“This expansion of our Gulf Coast refining system enables Chevron to process more domestic light crude, supply a portion of our retail market in Texas and Louisiana with Chevron-produced products, and realize synergies through coordination with our refinery in Pascagoula,” said Pierre Breber, Executive Vice President of Chevron Downstream & Chemicals.

Assets include a refinery with a capacity to process approximately 110,000 barrels per day of light crude, direct pipeline connections to increasing industry and equity crude oil production, connections to major product pipelines as well as waterborne access to receive and ship crude oil and refined products. The 466-acre complex is in Pasadena, Texas. It comprises a 323-acre refinery including a tank farm with a storage capacity of 5.1 million barrels of crude oil and refined products, as well as 143 acres of additional land.

The acquisition will add to the refining network of CUSA, which includes a refinery in Pascagoula, Miss., two facilities in California, in El Segundo and Richmond, and the Salt Lake refinery in Utah.

The acquisition is subject to customary closing conditions, including regulatory approvals.

• Chevron Agrees with Petrobras to Buy Pasadena Refinery System for $350 Million

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The acquisition price reflects an approximate 8.6 times multiple of the assets' forecasted 2016 adjusted earnings before interest, taxes, depreciation and amortization. The acquisition will be effective October 1, 2015 and is expected to be immediately accretive to unitholders. In connection with the acquisition, Shell Midstream Partners increased its total borrowing capacity under its revolving credit facilities to $580 million. The acquisition is expected to close on or about November 17, 2015, subject to customary closing conditions. Shell Midstream Partners expects to fund the acquisition with proceeds from a capital markets transaction, borrowings under existing revolving credit facilities, cash on hand, or a combination thereof.

Highlights of the acquired assets:

• Auger is a 174 mile offshore Gulf of Mexico ("GoM") pipeline system that transports crude from producers in eastern Garden Banks and Keathley Canyon blocks. It shares a complementary strategic connection to Poseidon through SMI 205.
• Lockport is a crude storage terminal facility located southwest of Chicago with two million barrels of storage capacity that feeds regional refineries, while also offering strategic trading opportunities.

The terms of the acquisition were approved by the conflicts committee of the Board of Directors of the General Partner of Shell Midstream Partners, which is comprised entirely of independent directors. This committee was advised by Evercore Group, L.L.C. as to financial matters and Andrews Kurth LLP as to legal matters.

• Shell Midstream Partners, L.P. Announces Acquisition of Auger Pipeline System and Lockport Crude Terminal

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"TransCanada and its shippers remain absolutely committed to building this important energy infrastructure project," said Russ Girling, TransCanada's president and chief executive officer. "We will review our options to potentially file a new application for border-crossing authority to ship our customer's crude oil, and will now analyze the stated rationale for the denial."

Girling points out that TransCanada continues to have the support of American and Canadian workers, labor organizations, industry and most of all, the American and Canadian people. He adds with their continued support, the company believes that a pipeline will eventually be built as this is the safest, most economically efficient means of getting crude oil to market.

• Obama Denies Keystone XL Permit; TransCanada Will Review its Options

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The initial 60-mile segment from Mont Belvieu to Beaumont, Texas began service in September of 2014, followed by the 48-mile portion from Beaumont to Lake Charles, Louisiana in September of 2015. The remainder of the Aegis pipeline, which will extend to the Mississippi River corridor area, is on schedule for completion by the end of 2015.

The incremental capacity being offered reflects the continued strong interest in the Aegis pipeline and marks the second supplemental open season to expand the system. The expanded capabilities of the Aegis system, which are being achieved by the addition of pumps and related infrastructure, is expected to come online in stages through 2019, depending on the level of customer commitments.

• Enterprise Offering Additional Capacity on Aegis Ethane Pipeline System

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The proposed purchase price for each NTI common unit is comprised of $17.50 in cash and 0.2266 of a share of Western common stock. The proposed consideration represents a 15% premium to the 20-day volume weighted average price (“VWAP”) of NTI’s common unit price as of October 23, 2015, and represents aggregate consideration of $27.62 per NTI common unit based on the 20-day VWAPs for NTI and Western as of October 23, 2015. Assuming completion of the proposed transaction, NTI will become a wholly-owned subsidiary of Western and NTI common units will cease to be publicly traded. NTI’s 7.125% Senior Secured Notes due 2020 will remain outstanding.

