Oil
Trans Mountain Pipeline Expansion Project to Nearly Triple Current Capacity to 890,000 bpd
(P&GJ) — When the expanded Trans Mountain pipeline begins operating next year, it will provide access to new markets in Asia for Canadian oil producers that have suffered from years of limited pipeline capacity. The expansion project will add approximately 980 km (609 miles) of new pipeline and bring the nominal capacity of the system from approximately 300,000 barrels per day (bpd) to 890,000 bpd.
Azerbaijan's January-March Oil Exports Via BTC Pipeline Rise 9%
Azerbaijan's oil exports through the Baku-Tbilisi-Ceyhan (BTC) pipeline via Georgia and Turkey were up by 9.0% year-on-year in the first three months of this year at 7.244 million tonnes, the State Statistics Committee said on Monday.
US Warns Companies Over Russian Oil Price Cap Evasion Via ESPO Pipeline
The U.S. Treasury published a warning to U.S. companies on Monday of possible evasions of the Russian oil price cap exported through the Eastern Siberia Pacific Ocean (ESPO) pipeline and ports in eastern Russia.
US Oil Activity in Colorado, Wyoming Slips, Further Slowing Ahead
Oil and gas activity in the U.S. Midwest and Mountain West states declined in the first quarter and is expected to continue to slow, according to a survey released on Friday by the Federal Reserve Bank of Kansas City.
Iraq's Northern Oil Exports Stuck on Turkey Negotiations
Oil exports from northern Iraq to the Turkish port of Ceyhan remain at a standstill almost three weeks after an arbitration case ruled Ankara owed Baghdad compensation for unauthorized exports.
IEA: Global Oil Market Could Be Tight in Second Half 2023
The global oil market could see tightness in the second half of 2023, which would push oil prices higher, Fatih Birol, executive director of the International Energy Agency, said on Wednesday.
Biden's Subdued Reaction to OPEC+ Cuts Foreshadows Economic Slowdown, Carries Risk
When OPEC+ made a surprise decision earlier this month to cut oil production, President Joe Biden responded with the political equivalent of a shrug – a far cry from his declaration that there would be “consequences” for Saudi Arabia, the de facto head of the oil cartel, when it lowered output in October.
US Plans to Refill Strategic Reserve If Advantageous to Taxpayers This Year
The Biden administration plans to refill the U.S. Strategic Petroleum Reserve soon and hopes to refill it at lower oil prices if it's advantageous to taxpayers during the rest of the year, U.S. Energy Secretary Jennifer Granholm said on Wednesday.
Iraq Petitions US Court to Enforce Oil Export Arbitration Award Against Turkey
Iraq has petitioned a U.S. federal court to enforce an arbitration award against Turkey related to Iraqi oil exports through a pipeline to a Turkish port, according to documents filed with the court.
Sources: New Exxon Beaumont, Texas Crude Unit Completes Startup
The new 250,000 bbl/d Crude C CDU lifts the Beaumont refinery's capacity to 619,024 bbl/d, second only to the Motiva Enterprises refinery in nearby Port Arthur, Texas, the people said.
Rare Shipments of Forties Crude Head to East Coast Refiners
U.S. and Canadian refiners have turned to North Sea "Forties" crude oil for the first time in seven years in the latest sign of changing global oil flows from Russia's invasion of Ukraine.
US Official: White House Got 'Heads Up' on OPEC Cut Plans, Disagreed with Move
The Biden administration told Saudi Arabia officials that it disagreed with OPEC’s surprise decision to cut oil production when it was given a ‘heads up’ on the move, John Kirby, coordinator for strategic communications at the National Security Council, told reporters on Monday.
Sources: Baghdad Agrees to 30% Stake in TotalEnergies $27 Billion Iraq Energy Project
Baghdad has reached an agreement to hold a 30% stake in TotalEnergies long-delayed $27 billion Iraq project, three sources told Reuters on Tuesday, reviving a deal that Baghdad hopes could lure back foreign investment into the battered country which craves stability.
EIA: US Crude Output Rose in January to Highest Since March 2020
The EIA said that among the top oil-producing states, monthly output in Texas rose 1.5% to 5.24 million bbl/d, the highest since March 2020. In North Dakota, output jumped 10.2% to about 1.05 million bbl/d, the highest since November 2022.
Baghdad, Erbil Sign Deal to Restart Northern Oil Exports
Turkey stopped pumping about 450,000 b/d of Iraqi crude through a pipeline from the Fish-Khabur border area to its Ceyhan port on March 25 after Iraq won an arbitration case.
