Business & Markets
Trafigura Begins Shipping Permian Crude via Plains' Cactus II
Trafigura Trading today said it has commenced shipments of crude oil from the Permian Basin to the Corpus Christi, Texas, via the Cactus II Pipeline, marking the first confirmed shipments on Plains All American's newly operational system.
Mexico Looks to Expand Pipelines, Develop Own Reserves
Mexico’s rapid growth of demand for electricity over the last decade happily coincided with burgeoning supplies of cheap shale gas in nearby Texas. This Mexican demand and Texan abundance drove a boom in cross-border pipeline construction which continues to this day.
Pipeline Construction, LNG Terminal Start-Up Delayed in India
Indian natural gas company H-Energy will delay the start of its LNG import terminal at Jaigarh until the fourth quarter, company CEO Darshan Hiranandani, told Reuters.
Energy Transfer in Talks to Build U.S. Gulf Coast Supertanker Crude Export Facility
Energy Transfer LP said on Thursday it was in discussions with potential shippers to build an export facility in Texas capable of handling supertankers, which can transport about 2 million barrels of crude.
U.S. Natural Gas Prices Continue to Drop as Demand Soars
U.S. natural gas demand is at an all-time high and expected to keep rising - and yet, prices are falling.
New U.S. Pipelines Poised to Start Price War for Shale Shippers
The operators of two new pipelines in West Texas shale fields are offering discounted prices to attract shippers accustomed to high fees to move oil to export hubs, according to the pipeline companies and federal filings.
Gazprom Signs Five-Year Natural Gas Deal with Turkmenistan
Gazprom has signed a 5-year contract with Turkmengaz to purchase natural gas, the Russian gas producer sad.
Egypt Agrees to Pay Israel $500 Million to End Gas Dispute
Egypt says it has struck a deal with the state-owned Israel Electric Corp to settle a fine for halting deliveries of natural gas.
Gazprom Signals Tough Talks with Ukraine on Gas Transit to EU
Alexei Miller, the head of Russian gas giant Gazprom, on Friday warned of difficult talks with Ukraine on gas transit to Europe once the current deal expires at the end of the year.
Permian to Need More Crude Takeaway Capacity: WoodMac
Planned crude oil pipeline projects may result in a “moderate overbuild” of Permian Basin crude oil capacity in the early 2020s, but Wood Mackenzie analysts project this period of overcapacity will be fairly short-lived before even more capacity is needed.
Sources: Iraq Chooses BP and Eni Over Exxon for Pipeline Project
Iraq is close to reaching a deal with oil majors BP and Eni for an export pipeline project that was initially planned as part of a mega-deal with U.S. energy giant ExxonMobil, according to five senior Iraqi oil officials involved in the negotiations.
Oryx Secures $550 Million Investment From Qatar Investment Authority
Oryx Midstream Services (Oryx), the largest privately-held midstream crude operator in the Permian Basin, has announced that an affiliate of Qatar Investment Authority (QIA) has acquired a significant stake in Oryx from an affiliate of Stonepeak Infrastructure Partners (Stonepeak).
Plains' Cactus II to Start Commercial Service Next Week
Plains All-American's new Cactus II crude oil pipeline from the Permian Basin to the Gulf Coast is mechanically complete and will begin commercial service next week, CEO Willie Chiang said.
Caliber Midstream Acquires North Dakota Assets from American Midstream Partners
Caliber Midstream Holdings has acquired the North Dakota assets previously owned by American Midstream Partners.
Enbridge Kentucky Gas Pipeline to Remain Shut for at Least A Week
Canadian energy company Enbridge Inc said the section of its Texas Eastern pipeline in Kentucky that exploded on Thursday, killing one person, will remain shut through at least Aug. 12.
