Tag Archives: Pipeline News

Texas May Stiffen Penalties for Pipeline Damage

AUSTIN, Texas (AP) — Lawmakers in Texas are considering a bill that would stiffen penalties for damaging or trespassing around oil and gas operations despite opposition from environmental groups who say it would quell peaceful protests and overly criminalize offenses. Environmental activists and oil and gas lobbyists returned to the Texas capital on Wednesday to go head-to-head over the bill at a public hearing. There, they clashed over its necessity and whether the bill would suppress Texans’ right to legally protest pipeline projects. The effort comes as states around the country have introduced similar measures […]

Bulgaria Builds Gas Link to End Full Reliance on Russian Gas

Bulgaria started building a $268 million (240 million euro) gas pipeline with Greece that will end the Balkan country’s total dependence on Russian gas and help diversify supplies in southeastern Europe. Sofia, which currently meets all of its gas needs from Russia via one route, pledged to start building gas links with its neighbors and diversify its suppliers in 2009, when a price dispute between Moscow and Kiev left hundreds of Bulgarians without heating in the middle of winter. After years of delays, a 113-mile (182-km) interconnector link between Bulgaria and Greece with an initial […]

New York Regulators Deny Permit for Key Gas Pipeline

ALBANY, N.Y. (AP) – State environmental regulators denied a water quality permit for a 24-mile (39-kilometer) underwater pipeline from New Jersey to Queens that backers say is crucial for meeting rising demand for natural gas in New York City and Long Island. The Northeast Supply Enhancement project would expand the Transco pipeline, which extends from Texas to the Northeast Coast. It would allow National Grid to bring natural gas from Pennsylvania’s shale gas fields to the metropolitan region. In denying the permit, the state Department of Environmental Conservation (DEC) said the project “fails to meet […]

Armed Drones Attack Oil Pumping Stations on Saudi Pipeline

RIYADH/DUBAI (Reuters) – Saudi Arabia said armed drones had struck two oil pumping stations on a pipeline Tuesday in what it called a “cowardly” act of terrorism two days after Saudi oil tankers were sabotaged off the coast of the United Arab Emirates. The energy minister of the world’s largest oil exporter said the attack caused a fire, now contained, and minor damage at one pump station, but did not disrupt oil output or exports of crude and petroleum products. State-run Aramco said it had temporarily shut down the East-West pipeline, known as Petroline, to evaluate its […]

IFM Investors to Acquire Operator Buckeye Partners for $6.5 Billion

(Reuters) – Asset manager IFM Investors will acquire pipeline operator Buckeye Partners LP in an all-cash deal for $6.5 billion, they said in a joint statement on Friday. Under the terms of the deal, Buckeye shareholders will get $41.50 per common unit held. This represents a 27.5% premium to Buckeye’s closing price on Thursday.  The deal, which will expand IFM’s midstream energy infrastructure portfolio, is expected to close in the fourth quarter of this year. “This acquisition is aligned with IFM’s focus on investing in high quality, essential infrastructure assets that underpin the economies in […]

Chevron Drops $33 Billion Pursuit of Anadarko, Hands Win to Occidental

Chevron Corp abandoned its pursuit of Anadarko Petroleum Corp on Thursday, outmaneuvered by a higher rival bid of $38 billion that included more than three times as much cash. The decision leaves Occidental Petroleum Corp as the likely victor in a contest that again proved the allure of U.S. shale. Anadarko’s board had considered Chevron’s $33 billion bid superior to Occidental’s initial offers, pointing to a signed agreement and joint planning meetings. Chevron’s finance chief signaled the company would be able to put more cash into its existing offer. But that did not happen. The No. 2 U.S. […]

Marathon Petroleum Combines Midstream Operations for $9 Billion

FINDLAY, Ohio (AP) — Marathon Petroleum Corp. is merging two of its oil and gas pipeline, transportation and storage operations for $9 billion. MPLX and Andeavor Logistics are both master limited partnerships majority owned by Marathon, which raised the possibility that it might combine the two late last year. The enterprise value of the deal is listed at $14 billion, and it The deal is expected to close in the second half of the year. Andeavor unitholders will receive 1.135 MPLX common units for each Andeavor common unit held. Marathon will receive 1.0328 MPLX common […]

Exxon, PetroChina Close to Signing Deal with Iraq

BAGHDAD (Reuters) – Iraq is close to signing a $53 billion, 30-year energy agreement with Exxon Mobil and PetroChina, Prime Minister Adel Abdul Mahdi said on Tuesday, denying any link between the mega-project and U.S. permission for Iraq to do business with Iran. The project is crucial to supplying water to oilfields in the south in order to boost pressure and keep production steady. Iraq expects to make $400 billion over the 30 years the deal will be in effect, the prime minister said. The southern mega-project involves the development of the Nahr Bin Umar […]

Trans-Adriatic Pipeline Crosses Albanian Rocky Mountains

The Trans-Adriatic Pipeline (TAP) has crossed the rocky mountains of Albania, putting it on track to start delivering gas to Europe next year. Stretching 546 miles (878 km) from Turkey’s border across Greece, Albania’s mountains, and the Adriatic Sea to Italy, TAP is a cornerstone of the European Union’s energy security policy to wean the bloc off Russian gas. The pipeline will transport up to 10 Bcm of natural gas per year from the Shah Deniz II field in Azerbaijan to Italy from next year. Out of TAP’s total cost of $5.04 billion (4.5 billion […]

Mountaineer Xpress Placed in Service

(PGJ) – The Federal Energy Regulatory Commission (FERC) approved full-service for the Mountaineer XPress (MXP) project, allowing TransCanada to increase the flow of gas and begin operating its Gulf XPress (GXP) project. TransCanada President and CEO Russ Girling called the two developments “extremely important” to the company, adding, the projects “provide much-needed takeaway capacity for our customers, while also growing our extensive footprint in the Appalachian Basin.” The MXP project comprises 170 miles of 36-inch pipeline, three new compressor stations and modifications to three existing compressor stations. The pipeline is capable of providing 2.7 Bcf/d of […]

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