Oil

Stored Crude, Condensate Could be Shipped from Shuttered Libyan Ports

Exports of crude oil and condensate could restart soon from a few Libyan ports as authorities seek to draw down its storage and ease an electricity supply shortage.

China Ramps up U.S. Oil Purchases Ahead of Trade Deal Review — Sources

Shipments of U.S. crude oil into China are expected to rise in the coming weeks as the two countries begin to review a trade agreement signed in January.

ConocoPhillips Gets U.S. Green Light for Alaska Oil Project

The U.S. Bureau of Land Management approved ConocoPhillips' plan for drilling in Alaska's National Petroleum Reserve, including roads and pipelines to access the North Slope site.

Red Butte Pipe Line Announces Open Season

Red Butte Pipe Line, a subsidiary of Silver Creek Midstream, has announced an open season on a crude oil pipeline system in Wyoming.

Quality Issues Add Delays to Venezuela's Crude Exports — Documents

The worsening quality of crude oil exports from Venezuela is causing further delays in loading times at the state-run oil company PDVSA's main terminal according to internal company documents.

Canada Now Biggest Source of US Imports

Canada is the largest source of U.S. energy imports and the second-largest destination for U.S. energy exports behind only Mexico. Energy is an important component of trade between Canada and the United States.

Supreme Court Reinstates Permit 12, Excludes Keystone XL

The U.S. Supreme Court reinstated the Army Corps of Engineers’ (Corps) use of Nationwide Permit 12 but refused to let TC Energy resume construction of its Keystone XL pipeline under the fast-track permit.

Energy Transfer Vows to Keep Dakota Access Oil Flowing

Energy Transfer has vowed to fight a court order to shut down and empty the Dakota Access oil pipeline (DAPL), contending that U.S. District Judge James Boasberg overstepped his authority with the ruling.

Phillips 66 Plans to Shut Facilities, Pipelines Amid Renewables Shift

Phillips 66 has announced plans to close or convert some of its facilities along with the associated pipelines as part of the company's transition to renewable fuels.

Oil Rises After Bigger-Than-Expected Drop in U.S. Inventories

Benchmark prices for oil rose on Tuesday after an industry report showed a larger drawdown of U.S. crude inventories than analysts had expected.

Judge Gives U.S. Three Weeks to Detail Dakota Access Pipeline Options

A federal judge has ordered the U.S. Army Corps of Engineers to provide options for resolving the loss of a permit for the Dakota Access oil pipeline by the end of the month.

San Mateo Midstream Announces Binding Open Season

A subsidiary of San Mateo Midstream has announced a binding open season to gauge interest for a proposed expansion project.

BP Midstream Pipeline Volumes Fall 10% in Q2, Revenues Up

BP Midstream announced that pipeline volumes fell 10% in Q2 due to shrinking demand caused by the coronavirus pandemic while revenues for the company rose over the same period.

U.S. Appeals Court Allows Dakota Access Pipeline to Keep Running

A U.S. appeals court on Wednesday said that the Dakota Access Pipeline does not have to be shut and drained per a lower court order.

Petroperu Resumes Pipeline Operations After Coronavirus-Related Halt

Peru's state-run energy firm Petroperu has restarted pipeline operations after being halted due to concerns over the coronavirus.

MPLX Sees $100 Million Earnings Hit if Bakken Oil Pipelines Shut

MPLX, the midstream branch of energy firm Marathon, announced it could begin losing $100 million a year if closures of two North Dakota pipelines were to take effect.

Shell Midstream Cuts Costs as Demand Destruction Hits U.S. Pipeline Flows

Shell Midstream has announced spending cuts as demand fell across many of its U.S. pipeline operations.

U.S. Crude Output in May Plummets by Record 2 Million Barrels per Day

Data from the U.S. Energy Information Administration shows domestic crude output experienced its sharpest drop in 15 years in May.

Trump Allows Keystone Pipeline to Ship More Canadian Oil After Expansion Stalls

President Donald Trump has issued a presidential permit to allow TC Energy's Keystone oil pipeline to ship nearly 30% more Canadian crude as the company's' proposed expansion of the pipeline has again been stalled by legal hurdles.

TC Energy Profit Dips from Uncontracted Keystone Volumes

TC Energy reported a 6% drop in profits on Thursday partly due to a fall in uncontacted volumes on its Keystone oil pipeline.

Trump Seeks out Loyal Donors in West Texas Oilpatch

President Donald Trump's visit to a U.S. fracking hub on the West Texas plains comes during the state’s fierce coronavirus outbreak and a global oil and gas glut that is putting the squeeze on his loyal donors in the petroleum industry.

Enbridge Sees Improving Mainline Oil Volumes

Canadian pipeline operator Enbridge on Wednesday posted a quarterly profit slightly higher than analysts' estimates and said it sees volumes growing across the Mainline, North America's biggest oil pipeline network.

Pipeline Doubts put Bakken Shale Reboot on Hold

North Dakota oil producers face new pressures to delay bringing back more of their recently curbed output after a U.S. court ruling this month put in jeopardy the pipeline that transports most of the region's oil, executives and analysts said.

Once Canada's Oil Relief Valve, Rail Shipping Grinds to Near Halt

Crude-by-rail shipments in Canada, which hit record highs just five months ago, have all but come to a halt as global energy demand has plummeted opening up transport space on much cheaper pipelines.

China's Surging Crude Imports Mask Weakness in the Rest of Asia: Russell

Although China has been importing large amounts of crude oil in recent months, imports into the rest of Asia remain weak.

PipeChina to Take on $56 Billion of Pipelines to Boost Network Access

China is taking major steps to consolidate its midstream oil and gas sector with the newly formed state-owned PipeChina taking on more than $55 billion in assets.

Bounceback in U.S. Shale Output Unlikely to Last the Summer

While the slow reopening of the global economy has raised oil prices encouraging U.S. shale producers to roll back production curtailments, industry analysts don't expect shale production to fully return for quite a while.

EIA Forecasts Year-Long U.S. Petroleum Demand Recovery

The U.S. Energy Information Administration predicts that U.S. petroleum consumption will continue to recover through the end of this year but won't reach pre-pandemic levels until August 2021.

Marketing Firm Sues Occidental for Payment of Crude

A midstream marketing firm is suing Occidental Petroleum alleging the embattled shale producer did not pay for crude deliveries.

Buckeye Partners Begins Operations at South Texas Gateway Export Terminal

Buckeye Partners has begun exporting oil from its new South Texas Gateway terminal in Corpus Christi, TX.