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Fullstream company, Baker Hughes has concluded its demerger with GE, closing a secondary offering of 132.25 million shares of BHGE Class A common stock. With Baker completing the share repurchase, GE and its affiliates lost ownership of more than 50% of the voting power of all classes of BHGE’s voting stock. BHGE aims to revise its corporate name to Baker Hughes Company, known as Baker Hughes.
Pipeline firm Energy Transfer LP has agreed to acquire smaller rival SemGroup Corp in a $1.35 billion deal. The acquisition will gain Energy Transfer the ownership to SemGroup’s crude oil terminal on the Houston Ship Channel, crude oil gathering assets and oil and natural gas liquids pipelines. With an enterprise value of $5 billion, the deal is expected to close in late 2019 or early 2020.
Poland has won a European Union court ruling That would reduce Russia's control on Opal pipeline in Germany. Poland challenged the European Commission's 2016 decision which allowed Gazprom to use major capacity on the Opal pipeline. “The ruling keeps Poland’s and Ukraine’s energy security at a high level”, said the Polish Energy Minister. The pipeline has the capacity to transport 36 billion cubic meters of gas per year.
H-Energy has entered into a port service agreement (PSA) with Kakinada Seaports (KSPL). The company will develop a liquefied natural gas (LNG) regasification and reloading terminal at Kakinada port in Andhra Pradesh. The company has entered into this agreement through its wholly-owned subsidiary, East Coast Concessions (ECPL). LNG hub will be developed by the company keeping in mind the needs of domestic customers in Andhra Pradesh.
Environmental expert, RD Tripathi has denied the threat of an oil spill from the sinking of the dredger, Tridevi Prem, which sank near Mangaluru on September 2. Talking to reporters on Friday, Tripathi reasoned that since there was no blast or damage to the ship while it sank, the fuel compartments will remain intact. Chairman, NMPT had a similar reply, who based his argument on the water samples from the site.
Russian gas producer Gazprom has reported a fall in non-CIS gas exports in the period of Jan-Aug this year. There has been a decline of 4.5% in natural gas exports outside the former Soviet Union. Although the output of the company has increased by 1.7% reaching 331 bcm in the same period. Gazprom also revealed that the company's gas exports to Europe and its prices will fall in 2019.
Mexico government is trying to solve a dispute over fees and payments. Working on this, the government has reached a deal with private gas pipeline operators. Nation's President has slammed the private companies for taking unfair advantage of the of the country. "We avoided a dispute that would have implied going to international tribunals, a dispute that would have taken years to resolve", said Mr President.
According to the recent data, the dependency of India for crude oil imports has increased from Iraq, Saudi Arabia, Nigeria, and the United States. It has come at the time when two of its major oil suppliers Iran and Venezuela are facing sanctions from the US. Crude imports from Iraq have increased by 3% and 5.61% jump has been experienced from Saudi Arabia.
India’s state-run midstream giant, GAIL’s Chairman, yesterday, informed about plans of spending Rs 45,000 crores to expand the National Gas Grid and city gas distribution network. The investment will span over the next 5 years. While Rs 32,000 crore would go into pipeline laying, Rs 12,000 crore will be spent on CGD networks for the retailing of CNG to automobiles and PNG to household kitchens.
Russia is considering transferring operational management over oil input points to pipeline monopoly Transneft. Russian Prime Minister and Transneft's Chief Executive had a meeting to discuss about this matter. Transneft has assured that it is working towards improving the quality of contaminated water. In April, the discovery of contaminated crude through the Druzhba left the oil market in shock.
Oil Ministry of Iraq is in conversation with energy giant ExxonMobil. Both the parties are discussing over a deal to enhance Iraq's southern oil infrastructure. Iraq has also made it clear that its deal with BP and Eni was for the construction of two seabed oil pipelines for its southern exports through the Gulf. And also, it was not a part of the $53 billion 30-year southern mega-project.
The tariff on the transportation of Russian oil via Belarus is set to increase by 3.7% in September this year. The tariff on the transit will be further raised on Jan. 1, 2020, informed Russian Deputy Prime Minister Dmitry Kozak. Belarus has agreed with Russia on this decision to compensate for a drop in flows linked to oil contamination earlier this year.
Enbridge-owned Kentucky natural gas line erupted in a ball of flames in rural Kentucky yesterday. A local sheriff said that the explosion killed one person and put numerous houses on fire. The blast was second in the line of explosions that have taken place on Enbridge’s Texas Eastern natural gas pipeline. The pipeline delivers gas and utilities along the route to consumers, including Gulf Coast industrial facilities and LNG export terminals.
Gas Supply Agreement and the Host Government Agreement have been signed by Total, the Republic of Benin and the Société Béninoise d’Energie Electrique (SBEE). Under the agreement, LNG import floating terminal will be developed and Total will supply up to 0.5 Mtpa of regasified LNG to Benin for 15 years, starting in 2021. Benin's Energy minister has congratulated Total for its willingness to support the revitalization of its energy sector.
Iran detained two British oil tankers traveling through the Strait of Hormuz on Friday, worsening tensions with London and Washington. Naval forces from Iran’s Islamic Revolutionary Guard Corps detained and sent the British-flagged tanker Stena Impero to Iranian shores for legal procedures. The tanker was seized on the claims of not following international maritime regulations while transiting the strait. The British Government has cautioned of a “considered and robust” response.
Canada has signed its first binding supply agreement with China. A small-scale Canadian liquefied natural gas (LNG) plant, FortisBC has joined hands with Top Speed Energy Corp and will supply 53,000 tonnes from its Tilbury facility for two years. Though this deal is small, the nation expects much larger deals with operators of bigger new terminals.
Canadian energy infrastructure firm, Kinder Morgan recorded a net profit for the second quarter, climbing on the back of better incomes from natural gas pipelines and fewer impairment charges. The pipeline giant, however, missed Wall Street estimates in the earnings released yesterday. Kinder Morgan’s share traded lower nearly 2% at $20.21 in the after-hours.
Iran has made it very clear that nothing will stop the nation to export its oil. Foreign Minister of Iran, Mohammad Javad Zarif told its British counterpart that "Iran will continue its oil exports under any conditions". He has also appealed to Britain for releasing the Grace 1 oil tanker. This tanker was seized last week by the British Royal Marines.