Oil
Medallion Pipeline Launches Binding Open Season
IRVING, TX – Medallion Pipeline Company, a subsidiary of Medallion Midstream , is soliciting long-term commitments from shippers for firm transportation capacity on the third major expansion of Medallion’s existing 320-mile crude oil pipeline system. The Howard Lateral would provide 45,000 bpd of b..
Summit Starts Up Crude Pipeline Systems in Bakken Shale
THE WOODLANDS, TX – Summit Midstream Partners has begun operating the Stampede Lateral crude oil transmission pipeline in North Dakota and is in the final stages of completing the nearby Little Muddy crude oil transmission pipeline, which includes an interconnect with Enbridge’s North Dakota Pipeli..
Does Aligning Cybersecurity, Process Safety Approaches Reduce Risk?
Cyber-attacks are more hostile and frequent than ever. We’ve all heard news stories about how intellectual property and private information have been stolen by hackers. When this happens, it can be costly in some cases and embarrassing in others. However, for industrial operations, the stakes are mu..
Energy Loans Likely to Cause Further Losses for Big Banks
NEW YORK (AP) — The nation’s six largest banks have hit an oil slick. They have tens of billions of dollars of exposure to risky energy loans that won’t all be paid back because low oil prices have sapped the profits of oil companies. The value of those loans will have to be written down even fur..
US Rig Count Down by 48 for Week to 571
HOUSTON (AP) — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the United States declined by 48 this week to 571. The Houston firm said Friday 467 rigs sought oil and 104 explored for natural gas amid depressed energy prices. A year ago, 1,..
Canada’s Energy Industry, Part I: Changing Times, Shifting Opportunities
To feel the winds of change from the global crash of crude oil prices in 2015, go no farther away than Canada, the world’s fifth-largest energy-producing nation. On the verge of a transformation before the commodity price nosedive, the U.S. northern neighbor is even more unsettled as global and Nor..
EIA: High Inventories Push Crude Prices to Lowest Levels in 13 Years
Several factors have played a part in pushing U.S. crude oil prices below $30 per barrel , including high inventory levels of crude oil, uncertainty about global economic growth, volatility in equity and non-energy commodity markets, and the potential for additional crude oil supply to enter the mar..
Where There Is Oil, There Will Be Pipelines
“An Industry in Transition: Where There is Oil & Gas There Will Be Pipelines” was presented Monday night by Pipeline & Gas Journal Editor Jeff Share to members of the Pipelines Association Association. Is this a crazy world or what? Would anyone disagree that it takes a strong stomach and nerv..
Dominion Resources Buying Questar for $4.4 Billion
NEW YORK (AP) — Dominion Resources will spend approximately $4.4 billion to acquire Questar in a big reach to the West for the East Coast energy company. Dominion is a power producer in the mid-Atlantic region. Questar is in the Rockies and a principal source of gas supply to Western states. The..
TransCanada Amends Filing for Energy East Pipeline
TransCanada filed an amendment to its existing application with the National Energy Board (NEB) to adjust the proposed route, scope and capital cost of the Energy East pipeline project based on extensive landowner, environmental, community and customer input. The original Energy East proposal calle..
INGAA Foundation Chairman Rob Riess Takes on Challenging Year
If there is one certainty about the energy business, it’s that you never know what tomorrow will bring. Chairing a prominent and influential organization such as the INGAA Foundation is much more than an honorary title. It is bestowed upon individuals with an astute knowledge of the natural gas tra..
World News: Asian Leaders Laud TAPI Pipeline
Leaders from Afghanistan, Pakistan and India joined the president of Turkmenistan to discuss construction of a natural gas pipeline that could help ease energy deficits in South Asia: The 1,814-km Turkmenistan-Afghanistan-Pakistan-India (TAPI) natural gas pipeline is expected to be operational by 20..
Only Recession Can Prevent Oil Price Spike
The biggest result from the collapse in oil prices could be a future price spike. Oil prices at $30 per barrel have put most producers under water. That has led to austere budgets and severe cuts to spending. Wood Mackenzie recently estimated that $380 billion in major oil projects have been delaye..
Falling Oil Prices Push Chevron to 1st Loss Since 2002
DALLAS (AP) — Chevron suffered its first money-losing quarter since 2002 in the final three months of last year, as plunging crude prices chopped more than one-third from its revenue. Oil traded this month at levels not seen since 2003, although it has rebounded slightly in the last few days. Che..
Russian-OPEC Coordinated Production Cut Remains Long Shot
The rumors of a coordinated production cut between OPEC and Russia continue to grow more serious. The latest comes from the Russian energy minister Alexander Novak, who insisted that Russia will hold talks with OPEC in February on a possible agreement to reduce output. “There are very many question..
Iran Wasting No Time; Inks Deals with Italy, France
Balancing Iran’s increasingly closer ties with Russia and China, Iranian President Hassan Rouhani is touring Europe to drum up as much renewed business with the West as he can now that his country is free of crippling sanctions. On Friday, Iran and Greece signed what is described as a “long-term ag..
