Oil

Oando Restores Crude Pipeline Operations in Nigeria After Multiple Spills

Nigerian oil firm Oando has completed repairs on its Bayelsa state pipeline after four sabotage-related oil spills. The company shut down affected wells and plans future upgrades to reduce risk.

MPLX Acquires Whiptail Midstream’s San Juan Basin Assets for $237 Million

MPLX has acquired Whiptail Midstream’s San Juan Basin gathering systems for $237 million, expanding its oil, gas, and water infrastructure footprint in the Gallup oil play.

U.S. House Bill Seeks $1.5 Billion to Refill Strategic Petroleum Reserve

A U.S. House budget bill proposes over $1.5 billion to replenish and maintain the Strategic Petroleum Reserve and cancels a planned oil sale, aiming to rebuild the emergency crude stockpile.

China’s April Crude Imports Rise 7.5% on Iran, Russia Supply Surge

China imported 11.69 million bpd of crude oil in April, up 7.5% year-over-year, led by strong deliveries from Iran and Russia. Stockpiling during refinery maintenance and discounted sanctioned barrels supported the increase.

U.S. Oilfield Giants Brace for Tough Times as Price Slide Rattles Producers

Top U.S. oilfield firms SLB, Halliburton, and Baker Hughes brace for a downturn as falling oil prices force producers to cut drilling budgets and scale back activity, particularly in North America.

Mexico's Pemex Reports Leaks on Oil Pipeline Supplying Dos Bocas Terminal

Pemex reported and addressed leaks on an oil pipeline transporting crude from its Akal-C platform to the Dos Bocas terminal in Tabasco, Mexico, with cleanup underway and operations set to resume.

Global Energy Exports Slide as Trade Risks Weigh on Oil and Fuel Demand

Global oil, LNG and fuel exports slowed in early 2025 as rising trade tensions and tariffs disrupt flows, pressuring demand across major import markets and raising risks for energy exporters.

Tidewater Midstream to Acquire Segment of Pembina's Western Pipeline System

Tidewater Midstream is acquiring a segment of Pembina Pipeline's 234-mile Western pipeline system in British Columbia, Tidewater announced on May 6. The deal secures long-term access to crude for the Prince George Refinery and is expected to close by September.

Nigeria’s Renaissance Halts Oil Production After Pipeline Spill

Nigeria’s Renaissance Africa Energy has halted oil production after a spill on the Okordia-Rumuekpe pipeline, with initial reports citing possible vandalism in the oil-rich Niger Delta.

Saudi Arabia Can Control Oil Supply, But Demand May Be Its Achilles’ Heel

Saudi Arabia is flexing its oil supply control, but weakening global demand could undermine its strategy and pose challenges.

Sunoco to Acquire Parkland in $9 Billion Deal as Americas Fuel Market Consolidates

Sunoco will acquire Parkland Corporation in a $9.1 billion cash and equity deal, expanding its North American fuel network and maintaining Canadian operations, the companies announced.

Enbridge Line 5 Tunnel Permit Decision Expected This Fall

Enbridge’s Line 5 tunnel project is advancing toward a key milestone, with the U.S. Army Corps of Engineers targeting a fall decision on the project’s permit following a public comment period set for late May.

Venezuela Oil Exports Drop 20% as Chevron Cargoes Canceled Over Sanctions Dispute

Venezuela's oil exports dropped 20% in April after state-run PDVSA canceled Chevron cargoes over sanctions-related payment issues, leaving ports idle and shipments returning.

ONEOK Profit Slips on Higher Costs Despite Gains From Pipeline Acquisitions

ONEOK reported a slight dip in first-quarter profit due to higher costs, but core pipeline and NGL segments saw gains from recent acquisitions, including EnLink and Medallion.

Tankers Bottleneck at Aging Venezuela Oil Port Before U.S. Export Deadline

Oil tankers are queuing at Venezuela’s deteriorating La Salina port ahead of the U.S. license expiry on May 27, triggering delays as PDVSA pushes new crude exports.

