Oil

Some U.S. Gas Stations Still Without Fuel After Colonial Pipeline Reopens

More than half of the gas stations in some areas of the U.S. southeast remained without fuel and prices at the pump were at seven-year highs on Monday, even as the flow on the nation's largest fuel pipeline resumed after a cyberattack resulted in a six-day system outage and mass panic-buying.

Max Midstream Has First Loading of Texas Oil at the Port of Calhoun Terminal

The Calhoun Port Authority and Max Midstream, a Texas-based energy company, announced the first successful loading of Texas oil at the Port of Calhoun Terminal in Point Comfort, Texas, last week.

U.S. Gasoline Shortage Eases, But Pumps Dry in Some Areas

Gasoline shortages that have plagued the U.S. East Coast slowly eased on Sunday, with 1,000 more stations receiving supplies as the country's largest fuel pipeline network recovered from a crippling cyberattack.

Citgo Secures U.S. Government's Maritime Waiver Amid Fuel Crunch

The Biden administration granted oil refiner Citgo Petroleum a maritime shipping waiver allowing it to move fuel between U.S. ports on a foreign flagged vessel, two sources told Reuters on Friday, making it the second company to secure one this week.

Colonial Pipeline Recovering; Paid Almost $5 Million Ransom

After a six-day outage, the top U.S. fuel pipeline on Thursday moved some of the first millions of gallons of motor fuels after a crippling cyberattack led to fuel shortages across East Coast states.

U.S. Denies Dakota Access Oil Pipeline Stay Request

U.S. Court of Appeals for the District of Columbia Circuit on Thursday denied a request from operators of the Dakota Access oil pipeline for a stay, while they seek a Supreme Court review in the company's battle to keep the line open.

U.S. Waives Shipping Restrictions to Ease Fuel Crunch After Pipeline Hack

The U.S. government relaxed a long-standing maritime law protecting domestic shipping commerce to allow an undisclosed company to transport gasoline and diesel to ports in the East Coast after a cyberattack crippled the nation's largest fuel pipeline network.

Pipeline Operator Energy Transfer Mulls Chemicals Acquisition

Energy Transfer is weighing acquisitions in the booming chemicals business, co-founder and executive chairman Kelcy Warren said on Wednesday at a conference in North Dakota, where he also expressed confidence DAPL will continue to operate.

Panicked Drivers in Southeast U.S. Swarm Pumps, Ignore Pleas to Stop Hoarding

Drivers in the U.S. Southeast formed lines on Wednesday to fill up tanks from the dwindling number of retail gas stations with fuel to sell, disregarding government pleas for people not to hoard supplies as the shutdown of the main regional fuel pipeline entered its sixth day.

Occidental Petroleum Says Federal Leasing Ban Would Hurt U.S. Oil Growth

U.S. oil and gas producer Occidental Petroleum Corp said federal drilling permits are moving forward in the Permian Basin shale field following a federal pause this year, but a longer-term ban could hurt U.S. oil output.

Fuel Shortages Worsen on Sixth Day of Top U.S. Fuel Pipeline Outage

Fuel shortages worsened in the southeastern United States on Wednesday, as the shutdown of the largest U.S. fuel pipeline network entered its sixth day and gasoline stations ran out of supply in some cities.

U.S. Energy Secretary: No Need to Hoard Fuel After Pipeline Outage

U.S. Energy Secretary Jennifer Granholm said on Tuesday there are no gasoline shortages in the wake of the Colonial Pipeline shutdown and that consumers should report any instances of price gouging of motor fuel.

U.S. Fuel Supplies Tighten as Pipeline Outage Enters Fifth Day

Supplies of gasoline tightened further in parts of the United States on Tuesday as the shutdown of the nation’s biggest fuel pipeline by hackers entered its fifth day, raising concern about price spikes at the pumps ahead of the summer driving season.

Venezuela Needs $58 Billion to Restore Crude Output to 1998 Levels

PDVSA estimated that $7.65 billion is needed for reviving pipelines, projects for gas injection to oilfields, terminals and refineries that are idled or underperforming due to lack of maintenance.

