Oil

Colombia Knocks Out Two Illegal Oil Refineries Belonging to Rebel Army

Colombian security forces neutralized two clandestine refineries in the country's northeast which belonged to the rebel National Liberation Army, the defense ministry said.

Pemex Plans Sharp Drop in Crude Exports as it Ramps Up Refining

Mexico's Petroleos Mexicanos (Pemex) said it would drastically reduce planned crude exports next year as the state oil company works to meet the government's target of refining all of its oil domestically.

China Oil Demand to Peak by 2030 - CNPC research

China's oil consumption is expected to keep growing for a decade on robust chemical demand, reaching a peak of about 780 million tonnes per year by 2030, a research institute affiliated with China National Petroleum Corp said.

Japan to Auction Oil From National Reserves

Japan's industry ministry said it will auction more than 600,000 barrels, of crude oil from its national reserve as a part of a U.S.-led coordinated release of oil reserve to cool rising prices.

US to Dominate Midstream Project Starts in North America Through 2025, GlobalData Forecasts

The United States is likely to start the operations of 169 midstream oil and gas projects from 2021 to 2025, accounting for about 69% of the total upcoming midstream project starts in North America by 2025.

Norway's Aker BP in $14 Billion Deal to Buy Lundin Energy's Oil and Gas

Norway's Aker BP will buy the oil and gas business of Sweden's Lundin Energy, forming the second-largest listed petroleum firm on the Norwegian continental shelf.

Gazprom Expects Dividend on 2021 Results at More Than 45 Roubles/Share

Russian energy giant Gazprom expects to pay dividend on 2021 results of more than 45 roubles ($0.6087) per share thanks to high oil and gas prices.

BP to Buy Out US Pipeline Partnership in $723 Million Deal

BP will acquire the remaining stake in its U.S. pipelines partnership BP Midstream Partners LP that it doesn't already own in a more than $700 million deal.

United States Grand Jury Accuses Amplify Energy of Negligence in Oil Spill

A federal grand jury has accused Amplify Energy and two of its subsidiaries of illegally and negligently discharging oil during a pipeline break in California in October.

Enbridge Removes Michigan's Oil Pipeline Lawsuit to Federal Court

Enbridge Inc. removed to U.S. federal court a lawsuit filed by Michigan's attorney general against its Line 5 oil pipeline, the latest in a long-running dispute between the Canadian company and the Midwestern state.

Israel's Environment Ministry Blocks Oil Pipeline Deal With UAE

Israel's Environmental Protection Ministry blocked a deal with partners from the United Arab Emirates to transport oil from the Gulf to Europe via an Israeli port city.

About Half of US Oil Pipeline Space is Empty After Boom Time Building Spree

About half of U.S. oil pipeline space is sitting unused, heating up competition for barrels in higher-output areas like the Permian Basin in Texas.

Key Ecuador Crude Oil Pipeline Ruptures While Halted by Erosion

The collapse in the pipeline's tubing did not cause any environmental damage given it was empty following its suspension, the ministry said.

Ecuador Declares Force Majeure for Oil Exports, Output Due to Erosion

Ecuador's government declared force majeure over its oil exports and production contracts after ongoing erosion in its Amazon region forced a halt to pumping on two pipelines.

Plains All-American Hoping to Replace Ruptured Oil Pipeline in California

Plains All American Pipeline is applying for a replacement pipeline project in California, showing the state still has potential to host fossil fuel infrastructure even as it takes significant measures to curb climate change.

Permian Oil Output Forecast to Hit Record High in January -EIA

Output from the Permian is closely watched by the global oil market because it has pipeline access to export hubs in Houston.

Nigeria's State Oil Firm Posts $346 Million Trading Surplus in June

NNPC's report said in June 47 pipeline points were vandalized compared to 64 in May, with the Port Harcourt area and Mosimi accounting for 94% of the vandalism.

Belarus Oil Firm Cancels 2022 Druzhba Pipeline Exports to Germany After EU Sanctions

Belarusian oil company Belorusneft has cancelled its 2022 export plans to Germany via the Druzhba pipeline following new European Union sanctions on the company.

Canadian Oil Output to Peak 7 Years Sooner Than Previously Forecast

Oil output in Canada, the world's fourth-largest producer, will climb over the next decade and peak at 5.8 million barrels per day in 2032.

23rd World Petroleum Congress Program Ends on a High Note

The 23rd World Petroleum Congress program concluded strongly, with high-level discussions on collaboration within the industry and the changes needed going forward.

Med-Red Begins Shipments Through EAPC Pipeline Network

Med-Red Land Bridge Company signed its first contract for a vessel to use the recently recommissioned 150-mile (242-km) pipeline owned by Europe Asia Pipeline Company.

More Transnational Oil Capacity Could Reduce Rail Shipments

The Enbridge Line 3 replacement pipeline, which delivers crude oil from Edmonton, Alberta, Canada, to Superior, Wisconsin, became fully operational on Oct. 1, increasing the pipeline’s capacity to 760,000 bpd. Before the replacement, Enbridge Line 3 had a capacity of about half that amount.

Oil Prices Edge Lower as Investors Try to Assess Omicron's Full Impact

Oil prices edged lower on Wednesday, reversing gains from earlier the week, as investors tried to assess the full impact of the Omicron coronavirus variant on global fuel demand and the effectiveness of existing vaccines.

Global Oil CEOs Stress Continuing Need for Fossil Fuels at World Petroleum Congress

More than 5,000 participants from over 70 countries have gathered to attend the World Petroleum Congress this week, where top executives from energy companies are affirming the need for more oil for decades to come.

Enbridge Raises Dividend, Plans Share Buybacks as Profit Set to Rise

Enbridge Inc. on Tuesday raised its dividend and announced plans to buy back shares, as the Canadian pipeline operator forecast higher core earnings in 2022 on rising demand for oil and gas.

Southern California Oil Spill: Unfortunate Harbinger for Future Industry Distrust

Repercussions from an offshore oil spill along part of the Southern California coast in the fall, even though overestimated fivefold, could be long-lasting and significant for the oil and natural gas industry in climate change-driven California.

Looking Back at the Top 10 Midstream Stories of 2021

While not as volatile as the previous 12 months, 2021 brought its share of anxiety as we in the energy industry – midstream in particular – worked to recover from the fallout caused by the COVID-19 virus. There were also victories along the way.

Energy Transfer Completes Acquisition of Enable Midstream

Energy Transfer now owns and operates more than 114,000 miles of pipelines and related assets in all of the major U.S. producing regions and markets across 41 states.

Canada's Trans Mountain Oil Pipeline Restarted on Sunday

Canada's Trans Mountain pipeline restarted operations on Sunday, weeks after shutting down during a record-breaking rainstorm in British Columbia that washed out road and railways.

Halliburton Says It's Not Buying Exxon Stake in Iraqi Oilfield

Halliburton has not proposed buying Exxon Mobil's stake in Iraq's West Qurna 1 oilfield, a spokesperson for the U.S. oil services company said on Wednesday, denying comments from a senior official from Iraq's Basra Oil Co.