Oil
TC Energy to Switch to Green Power to Run N. American Energy Pipelines
Canadian pipeline operator TC Energy Corp could spend billions of dollars on its plans to lower emissions by switching to renewable energy to run its huge network of U.S. and Canadian oil and gas pipelines.
Mexican Methane Leak Rate 'Alarming' for Climate Change, Report Says
To blame for Mexico's poor record are mostly high emissions at midstream facilities that gather, compress, and process the gas, the report says. Other culprits are venting and flaring.
Enterprise Products Oil Pipeline Volume Rises on Demand Recovery
Enterprise Products Partners said on Wednesday volume across its crude oil pipelines rose 5% in the second quarter on the back of a recovery in demand as the global economy continues to reopen following COVID-19 lockdowns.
Inter Pipeline Walks Away from Pembina Deal in Favor of Brookfield Bid
Canadian pipeline operator Inter Pipeline on Monday decided against recommending a C$8.5 billion ($6.77 billion) deal with rival Pembina Pipeline Corp to shareholders and instead chose to pursue a higher bid from Brookfield Infrastructure Partners.
U.S. Drillers Add Oil and Gas Rigs for Fourth Week in a Row
U.S. energy firms added oil and natural gas rigs for a fourth week in a row for the first time since May, spurred by higher oil prices although growth in drilling has been modest as producers favor spending austerity.
Republic of Panama, Energy Transfer Studying Potential Trans-Panama Gateway Pipeline
The Republic of Panama and Dallas-based Energy Transfer LP announced that the parties have signed a Memorandum of Understanding (MOU) to study the feasibility of joint participation in a proposed Trans-Panama Gateway Pipeline project.
Ecopetrol Reports Recovery of Operations After Stabilization in Colombia
Ecopetrol reported the recovery of its operations in the upstream, midstream, downstream and sales and marketing segments in Colombia, in connection with the adverse impacts the company had observed because of restrictions on mobility.
Petrobras' Albacora Seen Drawing At Least Three Buyers
Petrobras' Albacora oilfields in Brazil are likely to attract at least three buyers despite a roughly one-month delay to let interested parties finalize their bids, four sources with knowledge of the matter told Reuters.
U.S. Drillers Add Oil and Gas Rigs for Second Week in a Row
U.S. energy firms added oil and natural gas rigs for a second week in a row as oil prices recently rose to their highest since Oct. 2018, prompting some drillers to return to the well pad.
NGL Energy Partners Announce Open Season for Grand Mesa Pipeline
NGL Energy Partners announced that a binding open season began Friday for its wholly owned affiliate Grand Mesa Pipeline’s crude oil pipeline.
Perspective: U.S. Petroleum Inventories are Becoming Tight
U.S. petroleum inventories have fallen below the pre-pandemic five-year average with consumption accelerating but crude producers slow to respond to rising prices, signaling more supply is needed.
North Dakota Sues Federal Govt Over Canceled Oil and Gas Leasing
North Dakota is suing the U.S. government on claims the Department of the Interior and the Bureau of Land Management illegally canceled oil and gas lease auctions in the state.
Norway’s Pipeline Sector Continues to Grow
Norway has benefited from North Sea oil and gas for over half a century. At the start of 2021, Norway was the world’s third-largest gas exporter and fifteenth biggest oil producer after Qatar, reported the BP “Statistical Review of World Energy 2020.”
Record-Breaking Summer European Gas Prices Signal an Expensive Winter
European gas prices vaulted to record highs this summer, driven by factors ranging from low inventories and outages to an Asian buying spree, and signaling further rises in coming months that could mean higher household bills this winter.
Company Cancels Byhalia Connection Pipeline Project
Byhalia Connection LLC announced it is no longer pursing the Byhalia Connection construction project, which had called for the construction of an oil pipeline through southwest Tennessee and northern Mississippi.
