Post Tagged with: "midstream"

EnerCom Dallas – SitePro “A Digital Revolution” presentation by David Bateman, Co-CEO

EnerCom Dallas – SitePro “A Digital Revolution” presentation by David Bateman, Co-CEO

David Bateman, Co-CEO, presentation “A Digital Revolution” was live streamed, and the recorded presentation is below.  Investors in the Oil & Gas market are looking for faster returns. That means that CAPEX has to be cut and efficiencies put into the work place. SitePro has so many tools in the automation tool belt for water and oil field automation. They have great examples of savings from real customers in real world situations.   All of the presentations are live streamed, and Oil & Gas 360 will be publishing out on all of our channels. Stay tuned for some great information from our presenting companies.Full presentations are hosted at Enercomdallas.com. If you have any questions, please email [email protected] Oil & Gas Conference – DenverSAVE THE DATE: AUGUST 16 – 19, 2020THE WESTIN DENVER DOWNTOWN

DTE Energy to buy natural gas gathering system, pipeline for $2.25 billion

DTE Energy to buy natural gas gathering system, pipeline for $2.25 billion

Source: Reuters DTE Energy’s midstream business said on Friday it would buy a natural gas gathering system and pipeline in Louisiana’s Haynesville shale for $2.25 billion in cash. DTE Midstream will acquire the assets from Momentum Midstream and Indigo Natural Resources. DTE Energy has looked to expand into natural gas pipelines and storage, which provides steady cash flows even during energy price swings, at a time when advanced energy efficiency measures have made the provision of electricity less lucrative for companies such as DTE. The deal, which also includes a $400 million milestone payment upon completion of the gathering pipeline in the second half of 2020, will immediately add 15 cents to the company’s operating earnings per share in 2020. Reuters reported on Thursday, citing sources, that DTE was nearing a deal to buy a gas pipeline system.

October 18, 2019 - 8:15 am Closing Bell Story, Mergers & Acquisitions, Midstream
Canada’s Largest Oil Producer Joins Opposition to Enbridge Pipeline Plan

Canada’s Largest Oil Producer Joins Opposition to Enbridge Pipeline Plan

From Reuters Canadian Natural Resources Ltd, the country’s biggest oil producer, has joined a number of other firms asking Canada’s energy regulator to intervene in Enbridge Inc’s plan to overhaul shipping contracts on its Mainline pipeline network. Canadian Natural’s letter to the National Energy Board (NEB), filed late on Monday, calls on the regulator to delay Enbridge’s proposal to switch to long-term, fixed-volume contracts on 90% of the Mainline. ConocoPhillips Canada, a unit of the U.S. oil major, also wrote to the NEB on Monday asking for the process to be delayed because of the “avoidable uncertainty” it created for Canadian producers. Suncor Energy Inc, MEG Energy Corp, Royal Dutch Shell Plc, Japan Canada Oil Sands Ltd (JACOS) and the Explorers and Producers Association of Canada previously wrote to the regulator expressing concerns about the planned changes. Enbridge launched a two-month open season on Aug. 2 to solicit bids for[Read More…]

Source: CatholicVoices.org

Mexico Expects to Save $4.5 Billion After Pushing Firms to Rework Pipeline Contracts

From Reuters Mexico’s government said on Tuesday it had persuaded companies to waive “significant” profits from natural gas pipeline deals signed under the previous administration after renegotiating the contracts to save taxpayers $4.5 billion. The deal announced by President Andres Manuel Lopez Obrador and the head of state-run power utility the Federal Electricity Commission (CFE) at a news conference will reduce what Mexico pays the firms to transport natural gas, the government said. The months-long dispute has caused diplomatic frictions with Canada in particular, aggravating concerns that Lopez Obrador, a veteran leftist who took office in December, could call into question contracts signed before he assumed the presidency. Flanked by Mexican industry leaders, including billionaire Carlos Slim, the country’s richest man, Mexico’s president championed the deal as a win for the public which would give certainty to investors and encourage growth. “To be very clear, we won because the rates[Read More…]

