Oil
FTAI Infrastructure Partners with Aramco Trading to Boost Oil Supply to Texas Terminal
FTAI said the subsidiary, Jefferson Energy, would receive additional supply of crude oil at its terminal in Beaumont by incorporating bi-directional flow capability into its Southern Star Pipeline, which currently moves crude oil from the Main Terminal to the Motiva Port Neches Terminal.
OPEC Sees No Peak in Long-Term Oil Demand, Secretary General Says
OPEC does not see a peak in oil demand in its long-term forecast and expects demand to grow to 116 million barrels a day by 2045, and may be higher, the secretary general said on Thursday.
Attack on Niger-Benin Oil Pipeline Kills Six Soldiers, Security Sources Report
Unidentified assailants in Niger attacked soldiers guarding a major Niger-Benin oil pipeline on Wednesday, killing six soldiers, three security sources told Reuters on Thursday.
Trans Mountain Pipeline Operating at 80% Capacity, Sets to Load 22 Tankers in Vancouver
Twenty-two oil tankers are scheduled to load this month in Vancouver with crude from the expanded Trans Mountain pipeline, which is running around 80% full with a "little bit" of spot capacity also being used, a Trans Mountain executive said on Wednesday.
Matador Acquires EnCap-backed Ameredev Unit for $1.91 Billion, Expanding Permian Oil Assets
U.S. oil and gas producer Matador Resources said on Wednesday it would add oil and natural gas producing assets and undeveloped acreage in the Delaware basin in a $1.91 billion cash deal for a unit of Ameredev II Parent.
Quality Concerns on Trans Mountain Pipeline May Impact Canadian Oil Flows to U.S. West Coast Refiners
U.S. oil refiners and West Coast traders are flagging concerns about the quality of crude shipped on the newly completed Trans Mountain pipeline expansion (TMX), warning that high vapor pressure and acidity limits could deter purchases of Canadian heavy barrels.
Mexico's Proven Crude Oil Reserves Fall as Natural Gas Reserves Rise
Mexico's proven crude oil reserves have fallen though proven natural gas reserves increased, resulting in an increased total for hydrocarbon reserves, the country's regulator said on Tuesday in its annual update for 2024.
U.S. to Purchase 6 Million Barrels of Oil for Strategic Petroleum Reserve
The U.S. Department of Energy’s Office of Petroleum Reserves has unveiled two new solicitations totaling 6 million barrels of oil for delivery to the Strategic Petroleum Reserve’s Bayou Choctaw site from September through December.
Oil Prices Extend Rally on Prospects of U.S. Crude Purchase for Reserve
Oil prices rose on Tuesday, extending the previous day's rally on hopes of higher seasonal fuel demand and potential U.S. crude purchases for its petroleum reserve, though gains were capped by a firmer dollar.
Glencore Wins Tender to Supply Crude to UK's Lindsey Oil Refinery
Global commodities trader Glencore has won a tender to supply crude oil to Prax's 113,000-barrel per day Lindsey oil refinery in Britain, replacing rival trader Trafigura, sources told Reuters.
Oil Prices Slip as U.S. Dollar Strengthens on Jobs Data
Oil prices nudged lower for a second straight session on Monday, weighed down by a firmer dollar as expectations of interest rate cuts were pushed out further following strong U.S. jobs data on Friday.
Rosneft's Sechin Criticizes Increase in Spare Oil Output Capacity in Middle East, West
He said that combined spare oil production capacity of Saudi Arabia, United Arab Emirates, Kuwait and Iraq stood at 5.6 million barrels per day, or 13% of OPEC+ current output.
Berkshire Buys Additional 2.57 Million Shares in Occidental Petroleum, Filing Shows
Warren Buffett's Berkshire Hathaway bought around 2.57 million shares of common stock in Occidental Petroleum over June 5-7, according to a U.S. securities filing.
U.S. Expedites Strategic Petroleum Reserve Purchases as Oil Prices Decline
The Department of Energy on Friday issued two solicitations to buy a combined 6 million barrels of crude for delivery to its Bayou Choctaw site in Louisiana from September through December.
Benin-Niger Dispute Intensifies with Arrests at Crude Pipeline Terminal
A prosecutor in Benin said authorities had detained five Niger nationals last week for allegedly entering Benin's Seme-Kpodji pipeline terminal under false pretenses, deepening a dispute over exports of crude oil from Niger via Benin.
