Oil & Gas Transportation

U.S. natural gas pipeline endeavor Mountain Valley Pipeline stated on Friday it repaired a segment of pipeline that stopped working a water test earlier in the month and will continue to prepare the longdelayed West VirginiaVirginia pipe for service. The endeavor was on track to finish the $7.85 billion project by the end of May, U.S. energy company Equitrans Midstream , the lead partner in the Mountain Valley venture, stated in late April. Mountain Valley continues to expect to complete building and construction and last commissioning activities on or about May 31, 2024, an Equitrans representative said. Mountain Valley made...

Canada's Pembina Pipeline Corp. is not investing much time considering financial investment in the. freshly broadened Trans Mountain oil pipeline (TMX) due to. unpredictability around shipping tolls, a company executive stated on. Friday. Calgary-based Pembina formed a collaboration with an. Native company, Western Native Pipeline Group, in. 2021 to pursue purchasing a stake in the Canadian government-owned. pipeline, however in recent months has soft-pedaled the concept of. buying the job. From our viewpoint, there still exists an incredible. amount of uncertainty around that property, Cameron Goldade,. Pembina's chief financial officer, stated on an incomes call. As a financial investment opportunity...

Pipeline operator Energy Transfer anticipates to get a draft Environmental Effect Statement (EIS) for its Blue Marlin overseas terminal this quarter, executives said on Wednesday during a quarterly revenues call. Energy Transfer is among numerous companies competing to develop deepwater ports along the Texas Gulf Coast in a bet on increasing U.S. crude production and growing exports U.S. crude exports. amounted to 4.5 million barrels recently, according to the U.S. Energy Information Administration. The Dallas, Texas-based business prepares for getting a. license for the terminal within a year of the EIS. Rival. Enterprise Products Partners in April became the very...

Williams Companies beat firstquarter revenue approximates on Monday, as the pipeline operator gained from increased rates and beneficial contributions from acquisitions. Shares up 1.3% at $39.58 in aftermarket trade. Tulsa, Oklahoma-based Williams said its Transmission & & Gulf of Mexico unit benefited from contributions from the Gulf Coast Storage and MountainWest acquisitions. The pipeline operator had actually said in December it would obtain natural gas storage properties from an affiliate of Hartree Partners LP for $1.95 billion and the MountainWest Pipelines business acquisition from Southwest Gas Holdings for $1.07. billion was revealed in 2022. The business's sector includes Transco, the...

The amount of gas flowing to Freeport LNG's export plant in Texas increased to a twomonth high up on Sunday in what energy traders stated was another sign that the plant was wrapping up a series of failures over the past month or so. The start-up and shutdown of Freeport and other U.S. liquefied gas (LNG) export plants typically has a significant effect on worldwide gas rates. U.S. gas futures at the Henry Hub criteria in Louisiana have soared by around 33% over the previous seven days due in part to the increase in demand for fuel from Freeport after...

The discount rate on Western Canada Select ( WCS) heavy unrefined versus the North American benchmark West Texas Intermediate (WTI) narrowed partially on Friday: * WCS for May shipment in Hardisty, Alberta, traded at $ 11.75 a barrel below WTI, according to brokerage CalRock, after closing at $11.90 a barrel listed below the standard on Thursday. * Canadian heavy crude has traded at a discount rate of less than $ 12 a barrel to WTI because the start of this month's trade cycle on Wednesday, when the 590,000 barrel each day Trans Mountain pipeline growth (TMX) also began commercial operations....

Canada's main stock index got on Friday, led by gains in health care shares, while the slowing U.S. jobs growth in April raised hopes of early interest rate cuts by the U.S. Federal Reserve. At 9:50 a.m. ET (13:50 GMT), the Toronto Stock Exchange's. S&P/ TSX composite index was up 111.11 points, or. 0.51%, at 21,934.33. The index is, however, set for weekly. losses. U.S. job development slowed more than expected in April and. annual wage gains cooled, with traders now contributing to bets that. the Fed will deliver its first rate of interest cut this year in. September compared...

Pipeline and storage operator Plains All American raised its stake in the Saddlehorn Pipeline Company joint venture and a midContinent basin terminal asset by 10% for about $110 million in cash. Plains currently held 30% interest in the Saddlehorn Pipeline joint venture, according to its 2023 year-end filing. The company also said it has extended the duration of its Permian basin long-haul portfolio, consisting of the Cactus I crude oil pipeline. The move would supply higher clarity on the outlook for Plains' long-haul assets, boosting investor confidence in the outlook for the business and its capability to continue creating capital...

Futures for Canada's primary stock index inched up on Friday, raised by favorable corporate updates, as financiers await a crucial tasks report from the U.S. Labor Department later in the day to gauge the instructions of international interest rates. June futures on the S&P/ TSX index were up 0.2% at 7:14 a.m. ET (11:14 GMT). The benchmark index ended greater on Thursday however was set to log a weekly loss. Markets are directly focused on U.S. non-farm payrolls data, due at 8:30 a.m. ET, that is anticipated to show the American economy included 243,000 jobs in April, poll of economist...

The discount on Western Canada Select ( WCS) heavy crude versus the North American standard West Texas Intermediate (WTI) widened a little on Thursday: * WCS for May shipment in Hardisty, Alberta, traded at $ 11.90 a barrel listed below WTI, according to brokerage CalRock, after closing at $11.75 a barrel below the criteria on Wednesday. * Canadian heavy crude stays near to its narrowest levels this year after the Trans Mountain pipeline growth task ( TMX) started commercial operations on Wednesday. * Lots of analysts anticipate TMX will assist tighten up heavy crude differentials to less than $10 a...

