Oil
Oil Workers Strike Over Wages in Blow to Argentina's Vaca Muerta
Argentina's largest oil union on Monday began an indefinite strike to press its demand for a wage hike to make up for the loss of purchasing power due to high inflation, a union leader said, a potential blow to activity in the Vaca Muerta shale fields.
Brent Hits $94/Barrel as Some Analysts Predict $100 Oil
Oil prices rose on Monday, reversing earlier losses, as investors kept bullish sentiment on expectations that global supply would remain tight as demand picks up and shrugged off signs of progress in the U.S.-Iran nuclear talks.
Ecuador Pipeline to Take Longer to Restart Due to New Damage
Repairs to an OCP Ecuador pipeline damaged by falling rocks will take more than a week because of new damage sustained in the same area.
Peru Facing Fuel Shortage after Suspending Repsol Operations
Peru is facing a fuel shortage after the government banned Repsol SA from unloading any new oil into a local refinery after a large oil spill last month, its new prime minister said Thursday.
OPEC+ Sticks to Planned Output Rises Despite Oil Price Rally
OPEC+ agreed on Wednesday to stick to moderate rises in its oil output with the group already struggling to meet existing targets and wary of responding to calls on its strained capacity for more crude.
Venezuelan Oil Exports Fall Amid Returned Cargoes
Venezuela's oil exports plummeted in January to the lowest level since September amid loading bottlenecks caused by returned and rescheduled crude cargoes, according to internal documents and tanker tracking data.
Exxon to Raise Permian Basin Output by 25% This Year
Exxon Mobil Corp on Tuesday said it plans to raise production volumes in the largest U.S. shale basin by 25% this year on top of a similar increase in 2021.
OPEC+ Committee Trims 2022 Oil Surplus Forecast
The OPEC+ Joint Technical Committee revised its projected oil 2022 surplus to 1.3 MMbpd this year, slightly less than its previous forecast of 1.4 MMbpd, but left its demand forecast unchanged.
Shell Re-Routes Oil Supplies after Cyberattack on German Firm
Shell said on Tuesday it was re-routing oil supplies to other depots following a cyberattack on two subsidiaries of German logistics firm Marquard & Bahls that disrupted IT systems and supply chain.
US Unveils $1.15 Billion for Abandoned Oil and Gas Well Cleanup
The Biden administration said it would make $1.15 billion available to states to clean up abandoned oil and gas wells as part of a broad effort to reduce U.S. climate warming emissions.
Ecuador Oil Spill Affected Protected Area in Amazon, Government Says
A burst pipeline in Ecuador caused an oil spill within a protected area of the country's Amazon rainforest, the environment ministry said, adding that the pipeline operator will face legal consequences.
Pipe Burst Leads Ecuador Pipeline Operator to Suspend Pumping Crude
OCP Ecuador, the operator of Ecuador's privately held heavy crude pipeline, suspended pumping crude as a preventative measure after it ruptured in the Amazon.
Thai Oil Spill Cleanup to Take 5 More Days, Navy Says
An oil spill caused by a leak from an undersea pipeline 20 km (12.4 miles) off Thailand's eastern coast will take at least five more days to clear, its navy said on Thursday.
Peru Reports Small New Oil Leak During Clean-Up of Prior Spill
Spain's Repsol SA, which was removing remnant crude oil from a pipeline 18 meters (59 feet) under the surface of the sea, said the escaped oil was an expected part of the process and contained.
Kinder Morgan Profit Tops Expectations on Higher Gasoline, Jet Fuel Volumes
Kinder Morgan beat Wall Street expectations for fourth-quarter profit, as the U.S. pipeline operator transported higher volumes of gasoline and jet fuel with demand rising.
Oil Hits 2014 Highs as Turkey Outage Adds to Supply Concerns
Oil prices rose for a fourth day on Wednesday after a fire on a pipeline from Iraq to Turkey briefly stopped flows, increasing concerns about an already tight short term supply outlook.
Added Transnational Oil Pipeline Capacity Could Reduce Oil by Rail
The Enbridge Line 3 replacement pipeline, which delivers crude oil from Edmonton, Alberta, Canada, to Superior, Wisconsin, became fully operational on Oct. 1, increasing the pipeline’s capacity to 760,000 bpd.
Crude Oil Demand Returns Faster Than Supply
The price of U.S. benchmark West Texas Intermediate crude oil is near its highest level since 2014, increasing rapidly from low prices in mid-2020.
Oil Flow Resumes in Kirkuk-Ceyhan Pipeline After Blast in Turkey
The flow of crude oil through the Kirkuk-Ceyhan pipeline has resumed, after it was halted on Tuesday due to a blast near the pipeline in the southeastern Turkish province of Kahramanmaras.
Mega-Field of Zama Draws Big Investment in Mexico
Although Pemex has yet to present a development plan for the Zama oil field, exploration company Talos Energy recently said its value, regardless of operator and equity splits, will be in “multiples of invested capital to date.”
Saudi-Polish Deal Dents Russian Oil Dominance in Baltic
Saudi Arabia’s planned purchase of Polish refining assets is set to put OPEC's top producer in charge of two thirds of Poland's oil supply, eroding previously dominant supplier Russia's leverage.
Canada's Trans Mountain Oil Pipeline Returns to Normal Operating Pressure
Canada's Trans Mountain pipeline returned to normal operating pressure on Saturday, it said in a statement, after functioning at reduced pressure for over a month.
Kazakh Ex-Leader's In-Laws Leave Key Energy Sector Jobs
Two members of former Kazakh president Nursultan Nazarbayev's extended family have resigned from the leadership of state oil and gas shipping companies.
Indian Oil to Invest $944 Million on Gas Sales Network in Nine New Areas
Indian Oil Corp, the country's top refiner and fuel retailer, aims to invest 70 billion rupees ($944.02 million) to build gas sales network infrastructure, including pipelines.
Aramco Oil Pipelines Investors Miss Funding Goal With $2.5 Billion Bond Sale
A group of institutional investors that took a stake in Saudi Aramco's oil pipelines network sold $2.5 billion in dual-tranche amortizing bonds, significantly below the amount sought.
Norway Oil and Gas Output to Rise 9% by 2024, Regulator Says
Norway is set to boost its petroleum output by more than 9% by 2024 buoyed by a jump in investment in the country's biggest export sector.
Illinois Court Vacates Approval of Dakota Access Pipeline Capacity Expansion
An Illinois appellate court vacated approval from the Illinois Commerce Commission to allow expanding the Dakota Access pipeline capacity up to 1.1 million barrels per day.
Worrying About Moving More Swiftly than Usual
In January 2020, Russia’s government approved a number of acts concerned with rendering new economic benefits and subsidies to businesses or investors willing to engage in projects in the country’s High North.
Russia Making Moves Affecting the Arctic’s Hydrocarbon Future
This is Part 2 of PGJ's article on Russia’s moves under its Strategic Development Act. The strategy gives particular significance to Murmansk Oblast, emphasizing a broad range of complex and multifaceted transformative measures targeting this province.
Oil Slips, But Gains 5% in the Week on Kazakh, Libyan Concerns
Production in Libya has dropped to 729,000 barrels per day from a high of 1.3 million bpd last year, partly due to pipeline maintenance work.
- 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
