Oil
China Starts Up Crude Oil Pipeline Linked to Mega Private Refiner
A major crude oil pipeline connecting a storage farm in east China's Zhoushan of Zhejiang province to mega private refiner Zhejiang Petrochemical Corp. started pumping oil for the first time on Wednesday, local state media reported.
Poland Ready for Russian Oil Ban, Seeks Pipeline Sanctions
Poland is prepared for a Russian ban on oil sales to countries implementing a price cap, the climate minister said on Thursday, with the country having cut its intake of Russian crude and secured alternative supplies from producers such as Saudi Arabia.
Analysis: Argentina’s Vaca Muerta Shale Boom Running Out of Road
Argentina’s booming shale production in Vaca Muerta, a formation that rivals the United States’ Permian Basin, is at risk of running out of road as infrastructure to handle the oil and gas nears capacity, threatening to put the brakes on rapid growth.
Harvest Midstream to Acquire Phillips 66's Crude Oil Terminal in Louisiana
(P&GJ) — Harvest Midstream has entered an agreement with Phillips 66 to purchase the Belle Chasse Terminal, formerly the Alliance Refinery located in Plaquemines Parish, Louisiana. The acquisition is expected to close in the first quarter of 2023.
Explainer: Oil Storage Situation in Canada, US After Keystone Spill
Days after TC Energy Corp.'s Keystone pipeline shut following a 14,000-barrel spill into a creek in Kansas, traders are questioning whether there is enough oil in storage in key areas if the pipeline remains closed for a number of weeks.
US Begins Buying Back Oil for Strategic Petroleum Reserve
The U.S. Energy Department said on Friday it will begin buying back oil for the Strategic Petroleum Reserve, or SPR, the first purchase since this year's record 180 million barrel release from the stockpile.
US Poised to Become Net Exporter of Crude Oil in 2023
Sales of U.S. crude to other nations are now a record 3.4 million bbl/d, with exports of about 3 million bbl/d of refined products like gasoline and diesel fuel. The United States is also the leading LNG exporter, where growth is expected to soar in coming years.
Winter Storm Cuts North Dakota's Shale Oil Production
A winter blizzard sweeping across the northern United States has cut North Dakota's oil output by 200,000 to 250,000 barrels per day, or 18% to 22%, state Pipeline Authority Director Justin Kringstad estimated on Friday.
Morgan Stanley Sees Brent Crude Oil Back at Around $110/bbl by Mid-2023
Morgan Stanley on Wednesday said it expects Brent crude oil prices to rally to around $110 per barrel level by mid-2023, citing support from rising demand and continued supply tightness.
Oil Rises to Over $80/bbl as Dollar Slumps on Slowing Inflation
Oil settled over $80 a barrel on Tuesday and recorded its biggest daily gains in over a month, as investors bought up risk assets after U.S. data pointed to slowing inflation.
TC Energy’s Keystone Pipeline Shut After Oil Release into Kansas Creek
TC Energy on Thursday said it shut the 622,000 barrel-per-day Keystone pipeline due to an oil spill into a Kansas creek. The size of the leak, which occurred about 20 miles south of a key junction in Steele City, Nebraska, is currently unknown.
Alaska North Slope Crude Price Falls to Lowest Since April 2020
Prices for Alaska North Slope (ANS) crude fell on Tuesday to the lowest since September 2020, as refineries in California bought more crude locally and the spread between low sulfur and higher sulfur crudes widened.
Outrigger Energy Sells Nearly 200 Miles of Natural Gas, Crude Pipeline to Summit Midstream
(P&GJ) — Outrigger Energy II LLC has completed the sale of its midstream system in Weld County, Colorado to Summit Midstream Partners LP, which includes approximately 160 miles of low and high pressure natural gas gathering pipeline and 30 miles of crude oil gathering pipelines with delivery to the Pony Express Pipeline.
TAL Approves Pipeline Upgrade to Help Czechs Ditch Russian Crude
Owners of the Transalpine Pipeline (TAL) shipping crude from the Mediterranean to central Europe approved a plan on Wednesday to upgrade the link, which is key for the Czech Republic to wean itself off Russian oil, the Czech Finance Ministry said.
EIA: US Oil Output Climbs to Highest Since March 2020
U.S. oil output climbed 2.4% to 12.27 million barrels per day (MMbbl/d) in September, government figures showed on Wednesday, the highest since the onset of the COVID-19 pandemic.
Poland Seeking German Support to Sanction Russian Druzhba Oil Pipeline
Poland is seeking German support to slap EU sanctions on the Polish-German section of the Druzhba crude pipeline so Warsaw can abandon a deal to buy Russian oil next year without paying penalties, two sources familiar with the talks said.
