Oil
CNOOC Stockpiles Russian Oil at New Reserve Base in China
State-run China National Offshore Oil Co., one of the country's top importers of Russian oil, has in recent months been pumping shipments of ESPO blend from Russia's Far East into a newly launched reserve base, according to traders and tanker trackers.
Oil Prices Dip as Market Reacts to Iran's Attack on Israel
Oil prices fell at Asia's open on Monday, as market participants dialed back risk premiums following Iran's attack on Israel late on Saturday, which the Israeli government said caused limited damage.
Cenovus Energy to Invest $1.5 Billion in Ohio Refineries Over Next 5 Years
Cenovus Energy said it plans to invest $1.5 billion in its Ohio refineries over the coming five years, including Lima and Oregon.
Niger Signs $400 Million Crude Oil Deal with Chinese Firm CNPC
Niger has signed a memorandum of understanding with Chinese state-owned oil giant China National Petroleum Corp. worth $400 million linked to the sale of crude oil from its Agadem oilfield, Niger state television RTN reported late on Friday.
Motiva Restarts Two CDUs at Port Arthur Refinery After Power Outage
Motiva Enterprises restarted two crude distillation units (CDUs) overnight at its 626,000 barrel-per-day (bpd) Port Arthur, Texas refinery, the nation's largest, after a power outage on Wednesday, people familiar with plant operations said on Thursday.
North Dakota's Bakken Rig Count Drops as Consolidation Sweeps Oil Patch
Operators in North Dakota's Bakken oilfield reduced their rig count to 36 in April, down from 40 in March, marking the lowest number this year as a wave of consolidation has swept through the oil patch, state regulators said on Friday.
Kansas City Fed Survey: Oil, Gas Activity Declines in U.S. Midwest, Rockies During Q1 2024
Oil and gas energy activity in Oklahoma, Colorado and the northern part of New Mexico fell in the first quarter of 2024, the Federal Reserve Bank of Kansas City, Missouri, said on Friday in its quarterly survey of energy activity.
U.S. Finalizes Big Reforms to Federal Oil and Gas Drilling
President Joe Biden's administration on Friday finalized a range of reforms designed to boost returns and address environmental harms from oil and gas drilling on public lands.
IEA Trims Oil Demand Forecast on Weakness in Wealthier Countries
The International Energy Agency (IEA) trimmed its forecast for 2024 oil demand growth on Friday, citing lower than expected consumption in OECD countries and a slump in factory activity.
ADNOC Explored Potential Takeover of BP, Sources Say
The United Arab Emirates' state-owned oil company recently considered buying Britain's BP but the deliberations did not progress beyond preliminary discussions, people familiar with the matter told Reuters.
Trafigura Consortium in Talks to Buy Exxon Oil Refinery in France
Rhone Energies, a consortium of commodity trader Trafigura and Entara LLC, is in exclusive negotiations with Exxon Mobil's ESSO SAF to acquire the Fos-sur-Mer refinery in southern France and the Toulouse and Villette de Vienne terminals.
Global Partners Acquires Four Liquid Energy Terminals from Gulf Oil for $212 Million
Global Partners LP has announced the successful closing of its acquisition of four liquid energy terminals from Gulf Oil Limited Partnership for $212.3 million.
Mexican Pemex Crude Output Reduced After Platform Fire, Source Says
Mexican Pemex crude oil production is down some 20,000 barrels per day following a fire at an offshore platform on Saturday that left several injured and at least one dead, a source at the state energy company said.
Biden Administration Says Enbridge Pipeline Shutdown Order Should Be Reconsidered
The Biden administration has urged a U.S. appeals court to tell a lower court to rethink its order that would require Canadian operator Enbridge to drain portions of an oil pipeline that runs through Native American tribal land in Wisconsin, according to a court filing made public on Wednesday.
Former Shell CEO: Shell at Disadvantage to U.S.-Listed Rivals
Shell's former CEO, Ben van Beurden, said on Tuesday that European oil and gas companies will find it increasingly difficult to compete with U.S.-listed rivals.
Occidental to Resume GoM Production Following Temporary Shutdown Due to Oil Spill
Occidental Petroleum said on Wednesday production is expected to commence in the coming days in the eastern Gulf of Mexico (GoM) after some operations were shut for about five months.
U.S. Gulf Coast Heavy Crude Oil Prices Firm as Supplies Tighten
Prices for heavier crude oil along the U.S. Gulf Coast have climbed in recent weeks, trading at a rare near-par with lighter oil, a sign of supply tightness that could add to rising gasoline prices.
