Oil
Pipeline Operator Magellan Sees US Crude, Fuel Exports Rising
Pipeline operator Magellan Midstream Partners said on Thursday it expects exports of U.S. crude and refined products to grow on increasing global demand for U.S. energy.
Poland Detects Leak in Russia's Druzhba Oil Pipeline
Polish pipeline operator PERN said it had halted pumping through a section of the Druzhba pipeline, which carries oil from Russia to Europe, after detecting a leak in central Poland on Saturday, but it expects flows can be resumed on Tuesday.
Trans Mountain Expansion Project to Start Filling Pipeline This Fall
The Trans Mountain Expansion (TMX) project is expected to call on oil producers to start filling the pipeline as soon as this month, the president of major shipper Canadian Natural Resources Ltd. said on Thursday.
Benin's 1,200-Mile Niger Pipeline Project Unaffected by Sanctions Over Coup
Benin said on Thursday that work on a major oil pipeline linking it with neighboring Niger has not been impacted by sanctions imposed on Niamey by leaders of West Africa's regional bloc over last week's military coup, although it could mean a delay.
Strathcona to Acquire Rival Pipestone Energy, Forming Canada's 5th-Biggest Oil Company
Canadian oil producer Strathcona Resources on Tuesday said it will go public by acquiring smaller rival Pipestone Energy Corp. in an all-stock deal to create a combined business with a market capitalization of $6.49 billion.
US Shale Firm CEO Predicts $80-$100 a Barrel of Oil Through 2024
Oil prices will range between $80 and $100 a barrel this year and next as demand outpaces supply, Scott Sheffield, chief executive officer of top shale firm Pioneer Natural Resources, said on Wednesday, citing output cuts by Saudi Arabia and underinvestment by U.S. producers.
US Pulls Back Offer to Buy 6 Million Barrels of Oil for Emergency Reserve
The Biden administration has pulled an offer to buy 6 million barrels of oil for the Strategic Petroleum Reserve, an Energy Department spokesperson said on Tuesday, as oil prices are expected to keep rising after an output cut from Saudi Arabia.
Criteria to Consider in Selecting Water Transfer Flow Meters
(P&GJ) — The oil and gas industry contains a complex number of flow applications, featuring a myriad of fluids and gases that challenge even the toughest of flow instrumentation. So, choosing the right flow meter for a water transfer application should be straightforward in comparison … right?
SwRI Tapping into Geothermal Energy Possibilities in Texas
(P&GJ) — Electric power generates the second-largest share of greenhouse gas emissions and includes emissions from electricity production used by end use sectors, such as industry. Nearly 80% of electricity in the U.S. comes from burning fossil fuels, mostly coal and natural gas.
Pipeline Companies to Pay $12.5 Million in Penalties After Spills in Montana, North Dakota
Belle Fourche Pipeline Company and Bridger Pipeline LLC that own and operate a network of crude oil pipelines in Montana, North Dakota and Wyoming have together agreed to pay a $12.5 million civil penalty relating to oil spills.
Enbridge Fixing Minnesota Aquifer Breach Related to Oil Pipeline Construction
Enbridge Inc. on Friday said it was working to fix an aquifer breach in rural Minnesota related to the construction of its Line 3 oil pipeline replacement project, which was completed in 2021 and carries Canadian crude to U.S. refineries.
TC Energy to Spin Off Oil Pipeline Business, Focus on Natural Gas
North American pipeline company TC Energy, which has been seeking to sell assets and cut debt, said on Thursday it would spin off its oil pipeline business and focus on transporting natural gas, saying the businesses would be more valuable apart.
EIA: US Crude, Fuel Stockpiles Fall as Imports Drop
Crude inventories fell by 600,000 barrels in the week to July 21 to 456.8 million barrels, the EIA said, much less than analysts' expectations in a Reuters poll for a 2.3-million-barrel drop.
Voyager Midstream Secures Equity Commitment from Pearl Energy Investments
(P&GJ) — Texas-based Voyager Midstream Holdings has secured an initial capital commitment from Pearl Energy Investments to pursue the acquisition and development of crude oil, natural gas, and produced water infrastructure across key North American supply basins.
U.S. Oil M&A Jumps as Private Equity Unloads Shale Assets
U.S. oil and gas deals rebounded in the second quarter as private equity firms shed shale portfolio investments and publicly traded oil firms grabbed smaller rivals.
Canada Releases Framework to Phase Out Inefficient Fossil Fuel Subsidies
Climate policy analysts said the framework was an important step forward but fell short in continuing to allow government support for oil and gas projects that plan to reduce emissions through technologies such as carbon capture and storage (CCS).
