Oil
Suncor CEO Sees Increased Political Risk for Keystone XL
Canada's second-largest oil producer, Suncor Energy, believes the political situation in the United States has increased the risks to companies counting on construction of TC Energy Corp's proposed Keystone XL oil pipeline, its chief executive said on Wednesday.
Clean-Up of Polish Section of Druzbha Pipeline Could Take a Year
The operator of the Polish section of the Druzbha oil pipeline said on Tuesday that it could take up to a year to completely clean its part of the network.
Asia's Imports of U.S. Crude Hit Record, but Pullback Likely: Russell
Columnist Clyde Russell says Asia’s record crude oil imports from the United States in August may be as good as it gets for some time - and not only because of the escalating trade war between Washington and Beijing.
Ruptured Nigerian Pipeline Spilled Oil: NNPC
A pipeline that ruptured on Friday in Nigeria's Delta state spilled oil, but has been contained, the head of state oil company NNPC said.
Saudi Aramco Sells First Crude From Permian Pipelines
Aramco Trading Company (ATC) sold its first-ever cargo of U.S. West Texas Light (WTL) crude, with a South Korean refiner the buyer, as the Saudi Aramco unit expands its U.S. oil dealings to boost trade volumes, four people familiar with the matter said.
Canada's Energy Regulator Responds to Concerns Over Enbridge Pipeline Plan
Canada's energy regulator on Tuesday responded to shipper complaints about Enbridge Inc's plan to switch to fixed contracts on its Mainline pipeline network by announcing a fast-track process to gather comment on the proposal that could lead to its being delayed.
BP to Quit Alaska After 60 Years With $5.6 Billion Sale of Assets
British oil major BP on Tuesday agreed to sell all its Alaskan properties for $5.6 billion to privately held Hilcorp Energy Co, exiting a region where it operated for 60 years.
New Permian Pipeline Startup Splits WTI Midland Market: Traders
WTI Midland crude prices at Plains All American Pipeline LP’s Midland terminal spiked this month compared with barrels traded at Enterprise Products Partners LP’s Midland terminal as Plains’ Cactus II pipeline began service, oil traders familiar with the matter said.
Canada's Largest Oil Producer Joins Opposition to Enbridge Pipeline Plan
Canadian Natural Resources Ltd, the country's biggest oil producer, has joined a number of other firms asking Canada's energy regulator to intervene in Enbridge Inc's plan to overhaul shipping contracts on its Mainline pipeline network.
Shell, Suncor Energy Ask Canadian Regulator to Review Contentious Enbridge Pipeline Plan
Two major oil companies have asked Canada's energy regulator to urgently review Enbridge Inc's proposal to switch to fixed contracts on its Mainline pipeline system, arguing the changes would be an abuse of Enbridge's market power.
Plains All American to Remove Steel Tariff Surcharge on Cactus II
Plains All American Pipeline filed with U.S. regulators on Monday 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.
Gulf Coast Crude Prices Slide After Threat of Chinese Tariffs
China’s threat on Friday to slap a 5% tariff on U.S. oil imports could further soften demand for physical crude at hubs along the U.S. Gulf Coast, where exporters already have taken to shipping crude overseas without firm buyers, traders said.
H2O Midstream Acquires Sabalo Energy Produced Water Assets, Closes 15-Year Service Agreement
H2O Midstream has announced the acquisition of produced water infrastructure from Sabalo Energy, concurrent with the execution of a 15-year acreage dedication to provide produced water gathering, disposal and recycling services to Sabalo.
Bakken Oil Flows Hit 6-Month High as Rail to East Coast Drops
Crude pipeline flows from North Dakota's Bakken shale field have climbed to the highest in six months after the June closure of the largest U.S. East Coast refinery cut crude-by-rail volumes, according to traders and market intelligence firm Genscape.
New Permian Pipelines May be Hurting U.S. Crude Exports
Two long-awaited pipelines out of the busiest U.S. shale patch started shipping oil to Gulf Coast export hubs last week - just as U.S. crude barrels suddenly do not look all that attractive to buyers around the world.
