Oil

EIG-Led Consortium Closes $12.4 Billion Aramco Pipelines Deal

U.S.-based EIG Global Energy Partners said on Friday a consortium it led has closed a deal to buy 49% of Saudi oil producer Aramco's pipelines business for $12.4 billion.

Pony Express Pipeline Announces Open Season for Transportation

Tallgrass Pony Express Pipeline announced a binding open season soliciting shipper commitments for crude oil transportation utilizing expansion capacity from Pony Express’ Guernsey origin to Sterling, Colo.

Federal Judge Orders Biden Admin to Lift Oil Lease Ban

A federal judge in Louisiana ordered an end to the pause after Louisiana and 12 other states that support drilling on federal lands sued, arguing the suspension was against the law and would cause economic damage and kill jobs.

Brace for Huge Oil Volatility, U.S. Trading Group Says

Oil prices are likely to be extremely volatile in the next few years, driven by supply constraints rather than demand as financing for new production evaporates in favor of renewables, U.S.-based Castleton Commodities International said.

Key Win for Enbridge Oil Pipeline as Minnesota Court Affirms Regulator Approval

The Minnesota Court of Appeals on Monday affirmed a state regulator's decision that there is sufficient need for Enbridge Inc to replace its Line 3 pipeline, handing the Canadian company a crucial victory in its lengthy battle with environmental opponents.

Shell Weighs Blockbuster Sale of Texas Shale Assets

Royal Dutch Shell is reviewing its holdings in the largest U.S. oil field for a potential sale, people familiar with the matter told Reuters, marking a key moment in its shift away from fossil fuels as it faces growing pressure to slash carbon emissions.

National Poll Finds Strong Support for Oil and Gas Pipelines

By a margin of more than 3-to-1, Americans believe pipelines are the best option to transport oil and gas compared to the alternatives of truck and train, both of which present additional risk and produce higher levels of carbon emissions.

Oil on Track for Two-Year High in Volatile Trade

Oil prices edged up to their highest in over two years in volatile trade on Thursday, on optimism for strong economic demand after new U.S. unemployment claims fell to their lowest since the country's first wave of COVID-19 last year.

TC Energy Terminates Keystone XL Pipeline Project

Energy infrastructure company TC Energy said on Wednesday it had terminated the $9 billion Keystone XL pipeline project, months after U.S. President Joe Biden revoked a key permit in a blow to Canada's oil sector.

Oil Falls on Weak Summer Kickoff for U.S. Fuel Demand

The poor weather up and down the U.S. East Coast may have reduced consumption, following a period of gasoline hoarding that artificially boosted demand during the Colonial Pipeline outage last month from a ransomware attack.

Transneft Halting Oil Supplies to Poland Due to Pipeline Maintenance

Russian oil pipeline monopoly Transneft said on Wednesday it will halt oil shipments to Poland via the Druzhba pipeline for four days to carry out maintenance work, the Interfax news agency reported.

Libya Oil Pipeline Leaks Hitting Output, NOC Chief Says

The head of Libya's National Oil Corp (NOC) reiterated on Wednesday the need for funds for much needed repairs in the oil industry after corroded pipelines recently hit production.

Abu Dhabi's Mubadala Joins EIG-Led Consortium Buying Aramco Pipeline Stake

Abu Dhabi state investor Mubadala said on Tuesday it has joined a consortium led by U.S.-based EIG Global Energy Partners that had agreed to buy a 49% equity stake in Aramco Oil Pipelines Co.

Protesters Clash with Police at Enbridge Pipeline Construction Site in Minnesota

Environmental protesters clashed with police after occupying a pump station as they rallied against Enbridge Inc's Line 3 pipeline in Minnesota, while Enbridge said it had evacuated 44 workers from its site.

Pew Research Poll Shows Majority of U.S. Opposes Phasing Out Fossil Fuels

The Pew Research Center released a new poll which found that nearly two-thirds of the U.S. public opposes phasing out fossil fuels as a means of addressing climate change.

Ecuador's Lasso Names Former State Oil Executive as Energy Minister

Bermeo oversaw Petroamazonas' restoration of crude output following the bursting of two pipelines in April of 2020. The company, which focused on crude production, later merged with Petroecuador, which had focused on oil transport and refining.

