Midstream – Page 3 – Oil & Gas 360

Trans Mountain oil pipeline just shy of target for first-month loadings

July 1, 2024

BOE Report About 20 ships loaded crude oil on Canada’s West Coast in the first full month of operation on the newly expanded Trans Mountain pipeline, according to vessel-tracking data on Sunday, slightly below the operator’s forecast. Loadings from the pipeline expansion are closely watched because the Canadian government wants to sell the $24.84 billion (C$34 billion) line. Questions about

Trans Mountain oil pipeline will rely on spot shipments to turn a profit

June 27, 2024

Oil Price The expanded Trans Mountain oil pipeline will rely on spot customers to see a positive equity return or return on capital in 2026, according to company filings with Canadian regulators reviewed by Reuters. The expanded Trans Mountain pipeline is tripling the capacity of the original pipeline to 890,000 barrels per day (bpd) from 300,000 bpd to carry crude from

Mountain Valley gets regulator’s approval for US natural gas pipeline

June 12, 2024

Reuters Mountain Valley can begin operating its $7.85 billion Virginia natural gas pipeline after receiving approval from the U.S. Federal Energy Regulatory Commission (FERC) according to a filing on Tuesday. The Mountain Valley project, the only big gas pipeline under construction in the U.S. Northeast, has encountered numerous regulatory and court fights that have stopped work several times since construction

The pipeline project preparing for Canada’s largest ever corporate bond deal

May 31, 2024

Oil Price In a landmark move for the Canadian financial markets, Coastal GasLink LP, partially owned by KKR & Co., is set to initiate the largest corporate bond deal in Canada’s history. The pipeline project, located in Western Canada, is preparing to issue up to C$4 billion ($2.9 billion) in bonds to refinance its existing construction debt. This unprecedented offering

TC Energy’s oil pipeline spin-off faces obstacles in bet on US Gulf

May 8, 2024

Yahoo Finance WINNIPEG, Manitoba – TC Energy’s planned oil pipeline spin-off is a bet that it can supply more Canadian crude to U.S. Gulf of Mexico refiners, but the venture faces stiff competition and will carry high debt when it starts up. The South Bow spin-off, which TC investors will vote on June 4, will help Calgary, Alberta-based TC lower

Oil firms doubtful Trans Mountain Pipeline will start full service by May 1st

April 24, 2024

Oil Price Oil companies planning to ship crude on the expanded Trans Mountain pipeline in Canada are concerned that the project may not begin full service on May 1 but they would be nevertheless obligated to pay tolls from that date. In a letter to the Canada Energy Regulator (CER), Suncor Energy and other shippers including BP and Marathon Petroleum

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

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