Oil
Senate Committee to Examine Oil and Gas Pipeline Infrastructure Next Week
On June 14, the Senate Energy and Natural Resources Committee will conduct a hearing to examine oil and gas pipeline infrastructure and the economic, safety, environmental, permitting, construction, and maintenance considerations associated with such infrastructure. The hearing will be broadcast li..
Holly Energy Buys Interest in Cheyenne Pipeline
Holly Energy Partners acquired half interest in Cheyenne Pipeline LLC, owner of the Cheyenne Pipeline, for $42.5 million. The other half of the assets are owned by an affiliate of Plains All American Pipeline, which will continue to operate the pipeline. The 87-mile crude oil pipeline, which runs f..
Colorado's New, Higher Oil and Gas Fines Are Biting Industry
Colorado is imposing heftier fines on energy companies as the state struggles to resolve conflicts between growing cities and big oilfields at their doorstep, an Associated Press analysis shows. Regulators say the tougher penalties for breaking health, safety and environmental rules are pro..
Sierra Club Files Suit Against New Construction of Bakken Pipeline
The Iowa branch of the Sierra Club has filed a lawsuit against the state’s Utilities Board (IUB) and Dakota Access LCC in an effort to block the construction of a pipeline that would connect North Dakota’s energy resources to the southern half of the United States. Wally Taylor, a lawyer for the na..
Iowa Board Moves Toward Allowing Pipeline Project to Begin
DES MOINES, Iowa (AP) — The Iowa Utilities Board moved closer Wednesday to allowing a Texas oil pipeline company to begin construction in Iowa in areas for which it has landowner approval and permits, though construction still will have to wait in zones that are under federal jurisdiction. The thre..
Iowa Utilities Board to Meet Wednesday on Pipeline Project
DES MOINES, Iowa (AP) – The Iowa Utilities Board has called a meeting for Wednesday to consider allowing construction to begin on an oil pipeline in areas outside federal jurisdiction. Houston-based Dakota Access LLC wants to begin digging the Iowa portion of a 1,150-mile pipeline from North Dakota..
Militants Shut Down Chevron's Escravos, Onshore in Nigeria
WARRI, Nigeria (AP) — Militants bombed a pipeline feeding electricity to Chevron’s Escravos terminal Thursday, shutting down the U.S.-based oil major’s onshore operations in Nigeria, the attackers and residents said. It was the third assault on a Chevron Nigeria facility this month. It’s the latest..
Memorial Day Gasoline Prices Lowest since 2009
The U.S. average retail price for gasoline was $2.30 per gallon (gal) on May 23, 47 cents per gallon (cents/gal) lower than at the same time last year, and the lowest average price just before Memorial Day weekend (the start of the summer driving season) since 2009. Lower gasoline prices reflect low..
Why $50 Oil Is Here To Stay
Now that oil prices have rebounded to $50 per barrel, will U.S. shale drillers turn the taps back on? That is the million dollar question that the oil markets still do not have a clear answer on. Last year, when oil prices rebounded from $44 per barrel in March to $60 in June, the rig count leveled..
2015 Worst Year For Oil Discoveries Since 1952
A report by Rystad Energy has revealed that new oil discoveries in 2015 totaled 12.1 billion barrels, which is the least amount of new oil discovered in a single year since 1952. Last year was also the fifth year in a row in which the amount of new reserves discovered was smaller than in the previo..
Why Did Saudi Arabia Kill OPEC?
The OPEC meeting is only a week away, but the chances of a positive result are as remote as ever. Rising oil prices, the heightened rivalry between Saudi Arabia and Iran, and Saudi Arabia’s willingness to go it alone will make a deal all but impossible. First of all, Iran is not in a cooperative mo..
France Tapping Fuel Stocks as Strikes Cause Gas Shortages
PARIS (AP) — France has started using its fuel reserves to deal with gasoline shortages caused by strikes and protests over a bill weakening worker protections. Unions are targeting the nation’s gas tanks, railroads and electricity network this week as they try to push the government to drop the la..
Shell: Pipeline Fixed after California Oil Spill
Officials at Shell Oil Co. say crews have repaired an underground pipeline after it broke and spilled up to 21,000 gallons of oil in rural Northern California. Company spokesman Ray Fisher said Tuesday that workers are running small amounts of oil through the pipeline to test it and are working on ..
BP Faces Setback in World’s Largest Unexplored Oil Basin
As if the current oil markets weren’t tough enough for producers, companies are increasingly finding that regulators are making it harder to drill new sources of oil. For instance, BP was recently told by regulators that it will need to revise and resubmit its plan to explore for oil off of the Sout..
ITC Seeks Shippers for Pipeline from Pasadena Terminal
ITC Pipeline Company announced it launched an open season for a new petroleum products pipeline system south of Houston in Pasadena, TX. The system consists of two 36-inch injecting pipelines and two 16-inch return lines running 1.7 miles between a terminal and interconnections with Colonial and Exp..
AP Interview: Qatar Energy Minister Wants 'Fair' Oil Price
DOHA, Qatar (AP) — The oil market is slowly recovering from its steep drop over the past two years but crude is still not trading at a “fair price” to encourage necessary investment, Qatar’s energy and industry minister said Tuesday, ahead of next week’s meeting of OPEC producers. Speaking to The A..
