Archive for 'Industry news'

Brazilian oil company Petrobras’ executive board has decided to resume the bidding process for a 90% interest in its Transportadora Associada de Gas (TAG) pipeline unit.

The sale will also include the company’s Araucaria fertiliser factory.

Petrobras will also continue to look for potential refining partnerships.

The company had been looking to divest its interest in the pipeline operator TAG. However, the sale process was suspended following an injunction issued by a Brazilian court.

A superior court overturned the injunction earlier this week. Based ...

In May, the company announced a definitive agreement was in place to sell Midcoast Operating and its subsidiaries to AL Midcoast Holdings, an affiliate of ArcLight Capital Partners, for a cash purchase price of CA$1.4 billion (US$1.08 billion).

“We are pleased to have moved quickly to execute and close these transactions at strong valuations,” said Enbridge President and CEO Al Monaco.

Midcoast Operating conducts natural gas and natural gas liquids (NGL) gathering, processing, transportation and marketing businesses, serving established basins in Texas, ...

Kinder Morgan announced that its board of directors has agreed to the purchase of the Trans Mountain Pipeline system and the expansion project (TMEP) by the Government of Canada for C$4.5 billion, and has agreed to work with the Government of Canada to seek a third party buyer for the Trans Mountain Pipeline system and TMEP through July 22, 2018.

As part of the agreement, the Government has agreed to fund the resumption of TMEP planning and construction work by guaranteeing ...

France will allow gas utility Engie to sell part of the main French gas grid, GRTgaz, to private investors, according to a planned parliamentary bill, as the government eyes a series of possible privatizations to boost the economy.

The gas grid, which manages most French gas pipelines and storage sites, is currently 75% owned by Engie, with the remaining 25% owned by state investor Caisse des Depots and insurer CNP.

The new law will allow the state-controlled investors to jointly hold only ...

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