Oil
EIA Reports U.S. Oil Output Slides Again in July
U.S. crude oil output fell 276,000 barrels per day (bpd) in July to 11.81 million bpd, its third monthly decline from its record high in April at 12.12 million bpd, according to a U.S. Energy Information Administration monthly report released on Monday.
Occidental Completes Mozambique LNG Sale, Other Key Divestments
Occidental Petroleum Corporation (Oxy) has announced completion of the sale of Anadarko's 26.5% stake in Mozambique's liquefied natural gas project to French major Total for $3.9 billion, the company said on Monday, along with the completion of other key divestment objectives following the recent close of its acquisition of Anadarko Petroleum in August.
Canada Regulator Stops Enbridge Mainline Contract Plan
The Canada Energy Regulator on Friday stopped Enbridge Inc from auctioning the right to send crude oil through its Mainline pipeline system due to the “perception of abuse of Enbridge’s market power.”
IEA May Cut Its Oil Demand Growth Estimates if Global Economy Weakens
The International Energy Agency (IEA) may cut its growth estimates for global oil demand for 2019 and 2020, should the global economy weaken further, its chief said on Friday.
Canadian Company Ships Solid Oil Sands Bitumen to Chinese Refinery
A Canadian company has loaded a test cargo of solid bitumen onto a vessel destined for a refinery in China, the latest effort by the energy industry to avoid congested export pipelines and find new ways to export more oil sands crude.
Kazakhstan, Russia Agree to Contaminated Oil Compensation — Kazakh Minister
Kazakhstan and Russia have agreed on compensation of $15 per barrel for the contamination of Kazakh crude shipped through the pipelines of Russia's Transneft, Kazakh Energy Minister Kanat Bozumbayev told Reuters on Thursday.
Medallion Launches Open Season for Midland Basin Crude Expansion
Medallion Pipeline Company announced a binding open season to solicit long-term, firm shipper commitments for an expansion of its crude oil pipeline system in the Midland Basin.
Saudi Arabia to Restore Full Oil Output by Next Week - Source
Saudi Arabia has restored more than 75% of crude output lost after attacks on its facilities and will return to full volumes by early next week, a source briefed on the latest developments told Reuters on Monday.
Overseas Buyers of Texas Crude Want Pure Oil
Decades ago, a distiller in Scotland discovered the marketing power of “single malt” whisky, untouched by blending - a technique now being embraced by sellers of Texas crude oil.
Brazil's Petrobras Confronts New Foe: Fuel Thieves
Brazilian state-run oil firm Petrobras has in the last five years battled an epic corruption probe, a crippling recession and unsteady crude prices. Now, Brazil's most important company is facing yet another challenge: Thieves are robbing millions of dollars worth of its fuel to sell on a thriving black market.
Storm Disrupts U.S. Energy Operations from Pipelines to Terminals
Energy infrastructure on the U.S. Gulf Coast was hit hard by Tropical Storm Imelda on Thursday, as flooding forced a major refinery to cut production and a key oil pipeline, terminals and a ship channel in Texas were shut down.
Niger Seeks to Step Up Oil Production with Pipeline to Coast
Niger has started construction on an oil pipeline that will link it to the coast through West African neighbor Benin, a project that Niger's president said will bolster the country's economic development.
Alberta Sees Progress on Crude-by-Rail Talks to Ease Oil Curtailments
he premier of Canada's main oil-producing province Alberta said on Wednesday he is hopeful of more progress this month on talks between his government and producers about easing oil curtailments, as long as extra output is shipped by rail.
State Court Rejects Challenge to Line 3 Pipeline
The Minnesota Supreme Court declined to take up challenges by tribal and conservation groups and ruled that the Minnesota Public Utilities Commission can move forward with an environmental review of Enbridge Energy’s proposal to replace its aging Line 3 crude oil pipeline.
U.S. Oil Exports Ramp Up as Buyers Seek Alternatives to Saudi Crude
The oil markets were in turmoil on Monday after the weekend's attack on Saudi facilities, as refiners in top consumer Asia looked for alternative supplies, U.S. crude producers ramped up efforts to export crude and Saudi Arabia tried to secure refined products.