Jeff Stevens, President and CEO of Western said, “We believe this proposed transaction enhances value for both the Western shareholders and NTI unitholders. The combination of Western and Northern Tier will simplify our corporate structure and create a stronger, more diverse company with enhanced growth opportunities and greater access to capital.”

The proposed transaction is subject to the negotiation and execution of mutually acceptable definitive documentation and approval by Western’s Board of Directors, NTI’s Conflicts Committee and the common unitholders of NTI.

Western owns 100% of the general partner of NTI and owns approximately 38% of the outstanding common units of NTI.

Northern Tier Energy is the owner of Saint Paul Park Refinery

• Western Refining Makes Offer to Acquire All Publicly-Traded Units of Northern Tier Energy LP

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The contract covers:

• engineering of the required second pipeline end terminations (PLETs),
• fabrication of the PLETs and piles,
• installation of the subsea production system(1), inclusive of associated project management, engineering and stalk fabrication.

Technip will leverage its integrated approach in the subsea business. Its operating center in Houston, Texas, USA, will perform the overall project management. The flowlines will be welded at Technip’s spoolbase in Mobile, Alabama, USA. The offshore installation is scheduled to be performed by the Deep Blue, the Group’s flagship vessel for deepwater pipelay.

Technip offers engineering capabilities in executing ultra-deepwater installation projects with continued cost effective solutions for its clients.

(1)The production system is comprised of dual 8-inch insulated flowlines associated with PLETs involving a manifold and associated suction piles being installed as part of this system.

• Technip awarded additional subsea contract for the Stones project development in the Gulf of Mexico

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“The sale results from a strategic assessment of the site and how it fits with our refining portfolio,” said Jerry Wascom, president of ExxonMobil Refining & Supply Company.

“ExxonMobil regularly adjusts its portfolio through investment, restructuring or divestment consistent with overall global and regional business strategies. We remain committed to a large, global refining portfolio as part of our integrated business strategy. We will continue to make significant investments across the globe to strengthen our facilities which are often advantaged by scale and integration with chemicals and lubricant manufacturing.”

Approximately 700 employees and 700 contractors work at the refinery and associated facilities. Employees are expected to be offered positions with PBF and existing third-party supply agreements, obligations, terms and conditions remain unchanged.

Subject to repairs to the refinery’s electrostatic precipitator and regulatory approval, change-in-control is anticipated to take place by mid-2016.

ExxonMobil is retaining a presence in California through ongoing production of oil and natural gas and sales of fuels and lubricant products. Exxon- and Mobil-branded retail sites in the state are unaffected by the agreement.

PBF recently contracted to purchase the Chalmette refinery in Louisiana through a separate, independent bidding process, in which ExxonMobil holds 50 percent interest.

• ExxonMobil to Sell Torrance Refinery to PBF Energy

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• Northern Tier Announces Unplanned Maintenance on the Saint Paul Park Refinery No. 2 Crude Unit

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This initial award consists of two identical trains, each with a nominal LNG production capacity of 2.0 million metric tons per annum (MMTPA), that combine Chart’s proven BAHX, Core-in-Kettle® and cold box technologies into an integrated system to support the delivery of North American natural gas as a competitively priced, prolific domestic and export resource. It is anticipated that a further award will be confirmed, by the latest, the first quarter of 2016 for an additional two trains, which would take the overall plant capacity to 8.0 MMTPA. All Chart equipment will be engineered and built in the U.S., with Chart’s waterside cold box fabrication facility, in New Iberia, Louisiana, located close to the project site.

“We are delighted with this award which is further demonstration of the benefits of a multi-train, modular concept, crucial in delivering the project aim of LNG to market in 2018. Establishing standardized, repeatable plant designs, centred on Chart’s BAHX technology, also lays the foundation for the fulfilment of future projects and opportunities for LNG Limited and Chart,” commented Mike Durkin, President of Chart Energy & Chemicals.

