Oil
Permian Still Holds 60-70 Billion Barrels Of Recoverable Oil
The lucrative Permian Basin still holds between 60 and 70 billion barrels of unharvested oil, IHS Markit Ltd said this week. The recoverable resources in the basin shared by Texas and New Mexico could supply crude to every U.S. refinery for 12 years straight—that’s a total market value of $3.3 tril..
DOE Seeks To Boost Usage Of Carbon Capture Tech
Secretary of Energy Rick Perry has approached the National Petroleum Council to help find effective applications of carbon capture technology in oil and gas production, Reuters reports, citing a meeting of the 200-member industry body with Perry and Interior Secretary Ryan Zinke. While carbon captu..
US Oil Refinery Runs Out Of Crude As Hurricane Season Rages On
The 185,000-bpd refinery of Monroe Energy in Trainer, Pennsylvania ran out of oil due to shipment delays caused by hurricane activity in the Caribbean, shipping data and a source close to the company, as quoted by Reuters, revealed. The shipment that caused the idling of several units at the facili..
Expect A Major Leap In U.S. Oil Exports
The Gulf Coast was ravaged by Hurricane Harvey, and the effects are going to take time to wear off, but the situation has also made U.S. crude exports much more competitive. Harvey knocked out more than 4 million barrels per day (mb/d) of refining capacity for a few days, but three weeks on from th..
Peru Oil Pipeline Resumes Operation
Petroperu announced the restart of a crude oil pipeline that has been shut for a year for urgent repairs after a series of leaks. The 687-mile piece of infrastructure, which carries crude from Peru’s oilfields in the Amazon to the Pacific Coast, carried a modest 15,000 bpd of crude per day before th..
Report: Canada's Duvernay Shale Contains 3.4 Billion Barrels of Light Oil
The National Energy Board (NEB), together with the Alberta Geological Survey (AGS), today released a new resource assessment for the Duvernay Shale in central Alberta that adds significant quantities of marketable light oil resources in the province as well as natural gas and natural gas liquids (NG..
Canadian Regulators Conduct Trans Mountain Emergency Response Exercise
On September 20, Canada’s National Energy Board (NEB) conducted a full scale emergency response exercise at Kinder Morgan’s Burnaby Terminal, located in Burnaby, British Columbia, and the Incident Command Post in Coquitlam, as a condition for approval of the Trans Mountain Expansion Project. As par..
Taxpayers Likely To Pick Up The Growing Tab For DAPL Protests
North Dakota taxpayers likely to foot the ball for rising costs associated with Dakota Access pipeline construction project protests.
Erdogan Threatens To Cut Off Kurdish Oil Exports
Turkey could cut off the crude oil flow from the northern Iraqi region of Kurdistan, Turkish President Recep Tayyip Erdogan said on Monday, putting further pressure on Kurdistan over what Ankara sees as an illegitimate separatist vote. Turkey—which is vehemently opposing today’s referendum on indep..
North Dakota's Bill Rises for Oil Pipeline Protest Costs
North Dakota's cost for protests of the Dakota Access pipeline construction project continue to rise.
American Midstream Starts Crude Deliveries Into Dakota Access Pipeline
American Midstream begins commercial operations on a North Dakota oil pipeline construction project.
Enbridge Line 3 Pipeline Debate Shifts to Public Hearings
Public hearings concerning Enbridge's Line 3 Replacement Project to begin this week.
Oil Spills From Pipeline After Syria Army Retakes Oil Field From ISIS
Oil spilled from a pipeline at the al-Teym oil field in the oil-rich desert south of Deir al-Zor in Syria after the Syrian Arab Army and its allies had recaptured the oil site from ISIS, video footage uploaded on Friday on YouTube by Berlin-based video news agency Ruptly shows. Earlier this month, ..
U.S. Shale: Water Is the New Oil
Water pipeline construction projects in the Permian Basin on the rise.
OPEC Talks End Without Recommendation On Output Cut Extension
The OPEC/non-OPEC joint panel on monitoring the cuts, which is meeting in Vienna today, has concluded talks without any recommendation for the broader group on whether it will extend the production cuts beyond March next year, one OPEC delegate told Bloomberg at the end of the meeting. The monitori..
