Oil
Focus: BP Ventures Back into Oil Frontiers to Boost Output
BP is ramping up oil exploration and drilling activity in frontier prospects as the energy giant tries to stem a decline in its oil and gas output after years of focusing on a shift to renewables to cut carbon emissions.
Congo in Discussions with Uganda Over Use of 898-Mile Crude Pipeline
Uganda is developing the $3.5 billion 1,445-km (898-mile) East African Crude Oil Pipeline (EACOP) that will start from oil fields in its Albertine rift basin on its western border with Congo to Tanzania's Indian Ocean seaport of Tanga.
Chile, Argentina’s YPF Ink Deal to Import Oil via Trasandino Pipeline
The contract, which is valid for 45 days, would enable the Chilean firm to buy 41,000 barrels of oil per day between May and June.
Pipeline Operator Kinder Morgan Begins Commercial Operations at Renewable Fuels Logistics Hub
(P&GJ) — Kinder Morgan Inc. has announced the commercial in-service of its renewable feedstock storage and logistics hub project with Neste, a leading provider of renewable diesel and sustainable aviation fuel.
Pembina Pipeline Activates Emergency Procedures After Fire, Floods Ravish Western Canada
Pembina Pipeline Corp., which operates oil-gathering pipelines in the region, said it has activated emergency response and incident management processes and is "evaluating any current or anticipated operational impacts".
Pipeline Operator Enbridge Reaches Mainline Toll Agreement with Oil Shippers
Canada's Enbridge Inc. said on Thursday it has reached a toll agreement with oil shippers for its Mainline crude pipeline system, one of North America's biggest, after scrapping earlier plans for long-term contracts.
Magellan Reports Higher Revenues to Transport Crude, Fuel in Q1
Magellan Midstream Partners on Thursday reported higher revenues to transport crude oil and refined products in the first quarter and raised its distributable cash flow guidance for the year.
As Oil Output Peaks, US Gulf of Mexico Makes Room for Carbon Capture
Some companies, including Exxon Mobil Corp., have been dumping assets in the Gulf, the nation's primary offshore source of oil, and are instead targeting capturing and storing carbon dioxide and other greenhouse gases underground.
Enterprise Products' Oil Pipeline Volumes Rise on Permian Basin Output Growth
Enterprise has remained bullish on oil production from the Permian basin, spread across Texas and New Mexico, and is looking to build a crude oil export terminal on the Gulf Coast to help push some of those barrels into the foreign market.
US Confiscates Iran Oil Cargo on Tanker Amid Tehran Tensions
The U.S. confiscated Iranian oil on a tanker at sea in recent days in a sanction’s enforcement operation, three sources said, and days later Iran seized another oil-laden tanker in retaliation, according to a maritime security firm.
Shell's Zydeco Pipeline Shut on April 25 After Oil Leak
Shell Pipeline Co.'s Zydeco oil pipeline — which alleviates transportation bottlenecks of crude arriving in Houston from the Eagle Ford, Permian and Bakken regions — was shut on April 25 after a limited release of crude oil was detected in the Intracoastal Waterway.
Hess, Exxon Make New Oil Discovery in Guyana’s Stabroek Block
The discovery on the group's Stabroek Block is the latest of more than 30 in the South American country's offshore waters since 2015. Hess holds a 30% stake in the consortium and said the discovery may help justify a new oil project.
EIA: US Oil Stocks Draw Across the Board as Gasoline Demand Rebounds
U.S. crude oil and gasoline inventories fell more than expected last week, as demand for the motor fuel picked up ahead of the peak summer driving season, Energy Information Administration data showed on Wednesday.
Shale Producer Pioneer's CEO Scott Sheffield to Retire
Sheffield, an energy veteran, served as Pioneer’s founding CEO from 1997 to 2016 and chairman since 1999. He stepped down from the CEO role in 2016 before returning to the helm three years later.
Unable to Process Venezuela's Heavy Oil, Cuba Turns to Russia, Mexico
Cuba increasingly is turning to Russia and Mexico for oil to ease an acute shortage of diesel and gasoline and supplement dwindling supplies of Venezuelan crude and fuel, according to shipping data and sources.
Record Oil-Reserve Sales May Have Benefited US Storage Caverns
Last year's record drawdown of the U.S. Strategic Petroleum Reserve oil stocks may boost the longevity of the underground storage caverns, according to the national laboratory that monitors the four sites.
First Nations: Canada’s New Infrastructure Power Brokers
(P&GJ) — After decades of largely contentious relations between Indigenous groups and energy infrastructure developers, Canada’s First Nations are beginning to embrace the economic opportunities that pipeline and export projects can offer – a trend that could make it easier to approve and complete future projects.
