Oil

Trans Mountain Pipeline Expansion to Disrupt Oil Flow to US, Boost Prices

Canada's Trans Mountain oil pipeline expansion (TMX), which will nearly triple the flow of crude from Alberta to Canada's Pacific Coast beginning early next year, will shake up North America's supply by diverting barrels now mainly delivered to refiners and exporters in the U.S. Midwest and Gulf Coast.

U.S. Lawmakers Urge Biden to Revive Kurdistan Pipeline for Economic Relief

A new U.S. approach is needed to facilitate the re-opening of a pipeline between Iraq's northern semi-autonomous Kurdistan region and Turkey, a trio of U.S. congressmen urged President Biden in a letter seen by Reuters.

Canada's Trans Mountain Oil Pipeline's Faces Hearing on Route Change Dispute

Canadian regulators on Monday kicked off a two-day hearing to weigh up a controversial route change request from the Trans Mountain expansion (TMX) project that has sparked Indigenous opposition and may lead to further delays for the key oil pipeline.

Editor's Notebook: Colorado’s Bold Initiative

(P&GJ) — The Colorado Air Quality Control Commission (AQCC) recently adopted rules aimed at increasing repair inspections and leak detection at oil and gas facilities throughout the state. While these new guidelines do not affect midstream directly, there are implications for the sector due to the growing emphasis on carbon-capture and related pipelines.

Turkish Minister: Iraq-Turkey Oil Pipeline Ready to Resume Operations Soon

Iraq's northern oil export route through Turkey will soon be ready to resume operation after checks on pipeline maintenance and repairs to flood damage, the Turkish energy minister said.

Trans Mountain Asks Regulator to Approve Oil Pipeline Tolls Despite Shipper Complaints

Trans Mountain Corp., the oil pipeline company owned by the Canadian government, asked a regulator on Thursday to approve the proposed tolls it wants to charge shippers, who have said they are too high.

US Contacts Oil Producers, Refiners as Gasoline Prices Rise

The head of the White House Council of Economic Advisers said that the U.S. Energy Department has talked to oil producers and refiners to ensure stable fuel supplies during rising gasoline prices.

EIA: Global Oil Stockpiles to Fall After Saudi Output Cut

Global oil inventories were expected to fall in the fourth quarter after Saudi Arabia extended output cuts this month, while U.S. crude production is forecast to rise more than previously thought, the Energy Information Administration said in a monthly report on Tuesday.

Trans Mountain Pipeline May Face 9-Month Delay Over Route Dispute

The Trans Mountain oil pipeline expansion could be delayed by up to nine months if regulators do not approve a route deviation request, the Canadian government corporation building the project said in a regulatory filing on Monday.

US Army Corps Holds Off Endorsing Energy Transfer’s Dakota Access Oil Pipeline Alternative

On Friday, the U.S. Army Corps of Engineers released a draft environmental impact statement (EIS) for Energy Transfer's Dakota Access oil pipeline. The statement evaluated five alternatives, including options like abandoning or rerouting the pipeline, but it did not make any recommendations.

Kingston Midstream to Acquire Rangeland Midstream’s Marten Hills Pipeline System

(P&GJ) — Midstream assets included in the transaction consist of the Marten Hills Pipeline System, comprised of crude oil and condensate pipelines, both 82 kilometers (51 miles) in length, and related assets serving the core of the Marten Hills region of north central Alberta in the prolific Clearwater play.

EIA Says Depleting US Crude Inventories Lift Oil Prices

U.S. commercial crude oil inventories have depleted by 34 million barrels since the middle of July, contributing to a sense the market is tightening and driving a recovery in spot prices and calendar spreads.

Trans Mountain Pipeline Expansion Faces Further Delays Over Route Change Dispute

Trans Mountain Corp. fears that the expansion of its Canadian oil pipeline may be delayed further unless a regulator allows it to change its route in British Columbia, according to a First Nation that opposes the route adjustment.

Kinder Morgan Prepares to Close Florida Pipeline System Ahead of Hurricane Idalia

U.S. oil producer Chevron on Tuesday said it evacuated staff from three U.S. Gulf of Mexico oil production platforms while Kinder Morgan planned to shut its Central Florida Pipeline system, as the energy companies braced for Hurricane Idalia.

Tivoli Midstream Acquires 140-Mile Oil Pipeline System from Phillips 66

(P&GJ) — Tivoli Midstream LLC has announced the closing of an acquisition of a crude oil pipeline system in Northern Texas (NTX) from affiliates of Phillips 66. NTX consists of approximately 140 miles of crude oil gathering and transportation pipelines and storage capacity in the Barnett Shale area of Northern Texas.

