midstream

Fuel is being delivered to the US East Coast again after hackers infiltrated the company’s operation. Colonial reportedly paid a $5-million ransom.

Colonial Pipeline shuttered its East Coast fuel pipeline system as data were hacked and held for ransom.

Enterprise Products Partners publicly acknowledged the deep slump in pipeline demand out of the Permian Basin by canceling a project at a time when most producers have been quietly postponing US projects.

An economic downturn and global pandemic are among many issues US midstream operators are dealing with in 2020, including exposure to upstream bankruptcies, limited M&A activity, and regulatory issues.

What will 2020 look like for the oil and gas, energy, and petrochemical markets? Here are 10 observations from ADI Analytics that demonstrate just how global and complex the energy mix has become.

Calgary-based Pembina Pipeline Corp. has entered into agreements to acquire Kinder Morgan Canada Ltd. and the US portion of the Cochin Pipeline system from Kinder Morgan for a total purchase price of approximately $4.35 billion.

Phillips 66 and partners in two separate joint ventures are building the Red Oak and the Liberty pipeline systems to deliver a total of approximately 750,000 BOPD to the US Gulf Coast with startup of service in early 2021.

Approximately 90% of construction work has been completed on the pipeline, which is expected to transport up to 670,000 BOPD from the Permian Basin to the US Gulf Coast. Cactus II is one of several pipelines aimed at alleviating takeaway concerns in the Permian.

The pipeline system will have the initial capacity to deliver 150,000 B/D of crude oil to multiple delivery points, accessing local refineries and connecting to several downstream pipelines.

The independent oil and gas company is aiming to build shareholder value through a change in business focus to midstream with this step into pipeline service and construction.