Pipelines

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Canada’s Oil Boom Threatens to Bring Back Pipeline Shortages

Bloomberg News Canada’s oil producers are poised to pour about half a million barrels of new daily output — more than the total production of some Organization of Petroleum Exporting Countries (OPEC) members — into world markets over the next year or sp. And while the deluge of new crude will be a boon to …

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Canada’s Oil Boom Threatens to Bring Back Pipeline Shortages

Bloomberg News Canada’s oil producers are poised to pour about half a million barrels of new daily output — more than the total production of some Organization of Petroleum Exporting Countries (OPEC) members — into world markets over the next year or sp. And while the deluge of new crude will be a boon to …

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Equitrans Delays WV-VA Mountain Valley Natgas Pipe Again, Boosts Cost

U.S. energy firm Equitrans Midstream delayed the completion date for its Mountain Valley natural gas pipeline from West Virginia to Virginia to the second quarter of 2024 from the previous estimate of the first quarter. The company also boosted the projected cost to complete the project to around $7.57 billion-$7.63 billion, up from a prior …

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Pipeline Owner DT Midstream Is Evaluating M&A Opportunities

The oil and gas industry is in “consolidation mode,” and pipeline company DT Midstream Inc. is positioning itself to take advantage of potential mergers and acquisitions, the company’s chief executive officer said. “We’re very aware of all those bolt-on opportunities around us,” CEO David Slater said on a quarterly earnings call with analysts Friday. Since …

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Pipeline Operator TC Energy Beats Fourth-Quarter Profit Estimates

Reuters Feb 16 (Reuters) – Pipeline operator TC Energy beat fourth-quarter profit estimates on Friday, helped by high demand for liquefied natural gas (LNG). The U.S. was the world’s top LNG exporter last year, after Europe imposed sanctions on Moscow following Russia’s invasion of Ukraine. Full-year exports from the United States rose 14.7%, driven largely by …

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Energy Transfer, Williams Trade Barbs as Gas Pipeline Spat Heats Up

ET executive calls anticompetitive claims ‘unfounded,’ ‘false’ Williams pushes back Louisiana project to 2025 amid dispute There’s no love lost between Energy Transfer LP and Williams Cos. The two pipeline giants hurled accusations at each other Wednesday and gave details of an ongoing court battle over building natural gas projects in Louisiana. Energy Transfer has been accused of …

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U.S. Appeals Court Rejects Renewed Challenge to Mountain Valley Pipeline

A federal appeals court has for the second time rejected a challenge by property owners to the Mountain Valley Pipeline’s use of eminent domain, finding that a federal law bars the case despite a recent U.S. Supreme Court ruling that made it easier to sue federal agencies. In a unanimous, unsigned opinion on Tuesday, a …

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Energy M&A Boom Is Just Getting Started, Enbridge CEO Ebel Says

The surge in energy industry mergers and acquisitions — marked by a series of megadeals among oil producers last year — is set to ramp up further in 2024 as interest rates decline, Enbridge Inc. Chief Executive Officer Greg Ebel said. “As interest rates start to peak and perhaps come down — who knows exactly when that’s going to …

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Oil Pipeline Owner Plains Searches for Deals as Shale M&A Heats Up

Pipeline operator Plains All American Pipeline LP is looking to make more deals as merger and acquisition activity heats up across the oil and gas industry. “We’re hopeful that we’ll be successful on some bolt-on acquisitions,” Chief Financial Officer Al Swanson said on a quarterly earnings call Friday. Small acquisitions of Permian Basin crude gathering lines have helped boost …

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Enbridge Misses Fourth-Quarter Profit Estimates on Lower Mainline Tolls

(Reuters) – Pipeline operator Enbridge  missed fourth-quarter profit estimates on Friday, hurt by lower tolls related to its Mainline crude pipeline system and a decrease in earnings from the company’s gas segment. Enbridge reached a toll agreement for Mainline with oil shippers last year, which was lower than the previous one, after scrapping earlier plans for …

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