Mexican Oil Giant Says No Environmental Damage from Raging Gulf Fire
Days after video of a massive ocean surface blaze near a Pemex oil platform in the Gulf of Mexico went viral, Mexico's national oil company has declared that environmental damage was avoided due to quick action by its workers.
Oman State Energy Firm OQ May Sell Drilling Business
Oman state energy company OQ is considering selling its drilling unit Abraj Energy Services, sources said, as the Gulf nation seeks to shore up its finances that have been hit by the coronavirus pandemic and last year's oil price plunge.
TC Energy Files $15B NAFTA Claim Over Keystone XL Cancellation
TC Energy Corporation filed a Notice of Intent to initiate a legacy North American Free Trade Agreement claim under the United States-Mexico-Canada Agreement to recover economic damages resulting from the revocation of the Keystone XL Project’s Presidential Permit.
Nigeria Losing 200,000 BPD to Pipeline Damage, Minister Says
Nigeria is losing an average of 200,000 barrels of oil per day - more than 10% of its production - to pipeline vandalism, the country's information minister said on Monday.
Energy Trader Mercuria Posts Record Profit for Volatile 2020
Mercuria Energy Group had a boom year in 2020, buoyed by the extreme volatility seen in oil markets caused by the COVID-19 pandemic, as well as very strong returns across its portfolio, particularly gas and power.
EBRD Stops Investing in Upstream Oil and Gas to Align with Paris Goals
The European Bank for Reconstruction and Development will stop investing in upstream oil and gas projects as part of plans to align its activities with the goals of the Paris Agreement, but will continue to finance select projects in the midstream and downstream sectors.
Perspective: Rising Oil Price Will Draw Response from Consumers
Oil prices have risen above the long-term average, once adjusted for inflation, and are likely to encounter increasing resistance from consumers if they continue to climb.
Shell Plans to Exit California Joint Venture with Exxon Mobil
Royal Dutch Shell Plc plans to leave Aera, its California-based oil and gas-producing joint venture with Exxon Mobil Corp, four people familiar with the talks told Reuters.
Ecuador Races to Move Oil Pipelines, Protect Power Plant from Raging River
Two dozen workers using six excavators cleared a strip of heavy forest in the foothills of Ecuador's Reventador volcano on an overcast June morning, rushing to carve a new route for an oil pipeline in hopes of avoiding a repeat of the country's worst oil spill in decades.
Nigerian Lawmakers Pass Historic Oil Overhaul Bill
Both chambers of Nigeria's parliament have passed a bill that overhauls nearly every aspect of the country's oil and gas production, putting a project that has been in the works for two decades one step closer to presidential sign-off.
Argentina NatGas Woes Risk Slide Back into Energy Deficit
Argentina, which had steadily dug itself out of a deep energy deficit to post a slender surplus last year, is set to sink back into an energy hole this year that could reach $1 billion due to local natural gas shortfalls driving the need for expensive LNG imports.
EU Countries Approve Landmark Climate Change Law
European Union countries on Monday gave the final seal of approval to a law to make the bloc's greenhouse gas emissions targets legally binding, as EU policymakers prepare a huge new package of policies to fight climate change.
Libya’s Civil War Stifling Growth of Pipeline Industry
The prolonged civil war in Libya continues to lock out potential investments in greenfield oil and gas pipeline projects with the National Oil Company. International oil companies are left with the option of investing in repairs and maintenance of existing oil and gas transportation infrastructure.
U.S. Infrastructure Deal Includes $6 Billion Sale from Oil Reserve
The infrastructure deal struck by a group of bipartisan senators and President Joe Biden on Thursday is partially funded by a $6 billion sale from the U.S. emergency oil reserve, according to a document circulated by Republican lawmakers.
Trans Mountain Allowed to Resume Tree Clearing for Oil Pipeline Project
The Canada Energy Regulator this week lifted a stop work order on Trans Mountain Corporation that restricted tree clearing and mowing across the oil pipeline project to protect the environment and migratory birds.
- 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