US Crude to Dominate Brent Oil Benchmark Under Index Change
Texas crude is set to assume a key role in the world's most important benchmark — Brent — as oil-index publisher S&P Global Platts adds U.S. WTI Midland crude to its dated Brent oil price assessment for June deliveries.
Cenit: Colombia's Transandino Oil Pipeline Bombed
The Transandino Pipeline runs along Colombia's border with Ecuador, taking up to 85,000 barrels of crude per day to an export terminal in Tumaco, a Pacific port in the country's Narino province.
Pipeline Operator TC Energy Says Keystone Oil Spill Caused by Fatigue Crack
Canada's TC Energy on Friday said a 14,000-barrel oil spill from its Keystone pipeline in rural Kansas in December was primarily due to a progressive fatigue crack, which originated during the construction of the pipeline.
Chad Nationalizes Exxon’s 621-Mile Pipeline as Dispute Over Asset Sale Escalates
Chad has recalled its ambassador to neighboring Cameroon in the latest escalation of a dispute over the sale by Exxon Mobil of its oil assets in both countries to Savannah Energy.
Colombia's Cano Limon-Covenas Pipeline Attacked for Ninth Time in 2023
The suspension of pumping operations at Colombia's Cano Limon-Covenas oil pipeline will be prolonged after a new bombing attack damaged its infrastructure in the country's Arauca province, oil transportation company Cenit said.
Biden Administration Says Republican Concerns About Oil Reserve Damage Unfounded
The Biden administration said concerns of Republican lawmakers that last year's record drawdown of oil from the Strategic Petroleum Reserve damaged the system's delicate salt caverns were unfounded, a letter seen by Reuters on Wednesday showed.
Permian In Spotlight as Energy Dealmaking Gathers Steam
Companies with a focus on the oil-rich Permian basin are likely to be at the center of the next wave of consolidation in the U.S. energy sector as favorable oil prices prompt cash-rich drillers to tap into the largest source of shale oil.
Trans Mountain Pipeline Expansion Project to Nearly Triple Current Capacity to 890,000 bpd
(P&GJ) — When the expanded Trans Mountain pipeline begins operating next year, it will provide access to new markets in Asia for Canadian oil producers that have suffered from years of limited pipeline capacity. The expansion project will add approximately 980 km (609 miles) of new pipeline and bring the nominal capacity of the system from approximately 300,000 barrels per day (bpd) to 890,000 bpd.
Azerbaijan's January-March Oil Exports Via BTC Pipeline Rise 9%
Azerbaijan's oil exports through the Baku-Tbilisi-Ceyhan (BTC) pipeline via Georgia and Turkey were up by 9.0% year-on-year in the first three months of this year at 7.244 million tonnes, the State Statistics Committee said on Monday.
US Warns Companies Over Russian Oil Price Cap Evasion Via ESPO Pipeline
The U.S. Treasury published a warning to U.S. companies on Monday of possible evasions of the Russian oil price cap exported through the Eastern Siberia Pacific Ocean (ESPO) pipeline and ports in eastern Russia.
US Oil Activity in Colorado, Wyoming Slips, Further Slowing Ahead
Oil and gas activity in the U.S. Midwest and Mountain West states declined in the first quarter and is expected to continue to slow, according to a survey released on Friday by the Federal Reserve Bank of Kansas City.
Iraq's Northern Oil Exports Stuck on Turkey Negotiations
Oil exports from northern Iraq to the Turkish port of Ceyhan remain at a standstill almost three weeks after an arbitration case ruled Ankara owed Baghdad compensation for unauthorized exports.
IEA: Global Oil Market Could Be Tight in Second Half 2023
The global oil market could see tightness in the second half of 2023, which would push oil prices higher, Fatih Birol, executive director of the International Energy Agency, said on Wednesday.
- Keystone Oil Pipeline Resumes Operations After Temporary Shutdown
- Freeport LNG Plant Runs Near Zero Consumption for Fifth Day
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
- Mexico Seizes Air Liquide's Hydrogen Plant at Pemex Refinery
- Enbridge to Invest $500 Million in Pipeline Assets, Including Expansion of 850-Mile Gray Oak Pipeline
- Venezuela Proposes Alternative Payment Plan as Weak Bids Surface in Citgo Auction
- Baker Hughes Wins Contract for Huge Aramco Gas Expansion Project
- Enbridge Picks Contractors for Great Lakes Tunnel Project, Securing Line 5 Pipeline Route
- Russia's Gazprom Sees Worst Loss in Decades as European Gas Sales Collapse
