Oil
Mexico's Proven Crude Oil Reserves Fall as Natural Gas Reserves Rise
Mexico's proven crude oil reserves have fallen though proven natural gas reserves increased, resulting in an increased total for hydrocarbon reserves, the country's regulator said on Tuesday in its annual update for 2024.
U.S. to Purchase 6 Million Barrels of Oil for Strategic Petroleum Reserve
The U.S. Department of Energy’s Office of Petroleum Reserves has unveiled two new solicitations totaling 6 million barrels of oil for delivery to the Strategic Petroleum Reserve’s Bayou Choctaw site from September through December.
Oil Prices Extend Rally on Prospects of U.S. Crude Purchase for Reserve
Oil prices rose on Tuesday, extending the previous day's rally on hopes of higher seasonal fuel demand and potential U.S. crude purchases for its petroleum reserve, though gains were capped by a firmer dollar.
Glencore Wins Tender to Supply Crude to UK's Lindsey Oil Refinery
Global commodities trader Glencore has won a tender to supply crude oil to Prax's 113,000-barrel per day Lindsey oil refinery in Britain, replacing rival trader Trafigura, sources told Reuters.
Oil Prices Slip as U.S. Dollar Strengthens on Jobs Data
Oil prices nudged lower for a second straight session on Monday, weighed down by a firmer dollar as expectations of interest rate cuts were pushed out further following strong U.S. jobs data on Friday.
Rosneft's Sechin Criticizes Increase in Spare Oil Output Capacity in Middle East, West
He said that combined spare oil production capacity of Saudi Arabia, United Arab Emirates, Kuwait and Iraq stood at 5.6 million barrels per day, or 13% of OPEC+ current output.
Berkshire Buys Additional 2.57 Million Shares in Occidental Petroleum, Filing Shows
Warren Buffett's Berkshire Hathaway bought around 2.57 million shares of common stock in Occidental Petroleum over June 5-7, according to a U.S. securities filing.
U.S. Expedites Strategic Petroleum Reserve Purchases as Oil Prices Decline
The Department of Energy on Friday issued two solicitations to buy a combined 6 million barrels of crude for delivery to its Bayou Choctaw site in Louisiana from September through December.
Benin-Niger Dispute Intensifies with Arrests at Crude Pipeline Terminal
A prosecutor in Benin said authorities had detained five Niger nationals last week for allegedly entering Benin's Seme-Kpodji pipeline terminal under false pretenses, deepening a dispute over exports of crude oil from Niger via Benin.
Analysis: How Devon Energy Missed the Boat on U.S. Oil and Gas Mega-Deals
U.S. oil and gas producer Devon Energy has lost bids to acquire at least three of its peers in the last 12 months because its shares were spurned as acquisition currency, according to people familiar with the negotiations.
Afreximbank Provides $925 Million for Nigerian Oil Sector Expansion
Africa's Afreximbank has just greenlit a massive $925 million loan to Nigeria's NNPC, backing the oil giant's expansion plans.
Texas Startup Endeavors Again to Build First Major U.S. Oil Refinery Since 1977
Element Fuels Holdings, a Dallas-area startup proposing to build the first all-new U.S. oil refinery in nearly 50 years, on Thursday said it was relaunching efforts to build a large plant in South Texas.
Consortia Eye Citgo's Texas Refinery Ahead of Auction Deadline, Sources Say
Energy producers, refiners, investment funds and bankers increasingly have shown interest in the Venezuelan-owned company's Corpus Christ, Texas, complex during a marketing process organized by a U.S. court in Delaware.
TC Energy Shareholders Approve Spin-Off of North American Oil Pipeline Business
TC Energy shareholders voted in favor of spinning off the Canadian company's liquids pipeline business on Tuesday, creating a new energy infrastructure firm known as South Bow Corp. whose assets include the Keystone oil pipeline.
Ugandan Activist Detained Over Opposition to TotalEnergies Oil Pipeline, Pressure Group Reports
A Ugandan activist campaigning to stop the development of a $5 billion crude oil pipeline in east Africa by France's TotalEnergies and others has been detained by Uganda's military, the group he works for said on Wednesday.
U.S. Could Boost Rate of Replenishing Oil Reserve, Energy Secretary Granholm Says
The U.S. could hasten the rate of replenishing the Strategic Petroleum Reserve as maintenance on the stockpile is completed by the end of the year, Energy Secretary Jennifer Granholm told Reuters on Tuesday.
