Oil
Bakken Restart: Back to Basics with Idle Wells
Abandoned wells have long been a part of the more-than-a-century-old American oil and gas industry, but industry and state regulators have become more thorough in mitigating and remediating these retired well sites.
Michigan Governor Seeks Shutdown of Great Lakes Oil Pipeline
Michigan Gov. Gretchen Whitmer took legal action to shut down the Line 5 pipeline, which carries oil beneath a channel linking two of the Great Lakes.
Minnesota Approves Enbridge Line 3 Pipeline Project
Minnesota regulators approved Enbridge's $2.6 billion Line 3 pipeline replacement project, clearing one of the last remaining hurdles for U.S. construction to begin.
DAPL's Future Uncertain as Biden Presidency Looms
The election of Democrat Joseph Biden could create more headaches for the Dakota Access Pipeline's (DAPL) owners, who are already embroiled in legal battles to keep the main conduit for flowing oil out of North Dakota running.
Energy Transfer Sues North Dakota for Return of Documents
Dakota Access Pipeline developer Energy Transfer is suing for the return of thousands of documents held by North Dakota, saying the disclosure of those records could present a security risk.
Brent touches $45 on Vaccine Hopes and Storage Drawdown
Global oil benchmark Brent rose on Wednesday, briefly touching a more than two-month high above $45 a barrel on hopes of a COVID-19 vaccine and U.S. crude storage drawdowns.
Tanker Traffic to Venezuela Suggests Oil Export Rebound
At least 18 oil tankers are expected to load oil for export from Venezuela in the coming weeks, according to tracking data and internal documents from state-run PDVSA, in a sign the sanctioned OPEC nation's crude exports may rebound this month.
Iran Says it Exports 700,000 bpd of Oil, Later Denies
An Iranian official said Tehran exported up to 700,000 bpd of oil since March, but an Iranian news agency later quoted him as casting doubt on the figure, which had been kept secret as the country fights U.S. sanctions.
Successful Vaccine Would Boost Oil Consumption, But Not for 6-12 Months
Coronavirus vaccines are expected to boost international passenger transportation and oil consumption, but futures prices suggest the first significant impact will not be felt until well into the second half of 2021.
Ecuador Crude Output Reduced by Pipeline Ruptures, Budget Cuts
Ecuador expects its crude output to end 2020 "significantly" below initial expectations due to budget cuts at state oil companies and the rupture of two key pipelines earlier this year, Energy Minister Rene Ortiz said.
Oil Demand Likely to Take at Least a Year to Hit 2019 Levels - Gunvor Head
Global demand for oil is running about 5-6 MMbpd below pre-coronavirus crisis levels, and OPEC with its allies is likely to prolong its existing cuts, the head of trading house Gunvor said on Monday.
Energy Leaders Leave Door Open to More Cuts as Virus Spikes
Saudi Arabia's energy minister said Monday that global energy producers have the ability to tweak an agreement on production cuts that could be extended through the end of 2022, signaling the anticipation of continued weakened demand for oil as the coronavirus pandemic peaks again in Europe and the United States
Oil Jumps on Vaccine Hopes, OPEC+ Supply Signals
Oil jumped by almost 10% on Monday for its biggest daily gain in more than six months after Pfizer announced promising results for its COVID-19 vaccine candidate and Saudi Arabia said an OPEC+ oil output deal could be adjusted to balance the market.
China Oil Imports Probably Weaker than Data Suggests
China's imports of crude oil slipped as expected in October, but while a 12.2% drop appears significant, the actual state of demand was probably even weaker.
Rolling Back Trump's Rollbacks: Biden Seen Reversing Climate Deregulation
Joe Biden could erase much of President Donald Trump’s four-year legacy of energy and climate deregulation with the stroke of his pen, according to regulatory experts, but replacing it with something new and durable may prove trickier.
Oil Pipeline Catches Fire in Western Siberia
A pipeline at an oilfield operated by a subsidiary of Gazpromneft, the oil arm of Russian gas producer Gazprom, burst and caught fire early on Saturday.
Oil Steady as U.S. Election Uncertainty Dominates Markets
Oil prices were largely steady on Thursday as Democrat Joe Biden edged closer to the White House in a close U.S. presidential election, though doubts remain over further huge stimulus to bolster the economy in the face of the coronavirus crisis.
Coronavirus Surge Throws Oil Recovery into Reverse
Oil futures prices have started to signal OPEC+ may have to do more to offset a second wave of coronavirus and a renewed economic slowdown.
China to Step Up E&P, Pipeline Construction
China said it plans to step up its exploration of oil and gas, and speed up the construction of oil and gas pipelines and storage facilities, according to the official Xinhua News Agency.
Oil Rises 2% but Traders Brace for Wild Ride After U.S. Election
Oil prices rose near 2% on Tuesday, advancing with other financial markets on U.S. Election Day, although traders were bracing for volatility depending on the voting results and as surging coronavirus cases around the world fed worries about fuel demand.
Centurion Group Awarded Keystone XL Contract
Alberta-based Centurion Group announced that it has been awarded a contract for right-of-way work on a significant U.S. portion of the Keystone XL Pipeline.
Judge Dismisses Defamation Claim by Dakota Access Protester
A federal judge has dismissed part of a lawsuit by a New York City woman who was severely injured in an explosion while protesting the Dakota Access oil pipeline in North Dakota four years ago.
Frontier's Beta Crude Connector Announces Open Season
Beta Crude Connector, through its manager, Frontier Midstream Solutions IV, announced an open season for its BCC system crude oil pipeline located in West Texas.
Canada Opens Oil Taps as Demand Grows, Curbs Lift
Canadian crude producers are churning out extra barrels to finish their hardest year in decades on a higher note, after Alberta's government lifted restrictions and as demand for heavy oil surged.
Oil Prices Rise as U.S. Presidential Election Looms
Oil prices gained nearly 3% on Monday, rebounding from several days of losses built on concerns of rising coronavirus cases, one day before the end of U.S. presidential election voting.
Funds Sell Oil on Fears of Virus-Driven Economic Double Dip
Hedge funds sold petroleum last week as the rising number of coronavirus cases in the United States and Europe fueled fears of a double-dip recession hitting oil consumption.
Oil Falls on Demand Concerns, Posts Second Monthly Decline
Oil prices fell on Friday and posted a second consecutive monthly drop as rising COVID-19 cases in Europe and the United States heightened concerns over the outlook for fuel consumption.
Losses Mount for Oil Companies as Pandemic Grips Economy
Already struggling with weak prices from oversupply, the pandemic has intensified the pain for oil and gas companies.
U.S. Energy Secretary Doesn’t See Oil Production Returning Soon to Pre-Pandemic Levels
The U.S. Secretary of Energy told reporters at an industry conference on Wednesday that he does not expect the country's oil output to return to pre-pandemic levels until at least after 2021.
Enterprise Crude Pipeline Transport Volumes Drop Over 26% on Oil Price Plunge
Enterprise Products reported on Wednesday that crude volumes on its pipelines fell 26.1% as lower fuel demand caused by the coronavirus pandemic forced producers to slash output.
- 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