Enerflex Appoints New CFO, General Counsel

Enerflex Appoints New CFO, General Counsel

By Tyler Losier, Energy Reporter, Oil & Gas 360 Enerflex names Sanjay Bishnoi as senior vice president and CFO, David Izett as senior vice president and general counsel Enerflex Ltd. (stock ticker: ENRFF), a Calgary-based oilfield service company, has appointed Sanjay Bishnoi as senior vice president and chief financial officer, and David H. Izett as senior vice president and general counsel, effective September 9, 2019. Bishnoi, a proven CFO with more than 20 years of financial leadership experience in the energy and professional services sectors, will be responsible for leading Enerflex’s finance, treasury, corporate development, capital markets, enterprise risk management, internal audit and investor relations functions. I… Login or click here to subscribe Username or E-mail Password Remember Me     Forgot Password

Casillas Petroleum Resource Partners and Energy Water Services Form New Midstream Company

Casillas Petroleum Resource Partners and Energy Water Services Form New Midstream Company

By Tyler Losier, Energy Reporter, Oil & Gas 360 Casillas Petroleum Resource Partners and Energy Water Services team up to form Woody Creek Midstream Casillas Petroleum Resource Partners LLC, a portfolio company of Kayne Anderson Energy Funds, and Energy Water Services LLC, a water infrastructure company owned by Halmos Capital Partners, have entered into a partnership in order to jointly form Woody Creek Midstream, which will focus on providing water management services to producers in the SCOOP. Consequently, Woody Creek has begun construction on more than 25 miles of wastewater gathering pipeline in Garvin and McClain counties, Oklahoma. Once the infrastructure is completed in the fourth quarter of 2019, the system will con… Login or click here to subscribe

Source: CatholicVoices.org

Mexican President Pushes Hopes for Pipeline Deal into Next Week

From Reuters Mexican President Andres Manuel Lopez Obrador said on Thursday a deal could be reached next week with companies to end a contractual dispute over several natural gas pipelines, dialing back hopes for a quicker resolution. “It’s going well, that business,” Lopez Obrador told reporters at his regular morning news conference after the latest round of talks with companies on Wednesday. “And I expect that next week a deal will be reached.” The dispute over contracts signed under the last government involves firms including Canada’s TC Energy Corp, Mexico’s Grupo Carso, a company controlled by billionaire Carlos Slim, and IEnova, a Mexican unit of U.S. business Sempra Energy . Earlier this week, Lopez Obrador said an agreement might be possible as soon as this Thursday on the dispute, which has caused diplomatic tension with Canada in particular.     State-run power utility the Federal Electricity Commission (CFE) has driven[Read More…]

Source: Pembina Pipeline Corporation

Pembina to Acquire Kinder Morgan Canada and Cochin Pipeline for CAD $4.35 Billion

By Tyler Losier, Energy Reporter, Oil & Gas 360 Pembina Pipeline Corporation will purchase Kinder Morgan Canada and U.S. portion of Cochin Pipeline for CAD $4.35 billion Pembina Pipeline Corporation (stock ticker: PBA), a midstream service provider based out of Calgary, has entered into agreements to acquire Kinder Morgan Canada Limited (stock ticker: KMLGF) and the U.S. portion of the Cochin Pipeline system from Kinder Morgan Inc. (stock ticker: KMI) for a total purchase price of CAD $4.35 billion. The transaction values Kinder Morgan Canada at approximately CAD $2.3 billion, or CAD $15.02 per share, and the Cochin Pipeline at CAD $2.05 billion for cash consideration. As a result of the deal, Pembina’s board of directors has… Login or click here to subscribe

MEG Energy Clashes with Enbridge Over Sweeping Changes to Mainline Pipeline

MEG Energy Clashes with Enbridge Over Sweeping Changes to Mainline Pipeline

From The Calgary Herald A war of words between oil companies and their main pipeline provider Enbridge Inc. is expected to break out amid sweeping changes to Canada’s biggest oil export pipeline network at a time of tight takeaway capacity. On Aug. 16, MEG Energy Corp. president and CEO Derek Evans wrote a letter to the National Energy Board, Canada’s pipeline regulator, to express his opposition to Enbridge’s call for contracts on the Mainline pipeline network, which is Canada’s largest oil pipeline system. “It is MEG’s position that Enbridge’s contract carriage proposal should be abandoned, as it is not in the overall public interest,” Evans wrote. MEG opposes Enbridge’s call for contracts because it comes as pipeline space is scarce and comes at a premium in Canada, where total oil production currently outstrips pipeline export capacity. At a minimum, Evans said the contracting of the Mainline should be delayed “until[Read More…]

