China

U.S. natural gas plant liquid production hits record high in 2018

Xinhua News Agency | Mar 23, 2019 at 8:02 AM
  • U.S. natural gas plant liquid production hit a new high in 2018, the U.S. Energy Information Administration (EIA) said on Friday.
  • U.S. production of natural gas plant liquids (NGPLs) averaged 4.3 million barrels per day (b/d) in 2018, up from 2.5 million b/d in 2012.
  • Nearly three quarters of U.S. NGPL production are concentrated within six producing regions, and NGPL production has generally increased across all regions since 2012 as production of natural gas has grown.

India

BHP to Glencore Halt Output as Twin Cyclones Batter Australia

Bloomberg Quint | Mar 23, 2019 at 4:41 AM
  • Global miners BHP Group and Glencore Plc halted output at energy and metals operations across Australia as two severe cyclones simultaneously approached the coast for the first time since 2015.
  • Woodside Petroleum Ltd. and Chevron Corp. operate LNG export terminals in the region, while BHP, Rio Tinto Group and Fortescue Metals Group ship iron ore from a number of ports dotted across the Pilbara coast.
  • Australia’s north has also been hit by tropical cyclone Trevor.

China

Houston, China groups partner on energy

China Daily (Europe) | Mar 23, 2019 at 12:00 AM
  • China’s leading industrial organization and Houston’s largest chamber of commerce signed a memorandum of understanding to forge a strategic cooperative relationship between Houston and China in the energy sector on Thursday.
  • About 70 percent of the operations of China’s petroleum and chemical industry are under its umbrella.

China

Industry groups from China, Houston ink energy pact

China Daily (Europe) | Mar 23, 2019 at 12:00 AM
  • China’s leading industrial organization and the largest chamber of commerce in the US city of Houston, Texas, signed a memorandum of understanding to forge a strategic cooperative relationship in the energy sector on Thursday.
  • The federation has more than 1,700 member companies, including about 70 percent of the operations of China’s petroleum and chemical industries.

United States

Deals of the day-Mergers and acquisitions

Reuters | Mar 22, 2019 at 8:04 PM
  • The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:
  • * Russian steel pipe maker TMK said it had agreed to sell its U.S. subsidiary IPSCO Tubulars to pipe producer Tenaris.

United States

Shell: Prowling Around The Permian For An Acquisition

Seeking Alpha | Mar 22, 2019 at 3:18 PM
  • It has missed a couple of opportunities to grow in this category, most notably the recent sale of BHP’s (NYSE:BHP) properties to BP (NYSE:BP).
  • BP, through its recent BHP shale acreage acquisition, is on track to grow its shale production prodigiously in the next few years.
  • In 2016, Broken Hill Proprietary (BHP) wasn’t making money after making a big splash in 2011 buying Petrohawk for about $12.1 billion, and gaining a million acres in various shale plays in the process.

United States

Uniper Sells Stake in Italian LNG Plant in 400 Million Euro Deal

New York Times | Mar 22, 2019 at 2:31 PM
  • German energy group Uniper has agreed to sell its stake in a liquefied natural gas (LNG) terminal in Italy to Australian fund First State Investments for about 400 million euros ($452 million), it said on Friday.
  • The sale of the 48.2 percent stake in OLT Offshore LNG Toscana will hand Uniper net proceeds of about 340 million euros (293 million pounds) once the deal closes later this year, a welcome cash injection as the group tries to expand its LNG business in Germany.

United States

Uniper sells stake in Italian LNG plant in 400 million euro deal

Reuters | Mar 22, 2019 at 2:20 PM
  • German energy group Uniper has agreed to sell its stake in a liquefied natural gas (LNG) terminal in Italy to Australian fund First State Investments for about 400 million euros ($452 million), it said on Friday.
  • The sale of the 48.2 percent stake in OLT Offshore LNG Toscana will hand Uniper net proceeds of about 340 million euros once the deal closes later this year, a welcome cash injection as the group tries to expand its LNG business in Germany.
  • The terminal’s other shareholders are Italian multi-utility Iren, which owns 49.1 percent, and LNG shipping group Golar LNG, which holds the remaining 2.7 percent.