Russia's Transneft Says Part of Druzhba Oil Pipeline in Ukraine Suspended
A section of the Druzhba oil pipeline in Ukraine has been partially suspended, Russia's TASS news agency reported on Wednesday, citing the state-owned pipeline operator Transneft.
Yemen's Houthis Attack Al-Dhabba Oil Terminal, Force Ship to Leave
Yemen's Houthis attacked al-Dhabba oil terminal in Hadhramaut province on Monday, the group and Yemen's internationally recognized government said.
Shell's Zydeco Oil Pipeline Running at Reduced Capacity
Shell Pipeline Co.'s Zydeco oil pipeline from Houston to Port Neches, Texas, is operating at reduced capacity due to project work at Port Neches, and is expected to remain at reduced capacity until mid to late December, the company said on Thursday.
White House Asks Congress for $500 Million to Modernize Oil Reserve
The Biden administration has asked Congress for $500 million to modernize the U.S. strategic petroleum reserve (SPR), a document outlining the request shows. The SPR oil is stored in hollowed-out, underground salt caverns that can shift and potentially require maintenance when petroleum is removed and replaced.
Oil Prices Settle Higher on Druzhba Oil Pipeline Disruption
Oil prices rose on Tuesday and settled higher after news that oil supply to Hungary via the Druzhba oil pipeline has been temporarily suspended due to a fall in pressure. Russia's state-owned pipeline monopoly Transneft has been notified by Ukraine of the pipeline disruption, the RIA news agency quoted Transneft as saying on Tuesday.
Oil Refiner Citgo Petroleum Reports $477 Million Third Quarter Profit
Oil refiner Citgo Petroleum on Thursday reported third quarter earnings of $477 million on strong margins and higher throughput at its three U.S. oil processing plants.
US Allows Transactions to Free Sanctioned Oil Tanker Stranded in Indonesia
The Indonesian navy has been trying to free the Djibouti-registered ship, Young Yong, which ran aground off Indonesia's Riau Islands on Oct. 26 near a gas pipeline.
Uganda Says First Oil in April 2025, Eyes China for Pipeline Funding
Uganda aims to start commercially pumping its oil reserves in April 2025, with China being considered as a potential source of funds to develop an export pipeline, Uganda's energy minister said on Tuesday.
US Sells Last Batch of Emergency Reserve Oil from Historic Release
The U.S. Department of Energy on Thursday said it sold 15 million barrels of oil from the Strategic Petroleum Reserve to six companies, completing the last batch of the largest-ever release from the stockpile announced by President Joe Biden in March.
EIA: US Crude Stocks Down, Refining Runs Rise
Crude oil and gasoline stocks fell in the most recent week, while refiners ramped up activity ahead of the heating season with inventories already tight, the U.S. Energy Information Administration (EIA) said on Wednesday.
Serbia's New Government Makes Energy Infrastructure Top Priority
The Serbian parliament appointed a new government on Wednesday whose main priorities are EU membership and investment in oil and gas pipelines and other energy infrastructure.
China's Oil Imports Fall as Pipeline Gas, LNG Rebound
China's crude oil imports in September were 2% below their level a year earlier as independent refiners curbed throughput amid thin margins and lackluster demand, but natural gas imports bounced back.
Biden to Announce Emergency Oil Sales to Prevent Price Spikes
U.S. President Joe Biden will announce a plan on Wednesday to sell off the last portion of his release from the nation's emergency oil reserve by year's end and detail a strategy to refill the stockpile when prices drop, administration officials said.
US Could Sell More Oil from Emergency Reserve This Week
The Biden administration plans to sell more oil from the U.S. Strategic Petroleum Reserve in a bid to dampen fuel prices before next month's congressional elections, according to three sources familiar with the matter.
- Repsol Ditches Plans to Develop LNG Terminal on Canada’s East Coast
- Kazakh Oil Decouples from Russian Crude But Risk Weighs on Price
- Pipeline Operator TC Energy Says Stress, Weld Fault Caused Keystone Oil Spill
- US to Sell 26 Million Barrels of Oil Reserves As Mandated by Congress
- Ukraine to Jointly Buy Gas with European Union Countries
- Company Cancels Byhalia Connection Pipeline Project
- US Intelligence Suggests Pro-Ukrainian Group Sabotaged Nord Stream Pipelines -NYT
- EIA: US Natural Gas Output to Hit Record High in 2023, Demand to Fall
- US Regulator Orders Lower Pressure on Keystone Pipeline System After Spill
- US Carbon Pipeline Faces Setback as Residents Refuse to Cede Land Rights
