Oil

China Hits 26% of Planned 2020 U.S. Energy Imports

China has accelerated imports of crude oil, propane and LNG from the United States since July, but total energy product purchases through October remain far short of targets set out in the Phase 1 trade deal.

Belarus Plans to Raise Pipeline Tariff on Russian Oil by 25%

Belarus has proposed to increase a tariff it charges Russia for oil transit to Europe by a quarter, raising the stakes in oil supply talks complicated by political upheaval in Minsk, three oil industry sources told Reuters on Thursday.

OPEC+ Still Leans Toward Extension Despite Rally

OPEC and allies including Russia are leaning towards delaying next year's planned increase in oil output to support the market during the second wave of COVID-19 and rising Libyan output, despite a rise in prices, sources said.

Oil Rallies Past 8-Month High on U.S. Crude Inventory Drop, Vaccine Hopes

Oil prices climbed to the highest in more than eight months on Wednesday, as data showing a surprise drop in weekly U.S. crude inventories extended a rally driven by hopes that a COVID-19 vaccine will boost fuel demand.

Canadian Oil Output Seen Expanding until 2039

Canadian oil production will expand for nearly two more decades, slowing the country's progress toward achieving Prime Minister Justin Trudeau's goal of net-zero emissions by 2050, the Canada Energy Regulator (CER) forecast.

Enbridge Sues Michigan Over Oil Pipeline Shutdown Order

Enbridge filed a legal challenge to Michigan Gov. Gretchen Whitmer's recent demand that the company shut down its Line 5 oil pipeline that crosses the waterway connecting Lake Huron and Lake Michigan.

Saudi Aramco: Domestic Supplies Unaffected by Missile Attack

Saudi Aramco said on Tuesday its domestic fuel supplies had not been affected by an attack the previous day by Yemen's Houthi group on a petroleum products distribution plant in Jeddah, with operations resuming three hours after the event.

Eni's Brass River Crude Exports Halted after Pipeline Explosions

Eni declared force majeure on exports of Nigerian Brass River crude oil following pipeline explosions in Bayelsa state, a source with direct knowledge of the matter said.

Yemen Rebels Claim attack on Saudi Oil Facility in Jiddah

Yemen's Houthi rebels said they struck a Saudi oil facility in the port city of Jiddah on Monday with a new cruise missile, just hours after the kingdom finished hosting its virtual Group of 20 leaders summit.

Oil Prices Gain on COVID-19 Vaccine News

Oil prices rose 2% on Monday, extending last week's gains, as the latest report of encouraging coronavirus vaccine trials had traders anticipating a recovery in demand.

Oil Prices Rise for Third Straight Week on Vaccine Hopes

Oil prices edged higher on Friday for a third consecutive weekly rise, buoyed by successful COVID-19 vaccine trials, while renewed lockdowns in several countries to limit the spread of the coronavirus capped gains.

Russia's Payments to Belarus for Contaminated Oil Still Unresolved

Russia and Belarus have yet to resolve differences over compensation for contaminated oil supplies last year, with the issue linked to a broader dispute between the ex-Soviet republics, industry sources said.

Oil Prices Pull Back on Concerns about Virus Impact on Demand

Oil prices slipped on Thursday as hopes for a vaccine were overshadowed by a surge in new cases of the coronavirus around the world, which raised concerns about the outlook for crude demand.

TC Energy: Keystone XL Pipeline Fits Biden Agenda

The creation of union jobs and support by Indigenous investors will help convince U.S. President-elect Joe Biden that the Keystone XL pipeline fits into his “Build Back Better” agenda, an executive with TC Energy said.

Explainer: What's Happening With the Keystone XL Project?

TC Energy Corp is continuing to advance its Keystone XL oil pipeline, the $9 billion project that would move oil from the province of Alberta to Nebraska. Here's an overview of the project status.

Canadian Indigenous Group to Invest in Keystone XL Pipeline

Pipeline operator TC Energy said on Tuesday Canadian indigenous group Natural Law Energy will invest up to C$1 billion ($763.77 million) in its long-delayed Keystone XL oil pipeline project.

OPEC+ Leans Toward Extending Production Cuts Past January

OPEC and allies including Russia are leaning towards postponement of a planned January increase to oil output by at least three months to support prices as the COVID-19 pandemic continues its second wave, sources told Reuters on Monday.

Environmental Groups Appeal Illinois Approval of DAPL Expansion

Environmental groups are appealing a decision made last month by Illinois regulators to allow the expansion of the Dakota Access oil pipeline (DAPL), according to documents filed with the state.

Max Midstream Announces Binding Open Season

Max Midstream Texas announced it is launching an open season to solicit shipper commitments for services in the Eagle Ford region on its Seahawk crude oil pipeline.

Projects

Jemena Reveals Plans to Extend Eastern Gas Pipeline  Newcastle and the Central Coast may soon be integrated further into Australia’s East Coast gas grid with leading energy infrastructure company, Jemena, today revealing plans to extend its 495-mile (797-km) Eastern Gas Pipeline (EGP) from Horsley ..

Bakken Restart: Back to Basics with Idle Wells

Abandoned wells have long been a part of the more-than-a-century-old American oil and gas industry, but industry and state regulators have become more thorough in mitigating and remediating these retired well sites.

Michigan Governor Seeks Shutdown of Great Lakes Oil Pipeline

Michigan Gov. Gretchen Whitmer took legal action to shut down the Line 5 pipeline, which carries oil beneath a channel linking two of the Great Lakes.

Minnesota Approves Enbridge Line 3 Pipeline Project

Minnesota regulators approved Enbridge's $2.6 billion Line 3 pipeline replacement project, clearing one of the last remaining hurdles for U.S. construction to begin.

DAPL's Future Uncertain as Biden Presidency Looms

The election of Democrat Joseph Biden could create more headaches for the Dakota Access Pipeline's (DAPL) owners, who are already embroiled in legal battles to keep the main conduit for flowing oil out of North Dakota running.

Energy Transfer Sues North Dakota for Return of Documents

Dakota Access Pipeline developer Energy Transfer is suing for the return of thousands of documents held by North Dakota, saying the disclosure of those records could present a security risk.

Brent touches $45 on Vaccine Hopes and Storage Drawdown

Global oil benchmark Brent rose on Wednesday, briefly touching a more than two-month high above $45 a barrel on hopes of a COVID-19 vaccine and U.S. crude storage drawdowns.

Tanker Traffic to Venezuela Suggests Oil Export Rebound

At least 18 oil tankers are expected to load oil for export from Venezuela in the coming weeks, according to tracking data and internal documents from state-run PDVSA, in a sign the sanctioned OPEC nation's crude exports may rebound this month.

Iran Says it Exports 700,000 bpd of Oil, Later Denies

An Iranian official said Tehran exported up to 700,000 bpd of oil since March, but an Iranian news agency later quoted him as casting doubt on the figure, which had been kept secret as the country fights U.S. sanctions.

Ecuador Crude Output Reduced by Pipeline Ruptures, Budget Cuts

Ecuador expects its crude output to end 2020 "significantly" below initial expectations due to budget cuts at state oil companies and the rupture of two key pipelines earlier this year, Energy Minister Rene Ortiz said.

Oil Demand Likely to Take at Least a Year to Hit 2019 Levels - Gunvor Head

Global demand for oil is running about 5-6 MMbpd below pre-coronavirus crisis levels, and OPEC with its allies is likely to prolong its existing cuts, the head of trading house Gunvor said on Monday.