Oil
Oil Leak Shuts Pipeline Feeding Libya’s Largest Refinery
Libya’s National Oil Corporation halted flow from the Hamada oilfields after an oil leak was detected on a pipeline near the Zawiya refinery, the country’s largest. Recovery and investigation efforts are underway to address environmental impacts.
Caspian Pipeline Consortium Announces Significant Increase in 2025 Oil Exports
The Caspian Pipeline Consortium, which supplies oil from Kazakhstan and Russia via a Black Sea terminal, said on Wednesday it shipped more than 28 million metric tons (MMt) of oil from January to May 23, 1.4 MMt more than a year earlier.
U.S.-Licensed Buyers of Venezuelan Crude Load Final Cargoes as Deadline Passes
The U.S. Treasury and State departments gave companies including Chevron, Maurel & Prom and Repsol until May 27 to receive cargoes of Venezuelan crude, fuel and byproducts as authorizations granted in recent years were revoked in March as part of the Trump administration's harder stance towards the sanctioned country.
U.S. Judge Extends Citgo Share Auction Bidding Deadline to June 2
A U.S. federal judge has extended to at least June 2 a period for bidders to submit rival bids in a court-organized auction of shares in the parent of Venezuela-owned refiner Citgo Petroleum, according to a filing released on Tuesday.
Pipeline Operators Favor Buying Over Building Despite Trump Push for Projects
Despite fast-tracked approvals under the Trump administration, pipeline firms like Energy Transfer, Kinder Morgan and Williams are prioritizing M&A deals over new builds.
Canadian Oil Exports Pivot Toward China, Undermining U.S. Energy Influence
Canada's seaborne crude exports to China surpassed flows to the U.S. for the first time in April, a shift driven by trade tensions and Trans Mountain pipeline expansion.
MOL, MVM Partner to Expand Azeri Oil Shipments to Hungary and Slovakia
Hungary’s MOL and MVM will jointly charter tankers to ship up to 160,000 metric tons of Azeri crude annually via Turkey’s BTC pipeline, aiming to diversify oil supply for Hungary and Slovakia.
ConocoPhillips CEO Warns U.S. Shale Output Could Plateau at Current Oil Prices
ConocoPhillips CEO Ryan Lance said U.S. shale oil output could plateau if prices remain in the $60–$70 range, with declines likely below $60. He also projected LNG demand to rise sharply, requiring growth from both Qatar and the U.S.
North Dakota Oil Producers to Cut Rigs as Prices Fall
Oil producers in North Dakota are planning to cut rigs and frac crews as prices dip below breakeven levels, with the state expecting a drop in rig count to 27 by August, according to its mineral resources department.
Oil Companies Face Spill Liability Under New Guyana Law
Guyana’s parliament has passed a bill requiring oil companies to provide financial assurance for oil spills and comply with stricter regulations, holding them liable for damages as offshore production climbs past 900,000 barrels per day.
Azerbaijan Reports 3.1% Drop in BTC Pipeline Oil Exports
Azerbaijan’s oil exports via the BTC pipeline dropped 3.1% year-on-year to 9.3 million metric tons in January–April, with total transit volumes also down, according to official government data.
Line on Trans Niger Pipeline Shut After Spill in Ogoniland
Renaissance Energy shut down a line on Nigeria’s Trans Niger Pipeline following an operational oil spill near the B-Dere community. Cleanup efforts are underway after the pipeline was clamped and the leak contained.
China Overtakes U.S. as Leading Buyer of Crude on Trans Mountain Pipeline
China has overtaken the U.S. as the top buyer of Canadian crude shipped through the Trans Mountain pipeline, as trade tensions and sanctions reshape global oil flows and increase Asia-bound exports from Alberta.
Strathcona Acquires Canada’s Largest Crude-by-Rail Hub, Sells Assets for $2.84 Billion
Strathcona Resources has acquired the Hardisty Rail Terminal, Western Canada’s largest crude-by-rail hub, and sold its Montney assets for $2.84 billion as part of its midstream-focused consolidation strategy.
Saudi Crude Flows to China Expected to Stay High in June
Saudi Arabia is set to maintain oil exports to China at a one-year high in June, with 48 million barrels allocated amid increased OPEC+ output and strong demand from Chinese refiners.
Aramco Signs $90 Billion in U.S. Deals as Trump Gulf Visit Sparks New Tie-Ups
Saudi Aramco announced $90 billion in preliminary deals with major U.S. firms during Trump’s Gulf visit, highlighting expanded partnerships across energy, AI, and digital infrastructure.
