Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Shell Midstream Partners says offshore, onshore systems to drive cash delivery

    Shell Midstream Partners says offshore, onshore systems to drive cash delivery

    October 29, 2021
    Share
    Facebook Twitter LinkedIn WhatsApp
    Gulf of Mexico oil production facilities

    News wire — Shell Midstream Partners said on Friday that its offshore and onshore crude and product systems will mainly drive its cash delivery.

    Deepwater projects in the Gulf of Mexico including Vito and PowerNap will flow into the company’s systems and not only replenish, but grow the company’s cash flows in the midterm, the company said during its third quarter earnings call.

    “With our assets and the ongoing activity in the Gulf of Mexico, we believe the region will continue to grow,” said Chief Executive Steve Ledbetter.

    The company also intends to expand in the Auger corridor, an offshore corridor pipeline that transports crude from the central Gulf of Mexico. The expansion would capture new production in the area that is ready to come online in the midterm, the company said.

    Investments in positions such as the company’s intended expansion to its Lockport storage terminal will drive onshore growth, it said.

    The company expects demand to return to pre-COVID levels, it said.

    Shell Midstream is also evaluating using excess cash for a potential buyback program or increasing distributions in the future.

    “Timing of that will be as we move along and grow excess cash through the cycle,” Ledbetter said.

    • Reuters (Reporting by Stephanie Kelly; Editing by Steve Orlofsky)
    • Follow us on twitter

    Related News

    Nigeria backs TotalEnergies on dormant assets, oil production boost

    Global energy demand hits record high as renewables soar

    SLB partners with Cactus to advance autonomous drilling solutions

    Comments are closed.

    E-book
    Resilience Exhibition

    Latest News

    Nigeria backs TotalEnergies on dormant assets, oil production boost

    June 25, 2025

    Global energy demand hits record high as renewables soar

    June 25, 2025

    Ghana approves $2.8bn debt relief deal with creditor nations

    June 25, 2025

    SLB partners with Cactus to advance autonomous drilling solutions

    June 25, 2025

    Niger miners say output will continue at nationalised uranium mine

    June 25, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.