Oil
World’s No.1 Oil Trader: U.S. To See Final Oil Output Spike In 2018
The best is yet to come for US oil production—but it will be a short-lived hurrah, according to Ian Taylor, head of oil trading giant Vitol. US oil production has steadily increased throughout 2017 as US drillers regained their footing after the oil price crash. What started out at 8.946 million bp..
OPEC Chief Urges U.S. Shale To Curb Oil Output
In an unconventional plea to U.S. shale drillers, OPEC’s Secretary General Mohammad Barkindo urged North American producers on Tuesday to share the responsibility for drawing down the global oil overhang. “Emerging from this most vicious of all oil cycles, the need to sustain the rebalanced market ..
Officials Say Pipeline Boosts Revenue by $6 Million a Month
North Dakota officials say the Dakota Access pipeline construction has increased the state's tax revenues by $6 million per month.
Trump Administration: Court Can't Suspend Pipeline Decision
The Trump administration says a federal court has no right to second guess a presidential permit issued for the Keystone XL pipeline construction project.
Niger Delta State Looks To Break Free From Oil
Bayelsa, a state in the Niger Delta region of Nigeria, will search for non-oil natural resources to diversify away from its main commodity—oil. This is what the state’s new commissioner in the Ministry of Mineral Resources said after taking office. Markson Fefegha added that there are plans in plac..
Trans Mountain Expansion Route Hearings for Burnaby Segment Set
The National Energy Board (NEB) has announced that detailed route hearings for the Burnaby, B.C. segment (Segment 7) of the Trans Mountain Expansion Project will begin in January 2018. This follows a previous announcement for detailed route hearings in segments one and two (of seven) located in Albe..
Rosneft Looks To Boost Crude Oil Exports To China
Russia’s biggest oil producer, state-controlled Rosneft, is aiming to almost double its crude oil exports to China through Kazakhstan, Reuters reported on Friday, citing three industry sources, in what could be yet another sign that the oil ties between Russia and China are growing closer. Rosneft’..
Barclays: Canada’s Oil, Gas Mid-Caps To Benefit From Slower Output Growth
Canadian mid-cap oil and gas drillers could actually benefit from the slower production growth because it would boost capital efficiency and lower risks, according to research by Barclays. Canada’s exploration and production (E&P) companies do not usually promise high growth in output, unlike U.S. ..
Iraq to Restore Pipeline to Turkey, Bypassing Kurdish Region
BAGHDAD (AP) – Iraq’s Oil Ministry has ordered the restoration of an oil pipeline from the city of Kirkuk to Turkey that would bypass the country’s northern Kurdish region in the wake of the area’s pro-independence referendum. Tuesday’s development is the second measure that Baghdad has taken ove..
The Permian Boom Is Coming To An End
The pipeline construction project boom in the Permian may soon slow down
Gulf Of Mexico Output Falls Nearly 100% After Hurricane Nate
As of Sunday, 92.61 percent of crude oil production capacity in the Gulf of Mexico was shut in, the Bureau of Safety and Environmental Enforcement said. In barrels, this amounted to 1.62 million per day, with 298 platforms and 14 rigs evacuated, representing 40.43 percent and 70 percent of platforms..
Jury Convicts Activist Who Targeted North Dakota Pipeline
A North Dakota jury convicts Dakota Access pipeline construction project protester.
Dakota Access Review to Take Until April
Environmental review of the Dakota Access pipeline construction project to last until April 2018.
Federal Judge Reinstates Obama-Era Rule on Methane Emissions
WASHINGTON (AP) — Rebuffing the Trump administration, a federal judge on Wednesday ordered the Interior Department to reinstate an Obama-era regulation aimed at restricting harmful methane emissions from oil and gas production on federal lands. The order by a judge in San Francisco came as the Inte..
End of Cross-Canada Pipeline Plan Could be Felt in Maine
The cancellation of the Energy East pipeline construction project could have major ramifications in Maine.
Record U.S. Oil Exports Weigh On Oil Prices
West Texas Intermediate briefly slumped below US$50 after a brief rally, as EIA data about U.S. crude oil exports showed these had hit a record-high of 1.98 million bpd. This is the highest weekly average since exports were once again allowed, after a four-decade ban. Last week’s figure also beat th..
Iran, Iraq, And Turkey Unite To Block Kurdish Oil Exports
Iraq, Iran, and Turkey are taking a unified stance against Kurdistan’s oil sector after the region elected to seek independence from Baghdad in a referendum in September, according to a new report by Rudaw. “In the case of northern Iraq, Iran, Iraq and Turkey will form a tripartite mechanism and wi..
TransCanada Says It's Cancelling Energy East Pipeline
TransCanada announces it is cancelling the Energy East pipeline construction project.
Nigeria’s "Zero Oil Plan"
I recently reported on the development of economic diversification plans among countries in the Gulf Cooperation Council (GCC) as oil demand prepares to reach a climax in 30 years. Nigeria, among other African producers, has begun to adopt the same policy, according to new goals announced by Abuja t..
API: BLM Proposal Offers Opportunity to Fix Venting and Flaring Rule
API today announced it welcomes the Department of the Interior’s (DOI) proposal to delay certain requirements of the Bureau of Land Management’s (BLM) venting and flaring rule while the agency reviews its cost-benefit analysis and makes revisions to the 2016 rule. “Natural gas and oil operators acr..
Survey Shows Spike In OPEC’s September Oil Production
September figures show that OPEC’s oil production rose in September with Saudi Arabia, Kuwait, and Libya all increased production according to a new Bloomberg survey. Total production from the cartel reached 32.83 million barrels per day, which marks a 120,000 bpd increase from August, the Bloomber..
Drone Companies Team up to Service North Dakota Oil Patch
Drones help make pipeline inspections in North Dakota easier.
Canada’s Watchdog: Kinder Morgan Complied With Stop Order
Kinder Morgan has complied with a request to halt work on the Trans Mountain Expansion Project.
Canada’s Prolific Montney Shale Drives Pipeline Expansion
Pipeline construction project gets a boost from Canada's Montney Shale.
Colorado Regulators: Tiny Holes, Faulty Parts to Blame for Failed Inspections
Colorado regulators say tiny holes or faulty parts were to blame for numerous failed oil and gas pipeline inspections.
Colorado Says 430 Pipelines Failed Leak Test
Colorado regulators say about 430 oil and gas pipelines failed inspection.
North Dakota Gov. Thankful for Protest Payment
North Dakota's Governor says he is grateful that Energy Transfer Partners paid $15 million Dakota Access pipeline construction project protests.
Pipeline Developer Gives North Dakota $15M for Protests
Energy Transfer Partners gives North Dakota $15 million to help pay for protests associated with the Dakota Access pipeline construction project.
The Driving Forces Behind Today’s Oil Markets
The oil market is arguably the most fickle market in the world… One day it might set new records for bullishness, the next we might see it plummet into bear-territory. A flurry of global news also makes it difficult to interpret the impact of each development on prices and market sentiment. Needle..
Pembina to Expand Phase V Project
Pembina Pipeline Corporation today announced that in order to accommodate incremental volume commitments from customers, the company is adding additional infrastructure and increasing operational flexibilities to its previously announced Phase V pipeline expansion, which includes a 20-inch pipeline ..
- 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
