Oil

Making Digital Transformation a Reality

Unlocking the value of process data through digital transformation not only offers oil and gas operators huge benefits, but it is also an essential step for businesses to remain efficient and competitive in the future.

Pioneer Natural Resources Warns of Tepid Shale Growth in Coming Years

Pioneer Natural Resources Co.'s top executive said that U.S. shale growth was "not going to grow that much" in the coming years, as oil and gas companies continue to focus on capital discipline and shareholder returns.

Plains All American Boosts Earnings Outlook as Fuel Demand Recovers

Plains All American Pipeline LP raised its forecast for 2021 adjusted core income, as the oil and gas sector benefits from easing travel curbs and a recovering economy firing up fuel demand.

Pipeline Operator Enbridge Posts Drop in Quarterly Profit

Enbridge Inc. said its quarterly profit fell sequentially, as the Canadian pipeline operator transported lower volumes of fuel on its Mainline system.

Riding the Oil Price Rebound: Gulf States to Accelerate Asset Sales

Saudi Aramco and other Gulf oil producers are following in the footsteps of Abu Dhabi with plans to raise tens of billions of dollars through sales of stakes in energy assets, capitalizing on a rebound in crude prices to attract foreign investors.

Neptune Energy Installs World’s Longest ETH Production Pipeline

Neptune Energy announced the installation and testing of the world’s longest trace-heated subsea production pipeline at its operated Fenja field in the Norwegian sea. The 37-kilometre (23-mile) electrically trace-heated pipe-in-pipe solution will transport oil from the field to the Njord A platform, operated by Equinor.

HollyFrontier, Pipeline Unit to Buy Sinclair Oil in $2.6 Billion Deal

HollyFrontier Corp and its pipeline partner will buy almost all of Sinclair Oil's assets in two deals totaling around $2.6 billion, the companies said, adding new refining, pipeline and storage assets to their portfolio.

Perspective: IEA’s Roadmap Shows Difficult Journey to Net Zero

Polarized responses to the International Energy Agency report on achieving net zero emissions by 2050 reveal the enormous challenges of the goal and differences about whether it is realistic in the timeframe.

U.S. Oil & Gas Rig Count Falls for First Week in Eight -Baker Hughes

U.S. energy firms cut the number of oil and natural gas rigs operating for the first time in eight weeks amid an industry stampede to reward investors with share buybacks instead of boosting production.

Pipeline Operator Enbridge Beats Profit Estimates as Oil Volumes Rebound

Canadian pipeline operator Enbridge Inc reported second-quarter profit which beat expectations on Friday, as oil volumes transported on its Mainline system rose from a year ago due to a rebound in fuel demand.

TC Energy to Switch to Green Power to Run N. American Energy Pipelines

Canadian pipeline operator TC Energy Corp could spend billions of dollars on its plans to lower emissions by switching to renewable energy to run its huge network of U.S. and Canadian oil and gas pipelines.

Mexican Methane Leak Rate 'Alarming' for Climate Change, Report Says

To blame for Mexico's poor record are mostly high emissions at midstream facilities that gather, compress, and process the gas, the report says. Other culprits are venting and flaring.

Enterprise Products Oil Pipeline Volume Rises on Demand Recovery

Enterprise Products Partners said on Wednesday volume across its crude oil pipelines rose 5% in the second quarter on the back of a recovery in demand as the global economy continues to reopen following COVID-19 lockdowns.

Inter Pipeline Walks Away from Pembina Deal in Favor of Brookfield Bid

Canadian pipeline operator Inter Pipeline on Monday decided against recommending a C$8.5 billion ($6.77 billion) deal with rival Pembina Pipeline Corp to shareholders and instead chose to pursue a higher bid from Brookfield Infrastructure Partners.

U.S. Drillers Add Oil and Gas Rigs for Fourth Week in a Row

U.S. energy firms added oil and natural gas rigs for a fourth week in a row for the first time since May, spurred by higher oil prices although growth in drilling has been modest as producers favor spending austerity.