Kayne Anderson Makes $100 Million Upstream Investment

Kayne Anderson Makes $100 Million Upstream Investment

By Tyler Losier, Energy Reporter, Oil & Gas 360 Kayne Anderson Energy Fund VIII invests $100 million in newly-formed Indianola Energy Kayne Anderson Capital Advisors LP, through its Kayne Anderson Energy Fund VIII LP, has made a $100 million equity commitment in order to form Indianola Energy LLC, an upstream entity that will purse the acquisition and development of highly-proven resource plays across North America. The newly-created company will be led by energy sector veterans Chapman Amend and Todd Burgamy. “We are excited to partner with Kayne Anderson to deploy our strategy, which is centered on operations and execution capabilities,” Amend said. “As the market has shifted to placing a preference on living within cash… Login or click here to subscribe

Lotus Midstream Mulls Reversing West Texas to Cushing Pipeline – Sources

Lotus Midstream Mulls Reversing West Texas to Cushing Pipeline – Sources

From Reuters Pipeline operator Lotus Midstream LLC may reverse flows on a line now sending crude from West Texas to Cushing, Oklahoma, the main hub for pricing U.S. crude futures, three people familiar with the matter said on Tuesday, an unusual move that could lift U.S. benchmark prices by draining supplies. Reversing the flow on a portion of Lotus’s Centurion pipeline would send oil on a circuitous route from the country’s main storage hub at Cushing to the its top shale field in West Texas and then via new pipelines into Gulf Coast export hubs, they said. But with the operators of the new pipelines offering discounted prices to attract shippers and as oil in West Texas fetching higher prices than in Cushing, the reversal would be lucrative for shippers, traders and analysts said. “Centurion is always evaluating the best ways to serve its shippers,” said Lotus spokeswoman Casey Nikoloric,[Read More…]

August 20, 2019 - 6:01 am Closing Bell Story, Crude Oil News, Energy News, Midstream
U.S. Oil Firms Challenge Pipeline Surcharge for Steel Tariff: Filing

U.S. Oil Firms Challenge Pipeline Surcharge for Steel Tariff: Filing

From Reuters Two U.S. shale producers have challenged an energy pipeline operator’s proposed surcharge for the Trump administration’s 25% tariff on imported steel, raising the stakes for pipeline builders facing higher construction costs. The United States imposed tariffs on imported steel and aluminum last year to shield U.S. producers from overseas competition. U.S. energy industry trade groups have warned the tariffs could raise costs for companies and consumers. U.S. oil producer ConocoPhillips (COP.N) and a unit of Canadian producer Encana Corp (ECA.TO) on Monday asked the Federal Energy Regulatory Commission to reject Plains All American Pipeline’s (PAA.N) proposed tariff surcharge on its Cactus II oil pipeline, according to a regulatory filing. Houston-based Plains this month proposed charging shippers a 5 cents per barrel fee on its 670,000 barrel-per-day (bpd) Cactus II pipeline next April to offset higher construction costs due to the steel tariffs. ConocoPhillips, Encana and Plains did not[Read More…]

Source: EPIC Midstream

EPIC Pipeline Makes First Crude Delivery to Corpus Christi

By Tyler Losier, Energy Reporter, Oil & Gas 360 EPIC Y-Grade pipeline begins delivering crude to various terminals in Corpus Christi and Ingleside, Texas EPIC Midstream LLC, through EPIC Crude Holdings LP, has begun interim crude service on its 24” EPIC Y-Grade pipeline, a system that transports oil from Crane, Texas to various terminals and refiners in Corpus Christi and Ingleside, Texas. During this interim period, EPIC has the ability to deliver up to 400,000 BOPD to customers in the region. The company will reserve 10% of the pipeline’s capacity for walk-up shippers. A map of what EPIC’s pipeline projects will look like upon completion (source: EPIC Midstream) “Providing interim service adds much-needed takeaway cap… Login or click here to subscribe

Source: Elevate Midstream Partners

Tailwater-Backed Elevate Midstream Enters into Eight Year Agreement with Sabine Oil and Gas

By Tyler Losier, Energy Reporter, Oil & Gas 360 Elevate Midstream Partners enters into eight year gathering and treating agreement with Sabine Oil and Gas Elevate Midstream Partners LLC, a private company based out of Houston, has entered into an eight-year gas gathering and treating agreement with Sabine Oil and Gas Corporation, an independent E&P operating exclusively in Texas. The transaction is being completed in partnership with Tailwater Capital, an energy-focused private equity firm based in Dallas, and Elevate’s financial sponsor. To carry out this new agreement, Elevate will build approximately 19 miles of 16-inch gas gathering pipelines, in addition to associated laterals. The project will include amine, dehy… Login or click here to subscribe