Pipeline operator Targa Resources beat Wall Street estimates for firstquarter core revenue, benefitting from higher volumes of natural gas liquids ( NGL) transferred through its system, sending its shares up about 1% in the afternoon trade. NGL pipeline transport volumes were up nearly 34% in the January-March quarter compared to in 2015, while NGL sales rose about 22% to 1.23 million bbl/d in the quarter from a year previously. Unrefined rates gained in the January-March quarter, as production curtailments from OPEC+, Russian refinery interruptions and the Middle East dispute raised concerns over materials, helping oil and gas transportation companies like...

The discount rate on Western Canada Select ( WCS) heavy crude versus the North American criteria West Texas Intermediate (WTI) tightened on Wednesday, as commercial operations got underway on the longanticipated Trans Mountain pipeline growth (TMX): * WCS for May delivery in Hardisty, Alberta, traded at $ 11.75 a barrel below WTI, according to brokerage CalRock, after closing at $12.20 a barrel below the benchmark on Tuesday. * The Trans Mountain pipeline expansion project (TMX) began industrial operations on Wednesday, and tankers will have the ability to load at Westridge Marine Terminal in the Port of Vancouver by mid-May. *...

Turkey's imports of Russia's flagship Urals crude increased to a monthly record of more than 12 million barrels in March, as Ankara stays the world's. second biggest importer of the grade after India, according to. LSEG information. Turkey became the most significant importer of Russian energy in the. Western hemisphere after Russia's military actions in Ukraine. triggered European countries to halt most imports of Russian oil. and gas. Urals exports to Turkey have actually increased much more because last year. following the deal in between Russian personal oil producer Lukoil. and Azerbaijan's Socar - an owner of 200,000-barrel-per-day. Turkish STAR...

Kazakhstan braced on Friday for levels on the Ural River to rise sharply, something that might threaten 2 of its western areas and key oil facilities, while Russia came to grips with floods in and near Siberia. Both countries have in the last couple of weeks fought the worst floods in decades, which have required 10s of thousands individuals to evacuate. Hundreds of individuals were developing a 7-km (4.3-mile) barrier on Friday along the Ural River in the town of Yanvartsevo, in the West Kazakhstan area, about 20 km from the Russian border, which officials stated would likewise secure the...

The European Parliament voted on Thursday to pass rules allowing European governments to restriction Russian liquefied natural gas (LNG) imports, by preventing Russian firms from booking gas facilities capability. The European Union has prevented imposing sanctions on Russian gas, which some members rely greatly on. As a workaround, the brand-new gas policy intends to establish a. legal route for federal governments to block Russian gas shipments to. their nation though up until now no significant importer has indicated they. will utilize it. The new EU gas market guidelines enable governments to briefly. stop Russian and Belarusian gas exporters from bidding...

Novatek, Russia's largest producer of liquefied natural gas (LNG), has suspended production at its Arctic LNG 2 job due to sanctions and a lack of gas tankers, two sources familiar with the matter informed on Tuesday. The task had been wishing to begin business shipments in the first quarter of this year. But strategies were made complex in 2015 when it was included in Western sanctions over Russia's conflict in Ukraine, prompting foreign investors to freeze involvement and Novatek to issue a force majeure. The decision to suspend converting gas to LNG is a. blow to Russia's goal to capture...

The operator of Kazakhstan's. giant overseas Kashagan oilfield denied reports of an oil spill. near the field and stated on Tuesday its centers were working. generally. Globus, an environmental organisation in the Main Asian. nation, said earlier on Tuesday that satellite images had. caught a large oil spill in the northern Caspian Sea near. Kashagan. Globus director Galina Chernova published on Facebook that a. slick of around 7 square km (2.7 square miles) had formed,. citing images from Sentinel-1A, a European satellite. However NCOC, largely owned by Western oil majors which operate. the field, said those satellite images showed some...

The oil tanker NS Century, which is under sanction by the United States, showed up at the Chinese port of Qingdao late on Thursday to discharge its cargo of Russian crude oil, LSEG shipping information revealed. The Russian-flagged tanker, operated by Russian shipping group Sovcomflot's (SCF) Dubai-based subsidiary SCF MGMT, is carrying about 700,000 barrels of Russian Sokol crude. It is the fourth U.S.-sanctioned tanker to dock at Chinese ports this month to clear a backlog of Russian Sokol crude saved on ships. Nevertheless, the previous ships - Liteyny Possibility, Krymsk and Nellis - had actually docked during temporary waivers...

The United States on Friday imposed extensive sanctions versus Russia, targeting more than 500 people and entities to mark the second anniversary of Moscow's invasion of Ukraine and retaliate for the death of Russian opposition leader Alexei Navalny. President Joe Biden stated the procedures aim to ensure Russian President Vladimir Putin pays an even steeper rate for his aggressiveness abroad and repression in the house. The sanctions targeted Russia's Mir payment system, banks and its military industrial base, sanctions evasion, future energy production and other locations. They likewise hit prison officials the U.S. states are linked to Navalny's death. Doesn't...

Russia on Sunday revealed extra voluntary cuts in oil supply primarily in the type of production cuts rather than exports, as it faced curtailed refining capacity as well as stricter sanctions, experts said. Russia has actually declared strategies to cut its oil output and exports by an additional 471,000 barrels each day (bpd) in April-June in coordination with some OPEC+ getting involved nations. While the world's second-largest oil exporter has been lowering 500,000 bpd in exports of petroleum and oil items in the very first quarter, it has decided to reduce export limits in the second quarter and focus on...