Trump Aims For Arctic Oil And Gas
The Trump administration is trying to lay the groundwork to open up the Arctic National Wildlife Refuge (ANWR) for oil and gas drilling, according to a report last week from the Washington Post. It won’t be easy, and it is not guaranteed to work, but the Department of Interior is hoping to crack op..
ExxonMobil Resumes Service on Pipelines Affected by Harvey
ExxonMobil today announced that its Baytown and Beaumont refineries have begun producing fuels at reduced rates and that crude oil and refined product pipelines in the Gulf and other regions of Texas have restarted as recovery continues from Hurricane Harvey. “We are making good progress safely res..
Purchase of California Oil Hub Dropped After State Sues
SAN FRANCISCO (AP) — The Valero Energy petroleum company says it is giving up plans to acquire the last independently owned petroleum terminal in the San Francisco Bay Area. Valero said in a statement Monday that it is dropping its purchase of the Martinez petroleum terminal hub rather than wage a ..
Kuwait Pipeline Construction Project Contract Awarded
The Kuwait Oil Company awards Larsen & Toubro an EPC contract for a crude oil pipeline construction project.
Oil & Gas Officials Confident in Industry’s Bright Future
West Virginia oil and gas officials continue to be optimistic about the industry’s future in West Virginia. Scott Freshwater, president of the Independent Oil and Gas Association of West Virginia, said that even though the price of natural gas in the Appalachian basin is discounted right now becaus..
IEA: Price Spike Coming In 2020
The oil market has been awash in crude for more than three years, and OPEC has struggled to accelerate the rebalancing effort, but the world could be heading for a supply crunch in a few years due to the sharp fall in industry spending. The halving of oil prices from $100 per barrel before 2014 dow..
The Kurdish Referendum Could Reshape Oil Markets
Iraq, the second-largest OPEC producer, may be facing a significant disruption to its oil exports this month. On September 25, citizens of the northern region of Kurdistan, a semi-autonomous area of Iraq, will vote in a referendum for national independence. If the referendum passes, as it is expect..
The World’s Largest Offshore Oil Field Is Back In Action
Without much international fanfare, the world’s largest offshore oil field and the largest discovered in the last 40 years, Kazakhstan’s Kashagan Field, is on the verge of finally moving beyond the manifold impediments that hindered its development. Discovered in 2000, the 13 Bbbl field (38 Bbbl of..
Pipeline Board: Let Campus Experts Analyze Enbridge Line 5
LANSING, Mich. (AP) — An advisory group is recommending that Michigan universities analyze the worst-case scenario of an oil pipeline failure in the Straits of Mackinac. The effort would be led by Michigan Tech University, which would collaborate with experts at other universities. The recommendati..
Does Canada Need More Oil Sands Pipelines?
A new report questions whether Canada needs more to proceed with pipeline construction projects in its oil sands.
Oryx Midstream Plans Oil Pipeline in Delaware Basin
Oryx Midstream Services to build a crude oil pipeline construction project in the Delaware Basin.
BP And Azerbaijan Lock In Caspian Sea Oil Deal
The government of Azerbaijan signed a new production sharing agreement (PSA) with the consortium operating the Azeri-Chirag-Deepwater Gunashli oil field in the Caspian. The new deal gives Baku a much larger stake in the field and establishes Azerbaijan’s economic ties to Europe for decades to come. ..
Successful Pipeline Construction Project Open Season Concludes
MPLX concludes a successful open season for the Wood River-to-Patoka pipeline construction project.
Harvey Sends US Industrial Production Down Most in 8 years
<!-- Add your site or application content here --> WASHINGTON (AP) — U.S. industrial output plunged 0.9 percent in August, the most in eight years, mostly because of Hurricane Harvey’s damage to the oil refining, plastics and chemicals industries. The storm, which slammed into the Gulf Coast i..
Trans Mountain Expansion Fails Pre-Construction Audit
Kinder Morgan needs to do a better job complying with pipeline regulations on the Trans Mountain Expansion Project, Canadian regulators say.
- 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