Energy Transfer Expects $2.4 Billion Boost from Winter Storm

Energy Transfer LP expects to gain roughly $2.4 billion from Winter Storm Uri, which knocked out power and halted the distribution of natural gas in Texas to homes and businesses, company executives said.

Enbridge to Keep Great Lakes Pipeline Running, Defy Looming Michigan Shutdown Order

Canada's Enbridge Inc will continue to operate its Line 5 despite an order from the U.S. state of Michigan to shut down the crude oil pipeline next week, Chief Executive Al Monaco said.

TC Energy Posts C$1 Billion Quarterly Loss on Keystone XL Suspension

Canadian pipeline operator TC Energy on Friday swung to a loss in the first quarter, hit by C$2.2 billion ($1.81 billion) impairment charges related to the suspension of its Keystone XL pipeline project.

EQT Announces $2.9 Billion Acquisition of Alta Resources' Upstream, Midstream Subsidiaries

EQT Corporation announced Thursday it entered into a purchase agreement with Alta Resources Development for EQT to acquire all of the membership interests in Alta's upstream and midstream subsidiaries for about $2.925 billion.

Enhancing Safety with Integrated Rupture Disk Assemblies

For decades, rupture disks have served the oil and gas industry as an effective, passive safety mechanism to protect against overpressure or potentially damaging vacuum conditions.

Brazil's Petrobras Reopens Bidding for Golfinho Oilfields

Brazilian state-run oil company Petrobras has reopened bidding for its Golfinho offshore oilfield cluster following a rise in crude prices over the last several months.

Saudi Aramco Seeks $7.5 Billion Loan for Pipeline Investors

In late 2019, struggling Saudi Aramco (Aramco), the world’s largest oil company, completed the biggest initial public offering of shares to raise $25.6 billion, with additional shares sold, bringing the total raised to a hefty $29.4 billion.

Plains Raises Pipeline Transportation Earnings Forecast as Costs Decline

Plains All American Pipeline LP raised its forecast for 2021 transportation segment earnings, as lower operating costs helped offset a decline in volumes shipped on its pipelines.

EXPLAINER: The Dakota Access Pipeline Faces Possible Closure

A U.S. court could order the Dakota Access Pipeline (DAPL) shut in coming weeks, disrupting deliveries of crude oil, and making nearby rail traffic more congested.

US Federal Land Policy Still Leaves Room for Winning Hands

State energy officials have been laser-focused on the Biden administration’s suspension of new oil and gas leasing on federal lands because it could eventually curtail Bakken production by more than 100,000 bpd.

Enterprise Products Oil Pipeline Volumes Drop Amid Winter Storms

Enterprise Products Partners LP said volumes across its pipelines dropped by 13% in the first quarter as producers and refiners were hit by winter storms, causing damage to facilities and disrupting shipments.

Winter Storms Hit Phillips 66 Partners' Q1 Pipeline Volumes

The amount of oil and gas shipped on Phillips 66 Partners LP pipelines fell about 6% in the first quarter as winter storms disrupted service and the COVID-19 health crisis continued to hamper fuel demand.

BNSF Can Handle More Crude-by-Rail Shipments if Dakota Pipeline is Shut, Railroad Says

BNSF, the railroad unit of Warren Buffett's Berkshire Hathaway Inc, is prepared to handle any increase in rail traffic if the Dakota Access oil pipeline (DAPL) is shut due to an ongoing legal dispute, the company told Reuters.

Forties Oil Work to Drive Drop in June Brent Benchmark Supply

The North Sea Forties crude oil stream will load only two cargoes in June, a copy of the shipment schedule showed, reducing supply of the crude that underpins the global Brent benchmark.

Dakota Access Pipeline Seeking Supreme Court Review in Fight to Keep Line Open

Dakota Access oil pipeline's operators plan to ask the U.S. Supreme Court to intervene in its ongoing legal battle to keep the 570,000 barrel-per-day line open, according to a court filing on Thursday.

Continental Resources Ramping Up Bakken Operations, Adds Rigs to Powder River Basin

Shale oil producer Continental Resources on Thursday said it will ramp up activity in North Dakota's Bakken shale field this year as it shifts more of its production operations to crude oil from natural gas.