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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) over the past week.
OIL & GAS PRODUCTION
Kinder Morgan to Start Up Texas Condensate Splitter in July - Kinder Morgan (NYSE:KMI) (Houston, Texas) says that it will start up its second 50,000-barrel-per day (BBL/d) condensate splitter in the Houston Ship Channel in July.
Shell's Arctic Drilling Hits Regulatory Snag - Royal Dutch Shell's (NYSE:RDS.A) (The Hague, Netherlands) plans to drill two wells in the Alaskan Arctic nine miles apart have met a regulatory snag in the form of a regulation that forbids drilling wells in the area less than 15 miles apart. Drilling a single well may not be an option, as Shell's federal permitting was based solely on drilling two wells.
Earthquakes Cause Dutch Government to Cut Gas Production - The Dutch government has capped production of its Groningen gas field at 30 billion cubic meters (Bcm) for the whole of 2015 after earthquakes linked to gas production from the field have caused extensive property damage. Production was originally planned to be 39.4 Bcm for the year.
Exxon Mobil Halts Offshore California Offshore Production - Exxon Mobil Corporation (NYSE:XMO) (Irving, Texas) says that it has halted production from three platforms off the California coast following the May 19 rupture of the Plains All American (NYSE:PAA) (Houston, Texas) pipeline that transported oil from the facilities. Santa Barbara County denied Exxon's request to transport the oil from the area by truck.
PIPELINES
Planned Saddlehorn Crude Oil Pipeline to Add 50-Mile Segment - Developers of the Saddlehorn pipeline system to move crude oil from Colorado's Denver-Julesburg (DJ) Basin will push ahead with a 50-mile extension in the Centennial State. Industrial Info is tracking five Saddlehorn projects with a total investment value of $800 million.
Plains All American, Delek Announce Open Season for Longview-Shreveport Pipeline - Caddo Pipeline, a 50-50 joint venture of Plains All American Pipeline LP and Delek Logistics Partners, has announced open season for a proposed 80,000-BBL/d crude oil pipeline from Longview, Texas, to Shreveport, Louisiana.
REFINING
Strike at Marathon's Galveston Bay Refinery Ends - A strike lasting more than four months at Marathon Petroleum Corporation's (NYSE:MPC) (Findlay, Ohio) Galveston Bay Refinery ended last week as union members agreed on a contract with the company. Union workers will return to work July 6.
POWER
U.K. Heralds World's Second-Largest Offshore Windfarm - The world's second-largest offshore windfarm, Gwynt y Môr, has opened eight miles off the North Wales coast in the U.K. Developed by RWE Innogy, the U.K. arm of energy giant RWE AG (OTC:RWEOY) (Essen, Germany) said its flagship, 576-megawatt (MW) project will be capable of generating enough electricity for about 400,000 homes--around one-third of all the homes in Wales.
France's Tricastin 3 Nuclear Plant Gets Another 10 Years - France's nuclear safety watchdog, the Autorite de Surete Nucleaire (ASN), has cleared Unit 3 of the Tricastin nuclear power plant in southern France for another 10 years of operation. The ASN said that owner/operator Electricite de France (EPA:EDF) (EDF) (Paris, France) completed a third 10-year safety review for Tricastin 3 on June 2.
LNG
Cheniere Clears Hurdle for Sabine Pass Expansion - Cheniere Energy (NYSE:LNG) (Houston, Texas) has cleared a final hurdle to add a fifth and sixth liquefaction train to its Sabine Pass liquefied natural gas (LNG) plant in Louisiana after the U.S. Federal Energy Regulatory Commission dismissed a request for a rehearing on the project's approval from the Sierra Club.
OTHER NEWS
Midstream Acquisitions and Mergers Abound Since February - When oil prices are low, it is not uncommon to see larger, healthier enterprises buy out smaller ones that are failing or underperforming. However, in the past four months alone, there have been several closed and agreed-upon acquisition or merger agreements between healthy midstream companies in similar weight classes. These mergers and acquisitions represent hundreds of millions of dollars in transactions, and greatly expand the holdings of their surviving entities.
Williams Rejects Unsolicited $48 Billion Offer - Williams Companies (NYSE:WMB) (Tulsa, Oklahoma) reported that it turned down an unsolicited $48 billion bid for the company from energy portfolio company Energy Transfer Equity LP (NYSE:ETE) (Dallas, Texas). Williams said the offer undervalued the company.
Mexico to Tender $9.8 Billion in Electricity, Pipeline Projects - Mexico's national electricity company Comisión Federal de Electricidad (Mexico City) says that it will tender 24 projects worth $9.8 billion for natural gas pipelines and electricity distribution and generation.
PetroVietnam Acquires Chevron's Upstream Vietnamese Projects, Seeks to Produce More Natural Gas - State-owned PetroVietnam (Hanoi, Vietnam), which is aggressively pursuing an increase in its natural gas output, announced it had acquired last week the upstream Vietnamese assets of Chevron Corporation (NYSE:CVX) (San Ramon, California). PetroVietnam will assume control of Chevron's stakes in three offshore blocks in the Malay Basin off the coast of southwestern Vietnam, and a pipeline connecting them to the O Mon Power Plant in southern Vietnam.
