Oil
Biden: US Has Tools to Respond to OPEC+ Withholding Oil Supply
United States President Joe Biden said his administration has ways to deal with high oil prices after OPEC and its allies rebuffed U.S. pleas for the producers to pump more crude.
Colombia Oil Theft Surges as Smuggled Gasoline Dries Up, Data Show
Gasoline is a key component in making cocaine but there have been shortages of the fuel in Venezuela, so criminal groups in Colombia are tapping pipelines for ever more crude, which they must later refine.
Magellan Raises Forecast for Refined Products Shipments on Jet Fuel Demand
The pipeline operator said it expected the shipments to rise 14% from 2020, compared with 13% earlier, as volumes from expansion projects in Texas overcome the lingering impact of the COVID-19 pandemic.
Tanzania GDP to Expand 5.2% in 2022 From Estimated 5% in 2021
The finance minister said the 2022/23 budget would focus on construction of a standard gauge railway, a 2,115-MW hydropower dam in eastern Tanzania, a crude oil pipeline from Uganda and an LNG processing plant.
Canadian Pipeline Companies Enbridge, TC Energy Report Higher Profits
Canada's largest pipeline companies Enbridge Inc. and TC Energy Corp. reported a rise in third quarter profits on Friday, helped by rising demand for oil and gas that boosted pipeline volumes.
Added Transnational Oil Pipeline Capacity Could Reduce Crude Oil Shipped by Rail
Because the Line 3 replacement project increases the capacity to import crude oil by pipeline from Canada, this pipeline could reduce the need to ship crude oil from Canada by other modes, especially rail.
Iraq Oil Ministry Says Pipeline to Jordan Needs to Cost Under $9 Billion
The Iraqi oil ministry said on Wednesday the cost of a long-planned oil pipeline to Jordan's Aqaba port city should be brought under $9 billion for the project to go ahead.
Enterprise Products Oil Pipeline Volume Up 18% as Demand Recovers
Volumes on its natural gas liquids, crude oil, refined products and petrochemical pipelines have substantially recovered to near pre-pandemic levels despite temporary shut-ins from Hurricane Ida, the company said.
US Unveils Crackdown on Methane from Oil and Gas Industry
The Biden administration unveiled a plan to slash emissions of the greenhouse gas methane from oil and gas operations, drawing cautious support from both environmental groups and drillers.
Petroperu Warns of Possible Fires at Pumping Station Occupied by Protesters
Petroperu warned on Monday that protesters who seized a pumping station of an oil pipeline a month ago risked causing fires and explosions at the facility, located in an Amazon jungle region of the country.
Biden Pushes G20 Energy Producing Countries to Boost Production
With oil and gas prices surging, some energy-producing countries such as Russia and Saudi Arabia have not boosted output enough to satisfy countries that are largely energy consumers and worry about energy shortages and inflation.
Congress Puts Big Oil in the Hot Seat in Climate Deception Probe
The U.S. Congress opened a year's worth of investigations into whether Big Oil deceived Americans about its role in climate change, with Democratic lawmakers planning to grill the chiefs of four oil companies and two lobby groups.
Democrats Scramble to Salvage US Methane Fee Proposal
Democrats are considering paring down a proposed methane fee on United States oil and gas producers as a way to pacify opposition to the idea from within its own ranks.
Libya's NOC Says Pipeline Leak Will Need Days of Maintenance
A major leak in the pipeline running to Libya's Es Sider terminal has led to the pipeline being shut down and it will require seven-10 days of maintenance, National Oil Corp's media department said.
Phillips 66 to Acquire Remaining Stake in Partnership for $3.4 Billion
Phillips 66 Partners was formed by the refiner to own, operate, develop and acquire primarily fee-based crude oil, refined petroleum products and natural gas liquids pipelines, terminals and other midstream assets.
Crestwood Equity to Boost US Shale Footprint With $1.8 Billion Deal
Oil and gas pipeline operator Crestwood Equity Partners LP will buy Oasis Petroleum Inc.'s midstream unit in a $1.8 billion deal to expand its footprint in United States shale basins.
Citgo Boards in Last-Ditch Talks with Washington to Keep Creditors at Bay
The supervisory boards of Venezuela-owned Citgo Petroleum have held talks with U.S. officials in Bogota, Colombia, seeking to extend Washington's protection while Citgo pursues negotiations with creditors.
Shell Expects Ida-Hit Offshore Facility to Restart in November
Shell expects an offshore transfer facility, which was shut due to damage from Hurricane Ida, to be operational in the first half of November, restarting production of a popular Gulf of Mexico crude grade earlier than expected.
Texas Pipeline Operator Altus to Combine with Blackstone-Backed BCP Raptor
Altus Midstream Co. said it would merge with BCP Raptor, a holding company for pipeline assets in the Permian Basin owned by investment firms, with the combined entity to be valued at $9 billion inclusive of debt.
Sources: US Slowing Down Oil and Gas Mergers
Regulators have extended the approval process for at least five oil and gas mergers and acquisitions in the last three months, as President Joe Biden's administration scrutinizes deals in a bid to tackle soaring energy prices.
Exxon Board Debates Dropping Several Major Oil and Gas Projects
The board members expressed concerns about some projects, including a $30 billion LNG development in Mozambique and another multibillion-dollar gas project in Vietnam, the WSJ report said.
Enbridge Briefly Shut Down Line 5 After Protesters Tampered with Pipeline
Enbridge Inc. shut down its Line 5 oil pipeline for several hours on Tuesday after protesters trespassed onto a facility in Michigan and tampered with the pipeline, an Enbridge spokesman said on Wednesday.
Colombia ELN Guerrillas Claim Responsibility for Attacks on Oil Pipeline
Left-wing guerrillas from the National Liberation Army in Colombia have claimed responsibility for an attack against a pipeline used to transport crude to the country's most important refinery.
Hungry for Fuel, China Looks to the US, Europe Eyes Relief Plans
China's energy crisis deepened on Friday with coal prices hitting a record high as cold weather sweeps in and soaring gas prices prompting major energy companies to seek long-term deals with U.S. suppliers.
Energy Crisis Could Threaten Global Economic Recovery, Says IEA
Oil and natural gas prices have soared to multi-year highs recently, sending power prices surging to record levels as widespread energy shortages hit Asia and Europe.
Energy Crunch Stokes Inflation, Economic Recovery Concerns
Authorities from Beijing to Delhi scrambled to fill a yawning power supply gap on Tuesday, triggering global stock and bond market wobbles on worries that rising energy costs will stoke inflation.
Sudan Running Low on Fuel Oil and Wheat Due to Port Blockade
A three-week blockade of Sudan's main port by tribal protesters is causing shortages of wheat and fuel oil for power generation, endangering the country's already faulty electricity supply, a cabinet minister said.
Chief Oil & Gas Explores Sale for More Than $3 Billion
Chief Oil & Gas LLC, the Appalachian exploration and production company founded and controlled by Texas wildcatter Trevor Rees-Jones, is exploring a sale that could value it at more than $3 billion.
Texas’ Midland Basin Accounts for 15% of US Crude Oil in 2020
Texas’s Midland Basin, part of the larger Permian Basin, which spans parts of western Texas and eastern New Mexico, is made up of many stacked hydrocarbon-bearing formations.
California Lawmakers Vow to Investigate Offshore Oil Spill
Democratic members of Congress from California seized on the oil spill off the state's coast to call for investigations into why it took several hours before a pipeline operator reported the spill to federal authorities.
- 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
