hub due to increased demand with the start-up of two new West Texas pipelines.
Feds Clear Way for Williams Pipeline over NY Objections
Federal regulators have cleared the way for a Williams Partners natural gas pipeline to move forward despite New York’s denial of a water quality permit that had blocked the project.
Gazprom Braces for Decline in European Gas Exports, Prices
Kremlin-controlled energy giant Gazprom on Thursday conceded for the first time that its gas exports to Europe, as well as its prices, will decline in 2019 following record-high volumes last year.
Nord Stream 2 Investor OMV Says Project Can Still Meet Deadline
The chief executive of Austrian energy firm OMV said the Nord Stream 2 company has not changed its expected completion date and could still deliver the project on time and budget, despite Denmark's still-pending decision on a construction permit.
Tallgrass Midstream Weighing Offer to go Private
Tallgrass Energy said it is forming a committee of independent directors to consider Blackstone Infrastructure Partners' proposal to buy all of Kansas-based midstream's shares it does not already own.
Saudi Aramco Sells First Crude From Permian Pipelines
Aramco Trading Company (ATC) sold its first-ever cargo of U.S. West Texas Light (WTL) crude, with a South Korean refiner the buyer, as the Saudi Aramco unit expands its U.S. oil dealings to boost trade volumes, four people familiar with the matter said.
Canada's Energy Regulator Responds to Concerns Over Enbridge Pipeline Plan
Canada's energy regulator on Tuesday responded to shipper complaints about Enbridge Inc's plan to switch to fixed contracts on its Mainline pipeline network by announcing a fast-track process to gather comment on the proposal that could lead to its being delayed.
North Dakota Pledges Improvement to Spill Reporting Procedures
North Dakota's Health Department is pledging to provide easily accessible information on oilfield and agriculture-related spills, a move that comes after a liquid natural gas pipeline leak that was much bigger than publicly reported and could take another decade to clean up.
BP to Quit Alaska After 60 Years With $5.6 Billion Sale of Assets
British oil major BP on Tuesday agreed to sell all its Alaskan properties for $5.6 billion to privately held Hilcorp Energy Co, exiting a region where it operated for 60 years.
New Permian Pipeline Startup Splits WTI Midland Market: Traders
WTI Midland crude prices at Plains All American Pipeline LP’s Midland terminal spiked this month compared with barrels traded at Enterprise Products Partners LP’s Midland terminal as Plains’ Cactus II pipeline began service, oil traders familiar with the matter said.
Canada's Largest Oil Producer Joins Opposition to Enbridge Pipeline Plan
Canadian Natural Resources Ltd, the country's biggest oil producer, has joined a number of other firms asking Canada's energy regulator to intervene in Enbridge Inc's plan to overhaul shipping contracts on its Mainline pipeline network.
Mexican President Touts $4.5 Billion Savings in New Pipeline Deal
Mexico said on Tuesday it had struck a deal with a group of companies to renegotiate the terms of natural gas pipeline contracts signed under the previous administration that will eventually save the government $4.5 billion.
TechnipFMC to 'De-Merge' into Two Independent Companies
TechnipFMC said it will separate into two independent, publicly traded companies to focus on their respective strategies and provide improved flexibility and growth opportunities. The new companies will split along the lines of their 2017 merger, with an integrated technology and services provider and an engineering and construction company.
Shell, Suncor Energy Ask Canadian Regulator to Review Contentious Enbridge Pipeline Plan
Two major oil companies have asked Canada's energy regulator to urgently review Enbridge Inc's proposal to switch to fixed contracts on its Mainline pipeline system, arguing the changes would be an abuse of Enbridge's market power.
Plains All American to Remove Steel Tariff Surcharge on Cactus II
Plains All American Pipeline filed with U.S. regulators on Monday to remove a proposed surcharge on its Cactus II oil pipeline, tacked on as a result of the Trump administration’s tariff on imported steel.
Wood Mackenzie Parent Verisk to Acquire Genscape
Verisk signed a definitive agreement to acquire Genscape, a global provider of real-time data and intelligence for commodity and energy markets, for $364 million in cash. Genscape will become part of Wood Mackenzie upon completion of the transaction.
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- ONEOK Agrees to Sell Interstate Gas Pipelines to DT Midstream for $1.2 Billion
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- Boardwalk Approves 110-Mile, 1.16 Bcf/d Mississippi Kosci Junction Pipeline Project
- Kinder Morgan Approves $1.4 Billion Mississippi Crossing Project to Boost Southeast Gas Supply
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- Enbridge Should Rethink Old, Troubled Line 5 Pipeline, IEEFA Says
- Polish Pipeline Operator Offers Firm Capacity to Transport Gas to Ukraine in 2025