Source: Crestwood Equity Partners

Crestwood Bolsters its Midstream Assets in the Bakken

By Tyler Losier, Energy Reporter, Oil & Gas 360 Commercial operations begin at the Bear Den II processing plant Crestwood Equity Partners LP (stock ticker: CEQP), a Houston-based master limited partnership, has begun commercial operations at its Bear Den II processing plant in Watford City, North Dakota. The Bear Den II facility is a 120 million cubic feet per day cryogenic processing plant located adjacent to Crestwood’s 30 million cubic feet per day Bear Den I plant, which has been in service since 2018. Bear Den II, still in its start-up phase, is currently producing approximately 65 million cubic feet per day. Once it reaches full capacity, Crestwood expects the facility to be able to support 100% of the gas volumes f… Login or click here to subscribe

Source: Summit Midstream Partners LP

Summit Midstream Appoints New President and CEO

By Tyler Losier, Energy Reporter, Oil & Gas 360 Summit Midstream Partners appoints J. Heath Deneke as president, CEO and board member Summit Midstream Partners LP (stock ticker: SMLP), a master limited partnership located in The Woodlands, Texas, has appointed J. Heath Deneke to serve as its president and chief executive officer, effective September 16, 2019. Deneke was also nominated to serve on the board of directors for Summit Midstream GP LLC, the general partner of Summit Midstream Partners LP. He will replace Leonard Mallett, who has been serving as interim president and CEO for Summit since February 2019. Mallet will stay on as Summit’s chief operations officer, and will report to Deneke directly. “I am excited t… Login or click here to subscribe

New U.S. Pipelines Poised to Start Price War for Shale Shippers

New U.S. Pipelines Poised to Start Price War for Shale Shippers

From Reuters The operators of two new pipelines in West Texas shale fields are offering discounted prices to attract shippers accustomed to high fees to move oil to export hubs, according to the pipeline companies and federal filings. These bargain rates, in one case half the initial published rate, will aid strapped oil producers that once had to sell their oil for about $10 less per barrel because of transport constraints to move their oil from the largest shale oil field in the country. But pipeline companies, which have in the past year raced to add new capacity to flow oil from the Permian Basin to the refining and export hub on U.S. Gulf Coast, will face pressure to cut rates in coming weeks, said oil traders and analysts. The two operators – EPIC Midstream and Plains All American (PAA.N) – are opening lines that combined will in coming months[Read More…]

Source: NGL Energy Partners

NGL Energy Partners Makes $300 Million Divestiture

By Tyler Losier, Energy Reporter, Oil & Gas 360 NGL Energy Partners sells TransMontaigne Product Services for $300 million NGL Energy Partners LP (stock ticker: NGL), a vertically integrated midstream company, has signed a definitive agreement to sell TransMontaigne Product Services and its associated assets to an undisclosed buyer for approximately $300 million. Proceeds from the transaction will be used to reduce outstanding indebtedness under NGL’s revolving credit facility. Additionally, the partnership expects to significantly reduce letter of credit commitments following the sale of TransMontaigne, an entity that makes up a portion of NGL’s refined products reporting segment. TransMontaigne’s asset base (source: Tran… Login or click here to subscribe

Source: Oryx Midstream Services

Oryx Midstream Lands $550 Million from Qatar Investment Authority

By Tyler Losier, Energy Reporter, Oil & Gas 360 Qatar Investment Authority acquires significant stake in Oryx Midstream Services from an affiliate of Stonepeak Infrastructure Partners Qatar Investment Authority (QIA), the country’s sovereign wealth fund, will be acquiring a significant interest in Permian crude operator Oryx Midstream Services from an affiliate of Stonepeak Infrastructure Partners, in addition to chipping in a total investment of approximately $550 to help with Oryx’s development. The partnership between the two companies comes as a part of QIA’s ongoing initiative to increase its investments in the U.S. to $45 billion in the coming years. The Oryx system, which transports crude to market hubs on the Gulf … Login or click here to subscribe