Eni’s Nigeria Pipeline Attacked For The Fourteenth Time This Year
An Italian Eni pipeline has been attacked again, for the fourteenth time this year, putting 4,200 barrels of oil per day of Eni production offline amid a resurgence in militancy. An Eni spokesman contacted by UPI confirmed the attack late on Saturday on the Ogbaimbiri-Tebidaba pipeline in Bayelsa s..
BP To Sell Minority Stake In Forties Pipeline
Oil Major BP is reportedly considering the sale of a minority stake in the Forties pipeline in the North Sea. The company said that it opened negotiations with potential buyers but failed to reveal details on the sale. The pipeline system is capable of carrying and processing some 1 million bar..
U.S. Oil Rig Count Holds Fast, Breaks 8-Week Freefall Streak
The total U.S. rig count (both oil and gas) fell again this week from 406 to 404. While the U.S. oil rig count held fast at 318 as reported by Baker Hughes’ latest oil rig count, the U.S. gas rig count fell from 87 to 85. Last week, it was the number of U.S. oil rigs that had fallen, with U.S. gas ..
Why The Arctic Oil Dream Is Not Over Yet
The race to discover oil and gas in virgin Arctic waters is now on, as Norway offered oil majors a lifeline on Wednesday by opening up what experts say could be home to 15 percent of the world’s undiscovered oil and 33 percent of the world’s undiscovered natural gas. Norway officials on Wednesday a..
If Confirmed, Native American Site May Delay $3.8 Billion Pipeline
DES MOINES, Iowa (AP) — Discovery of an archaeological site that may have cultural significance to Native Americans could further delay construction of a $3.8 billion oil pipeline if government officials require the route to be moved. Houston-based Dakota Access LLC wants to build the pipeline — de..
Iran, India Sign Port Deal, Other Economic Agreements
TEHRAN, Iran (AP) — India said Monday it will invest up to $500 million in a deal to develop a strategic port in Iran and both countries planned a number of projects they say are worth hundreds of millions of dollars. The deal and plans were announced during a visit by Indian Prime Minister Narendr..
New Hampshire a Big Step Closer to Getting $236 Million from Exxon
CONCORD, N.H. (AP) — New Hampshire is a big step closer to getting a $236 million judgment after the U.S. Supreme Court said this week it wouldn’t hear Exxon Mobil’s appeal regarding its use of a gasoline additive that contaminated groundwater in the state. The case involved MTBE, or methyl tertiar..
Crews Excavating North Dakota Land after Large Spill
BISMARCK, N.D. (AP) — Crews in North Dakota excavated pastureland after more than 120,000 gallons of oil and drilling wastewater overflowed from a tank, the state Health Department said Friday. The spill happened Wednesday morning near Marmarth in southwestern North Dakota at a site operated by Pla..
Former Brazil Energy Minister New CEO at Troubled Petrobras
RIO DE JANEIRO (AP) — Former Brazilian energy minister Pedro Parente has been named by acting President Michel Temer as the new CEO of state-run oil giant Petrobras. Parente was picked Thursday to replace Aldemir Bendine, an appointee of now suspended President Dilma Rousseff. The new Petrobras CEO..
ROIC: Latest Metric to Gauge Oil Patch Stock Performance
Investors pondering their choices as oil prices continue to recover must attempt to determine which firms are the best investments. The problem is that every company management team is trying to put the best spin on their results in quarterly conference calls and investor presentations. As a result,..
Canada Regulators OK Pipeline Expansion Project
SEATTLE (AP) — Canada energy regulators on Thursday recommended approval of a pipeline-expansion project that would dramatically increase the number of oil tankers moving through the waters between the U.S. and Canada. The National Energy Board recommended the federal government conditionally appro..
Construction Underway in 3 States on $3.8 Billion Dakota Access Oil Pipeline
ABERDEEN, S.D. (AP) — Construction is underway in three of four states on a $3.8 billion pipeline that will carry oil from western North Dakota to Illinois. Work on the Dakota Access Pipeline has begun in North Dakota, South Dakota and Illinois, spokeswoman Lisa Dillinger told the American News (ht..
PHMSA: Pipeline Company Failed to Detect California Oil Spill
LOS ANGELES (AP) — An oil pipeline company responsible for a massive spill on the California coast a year ago didn’t do enough to prevent corrosion and its operators didn’t detect and react to the spill quickly enough, federal regulators said Thursday. Plains All American Pipeline also didn’t have ..
Sorting Out Inspectors’ ‘Box of Chocolates’ Quandary
While conducting a client interview after we provided inspection services for a pipeline project, I posed this question to gain feedback: “How’d we do?” He responded with, “You are just like all of the other third-party natural gas pipeline inspection companies and inspectors. I don’t trust any of ..
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- ONEOK Agrees to Sell Interstate Gas Pipelines to DT Midstream for $1.2 Billion
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Texas Oil Company Challenges $250 Million Insurance Collateral Demand for Pipeline, Offshore Operations