Republic of Panama, Energy Transfer Studying Potential Trans-Panama Gateway Pipeline

The Republic of Panama and Dallas-based Energy Transfer LP announced that the parties have signed a Memorandum of Understanding (MOU) to study the feasibility of joint participation in a proposed Trans-Panama Gateway Pipeline project.

Ecopetrol Reports Recovery of Operations After Stabilization in Colombia

Ecopetrol reported the recovery of its operations in the upstream, midstream, downstream and sales and marketing segments in Colombia, in connection with the adverse impacts the company had observed because of restrictions on mobility.

Petrobras' Albacora Seen Drawing At Least Three Buyers

Petrobras' Albacora oilfields in Brazil are likely to attract at least three buyers despite a roughly one-month delay to let interested parties finalize their bids, four sources with knowledge of the matter told Reuters.

U.S. Drillers Add Oil and Gas Rigs for Second Week in a Row

U.S. energy firms added oil and natural gas rigs for a second week in a row as oil prices recently rose to their highest since Oct. 2018, prompting some drillers to return to the well pad.

NGL Energy Partners Announce Open Season for Grand Mesa Pipeline

NGL Energy Partners announced that a binding open season began Friday for its wholly owned affiliate Grand Mesa Pipeline’s crude oil pipeline.

Perspective: U.S. Petroleum Inventories are Becoming Tight

U.S. petroleum inventories have fallen below the pre-pandemic five-year average with consumption accelerating but crude producers slow to respond to rising prices, signaling more supply is needed.

North Dakota Sues Federal Govt Over Canceled Oil and Gas Leasing

North Dakota is suing the U.S. government on claims the Department of the Interior and the Bureau of Land Management illegally canceled oil and gas lease auctions in the state.

Norway’s Pipeline Sector Continues to Grow

Norway has benefited from North Sea oil and gas for over half a century. At the start of 2021, Norway was the world’s third-largest gas exporter and fifteenth biggest oil producer after Qatar, reported the BP “Statistical Review of World Energy 2020.”

Record-Breaking Summer European Gas Prices Signal an Expensive Winter

European gas prices vaulted to record highs this summer, driven by factors ranging from low inventories and outages to an Asian buying spree, and signaling further rises in coming months that could mean higher household bills this winter.

Company Cancels Byhalia Connection Pipeline Project

Byhalia Connection LLC announced it is no longer pursing the Byhalia Connection construction project, which had called for the construction of an oil pipeline through southwest Tennessee and northern Mississippi.

Mexican Oil Giant Says No Environmental Damage from Raging Gulf Fire

Days after video of a massive ocean surface blaze near a Pemex oil platform in the Gulf of Mexico went viral, Mexico's national oil company has declared that environmental damage was avoided due to quick action by its workers.

Oman State Energy Firm OQ May Sell Drilling Business

Oman state energy company OQ is considering selling its drilling unit Abraj Energy Services, sources said, as the Gulf nation seeks to shore up its finances that have been hit by the coronavirus pandemic and last year's oil price plunge.

TC Energy Files $15B NAFTA Claim Over Keystone XL Cancellation

TC Energy Corporation filed a Notice of Intent to initiate a legacy North American Free Trade Agreement claim under the United States-Mexico-Canada Agreement to recover economic damages resulting from the revocation of the Keystone XL Project’s Presidential Permit.

Nigeria Losing 200,000 BPD to Pipeline Damage, Minister Says

Nigeria is losing an average of 200,000 barrels of oil per day - more than 10% of its production - to pipeline vandalism, the country's information minister said on Monday.

Energy Trader Mercuria Posts Record Profit for Volatile 2020

Mercuria Energy Group had a boom year in 2020, buoyed by the extreme volatility seen in oil markets caused by the COVID-19 pandemic, as well as very strong returns across its portfolio, particularly gas and power.