Oil
Phillips 66 Shuts More Louisiana Facilities, Pipelines as Hurricane Approaches
Phillips 66 announced it is closing additional facilities in Louisiana in preparation of Hurricane Laura's landfall on Wednesday evening.
Hurricane Laura Poses Biggest Storm Threat to U.S. Oil and Gas in 15 Years
The oil and gas industry is shutting down production at facilities on the Texas and Louisiana Gulf Coast at a rate not seen since 2005's Hurricane Katrina as the region prepares for Hurricane Laura.
Minnesota Governor Appeals Enbridge Line 3 Regulator Approval
The Governor of Minnesota has appealed utility regulators approval Enbridge's Line 3 pipeline replacement project.
Stored Crude, Condensate Could be Shipped from Shuttered Libyan Ports
Exports of crude oil and condensate could restart soon from a few Libyan ports as authorities seek to draw down its storage and ease an electricity supply shortage.
China Ramps up U.S. Oil Purchases Ahead of Trade Deal Review — Sources
Shipments of U.S. crude oil into China are expected to rise in the coming weeks as the two countries begin to review a trade agreement signed in January.
ConocoPhillips Gets U.S. Green Light for Alaska Oil Project
The U.S. Bureau of Land Management approved ConocoPhillips' plan for drilling in Alaska's National Petroleum Reserve, including roads and pipelines to access the North Slope site.
Red Butte Pipe Line Announces Open Season
Red Butte Pipe Line, a subsidiary of Silver Creek Midstream, has announced an open season on a crude oil pipeline system in Wyoming.
Quality Issues Add Delays to Venezuela's Crude Exports — Documents
The worsening quality of crude oil exports from Venezuela is causing further delays in loading times at the state-run oil company PDVSA's main terminal according to internal company documents.
Canada Now Biggest Source of US Imports
Canada is the largest source of U.S. energy imports and the second-largest destination for U.S. energy exports behind only Mexico. Energy is an important component of trade between Canada and the United States.
Supreme Court Reinstates Permit 12, Excludes Keystone XL
The U.S. Supreme Court reinstated the Army Corps of Engineers’ (Corps) use of Nationwide Permit 12 but refused to let TC Energy resume construction of its Keystone XL pipeline under the fast-track permit.
Energy Transfer Vows to Keep Dakota Access Oil Flowing
Energy Transfer has vowed to fight a court order to shut down and empty the Dakota Access oil pipeline (DAPL), contending that U.S. District Judge James Boasberg overstepped his authority with the ruling.
Phillips 66 Plans to Shut Facilities, Pipelines Amid Renewables Shift
Phillips 66 has announced plans to close or convert some of its facilities along with the associated pipelines as part of the company's transition to renewable fuels.
Oil Rises After Bigger-Than-Expected Drop in U.S. Inventories
Benchmark prices for oil rose on Tuesday after an industry report showed a larger drawdown of U.S. crude inventories than analysts had expected.
Judge Gives U.S. Three Weeks to Detail Dakota Access Pipeline Options
A federal judge has ordered the U.S. Army Corps of Engineers to provide options for resolving the loss of a permit for the Dakota Access oil pipeline by the end of the month.
San Mateo Midstream Announces Binding Open Season
A subsidiary of San Mateo Midstream has announced a binding open season to gauge interest for a proposed expansion project.
BP Midstream Pipeline Volumes Fall 10% in Q2, Revenues Up
BP Midstream announced that pipeline volumes fell 10% in Q2 due to shrinking demand caused by the coronavirus pandemic while revenues for the company rose over the same period.
U.S. Appeals Court Allows Dakota Access Pipeline to Keep Running
A U.S. appeals court on Wednesday said that the Dakota Access Pipeline does not have to be shut and drained per a lower court order.
Petroperu Resumes Pipeline Operations After Coronavirus-Related Halt
Peru's state-run energy firm Petroperu has restarted pipeline operations after being halted due to concerns over the coronavirus.
MPLX Sees $100 Million Earnings Hit if Bakken Oil Pipelines Shut
MPLX, the midstream branch of energy firm Marathon, announced it could begin losing $100 million a year if closures of two North Dakota pipelines were to take effect.
Shell Midstream Cuts Costs as Demand Destruction Hits U.S. Pipeline Flows
Shell Midstream has announced spending cuts as demand fell across many of its U.S. pipeline operations.
U.S. Crude Output in May Plummets by Record 2 Million Barrels per Day
Data from the U.S. Energy Information Administration shows domestic crude output experienced its sharpest drop in 15 years in May.
Trump Allows Keystone Pipeline to Ship More Canadian Oil After Expansion Stalls
President Donald Trump has issued a presidential permit to allow TC Energy's Keystone oil pipeline to ship nearly 30% more Canadian crude as the company's' proposed expansion of the pipeline has again been stalled by legal hurdles.
TC Energy Profit Dips from Uncontracted Keystone Volumes
TC Energy reported a 6% drop in profits on Thursday partly due to a fall in uncontacted volumes on its Keystone oil pipeline.
Trump Seeks out Loyal Donors in West Texas Oilpatch
President Donald Trump's visit to a U.S. fracking hub on the West Texas plains comes during the state’s fierce coronavirus outbreak and a global oil and gas glut that is putting the squeeze on his loyal donors in the petroleum industry.
Enbridge Sees Improving Mainline Oil Volumes
Canadian pipeline operator Enbridge on Wednesday posted a quarterly profit slightly higher than analysts' estimates and said it sees volumes growing across the Mainline, North America's biggest oil pipeline network.
Pipeline Doubts put Bakken Shale Reboot on Hold
North Dakota oil producers face new pressures to delay bringing back more of their recently curbed output after a U.S. court ruling this month put in jeopardy the pipeline that transports most of the region's oil, executives and analysts said.
Once Canada's Oil Relief Valve, Rail Shipping Grinds to Near Halt
Crude-by-rail shipments in Canada, which hit record highs just five months ago, have all but come to a halt as global energy demand has plummeted opening up transport space on much cheaper pipelines.
China's Surging Crude Imports Mask Weakness in the Rest of Asia: Russell
Although China has been importing large amounts of crude oil in recent months, imports into the rest of Asia remain weak.
PipeChina to Take on $56 Billion of Pipelines to Boost Network Access
China is taking major steps to consolidate its midstream oil and gas sector with the newly formed state-owned PipeChina taking on more than $55 billion in assets.
Bounceback in U.S. Shale Output Unlikely to Last the Summer
While the slow reopening of the global economy has raised oil prices encouraging U.S. shale producers to roll back production curtailments, industry analysts don't expect shale production to fully return for quite a while.
- 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