• Chart E&C Receives LNG Liquefaction Equipment Order for Magnolia LNG Project

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Shell has found indications of oil and gas in the Burger J well, but these are not sufficient to warrant further exploration in the Burger prospect. The well will be sealed and abandoned in accordance with U.S. regulations.

"The Shell Alaska team has operated safely and exceptionally well in every aspect of this year's exploration program," said Marvin Odum, Director, Shell Upstream Americas. "Shell continues to see important exploration potential in the basin, and the area is likely to ultimately be of strategic importance to Alaska and the US. However, this is a clearly disappointing exploration outcome for this part of the basin.”

Shell will now cease further exploration activity in offshore Alaska for the foreseeable future. This decision reflects both the Burger J well result, the high costs associated with the project, and the challenging and unpredictable federal regulatory environment in offshore Alaska.

The company expects to take financial charges as a result of this announcement. The balance sheet carrying value of Shell's Alaska position is approximately $3.0 billion, with approximately a further $1.1 billion of future contractual commitments. An update will be provided with the third quarter 2015 results.

Shell holds a 100% working interest in 275 Outer Continental Shelf blocks in the Chukchi Sea.

Operations will continue to safely de-mobilize people and equipment from the Chukchi Sea.

• Shell updates on Alaska exploration

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The Partnership acquired 25 percent of ArcLight’s 51.7 percent controlling interest in Delta House, a fee-based, semi-submersible floating production system (FPS) and associated oil and gas export pipelines in the deepwater Gulf of Mexico. In addition, as previously announced the Partnership intends to recommend to its board of directors the resumption of annualized distribution increases of approximately five percent, beginning with the distribution for the fourth quarter 2015 payable in February 2016.

The Partnership acquired the interest in Delta House for total consideration of $162 million, which equates to an Adjusted EBITDA multiple of approximately five times for the next twelve months and full-year 2016, and is immediately accretive to the Partnership’s current distribution. The acquisition was funded using a combination of net proceeds from the 7.5 million common unit offering that closed September 15, 2015, and borrowings under the revolving credit facility.

Revolving Credit Facility Upsize
On September 18, 2015, the Partnership executed an amendment to its revolving credit facility to increase borrowing capacity from $500 million to $750 million, with the option to further increase borrowing capacity to $900 million. The Partnership expects to use the credit facility to fund growth and for other Partnership purposes. The syndicate of 17 banks is led by Bank of America, N.A., as Administrative Agent, Collateral Agent, L/C Issuer and Lender. Natixis Bank, BNP, and NBH Capital Finance joined the credit facility as new lenders.

“The drop down of an initial interest in Delta House demonstrates ArcLight’s ongoing strong sponsorship of American Midstream and complements our existing eastern Gulf of Mexico operations to further expand our footprint into the operating core of the Mississippi Canyon, one of the most prolific regions of the Gulf of Mexico,” stated Steve Bergstrom, Executive Chairman, President and Chief Executive Officer. “Delta House is a world-class offshore production handling facility that contributes significant long-term, fee-based cash flows to American Midstream, increasing our fee-based gross margin to greater than 90 percent in 2016. The acquisition is immediately accretive and we intend to recommend the resumption of annualized distribution increases of approximately five percent, beginning with the distribution for the fourth quarter 2015.

“We are executing a multi-year growth plan to drive strong financial metrics in 2016 and beyond, including distribution coverage of approximately 1.2 times, leverage of approximately 4.0, and fee-based gross margin of greater than 90 percent. Importantly, acquiring an interest in Delta House provides significant strength to our balance sheet, and we do not anticipate accessing the equity capital markets for the remainder of 2015 or during 2016 unless industry and macroeconomic conditions improve or to finance accretive acquisitions at the then-current unit price. As we look ahead, we appreciate the support of existing and new lenders in the credit facility, which provides incremental financial flexibility to support near- and long-term growth as we remain focused on executing our growth strategy and delivering long-term, sustainable distribution growth.”

