Oil

Saudi Attacks Raise Spectre of $100/barrel Oil: Analyst View

The oil market will rally by $5-10 per barrel when it opens on Monday and may spike to as high as $100 per barrel if Saudi Arabia fails to quickly resume oil supply lost after attacks over the weekend, traders and analysts said.

Total Seeks Buyer for Tainted Russian Piped Oil

France's Total has issued a tender to sell 1.3 million barrels of contaminated Russian Urals crude oil for loading from Rotterdam port, according to three trading sources.

U.S. Oil Production Still Near Record High, but Growth Slowed

U.S. crude production remained close to a record level in June but growth has slowed significantly since the end of last year in response to lower oil prices and the slowdown is set to extend into 2020

Blue Mountain Launches Open Season for Gathering Systems

Blue Mountain Midstream announced its Wildcat subsidiaries launched an open season for new crude oil and water gathering systems and services in central Oklahoma.

Jobs Fall as Shale Boom Cools

U.S. oil and gas employment has started to fall as producers and service companies respond to the sharp decline in prices since the fourth quarter of 2018.

Kinder Morgan Closer to 3rd Permian Pipeline

Kinder Morgan is “moving along” with plans for a third major pipeline project from the Permian Basin – the newly named Permian Pass, which would deliver natural gas from West Texas to the Sabine area of the East Texas-Louisiana Gulf Coast, CEO Steven Kean said.

Plains All American to Remove Steel Tariff Surcharge on Cactus II

Plains All American Pipeline filed with U.S. regulators to remove a proposed surcharge on its Cactus II oil pipeline, tacked on as a result of the Trump administration’s tariff on imported steel.

New Pipelines Open Permian Tap as Demand Outlook Grows Cloudy

After scrambling to catch up with fast-growing Permian Basin crude oil production, pipeline operators appear to be entering a period of excess takeaway capacity with the completion of new and expanded systems this year.

Trafigura's U.S. Crude Exports Account for Over a Quarter of U.S. Total

Commodity trader Trafigura's exports of U.S. crude now account for over a quarter of the country's total since the new Cactus II pipeline started last month, the company's co-head of oil said, making the firm the single biggest exporter.

India, Nepal Open South Asia’s First Cross-Border Oil Pipeline

India and Nepal officially opened South Asia's first cross-border oil pipeline on Tuesday, a project seen as part of New Delhi's efforts to increase its influence in the Himalayan nation where China is also making deep inroads.

China's August Crude Imports Rise Amid Fuel Surplus

China's crude oil imports gained about 3% in August from a month earlier, customs data showed on Sunday, buoyed by a recovery in refining margins despite a persistent surplus of oil products and tepid demand.

Hong Kong Billionaire Offered $9.4 Billion for Canada's Inter Pipeline: Globe and Mail

Canada’s Inter Pipeline Ltd rejected a C$12.4 billion ($9.37 billion) buyout offer from Hong Kong billionaire Li Ka-Shing’s CK Infrastructure Holdings Ltd in July, the Globe and Mail reported late on Thursday, citing sources familiar with the two companies.

Dozens of Enbridge Oil Shippers Divided Over New Proposed Shipping Contracts

More than two dozen oil companies wrote to Canada’s energy regulator on Thursday to support or oppose it intervening in Enbridge Inc’s contentious proposal to overhaul shipping contracts on the Mainline pipeline network.

Corpus Christi Crude Loadings Hit Record as New Texas Pipelines Open

U.S. crude oil loaded onto vessels at Corpus Christi, Texas, last week hit an average 1 million barrels per day (bpd) following the opening of new pipelines from West Texas shale fields, according to consultancy RBN Energy.

NuStar Completes Pipeline Projects, Begins Moving Volume

NuStar Energy has announced that it has completed and is moving volumes on three key pipeline projects that will significantly expand the partnership's capacity to move Permian crude oil to Corpus Christi for export, and to move refined products into Northern Mexico.