U.S. Coast Guard Clears Louisiana Waters After Main Pass Oil Gathering Pipeline Integrity Test
The Unified Command completed a line integrity test on the Main Pass Oil Gathering (MPOG) company's pipeline system near Plaquemines Parish, southeast of New Orleans, the U.S. Coast Guard said on Monday.
Chesapeake, Southwestern $7.4 Billion Merger Delayed by FTC's Request for More Information
Chesapeake Energy and Southwestern Energy said on Friday the closing date of their proposed $7.4 billion merger has been pushed back to the second half of the year after receiving a U.S. regulator's second request for information.
Iraq to Restart Kirkuk-Ceyhan Pipeline as Kurdish Talks Stall
The reopening of the Kirkuk-Ceyhan pipeline, which has been shut for a decade, would provide a rival route to a pipeline from the Kurdistan region that has been shut for a year as talks between Baghdad and the KRG on resuming exports have stalled.
Despite $90 Crude, U.S. Oil Output Capped by Weak Natural Gas Prices
U.S. crude oil prices last week climbed to their highest this year, but a weak natural gas market, steeper costs and a focus on shareholder returns over new production are keeping shale drillers from big output increases in the world's top oil and gas producer.
AMPP Unveils New Guide to Enhance Pipeline Safety Through Corrosion Control
AMPP unveils a comprehensive guide to enhance pipeline safety through corrosion control, aligning with the latest PHMSA regulations. Developed by industry experts, the guide offers practical strategies for U.S. gas transmission operators and valuable insights for international counterparts, all aimed at safeguarding pipeline integrity.
Exxon Forecasts Decline in First-Quarter Profit Amid Weaker Oil, Gas Prices
Exxon Mobil on Wednesday signaled first-quarter operating results would drop over the prior quarter on weaker oil, gas prices and a big loss in fuel derivatives, a securities filing showed.
Enterprise Products Partner's Texas Gulf Coast Oil-Export Facility License Upheld by U.S. Court
A U.S. appeals court on Thursday upheld federal approval of a deepwater oil-export facility planned off the Texas Gulf Coast, saying the proposed Enterprise Products Partners facility had met environmental review criteria.
Pemex's Tupilco Profundo Field to Boost Mexico's Output by 117 MMbbl Oil, 124 Bcf Gas
Mexican state energy company Pemex plans to produce 116.9 million barrels of oil and 124.4 billion cubic feet of natural gas from the Tupilco Profundo field during its lifespan, the oil regulator said on Thursday.
Surprise May Start for Trans Mountain Pipeline Expansion Leaves Analysts Puzzled
Trans Mountain's expanded oil pipeline system will start commercial operations on May 1, the Canadian government-owned company said late on Wednesday, surprising analysts with an earlier than expected commencement on the long-delayed $25.2 billion project.
U.S. Halts Louisiana SPR Contracts Due to High Oil Prices
The U.S. Department of Energy on Wednesday said it will not award oil supply contracts for Louisiana's Bayou Choctaw Strategic Petroleum Reserve (SPR) site in August and September due to high oil prices.
Trans Mountain's Expanded Pipeline System to Begin Operations on May 1
Trans Mountain's expanded oil pipeline system will start commercial operations on May 1, the Canadian company said on Wednesday.
Biden Administration Cancels Latest Oil Reserve Refill Plan Amid High Prices
The U.S. has canceled the purchase of about 3 million barrels of oil for the Strategic Petroleum Reserve due to rising prices, slowing down the pace of replenishment after a historic sale from the emergency stockpile in 2022.
Lunate Acquires 40% Stake in ADNOC Pipeline Assets from BlackRock and KKR
Abu Dhabi investor Lunate said on Wednesday it had bought a 40% stake from private equity firms BlackRock and KKR in the entity that leases Abu Dhabi National Oil Company's (ADNOC) oil pipelines.
- Keystone Oil Pipeline Resumes Operations After Temporary Shutdown
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
- Enbridge to Invest $500 Million in Pipeline Assets, Including Expansion of 850-Mile Gray Oak Pipeline
- Williams Delays Louisiana Pipeline Project Amid Dispute with Competitor Energy Transfer
- MEG Energy Confirms Trans Mountain Pipeline Expansion to Begin Line Fill in April
- Evacuation Technologies to Reduce Methane Releases During Pigging
- U.S. Regulators Approve Mexico Pacific LNG's Saguaro Connector Pipeline
- Editor’s Notebook: Nord Stream’s $20 Billion Question
- Enbridge Receives Approval to Begin Service on Louisiana Venice Gas Pipeline Project
- Russian LNG Unfazed By U.S. Sanctions
