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Released July 31, 2024 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
PRODUCTION
BP Gives Go-Ahead for New Gulf of Mexico Hub - BP (NYSE:BP) (London, England) said on Tuesday it has given the go-ahead for the sixth operated hub, Kaskida, in the U.S. Gulf of Mexico, with oil production slated to start in 2029. The new hub features a new floating production platform with the capacity to produce 80,000 barrels of crude oil per day from six wells in the first phase, BP said. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can learn more by viewing the related project reports. (Reuters)
PIPELINES
U.S. Appeals Court Throws Out FERC Pipeline Approval - A U.S. appeals court on Tuesday threw out the Federal Energy Regulatory Commission's (FERC) "arbitrary and capricious" approval of a new $1 billion natural gas project running through five mid-Atlantic states and intended to serve 3 million customers. Agreeing with six environmental groups and eight U.S. states, the D.C. Circuit Court of Appeals said FERC did not properly address objections to the Regional Energy Access Expansion Project planned by Transcontinental Gas Pipe Line, a unit of Williams Companies Incorporated (NYSE:WMB) (Tulsa, Oklahoma). Subscribers to Industrial Info's Pipelines Project Database can learn more by viewing the related project reports. (Reuters)
TC Energy to Sell Pipeline Stake to Indigenous Communities - Pipeline operator TC Energy Corporation (NYSE:TRP) (Calgary, Alberta) said on Tuesday it will sell a minority stake in its Canadian natural gas pipeline system to Indigenous communities for C$1 billion (US$722.1 million) as part of a plan to reduce debt and fund investments. The agreement will enable an Indigenous-owned investment partnership to purchase a 5.34% stake in the NGTL system and Foothills assets in western Canada. Analysts said the widely anticipated deal was a key step to achieving the company's C$3 billion (US$2.2 billion) asset sale target for 2024. (Reuters)
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About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
PRODUCTION
BP Gives Go-Ahead for New Gulf of Mexico Hub - BP (NYSE:BP) (London, England) said on Tuesday it has given the go-ahead for the sixth operated hub, Kaskida, in the U.S. Gulf of Mexico, with oil production slated to start in 2029. The new hub features a new floating production platform with the capacity to produce 80,000 barrels of crude oil per day from six wells in the first phase, BP said. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can learn more by viewing the related project reports. (Reuters)
PIPELINES
U.S. Appeals Court Throws Out FERC Pipeline Approval - A U.S. appeals court on Tuesday threw out the Federal Energy Regulatory Commission's (FERC) "arbitrary and capricious" approval of a new $1 billion natural gas project running through five mid-Atlantic states and intended to serve 3 million customers. Agreeing with six environmental groups and eight U.S. states, the D.C. Circuit Court of Appeals said FERC did not properly address objections to the Regional Energy Access Expansion Project planned by Transcontinental Gas Pipe Line, a unit of Williams Companies Incorporated (NYSE:WMB) (Tulsa, Oklahoma). Subscribers to Industrial Info's Pipelines Project Database can learn more by viewing the related project reports. (Reuters)
TC Energy to Sell Pipeline Stake to Indigenous Communities - Pipeline operator TC Energy Corporation (NYSE:TRP) (Calgary, Alberta) said on Tuesday it will sell a minority stake in its Canadian natural gas pipeline system to Indigenous communities for C$1 billion (US$722.1 million) as part of a plan to reduce debt and fund investments. The agreement will enable an Indigenous-owned investment partnership to purchase a 5.34% stake in the NGTL system and Foothills assets in western Canada. Analysts said the widely anticipated deal was a key step to achieving the company's C$3 billion (US$2.2 billion) asset sale target for 2024. (Reuters)
About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
