Connection

popular articles

Waaree inaugurates 5.4 GW solar gigafactory in Chikhli, strengthening India’s industrial capacity
Bangladesh revives solar push with 2.65 GW tender amid investor concerns
The World Bank anticipates a historic drop in oil prices in 2025
Poland injects 60 billion zloty into its first nuclear power plant
Soleos Energy and Melci Launch a 200 MW Solar Power Plant in DRC

Energy Transfer and Sunoco combine their crude assets in the Permian Basin

Energy Transfer and Sunoco create a joint venture to optimize their crude oil and water gathering assets in the Permian Basin.
Coentreprise Energy Transfer Sunoco
  • [favorite_button]

Please share:

US companies Energy Transfer LP and Sunoco LP have announced the formation of a joint venture to combine their crude oil and produced water gathering assets in the Permian Basin. This region, which stretches across western Texas and southeastern New Mexico, is one of the main oil and gas production areas in the United States. In addition, theUS oil industry is facing a drop in demand.

A Strategic Union

The joint venture, formed on July 1, is immediately accretive to distributable cash flow for both companies. Dallas-based Energy Transfer will hold a 67.5% stake, while Sunoco will own the remaining 32.5%.
This operation will enable the joint venture to manage over 8,000 kilometers of crude oil and water gathering pipelines, with crude oil storage capacity exceeding 11 million barrels. This consolidation is aimed at strengthening their presence and efficiency in the Permian Basin.

Financial and operational benefits

The consolidation of collection and storage assets should offer substantial financial benefits, notably through economies of scale and better use of existing infrastructures. The partnership will also optimize operations and reduce operating costs, while increasing the resilience of hydrocarbon supply chains.
Energy Transfer and Sunoco are thus seeking to capture a larger share of the crude oil gathering and transportation market in the Permian Basin, in response to growing demand from refineries and exporters.

Market outlook

The initiative comes at a time when investment in the energy sector is increasingly focused on improving existing infrastructure and optimizing transmission networks. This joint venture could serve as a model for other similar collaborations in the industry, particularly in regions with high oil production.
The agreement between Energy Transfer and Sunoco reflects a trend towards consolidation in the energy sector, where companies are seeking to improve their operational efficiency and strengthen their market position through strategic partnerships.
This joint venture should have a significant impact on the Permian Basin crude oil market, opening up new opportunities for investors and operators in the sector.

Register free of charge for uninterrupted access.

Publicite

Latest news

India’s coal-fired electricity generation drops 9.5% in May, steepest decline in five years
Pine Gate signs 586 MW deal with Waaree for US-made solar modules
CIB grants $97mn loan for Wedgeport Wind Farm in Nova Scotia
NANO Nuclear strengthens its board with former U.S. Department of Energy official
US crude oil inventories fall by 4.3 million barrels

Recently published in

US crude oil inventories fall by 4.3 million barrels

Commercial crude reserves in the United States declined more than expected, following increased refinery activity according to EIA data published on June 4.
TotalEnergies strengthens its position in Brazil with additional 3% stake in Lapa field
TotalEnergies has signed an agreement with Shell to increase its stake in Brazil’s offshore Lapa field to 48%, while divesting its interest in Gato do Mato.
en_1140290989540
TotalEnergies strengthens its position in Brazil with additional 3% stake in Lapa field
TotalEnergies has signed an agreement with Shell to increase its stake in Brazil’s offshore Lapa field to 48%, while divesting its interest in Gato do Mato.
en_1140290989540
SBM Offshore sells its stake in FPSO Aseng to GEPetrol
SBM Offshore has signed a divestment agreement with GEPetrol to fully withdraw from the FPSO Aseng project in Equatorial Guinea, with an operational transition phase of up to one year.
en_1140290985540
SBM Offshore sells its stake in FPSO Aseng to GEPetrol
SBM Offshore has signed a divestment agreement with GEPetrol to fully withdraw from the FPSO Aseng project in Equatorial Guinea, with an operational transition phase of up to one year.
en_1140290985540
Meren Energy seeks partners for offshore blocks in Equatorial Guinea
Meren Energy has launched a partial divestment process for its EG-18 and EG-31 assets to attract new partners and reduce its exposure in Equatorial Guinea.
en_1140290966540
Meren Energy seeks partners for offshore blocks in Equatorial Guinea
Meren Energy has launched a partial divestment process for its EG-18 and EG-31 assets to attract new partners and reduce its exposure in Equatorial Guinea.
en_1140290966540

