Oil
Brookfield Launches Hostile Bid to Buy Canada's Inter Pipeline
Brookfield Infrastructure Partners said on Monday it formally launched its hostile bid to buy Inter Pipeline Ltd, weeks after the Canadian oil and gas transportation company rejected its unsolicited offer as inadequate.
Oil Producers Eye Long Road to Recovery as Texas Thaws
Shale oil producers in the southern United States could take at least two weeks to restart the more than 2 million barrels per day (bpd) of crude output that shut down because of cold weather, as frozen pipes and power supply interruptions slow their recovery, sources said.
Texas Oil Refiners Will Take Weeks to Recover, Boosting U.S. Gas Prices
Texas oil refineries shut by cold-weather disruptions may take several weeks to resume normal operations, industry experts said on Friday, helping to push up fuel prices.
As Power Returns, Texas Energy Firms Slowly Emerge from Deep Freeze
Texas energy companies on Friday began preparing to resume oil and gas production after days of frozen shutdowns as electric power and water service slowly resumed at darkened oilfields and refineries.
Energy Transfer Upping NGL Investments as Oil Pipeline in Doubt
Energy Transfer LP executives said the company is deepening its investments in natural gas liquids (NGLs) as crude oil pipeline shipments decline and as the company faces the possible closure of its Dakota Access line.
TC Energy Profit Rises 13% on Earnings from U.S. Gas Pipelines
TC Energy Corp reported a 13.4% rise in fourth-quarter comparable profit on Thursday, partly helped by lower operating costs for its U.S. natural gas pipelines.
Texas Oil Producers Still Shut; Governor Bans Natural Gas Exports
The Texas governor ordered a ban on natural gas exports from the state to try to speed the restoration of power, which could heavily impact Mexico.
Energy Transfer to Acquire Enable Midstream for $7 billion
Dallas-based Energy Transfer and Oklahoma City’s Enable Midstream Partners are merging after agreeing that Energy Transfer will acquire Enable for an all-equity $7.2 billion deal.
Texas Energy Sector Struggles to Thaw After Deep Freeze
Texas produces more oil and natural gas than any other U.S. state, and its operators, unlike those in North Dakota or Alaska, are not used to dealing with frigid temperatures.
Norway Oil Firms Raise 2021 Investment Plans
Oil and gas firms in Norway have increased their 2021 investment plans in recent months, but still plan to spend less than last year and to reduce spending in 2022.
Magellan Midstream Launches Open Season for Potential New Mexico Pipeline Expansion
The nearly 250-mile pipeline segment currently transports various grades of gasoline and diesel fuel from Magellan's terminal in El Paso, Texas to terminals in Albuquerque, New Mexico.
Texas Deep Freeze Hits Energy Sector
A deep freeze in Texas that started over the weekend continued to wreak havoc on the U.S. energy sector on Tuesday, grounding operations at the Houston Ship channel and curbing output in the nation's largest oil field in the Permian, while several of the biggest oil refineries remained offline.
Oil Prices Close to 13-month Highs, Supported by Texas Cold Snap
Oil prices hovered near 13-month highs on Tuesday, supported by a U.S. cold snap that shut wells in Texas, though gains were capped by a Norwegian wage deal that averted supply disruptions in Europe.
Argentina's Shale Oil Drives Rebound
Oil output from the Vaca Muerta region in Patagonia, which holds the fourth-largest shale oil reserves in the world, stalled during the coronavirus pandemic but hit a record high in December as producers revved up wells with an eye on rebounding prices and a new export market.
Russell: Australian Refinery Closure Adds to Litany of Energy, Climate Failures
The closure of one of Australia's last remaining oil refineries, carbon border taxes in Europe and a proposal for the world's biggest battery storage plant all show a failure to produce a coherent climate change policy.
Unsolicited, Brookfield Offers $5.6 billion for Canada's Inter Pipeline
Brookfield Infrastructure Partners L.P. made an unsolicited C$7.08 billion ($5.6 billion) offer on Wednesday to buy Canada's Inter Pipeline Ltd as it seeks to benefit from rebounding oil and gas demand, after an approach last year was rebuffed.
CorEnergy Acquires Crimson’s California Pipeline Assets
CorEnergy Infrastructure Trust announced the acquisition of Crimson Midstream Holdings, a California Public Utilities Commission regulated crude oil pipeline owner and operator, for consideration valued at approximately $350 million.
EIA: U.S. Crude Output to Fall More than Previously Forecast This Year
The U.S. government on Tuesday lowered its outlook for crude oil production in 2021 to 11.02 million barrels per day from 11.1 million bpd previously forecast, while oil prices rose on Tuesday for their seventh straight session of gains.
Saudi Aramco Prepares $10 billion Financing for Pipeline Business Buyers
Saudi Aramco is preparing a financing package of up to $10 billion that it could offer to buyers of its pipeline business unit, three sources said, as the oil giant seeks to extract value from its assets in an era of lower oil prices.
Chevron Offers to Buy Out Noble Midstream
Now Noble Midstream's largest customer, Chevron said taking full ownership of the assets will help it streamline their governance and is in line with the producer's long-term interests.
Enterprise Products Misses Profit Estimates as Costs Surge
The COVID-19 pandemic has crushed global fuel demand and ended a boom in U.S. shale production, forcing pipeline companies that run oil from fields to refineries and export terminals to slash fees to ensure customers keep using their networks.
Phillips 66 Announces Midstream Growth Along with Fourth Quarter Loss
Phillips 66 announced an adjusted loss of $507 million in the fourth quarter of 2020, compared to an adjusted third-quarter loss of $1 million.
Russia's Litasco to Financially Help Iraq's Nassiriya Oilfield Double Output
The deal which was approved by the cabinet on Tuesday includes building a 100,000 bpd oil production facility and a 42 km oil pipeline.
Magellan Midstream, Enterprise Combine to Develop Houston Oil Futures Contract
The midstream infrastructure companies said the project is in response to market interest for a Houston-based index with greater scale and price transparency.
Big U.S. Oil Drillers Have Federal Permits to Last Years
The seven companies that control half the federal supply onshore in the Lower 48 states have leases and permits in hand that could last years, despite any ban on new federal drilling like the 60-day halt Biden's administration instituted.
U.S. Set for Record Canadian Oil Imports Even Without Keystone XL
Even without Keystone, the United States now relies on Canada for more than half of its imported oil. Several of the lines carrying that crude are in the midst of expansions.
Oil Steadies After Unexpected Increase in U.S. Crude Stockpiles
Oil prices steadied on Thursday after industry data showed a surprise increase in U.S. crude inventories that revived pandemic-related fuel demand concerns, while U.S. stimulus hopes buoyed prices.
TC Energy Cutting Jobs after Biden Revoked Keystone Permit
TC Energy Corp will eliminate more than 1,000 construction jobs in coming weeks and halt work on the Keystone XL oil pipeline after U.S. President Joe Biden revoked the project's presidential permit.
World Petroleum Congress on Track One Year Out
With slightly less than one year to go until the opening day, momentum continues to build behind the 23rd World Petroleum Congress (WPC), which looks set to continue into 2021.
Oil Rises Amid U.S. Stimulus Hopes, Anticipated Changes Under Biden
Oil edged higher on Wednesday on expectations that U.S. President Joe Biden's administration will deliver hefty pandemic-related economic stimulus that will lift fuel demand and enact policies that will tighten crude supply.
- 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
