Oil

Iraq Oil Ministry Says Pipeline to Jordan Needs to Cost Under $9 Billion

The Iraqi oil ministry said on Wednesday the cost of a long-planned oil pipeline to Jordan's Aqaba port city should be brought under $9 billion for the project to go ahead.

Enterprise Products Oil Pipeline Volume Up 18% as Demand Recovers

Volumes on its natural gas liquids, crude oil, refined products and petrochemical pipelines have substantially recovered to near pre-pandemic levels despite temporary shut-ins from Hurricane Ida, the company said.

US Unveils Crackdown on Methane from Oil and Gas Industry

The Biden administration unveiled a plan to slash emissions of the greenhouse gas methane from oil and gas operations, drawing cautious support from both environmental groups and drillers.

Petroperu Warns of Possible Fires at Pumping Station Occupied by Protesters

Petroperu warned on Monday that protesters who seized a pumping station of an oil pipeline a month ago risked causing fires and explosions at the facility, located in an Amazon jungle region of the country.

Biden Pushes G20 Energy Producing Countries to Boost Production

With oil and gas prices surging, some energy-producing countries such as Russia and Saudi Arabia have not boosted output enough to satisfy countries that are largely energy consumers and worry about energy shortages and inflation.

Congress Puts Big Oil in the Hot Seat in Climate Deception Probe

The U.S. Congress opened a year's worth of investigations into whether Big Oil deceived Americans about its role in climate change, with Democratic lawmakers planning to grill the chiefs of four oil companies and two lobby groups.

Democrats Scramble to Salvage US Methane Fee Proposal

Democrats are considering paring down a proposed methane fee on United States oil and gas producers as a way to pacify opposition to the idea from within its own ranks.

Libya's NOC Says Pipeline Leak Will Need Days of Maintenance

A major leak in the pipeline running to Libya's Es Sider terminal has led to the pipeline being shut down and it will require seven-10 days of maintenance, National Oil Corp's media department said.

Phillips 66 to Acquire Remaining Stake in Partnership for $3.4 Billion

Phillips 66 Partners was formed by the refiner to own, operate, develop and acquire primarily fee-based crude oil, refined petroleum products and natural gas liquids pipelines, terminals and other midstream assets.

Crestwood Equity to Boost US Shale Footprint With $1.8 Billion Deal

Oil and gas pipeline operator Crestwood Equity Partners LP will buy Oasis Petroleum Inc.'s midstream unit in a $1.8 billion deal to expand its footprint in United States shale basins.

Citgo Boards in Last-Ditch Talks with Washington to Keep Creditors at Bay

The supervisory boards of Venezuela-owned Citgo Petroleum have held talks with U.S. officials in Bogota, Colombia, seeking to extend Washington's protection while Citgo pursues negotiations with creditors.

Shell Expects Ida-Hit Offshore Facility to Restart in November

Shell expects an offshore transfer facility, which was shut due to damage from Hurricane Ida, to be operational in the first half of November, restarting production of a popular Gulf of Mexico crude grade earlier than expected.

Texas Pipeline Operator Altus to Combine with Blackstone-Backed BCP Raptor

Altus Midstream Co. said it would merge with BCP Raptor, a holding company for pipeline assets in the Permian Basin owned by investment firms, with the combined entity to be valued at $9 billion inclusive of debt.

Sources: US Slowing Down Oil and Gas Mergers

Regulators have extended the approval process for at least five oil and gas mergers and acquisitions in the last three months, as President Joe Biden's administration scrutinizes deals in a bid to tackle soaring energy prices.

Exxon Board Debates Dropping Several Major Oil and Gas Projects

The board members expressed concerns about some projects, including a $30 billion LNG development in Mozambique and another multibillion-dollar gas project in Vietnam, the WSJ report said.

Enbridge Briefly Shut Down Line 5 After Protesters Tampered with Pipeline

Enbridge Inc. shut down its Line 5 oil pipeline for several hours on Tuesday after protesters trespassed onto a facility in Michigan and tampered with the pipeline, an Enbridge spokesman said on Wednesday.

Colombia ELN Guerrillas Claim Responsibility for Attacks on Oil Pipeline

Left-wing guerrillas from the National Liberation Army in Colombia have claimed responsibility for an attack against a pipeline used to transport crude to the country's most important refinery.

Hungry for Fuel, China Looks to the US, Europe Eyes Relief Plans

China's energy crisis deepened on Friday with coal prices hitting a record high as cold weather sweeps in and soaring gas prices prompting major energy companies to seek long-term deals with U.S. suppliers.

Energy Crisis Could Threaten Global Economic Recovery, Says IEA

Oil and natural gas prices have soared to multi-year highs recently, sending power prices surging to record levels as widespread energy shortages hit Asia and Europe.

Energy Crunch Stokes Inflation, Economic Recovery Concerns

Authorities from Beijing to Delhi scrambled to fill a yawning power supply gap on Tuesday, triggering global stock and bond market wobbles on worries that rising energy costs will stoke inflation.

Sudan Running Low on Fuel Oil and Wheat Due to Port Blockade

A three-week blockade of Sudan's main port by tribal protesters is causing shortages of wheat and fuel oil for power generation, endangering the country's already faulty electricity supply, a cabinet minister said.

Chief Oil & Gas Explores Sale for More Than $3 Billion

Chief Oil & Gas LLC, the Appalachian exploration and production company founded and controlled by Texas wildcatter Trevor Rees-Jones, is exploring a sale that could value it at more than $3 billion.

Texas’ Midland Basin Accounts for 15% of US Crude Oil in 2020

Texas’s Midland Basin, part of the larger Permian Basin, which spans parts of western Texas and eastern New Mexico, is made up of many stacked hydrocarbon-bearing formations.

California Lawmakers Vow to Investigate Offshore Oil Spill

Democratic members of Congress from California seized on the oil spill off the state's coast to call for investigations into why it took several hours before a pipeline operator reported the spill to federal authorities.

Pipeline from California Oil Spill was Moved 105 Feet Along Sea Floor

The oil appears to have leaked through a 13-inch (33-cm) gash in the pipe, which was "pulled like a bowstring" about 105 feet from where it should have been, Martyn Willsher, chief executive of Amplify Energy, told a news conference.

Plains All American, Oryx Midstream Form Permian Basin Joint Venture

Plains Oryx Permian Basin (the joint venture) includes all of Oryx's Permian assets and, except for Plains' long-haul pipeline systems and certain intra-basin terminal assets, the majority of Plains' assets within the Permian Basin.

California Port Where Spill Occurred had Numerous Ships Waiting to Unload

Ships in record numbers have jammed the port complex near this weekend's oil spill in California, according to port data, as investigators look into whether a ship's anchor could have hit a pipeline to cause the leak.

Canada Formally Invokes 1977 Pipeline Treaty with US Over Line 5 Dispute

Canada formally invoked a 1977 treaty with the United States to request negotiations over Enbridge Inc.'s Line 5 pipeline, escalating a long-running dispute over one of Canada's major oil export pipelines.

California Oil Spill Cause Probed; Storm Threatens Cleanup

Federal and state investigators were focusing on a 41-year-old pipeline as the likely source of an oil spill that killed wildlife and fouled the coast of southern California, and an approaching storm threatened cleanup efforts.

Sentinel Midstream, ExxonMobil Form Enercoast Midstream to Serve Houston Energy Market

Sentinel Midstream Texas announced the formation of a joint venture with ExxonMobil Pipeline Company that owns crude oil pipelines and related transportation infrastructure in the Houston area.