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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 trading, logistics and marketing communities. We are the number one source for information about electricity outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
OIL & GAS PRODUCTION
Kinder Morgan to Start Up Texas Condensate Splitter in July - Kinder Morgan (NYSE:KMI) (Houston, Texas) says that it will start up its second 50,000-barrel-per day (BBL/d) condensate splitter in the Houston Ship Channel in July.
Shell's Arctic Drilling Hits Regulatory Snag - Royal Dutch Shell's (NYSE:RDS.A) (The Hague, Netherlands) plans to drill two wells in the Alaskan Arctic nine miles apart have met a regulatory snag in the form of a regulation that forbids drilling wells in the area less than 15 miles apart. Drilling a single well may not be an option, as Shell's federal permitting was based solely on drilling two wells.
Earthquakes Cause Dutch Government to Cut Gas Production - The Dutch government has capped production of its Groningen gas field at 30 billion cubic meters (Bcm) for the whole of 2015 after earthquakes linked to gas production from the field have caused extensive property damage. Production was originally planned to be 39.4 Bcm for the year.
Exxon Mobil Halts Offshore California Offshore Production - Exxon Mobil Corporation (NYSE:XMO) (Irving, Texas) says that it has halted production from three platforms off the California coast following the May 19 rupture of the Plains All American (NYSE:PAA) (Houston, Texas) pipeline that transported oil from the facilities. Santa Barbara County denied Exxon's request to transport the oil from the area by truck.
PIPELINES
Planned Saddlehorn Crude Oil Pipeline to Add 50-Mile Segment - Developers of the Saddlehorn pipeline system to move crude oil from Colorado's Denver-Julesburg (DJ) Basin will push ahead with a 50-mile extension in the Centennial State. Industrial Info is tracking five Saddlehorn projects with a total investment value of $800 million.
Plains All American, Delek Announce Open Season for Longview-Shreveport Pipeline - Caddo Pipeline, a 50-50 joint venture of Plains All American Pipeline LP and Delek Logistics Partners, has announced open season for a proposed 80,000-BBL/d crude oil pipeline from Longview, Texas, to Shreveport, Louisiana.
REFINING
Strike at Marathon's Galveston Bay Refinery Ends - A strike lasting more than four months at Marathon Petroleum Corporation's (NYSE:MPC) (Findlay, Ohio) Galveston Bay Refinery ended last week as union members agreed on a contract with the company. Union workers will return to work July 6.
POWER
U.K. Heralds World's Second-Largest Offshore Windfarm - The world's second-largest offshore windfarm, Gwynt y Môr, has opened eight miles off the North Wales coast in the U.K. Developed by RWE Innogy, the U.K. arm of energy giant RWE AG (OTC:RWEOY) (Essen, Germany) said its flagship, 576-megawatt (MW) project will be capable of generating enough electricity for about 400,000 homes--around one-third of all the homes in Wales.
France's Tricastin 3 Nuclear Plant Gets Another 10 Years - France's nuclear safety watchdog, the Autorite de Surete Nucleaire (ASN), has cleared Unit 3 of the Tricastin nuclear power plant in southern France for another 10 years of operation. The ASN said that owner/operator Electricite de France (EPA:EDF) (EDF) (Paris, France) completed a third 10-year safety review for Tricastin 3 on June 2.
LNG
Cheniere Clears Hurdle for Sabine Pass Expansion - Cheniere Energy (NYSE:LNG) (Houston, Texas) has cleared a final hurdle to add a fifth and sixth liquefaction train to its Sabine Pass liquefied natural gas (LNG) plant in Louisiana after the U.S. Federal Energy Regulatory Commission dismissed a request for a rehearing on the project's approval from the Sierra Club.
OTHER NEWS
Midstream Acquisitions and Mergers Abound Since February - When oil prices are low, it is not uncommon to see larger, healthier enterprises buy out smaller ones that are failing or underperforming. However, in the past four months alone, there have been several closed and agreed-upon acquisition or merger agreements between healthy midstream companies in similar weight classes. These mergers and acquisitions represent hundreds of millions of dollars in transactions, and greatly expand the holdings of their surviving entities.
Williams Rejects Unsolicited $48 Billion Offer - Williams Companies (NYSE:WMB) (Tulsa, Oklahoma) reported that it turned down an unsolicited $48 billion bid for the company from energy portfolio company Energy Transfer Equity LP (NYSE:ETE) (Dallas, Texas). Williams said the offer undervalued the company.
Mexico to Tender $9.8 Billion in Electricity, Pipeline Projects - Mexico's national electricity company Comisión Federal de Electricidad (Mexico City) says that it will tender 24 projects worth $9.8 billion for natural gas pipelines and electricity distribution and generation.
PetroVietnam Acquires Chevron's Upstream Vietnamese Projects, Seeks to Produce More Natural Gas - State-owned PetroVietnam (Hanoi, Vietnam), which is aggressively pursuing an increase in its natural gas output, announced it had acquired last week the upstream Vietnamese assets of Chevron Corporation (NYSE:CVX) (San Ramon, California). PetroVietnam will assume control of Chevron's stakes in three offshore blocks in the Malay Basin off the coast of southwestern Vietnam, and a pipeline connecting them to the O Mon Power Plant in southern Vietnam.
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 trading, logistics and marketing communities. We are the number one source for information about electricity outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
