Oil
ONEOK Profit Slips on Higher Costs Despite Gains From Pipeline Acquisitions
ONEOK reported a slight dip in first-quarter profit due to higher costs, but core pipeline and NGL segments saw gains from recent acquisitions, including EnLink and Medallion.
Tankers Bottleneck at Aging Venezuela Oil Port Before U.S. Export Deadline
Oil tankers are queuing at Venezuela’s deteriorating La Salina port ahead of the U.S. license expiry on May 27, triggering delays as PDVSA pushes new crude exports.
LNG Surges, Oil Stalls: Trump's Energy Agenda Faces Headwinds from Trade Turmoil
Just 100 days into President Donald Trump's second term, oil prices have slumped over 20% to below many U.S. producers' breakeven costs as investors lose confidence amid tariff and policy uncertainty - undercutting Trump's push for U.S. energy dominance.
Gulf of Mexico Looking ‘Economically Viable’ in Coming Years
Since the beginning of 2025, with the advent of a second Trump administration, think tanks and energy consultants alike have been busy contemplating what a return to a “drill, baby drill” philosophy will mean to the U.S. and global energy space.
Congress Renews Efforts to Improve Pipeline Safety Law
The Trump administration appears to be more interested in energizing the federal pipeline safety regulator than the Biden administration ever was.
Scotland's Grangemouth Oil Refinery Ends Crude Processing, Begins Layoffs
Grangemouth, Scotland's only oil refinery, has ceased crude processing as Petroineos transitions the site into an import terminal, triggering job cuts and marking the end of an era for the aging facility.
Oil Price Slump Sparks Fears Over Big Oil Dividends, Buybacks
When Exxon Mobil and Chevron report first-quarter results this week, investors will be focused on how falling oil prices have increased the risk to dividends and share repurchases for the rest of 2025.
Syrian President, Iraqi Delegation Discuss Restoring Oil Pipeline
Syrian President Ahmed al-Sharaa and an Iraqi delegation met in Damascus to discuss restoring an oil pipeline through Syria to Mediterranean ports, aiming to boost trade and address regional energy needs amid ongoing economic challenges.
Kenya Puts Breaks on Sale of State Pipeline Company
The sale of KPC was approved in 2023, under the country’s privatization program targeting at least 11 state-owned enterprises due to what the government said was “inadequate capital for investments and working capital due to dwindling government resources to invest in those entities.”
Alberta, Ottawa Pin Hopes on U.S. Ties to Revive Pipeline Projects
Canada ramps up efforts to expand its natural gas pipeline network amid rising domestic demand and growing export opportunities to the U.S., with major projects like Yellowhead Mainline and renewed interest in cross-border infrastructure.
Judge Faults Army Corps Over Pipeline Protests, Awards North Dakota $28 Million
A federal judge awarded North Dakota nearly $28 million from the U.S. government to cover costs tied to the Dakota Access pipeline protests, citing federal negligence during the 2016-2017 demonstrations.
Newsom Seeks to Aid Struggling Refiners Following Valero’s California Exit
California Governor Gavin Newsom has called for closer cooperation with oil refiners to secure reliable fuel supplies amid refinery shutdowns and rising pump prices, citing long-term planning needs during the state’s energy transition.
Falling Oil Prices, Limited Shale Acreage to Threaten 2025 Dealmaking, Report Says
Analysts forecast a challenging 2025 for U.S. oil and gas M&A, as weak oil prices and limited shale acreage constrain dealmaking. Despite a strong Q1, they see high asset prices clashing with buyer caution.
FERC’s Willie Phillips Exits Early, Opening Door for Trump to Shift Commission Balance
Democratic FERC Commissioner Willie Phillips steps down early, reportedly after a request from the Trump administration, creating an opportunity for Republicans to gain a majority on the powerful energy regulatory body.
Phillips 66 Challenges Elliott Over Citgo Conflict in Boardroom Battle
Phillips 66 is accusing activist investor Elliott of a conflict of interest tied to Citgo as a shareholder battle over board seats and the company’s future strategy escalates.
Environmental Groups Brace for Legal Fight Over Trump’s Energy Rollbacks
Environmental groups are ramping up legal teams in anticipation of challenging President Trump’s sweeping energy deregulation orders, which bypass public input and aim to sunset federal rules.
Black Sea Gas Ramps Up as Turkey Targets Regional Oil, Gas Partnerships
Turkey's Sakarya gas field has reached 9.5 million cubic meters per day, fueling Ankara’s regional energy ambitions. The country is pursuing exploration partnerships in Bulgaria, Somalia, Iraq, and the Caspian Sea as part of efforts to cut imports and boost supply security.