U.S. Crude Stocks Fall, Fuel Stocks Rise After Colonial Pipeline Restoration

U.S. crude stocks fell more than expected last week, while fuel stocks rose in a pre-holiday rebound from drawdowns that occurred during the Colonial Pipeline outage, the Energy Information Administration said on Thursday.

Colombia Oil Industry Ready for New Jobo-Transmetano Gas Pipeline

Since the beginning of the pandemic, apart from the three critical months of March, April and May 2020, the Colombian oil industry best knew how to face this difficult situation in Latin America. The $400 million Jobo-Transmetano, expected to go into service in December 2024, is the biggest evidence of this.

Savannah Energy in Talks to Buy Exxon's Chad, Cameroon Stakes

Africa-focused Savannah Energy and Exxon Mobil Corp are in exclusive talks over the sale of Exxon's interest in energy assets in Chad and Cameroon. The British oil and gas producer is proposing to buy a 40% operated interest in the Doba oil project in Chad, and a 40% interest in the Chad-Cameroon oil transportation pipeline.

Canada's Inter Pipeline Seals $7 Billion Sector Sale to Pembina After Blocking Brookfield

Pembina Pipeline Corp said on Tuesday it would buy rival Inter Pipeline Ltd in an all-stock C$8.3 billion ($6.90 billion) deal to create one of Canada's top oil and gas transportation companies.

Environmentalists Condemn Biden's Backing of Alaska Oil Drilling Project

Climate activists had previously said they were encouraged that upon taking office in January, President Joe Biden signed an order to rejoin the Paris Accord and revoked federal permits for the Keystone XL oil pipeline.

U.S. Drivers to Get Hit by Soaring Pump Prices Over Memorial Day Holiday

U.S. motorists will see the highest gasoline prices in seven years when they hit the roads this Memorial Day weekend, the traditional start of the summer driving season, as fuel demand surges alongside coronavirus vaccination rates.

Ecopetrol Operations Impacted by Colombia’s Protests

Colombia’s Ecopetrol has accumulated high levels of inventories in wholesale plants and the pipelines network due to protests that “have resulted in blockades of the country's main roads and isolated incidents against certain of the Ecopetrol Group's infrastructure."

Cabot Oil & Gas, Cimarex to Create $17 Billion Firm in 'Surprise' Merger

Cabot Oil & Gas Corp and Cimarex Energy Co agreed a merger on Monday to form a U.S.-wide oil and gas firm with an enterprise value of some $17 billion, a deal analysts termed surprising in a sector recently focused on "pure-play" models.

U.S. Energy Development Completes Midstream Infrastructure Project in Eagle Ford Shale

U.S. Energy Development Corporation announced the completion of a $607,000 pipeline project involving the LLM South B, LLM South C, LLM North A, Sola Vaca Norte A (SVNA), Hideaway Ranch A and Hideaway Ranch E midstream infrastructure development projects in the Eagle Ford Shale.

Value of Kenya’s Lamu Port Remains an Open Question

In its early ambition, the Lamu port figured as connecting the landlocked East African economies to global trade routes. More specifically, it was envisioned as an alternative outlet for South Sudan’s oil, which is currently pumped via the Greater Nile Oil Pipeline to Port Sudan.

Medallion Pipeline Launches Open Season for Capacity on EPIC Pipeline

Medallion Pipeline Company announced today that it has launched a non-binding open season for its capacity that is leased on EPIC Crude Pipeline, LP’s crude oil pipeline system.

Taproot Expanding Midstream Infrastructure in DJ Basin

Taproot Rockies Midstream has been awarded an acreage dedication for crude gathering by Confluence Resources for its Platte River position. The in-service date for the pipeline is expected to be July 1.

U.S. District Court Orders Dakota Access Oil Pipeline Can Remain Open

The 570,000-bpd pipeline out of North Dakota that travels under a Missouri River reservoir is likely to stay running at least until an environmental review of the line is completed next year.

Oil Drillers and Bitcoin Miners Bond Over Natural Gas

On U.S. oil patches stretching along the Rockies and Great Plains, trailers hitched to trucks back up toward well pads to capture natural gas and convert it on the spot into electricity.