Storage

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.

Gas Storage’s Impact on Pipelines

The arrival of natural gas in Europe in the 1960s marked the advent of large regional gas storage solutions designed to meet multiple needs. Today, gas storage systems balance and stabilize flows of gas to meet demand, smooth price fluctuations and help ensure energy security.

Brooge Energy Begins Preconstruction Work on Phase III Oil Storage Facility

Oil storage firm Brooge Energy has begun preconstruction work on Phase III of its storage facility outside the Straight of Hormuz in the United Arab Emirates.

China Crude Storage Flows Accelerate as Last of Cheap Oil Offloads

China pumped more crude oil into storage in September reversing two months of drawdowns as the world's largest oil importer continued to work through massive purchases made earlier this year when prices plunged.

Lower Canada-U.S. Crude Flows Draws Down on Cushing Glut

Weakened crude oil flows from Canada to Cushing, Oklahoma have helped drawdown on a surplus of fuel at a major industry storage hub over the past two weeks, according to industry traders.

Shell Midstream Offers Mars Sour Crude Storage as Offshore Producers Keep Pumping

Shell Midstream is offering to store barrels of Mars Sour crude as offshore producers continue to pump oil amid the coronavirus pandemic.

Regulators Ease Storage Rules, Fees for Texas Producers

Texas oil and gas regulators voted to temporarily relax their rules for underground crude storage and waive related fees and surcharges that producers typically pay.

Moda Midstream Completes 10 Million Barrel Crude Oil Storage Expansion

Moda Midstream has placed its final 495,000-barrel oil storage tank into service at its 10-million-barrel storage facilities in Texas.

Remaining Oil Storage in Cushing, OK is Already Booked — Traders

Oil traders have said the remaining storage space for crude oil in Cushing, Oklahoma, the largest storage site in the U.S., is already completely booked up by producers.

Producers Scramble for Storage Space as Oil Glut Grows

Oil producers are scrambling to find storage space for excess barrels, many being forced to pay storage companies to take oil as prices turned negative on Monday for the first time in history due to an unprecedented slump in demand.

U.S. Crude Stocks Jump by Record 19 Million Barrels: EIA

Crude oil stockpiles in the U.S. rose by 19 million barrels last week, the largest one-week increase in history.

France's CIM's Storage Tanks Brimming on Low Oil Demand

Oil tanks at France's storage and dispatch services company CIM are completely full due to the glut in global oil supply and the sharp drop in products demand, the director general of the company said.

U.S. to Buy 30 Million Barrels of Oil to Help Fill Strategic Reserve

President Trump has directed the U.S. Department of Energy to begin purchasing crude oil to fill the country's Strategic Petroleum Reserve.

Global Oil Storage May Hit Capacity Within Months — Analysts

Industry analysts are predicting oil storage availability around the globe may reach capacity within months.

Traders Race for Storage as Oil Price Plunges

Oil traders are racing to buy up storage as oil prices plummet amid the Saudi/Russian price war.

Gibson Sanctions Million-Barrel Expansion at Hardisty Terminal

Calgary-based Gibson Energy Inc. said it has approved the construction of one million barrels of new tankage at its Hardisty Terminal.

Gibson Sanctions Million-Barrel Expansion at Hardisty Terminal

Calgary-based Gibson Energy approved the construction of 1 million barrels of new tankage at its Hardisty Terminal.

Gibson Sanctions Million-Barrel Expansion at Hardisty Terminal

Calgary-based Gibson Energy Inc. said it has approved the construction of one million barrels of new tankage at its Hardisty Terminal.

Pipeline Operators: Germany's Winter Gas Supplies Secure

Germany will have enough natural gas this winter, despite restrictions on transit routes Opal and TENP 1, as storage levels are close to 100%, pipeline operators' group FNB said on Monday.

Officials Study Fire at California Storage Site after Quake

Officials are trying to determine Wednesday if a 4.5 magnitude earthquake triggered an explosion at an ethanol storage facility in the San Francisco Bay Area that started a fire and kept thousands of people in their homes for hours because of potentially unhealthy air.

New Pipelines, Hurricane Drive WTI Inventories Down, Prices Up

U.S. oil futures rose 1.7% on Thursday, lifted by a deep draw on U.S. crude inventories, especially at the benchmark's delivery hub due to increased demand with the start-up of two new West Texas pipelines.

Energy Department Offering Grants for Pipeline Projects

The Department of Energy will award $24 million in grants for the development of tools, methods and technologies to cost-effectively enhance the safety and efficiency of the nation’s natural gas production, gathering, storage, and transmission infrastructure. Grants will be as much as $3 million but no lower than $1 million.

Canadian Oil Pipeline Congestion Sets up Lucrative Storage Play

As Canadian oil production has outpaced pipeline takeaway capacity, demand for storage in the oil sands province of Alberta has increased.

NW Natural Completes North Mist Expansion Project

NW Natural has completed its North Mist Expansion Project and begun providing no-notice storage to Portland General Electric’s Port Westward plants to balance renewable power on the grid.

New Concho-Frontier JV to Construct Midland Basin Gathering System

Concho Resources and Frontier Midstream Solutions IV have agreed to form a 50-50 joint venture, Beta Crude Connector, LLC (BCC), to build and provide crude oil gathering, transportation and storage services in the Northern Midland Basin.

Storage Tanks Explode at Venezuela Heavy Oil Project

Two storage tanks have exploded at the Petro San Felix heavy-crude upgrading project in eastern Venezuela, according to an oil industry source and a legislator.

Lithuania to Ask Belarus to Switch Nuclear Plant to Gas

Lithuanian Prime Minister Saulius Skvernelis will ask Belarus to convert its Russian-built nuclear power plant to gas provided by Lithuania’s liquefied natural gas (LNG) terminal and a planned gas link between Lithuania and Poland.

Navigator Announces Glass Mountain Expansion, Extended Voyager Open Season

Navigator Energy Services said it will significantly expand its Glass Mountain Pipeline System (GMP) with new segregated crude grades, more storage and transportation capacity, additional origin points and expanded market access at Cushing. It also extended its open season with Magellan Midstream for their proposed 500-mile Voyager Pipeline.

SoCalGas Asks Customers to Reduce Use, Cites Limits on Pipelines

Southern California’s gas utility extended its request for consumers to reduce natural gas use through the weekend, to avoid straining the system as cold weather lingers over the area.

Gas Remains Key to UK Energy

Gas is a key element of the U.K.’s energy mix, but the closure of Centrica’s Rough long-term storage facility last year reduced U.K. gas storage to only 14 days of capacity, compared with 87 in France, 69 in Germany and 59 in Italy.