Archive for 'Industry news'

Sunoco Logistics and Energy Transfer complete merger

Sunoco Logistics Partners LP and Energy Transfer Partners LP have completed the merger of an indirect subsidiary of Sunoco Logistics with and into Energy Transfer. Energy Transfer will become a wholly owned subsidiary of Sunoco Logistics.

At the effective time of the merger, each Energy Transfer common unit converted into the right to receive 1.5 Sunoco Logistics common units. Based on the Energy Transfer units outstanding, Sunoco Logistics issued approximately 845

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Partial sale of Dakota Access Pipeline completed after construction resumes

Dallas-based Energy Transfer Partners completed a $2 billion sale of stakes in the controversial Dakota Access Pipeline, which restarted construction this week after receiving regulatory approval from the U.S. Army Corps of Engineers. Energy Transfer sold a 36.8 stake in the roughly $4 billion pipeline project to affiliates of Calgary-based Enbridge and Ohio-based Marathon Petroleum. That includes 27.6 percent to Enbridge and 9.2 percent to Marathon. The deal reduces Energy Transfer ownership to a controlling 38.25 percent, while ...

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ExxonMobil and Sunoco agree on a new midstream joint venture

Sunoco Logistics has entered into a strategic joint venture (JV) with ExxonMobil, called Permian Express Partners, to combine certain areas of their crude oil logistic assets. As part of the agreement Sunoco will contribute its Permian Express 1 and 2, Permian Longview, and Louisiana Access pipelines. ExxonMobil will contribute its Longview to Louisiana and Pegasus pipelines, its Hawkins gathering system, an idle pipeline in southern Oklahoma, and its terminal in Patoka, Illinois. The JV has been created to establish a ...

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Fire forces closure of key oil pipeline in Nigeria

Shell says a fire has forced it to close a key oil pipeline feeding Nigeria’s strategic Bonny Export Terminal, which militants attacked last week. The ongoing challenges are losing oil multinationals billions of dollars in what used to be Africa’s biggest petroleum producer. SBM Intelligence risk analysts estimate that renewed militant attacks, low oil prices and weak refinery margins have cost Dutch-British Shell and U.S.-based Chevron and ExxonMobil $7.1 billion in the first half of the year, representing ...

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Mountain Valley Pipeline project delayed for impact statement

Construction on the Mountain Valley Pipeline was slated to start in December. However, construction on the $3.5 million, 300-mile natural gas pipeline could be delayed until next summer after the Federal Emergency Regulatory Commission said recently the final Environmental Impact statement will likely be released in March 2017. After the release, FERC commissioners have 90 days to make a decision on whether to green or red light the projects. With those delays the earliest construction can start is ...

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Duke Energy postpones Central Corridor Pipeline Extension

Duke Energy is delaying its controversial natural gas pipeline project and will extend the review process to find the

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OMV may be planning a ‘Russian Nabucco’ Gas Pipeline

The future head of Austria

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