Suncor CEO Sees Increased Political Risk for Keystone XL

Canada's second-largest oil producer, Suncor Energy, believes the political situation in the United States has increased the risks to companies counting on construction of TC Energy Corp's proposed Keystone XL oil pipeline, its chief executive said on Wednesday.

Clean-Up of Polish Section of Druzbha Pipeline Could Take a Year

The operator of the Polish section of the Druzbha oil pipeline said on Tuesday that it could take up to a year to completely clean its part of the network.

Asia's Imports of U.S. Crude Hit Record, but Pullback Likely: Russell

Columnist Clyde Russell says Asia’s record crude oil imports from the United States in August may be as good as it gets for some time - and not only because of the escalating trade war between Washington and Beijing.

Ruptured Nigerian Pipeline Spilled Oil: NNPC

A pipeline that ruptured on Friday in Nigeria's Delta state spilled oil, but has been contained, the head of state oil company NNPC said.

Saudi Aramco Sells First Crude From Permian Pipelines

Aramco Trading Company (ATC) sold its first-ever cargo of U.S. West Texas Light (WTL) crude, with a South Korean refiner the buyer, as the Saudi Aramco unit expands its U.S. oil dealings to boost trade volumes, four people familiar with the matter said.

Canada's Energy Regulator Responds to Concerns Over Enbridge Pipeline Plan

Canada's energy regulator on Tuesday responded to shipper complaints about Enbridge Inc's plan to switch to fixed contracts on its Mainline pipeline network by announcing a fast-track process to gather comment on the proposal that could lead to its being delayed.

BP to Quit Alaska After 60 Years With $5.6 Billion Sale of Assets

British oil major BP on Tuesday agreed to sell all its Alaskan properties for $5.6 billion to privately held Hilcorp Energy Co, exiting a region where it operated for 60 years.

New Permian Pipeline Startup Splits WTI Midland Market: Traders

WTI Midland crude prices at Plains All American Pipeline LP’s Midland terminal spiked this month compared with barrels traded at Enterprise Products Partners LP’s Midland terminal as Plains’ Cactus II pipeline began service, oil traders familiar with the matter said.

Canada's Largest Oil Producer Joins Opposition to Enbridge Pipeline Plan

Canadian Natural Resources Ltd, the country's biggest oil producer, has joined a number of other firms asking Canada's energy regulator to intervene in Enbridge Inc's plan to overhaul shipping contracts on its Mainline pipeline network.

Shell, Suncor Energy Ask Canadian Regulator to Review Contentious Enbridge Pipeline Plan

Two major oil companies have asked Canada's energy regulator to urgently review Enbridge Inc's proposal to switch to fixed contracts on its Mainline pipeline system, arguing the changes would be an abuse of Enbridge's market power.

Plains All American to Remove Steel Tariff Surcharge on Cactus II

Plains All American Pipeline filed with U.S. regulators on Monday to remove a proposed surcharge on its Cactus II oil pipeline, tacked on as a result of the Trump administration’s tariff on imported steel.

Gulf Coast Crude Prices Slide After Threat of Chinese Tariffs

China’s threat on Friday to slap a 5% tariff on U.S. oil imports could further soften demand for physical crude at hubs along the U.S. Gulf Coast, where exporters already have taken to shipping crude overseas without firm buyers, traders said.

H2O Midstream Acquires Sabalo Energy Produced Water Assets, Closes 15-Year Service Agreement

H2O Midstream has announced the acquisition of produced water infrastructure from Sabalo Energy, concurrent with the execution of a 15-year acreage dedication to provide produced water gathering, disposal and recycling services to Sabalo.

Bakken Oil Flows Hit 6-Month High as Rail to East Coast Drops

Crude pipeline flows from North Dakota's Bakken shale field have climbed to the highest in six months after the June closure of the largest U.S. East Coast refinery cut crude-by-rail volumes, according to traders and market intelligence firm Genscape.

New Permian Pipelines May be Hurting U.S. Crude Exports

Two long-awaited pipelines out of the busiest U.S. shale patch started shipping oil to Gulf Coast export hubs last week - just as U.S. crude barrels suddenly do not look all that attractive to buyers around the world.