Black Bear Midstream Announces New L.A. Gas Agreement, Hints Further Expansion
Black Bear Midstream, a portfolio company of funds managed by Oaktree Capital Management, announced it has entered into a seven year gas gathering and processing agreement with a Cotton Valley producer in Desoto and Caddo Parishes, LA.
Confidence in New Permian Pipelines Lifts WTI Crude Prices Above Expectations
U.S. West Texas Intermediate (WTI) crude in Midland traded in positive territory for the first time in more than a month on Monday on expectations a new Permian pipeline will begin operation soon, traders said.
U.S. Now South Korea's 4th largest Oil Supplier
SEOUL (Reuters) - Just three years after lifting a ban on crude exports, the United States has overtaken Iran and the United Arab Emirates to become South Korea's fourth-largest oil supplier, displacing mainly oil from the Middle East.
SCM Launches Binding Open Season for Delaware Basin Crude System
Salt Creek Midstream's SCM Crude subsidiary launched a binding open season today to solicit binding commitments for priority crude oil interstate gathering and transportation service on its proposed Delaware Basin gathering and transportation system.
Plains Adds Cactus II Surcharge to Offset Steel Tariffs
Plains All American Pipeline LP said on Friday it will tack on a fee for users of a new oil pipeline to pay for the cost of the Trump administration's tariffs on imported steel, with analysts and traders calling it the first U.S. energy pipeline operator to do so.
Infrastructure-Led Exploration Reducing Offshore Pipeline Demand
Shell's announced plan to develop the PowerNap deepwater project in the U.S. Gulf of Mexico reflects a broader trend toward "infrastructure-led exploration" that weakens demand for the construction of new subsea export pipelines.
Enbridge Solicits Bids for Mainline Pipeline
Enbridge said on Friday it would invite bids for contracted space on its Mainline system, as shippers compete to move oil on the country’s congested pipeline networks.
UGI Completes $1.28B Columbia Midstream Acquisition
Energy distributor UGI Corporation said its Energy Services subsidiary has completed an acquisition of equity interests of Columbia Midstream Group from TC Energy for $1.275 billion.
Williams Seeks FERC Approval for Marcellus & Utica Takeaway Expansion
Williams has announced that its Transco interstate pipeline has filed an application with FERC seeking authorization for its Leidy South project, which is proposed to carry natural gas from the Marcellus and Utica plays to the East Coast.
Plains to Allocate Unused Cactus II Space to Committed Shippers
Plains All American LP said on Wednesday it would allocate unused space on its Cactus II crude pipeline to committed shippers if spot shipments fall below the 10% of capacity set aside for those shipments.
Altus Midstream Acquires Stake in Enterprise’s Shin Oak Pipeline
Altus Midstream has acquired a 33% interest in the Enterprise’s Shin Oak NGL pipeline, effective today.
Midstream Companies’ Improved Credit Raising LBO Risk
North American midstream companies that are deleveraging in response to muted investor interest and higher capital costs are indirectly raising the risk of leveraged buyouts (LBOs), according to a new report from Moody's Investors Services.
Boskalis to Manage Seabed, Shore Crossing for Scarborough Pipeline
Papendrecht, Netherlands-based Royal Boskalis Westminster said it has been awarded a contract valued at $162 million (145 million euros) for seabed intervention and shore-crossing activities for the proposed Scarborough export gas pipeline in northwestern Australia.
First Cargo of U.S. LNG Under PSNiG, Cheniere Long-Term Agreement Arrives in Poland
The first cargo of liquified natural gas under the long-term contract between Poland’s state-owned natural gas company, PGNiG, and U.S. LNG provider Cheniere Energy arrived today at the President Lech Kaczyński LNG Terminal in Świnoujście.
UAE's ADNOC Pipeline Investment Deal Reaches Nearly $5 Billion
Singapore’s sovereign wealth fund (GIC) is investing $600 million in Abu Dhabi National Oil Company’s (ADNOC) crude pipeline infrastructure bringing the total combined deal to $4.9 billion.
- 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
