Oil
Plains Raises Pipeline Transportation Earnings Forecast as Costs Decline
Plains All American Pipeline LP raised its forecast for 2021 transportation segment earnings, as lower operating costs helped offset a decline in volumes shipped on its pipelines.
EXPLAINER: The Dakota Access Pipeline Faces Possible Closure
A U.S. court could order the Dakota Access Pipeline (DAPL) shut in coming weeks, disrupting deliveries of crude oil, and making nearby rail traffic more congested.
US Federal Land Policy Still Leaves Room for Winning Hands
State energy officials have been laser-focused on the Biden administration’s suspension of new oil and gas leasing on federal lands because it could eventually curtail Bakken production by more than 100,000 bpd.
Enterprise Products Oil Pipeline Volumes Drop Amid Winter Storms
Enterprise Products Partners LP said volumes across its pipelines dropped by 13% in the first quarter as producers and refiners were hit by winter storms, causing damage to facilities and disrupting shipments.
Winter Storms Hit Phillips 66 Partners' Q1 Pipeline Volumes
The amount of oil and gas shipped on Phillips 66 Partners LP pipelines fell about 6% in the first quarter as winter storms disrupted service and the COVID-19 health crisis continued to hamper fuel demand.
BNSF Can Handle More Crude-by-Rail Shipments if Dakota Pipeline is Shut, Railroad Says
BNSF, the railroad unit of Warren Buffett's Berkshire Hathaway Inc, is prepared to handle any increase in rail traffic if the Dakota Access oil pipeline (DAPL) is shut due to an ongoing legal dispute, the company told Reuters.
Forties Oil Work to Drive Drop in June Brent Benchmark Supply
The North Sea Forties crude oil stream will load only two cargoes in June, a copy of the shipment schedule showed, reducing supply of the crude that underpins the global Brent benchmark.
Dakota Access Pipeline Seeking Supreme Court Review in Fight to Keep Line Open
Dakota Access oil pipeline's operators plan to ask the U.S. Supreme Court to intervene in its ongoing legal battle to keep the 570,000 barrel-per-day line open, according to a court filing on Thursday.
Continental Resources Ramping Up Bakken Operations, Adds Rigs to Powder River Basin
Shale oil producer Continental Resources on Thursday said it will ramp up activity in North Dakota's Bakken shale field this year as it shifts more of its production operations to crude oil from natural gas.
Marcellus, Utica Ready to Pick Up Where They Left Off
Cautious optimism appears to be the name of the game for operators and others associated with the Marcellus and Utica Shales, according to representatives of key coalitions in the regions.
Texas February Freeze Cost About $1.6 Billion, Vistra Says
U.S. energy company Vistra Corp boosted the negative impact of winter storm Uri in Texas in February to about $1.6 billion from its prior estimate of $900 million to $1.3 billion.
Frustrated Canada Presses White House to Keep Great Lakes Oil Pipeline Open
Enbridge said shutting Line 5 would cause fuel shortages and gas price spikes, and require 15,000 trucks and 800 rail cars a day to replace deliveries to Ontario.
Oil and Gas Pipeline Market Could Grow 6% by 2026, Study Shows
The global oil and gas pipeline market is expected to grow at a compound annual growth rate of more than 6% from 2021 to 2026 despite the economic impact of COVID-19, according to a Research and Markets study.
U.S. Appeals Court Denies Dakota Access Pipeline Rehearing Request
A U.S. Appeals Court on Friday denied Dakota Access LLC's petition for a rehearing on an earlier court decision to cancel a key permit for the DAPL oil pipeline, court documents show.
Saudi Aramco to Refinance $10 billion Revolving Loans
Saudi Aramco is expected to refinance a $10 billion debt facility raised in 2015, two sources said, in what would be the oil giant's third major foray into the loan market this year.
Kinder Morgan Raises Outlook as Profit Surges on Winter Storm Demand
Kinder Morgan posted a quarterly profit that breezed past estimates, helping the U.S. pipeline operator raise its annual earnings forecast, on a demand surge for natural gas and electricity during the February winter storm.
Dakota Access Argues Pipeline Closure Would Cause 'Economic Shock'
The operators of the DAPL argued to a federal court that the system's shutdown would be even more harmful than previously anticipated, in their final plea to keep the line open after a key permit was scrapped.
Gulf of Mexico Crude Oil Production Will Increase with New Projects in 2021 and 2022
By the end of 2022, the EIA projects 13 new projects could account for about 12% of total Gulf of Mexico crude oil production, or about 200,000 bpd.
Med Red Land Bridge Inaugurates Operations Through EAPC Pipeline Network
The crude carrier contracted with Med-Red Land Bridge Company represents the first tanker to utilize the recently recommissioned 242 km (150 mi) pipeline owned by Europe Asia Pipeline Company.
Feds Critical of GOM Pipeline Abandonment Policy
The U.S. Government Accountability Office released a report that found the Department of Energy does not have “a robust oversight process” for ensuring the integrity of about 8,600 miles of active offshore oil and gas pipelines on the sea floor of the Gulf of Mexico.
February's Cold Weather Shut More U.S. Refinery Capacity Than Hurricane Harvey
A severe cold spell in mid-February knocked out a third of U.S. oil refining capacity, according to data compiled by Reuters and Wood Mackenzie.
Aramco Pipeline Investors to Refinance Loan with Bonds Next Year
EIG will lead a yet-unnamed consortium to issue billions of dollars in bonds across two or three transactions to replace bank debt backing an investment in Saudi Aramco’s oil pipeline assets, two sources said.
Canadian Crude Imports Fall 20% in 2020 Due to Pandemic
Imports of crude oil into Canada dropped 20% year-on-year in 2020 due to weak demand as a result of the COVID-19 pandemic, the Canada Energy Regulator said in an analysis.
Texas Oil Pipelines Face Dry Months as Production Languishes
By the fourth quarter, total utilization of the largest oil pipelines from the Permian is expected to drop to 57%, consultancy Wood Mackenzie said. The nadir during the last market bust in 2016 was roughly 70%.
Edge Computing Optimizes Pipeline Management
For midstream oil and gas companies, edge-computing platforms create opportunities that resolve long-standing problems and effectively enable real-time data in asset management and decision-making,
U.S. Shale Oil Output to Rise 13,000 bpd in May, EIA Says
U.S. oil output from seven major shale formations is expected to rise for a third straight month, climbing by about 13,000 bpd in May to 7.61 MMbpd, the U.S. Energy Information Administration said.
Canada Looks to Future Beyond Keystone XL, COVID-19
With production curtailments lifted and a post-COVID-19 upturn in sight, Canadian oil production is on the rise, prompting concerns that output from Alberta’s oil sands could again exceed takeaway capacity within a few years, even if current pipeline construction is completed.
LM Energy Launches Open Season to Extend Oil Gathering System in Northern Delaware Basin
The proposed extension of the system will gather crude oil from origination points in Eddy and Lea Counties, New Mexico and deliver to destination points also in Eddy and Lea Counties, New Mexico.
Uganda, Tanzania, Oil Firms Sign Accords to Build $3.5 billion Pipeline
Total's CEO said the pipeline is one of the largest projects they should develop on this continent, adding they expected oil production to commence in early 2025.
Aramco Agrees to $12.4 billion Deal to Sell Stake in Pipelines
Saudi oil producer Aramco has agreed a $12.4 billion deal to sell a 49% stake in its pipelines to a consortium led by U.S.-based EIG Global Energy Partners.
- 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
