Midstream – Page 3 – Oil & Gas 360

November presidential election critical to secure Alaska’s energy future, Gov. Dunleavy reports at CERAWeek

March 22, 2024

World Oil (WO) – During CERAWeek by S&P Global’s fourth day in Houston, Texas, Vice Chairman Dan Yergin sat down with Mike Dunleavy, Alaska’s Governor, to discuss the future of Alaskan energy. Alaska’s “extraordinary” resource potential. During the discussion and following press conference, Gov. Dunleavy made it clear that Alaskan resources are “extraordinary” due to the state’s unique location and

TC Energy to sell Portland Natural Gas Transmission System for $1.14 bln

March 4, 2024

Nasdaq TC Energy TRP.TO said on Monday it has agreed to sell Portland Natural Gas Transmission System (PNGTS) to a BlackRock-managed fund and Morgan Stanley Infrastructure Partners for $1.14 billion as part of its ongoing efforts to reduce debt and fund investments. The Calgary, Alberta-based company, best known for its Keystone oil pipeline, is undergoing an overhaul and had said last

Dialogue & innovation: industry leaders unite at TOGC 2024 to discuss the future of pipelines

February 26, 2024

Oil and Gas 360 Publisher’s Note: Oil and Gas 360 media partner congratulates the Transportation Oil & Gas Congress (TOGC) 2024 for another successful year. Transportation Oil & Gas Congress (TOGC) 2024 brought together C-level executives and technical specialists from major companies to explore sustainable solutions for the future in the pipeline sector. Event held in Milan, Italy, on February

Trans Mountain expansion may not give long-term price relief to Canada’s booming oil output

February 21, 2024

BOE Report Canadian oil producers expect the discount on their crude to shrink significantly when the Trans Mountain pipeline expansion (TMX) starts this year, but the relief may be short-lived as surging supply looks set to exceed the country’s pipeline capacity in just a few years. TMX will ship an extra 590,000 barrels per day (bpd) of crude, trebling existing

Exclusive-Occidental explores $20 billion-plus sale of Western Midstream, sources say

February 20, 2024

Yahoo Finance Occidental Petroleum is exploring a sale of Western Midstream Partners, a U.S. natural gas-focused pipeline operator that has a market value of close to $20 billion, including debt, according to people familiar with the matter. Western Midstream shares rose 10% to $32.12 in afternoon trading in New York on Tuesday. The divestment would help Occidental, which is backed

Embattled Phillips 66 close Oklahoma pipeline after fire, rupture

January 31, 2024

Oil Price Less than a month after news that Phillips 66 was discussing the sale of some of its assets, the company has been forced to shut down a section of a natural gas pipeline due to a fire. The natural gas pipeline in the Oklahoma Panhandle ruptured after a fire on Tuesday, with Phillips 66 saying in a Wednesday

Trans Mountain Pipeline hits yet another delay

January 30, 2024

Oil Price The Trans Mountain expansion project may be in for yet another delay as the company in charge of it reported encountering “technical issues” during construction. In a statement, the company said that the issues “will result in additional time to determine the safest and most prudent actions for minimizing further delay.” The expanded pipeline was scheduled to begin operation

Trans Mountain Pipeline faces two-year delay without route change

January 12, 2024

Oil Price The Canada Energy Regulator is hearing arguments on Friday from Trans Mountain Corporation on why it should allow a change in the route and diameter of a small section of the pipeline. The company has warned that without that change it could face a worst-case scenario of a delay of two years in the completion of the pipeline. The expanded

FOCUS-Canada oil firms face losses as booming supply runs into Trans Mountain delays

December 5, 2023

Nasdaq Canadian oil producers are bracing for further potential delays to the Trans Mountain pipeline expansion (TMX) that could cost them millions of dollars in lost revenues in coming months after they ramped up production ready to fill the expanded line, meant to unlock access to Asia. However, the project, about 95% completed, has been beset by construction issues in

Kinder Morgan strikes $1.82-billion deal for Texas natural gas pipelines

November 7, 2023

Oil Price Kinder Morgan will buy the natural gas pipeline portfolio of NextEra Energy Partners in Texas, paying $1.82 billion for the assets. The pipeline network has a throughput capacity of 4.9 billion cu ft daily, Kinder Morgan said in a news release about the deal. The company added that the pipeline assets were “highly contracted”, with the average length of contract at

Energy giants’ LNG trading results reveal diverging regional bets

November 3, 2023

Nasdaq LONDON – Energy giants offered a rare glimpse into their liquefied natural gas (LNG) trading strategies in recent days, with Shell’s and TotalEnergies’ bets on rising Asian demand paying off while BP’s bet on a European deficit turned sour. The contrasting outcomes highlight the risky nature of trading divisions, at times notching up spectacular profits as traders quickly exploit

Oil slips as investors watch diplomatic moves in Gaza war

October 23, 2023

CNBC Oil prices slipped on Monday as investors continued to focus on the situation in the Middle East, where diplomatic efforts are intensifying in an attempt to contain the conflict between Israel and Hamas. Oil slips as investors watch diplomatic moves in Gaza war Brent crude futures fell 63 cents, or 0.7%, to $91.53 a barrel, as of 9:41 a.m.

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