Oil

U.S. Energy Secretary Doesn’t See Oil Production Returning Soon to Pre-Pandemic Levels

The U.S. Secretary of Energy told reporters at an industry conference on Wednesday that he does not expect the country's oil output to return to pre-pandemic levels until at least after 2021.

Enterprise Crude Pipeline Transport Volumes Drop Over 26% on Oil Price Plunge

Enterprise Products reported on Wednesday that crude volumes on its pipelines fell 26.1% as lower fuel demand caused by the coronavirus pandemic forced producers to slash output.

Canada's Cenovus to Buy Husky for $2.9 Billion

Canada's Cenovus Energy has agreed to purchase Husky Energy for nearly $3 billion as the industry is forced to consolidate amid the pandemic continues to suppress demand.

Canada's Alberta to End Monthly Oil Production Curbs in December

The Canadian province of Alberta will lift curbs on crude oil production at the start of December, allowing producers to use pipeline capacities and create jobs, the region's energy minister Sonya Savage said on Friday.

Belarus Resumes Pipeline Transit of Russian Oil to Poland

Belarus resumed transit of Russian oil to Poland, after pipeline operator PERN said it had to temporarily suspend flows due to local power-supply issues.

API Fact-Checks Presidential Debate Energy Positions

Responding with a fact-check of the presidential debate, API called for bipartisan solutions that do not force a false choice between protecting the environment and growing the U.S. economy.

Biden Calls for ‘Transition’ from Oil; GOP Sees Opening

Democrat Joe Biden’s remark that he would “transition” away from oil in the U.S. in favor of renewable energy drew quick attention Thursday night from President Donald Trump, who saw it as a boon to his election chances in key states.

Brooge Energy Begins Preconstruction Work on Phase III Oil Storage Facility

Oil storage firm Brooge Energy has begun preconstruction work on Phase III of its storage facility outside the Straight of Hormuz in the United Arab Emirates.

China Crude Storage Flows Accelerate as Last of Cheap Oil Offloads

China pumped more crude oil into storage in September reversing two months of drawdowns as the world's largest oil importer continued to work through massive purchases made earlier this year when prices plunged.

Oil Steadies After OPEC+ Meeting as U.S. Stimulus Hopes Face Libyan Supply Boost

Oil prices held steady on Monday hampered by concerns of a resurgence of the coronavirus pandemic and by increasing production in Libya but buoyed by hopes of as U.S. stimulus package.

Islamic State Tells Supporters to Target Westerners, Oil Pipelines

An Islamic State spokesman called on the militant group's supporters to target westerners, oil pipelines and economic infrastructure in Saudi Arabia.

ConocoPhillips to Buy Concho Resources for $9.7 Billion

ConocoPhillips on Monday agreed to buy U.S. shale oil producer Concho Resources Inc for $9.7 billion, as the energy sector continued to consolidate amid lower fuel prices and demand.

Oil Dips on COVID-19 Resurgence, Fears of More Supply

A surge in COVID-19 cases across Europe and the U.S. in the past few weeks is causing concern throughout the industry of a continued drag on demand, evidenced by a dip in oil prices on Friday.

OPEC Says Group Will Ensure Oil Prices do not Plunge Again

The Secretary General of OPEC told an energy conference that the group and its allies will ensure oil prices do not drop off again as they did earlier this year in response to collapsing demand.

Oryx Launches Binding Open Season on Proposed New Gathering System

Oryx Midstream has launched a binding open season to solicit shipper interest in a proposed new gathering system to transport crude from Eddy County, New Mexico to an interconnect with the Trans Permian Pipeline System.

Russian Oil Companies Settle Dirty Oil Dispute with Total

Two major Russian oil companies have settled a dispute with French major Total over contaminated oil supplies delivered on the Druzhba pipeline last year.

U.S. Energy Companies Begin Restoring Oil and Gas Output After Hurricane

Several U.S. oil and gas companies began the process of restarting production at facilities along the country's Gulf Coast on Sunday, two days after Hurricane Delta hammered the area with 100 mph winds.

Shrinking U.S. Oil Stocks Point to Market Rebalancing

Excess petroleum inventories are being absorbed as lower prices compel U.S. shale producers and the members of OPEC+ to limit their output, confirming the market is on course to rebalance in 2021.

U.S. Oil-Export Projects Stall as Output Slips, Opposition Builds

Several major deepwater oil export projects have stalled as the coronavirus pandemic has caused global energy demand to collapse and environmental opposition has increased.

OPEC Predicts Oil Demand to Plateau in Late 2030s

In a major shift in outlook, the OPEC group on Thursday predicted that global demand for oil will plateau in the late 2030s and could have even begun to decline by then.

Centurion Pipeline Announces In-Service Date for Augustus Pipeline

Centurion Pipeline has announced that its Augusts Pipeline is expected to commence service on December 1, 2020.

Navigator Looks to Expand Borger Express Pipeline System

Navigator Energy Services has launched a binding open season on its Borger Express Pipeline to engage interest in expanding the system with 200 miles of new pipeline.

Libyan Oil Production Rises to 290,000 Bpd — Source

Libya's oil production has risen to about 290,000 barrels per day as exports begin to resume from the embattled country.

Frontier Aspen Announces Binding Open Season

Frontier Aspen has announced a binding open season on a proposed expansion of its Wyoming-Utah oil pipeline.

Noble Energy Shareholders Approve $4.2 Billion Sale to Chevron

Shareholders of Noble Energy approved the company's $4.2 billion sale to Chevron on Friday making Chevon the second-largest shale producer in the U.S.

Colonial Pipeline Completes Acquisition of Refined Product Terminals

Colonial Pipeline Company has completed the acquisition of three refined product terminals from Lincoln Terminal Company.

Trump Issues Permit for Alaska to Alberta Oil Railway

President Trump has issued a presidential permit for a proposed railway project that would transport crude oil from Canadian oil sands in Alberta to export facilities in Alaska.

U.S. Pipeline Companies Hit by Weak Demand Offer Enticements to Keep Shippers

U.S. pipeline companies hit hard by the drop in global demand for oil due to the coronavirus pandemic are offering new shipping terms to producers to keep using their pipelines.

Indigenous Activists Occupy Petroperu Pipeline Facilities Over Healthcare Demands

A pipeline owned by Peruvian oil company Petroperu has been occupied by indigenous protests demanding better healthcare from the government, the company said on Tuesday.

Azerbaijan's SOCAR Says Oil and Gas Infrastructure is Safe

State-owned Azeri energy firm SOCAR said on Tuesday that the country's oil and gas infrastructure was safe from the current military conflict taking place in the Nagorno-Karabakh region.