Oil
Oil Price Structure Sparks Storage Draw Down
Oil’s price structure for Brent and U.S. crude has caused storage to be drawn down, signalling a recovery in global markets and tighter supplies as major producers cut output
API’s May Data Report Shows Signs of Industry Recovery
New data from the American Petroleum Institue (API) during the month of May shows the U.S. energy market may be headed for a swift recovery.
Williams to Handle Gathering, Production for Taggart
Williams announced a tieback agreement with LLOG Exploration Offshore to provide oil and gas gathering and production services for the Taggart development in the Gulf of Mexico.
U.S. Shale Companies to Boost Oil Output by 500,000 Bpd by July
According to industry analysts, U.S. shale producers are expected to restore roughly 500,000 bpd of crude oil production by the end of the month.
Shell Launches Sale of Stakes in Norwegian Fields, Pipelines — Document
According to a sales document seen by Reuters, Royal Dutch Shell is selling its stakes in two Norwegian oil fields and associated pipelines.
24% of U.S. Gulf of Mexico Production Shut After Storm
More than 400,000 bpd of U.S. Gulf of Mexico crude oil production remained shut on Wednesday after Tropical Storm Cristobal, the U.S. Bureau of Safety and Environmental Enforcement said.
COVID-19 Mitigation Results in Lowest US Petroleum Consumption in Decades
U.S. consumption of petroleum products has fallen to its lowest level in decades because of measures that limit travel and the general economic slowdown induced by mitigation efforts for coronavirus (COVID-19).
Enterprise Working to Address U.S. Regulatory Delays on Offshore Crude Terminal
Enterprise Products Partners is working to address additional requests from U.S. officials concerning its major offshore crude terminal project being developed off the country's Gulf Coast.
U.S. Oil for Belarus Reaches Europe as Country Seeks to Reduce Reliance on Russia
The first shipment of U.S. oil bound for Belarus reached Europe late on Friday as the Eastern European country looks to reduce its reliance on neighboring Russia.
Libya's Sharara Oilfield Declares Force Majeure After New Shutdown
Days after Libya's Sharara oilfield had resumed production, armed militants forced production to halt again causing the country's National Oil Corporation (NOC) to declare force majeure.
Oil Climbs After OPEC+ Extends Output Cuts to End-July
Oil prices rose to their highest levels in months early Monday as OPEC+ announced a deal to extend production cuts, but lost steam as some producers said they won't maintain additional reductions.
Libyan Oil Pipeline, Oilfields Reopen After Months of Blockade
Libya has restarted one of its oil pipelines and production at two of its major oil fields after months of blockade due to the ongoing conflict in the country.
Illinois Rejects Bid to Delay Decision on Dakota Access Expansion
Regulators in Illinois have unanimously rejected an attempt by environmental groups to delay the expansion of TC Energy's Dakota Access Pipeline due to the coronavirus.
China Oil Demand Recovery Positive Sign for Industry
China's oil demand has recovered remarkably well in the past few weeks, a move that industry analysts hope will be mirrored as other countries emerge from pandemic lockdowns.
OPEC+ Keen to Slow U.S. Shale Recovery as Oil Prices Rally
As U.S. shale production begins to show signs of recovery, OPEC and its allies are looking to keep prices low in an effort to prevent another market oversupply.
Ecuador Declares Force Majeure After Oil Pipeline Shutdown
Soil erosion which damaged the primary oil pipeline in Ecuador has caused the country to declare force majeure on exploration and production until the pipeline can be repaired.
U.S. Shale Producers Begin Restoring Output as Oil Prices Turn Higher
As oil prices begin to recover, U.S. shale producers are beginning to reverse production cuts made earlier in the year as demand plunged due to the coronavirus pandemic even as other major oil-producing countries consider extending production cuts.
Ecopetrol Extends Subsidies, Increases Pipeline Financing Assistance
Columbia's state-run oil company Ecopetrol announced on Friday that it is extending tariff subsidies and financing programs for oil shippers in South American country to help ease the burden of falling oil prices due to the pandemic.
Oil Surges on U.S.-China Trade Optimism, Falling Crude Output
Oil prices jumped around 5% on Friday as crude oil production continues to fall around the world and President Trump indicated that the U.S.-China trade deal was still on track.
Alberta Cuts Oil Output by 1 Million Barrels Per Day: Minister
The energy minister of Alberta, Canada's oil-producing province, has informed OPEC that the province has cut 1 million barrels per day (bpd) in production since many of the largest oil-producing countries around the world agreed to production cuts.
Enbridge to Raise Rates on Express Crude Pipeline
Enbridge has filed a proposal with the Federal Energy Regulatory Commission (FERC) to raise shipping tariffs on its Express crude oil pipeline by 3%.
India Looks to Store Cheap Oil in United States — Oil Minister
India's oil minister said the country is exploring the possibility of storing some of the excess oil it purchased from the U.S. in American storage facilities.
U.S. Oil Output from Major Shale to Reach Nearly Two-Year Low in June — EIA
New data from the U.S. Energy Information Administration expects oil output from seven major shale operations in the U.S. to fall by nearly 200,000 bpd in June.
Ukraine's Odessa Receives First WTI Oil Cargo from U.S. — Sources
Ukraine's Odessa import facility received its first West Texas Intermediate oil cargo from the U.S. this week after futures prices turned negative last month.
Colombian Government Considers Intervention in Oil Pipeline Tariffs
The Columbian governments is re-examining how tariffs on oil pipelines in the country are calculated as many producers have been hit hard by falling oil prices due to the coronavirus pandemic.
Oryx Launches Binding Open Season on Proposed Expansion of Delaware System
Oryx Midstream has launched a binding open season to gauge interest on a proposed expansion of its Delaware oil pipeline system.
Russia's Transneft, Rosneft Disagree Over Oil Transport Costs
Two of Russia's largest energy companies have failed to reach an agreement on restructuring oil transportation costs amidst the global collapse in oil prices due the coronavirus pandemic.
Phillips 66 to Raise Rates for Gray Oak Crude Pipeline
Phillips 66 is proposing to raise its tariff rates on its Gray Oak, Permian Basin pipeline.
U.S. Pipeline Regulator Strikes Down Washington State's Crude-by-Rail Safety Limits
The U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA) on Monday struck down crude-by-rail transportation restrictions imposed by Washington state, saying the measures would not lower the risk of explosions.
Oklahoma Regulators Take no Action After Oil Output Hearing
Energy regulators in Oklahoma declined to provide a timeline for a decision regarding requests from oil producers in the state to mandate production cuts in an attempt to stabilize to hard-hit industry.
- 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
