Business News
TC Energy's 590,000-bpd Keystone Pipeline Resumes Operations
TC Energy's 590,000-barrels-per-day Keystone oil pipeline resumed operations after it was shut the previous evening for unplanned maintenance.
Uniper Secures $11 Billion of Credit to Cope with Gas Volatility
German utility Uniper has secured credit facilities worth 10 billion euros from parent Fortum and bank KfW in a move to cope with unprecedented volatility in energy markets.
Nord Stream 2 Go-Ahead Could Come in Mid-2022 - Uniper CEO
The Nord Stream 2 pipeline, which is to transport Russian gas to Germany, could get approved in the middle of the year.
Oil Rises Above $78 on Optimism About 2022 Outlook
Oil gained some support from an outage in Libya. Oil output will be cut by 200,000 barrels per day for a week due to pipeline maintenance.
Venture Global to Sell LNG to China National Offshore Oil Corp
Venture Global LNG said it has signed a 20-year deal to sell liquid natural gas to a unit of China National Offshore Oil Corp.
Norway's Aker BP in $14 Billion Deal to Buy Lundin Energy's Oil and Gas
Norway's Aker BP will buy the oil and gas business of Sweden's Lundin Energy, forming the second-largest listed petroleum firm on the Norwegian continental shelf.
Gazprom Expects Dividend on 2021 Results at More Than 45 Roubles/Share
Russian energy giant Gazprom expects to pay dividend on 2021 results of more than 45 roubles ($0.6087) per share thanks to high oil and gas prices.
RWE Zeroing in on Green Hydrogen Production Plans
Germany’s RWE, signed a contract with professional services firm Jacobs to study the production and supply of green hydrogen at the Pembroke Power Station in Wales.
Proteum Energy and Istmo Energy to Produce Low-Cost Hydrogen in the Permian Basin
Proteum Energy entered a Memorandum of Understanding with Istmo Energy for Proteum to provide low cost, low carbon intensity hydrogen to Istmo for production of "ultra-low sulfur diesel" and clean hydrogen.
BP to Buy Out US Pipeline Partnership in $723 Million Deal
BP will acquire the remaining stake in its U.S. pipelines partnership BP Midstream Partners LP that it doesn't already own in a more than $700 million deal.
Japan's Osaka Gas Plans to Enter India's City Market
Japan's Osaka Gas Co. said it plans to enter India's city gas market as a part of efforts to expand its overseas businesses to drive profit growth.
Investor Group Faults New Exxon Board Members on Climate Transition Plan
A coalition of Exxon Mobil Corp. investors wants the oil company to replace its chief executive officer and move more aggressively to slash greenhouse gas emissions.
Pipeline Technology Specialist STATS UK Acquired by SRJ Technologies for £73 Million
The acquisition combines STATS with SRJ’s portfolio of technologies that are positioned to capitalize on global energy market growth and the transition to green energy.
Nigeria's State Oil Firm Posts $346 Million Trading Surplus in June
NNPC's report said in June 47 pipeline points were vandalized compared to 64 in May, with the Port Harcourt area and Mosimi accounting for 94% of the vandalism.
ConocoPhillips Offloads Indonesia Assets in Asia-Pacific Revamp
ConocoPhillips will quit Indonesia, selling its assets there for $1.355 billion to domestic energy company Medco Energi Internasional, and beef up in Australia as it continues to reshape.
Companies in the News December 2021
Texas Pipeline Operator Altus to Combine with BCP Raptor Altus Midstream will merge with BCP Raptor, a holding company for pipeline assets in the Permian Basin, with the combined entity to be valued at $9 billion inclusive of debt. The transaction allows BCP to go public and gives control of..
People in the News December 2021
Noack Plains All American appointed Dan Noack to the recently created role of vice president, Emerging Energy and Process Optimization and the formation of a cross-functional Emerging Energy team. Noack has more than 25 years of energy industry experience a..
Med-Red Begins Shipments Through EAPC Pipeline Network
Med-Red Land Bridge Company signed its first contract for a vessel to use the recently recommissioned 150-mile (242-km) pipeline owned by Europe Asia Pipeline Company.
Magellan Exploring Options for its Permian Longhorn Crude Pipe
Magellan Midstream Partners LP is evaluating alternative uses for its Longhorn crude pipeline from Texas's Permian Basin, including converting it to carry other commodities like natural gas or refined products.
Carbon+Intel: Enterprise Products Could Repurpose Pipelines for Carbon Projects
Pipeline operator Enterprise Products Partners could repurpose some of its vast U.S. network of energy pipelines for carbon capture and sequestration projects, co-Chief Executive Jim Teague said.
Chesapeake Energy Launches $1 Billion Stock Buyback
Chesapeake Energy Corp. said it would buy back up to $1 billion of stocks, becoming the latest shale producer to focus on shareholder returns, as energy prices recover from pandemic lows.
Enbridge Raises Dividend, Plans Share Buybacks as Profit Set to Rise
Enbridge Inc. on Tuesday raised its dividend and announced plans to buy back shares, as the Canadian pipeline operator forecast higher core earnings in 2022 on rising demand for oil and gas.
BlackRock, Saudi Asset Manager Hassana Sign Deal for Aramco's Gas Pipelines
Saudi Aramco said it has signed a $15.5 billion lease-and-leaseback deal for its gas pipeline network with a consortium led by BlackRock Real Assets and state-backed Hassana Investment Co.
Energy Transfer Completes Acquisition of Enable Midstream
Energy Transfer now owns and operates more than 114,000 miles of pipelines and related assets in all of the major U.S. producing regions and markets across 41 states.
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.
- Williams Seeks Emergency Certificate to Operate $1 Billion Mid-Atlantic Gas Pipeline After Court Reversal
- Energy Transfer Subsidiary Selects KTJV for Lake Charles LNG Export Project
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- Malaysia’s Oil Exports to China Surge Amid Broader Import Decline
- Four Petroleum Liquids Pipelines Completed in U.S. Since 2023
- Lighter U.S. Permian Crude Risks Losing Favor with Refiners Due to Processing Challenges
- Saudi Arabia Looking to Expand Pipeline to Reduce Oil Exports via Gulf
- Report: Houston Region Poised to Become a Global Clean Hydrogen Hub