Iraq Renews Deal to Supply Lebanon Up to 2 Million Tons of Crude for A Year
Iraq renewed its agreement to provide Lebanon with up to 2 million tons of crude oil for a year, Lebanese energy ministry said in a statement on Friday.
Senate Backs Amendment Banning US Strategic Oil Reserve Sales to China
The U.S. Senate overwhelmingly passed an amendment to an annual defense bill on Thursday that would ban exports to China of oil from the Strategic Petroleum Reserve.
US Looks to Mexico for In-Demand Sour Crude Barrels
The United States is on track in July to take in higher imports of crude oil from Mexico for a second month, as global demand for sour crudes ramps up following production cuts from OPEC+ that have cut off a pivotal source.
Halliburton, Baker Hughes Highlight LNG Market Resilience Amid North America Shale Weakness
Halliburton shares were down in early trading as markets worried about its exposure to North America markets. However, shares of Baker Hughes — a major equipment supplier to LNG developers — were up, thanks to its exposure to LNG markets.
US Looks to Buy Another 6 Million Barrels for Emergency Oil Stockpile This Year
The U.S. Department of Energy on Friday said it was looking to purchase another 6 million barrels of crude oil for the Strategic Petroleum Reserve as it continues to refill the stockpile following last year's record drawdown.
Riyadh, Tokyo to Cooperate on Energy Security, Hydrogen and Ammonia
Saudi Arabia said on Sunday it remains committed to securing oil supplies for Japan and will continue cooperating with Tokyo on clean hydrogen, ammonia, and recycled carbon fuels.
Brent Oil Hovers Above $81 After Supply Disruptions
Global benchmark Brent crude hovered above $81 a barrel on Friday, with bullish sentiment over U.S. demand bolstered by supply disruption in Libya and Nigeria.
German Oil Refinery Wants $448 Million in State Aid for Pipeline Upgrade
German oil refinery PCK Schwedt has applied to the economy ministry for $448.2 million in state aid to help it upgrade the Rostock-Schwedt pipeline, the local authority in Brandenburg said on Tuesday following a meeting at the facility.
TC Energy Urges Canada to Speed Permits for Energy Transition Projects
TC Energy has more than 20,000 kilometers (14,300 miles) of pipeline in western Canada that could be repurposed to carry carbon dioxide for sequestration underground or transport low-emissions hydrogen, CEO Francois Poirier said.
CPC Adopts New Regulations on Tanker Loadings in Its Marine Terminal
Caspian Pipeline Consortium (CPC) said it has adopted new regulations allowing it to reduce the loading speeds of oil tankers in its marine terminal at times of changing weather conditions to minimize air pollution.
Iraq, TotalEnergies Sign $27 Billion Oil, Gas, Renewables Deal
The deal includes the Gas Growth Integrated Project (GGIP), which aims to improve the country's electricity supply by recovering flared gas at three oilfields and using the gas to supply power plants, helping to reduce Iraq's import bill.
Brent Crude Steady as Supply Cuts Offset Economic Fears
Brent crude oil prices were little changed on Wednesday as supply cuts announced this week by top crude exporters Saudi Arabia and Russia countered concern over the global economy.
Italy's Eni Wants to Reduce Oil Exposure with Asset Sales
Italy's Eni aims to reduce its exposure to oil in favor of natural gas and non-fossil fuels in part through asset sales, the energy group's CEO Claudio Descalzi said on Tuesday.
Trans Mountain Pipeline Expansion Likely to Send More Canadian Oil to US, Not Asia
The Trans Mountain pipeline expansion (TMX) was meant to unlock Asian markets for Canadian oil, but analysts and traders said those barrels now will probably land on the U.S. West Coast as Asia gobbles up Russian oil that is cheaper due to sanctions from Western countries after Moscow's invasion of Ukraine.
- FERC Approves TC Energy's 1,377-Mile West Coast Pipeline Expansion
- Kinder Morgan to Buy NextEra’s 462-Mile Texas Pipeline System for $1.8 Billion
- Williams' Gas Pipeline in Idaho Ruptures, Company Challenges Explosion Allegations
- Biden Awards $7 Billion in Hydrogen Hub Money to 16 States
- Mountain Valley Pipeline Sues Protesters Hindering $7.2 Billion Construction Project
- 416-Mile Coastal GasLink Pipeline Project 98% Complete
- UAE's ADNOC Awards $17 Billion of Contracts for Gas Project, Including Subsea Pipelines
- HVO: Fuel for the Future
- Analysis: Canada May Struggle to Recoup $26 Billion Cost of Trans Mountain Pipeline
- Biden Awards $7 Billion in Hydrogen Hub Money to 16 States