Overview of Delta House
Delta House is operated by LLOG Exploration Offshore, L.L.C. and is located in the Mississippi Canyon region of the deepwater Gulf of Mexico, with nameplate processing capacity of 80,000 barrels of oil per day (Bbl/d) and 200 million cubic feet of gas per day (MMcf/d), and peak processing capacity of 100,000 Bbl/d and 240 MMcf/d, respectively. Cash flows for Delta House are supported by a 100 percent, volumetric-tiered fee-based tariff structure with ship-or-pay components and life-of-lease dedications. Delta House commenced operations in April 2015 and currently has seven wells online with eight wells scheduled to be online by the end of 2015. Additional wells are in various stages of drilling and completion and are anticipated to be connected to the FPS in 2016 and beyond, and as a result, the FPS is expected to operate at approximately nameplate capacity for a minimum of four years.

• American Midstream Closes Acquisition of Delta House Interest and Increases Revolving Credit Facility by 50% to $750 Million

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The order is for electro-hydraulic steel tube control umbilicals, totaling approximately 60 kilometers (37 miles) in length. Product manufacturing is planned to be performed at Oceaneering’s umbilical facility in Panama City, Florida and is expected to commence in the fourth quarter of 2015 and be completed in the third quarter of 2017.

This contract is another award by Shell to Oceaneering for a state-of-the-art umbilical under an Enterprise Frame Agreement, which was executed in November 2012.

• Oceaneering Announces Shell Appomattox Umbilical Contract

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The scope of work included project management, fabrication and installation of 8-inch steel catenary risers and 40 miles (64 km) of 8-inch and 12-inch Pipe-in-Pipe (PIP) for the Big Bend and Dantzler field development projects in 7,000 feet (2,100 m) of water depth. It also included the design, fabrication and installation of eight subsea structures weighing up to 100 tonnes each. All project management activities were performed at EMAS’ office in Houston, with pipeline production and structures fabrication at the EMAS Marine Base (EMB) in Ingleside, Texas.

Since May 2015, Lewek Constellation has conducted more than 30 heavy lifts between 900 and 2,200 tonnes transferring rigid pipe reels, many of them in open water locations, for the Big Bend and Dantzler projects. This game-changing technology of multiple, transportable reels combined with heavy lift capability reduces the transit time and eliminates the need for direct spooling by the installation vessel, keeping the vessel in pipe-lay mode throughout the entire project. This effectively decouples Lewek Constellation from the spool base and takes the pipeline fabrication off the critical path.

“We are extremely proud of our achievements on these two field developments”, said Mr. Lionel Lee, Ezra Group CEO and Managing Director, “We are proud to announce a record for what we understand is the heaviest Pipe in Pipe (PIP) system ever deployed in the world using the reeling methodology, whilst proving the viability of our offshore reel-transfer technology in open waters. Our game-changing vessel used in combination with our unique transportable reel delivery system will offer clients more efficient pipe-lay options in ultra-deep water when compared to more traditional methods.”

Lewek Constellation and Lewek Connector are now mobilised to lay the pipeline and umbilicals on the Noble Energy-operated Gunflint development project.

• Ezra's Subsea Services Division, EMAS AMC's Lewek Constellation Completes Inaugural Reel Lay Projects

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FMC Technologies will provide Enhanced Vertical Deepwater Trees, subsea manifolds, topside controls, a control system, and a distribution system for the field, which lies in the Mississippi Canyon area of the eastern Gulf of Mexico in 7,200 feet of water, 140 nautical miles southeast of New Orleans.

"FMC Technologies has supported Shell's subsea requirements for more than two decades, and this project represents the continued strength of that relationship," said Tore Halvorsen, Senior Vice President, Subsea Technologies.

• FMC Technologies Awarded Contract for Shell Appomattox

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Wood Group Mustang successfully completed the conceptual and front-end engineering design phases of the project and is now providing detail engineering, procurement services, module fabrication oversight and construction engineering support services. Work is being conducted in Houston and Bogota, Colombia, via a collaborative work share model that provides an efficient, effective solution for FHR.

“We are pleased that Flint Hills Resources selected Wood Group Mustang to be the engineer for its Project Eagle Ford,” explained Curt Watson, president, Process Plants & Industrial at Wood Group Mustang. “Our project team has been engaged in this program since 2011 and has assisted FHR through each phase of the project’s evolution.”