Lotus Midstream Considers Reversing West Texas to Cushing Pipeline
Pipeline operator Lotus Midstream LLC may reverse flows on a line now sending crude from West Texas to Cushing, Oklahoma, the main hub for pricing U.S. crude futures, three people familiar with the matter said on Tuesday, an unusual move that could lift U.S. benchmark prices by draining supplies.
Sources: Majors Stuck with Tainted Russian Crude While Compensation Talks Continue
BP and Glencore are struggling to sell around 600,000 tons of tainted Russian oil more than three months after the contamination was discovered, according to six trading sources.
Canada's Alberta Extends Oil Curtailments Through 2020 Due to Slow Pipeline Progress
The government of Canada’s main oil-producing province, Alberta, said on Tuesday it was extending mandatory curtailments on crude production by an extra year through 2020, because of uncertainty about when expanded pipelines may come online.
Pembina to Acquire Kinder Morgan Canada, Cochin for $3.3 Billion
Calgary-based Pembina Pipeline has agreed to acquire Kinder Morgan Canada and the U.S. portion of the Cochin Pipeline system in a $3.3 billion deal that expands its Canadian storage capacity in a period of high demand.
Pipeline Shippers Challenge Plains' Steel Tariff Surcharge
Two U.S. shale producers have challenged an energy pipeline operator's proposed surcharge for the Trump administration's 25% tariff on imported steel, raising the stakes for pipeline builders facing higher construction costs.
China's CNPC Suspends Venezuelan Oil Loading Due to U.S. Sanctions: Sources
China National Petroleum Corp, a leading buyer of Venezuelan oil, has halted August loadings following the latest U.S. sanctions on the South American exporter, three sources with direct knowledge of the matter told Reuters on Monday.
ICE, Magellan to Offer Dock Capacity to Houston Oil Futures Customers
Intercontinental Exchange and Magellan Midstream said this week they would auction dock capacity at Magellan's terminals in Galena Park and Seabrook, Texas, for holders of ICE's Permian West Texas Intermediate (WTI) crude futures contracts.
Bid for Inter Pipeline Highlights Strength of Canada's Midstream Sector
A recent unsolicited bid for Inter Pipeline Ltd has highlighted the potential of Canada’s midstream companies to offer insulation from volatile oil prices.
EPIC Midstream Ships First Crude on New Permian-Gulf Coast Pipeline
EPIC Midstream Holdings Inc on Thursday began shipping crude oil on its 400,000 barrel per day (bpd) pipeline from the Permian Basin to the U.S. Gulf Coast, pushing Midland crude prices higher, traders said.
NuStar Energy Receives First Shipment of Permian Crude Oil From Cactus II Pipeline
NuStar Energy has announced that it has received its first shipment of Permian crude at its Corpus Christi North Beach Terminal, and that the terminal will load the first cargo of the long-haul Permian crude onto a ship for export this weekend.
Anadarko Midstream Group Gets New Oxy Leadership After Buyout, Could Hint at Future Sale
Less than a week after Anadarko’s shareholders overwhelmingly approved its acquisition by Occidental Petroleum (Oxy), the new owners have replaced executive leadership at Western Midstream (WES), a business that is viewed as a prime target for sale by Oxy as it seeks to reduce debt from the buyout.
Mid-East Group, Russia Split on Caspian Resources, Pipeline
Five countries bordering the energy-rich Caspian Sea met Monday at an economic forum hosted by Turkmenistan in a bid to agree on how to divide the region's oil wealth.
BP Considers Shipping Non-Diluent Products on U.S.-Canada Pipeline
BP Midstream Partners is considering shipping other products besides diluent on its 135,000 barrel per day Diamondback pipeline, which helps transport diluent from the United States to Canada, Chief Executive Rip Zinsmeister said on Thursday.
EIA: U.S. Gas, Shale Oil Output to Hit Record in September
U.S. oil output from seven major shale formations is expected to rise by 85,000 bpd in September, to a record 8.77 MMbpd, the U.S. Energy Information Administration forecast in its monthly drilling productivity report on Monday.
Trafigura Begins Shipping Permian Crude via Plains' Cactus II
Trafigura Trading today said it has commenced shipments of crude oil from the Permian Basin to the Corpus Christi, Texas, via the Cactus II Pipeline, marking the first confirmed shipments on Plains All American's newly operational system.
- 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