Source: Caliber Midstream

Caliber Midstream Makes North Dakota Acquisition

By Tyler Losier, Energy Reporter, Oil & Gas 360 Caliber Midstream acquires North Dakota assets from American Midstream Partners Caliber Midstream Holdings L.P., headquartered in Denver, Colorado, has acquired crude oil gathering and transportation assets in McKenzie county, North Dakota from American Midstream Partners L.P. The acquired assets include a FERC-regulated system comprised of 47 miles worth of pipeline and related facilities, able to transport crude oil to the Tesoro High Plains pipeline and the Energy Transfer Dakota Access pipeline. With the addition of these acquisitions, Caliber now owns and operates 368 miles of pipeline across four service lines in McKenzie county, with 11 more miles on the way by year’s end… Login or click here to subscribe

Black Bear Midstream Enters into Gas Gathering and Processing Agreement

Black Bear Midstream Enters into Gas Gathering and Processing Agreement

By Tyler Losier, Energy Reporter, Oil & Gas 360 Black Bear Midstream enters into seven-year agreement with undisclosed Cotton Valley producer Black Bear Midstream, a portfolio company of Oaktree Capital Management (stock ticker: OAK), has entered into a seven-year gas gathering and processing agreement with an undisclosed Cotton Valley producer in Desoto Parish and Caddo Parish, Louisiana. To support both this contract and other producers on either side of the Louisiana and Texas border, Black Bear will be building approximately 20 miles worth of 16-inch rich gas gathering pipelines to the west of its DeSoto Parish cryogenic processing plant. Black Bear Midstream’s current asset portfolio (source: Black Bear Midstream) … Login or click here to subscribe

Source: Salt Creek Midstream

Salt Creek Midstream Subsidiary Announces Open Season in the Delaware

By Tyler Losier, Energy Reporter, Oil & Gas 360 SCM Crude LLC to solicit binding commitments for interstate gathering and transportation SCM Crude LLC, a wholly-owned subsidiary of Salt Creek Midstream LLC, will begin to solicit binding commitments for priority crude oil interstate gathering and transportation services as part of an open season for its Delaware Basin midstream infrastructure. The project will be constructed and operated by SCM. It will transport hydrocarbons from tank battery receipt points in Eddy and Lea counties, New Mexico, to SCM’s Wink and Orla terminals, with interconnects to certain takeaway pipelines, including direct, long-haul transportation to the Midland and Corpus Christi, Texas areas. Source… Login or click here to subscribe

Source: CSV Midstream Solutions

Paramount Resources Closes Sale of Karr 6-18 Nat Gas Facility

By Tyler Losier, Energy Reporter, Oil & Gas 360 Paramount Resources completes divestiture of its Karr 6-18 facility to CSV Midstream Solutions Paramount Resources Limited, a liquids-focused independent E&P based in Calgary, has completed the sale of its Karr 6-18 natural gas facility to CSV Midstream Solutions for a total of approximately $470 million. The consideration includes approximately $330 million in cash, plus $140 million in capital commitments to fund and complete a planned expansion of the facility. Proceeds from the transaction will be used by Paramount to reduce amounts drawn on the company’s $1.5 billion bank credit facility, which totaled $827.3 million as at March 31, 2019.   The Karr 6-18 natu… Login or click here to subscribe

Photo by Mike Goldwater"

UGI Subsidiary Closes on Columbia Midstream Deal

By Tyler Losier, Energy Reporter, Oil & Gas 360 UGI Energy Services completes acquisition of TC Energy subsidiary Columbia Midstream UGI Energy Services LLC, a subsidiary of UGI Corporation (stock ticker: UGI), has completed its previously announced acquisition of the equity interests of Columbia Midstream Group, a subsidiary of TC Energy Corporation (stock ticker: TRP), for approximately $1.275 billion. The deal originated in the beginning of this July, and includes five gathering systems with a capacity of roughly 2,675,000 MMBtu per day, as well as 240 miles of pipeline, located in the southwestern region of the Appalachian Basin. Source: Columbia Midstream “We are pleased to complete this important acquisition that … Login or click here to subscribe

Source: Enbridge Inc.