Engineering is scheduled to be completed in mid-2016.

• Wood Group provides engineering services for Flint Hills Resources refinery upgrade

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The projects, which were previously announced as a key underpinning to fiscal year 2016 guidance provided in early July, have an estimated cumulative value of $330 million with each terminal having a working capacity ranging from 200,000 to 600,000 barrels.

"We are extremely proud to have been chosen by Dakota Access to receive this significant project award, recognizing our expertise in full terminal design and construction as well as our ability to meet exacting standards of safety and quality," said John Hewitt, CEO of Matrix Service Company.

Engineering on the project will begin immediately, with field construction on all six terminals expected to begin in January 2016 and be complete by late 2016.

• Matrix Service Company Awarded EPC of Crude Gathering Terminals Feeding the Dakota Access Pipeline

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This project, when completed, will consist of three separate gathering systems with an aggregate of approximately 130 miles of pipe. The gathering systems will deliver crude oil into the Sunoco Logistics Partners L.P. (NYSE: SXL) Delaware Basin Extension. The Pipeline is projected to be in service in the first half of 2016.

• Energy Transfer Partners Announces Binding Open Season for Crude Oil Pipeline in Texas and New Mexico

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“This project will grow our capacity and flexibility to process light crude oils,” said Jerry Wascom, president of ExxonMobil Refining and Supply Company. “Building on the recent increases in domestic oil and gas production, this investment further strengthens the competitiveness of the company’s strategic assets in North America and enhances U.S. energy security.”

The increase in capacity at the Beaumont refinery is made possible in large part by abundant, affordable supplies of U.S. light crude from shale and demonstrates ExxonMobil’s long-term view and disciplined approach toward advantaged business investments, and the company’s continuing commitment to American economic growth and job creation. Beaumont is well positioned to competitively supply high-demand growth markets around the U.S.

“ExxonMobil continues to strengthen its portfolio of world-class refining assets,” said Fernando Salazar, refinery manager, ExxonMobil’s Beaumont refinery. “The expanded crude unit at Beaumont refinery supports the company’s position as a leader in the global energy market by improving the production slate, and enabling improvement in the product yield in a highly energy-efficient manner that will further strengthen the industry-leading position of our assets.”

About ExxonMobil Refining & Supply

ExxonMobil Refining & Supply and its stewarded affiliates operate a global network of reliable and efficient manufacturing plants, transportation systems, and distribution centers that provide a range of fuels, lubricants, and other high-value products and feedstocks to our customers around the world.

About Beaumont Refinery

ExxonMobil’s Beaumont refinery is part of the company’s integrated operations in Beaumont, TX, that includes a 345,000 barrels of crude oil per day refinery, as well as chemical, lubricants and polyethylene plants. ExxonMobil has more than 2,000 area employees and its operations account for approximately 1 in every 7 jobs in the region. Its employees proudly support and volunteer for numerous community organizations and charitable contributions. In 2014, its Beaumont area employees raised more than $900,000 for the United Way of Beaumont and North Jefferson County.

• ExxonMobil to Expand U.S. Domestic Crude Processing Capacity at Beaumont Refinery

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The FERC staff concluded that construction and operation of the proposed projects  would result in limited adverse environmental impacts, but these impacts would be reduced to less‐than‐significant levels with the implementation of Magnolia LNG’s and KMLP’s proposed mitigations and the additional measures recommended in the DEIS.   

FERC set 8 September 2015 as the deadline for receipt of public comments on the DEIS.   Based on the Notice of Schedule for Environmental Review, previously issued by FERC on 30 April 2015, the Final Environmental Impact Statement (FEIS) is expected to be issued by FERC on 16 November 2015.
  
LNG Limited’s Managing Director and CEO, Mr. Maurice Brand said, “We are very pleased with our progress on the FERC regulatory aspects of the project and look forward to the receipt of the FEIS in November this year. Magnolia LNG is planning for Financial Close in first quarter 2016 with first LNG in December 2018”.

