Oil
Suncor CEO Highlights the Challenge of Uncertainty in Canadian Energy Policy for Investors
Unpredictability in Canadian energy policy is scaring away capital investment in the sector, the CEO of one of Canada's largest oil producers, Suncor Energy, told a parliamentary committee on Monday.
India Wants Saudi Aramco to Develop Strategic Petroleum Reserve as Ties Strengthen
India wants Saudi Arabia's Aramco to participate in its planned 6.5 million metric tons strategic petroleum reserve program as the South Asian nation intends to strengthen ties with its key oil supplier.
Canadian Regulator Set to Decide on Trans Mountain Expansion Tolls
The Canada Energy Regulator (CER) said on Thursday it will make a preliminary decision on Trans Mountain Corp.'s proposed shipping tolls for its oil pipeline expansion project this autumn before holding a hearing on the tolls next year.
TC Energy Names Ex-CEO as Chair of Oil Pipeline Business
Canadian pipeline operator TC Energy on Thursday named industry veteran and former CEO Hal Kvisle as the chair of its oil pipeline unit.
Oil Reverses Gains After U.S. Posts Large Crude Build
Oil prices reversed early gains on Thursday in a volatile session after a large build in U.S. crude stockpiles outweighed expectations that U.S. interest rates had peaked.
Analysis: Canada May Struggle to Recoup $26 Billion Cost of Trans Mountain Pipeline
Canada faces an uphill battle to recoup the roughly $25.74 billion in taxpayers' money it has sunk into the Trans Mountain oil pipeline, as uncertainty over shipping tolls and a limited pool of buyers cloud the asset's unique strategic value.
Oil Falls After Saudi Pledge; Investors Keep Wary Eye on Israel
Oil prices fell over 2% on Wednesday as fears of disruption to supplies due to conflict in the Middle East receded a day after top OPEC producer Saudi Arabia pledged to help stabilize the market.
Exxon's $60 Billion Acquisition of Pioneer Could Squeeze US Oil Suppliers, Pipelines
Top U.S. oil producer Exxon Mobil's planned acquisition of the No. 1 Permian shale producer Pioneer Natural Resources could further restrain output growth in the largest U.S. oilfield, squeezing pipeline companies and suppliers, executives and energy advisors said.
Keystone Pipeline Back to Normal Operations After Brief Maintenance Shutdown
TC Energy's 600,000 barrel-per-day Keystone oil pipeline returned to normal operations on Wednesday after briefly being shut down for maintenance on Tuesday, two industry sources said.
Israel's Port of Ashkelon, Oil Terminal Shut in Wake of Conflict
Israel's port of Ashkelon and its oil terminal have been shut in the wake of the conflict between Israel and Islamist group Hamas, shipping and trade sources said on Monday.
Explainer: What Is Stopping the Iraq-Turkey Oil Pipeline Restarting?
A crude oil export pipeline from Iraq to Turkey is ready to resume operations, which have been suspended for the past six months, but flows have yet to restart.
Biggest Oil and Gas Sector Deals Since 2000
Exxon Mobil is on the brink of a game-changing $60 billion acquisition of shale producer Pioneer Natural Resources, marking their most significant deal since 1998. This landmark move is set to redefine the energy landscape, and our article highlights the major oil and gas sector transactions that have shaped the industry since 2000.
Iraq Awaits Formal Notification from Turkey on Oil Pipeline, Baghdad Says
Iraq has not received formal notification from Turkey on whether the oil exports pipeline is ready to begin operations, two senior Iraqi oil officials said on Sunday.
Trans Mountain to Begin Line Fill for Canadian Oil Pipeline in First-Quarter 2024
The Trans Mountain oil pipeline expansion will initiate the line fill process in the first quarter of 2024, with an expected duration of six to seven weeks. Filling the pipeline with oil will require about 4.5 million barrels, Trans Mountain Corp said.
HVO: Fuel for the Future
The advancement of the energy transition is leading to a growing imperative to reduce carbon emissions in challenging-to-transform sectors. Various industries are adopting alternative fuels and embracing increased electrification to promote sustainable practices within the construction and extraction sectors. In this regard, hydrated vegetable oil (HVO) represents a pioneering alternative fuel source.
