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Kinder Morgan records 26% jump in profits
Jan. 23, 2020
Source: Reuters

Kinder Morgan records 26% jump in profits

Midstream giant, Kinder Morgan yesterday recorded a 26% jump in the quarterly profit, climbing on the back of higher gas carryout from Permian Basin through its Gulf Coast Express pipeline. The Houston-based company filed a net income of $610 million in the fourth quarter, rising from $483 million, a year earlier. The Gulf Coast Express pipeline, which came into service in September 2019, can transport 2 billion cfd.

IOCL plans to montise pipeline and storage infrastructure
Jan. 4, 2020

IOCL plans to montise pipeline and storage infrastructure

Downstream giant, IOCL has planned to monetise its pipelines and storage infrastructure. The state-run oil guzzler has aimed to maximize the asset utilisation and lock future revenue using special purpose vehicles (SPVs). According to sources, many PE and VC funds have agreed to invest in IOC assets because of the assurance of elevated returns given by the refining major. IOC has expected this investment to raise its profitability and dividend payout.

Greece, Cyprus, Israel Will Sign EastMed Deal
Jan. 3, 2020

Greece, Cyprus, Israel Will Sign EastMed Deal

Energy ministers of Greece, Cyprus and Israel are expected to sign EastMed subsea pipeline agreement in Athens on Thursday. The collaboration has aimed to reach a final investment decision in 2022 and completion by 2025. The 1900 km long pipeline will be transporting natural gas from eastern Mediterranean’s developing gas industries to Europe. The pipeline project is owned by IGI Poseidon, a joint venture between Greek gas firm DEPA and Italian energy group Edison.

Russia has the vessel to build Nord Stream 2: Putin
Dec. 26, 2019
Source: Reuters

Russia has the vessel to build Nord Stream 2: Putin

While addressing a gathering of Russia's top businessmen on Wednesday, Putin said that Russia has a “pipe-laying vessel” to complete the construction of the Nord Stream 2. Russian President also informed that the construction of the pipeline will be delayed due to the sanctions. Pipe-laying vessel, Academic Cherskiy was bought by Gazprom to use if European companies denied service for Nord Stream 2.

China kickstarts operation of its longest ethane pipeline
Dec. 26, 2019

China kickstarts operation of its longest ethane pipeline

Chinese state-run CNPC has informed about kickstarting operations at its 371-kilometer-long Ethane pipeline. A statement on CNPC’s website read that the Xinjiang oilfield unit has delivered 500,000 cubic meters of ethane after commencing operations a week ago. The pipeline connects CNPC's gas field in Junggar Basin to Dushanzi petrochemical complex. The gas field in Junggar Basin has an annual ethane capacity at 38.5 million cubic meters.

Tallgrass Energy agrees to Blackstone’s new buyout deal
Dec. 18, 2019
Source: Reuters

Tallgrass Energy agrees to Blackstone’s new buyout deal

American pipeline operator, Tallgrass Energy yesterday informed about accepting Blackstone’s new buyout deal that values the company at approximately $6.3 billion. The fresh sweetened deal came after a dispute emerged over the original offer which gave Tallgrass executives a higher price for their shares than other holders. Tallgrass said that the transaction will come via $3 billion in equity and the remainder with debt.

Landmark pipeline kickstarts between Russia and China
Dec. 3, 2019
Source: Reuters

Landmark pipeline kickstarts between Russia and China

Russia and China, yesterday, kickstarted the 3,000-km-long Power of Siberia pipeline for the transportation of gas from Siberia to northeast China. The launch was overseen by Russian President Vladimir Putin and Chinese President Xi Jinping. The pipeline is being seen as an attempt to boost economic and political ties between Moscow and Beijing. The move will fortify China’s spot as Russia’s top export market.

Farmers petition against BPCL’s drone surveying
Oct. 22, 2019

Farmers petition against BPCL’s drone surveying

A group of farmers in Tamil Nadu has petitioned the state government against BPCL for conducting land surveys through drones without prior knowledge. A private consultancy utilized drone cameras to conduct survey in farmland for BPCL’s Irugur-Devangonthi Petroleum and Petroleum Product Pipeline (IDPL) on October 14. A senior official from BPCL acknowledged that the consultancy had deployed the drone cameras without the company’s knowledge.

Flooding forces TC Energy to shut pipeline, says traders
Sept. 20, 2019
Source: Reuters

Flooding forces TC Energy to shut pipeline, says traders

If sources were to be believed, TC Energy Corp’s Marketlink oil pipeline running from Oklahoma to Texas was shut on Thursday. The southeastern part of Texas took in heavy rains yesterday due to Tropical Depression Imelda. The 750,000 barrel-per-day (bpd) Marketlink pipeline links to the Nederland terminal. Phillips 66 was also forced to shut operations at its Beaumont Terminal in Nederland, Texas.

Energy Transfer to acquire SemGroup in $1.35 billion
Sept. 17, 2019
Source: Reuters

Energy Transfer to acquire SemGroup in $1.35 billion

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 challenge reduces Russia's control on Oman
Sept. 11, 2019
Source: World Oil

Poland challenge reduces Russia's control on Oman

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.

Mexico's President successfully resolves a prolonging dispute
Aug. 29, 2019

Mexico's President successfully resolves a prolonging dispute

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.

Pembina to acquire Kinder Morgan’s oil assets
Aug. 22, 2019
Source: Reuters

Pembina to acquire Kinder Morgan’s oil assets

Calgary-based Pembina Corp. has agreed to buy Kinder Morgan Canada and the U.S. division of the Cochin Pipeline system in a $3.27 billion deal. Pembina will acquire Kinder Morgan Canada in an all-stock deal, valuing the Canadian assets of the pipeline giant at about C$15.02 per share. This represented a premium of 36.8% to stock’s Tuesday close.

GAIL to devote Rs 45,000 cr for expansion of pipelines, city gas network
Aug. 21, 2019

GAIL to devote Rs 45,000 cr for expansion of pipelines, city gas network

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 might give control over oil input points to Transneft
Aug. 20, 2019

Russia might give control over oil input points to Transneft

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.

Explosion in Kentucky gas pipeline kills one
Aug. 2, 2019
Source: Reuters

Explosion in Kentucky gas pipeline kills one

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.

Kinder Morgan register profits in second quarter, but miss estimates
July 18, 2019
Source: Reuters

Kinder Morgan register profits in second quarter, but miss estimates

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.

Transneft agitated over Rosneft's unwillingness to resolve oil crisis
July 9, 2019

Transneft agitated over Rosneft's unwillingness to resolve oil crisis

The pipeline monopoly of Russia, Transneft slammed Rosneft on Monday. The company rebuked due to the disinterest shown by the oil producer to help resolve a contaminated oil crisis in the Russian Druzhba. On this, Rosneft said, "Instead of not so constructive comments, we'd like to see a clear and public plan of measures". This problem has tainted Russia's credibility as an energy supplier.

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