Pemex Crude Processing Slides in July, Production Lowest This Year

Crude processing at Mexican state oil company Pemex's domestic refineries fell in July to 768,732 barrels per day (bpd), well below the goal of 1 million bpd set by the government in its effort to make the country self-sufficient in energy next year.

Oil Leak Detected in Iran's Pipeline Between Kharg Island and Genaveh Port

An oil leak has hit a transmission pipeline linking Iran's Kharg island to the country's mainland port of Genaveh, the semi-official Tasnim news agency reported on Sunday, without specifying the magnitude of the spill.

Draft Environmental Study on Dakota Access Pipeline Expected in Fall

A U.S. court last year ordered the federal government to undertake a more intensive environmental study of the pipeline's route under a lake that straddles the border of North Dakota and South Dakota.

Trudeau Stands by Trans Mountain Expansion as Strong Investment Amid Challenges

Canadian Prime Minister Justin Trudeau said on Wednesday he was confident the Trans Mountain pipeline expansion was a solid investment and that interest is high among Indigenous groups who want to buy a share of the pipeline.

US Energy Firm Payouts to Oil Investors Top Exploration Spending for First Time

Top U.S. energy companies last year paid out more of their earnings to shareholders than they invested in new oil and gas fields for the first time, according to a report released on Tuesday.

Iraq Oil Minister in Turkey to Discuss Resuming Northern Oil Exports

Iraq's oil minister Hayan Abdel-Ghani arrived in the Turkish capital Ankara to discuss several issues including the resumption of oil exports through the Ceyhan oil terminal, a source in the minister's office told Reuters on Monday.

Shell Nigeria Investigates Possible Trans Niger Oil Pipeline Leak

Shell Plc's local unit is investigating a possible leak on its Trans Niger oil pipeline that traverses Bodo community in Nigeria's River state following an Aug. 18 report, a spokesperson said on Monday.

Venezuela’s PDVSA Fails to Curb Oil Leaks, Gas Flaring Despite Pledges

Venezuelan state oil company PDVSA has failed to make any dent in its oil spill or gas flaring woes, despite nascent promises of environmental clean-up by President Nicolas Maduro's government, according to people within the company, industry sources and an internal company document seen by Reuters.

Energy Transfer to Buy Crestwood in $7.1 Billion Pipeline Deal

The $7.1 billion deal will see Energy Transfer add about 2 billion cubic feet per day (Bcf/d) of gas-gathering capacity, 1.4 Bcf/d of gas-processing capacity and 340,000 barrels per day (bpd) of crude-gathering capacity.

Suncor Energy's Quarterly Profit Halves on Lower Oil and Gas Prices

Canada's Suncor Energy has joined its global peers in reporting a sharp drop in quarterly profit, as oil and gas prices retreated from last year's peak. Suncor also took a $204 million restructuring charge during the second quarter related to its plans to cut 1,500 jobs this year to reduce costs.

Nigeria's NNPC Destroys Dozens of Illicit Refineries, Oil Pipeline Connections

Nigeria's state oil firm NNPC has successfully dismantled dozens of illicit refineries and unauthorized pipeline connections as part of ongoing efforts to curb theft in the oil-rich Niger River delta, it said on Tuesday.

Canada Reaches Out to Indigenous Groups About Trans Mountain Stake Sale

The Canadian government has reached out to Indigenous groups about potentially selling them a stake in the Trans Mountain pipeline expansion project, edging ahead on its long-promised involvement of local communities in the controversial project, the finance minister's office said on Wednesday.

Montana Judge Rules State Policies Must Consider Climate Change in Fossil Fuel Projects

Montana is violating the rights of young people with policies that prohibit the state from considering climate change effects when it reviews coal mining, natural gas extraction and other fossil fuel projects, a state judge said Monday.

Oil Prices Fall 2% Despite Record US Crude Stock Drawdown

Oil prices settled down 2% on Wednesday despite a historic drop in U.S. crude stocks, as traders derisk following the downgrade of the U.S. government's top credit by a major ratings agency.

Argentina's Neuquen Hits Oil Export Record with Vaca Muerta Boost

In June, Neuquen, Argentina, exported a record 2.77 million barrels of oil, fueled by higher Vaca Muerta formation production. With a newly active pipeline linking Neuquen to Buenos Aires since early July, the region is poised for increased natural gas transport.