Enbridge Holds Open Season for Canadian Mainline Pipeline

By Tyler Losier, Energy Reporter, Oil & Gas 360 Enbridge seeks up to 20-year contracts for transportation services on its Canadian Mainline pipeline system  Enbridge Inc. (stock ticker: ENB), an energy infrastructure company headquartered in Calgary, will be holding an open season for transportation services on its Canadian Mainline pipeline system. As of right now, 100% of the Mainline’s capacity is available on an uncommitted basis; however Enbridge will look to alter this model moving forward. Source: Enbridge Inc. The competitive tolling settlement (CTS) that currently governs how transportation is available to shippers is set to expire on June 30, 2021. Once it expires, Enbridge will seek to fill 90% of its capacit… Login or click here to subscribe

Source: Solaris Water Midstream

Concho Resources and Solaris Water Form JV in the Delaware Basin

By Tyler Losier, Energy Reporter, Oil & Gas 360 Concho Resources and Solaris Water Midstream team up for produced water management in the northern Delaware Basin Concho Resources (stock ticker: CXO), a Permian-focused unconventional shale producer, has formed a strategic joint venture (JV) with Solaris Water Midstream, a wholly-owned subsidiary of Solaris Midstream Holdings LLC. The partnership between the two companies focuses on optimizing produced water logistics at scale in the northern Delaware Basin. As part of the agreement, Solaris Water will manage Concho’s produced water gathering, transportation, disposal and recycling for an area covering approximately 1.6 million acres located primarily in Eddy county, New Mexico… Login or click here to subscribe

Toronto's Portlands Energy Centre (source: CNW Group/Ontario Power Generation Inc.)

TC Energy to Sell Ontario Natural Gas-Fired Power Plants for US $2.18 Billion

By Tyler Losier, Energy Reporter, Oil & Gas 360 TC Energy to sell three natural gas-fired power plants to Ontario Power Generation subsidiary for USD $2.18 billion TC Energy Corporation (stock ticker: TRP), an energy infrastructure company based out of Calgary, has entered into an agreement through its wholly-owned subsidiary, TransCanada Energy Limited, to sell interests in three Ontario natural-gas fired power plants to a subsidiary of Ontario Power Generation Inc. (OPG) for approximately USD $2.18 billion (CAD $2.87 billion). The facilities being sold include the 683-megawatt Halton Hills power plant, the 900-megawatt Napanee generating station, which is nearing completion, and TC Energy’s 50% stake in the 550-megawatt Por… Login or click here to subscribe

Source: Goodnight Midstream

Altus Midstream Acquires Stake in Shin Oak Pipeline

By Tyler Losier, Energy Reporter, Oil & Gas 360 Altus Midstream closes purchase of 33% equity stake in Enterprise-owned Shin Oak Pipeline Altus Midstream (stock ticker: ALTM), a pure-play Permian-to-Gulf Coast midstream company, has closed a deal with Enterprise Products Partners (stock ticker: EPD) to acquire a 33% equity interest in the Enterprise subsidiary that owns the Shin Oak natural gas liquids (NGL) pipeline, effective July 31. The Shin Oak pipeline, which runs 658 miles, transports NGLs from multiple basins, including the Permian, to Enterprise’s NGL fractionation and storage complex in Mont Belvieu, Texas. The NGLs that flow through the pipeline are predominantly sourced from Enterprise’s Orla natural gas processin… Login or click here to subscribe

Source: Lagoon Water Solutions

Continental Resources Divests STACK Water Handling Facility

By Tyler Losier, Energy Reporter, Oil & Gas 360 Continental Resources sells STACK water handling facility to Lagoon Water Solutions for $85 million Continental Resources (stock ticker: CLR), an Oklahoma City-based independent E&P, is selling its eastern STACK water gathering and recycling system in Blaine county, Oklahoma to Lagoon Water Solutions for $85 million. In conjunction with the divestiture, Continental has also entered into a long-term agreement with Lagoon, in which the latter will provide water sourcing, gathering and disposal services for any of Continental’s future developments in the area. “The divestiture of this water handling facility for $85 million underscores Continental’s ability to innovatively g… Login or click here to subscribe

Source: Abu Dhabi National Oil Company

Singapore’s Sovereign Wealth Fund Joins KKR and BlackRock in Abu Dhabi Pipeline Investment

By Tyler Losier, Energy Reporter, Oil & Gas 360 Combined investment in Abu Dhabi National Oil Company’s pipeline project reaches almost $5 billion Source: Abu Dhabi National Oil Company Singapore’s sovereign wealth fund, GIC, has entered into an agreement with the Abu Dhabi National Oil Company (ADNOC) to contribute $600 million towards crude pipeline infrastructure, joining other prominent investors such as BlackRock (stock ticker: BLK), KKR, and the Abu Dhabi Retirement Pensions and Benefits Fund (ADRPBF). The deal is expected to close before the end of the year, subject to customary closing conditions and regulatory approval. In total, the collection of companies has committed $4.9 billion in capital to date towards … Login or click here to subscribe