Oil

Russia's Transneft Says Part of Druzhba Oil Pipeline in Ukraine Suspended

A section of the Druzhba oil pipeline in Ukraine has been partially suspended, Russia's TASS news agency reported on Wednesday, citing the state-owned pipeline operator Transneft.

Yemen's Houthis Attack Al-Dhabba Oil Terminal, Force Ship to Leave

Yemen's Houthis attacked al-Dhabba oil terminal in Hadhramaut province on Monday, the group and Yemen's internationally recognized government said.

Shell's Zydeco Oil Pipeline Running at Reduced Capacity

Shell Pipeline Co.'s Zydeco oil pipeline from Houston to Port Neches, Texas, is operating at reduced capacity due to project work at Port Neches, and is expected to remain at reduced capacity until mid to late December, the company said on Thursday.

White House Asks Congress for $500 Million to Modernize Oil Reserve

The Biden administration has asked Congress for $500 million to modernize the U.S. strategic petroleum reserve (SPR), a document outlining the request shows. The SPR oil is stored in hollowed-out, underground salt caverns that can shift and potentially require maintenance when petroleum is removed and replaced.

Oil Prices Settle Higher on Druzhba Oil Pipeline Disruption

Oil prices rose on Tuesday and settled higher after news that oil supply to Hungary via the Druzhba oil pipeline has been temporarily suspended due to a fall in pressure. Russia's state-owned pipeline monopoly Transneft has been notified by Ukraine of the pipeline disruption, the RIA news agency quoted Transneft as saying on Tuesday.

Oil Refiner Citgo Petroleum Reports $477 Million Third Quarter Profit

Oil refiner Citgo Petroleum on Thursday reported third quarter earnings of $477 million on strong margins and higher throughput at its three U.S. oil processing plants.

US Allows Transactions to Free Sanctioned Oil Tanker Stranded in Indonesia

The Indonesian navy has been trying to free the Djibouti-registered ship, Young Yong, which ran aground off Indonesia's Riau Islands on Oct. 26 near a gas pipeline.

Uganda Says First Oil in April 2025, Eyes China for Pipeline Funding

Uganda aims to start commercially pumping its oil reserves in April 2025, with China being considered as a potential source of funds to develop an export pipeline, Uganda's energy minister said on Tuesday.

US Sells Last Batch of Emergency Reserve Oil from Historic Release

Oil

The U.S. Department of Energy on Thursday said it sold 15 million barrels of oil from the Strategic Petroleum Reserve to six companies, completing the last batch of the largest-ever release from the stockpile announced by President Joe Biden in March.

EIA: US Crude Stocks Down, Refining Runs Rise

Oil

Crude oil and gasoline stocks fell in the most recent week, while refiners ramped up activity ahead of the heating season with inventories already tight, the U.S. Energy Information Administration (EIA) said on Wednesday.

Serbia's New Government Makes Energy Infrastructure Top Priority

The Serbian parliament appointed a new government on Wednesday whose main priorities are EU membership and investment in oil and gas pipelines and other energy infrastructure.

China's Oil Imports Fall as Pipeline Gas, LNG Rebound

China's crude oil imports in September were 2% below their level a year earlier as independent refiners curbed throughput amid thin margins and lackluster demand, but natural gas imports bounced back.

Biden to Announce Emergency Oil Sales to Prevent Price Spikes

U.S. President Joe Biden will announce a plan on Wednesday to sell off the last portion of his release from the nation's emergency oil reserve by year's end and detail a strategy to refill the stockpile when prices drop, administration officials said.

US Could Sell More Oil from Emergency Reserve This Week

Oil

The Biden administration plans to sell more oil from the U.S. Strategic Petroleum Reserve in a bid to dampen fuel prices before next month's congressional elections, according to three sources familiar with the matter.

Sources: Exxon's Russian Oil Output Collapsed After Rejecting Local Tanker Insurance

Oil

Oil output at the giant Exxon-led Sakhalin-1 Russian Pacific project collapsed following the U.S. major's refusal to accept local insurance for tankers after Western insurers pulled out due to sanctions, several industry sources told Reuters.

