Oil
Iraq Calls For Urgent Meeting To Resume Iraq-Turkey Oil Pipeline Exports
Traffic via the Iraq-Turkey oil pipeline (ITP), which once handled about 0.5% of global oil supply has been halted, stuck in legal and financial limbo, since March 2023, and talks to resume the exports have stalled.
Argentina’s YPF Begins Building Vaca Muerta Oil Pipeline
The initial phase will run from Añelo in Neuquén to Allen in Río Negro, connecting with the Oldelval system, Argentina's largest oil pipeline network. This project aims to enhance the oil transportation system in the Neuquén basin, significantly boosting transport capacity to refineries and the port of Bahía Blanca.
Polish, Russian Pipeline Operators Agree On Solution To Keep Oil Flowing To Germany
PERN, Russia's state-controlled Transneft and Germany's PCK Schwedt refinery agreed that a non-Russian company will service the oil flow meters on the Polish part of the Druzhba pipeline, sources in Poland, Germany and Russia said.
Spain's Repsol Gets U.S. License to Expand Venezuela Oil, Gas Projects - Sources
Spain's Repsol has received a license from the U.S. Treasury Department authorizing the energy company to continue and expand its oil and gas business in Venezuela, sources close to the decision said on Thursday.
Hess-Chevron Merger Vote Expected to Be Narrowly Approved
Hess Corp. CEO John Hess has until Tuesday to quell a rebellion by shareholders over his handling of what could turn out to be one of the largest mergers in oil industry history: a proposed $53 billion sale of the oil producer to Chevron Corp.
Canada Amends Trans Mountain Ownership Regulations to Facilitate Pipeline Sale to Indigenous Groups
Canada is amending regulations on how it manages the state-owned Trans Mountain oil pipeline in order to facilitate its sale to Indigenous groups, according to an official government notice published on Wednesday.
Oil Executives Host Trump Fundraiser in Houston Amidst Fossil Fuel Policy Debate
The luncheon, which will be held at Houston’s Post Oak Hotel, is hosted by Harold Hamm, founder of Continental Resources; Kelcy Warren, executive chairman of Energy Transfer Partners; and Vicki Hollub, CEO of Occidental Petroleum, according to the invitation.
Saudi Crown Prince Assures Japan of Stable Oil Supply Amid Postponed Visit
The crown prince told Kishida that "Saudi Arabia remains committed to the stable supply of crude oil to Japan and that Saudi Arabia would like to cooperate with Japan in other areas including the field of clean energy," it said.
Argentina's Oil Output Hits Record High with YPF's New Pipeline Launch
Argentina's oil production in the key province of Neuquen reached a record high in April, driven by increased activity in the huge Vaca Muerta shale formation, the local government said on Tuesday, edging up to around 390,326 barrels per day.
First Canadian Oil Export Cargo from Expanded Trans Mountain Pipeline Set to Load
Crude oil tanker Dubai Angel on Monday moored at the Westridge Marine Terminal in Vancouver, preparing to load the first cargo of crude oil from the recently expanded Trans Mountain pipeline, ship tracking data showed.
Case Study: Risk Management for Valve Rupture Mitigation in Pipeline Operations
Discover how a U.S. transmission pipeline operator collaborated with Dynamic Risk to conduct a comprehensive risk analysis for valve rupture mitigation. Learn how geospatial data and advanced analytics were utilized to prioritize high-consequence areas and optimize risk management strategies.
Russia Remains China's Top Oil Supplier for 12th Consecutive Month in April
Russia was China's top oil supplier in April for a 12th month, with volumes rising 30% from a year earlier, official data showed, as refiners continued to cash in discounted shipments, while supplies from Saudi Arabia fell a quarter on higher prices.
Libya Commences Operation of North Hamada Oilfield Pipeline
Libya has begun operating the new pipeline from its North Hamada oilfield with initial transfer capacity expected at 2,000 barrels per day, the National Oil Corporation said on Sunday.
U.S. Purchases 3.3 Million Barrels of Oil for Strategic Petroleum Reserve
The U.S. awarded contracts for the purchase of 3.3 million barrels of oil to help replenish the Strategic Petroleum Reserve (SPR) after a massive sale from the stockpile in 2022, the Department of Energy said on Friday.