LNG Surges, Oil Stalls: Trump's Energy Agenda Faces Headwinds from Trade Turmoil

Just 100 days into President Donald Trump's second term, oil prices have slumped over 20% to below many U.S. producers' breakeven costs as investors lose confidence amid tariff and policy uncertainty - undercutting Trump's push for U.S. energy dominance.

Gulf of Mexico Looking ‘Economically Viable’ in Coming Years

Since the beginning of 2025, with the advent of a second Trump administration, think tanks and energy consultants alike have been busy contemplating what a return to a “drill, baby drill” philosophy will mean to the U.S. and global energy space.

Congress Renews Efforts to Improve Pipeline Safety Law

The Trump administration appears to be more interested in energizing the federal pipeline safety regulator than the Biden administration ever was.

Scotland's Grangemouth Oil Refinery Ends Crude Processing, Begins Layoffs

Grangemouth, Scotland's only oil refinery, has ceased crude processing as Petroineos transitions the site into an import terminal, triggering job cuts and marking the end of an era for the aging facility.

Oil Price Slump Sparks Fears Over Big Oil Dividends, Buybacks

When Exxon Mobil and Chevron report first-quarter results this week, investors will be focused on how falling oil prices have increased the risk to dividends and share repurchases for the rest of 2025.

Syrian President, Iraqi Delegation Discuss Restoring Oil Pipeline

Syrian President Ahmed al-Sharaa and an Iraqi delegation met in Damascus to discuss restoring an oil pipeline through Syria to Mediterranean ports, aiming to boost trade and address regional energy needs amid ongoing economic challenges.

Kenya Puts Breaks on Sale of State Pipeline Company

The sale of KPC was approved in 2023, under the country’s privatization program targeting at least 11 state-owned enterprises due to what the government said was “inadequate capital for investments and working capital due to dwindling government resources to invest in those entities.”

Alberta, Ottawa Pin Hopes on U.S. Ties to Revive Pipeline Projects

Canada ramps up efforts to expand its natural gas pipeline network amid rising domestic demand and growing export opportunities to the U.S., with major projects like Yellowhead Mainline and renewed interest in cross-border infrastructure.

Judge Faults Army Corps Over Pipeline Protests, Awards North Dakota $28 Million

A federal judge awarded North Dakota nearly $28 million from the U.S. government to cover costs tied to the Dakota Access pipeline protests, citing federal negligence during the 2016-2017 demonstrations.

Newsom Seeks to Aid Struggling Refiners Following Valero’s California Exit

California Governor Gavin Newsom has called for closer cooperation with oil refiners to secure reliable fuel supplies amid refinery shutdowns and rising pump prices, citing long-term planning needs during the state’s energy transition.

Falling Oil Prices, Limited Shale Acreage to Threaten 2025 Dealmaking, Report Says

Analysts forecast a challenging 2025 for U.S. oil and gas M&A, as weak oil prices and limited shale acreage constrain dealmaking. Despite a strong Q1, they see high asset prices clashing with buyer caution.

FERC’s Willie Phillips Exits Early, Opening Door for Trump to Shift Commission Balance

Democratic FERC Commissioner Willie Phillips steps down early, reportedly after a request from the Trump administration, creating an opportunity for Republicans to gain a majority on the powerful energy regulatory body.

Phillips 66 Challenges Elliott Over Citgo Conflict in Boardroom Battle

Phillips 66 is accusing activist investor Elliott of a conflict of interest tied to Citgo as a shareholder battle over board seats and the company’s future strategy escalates.

Environmental Groups Brace for Legal Fight Over Trump’s Energy Rollbacks

Environmental groups are ramping up legal teams in anticipation of challenging President Trump’s sweeping energy deregulation orders, which bypass public input and aim to sunset federal rules.

Black Sea Gas Ramps Up as Turkey Targets Regional Oil, Gas Partnerships

Turkey's Sakarya gas field has reached 9.5 million cubic meters per day, fueling Ankara’s regional energy ambitions. The country is pursuing exploration partnerships in Bulgaria, Somalia, Iraq, and the Caspian Sea as part of efforts to cut imports and boost supply security.