PTAS Aker Solutions secures two-year offshore maintenance contract in Brunei

The oil services joint venture extends its contract with Brunei Shell Petroleum for maintenance and upgrade operations on offshore installations in the South China Sea.
Renaissance Africa Energy finalises takeover of SPDC’s onshore assets in Nigeria
Renaissance Africa Energy confirmed to the Nigerian government the operational takeover of Shell Petroleum Development Company’s onshore assets, stating it had surpassed the 200,000 barrels per day production mark.
en_1140290956540-4
Renaissance Africa Energy finalises takeover of SPDC’s onshore assets in Nigeria
Renaissance Africa Energy confirmed to the Nigerian government the operational takeover of Shell Petroleum Development Company’s onshore assets, stating it had surpassed the 200,000 barrels per day production mark.
en_1140290956540-4
Woodside initiates 65 millions USD arbitration procedure against Senegal
Australian company Woodside Energy has filed a complaint with ICSID against Senegal, challenging a CFA40bn tax reassessment related to the offshore Sangomar oil project.
en_1140290963540
Woodside initiates 65 millions USD arbitration procedure against Senegal
Australian company Woodside Energy has filed a complaint with ICSID against Senegal, challenging a CFA40bn tax reassessment related to the offshore Sangomar oil project.
en_1140290963540
Nigeria ties tax incentives to performance to revive upstream oil sector
Nigeria introduces a tax credit capped at 20% for oil operators meeting cost reduction targets, with a focus on gas and offshore projects.
en_1140290947540-2
Nigeria ties tax incentives to performance to revive upstream oil sector
Nigeria introduces a tax credit capped at 20% for oil operators meeting cost reduction targets, with a focus on gas and offshore projects.
en_1140290947540-2

Morocco funds expert mission to revive offshore exploration

Following the withdrawal of two British companies, Morocco launches a MAD2.5mn ($270,000) expert mission to boost the appeal of its offshore oil and gas sector.
International Petroleum repurchases 89,200 shares under its NCIB programme
International Petroleum Corporation repurchased 89,200 common shares between 26 and 30 May under its buyback programme compliant with Canadian and European regulations.
en_1140290968540-3-1-768x364
International Petroleum repurchases 89,200 shares under its NCIB programme
International Petroleum Corporation repurchased 89,200 common shares between 26 and 30 May under its buyback programme compliant with Canadian and European regulations.
en_1140290968540-3-1-768x364
US oil rig count falls to lowest level since 2021
US energy companies reduced the number of active rigs for the fifth consecutive week, reaching their lowest level since November 2021, according to data published by Baker Hughes.
en_1140290943540
US oil rig count falls to lowest level since 2021
US energy companies reduced the number of active rigs for the fifth consecutive week, reaching their lowest level since November 2021, according to data published by Baker Hughes.
en_1140290943540
Sweden enforces tighter controls on Russian ships in the Baltic Sea
The Swedish government will implement new disclosure rules for foreign vessels, specifically targeting tankers linked to Russia’s hard-to-trace oil fleet.
en_1140290961540
Sweden enforces tighter controls on Russian ships in the Baltic Sea
The Swedish government will implement new disclosure rules for foreign vessels, specifically targeting tankers linked to Russia’s hard-to-trace oil fleet.
en_1140290961540

Petrobras signs two agreements in Angola to relaunch its offshore activities

Brazilian group Petrobras formalises its return to Angola with two memorandums of understanding signed with Sonangol and the national oil regulator, targeting offshore exploration without immediate financial commitment.
Agip secures rights over OPL 245 after key court ruling in Nigeria
The Abuja Court of Appeal rejected Malabu Oil & Gas’s lawsuit against Agip, Eni’s subsidiary, by upholding the statute of limitations on the OPL 245 oil block case.
en_1140290945540-16
Agip secures rights over OPL 245 after key court ruling in Nigeria
The Abuja Court of Appeal rejected Malabu Oil & Gas’s lawsuit against Agip, Eni’s subsidiary, by upholding the statute of limitations on the OPL 245 oil block case.
en_1140290945540-16
Galp targets 40% increase in oil production in Brazil
Portugal’s Galp expects a production surge in Brazil driven by the offshore Bacalhau field, in partnership with Sinopec, Equinor and ExxonMobil.
en_1140290954540-15
Galp targets 40% increase in oil production in Brazil
Portugal’s Galp expects a production surge in Brazil driven by the offshore Bacalhau field, in partnership with Sinopec, Equinor and ExxonMobil.
en_1140290954540-15
North Atlantic in talks to acquire Esso’s Gravenchon refinery
North Atlantic has entered exclusive negotiations to acquire the Gravenchon refinery, France’s second-largest, from ExxonMobil in a deal reshaping the industrial landscape of the Seine Valley.
en_1140290950540-16
North Atlantic in talks to acquire Esso’s Gravenchon refinery
North Atlantic has entered exclusive negotiations to acquire the Gravenchon refinery, France’s second-largest, from ExxonMobil in a deal reshaping the industrial landscape of the Seine Valley.
en_1140290950540-16

