Hess is selling half of its Bakken midstream assets in a joint venture deal with Global Infrastructure Partners that will form a premier midstream company valued at $5.35 billion.
A regional production drop off has left the three major West Coast refining centers—Puget Sound, San Francisco and Los Angeles—in a feedstock bind.
Crude by rail offers an opportunity to fill the gaps left by limited pipeline capacity, along with unique optimization challenges that in-depth data analysis and reporting tools can address.
Keith Bainbridge, the managing director of CS LNG, discusses the future of the LNG carrier shipping market.
Enbridge made a 5% investment in Fairwood and also entered into a joint development agreement to support development of offshore LNG facilities in the GoM.
Exmar will transfer its assets to Flex LNG in return for 323.7 million new shares in the company, giving it a 64.6% stake, London-based Flex LNG said in a statement July 1.
A 670-kilometer natural gas pipeline will run from Groundbirch area near Dawson Creek, British Columbia, to proposed LNG Canada liquefied natural gas export facility near Kitimat, also in the province.
Cheniere Partners will close credit facilities and issue Bechtel Oil Gas and Chemicals Inc. a notice to proceed on Train 5. Trains 1, 2 were about 90.8% complete May 31.
The proprietary 367-mile offshore pipeline can transport 350,000 barrels per day of crude oil to Texas and Louisiana markets. South Marsh Island strategic platform 205 is under ownership.
Midstream assets included in the joint venture include a natural gas processing plant in Tioga, N.D. Hess Infrastructure will make an IPO of Hess Midstream Partners LP common units.
Ultralight condensate is increasingly part of the makeup of far West Texas and New Mexico output. It could be moved by rail if too light for pipelines, Reuters said.
Colonial's Line 1, with a capacity of 1.2 million barrels per day, runs from Houston to Greensboro, N.C. The current allocation is for the pipeline segment north of Collins, Miss.
Index of the four largest publicly traded U.S. railroads dropped 20% from November, Bloomberg said. Low natural gas prices drain coal demand; oil drilling slows. Petroleum carloads are down 0.6.
Stock of rail car maker Greenbrier Cos. fell steeply, Bloomberg said. Lower demand for oil- and natural gas-carrying rail cars will offset sales of other units, a Stifel analyst said.