The entire FERC announcement posted on 17 July 2015 may be accessed at:

http://elibrary.ferc.gov/idmws/search/intermediate.asp?link_file=yes&doclist=14357942

ABOUT MAGNOLIA LNG:  

The Magnolia LNG project is 100% owned by Magnolia LNG LLC, which is a wholly owned subsidiary company of Liquefied Natural Gas Limited. The project comprises the proposed development of an 8‐mtpa LNG project on a 115‐acre site, located on an established LNG shipping channel in the Lake Charles District, State of Louisiana, United States of America. The project is based on the development of four LNG production trains of 2 mtpa each using the Company’s wholly owned OSMR® LNG process technology.  

Magnolia LNG’s business model provides liquefaction services to LNG buyers who pay a monthly fixed capacity fee, plus all LNG plant operating and maintenance costs.   LNG buyers contract for liquefaction services under two contract models – a Liquefaction Tolling Agreement, whereby the LNG export terminal is only responsible for processing natural gas into LNG, and an LNG Sales and Purchase Agreement under which the customer buys LNG on a free on board basis (FOB).   

ABOUT LIQUEFIED NATURAL GAS LIMITED

• Liquefied Natural Gas Limited is an ASX listed company (Code: LNG and OTC ADR: LNGLY) whose portfolio consists of 100% ownership of the following companies:
  • Magnolia LNG LLC (Magnolia LNG), a US‐based subsidiary, which is developing an 8 mtpa LNG export terminal, in the Port of Lake Charles, Louisiana, USA;
  • Bear Head LNG Corporation (Bear Head), a Canadian based subsidiary, which is developing an 8 mtpa LNG export terminal in Richmond County, Nova Scotia, Canada with potential for further expansion; 
  • Gladstone LNG Pty Ltd, a subsidiary which is progressing the 3.8 mtpa Fisherman’s Landing LNG (FLLNG) Project at the Port of Gladstone in Queensland, Australia; and
  • LNG Technology Pty Ltd, a subsidiary which owns and develops the Company’s OSMR® LNG liquefaction process, a mid‐scale LNG business model that plans to deliver lower capital and operating costs, faster construction, and improved efficiency, relative to larger traditional LNG projects.

• Magnolia LNG Receives Draft Environmental Impact Statement

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This FPSO, constructed by converting a crude tanker, will be installed for use in development at the Stones Oil Fields (*2) off the US coast of the Gulf of Mexico. The FPSO will be operated by Shell Offshore Inc. and is scheduled to enter into operation from 2016.

The number of projects being planned for development in offshore oil and gas fields, including those in the Gulf of Mexico, is gradually increasing, while offshore oil production is projected to increase along with mid- to long-term growth in global demand for oil. Once installed, the FPSO Turritella will be operating at the world’s deepest such offshore development site, covering a water depth of some 2900 meters.

This project marks the fourth such for MC. Based on a long-term cooperation agreement signed with SBM in February 2011, MC has since participated in the development of an FPSO for use in the northern part of Sapinhoá oil field and two FPSOs for use in the BM-S-11 block located off the coast of Brazil. Through this long-term cooperation agreement, MC will proactively seek to continue expanding its FPSO business worldwide.

Outline of FPSO Turritella

• Oil production capacity - 60,000 bbl/day
• Gas treatment capacity - 15mmscf/day
• Oil storage capacity - 1.6 mil. bbl
• Mooring Type - Disconnectable Turret (*3)
• Percentage of Participation - SBM 55% / MC 30% / NYK Line 15%
• Charter Period - Initial period of 10 years with future extension options up to a total of 20 years

(*1) FPSO: Floating Production, Storage & Offloading System. The system stores crude oil produced from offshore oil fields after removing solid materials, water and gas, then offloads to shuttle tanker by a certain shipment volume.

(*2) Stones Oil Fields: An offshore oil field located 320 kilometers off the coast of Louisiana, U.S.A, at a water depth of 2,900 meters. Stones is owned by Shell Offshore Inc.

(*3) Disconnectable Turret: Anchorage system which enables the FPSO to be detached and towed away in the event of an approaching hurricane.

• Mitsubishi Corporation Participates in FPSO project in the Gulf of Mexico

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