Canada to Step Up Climate Scrutiny on Oil Pipelines
The Canadian government is set to impose stricter criteria for evaluating major energy infrastructure projects like oil and gas pipelines or liquefied natural gas export terminals. The federal government is reportedly planning on adding a “climate test” for proposed projects, an extra hurdle for la..
New Pipeline Projects Increase Northeast Natural Gas Takeaway
A number of recently completed and upcoming natural gas infrastructure projects are expected to increase the reach of natural gas produced in the Marcellus and Utica regions of the Northeastern United States. These projects are intended to transport natural gas from production centers to consuming m..
Shell Shareholders OK $49 Billion Deal to Buy UK Rival BG
LONDON (AP) — Royal Dutch Shell shareholders have overwhelmingly backed the $49 billion bid to buy BG Group, despite a slide in oil prices that have had some critics wondering about the wisdom of the mega-deal. More than 80% of shareholders approved the move on Wednesday. The deal will boost Shel..
Oil Stranded by California Pipeline Break Could Be Trucked Out
LOS ANGELES (AP) — Eight months ago a ruptured pipeline created the largest coastal oil spill in California in 25 years, fouling beaches near Santa Barbara with crude and spreading goo as far as 100 miles away. The beaches reopened last summer, but the fallout is continuing. Santa Barbara County..
Changing Contract Expiration Dates to Alter Crude Futures Comparisons
A change to the North Sea Brent crude oil futures contract will change the way prices for Brent futures are compared to futures prices for West Texas Intermediate (WTI) crude oil, according to a new report by Energy Information Administration (EIA). Beginning Jan. 29, the Brent contract will expire..
Saudi Aramco Chairman Defends Oil Giant's Possible IPO Move
RIYADH, Saudi Arabia (AP) — The chairman of Saudi Arabia’s state oil giant, Aramco, said on Monday that plans for a possible initial public offering are not being driven by a need for cash amid a global slump in oil prices, but instead signal a desire for greater openness to outside investors. S..
Exxon Says Oil and Gas Will Still Dominate Energy in 2040
DALLAS (AP) — The way oil giant Exxon Mobil sees it, the global energy landscape won’t be radically different in 2040 than it is today. Oil and gas will remain king, accounting for an even slightly larger share of the energy supply. Coal will fall behind natural gas to become the third-largest sourc..
EAI Expects Iran to Clear Storage Prior to Ramping Up Production
Implementation day for the Joint Comprehensive Plan of Action (JCPOA), an agreement among Iran, the the five permanent members of the United Nations Security Council and Germany (P5+1), and the European Union (EU), occurred Jan. 16 when the International Atomic Energy Agency verified that Iran ha..
Frost & Sullivan Director Discusses Likelihood of Oil Price Rebound
Carl Larry is the director of Oil and Gas at Frost & Sullivan, a consultancy that conducts research on oil and gas markets, to get his thoughts on the state of oil in 2016. Oilprice.com: I saw that you were on Bloomberg in December, and you said that you thought oil would go to the low $30s per b..
Company Executive Blames Decade-Old Oil Leak on 'Act of God'
BATON ROUGE, La. (AP) — A decade-old oil leak that could last for another century was caused by an “act of God” during a hurricane in the Gulf of Mexico, the president of the company responsible said Wednesday. Taylor Energy President William Pecue told a gathering of industry experts and environ..
U.S. Production to Fall to 8.1 MMbpd by Year End, Genscape Says
With sustained weakness in crude prices and oil rigs at the lowest level since the economic crisis of 2008, production in the United States is set to see significant year-over-year declines. U.S. production for the year peaked at 9.6 MMbpd in April and declined to 9.2 MMbpd by December. Industry..
More Quakes Rattle Oklahoma but State Avoids Tough Measures
OKLAHOMA CITY (AP) — In Oklahoma, now the country’s earthquake capital, people are talking nervously about the big one as man-made quakes get stronger, more frequent and closer to major population centers. Next door in Kansas, they’re feeling on firmer ground though no one is ready yet to declare vi..
Russia Warns Cuts Needed to Avoid Repeat of '98 Crash
MOSCOW (AP) — Russia’s leaders are warning the government will need to make more cutbacks if the nation is to avoid a repeat of the 1998 financial crash, the country’s biggest post-Soviet economic trauma. The economy, which is heavily reliant on its massive oil and gas industry, is getting hammer..
P&GJ’s 2016 Worldwide Construction Report
P&GJ’s 2016 survey figures indicate 94,799 miles of pipelines are planned and under construction worldwide. Of these, 49,848 miles represent projects in the engineering and design phase; 44,951 miles are in various stages of construction. Following is a list of new and planned pipeline miles in the..
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- 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
- Another Major U.S. Oil Refinery Shutting Down as Lyondell Confirms Houston Closure
- Boardwalk Approves 110-Mile, 1.16 Bcf/d Mississippi Kosci Junction Pipeline Project
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- Polish Pipeline Operator Offers Firm Capacity to Transport Gas to Ukraine in 2025
- Macquarie, Dow Launch $2.4 Billion Gulf Coast Pipeline Infrastructure Partnership