Pemex to Cut Crude Exports as Olmeca Refinery Ramps Up, Official Says
Pemex plans to reduce crude oil exports as its new Olmeca refinery begins processing 100,000 bpd, increasing local capacity to 1.2 million bpd, a PMI official said.
Oando Restores Crude Pipeline Operations in Nigeria After Multiple Spills
Nigerian oil firm Oando has completed repairs on its Bayelsa state pipeline after four sabotage-related oil spills. The company shut down affected wells and plans future upgrades to reduce risk.
MPLX Acquires Whiptail Midstream’s San Juan Basin Assets for $237 Million
MPLX has acquired Whiptail Midstream’s San Juan Basin gathering systems for $237 million, expanding its oil, gas, and water infrastructure footprint in the Gallup oil play.
U.S. House Bill Seeks $1.5 Billion to Refill Strategic Petroleum Reserve
A U.S. House budget bill proposes over $1.5 billion to replenish and maintain the Strategic Petroleum Reserve and cancels a planned oil sale, aiming to rebuild the emergency crude stockpile.
China’s April Crude Imports Rise 7.5% on Iran, Russia Supply Surge
China imported 11.69 million bpd of crude oil in April, up 7.5% year-over-year, led by strong deliveries from Iran and Russia. Stockpiling during refinery maintenance and discounted sanctioned barrels supported the increase.
U.S. Oilfield Giants Brace for Tough Times as Price Slide Rattles Producers
Top U.S. oilfield firms SLB, Halliburton, and Baker Hughes brace for a downturn as falling oil prices force producers to cut drilling budgets and scale back activity, particularly in North America.
Mexico's Pemex Reports Leaks on Oil Pipeline Supplying Dos Bocas Terminal
Pemex reported and addressed leaks on an oil pipeline transporting crude from its Akal-C platform to the Dos Bocas terminal in Tabasco, Mexico, with cleanup underway and operations set to resume.
Global Energy Exports Slide as Trade Risks Weigh on Oil and Fuel Demand
Global oil, LNG and fuel exports slowed in early 2025 as rising trade tensions and tariffs disrupt flows, pressuring demand across major import markets and raising risks for energy exporters.
Tidewater Midstream to Acquire Segment of Pembina's Western Pipeline System
Tidewater Midstream is acquiring a segment of Pembina Pipeline's 234-mile Western pipeline system in British Columbia, Tidewater announced on May 6. The deal secures long-term access to crude for the Prince George Refinery and is expected to close by September.
Nigeria’s Renaissance Halts Oil Production After Pipeline Spill
Nigeria’s Renaissance Africa Energy has halted oil production after a spill on the Okordia-Rumuekpe pipeline, with initial reports citing possible vandalism in the oil-rich Niger Delta.
Saudi Arabia Can Control Oil Supply, But Demand May Be Its Achilles’ Heel
Saudi Arabia is flexing its oil supply control, but weakening global demand could undermine its strategy and pose challenges.
Sunoco to Acquire Parkland in $9 Billion Deal as Americas Fuel Market Consolidates
Sunoco will acquire Parkland Corporation in a $9.1 billion cash and equity deal, expanding its North American fuel network and maintaining Canadian operations, the companies announced.
Enbridge Line 5 Tunnel Permit Decision Expected This Fall
Enbridge’s Line 5 tunnel project is advancing toward a key milestone, with the U.S. Army Corps of Engineers targeting a fall decision on the project’s permit following a public comment period set for late May.
Venezuela Oil Exports Drop 20% as Chevron Cargoes Canceled Over Sanctions Dispute
Venezuela's oil exports dropped 20% in April after state-run PDVSA canceled Chevron cargoes over sanctions-related payment issues, leaving ports idle and shipments returning.
- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Tallgrass to Build New Permian-to-Rockies Pipeline, Targets 2028 Startup with 2.4 Bcf Capacity
- TC Energy Approves $900 Million Northwoods Pipeline Expansion for U.S. Midwest
- New Alternatives for Noise Reduction in Gas Pipelines
- EIG’s MidOcean Energy Acquires 20% Stake in Peru LNG, Including 254-Mile Pipeline
- Construction Begins on Ghana's $12 Billion Petroleum Hub, But Not Without Doubts
- DOE Considers Cutting Over $1.2 Billion in Carbon Capture Project Funding
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