Czech Republic Set to Ditch Russian Oil by Mid-2025, PM Announces Pipeline Upgrade
The Czech Republic will end its use of Russian oil no later than the first half of 2025 as state pipeline firm MERO completes a capacity upgrade on the Transalpine Pipeline, Prime Minister Petr Fiala said on Tuesday.
U.S. Buys 3 Million Barrels of Oil for Strategic Petroleum Reserve
The U.S. is buying another 3 million barrels of oil for the country's Strategic Petroleum Reserve, the Department of Energy said on Monday, as it slowly replenishes the stockpile after the largest sale ever in 2022.
Chinese Refiner Rongsheng Buys First Canadian TMX Crude Oil Cargo
Chinese refiner Rongsheng Petrochemical has bought its first Canadian crude cargo via the recently expanded Trans Mountain pipeline from TotalEnergies through a tender, several trade sources said on Monday.
Navigating Small Diameter ILI Challenges in Crude Oil Gathering Systems
Bridger Pipeline operates a crude oil gathering system, of approximately 3,500 miles, in the Williston Basin of western North Dakota, eastern Montana and the Powder River Basin of Wyoming. The system contains many small-diameter (3-inch to 6-inch) gathering lines that are a challenge to inspect with ILI tools.
Chevron-led TCO Completes Maintenance at Tengiz Oilfield in May
TCO exports oil mainly via Caspian Pipeline Consortium's Black Sea terminal near Russian port of Novorossiisk. Some 5% of its crude exports also go through the Baku - Tbilisi - Ceyhan pipeline.
AltaGas and Vopak to Construct Major Energy Export Facility in British Columbia
Calgary-based AltaGas Ltd. and Royal Vopak from Rotterdam have jointly announced their decision to move forward with the construction of the Ridley Island Energy Export Facility in British Columbia, Canada.
Exxon and Chevron Pursue Big-Ticket Deals to Expand Oil Reserves
Cash-rich ExxonMobil and Chevron are bolstering their oil and gas drilling inventory with multibillion-dollar takeovers as they bet on resilient demand for years to come.
Colonial Pipeline Files for Rate Hike on 5,000-Mile U.S. Network, Effective July 1
The Colonial Pipeline, the largest pipeline system for refined oil products in the U.S., on Friday informed shippers that it has filed to increase rates for the majority of shipments on its more than 5,000-mile network.
STATS Group Expands Footprint with Key Projects Across Australia and Asia Pacific
Explore STATS Group's recent milestones in Australia and Asia Pacific, from groundbreaking pipeline projects to strategic expansions, positioning the company at the forefront of energy transition efforts.
Canada Increases Loan Guarantees for Trans Mountain Pipeline to $731 Million
The Canadian government has guaranteed another $731 million in commercial loans for the Trans Mountain pipeline expansion, Trans Mountain's quarterly earnings statement showed on Thursday.
Consolidation Trends Persist in U.S. Energy Sector in 2024
The consolidation wave in the U.S. energy sector that triggered $250 billion worth of deals in 2023 has stretched into this year, as companies look for opportunities to deploy their cash hoard and boost their reserves.
Russia Condemns U.S. Actions on Russia-China Trade and Oil Tankers
U.S. plans to further curb the operations of Russia's so-called "shadow fleet" of oil tankers are unacceptable and its desire to impede Russia-China trade is part of an illegal trade war, Russian Foreign Ministry spokeswoman Maria Zakharova said on Thursday.
Sudan Oil Pipeline Repair Near Completion, Says South Sudan Official
A Sudan oil pipeline ruptured during fighting in February has been repaired and could resume operation in the next two weeks, a South Sudan oil ministry official said on Tuesday.
Shell, Exxon Close to Selling North Sea Assets to Viaro Energy for $500 Million: Sources
Shell and ExxonMobil are nearing an agreement to sell their jointly-owned gas fields in the southern North Sea to independent British producer Viaro Energy, three industry and banking sources said.
- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Enbridge Plans 86-Mile Pipeline Expansion, Bringing 850 Workers to Northern B.C.
- Intensity, Rainbow Energy to Build 344-Mile Gas Pipeline Across North Dakota
- U.S. Moves to Block Enterprise Products’ Exports to China Over Security Risk
- Court Ruling Allows MVP’s $500 Million Southgate Pipeline Extension to Proceed
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- A Systematic Approach To Ensuring Pipeline Integrity
- 275-Mile Texas-to-Oklahoma Gas Pipeline Enters Open Season
- LNG Canada Start-Up Fails to Lift Gas Prices Amid Supply Glut
- Kinder Morgan Gas Volumes Climb as Power, LNG Demand Boost Pipeline Business
