By Tyler Losier, Energy Reporter, Oil & Gas 360 Summit Midstream to proceed with Double E pipeline project Summit Midstream Partners (stock ticker: SMLP) has made a final investment decision to proceed with its Double E pipeline project, after having secured sufficient commitments pursuant to binding precedent agreements for long-term, firm transportation service. The company also executed a definitive joint
From Bloomberg For companies that haul oil and natural gas, the next big thing may be dirty water, according to Jefferies Group LLC. As booming U.S. oil production unleashes a torrent of contaminated water that rises to the surface with crude, pipeline operators may be in the best position to harness those flows and expand into the water-handling business, said
Bill as is could kill investment – no future pipelines would be built From the Calgary Herald After it was announced Wednesday that the federal Liberal government would not accept all 188 amendments to the disastrous Impact Assessment Act, or Bill C-69, as recommended by the Senate of Canada, Environment Minister Catherine McKenna thought that in case the sector driving
From Bloomberg Ozark pipeline out of Cushing storage hub was shut last week, futures still down on talk of China rare-earths restrictions Oil pared losses after hitting the lowest level since March as a pipeline that drains crude from the key Cushing, Oklahoma, supply hub was said to be ready to restart Thursday. Futures closed the trading session down 0.6%
Trans Mountain Expansion gets boost from British Columbia top appeals court ruling; could go to Supreme Court of Canada next Trudeau government pledged to buy Trans Mountain Expansion project from Kinder Morgan for $4.2 billion – has to make decision to proceed with purchase, or not, by June 18 From BNN Bloomberg British Columbia’s top appeals court ruled that the
From Bloomberg IFM Global Infrastructure Fund agreed to acquire Buckeye Partners LP, a U.S. owner and operator of oil pipelines and terminals on the East Coast and Gulf Coast, for $6.5 billion. The Australian fund said Friday it will pay $41.50 for each unit of Houston-based Buckeye, a master limited partnership that has 6,000 miles of pipeline and associated tanks and terminals.
From Reuters Energy Transfer Partners LP will no longer pursue the Permian Gulf Coast (PGC) pipeline as it was initially announced, but will evaluate participating in other projects to transport crude from the largest U.S. oil field, company Chief Financial Officer Thomas Long said on Thursday. One of Energy Transfer’s partners in the PGC pipeline, Magellan Midstream Partners LP, said
Forced to sell to U.S. at a $26.50 per barrel discount to WTI Lack of pipeline capacity is driving down the price of Canadian oil, costing the country’s energy sector C$20.6 billion in lost revenues last year, Canadian public policy think-tank Fraser Institute calculates in a new study. “Without sufficient pipelines to coastal ports, Canadian oil producers must sell their
From Reuters Kinder Morgan Inc has begun internal discussions about building a third natural gas pipeline in the Permian Basin as demand for gas takeaway capacity continues to surge, Chief Executive Officer Steven Kean told investors on Wednesday. As natural gas production has outpaced pipeline capacity in the Permian Basin, a gas glut has led to plummeting prices in the
From Bloomberg Alberta’s incoming premier is already fighting pipeline law changes that are in the offing. Jason Kenney’s conservative party swept to power Tuesday in Canada’s oil heartland after a campaign in which he regularly took aim at Prime Minister Justin Trudeau. In his victory speech, Kenney also criticized Trudeau for “imposing new laws that will make it impossible to
From Reuters U.S. energy regulators on Thursday approved the rate structure and terms of service for EPIC Crude Pipeline LP’s new 900,000 barrels per day (bpd) line from the Permian basin to Corpus Christi, Texas, subject to some conditions. EPIC plans to provide interim service by mid-2019 and place the line into service during the fourth quarter, according to a
From the Associated Press WASHINGTON (AP) — President Donald Trump will announce an executive order during a trip to Texas on Wednesday that could make it harder for states to scuttle pipelines and other energy projects based on concerns about their impact on water quality. Trump has made it a priority to expand energy development in the United States, in
