Last updateThu, 20 Sep 2018 3pm


Tallgrass Developing New Pipeline and Liquids Terminal

Tallgrass Energy, LP plans to develop a new crude oil pipeline from Cushing, OK to the St. James, LA refining complex, as well as a separate new export-capable liquids terminal strategically located near the mouth of the Mississippi River.

The proposed Seahorse Pipeline is expected to be 30 inches in diameter and approximately 700 miles long, with the capacity to transport up to 800,000 barrels of crude oil per day from Cushing to the Louisiana Gulf Coast. The proposed new terminal, Plaquemines Liquids Terminal is expected to be fully operational in 2Q 2020 and is permitted for up to 20 million barrels of storage. 

Plan in Works to Finish Alabama Nuclear Plant

Details of a plan to finish the Bellefonte Nuclear Power Plant, and its two Babcock & Wilcox pressurized water reactors, were revealed this week in Alabama, 30 years after the Tennessee Valley Authority (TVA) called a halt to construction.

“TVA began building the plant in 1974. Construction was halted in 1988 amid a downturn in the U.S. nuclear industry, including a decision that the plant was not needed due to declining power demand. The 1,300-acre Bellefonte site has plenty of equipment—including two partly-built reactors, cooling towers, water pumping stations, switch yards, warehouses, office buildings, parking lots, a helicopter landing pad and railroad spurs—still in place,” Power  reports

June Highest Ever for Crude Oil & NGL Production

The American Petroleum Institute (API) released its monthly statistical report for June of 2018 highlighting that U.S. production of crude oil and natural gas liquids (NGLs) hit is highest level ever. In June, production of crude oil hit 10.7 million barrels per day (mb/d) and production of natural gas liquids hit 4.2 mb/d. Domestic refineries ran at their highest percent capacity utilization rate in June (96.6 percent) since 2005. Solid economic and energy market fundamentals also underpinned the strongest U.S. petroleum demand since 2007, at 20.6 mb/d. 

U.S. Pushes for Cyber Collaboration After Energy Intrusion

According to Homeland Security secretary Kirstjen Nielsen, hacking attacks are mounting against U.S. energy companies.

Electronic sensors and other monitoring devices are an integral part of tracking data from oil and gas wells and pipelines. Complex computer algorithms are constantly adjusting the flows of everything from oil and natural gas to electrical power, with automatic valves in place that can shut down flow at a moment's notice. However, these are vulnerable to electronic sabotage, as was evidenced by an attack against 5 energy companies in March, 2018.

This and other cyberattacks led this past week to Nielsen’s announcement that guarding the sector will be a top priority for a new cybersecurity effort including a "major" cybersecurity exercise to be held later this year. 

Second Quarter Saw Increase in Oil and Gas M&A Deals

During the second quarter of 2018, commodity prices achieved levels not seen in years, according to a quarterly report from PwC. Total deal value for the second quarter was the highest second quarter deal value in history, driving average deal value for the second quarter of 2018 to new record highs. The downstream segment had one of the best quarters in history, generating $35.03 billion in deal value, including the largest transaction of 2018. 

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