Oil
EIA Forecasts Year-Long U.S. Petroleum Demand Recovery
The U.S. Energy Information Administration predicts that U.S. petroleum consumption will continue to recover through the end of this year but won't reach pre-pandemic levels until August 2021.
Marketing Firm Sues Occidental for Payment of Crude
A midstream marketing firm is suing Occidental Petroleum alleging the embattled shale producer did not pay for crude deliveries.
Buckeye Partners Begins Operations at South Texas Gateway Export Terminal
Buckeye Partners has begun exporting oil from its new South Texas Gateway terminal in Corpus Christi, TX.
ChemChina Buys Gazprom Neft's First Arctic Oil Cargo for China — Sources
Gazprom Neft has sold its first ever oil cargo to China to be delivered via Arctic shipping routes to ChemChina according to sources.
OPEC+ Eases Record Oil Cuts as Economy Recovers from Pandemic
OPEC and its allies have agreed to ease production cuts established earlier in the year as the global economy begins to recover from the coronavirus pandemic but fears of a second wave of infections could hamper the market recovery.
Iran's Oil Storage Almost Full as Sanctions, Pandemic Weigh
As U.S. sanctions and the coronavirus pandemic take its toll on Iran, the country has been forced to cut back its oil production due to a decreasing amount of storage.
Nigeria Will Boost Compliance with OPEC+ Cuts — SPA
In a call with Suadi Arabia's oil minister, his Nigerian counterpart confirmed that his country would comply 100% with the agreed-upon OPEC+ production cuts and will compensate for their overproduction in May and June.
Oil Rises as International Energy Agency Boosts Demand Forecast
The International Energy Agency increased its outlook for 2020 fuel demand causing oil prices to rise on Friday but rising coronavirus cases in the U.S. tempered expectations for a quick recovery.
U.S. Judge Rejects Latest Dakota Access Effort to Avoid Pipeline Shutdown
A federal court judge has rejected the latest request from Dakota Access to stay a shutdown order issued for the 570,000-bpd oil pipeline, allowing the company to appeal to a higher court.
Zhejiang Wins China's First Private Fuel Export License — Sources
Zhejiang Petroleum & Chemical Co has been granted a license to export fuel from the country to the international market, a first for a private oil company in the country.
Dakota Access Seeks Stay of Pipeline Shutdown Order Pending Appeal
Dakota Access has asked a federal court to stay its previous order to shut down and empty the pipeline within 30 days while an appeal of the decision is decided.
U.S. Crude, Natural Gas Demand to Fall in 2020, Oil Decline Less than Forecast — EIA
New data released from the U.S. Energy Information Association forecasts a decline in domestic oil and natural gas production for 2020 with the decline in oil production to be less than previously forecast.
Judge Denies Dakota Access Initial Motion to Stay Pipeline Shutdown Order
A federal judge has denied a request from owners of the Dakota Access pipeline to stay a shutdown order passed down on Monday requiring the pipeline to be shut and emptied within 30 days.
End of an Era? Series of Setbacks Bode ill for Big Pipeline Projects
A rapid-fire succession of setbacks for big energy pipelines in the United States this week has revealed an uncomfortable truth for the oil and gas industry: environmental activists and landowners opposed to projects have become good at blocking them in court.
China Hires Morgan Stanley, Goldman Sachs to Advise on Pipeline Asset Transfers — Sources
China has hired Morgan Stanley and Goldman Sachs to advise the country's top energy firms on multi-billion dollar deals transferring oil and natural gas pipeline assets to a new national energy infrastructure company.
Rangeland Midstream Canada Brings Marten Hills Pipeline System into Service
The Marten Hills Pipeline System from Rangeland Midstream Canada has entered service.
Dakota Access Pipeline Shutdown May Revive Oil-by-Rail Industry
The court-ordered shutdown of the Dakota Access pipeline on Monday may provide a much-needed boost to the oil-by-rail industry.
Supreme Court Reinstates Permit 12 but Excludes Keystone XL
The U.S. Supreme Court reinstated use of the Army Corps of Engineers' Nationwide Permit 12 but refused to allow use of the fast-track permit to resume work on TC Energy's Keystone XL project.
Energy Transfer Vows to Keep Dakota Access Oil Flowing
Energy Transfer vowed to fight a court order to shut down and empty the Dakota Access oil pipeline, contending that U.S. District Judge James Boasberg overstepped his authority with the Monday ruling.
BP Closes Part of Alaska Sale to Hilcorp; Pipeline Under Review
BP announced it has closed part of its planned $5.6 billion sale of Alaskan assets and operations to Hilcorp, but its stake in Trans Alaska Pipeline is still under regulatory review.
Energy Transfer Moves to Prevent Cancellations on Dakota Access Expansion — Sources
Energy Transfer has reportedly invoked force majeure in order to prevent oil companies from canceling contracts to ship crude oil on the company's proposed expansion of the controversial Dakota Access pipeline, according to two sources familiar with the matter.
Traders Thought Apple Had 'the Holy Grail' of Oil Data, but the Quest Continues
As more and more of the world is run on data, oil traders have been increasingly looking for any source that can provide real-time data on fuel demand.
Michigan Judge Allows Restart of Enbridge Line 5 Pipeline
A Michigan judge ruled that Enbridge can resume pumping oil through its Line 5 pipeline, nearly a week after shutting it down because of damage to a structure that anchors a section of the line.
UAE’s BPGIC to Expand Storage Facilities
The United Arab Emirates’ Brooge Petroleum and Gas Investment Co (BPGIC) said on Wednesday that it was moving ahead with its oil storage expansion plans as there has been a limited impact from the coronavirus pandemic on the company's operations.
Alaska Officials Approve BP's Sale of Pipeline, Oil Leases to Hilcorp
Alaskan energy officials on Monday approved the sale of BP's pipeline and oil and gas assets to Hilcorp Energy as part of a previously announced multi-billion dollar deal.
Chesapeake Asks to Cancel Pipeline Contracts Amid Bankruptcy Filing
Chesapeake Energy is looking to cancel more than $300 million worth of pipeline contracts as part of its Chapter 11 bankruptcy proceedings.
Chesapeake Energy Bankruptcy Delivers Hit to Reeling Pipeline, Service Firms
A bankruptcy filing by Chesapeake Energy will deliver a hard blow to pipeline and service companies already struggling from the collapse in energy demand brought on by the coronavirus pandemic.
Sasol to Sell Stakes in Mozambique Pipeline, Power Plant — Sources
According to two sources, Sasol is looking to sell its stakes in a Mozambique pipeline as well as a power plant in the country.
Oil Pricing Agencies Platts, Argus Launch New U.S. Crude Benchmarks
The top two oil pricing agencies announced on Thursday they will start new pricing benchmarks reflecting the price of Gulf Coast crude on oil tankers loaded on tankers for export.
Easton Energy Adds Crude, NGL Storage Rights at Texas Facility
U.S. pipeline and storage operator Easton Energy is planning to expand its natural gas liquids and olefins storage at existing salt caverns along the Texas Gulf Coast and add crude storage capability.
- 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
