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An oil and gas pipeline welding company Pipeline Technique has been bought by a private-equity firm Blue Water Energy (BWE). BWE has bought this Huntly-headquartered company from Dutch business Heerema Marine Contractors (HMC). The exact value of the deal has been kept undisclosed. BWE informed that the management team of Pipeline Technique will be retained.
The industry group of Germany, MWV said that presently they are not facing any shortage of gasoline or diesel due to contaminated crude oil on Russia's Druzhba pipeline. But the company has warned of future challenges if improvements do not occur. Pertaining to the above reason, Russia temporarily stopped the oil flows last month which resulted in the rise in global prices.
Saudi Aramco has raised a concern that its oil infrastructure sites have been targeted and at least one has been attacked by drone strikes. One of Aramco's pumping station on the Red Sea was targeted by drones due to which fire broke out along the pipeline. The energy supermajor has temporarily halted pumping petroleum through the pipeline until the completion of the inspection.
According to the sources, the vessel Israfil Huseynov operated by Saipem in the Caspian Sea met with an accident on Wednesday. An explosion occurred on the vessel which was being used for pipelaying for the framework of the Shah Deniz II project. The count of casualties is 14. The accident was due to the maintenance operations on an item of equipment during pipe-laying activities.
Nord Stream 2, Russian-led gas pipeline might save EU about $8 billion annually which is due to the 13% drop in the costs. “If the pipeline is completed by the end of 2019 and is launched in 2020, European families will get access to natural gas at a lower cost price, and will save eight billion euro annually,” said the Nord Stream 2 AG’s press office.
In an effort to cope up with the objections posed by the US and other European countries, the developers of natural gas pipeline from Russia to Germany have applied for a third alternative route. This route is from the south of Denmark's Baltic Sea island of Bornholm. The Danish Energy Agency has informed that Nord Stream 2 has applied for an alternative route which includes Denmark's exclusive economic zone.
Petrobras has sold its 90% stakes in the gas pipeline to Engie SA and Caisse de Depot et Placement du Quebec for $8.6 billion. These companies survived multiple rounds of bidding for the unit which is known as TAG. Also, this is said to be the biggest-ever single asset sale for the company. TAG operates 4,500 km pipeline network which is spread across 10 states in northern Brazil.
Bulgarian state network operator, Bulgartransgaz yesterday said that a tender for building the natural gas pipeline across Bulgaria was awarded to a consortium led by Saudi’s Arkad Engineering. The consortium, which includes the joint venture between Arkad and ABB, offered to construct the 474-km pipeline by the end of 2020 for $1.24 billion. The offer also included another option of completing the pipeline in 8 months for 1.29 billion euros.
The Danish Energy Agency has created a hurdle for the Nord Stream 2 pipeline project by demanding an environmental assessment of its third route option. Nord Stream 2 is a 1,225 km under-construction pipeline which will increase the reliance of European Union on Russian gas. It is an 11 billion euro project which has been approved by Finland, Sweden, Germany and Russia, while Denmark has held out.
Wood has won a contract in the United States for the construction of a natural gas pipeline. The contract is worth £26million. Under the work scope, the company will construct a 28-mile pipeline which will carry gas from Pennsylvania to Ohio. Wood’s CEO of Asset Solutions Americas said, "We’re delighted to be playing a key role in this strategic project".
According to the sources, Chevron has closed some of its oil production facilities in the Gulf of Mexico. Chevron has taken this step after the operator, Shell Pipeline Company shut down its almost 350,000 bpd Amberjack pipeline system. Amberjack connects the fields of the Gulf of Mexico to the Texas and Louisiana Gulf Coast refiners. The facilities shut down by Chevron include Jack/St. Malo, Tahiti, Big Foot and Genesis.
UAE state-owned Abu Dhabi National Oil Corporation (ADNOC) has entered into a definitive agreement with U.S. investment firms KKR and BlackRock. The $4 billion midstream pipeline infrastructure deal is expected to close in 3Q2019. While the consortium of KKR and BlackRock will own 40% stakes in the entity, ADNOC will own the rest. ADNOC will also hold sovereignty over the pipelines and management of operations.
Amidst the ongoing debate on Nord Stream 2 pipeline, the European Union's main institutions have agreed on a tentative deal. This deal will increase the bloc's role in managing a pipeline from Russia to Germany. EU's Energy Commissioner has declared "that everyone interested in selling gas to Europe must respect European energy law." However, US has declared Nord Stream as a threat to Europe's energy security.
OMV has announced that the company will export gas which will compete on price, firmly rejecting US’ criticism over Nord Stream 2. The Austrian energy company is the stakeholder in the planned Nord Stream 2 pipeline to Germany. OMV’s CEO said “If the U.S. were to offer competitively priced liquefied natural gas (LNG) in Europe, they need not worry about the prospect of supply from NS 2 gas”.
An explosion in a ruptured pipeline burnt many people trying to fill containers with fuel in central Mexico yesterday. Television footage showed flames blazing from the burning pipeline in the municipality of Tlahuelilpan. State governor Omar Fayad denied knowledge of any deaths, but said that he had received reports that “many people” suffered burn injuries in the explosion.
GAIL awarded a pipe laying contract worth Rs 270 crore to IL&FS last year but is planning to terminate that contract. This is because the financially-troubled contractor is delaying the project. According to the source “Due to its financial crisis, IL&FS is unable to pay its subcontractors and suppliers. So, these sub-contractors have stopped working and vendors have stopped supplies.” This 2,655 km pipeline is called Pradhan Mnatri Urja Ganga.
Energy services firm, Wood Plc has secured a $43 million contract to build an 80 mile-long steel pipeline in West Texas. The Aberdeen-based company informed that the pipeline would be used to transport natural gas liquids (NGL) across Texas. Wood said that the contract award reinforced its position as a "major midstream player". Wood secured three contracts last month to assist the onshore oilfields development in the UAE.
India-based Great Eastern Energy Corp (GEECL) is planning to put in approximately $2 billion to exploit shale gas reserves in West Bengal’s Raniganj block. The company is looking to begin the initial exploration work of drilling core wells in 2019. GEECL has reached an initial understanding with state-owned GAIL (India) for an offtake or a transmission agreement through the upcoming Jagdishpur-Haldia & Bokaro-Dhamra pipeline.