Analysis: How Devon Energy Missed the Boat on U.S. Oil and Gas Mega-Deals
U.S. oil and gas producer Devon Energy has lost bids to acquire at least three of its peers in the last 12 months because its shares were spurned as acquisition currency, according to people familiar with the negotiations.
Afreximbank Provides $925 Million for Nigerian Oil Sector Expansion
Africa's Afreximbank has just greenlit a massive $925 million loan to Nigeria's NNPC, backing the oil giant's expansion plans.
Texas Startup Endeavors Again to Build First Major U.S. Oil Refinery Since 1977
Element Fuels Holdings, a Dallas-area startup proposing to build the first all-new U.S. oil refinery in nearly 50 years, on Thursday said it was relaunching efforts to build a large plant in South Texas.
Consortia Eye Citgo's Texas Refinery Ahead of Auction Deadline, Sources Say
Energy producers, refiners, investment funds and bankers increasingly have shown interest in the Venezuelan-owned company's Corpus Christ, Texas, complex during a marketing process organized by a U.S. court in Delaware.
TC Energy Shareholders Approve Spin-Off of North American Oil Pipeline Business
TC Energy shareholders voted in favor of spinning off the Canadian company's liquids pipeline business on Tuesday, creating a new energy infrastructure firm known as South Bow Corp. whose assets include the Keystone oil pipeline.
Ugandan Activist Detained Over Opposition to TotalEnergies Oil Pipeline, Pressure Group Reports
A Ugandan activist campaigning to stop the development of a $5 billion crude oil pipeline in east Africa by France's TotalEnergies and others has been detained by Uganda's military, the group he works for said on Wednesday.
U.S. Could Boost Rate of Replenishing Oil Reserve, Energy Secretary Granholm Says
The U.S. could hasten the rate of replenishing the Strategic Petroleum Reserve as maintenance on the stockpile is completed by the end of the year, Energy Secretary Jennifer Granholm told Reuters on Tuesday.
Czech Republic Set to Ditch Russian Oil by Mid-2025, PM Announces Pipeline Upgrade
The Czech Republic will end its use of Russian oil no later than the first half of 2025 as state pipeline firm MERO completes a capacity upgrade on the Transalpine Pipeline, Prime Minister Petr Fiala said on Tuesday.
U.S. Buys 3 Million Barrels of Oil for Strategic Petroleum Reserve
The U.S. is buying another 3 million barrels of oil for the country's Strategic Petroleum Reserve, the Department of Energy said on Monday, as it slowly replenishes the stockpile after the largest sale ever in 2022.
Chinese Refiner Rongsheng Buys First Canadian TMX Crude Oil Cargo
Chinese refiner Rongsheng Petrochemical has bought its first Canadian crude cargo via the recently expanded Trans Mountain pipeline from TotalEnergies through a tender, several trade sources said on Monday.
Navigating Small Diameter ILI Challenges in Crude Oil Gathering Systems
Bridger Pipeline operates a crude oil gathering system, of approximately 3,500 miles, in the Williston Basin of western North Dakota, eastern Montana and the Powder River Basin of Wyoming. The system contains many small-diameter (3-inch to 6-inch) gathering lines that are a challenge to inspect with ILI tools.
Chevron-led TCO Completes Maintenance at Tengiz Oilfield in May
TCO exports oil mainly via Caspian Pipeline Consortium's Black Sea terminal near Russian port of Novorossiisk. Some 5% of its crude exports also go through the Baku - Tbilisi - Ceyhan pipeline.
AltaGas and Vopak to Construct Major Energy Export Facility in British Columbia
Calgary-based AltaGas Ltd. and Royal Vopak from Rotterdam have jointly announced their decision to move forward with the construction of the Ridley Island Energy Export Facility in British Columbia, Canada.
Exxon and Chevron Pursue Big-Ticket Deals to Expand Oil Reserves
Cash-rich ExxonMobil and Chevron are bolstering their oil and gas drilling inventory with multibillion-dollar takeovers as they bet on resilient demand for years to come.
Colonial Pipeline Files for Rate Hike on 5,000-Mile U.S. Network, Effective July 1
The Colonial Pipeline, the largest pipeline system for refined oil products in the U.S., on Friday informed shippers that it has filed to increase rates for the majority of shipments on its more than 5,000-mile network.
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- 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
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- Alaska Greenlights Enstar’s $57 Million Pipeline to Boost LNG Imports
- New 580-Mile Texas Pipeline Eases Bottlenecks, Boosts Shale Gas and Oil Output
