Oil
Saudi Arabia Says no Talks with Moscow on New Oil Deal
Saudia Arabia said it is not in talks with Russia to develop a new deal on oil production to stabilize erratic oil prices driven by uncertainty from the coronavirus pandemic.
Pipeline Shares Sink on Oil Decline, Coronavirus Impact
It’s a common refrain among investors that “a rising tide lifts all boats,” meaning the share prices of similar companies tend to act in unison. Unfortunately, that’s equally true of falling tides, as demonstrated by the performance of North American midstream equities in recent weeks.
Trump Says He Will Enter Saudi-Russia Oil Fray at Appropriate Time
President Trump has said he will get involved in the oil price war between Russia and Saudi Arabia at the 'appropriate time.'
Texas Producers, Regulator Ask State, President for Curtailments as Prices Collapse
Texas oil producers are asking for production curtailments in the state to help stabilize plummeting oil prices.
Coronavirus, Oil Price War Put Canada's Crude Sector 'On Life Support'
Canada's already struggling oil industry is now 'on life support' facing a plunge in oil prices as the global coronavirus pandemic sparked a price war with Saudia Arabia and Russia.
U.S. to Buy 30 Million Barrels of Oil to Help Fill Strategic Reserve
President Trump has directed the U.S. Department of Energy to begin purchasing crude oil to fill the country's Strategic Petroleum Reserve.
Global Oil Storage May Hit Capacity Within Months — Analysts
Industry analysts are predicting oil storage availability around the globe may reach capacity within months.
U.S. Oil and Gas Industry Sees no Supply Chain Threat from Coronavirus — API
The American Petroleum Institute says the U.S. oil and gas supply chain should not be majorly impacted by the coronavirus pandemic.
Tallgrass Energy Announces Open Season on Pony Express Pipeline Expansion
Tallgrass Energy has announced that due to continued interest in its Carpenter Expansion it is launching a supplemental open season to solicit binding shipper commitments for crude oil transportation from a new origin near Carpenter, Wyo., to Pony Express destinations in Colorado.
Marathon Petroleum Explores $15 billion MPLX Asset Sale — Sources
Marathon Petroleum Co, the largest U.S. independent refiner, is exploring the sale of assets of its pipeline subsidiary MPLX LP worth as much as $15 billion, people familiar with the matter said on Wednesday.
Gibson Sanctions Million-Barrel Expansion at Hardisty Terminal
Calgary-based Gibson Energy Inc. said it has approved the construction of one million barrels of new tankage at its Hardisty Terminal.
Russian Production Increase Limited by Export Constraints: Traders
Russia’s ability to quickly lift oil production following the collapse of a global agreement to cut is restrained by bottlenecks in exporting capacity, market sources said and Reuters calculations showed on Tuesday.
Oil Plunges Over 20% on Saudi Arabia, OPEC Deal Collapse
Oil futures suffered their biggest daily loss since 1991 on Sunday after Saudi Arabia slashed its official selling price (OSP) and announced plans to raise crude production significantly, signaling the start of a price war.
Oil Slides as Demand Worries Overshadow OPEC Deal to Deepen Supply Cuts
Oil prices fell on Thursday as the coronavirus epidemic showed no signs of slowing, feeding worries about the global economy and prompting investors to sell more risky assets like stocks and crude oil and park money in safe havens.
Poland Ready to Supply Belarus with Oil if Pipeline Upgraded
Poland is ready to supply Belarus with oil, but first needs to invest in its pipelines to enable reverse flows, Poland's minister responsible for energy infrastructure said on Wednesday.
U.S. Crude Oil Production Grew 11% in 2019 — EIA
Annual U.S. crude oil production reached another record level at 12.23 million barrels per day (b/d) in 2019, 1.24 million b/d, or 11%, more than 2018 levels.
Energy Transfer Announces Supplemental Open Season for Bayou Bridge Pipeline System
Energy Transfer subsidiary, Bayou Bridge Pipeline has launched a Supplemental Open Season to solicit additional shipper commitments for transportation service from Nederland, Texas to Lake Charles, Louisiana through the Bayou Bridge Pipeline System.
Trafigura, Phillips 66 Form JV for Deepwater Texas Oil Port
Global commodities trader Trafigura said on Friday it had formed a joint venture with U.S. refiner Phillips 66 to build a major deepwater port in Texas capable of handling supertankers, ditching its own competing project.
EPIC Announces Completion of Crude Oil Pipeline
EPIC Crude Holdings has announced the successful commissioning of its 30” permanent crude oil pipeline.
Williams Seeks to Raise $5 Billion by Selling Stake in Pipelines - Sources
Williams Companies is seeking a partner to invest in a network of its pipelines in the western United States, a deal that could raise close to $5 billion for the Tulsa, Oklahoma-based company, people familiar with the matter said.
Belarus Says More Azeri, Russian Oil Supplies Coming Soon
Belarusian state energy company Belneftekhim has signed a contract with Azerbaijan's SOCAR to receive two cargoes of oil totaling 160,000 tonnes, it said on Wednesday.
Phillips 66 Partners Acquires Interest in Liberty Pipeline
Phillips 66 Partners LP has reached agreement with Phillips 66 to acquire its 50% interest in the Liberty Pipeline project for approximately $75 million.
Russia Makes New Proposal to Belarus for Oil Supply Terms
A new proposal from Russia for oil supplies to Belarus offered a sign of potential progress between the two countries, which have failed to agree on terms since major Russian oil companies suspended pipeline deliveries.
Shell Considering Mars Pipeline Expansion
Shell Midstream Partners LP expects to take final investment decisions on expanding its Mars crude oil pipeline system in the Gulf of Mexico in the first half of the year, Chief Executive Kevin Nichols said on Thursday.
North Dakota Regulators Approve Dakota Access Pipeline Expansion
North Dakota regulators on Wednesday unanimously approved expanded capacity for the Dakota Access pipeline, saying they believed the project had met exhaustive state and federal requirements.
BP halts Output at North Sea ETAP Platform
BP halted production at its ETAP platform, which connects seven oil and gas fields in the British North Sea with the Forties Pipeline System and the CATS gas terminal, after a problem with its power generation system.
Mexico's Pemex Signs Contracts for New Oil Projects — CEO
Mexican national oil company Pemex has begun signing contracts with oilfield service firms specifically invited to submit bids for a new batch of projects, the state-owned company’s chief executive said.
Belarus Threatens to Take Oil from Russian Transit Pipeline — Belta
Belarus will start taking oil from the Druzhba transit pipeline if Russia does not supply it with the required volumes of crude, the Belarusian president said on Friday, the state news agency Belta reported.
TC Energy Unsure About Keystone XL Pipeline
TC Energy Corp sees too much uncertainty to commit immediately to the long-delayed Keystone XL oil pipeline project, company executives said on Thursday, even as TC prepared for construction.
Blast Shuts Eni Owned Nigerian Oil Pipeline — Officials
An oil pipeline explosion in Nigeria forced the local subsidiary of Italian oil major Eni to close a pipeline feeding the Brass oil export terminal, ENI and a security official said.
- 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