Saudi Attacks Raise Spectre of $100/barrel Oil: Analyst View
The oil market will rally by $5-10 per barrel when it opens on Monday and may spike to as high as $100 per barrel if Saudi Arabia fails to quickly resume oil supply lost after attacks over the weekend, traders and analysts said.
Total Seeks Buyer for Tainted Russian Piped Oil
France's Total has issued a tender to sell 1.3 million barrels of contaminated Russian Urals crude oil for loading from Rotterdam port, according to three trading sources.
U.S. Oil Production Still Near Record High, but Growth Slowed
U.S. crude production remained close to a record level in June but growth has slowed significantly since the end of last year in response to lower oil prices and the slowdown is set to extend into 2020
Blue Mountain Launches Open Season for Gathering Systems
Blue Mountain Midstream announced its Wildcat subsidiaries launched an open season for new crude oil and water gathering systems and services in central Oklahoma.
Jobs Fall as Shale Boom Cools
U.S. oil and gas employment has started to fall as producers and service companies respond to the sharp decline in prices since the fourth quarter of 2018.
Kinder Morgan Closer to 3rd Permian Pipeline
Kinder Morgan is “moving along” with plans for a third major pipeline project from the Permian Basin – the newly named Permian Pass, which would deliver natural gas from West Texas to the Sabine area of the East Texas-Louisiana Gulf Coast, CEO Steven Kean said.
Plains All American to Remove Steel Tariff Surcharge on Cactus II
Plains All American Pipeline filed with U.S. regulators to remove a proposed surcharge on its Cactus II oil pipeline, tacked on as a result of the Trump administration’s tariff on imported steel.
New Pipelines Open Permian Tap as Demand Outlook Grows Cloudy
After scrambling to catch up with fast-growing Permian Basin crude oil production, pipeline operators appear to be entering a period of excess takeaway capacity with the completion of new and expanded systems this year.
Trafigura's U.S. Crude Exports Account for Over a Quarter of U.S. Total
Commodity trader Trafigura's exports of U.S. crude now account for over a quarter of the country's total since the new Cactus II pipeline started last month, the company's co-head of oil said, making the firm the single biggest exporter.
India, Nepal Open South Asia’s First Cross-Border Oil Pipeline
India and Nepal officially opened South Asia's first cross-border oil pipeline on Tuesday, a project seen as part of New Delhi's efforts to increase its influence in the Himalayan nation where China is also making deep inroads.
China's August Crude Imports Rise Amid Fuel Surplus
China's crude oil imports gained about 3% in August from a month earlier, customs data showed on Sunday, buoyed by a recovery in refining margins despite a persistent surplus of oil products and tepid demand.
Hong Kong Billionaire Offered $9.4 Billion for Canada's Inter Pipeline: Globe and Mail
Canada’s Inter Pipeline Ltd rejected a C$12.4 billion ($9.37 billion) buyout offer from Hong Kong billionaire Li Ka-Shing’s CK Infrastructure Holdings Ltd in July, the Globe and Mail reported late on Thursday, citing sources familiar with the two companies.
Dozens of Enbridge Oil Shippers Divided Over New Proposed Shipping Contracts
More than two dozen oil companies wrote to Canada’s energy regulator on Thursday to support or oppose it intervening in Enbridge Inc’s contentious proposal to overhaul shipping contracts on the Mainline pipeline network.
Corpus Christi Crude Loadings Hit Record as New Texas Pipelines Open
U.S. crude oil loaded onto vessels at Corpus Christi, Texas, last week hit an average 1 million barrels per day (bpd) following the opening of new pipelines from West Texas shale fields, according to consultancy RBN Energy.
NuStar Completes Pipeline Projects, Begins Moving Volume
NuStar Energy has announced that it has completed and is moving volumes on three key pipeline projects that will significantly expand the partnership's capacity to move Permian crude oil to Corpus Christi for export, and to move refined products into Northern Mexico.
- 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