Forum Reports Early Success in Tackling Subsea Challenges
An influential forum of oil and gas operators with a vested interest in subsea operations is tackling the challenges of aging offshore infrastructure through cross-industry collaboration.
India Considers Dropping Tariffs on U.S. Ethane, LPG in Trade Talks
India is considering removing import duties on U.S. ethane and LPG as part of ongoing trade talks with Washington aimed at reducing its trade surplus and tariff burden, sources say.
Santos Eyes Early Start for Alaska Oil Project as Revenue Slips
Santos said its Pikka Phase 1 oil project in Alaska could begin production earlier than expected, despite a 7% drop in first-quarter revenue due to weaker crude sales and LNG prices. Analysts welcomed the potential early output.
Dozens Exit U.S. EIA, Threatening Release of Critical Energy Data, Sources Say
A wave of resignations at the U.S. Energy Information Administration is raising concerns about the future of key energy reports used by traders and industry leaders worldwide. Sources say dozens of employees have departed or accepted buyouts.
Army Corps Grants Emergency Status for Enbridge Line 5 Tunnel, Fast-Tracking Pipeline Permit
The U.S. Army Corps of Engineers has granted emergency status to Enbridge’s Line 5 tunnel project, expediting a key federal permit under President Trump’s energy emergency order. The move could accelerate pipeline construction beneath the Great Lakes.
Pakistan Considers Buying U.S. Oil to Ease Trade Pressure
Pakistan is considering importing U.S. crude oil for the first time as part of a strategy to reduce trade imbalances and ease tariff pressure from the United States, according to sources familiar with the proposal.
Iraq Approves Subsea Oil Pipeline Deal to Expand Export Capacity
Iraq has signed a deal with Italian contractor Micoperi and Turkey's Esta to build a 2.4 million barrels-per-day subsea oil export pipeline linking to its southern ports, aiming to boost offshore export capacity.
Chinese Oil Storage Site Sanctioned by U.S. for Ties to Iran Crude Pipeline
The U.S. sanctioned a Chinese oil terminal connected to an undersea pipeline carrying Iranian crude, days before nuclear talks with Tehran. The move targets midstream infrastructure linked to Iran’s sanctioned oil trade.
South Bow to Resume Keystone Pipeline at Reduced Pressure Following Spill
South Bow plans to restart the Keystone pipeline by Tuesday following a 3,500-barrel oil spill in North Dakota. The restart remains subject to U.S. safety regulator approval and will operate under reduced pressure as part of federal and Canadian corrective action orders.
U.S. Energy Secretary Says Iran’s Oil Exports Can Be Stopped Under Trump Plan
U.S. Energy Secretary Chris Wright said the U.S. could stop Iran’s oil exports under President Trump’s renewed pressure campaign, citing the ability to track and block shipments as part of a broader strategy to prevent a nuclear-armed Iran.
PDVSA Suspends Oil Loading Approvals for Chevron, Disrupting Exports, Sources Say
Venezuela's state oil company PDVSA has canceled several authorizations it had granted U.S.-based producer Chevron to load and export Venezuelan crude in April, three sources with knowledge of the decision said on Thursday.
Control Rooms Crucial to Pipeline Compliance Operations
In 2007, the Pipeline Hazardous Materials Safety Administration (PHMSA) released a Notice of Preliminary Rule Making (NPRM), known as the Control Room Management (CRM) rule. Since the CRM rule went into full effect in 2012, pipeline operators have seen significant transformation in the control room operation.
Venezuela Declares Economic Emergency as U.S. Crude, Gas Export Sanctions Hit
Venezuela's national assembly on Thursday passed a decree proposed by President Nicolas Maduro's government to declare a state of economic emergency in response to U.S. sanctions and tariffs.
- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Tallgrass to Build New Permian-to-Rockies Pipeline, Targets 2028 Startup with 2.4 Bcf Capacity
- TC Energy Approves $900 Million Northwoods Pipeline Expansion for U.S. Midwest
- New Alternatives for Noise Reduction in Gas Pipelines
- EIG’s MidOcean Energy Acquires 20% Stake in Peru LNG, Including 254-Mile Pipeline
- Construction Begins on Ghana's $12 Billion Petroleum Hub, But Not Without Doubts
- DOE Considers Cutting Over $1.2 Billion in Carbon Capture Project Funding
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