Sources: Ovintiv Nears $4 Billion Deal to Acquire EnCap’s Permian Oil, Gas Assets
Ovintiv Inc. is nearing a deal to acquire oil exploration and production assets in the Permian Basin that are controlled by private equity firm EnCap Investments for about $4 billion including debt, people familiar with the matter said on Sunday.
Iraq to Ask Turkey to Restart Northern Oil Exports After Initial KRG Deal
Iraq's federal government and the Kurdistan Regional Government (KRG) have reached an initial agreement to restart northern oil exports this week, a KRG spokesman said on Sunday, and Baghdad will write to Turkey to request a resumption in pipeline flows.
Uganda Approves Construction of 898-Mile Crude Pipeline
Uganda approves construction of 898-mile crude pipeline, Biden backs scaled-back ConocoPhillips Alaska oil project, construction of 106-mile gas pipeline to Serbia underway, Coastal GasLink pipeline costs expected to top $10 billion and more.
US Could Buy Back Oil for Strategic Reserve Late This Year
The U.S. could start buying back crude oil for the Strategic Petroleum Reserve late this year after President Joe Biden last year directed the largest ever sale from the stockpile, Energy Secretary Jennifer Granholm said.
Explainer: What Is the Iraq-Turkey Oil Pipeline Dispute and Who's on the Hook?
An international arbitration ruling on March 23 prompted the shutdown of Iraq's northern crude oil exports through Turkey and sent oil prices back towards $80 a barrel.
ABB India Automates 81-Mile India-Bangladesh Cross-Border Oil Pipeline
(P&GJ) — ABB India has delivered integrated automation and control solutions to enable the safe operation of the 130-km (81-mile) Indo-Bangla Friendship Pipeline (IBFPL), which will carry diesel from India to Bangladesh.
Oil Firms Halt or Cut Output in Iraqi Kurdistan After Pipeline Closure
Producers have shut in or reduced output at several oilfields in the semi-autonomous Kurdistan region of northern Iraq following a halt to the northern export pipeline, company statements showed, with more outages on the horizon.
Fed Survey: Activity in Top US Oil Fields Stall, Outlook Sours
U.S. oil and gas activity stalled in the first quarter as production gains slowed and drillers' outlooks turned negative, according to a survey released on Wednesday by the Federal Reserve Bank of Dallas.
Colombia Cano Limon-Covenas Oil Pipeline Pumping Suspended for 12 Days
Oil transportation company Cenit, a wholly owned subsidiary of Colombia's majority state-owned energy company Ecopetrol, has suspended pumping operations along the Cano Limon-Covenas pipeline for 12 days as of Tuesday due to attacks on the infrastructure, it said.
MOL Group Receives 617,000 Barrels of Crude Via the Adria Pipeline
(P&GJ) — MOL Group said this shipment constitutes well-to-wheel integration of its value chain as it will process and sell petroleum products refined at one of its own refineries using crude oil produced at a field it co-owns.
Senstar Wins Security Contract for Oil Pipeline Project in Africa
(P&GJ) — Senstar Technologies, a provider of sensing and information management solutions for the protection of critical infrastructure, has been awarded a significant oil pipeline project in Africa.
Iraqi Kurdistan Region's Oil Output at Risk After Turkey Halts Pipeline Exports
Oil production in Iraq's semi-autonomous Kurdistan region (KRI) is at risk after a halt in northern exports has forced firms operating there to divert crude to storage, where capacity is limited.
Army Corps Extends Line 5 Tunnel Review, Delaying Enbridge’s Pipeline Project by 18 Months
Canada's Enbridge Inc. said on Thursday it was "disappointed" by the U.S. Army Corps of Engineers' decision to extend the federal permitting process for the company's proposed Great Lakes Tunnel that would rehouse its Line 5 oil pipeline underneath the Straits of Mackinac.
Kazakhstan's KMG Starts Shipping Oil Via Caspian Sea to BTC Pipeline
Kazakhstan's state Kazmunaigaz (KMG) has started shipping oil to the BTC (Baku-Tbilisi-Ceyhan) pipeline in Azerbaijan, three sources familiar with the matter told Reuters, as it seeks alternatives to exporting via Russian ports.
EIA: US Crude Inventories Rise Unexpectedly to 22-Month High, Fuel Stocks Fall
U.S. crude oil stockpiles rose unexpectedly last week to their highest in nearly two years, while gasoline and distillate inventories fell, the Energy Information Administration said on Wednesday.
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- 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
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Texas Oil Company Challenges $250 Million Insurance Collateral Demand for Pipeline, Offshore Operations