TC Energy to Appeal Delaware Court's $200 Million Liability Ruling in Columbia Pipeline Acquisition Lawsuit
TC Energy said it strongly disagrees with the final decision issued on May 15 by the Delaware Chancery Court, which allocated liability for previously determined damages in an ongoing class-action lawsuit related to its 2016 acquisition of Columbia Pipeline Group Inc.
Proxy Adviser Urges Hess Shareholders to Accept Chevron Offer
Hess shareholders should vote in favor of Chevron's $53 billion all-stock offer at the oil company's May 28 special meeting, proxy adviser Glass Lewis said on Thursday.
Putin Suggests Potential for Oil Pipeline Alongside Planned Gas Link to China
Russia could deliver oil as well as gas to China along a planned route via Mongolia, President Vladimir Putin said on Friday. The project has taken on added urgency for Russia as it bids to ramp up gas shipments to China to make up for the collapse of its exports to Europe because of the war in Ukraine.
Crescent Energy Acquires SilverBow for $2.1 Billion, Creating Second Largest Eagle Ford Operator
Oil and gas producer Crescent Energy will acquire rival SilverBow Resources in a $2.1 billion deal, creating the second-largest operator in the Eagle Ford basin in Texas.
Report Highlights Challenges in Attracting Talent to Oil and Gas Sector
The oil and gas sector is at risk of failing to deliver the 28,000 skilled engineering construction workers needed by 2030 — unless it better understands what motivates new entrants, according to a report out today.
Global News May 2024
Latest industry developments from around the world!
Editor’s Notebook: M&A Appears Here to Stay
It appears likely that the wave of midstream merger-and-acquisition activity of the past few years hasn’t reached its peak yet. In fact, to hear some insiders tell it, a full-on tsunami may not be far away.
IEA Faces Overhaul Under Second Trump Term, Aimed at Boosting Fossil Fuels
Donald Trump would likely push to replace the head of the International Energy Agency if he wins the U.S. presidential election to shift the energy watchdog's focus back to maximizing fossil fuel output instead of fighting climate change, according to people familiar with the matter.
Colombia's Trasandino Pipeline to Remain Offline Until December 2024, Ecopetrol CEO Says
Colombia's Trasandino pipeline is forecast to remain offline until December, the chief executive of Colombia's majority state-owned energy company Ecopetrol said on Wednesday.
YPF Advances $2.5 Billion Pipeline Project to Spur Vaca Muerta Shale Oil Exports
YPF SA is advancing a $2.5-billion cross-country pipeline project to unlock the rich potential of the Vaca Muerta shale region, addressing the primary bottleneck hindering its full exploitation.
EIA: U.S. Oil Output in Top Shale Regions to Hit Six-Month High in June
Production in the top basins will reach 9.85 million barrels per day (bpd), its highest since December, the EIA said.
Savannah Energy Loses Legal Bid to Freeze Oil Pipeline Company's Accounts, Chad Government Says
The Paris Court of Arbitration has rejected a bid by Savannah Energy Plc to freeze COTCO oil pipeline company's accounts after Chad nationalized its upstream assets in the country, Chad's transitional government said on Monday.
Schumer Urges FTC to Halt $53 Billion Chevron-Hess Merger
U.S. Senate Majority Leader Chuck Schumer on Sunday urged the Federal Trade Commission to "pump the breaks" on Chevron Corp.'s proposed $53 billion acquisition of Hess Corp.
Saudi Arabia to Reduce Crude Oil Supply to China by 5.8 Million Barrels in June, Sources Say
The supply cuts come after the world's top exporter Saudi Aramco hiked official selling prices (OSPs) for most of its crude to Asia to the highest in five months despite weak refining margins.
Pembina Pipeline Downplays Investment Prospects in Trans Mountain Expansion
Canada's Pembina Pipeline Corp. is not spending much time considering investment in the newly expanded Trans Mountain oil pipeline (TMX) due to uncertainty around shipping tolls, a company executive said on Friday.
Enbridge Exceeds Profit Expectations Amid Strong North American Oil Demand
North American pipeline operator Enbridge beat market estimates for first-quarter profit on Friday on strong demand for transporting oil.
- 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
- Boardwalk Approves 110-Mile, 1.16 Bcf/d Mississippi Kosci Junction Pipeline Project
- Kinder Morgan Approves $1.4 Billion Mississippi Crossing Project to Boost Southeast Gas Supply
- 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
- Enbridge Should Rethink Old, Troubled Line 5 Pipeline, IEEFA Says
- 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