Exxon Exits Russia Empty-Handed with Oil Project 'Unilaterally Terminated'

Exxon Mobil Corp. said on Monday that it left Russia completely after President Vladimir Putin expropriated its properties following seven months of discussions over an orderly transfer of its 30% stake in a major oil project.

Druzhba Pipeline Leak Reduces Russian Oil Flows to Germany

Germany said on Wednesday it was receiving less oil but still had adequate supplies, after Poland found a leak in the Druzhba pipeline that delivers crude from Russia to Europe that Warsaw said was probably caused by an accident rather than sabotage.

US Sells Oil from Emergency Reserve to Marathon, Equinor, Others

Oil

The United States has sold a 10.15-million-barrel batch of oil from the Strategic Petroleum Reserve to eight companies, the Department of Energy said on Friday.

Big Decline in Global Oil Production Capacity Surplus Cited

Oil

(P&GJ) — Preliminary estimates from EIA’s Global Surplus Crude Oil Production Capacity shows, as of May 2022, surplus capacity in non-OPEC (Organization of the Petroleum Exporting Countries) countries decreased by 80% compared with 2021.

CPC Terminal Repairs to Delay Russian, Kazakh Crude Exports

Russian and Kazakh oil exports via the Caspian Pipeline Consortium's (CPC) Black Sea terminal face at least one month's disruption each once repairs begin on two of its three single mooring points, CPC confirmed on Tuesday.

Australia's Santos Moves Forward with $2.6 Billion Alaska Oil Project

Australia's Santos Ltd. said on Wednesday it will move ahead with developing a $2.6 billion Alaskan oil project in a surprise decision that sent the energy producer's shares lower despite it posting a record first-half profit.

Two Oil Pipelines Destroyed by Explosives in Nigeria, Officers Arrest Four

Nigerian police said on Tuesday two oil pipelines that feed the Brass export terminal, one of Nigeria's export streams operated by Italian group Eni, were recently blown up by explosives.

EIA: Permian Oil Output Forecast to Hit Record High in September

Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 79,000 barrels per day (bbl/d) to a record 5.408 million bbl/d in September, the U.S. Energy Information Administration (EIA) said in its productivity report on Monday.

Kazakhstan Plans to Sell Crude Oil Via Azeri Pipeline to Bypass Russia

Kazakhstan is expected to sell some of its crude oil through Azerbaijan's biggest oil pipeline from September, as the nation seeks alternatives to a route Russia threatened to shut, three sources familiar with the matter said.

Oil Falls as Druzhba Pipeline Resumes Flows, US Stocks Build

Oil prices fell on Wednesday as flows on the Russia-to-Europe Druzhba pipeline resumed and after U.S. crude stocks rose far more than anticipated.

Caspian Pipeline Consortium Says Oil Supplies Significantly Down

Oil

Caspian Pipeline Consortium, which connects Kazakh oil fields with the Russian Black Sea port of Novorossiisk, reported last week that supplies were significantly down, without providing figures.

Oil Prices Fluctuate on Russian Pipeline Constraints, Recession Fears

Oil prices see-sawed on Tuesday, as worries that a slowing economy could cut demand vied with news that some oil exports had been suspended on the Russia-to-Europe Druzhba pipeline that transits Ukraine.

US Coast Guard Responds to Oil Spill in Terrebonne Bay, Louisiana

The U.S. Coast Guard said on Monday it was responding to an oil spill at the Hilcorp Caillou Island facility in Terrebonne Bay, Louisiana.

Governor: Third Oil Storage Tank Collapses in Cuba Terminal Following Fire, Spill

A third crude tank caught fire and collapsed at Cuba's main oil terminal in Matanzas, its governor said on Monday, as an oil spill spread flames from a second tank that caught fire two days earlier in the island's biggest oil industry accident in decades.

US Emergency Crude Stockpile Falls to Lowest in 37 Years

The U.S. emergency crude oil stockpile fell by 4.6 million barrels last week to its lowest level since May 1985, according to the Department of Energy on Monday.