Shell strengthens position in Nigeria by acquiring TotalEnergies’ stake in Bonga

TotalEnergies sells its 12.5% stake in the offshore Bonga oil field to Shell for $510mn, raising the British group's share to 67.5% in the OML 118 block off the Nigerian coast.
Chevron receives narrow U.S. authorization to retain its Venezuelan assets
The Trump administration authorizes Chevron to maintain limited stakes in Venezuela while prohibiting oil production and export, marking a decisive shift for the oil sector amid geopolitical tensions with Maduro’s government.
en_1140290950540-15
Chevron receives narrow U.S. authorization to retain its Venezuelan assets
The Trump administration authorizes Chevron to maintain limited stakes in Venezuela while prohibiting oil production and export, marking a decisive shift for the oil sector amid geopolitical tensions with Maduro’s government.
en_1140290950540-15
Indonesia Energy aims to strengthen its upstream oil presence in Indonesia
Indonesia Energy announces a ramp-up in its oil assets with a 60% increase in proven reserves and confirms a strategic shift toward gradual energy diversification.
en_1140290957540-15
Indonesia Energy aims to strengthen its upstream oil presence in Indonesia
Indonesia Energy announces a ramp-up in its oil assets with a 60% increase in proven reserves and confirms a strategic shift toward gradual energy diversification.
en_1140290957540-15
SK Innovation Intensifies Oil Investments with New Projects in Asia
SK Innovation, through its subsidiary SK Earthon, is accelerating investments in offshore oil exploration projects in Southeast Asia, enhancing South Korea's energy security through a regional strategy focused on operational efficiency.
en_1140290949540-14
SK Innovation Intensifies Oil Investments with New Projects in Asia
SK Innovation, through its subsidiary SK Earthon, is accelerating investments in offshore oil exploration projects in Southeast Asia, enhancing South Korea's energy security through a regional strategy focused on operational efficiency.
en_1140290949540-14

Russia Challenges Adjustment to Price Cap on Its Oil Exports

As Western nations debate an adjustment to the price ceiling on Russian oil, Moscow firmly rejects these measures as market-distorting, citing a lack of significant impact on its current exports.
Namibia appoints former Chevron executive to lead its oil strategy
Carlo McLeod joins the new presidential unit dedicated to hydrocarbons as Namibia centralises oil sector governance under the head of state.
en_1140290955540-14
Namibia appoints former Chevron executive to lead its oil strategy
Carlo McLeod joins the new presidential unit dedicated to hydrocarbons as Namibia centralises oil sector governance under the head of state.
en_1140290955540-14
Valeura to drill ten new wells after successful campaign offshore Thailand
Valeura Energy has completed eight wells on Block B5/27 in the Gulf of Thailand, securing stable output and preparing a new investment phase at the Nong Yao field.
en_1140290959540-14
Valeura to drill ten new wells after successful campaign offshore Thailand
Valeura Energy has completed eight wells on Block B5/27 in the Gulf of Thailand, securing stable output and preparing a new investment phase at the Nong Yao field.
en_1140290959540-14
Shell awards Mecpec Trading as Best Reseller in East Asia
Shell recognised Mecpec Trading for its 2023 fuel sales growth and contribution to Singapore's distribution network, with a 23% increase in total volume delivered.
en_1140290963540-6
Shell awards Mecpec Trading as Best Reseller in East Asia
Shell recognised Mecpec Trading for its 2023 fuel sales growth and contribution to Singapore's distribution network, with a 23% increase in total volume delivered.
en_1140290963540-6

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS