Tag Archives: oil

Enbridge Gets Presidential Permit for Line 67 Pipeline

The U.S. Department of State has issued a presidential permit to Enbridge Energy, L.P., authorizing the company to increase transport up to a full design capacity of approximately 890,000 barrels per day of crude oil and other hydrocarbons across a three-mile segment of the Line 67 Pipeline at the U.S.-Canada border near Neche, North Dakota, through an existing Enbridge terminal in Superior, Wisconsin. Enbridge’s Line 67 Pipeline was originally permitted in 2009 and constructed in 2010. This new presidential permit was signed and issued by Acting Assistant Secretary of State for Oceans and International Environmental and […]

Why U.S. Crude Exports Are Booming

In the years leading up to the shale oil boom, crude oil exports from the U.S. were nearly nonexistent. There were two reasons for that. First, following the 1973 OPEC oil embargo, a crude oil export ban had been enacted as part of an energy bill that aimed to mitigate future oil crises. The crude oil export ban restricted crude oil exports from the U.S. to all countries besides Canada. But even if the ban hadn’t been in place, U.S. oil production severely declined for over three decades after 1970, even as U.S. crude oil […]

Canada’s Pipeline Industry Takes Another Hit

Another oil pipeline in Canada bites the dust. TransCanada announced last week that it would scrap its plans to build a 2,800-mile major pipeline that would traverse nearly the entire country, closing off a crucial potential export route for Canada’s oil sands. The $15 billion Energy East pipeline would have carried 1.1 million barrels of oil per day from Alberta to Canada’s eastern coast for refining and export. It faced significant opposition from communities affected along the pipeline’s route, but TransCanada had been confident that it could overcome those hurdles. More recently, however, top Canadian […]

Husky Energy Set To Restart Pipeline

Husky Energy (TSE: HSE) received a greenlight to restart its pipeline after successfully undergoing testing, inspection, and evaluation of a previously ruptured pipeline, according to local media. Last July, Husky’s pipeline leaked about 225,000 liters of heavy oil mixed with a diluent, about 40 percent of which made its way into the North Saskatchewan River. That was 15 months ago, and the pipeline has been idle ever since. The Saskatchewan government gave the go-ahead to restart the pipeline on Wednesday, but the approval doesn’t mean that Husky will not be fined handsomely for the 2016 […]

North Dakota Landowners’ Lawsuit Against Pipeline Dismissed

BISMARCK, N.D. (AP) — A federal judge has dismissed a lawsuit filed by nearly two dozen North Dakota landowners who alleged the developer of the Dakota Access oil pipeline and a consultant used deceit and fraud to acquire private land easements for the project. But a court case in Iowa involving the pipeline and landowners is expected to linger into next year. In North Dakota, U.S. District Judge Daniel Hovland in a ruling dated Tuesday sided with a subsidiary of Texas-based Energy Transfer Partners and Contract Land Staff, a land acquisition consulting business also based […]

Oil Prices Poised To Rise In Early 2018

Oil prices will be lower for longer—that is the conventional wisdom. Data suggests, however, that oil supplies are tightening and that higher prices are likely in the relatively near-future. Refined Product Demand and Crude Oil Exports U.S. crude oil plus products comparative inventories have fallen 120 mmb (million barrels) in 26 of the last 32 weeks (Figure 1). Strong domestic demand for refined products and increased crude oil exports are the main reasons. That translates into lower net imports of both crude oil and petroleum products to the United States. The year-to-date average of U.S. product […]

Enbridge Energy Defends Plan to Replace Line 3 Oil Pipeline

MINNEAPOLIS (AP) — Enbridge Energy disputed a state agency’s recommendation against the company’s proposal for replacing its aging Line 3 oil pipeline across northern Minnesota, insisting in filings Wednesday that the project is needed to ensure adequate crude supplies for Minnesota and other Midwestern refineries for decades to come. The Minnesota Public Utilities Commission is considering whether to grant a certificate of need for the project, which has aroused opposition from environmental and tribal groups because of the potential impacts on climate change and pristine waters where Native Americans harvest wild rice. The state Commerce […]

Oklahoma Crude Oil Line Ruptured by Construction Crew

CUSHING, Okla. (AP) — Oklahoma regulators say environmental crews are cleaning up a crude oil spill near one of the world’s largest oil storage sites. Oklahoma Corporation Commission spokesman Matt Skinner said Wednesday that oil spilled into a dry creek bed in Lincoln County, south of the massive oil tank farm in Cushing. Construction workers Tuesday cut a pipeline operated by Centurion Pipeline. A spokesman for Houston-based Centurion, Eric Moses, says the company contained the release. Skinner says it’s unclear how much oil spilled. It happened on farmland 60 miles (96 kilometers) west of Tulsa. […]

Judge Allows Dakota Access Pipeline to Keep Running During Review

BISMARCK, N.D. (AP) — A federal judge ruled Wednesday that the Dakota Access oil pipeline can continue operating while a study is completed to assess its environmental impact on an American Indian tribe. U.S. District Judge James Boasberg’s decision will come as a blow to the Standing Rock Sioux, who have argued that an oil spill from the pipeline under Lake Oahe — from which the tribe draws its water — could have a detrimental effect on the tribal community. The $3.8 billion pipeline built by Energy Transfer Partners has been operating since June 1, […]

World’s No.1 Oil Trader: U.S. To See Final Oil Output Spike In 2018

The best is yet to come for US oil production—but it will be a short-lived hurrah, according to Ian Taylor, head of oil trading giant Vitol. US oil production has steadily increased throughout 2017 as US drillers regained their footing after the oil price crash. What started out at 8.946 million bpd of crude oil production in the first week of January has now reached an average of 9.561 million bpd as of September 29, according to the EIA. The EIA is expecting US oil production to reach 9.8 million bpd in 2018, according to […]

OPEC Chief Urges U.S. Shale To Curb Oil Output

In an unconventional plea to U.S. shale drillers, OPEC’s Secretary General Mohammad Barkindo urged North American producers on Tuesday to share the responsibility for drawing down the global oil overhang. “Emerging from this most vicious of all oil cycles, the need to sustain the rebalanced market in the medium- to long-term, some extra-ordinary measures could be considered by countries participating in ‘the Declaration of Cooperation’, including expanding the membership,” Barkindo said in a speech at the India Energy Forum in New Delhi. “This is a shared responsibility of all producers, be they conventional or non-conventional, […]

Officials Say Pipeline Boosts Revenue by $6 Million a Month

BISMARCK, N.D. (AP) — North Dakota officials say the Dakota Access oil pipeline has boosted the state’s tax revenues by $18 million in its first three months of operation. State Pipeline Authority director Justin Kringstad tells the Bismarck Tribune that producers have seen a $2 increase per barrel in the average price for Bakken crude in June, July and August, compared to figures from 2016. Kringstad attributes the increase to more competitive transportation costs since the pipeline went into service in June. Kringstad’s figures are based on current North Dakota oil production, which increased 3.5 […]

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