Civitas Resources to Buy Permian Oil Assets for Roughly $2.1 Billion
(P&GJ) — Civitas Resources entered into an agreement with Vencer Energy, a Vitol investment, to acquire oil-producing assets in the Midland Basin of West Texas for approximately $2.1 billion.
BP Explores $1 Billion Sale of Stake in US Pipelines
BP Plc is exploring the sale of a 49% stake in its U.S. oil and gas pipeline network in the Gulf of Mexico, hoping to raise as much as $1 billion, according to people familiar with the matter.
At Least 15 Killed in Explosion at Illegal Nigerian Oil Refinery
At least 37 people, including two pregnant women, were burned to death after a blast at an illegal oil refinery in southern Nigeria, a local security official and community leader said on Tuesday.
Biden Angers All Sides with Scaled Back Offshore Oil Drilling Plan
The Biden administration's plan to slash offshore oil and gas leasing drew fire from both the fossil fuel industry and environmentalists on Friday, with energy companies saying it will raise fuel prices and greens saying it undermines efforts to stop global warming.
898-Mile Uganda–Tanzania Oil Pipeline Nearing Completion, Set for 2025 Debut
The 1,445-kilometer (898-mile) East African Crude Oil Pipeline (EACOP) that will transport crude from Tilenga and Kingfisher is set to come online in 2025, Uganda National Oil Co.'s chief executive said in an interview.
Turkey to Resume Operations of Iraq Oil Pipeline This Week
Turkey will restart operations this week on a crude oil pipeline from Iraq that has been suspended for about six months, Turkey's Energy Minister Alparslan Bayraktar said on Monday.
Oil Pipeline Rupture in Western Ukraine Injures Nine, Triggers Fire
An oil pipeline ruptured in western Ukraine on Saturday, injuring nine people, including four children, and triggering a large fire, the regional governor said.
US Crude Production Climbs to Near Record High in July
U.S. crude oil output grew in July to near its pre-COVID peak in 2019, fueled by a record level of production from Texas, the top U.S. shale oil producer, the U.S. Energy Information Administration said on Friday.
LM Energy Sells New Mexico Oil Gathering Assets, Including 130 Miles of Pipelines
(P&GJ) — LM Energy Holdings LLC has entered into definitive agreements to sell certain subsidiaries and assets related to its Touchdown Crude Oil Gathering System in Eddy and Lea counties, New Mexico.
Cushing Oil Hub's Low Levels Spur Quality, Operational, Price Worries
U.S. crude stockpiles at the key Cushing, Oklahoma, storage hub are at their lowest in 14 months due to strong refining and export demand, prompting concerns about the quality of the remaining oil and the potential to fall below minimum operating levels, traders and analysts said.
Trans Mountain Pipeline Route Change Request Approved by Canadian Regulator
The Canada Energy Regulator (CER) approved a route change request for the Trans Mountain oil pipeline expansion on Monday, clearing a major hurdle and avoiding months of delay for the Canadian government-owned project.
Russian Oil Producers Send CPC Blend to UAE, Open New Export Route
Russian oil producers supplied their first cargoes of CPC Blend crude to the United Arab Emirates (UAE) in August and September, four traders told Reuters, opening up a new export route as Moscow looks to find new customers and skirt Western sanctions.
FACTBOX: Deals on the Rise in US Oil and Gas Pipeline Sector
The oil and gas pipeline business has seen increased consolidation this year as U.S. production grows and new pipeline permitting problems have made existing operators more valuable.
Pipeline Operator Enbridge Could Add 200,000 bpd to Mainline Oil Pipeline Capacity
Enbridge Inc. could add 200,000 barrels per day (bpd) of capacity to its 3 million bpd Mainline system, which ships the bulk of Canada's crude exports to the United States, a company executive said on Tuesday.
P&GJ’s Europe 500 Report of Top Pipelines
(P&GJ) — Following is a listing of some of the longest transportation routes on the continent of Europe as of July 2023. This third such report will be broken down into two sections, gas and liquids (oil and products), which will be updated in each of our September issues going forward.
- Keystone Oil Pipeline Resumes Operations After Temporary Shutdown
- Freeport LNG Plant Runs Near Zero Consumption for Fifth Day
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
- Mexico Seizes Air Liquide's Hydrogen Plant at Pemex Refinery
- Enbridge to Invest $500 Million in Pipeline Assets, Including Expansion of 850-Mile Gray Oak Pipeline
