Oil

U.S. Hurricane Damage to Cut Shell Oil Output Through Year-End

Damage to offshore transfer facilities from Hurricane Ida will cut production into early next year, slashing deliveries of a type of crude oil prized by refiners. The prolonged shut-in of the WD-143 platform would also affect smaller operators which use the Mars pipeline.

Shell Exits Permian with $9.5 Billion Texas Shale Sale to ConocoPhillips

Royal Dutch Shell said it would sell its Permian Basin assets to ConocoPhillips for $9.5 billion in cash, an exit from the largest U.S. oilfield for the energy major shifting its focus to the clean energy transition.

Dakota Access Pipeline Asks U.S. Supreme Court to Scrap Environmental Study Order

Dakota Access asked the U.S. Supreme Court to revisit whether the largest pipeline out of the North Dakota oil basin requires additional environmental review.

Program to Pacify Nigeria's Oil Delta Stalled by Corruption, its Boss Says

Before the amnesty program, the region had experienced years of full-blown conflict, with armed groups blowing up pipelines and flow stations, kidnapping oil workers and fighting the armed forces.

Oil Slips to $75 as U.S. Storm Threat Wanes

Oil slipped to about $75 a barrel on Thursday, falling from a multi-week high a day earlier, as the threat to U.S. Gulf production from Hurricane Nicholas receded.

Gulf Coast Oil Companies Return to Ida Recovery as Nicholas Recedes

Energy companies worked to restore pipeline service and electricity after Tropical Storm Nicholas passed through on Tuesday, allowing them to return to repairing the significant damage caused by Hurricane Ida two weeks ago.

Colonial Pipeline Shuts, Power Outages Rise as Nicholas Brings Rains, Wind

The largest U.S. fuel line shut down on Tuesday due to power outages caused by Nicholas, which made landfall as a hurricane before weakening on Tuesday, the second U.S. Gulf storm in as many weeks.

China to Announce Details of Oil Reserve Sales in Due Course

China said on Monday it will announce details of planned crude oil sales from strategic reserves in due course. The vague wording and the lack of detail created some confusion among market watchers over whether the auctions had already taken place or would happen in the future.

U.S. Loans Exxon Another 1.5 Million Barrels of Oil from Emergency Reserve

The U.S. Energy Department said it approved a second loan of 1.5 million barrels of oil to Exxon Mobil Corp from the Strategic Petroleum Reserve after damage from Hurricane Ida devastated offshore oil production.

U.S. Offshore Oil Production Losses Felt Around the Globe

Two weeks of U.S. offshore production losses spiraled on Thursday, with contract cancellations as prolonged outages due to damages from Hurricane Ida were felt around the globe.

Aramco Oil Pipelines Investors to Sell At Least $4 Billion in Bonds in Q4

A consortium led by EIG Global Energy Partners that took a stake in Saudi Aramco's oil pipelines is preparing to issue at least $4 billion in the fourth quarter to refinance a loan that largely funded the $12.4 billion deal, two sources said.

Securing America’s Critical Energy Infrastructure: 5 Steps for Operators

Today, fearing the worst, oil and gas companies – and the federal government – are putting a renewed emphasis on cybersecurity in this crucial component of our nation’s critical infrastructure sector. In this threatening and confusing landscape, operators follow five steps detailed in this article.

Enbridge Bolsters U.S. Gulf Coast Export Capacity with $3 Billion Moda Midstream Buy

Enbridge Inc. said on Tuesday it was buying logistics company Moda Midstream Operating LLC for $3 billion in cash, gaining access to an export terminal in Texas that loaded more than a quarter of all U.S. Gulf Coast crude exports last year.

U.S. Probing Nearly 350 Reports of Oil Spills in Wake of Hurricane Ida

The U.S. Coast Guard said on Monday it was investigating nearly 350 reports of oil spills in and along the U.S. Gulf of Mexico in the wake of Hurricane Ida.

Over 89% of Oil, Gas Output Shut in U.S. Gulf of Mexico

Oil and gas production in the U.S. Gulf of Mexico on Friday remained largely halted in the aftermath of Hurricane Ida, with 1.7 million barrels, or 93%, of its daily crude output suspended.

U.S. Energy Firms Strain to Shake Off Hurricane's Toll

U.S. oil and gas companies strained to get offshore operations back up and running on Thursday as the extent of Hurricane Ida's damages became more apparent.

Eni Announces Giant Oil Discovery Offshore Ivory Coast

talian energy group Eni said on Wednesday it had made a giant oil discovery in offshore Ivory Coast which could hold as much as 2 billion barrels of oil and around 2 trillion cubic feet of associated gas.

OPEC+ Committee Expects Oil Market Surplus in 2022

The OPEC+ joint technical committee expects the oil market to remain in a 0.9 MMbpd deficit this year but hit a surplus of 2.5 MMbpd in 2022 as the group raises production

Line 3 Pipeline Approaches Completion after Court Ruling

Enbridge's Line 3 replacement project is nearing completion after successfully defending another legal challenge last week, when the Minnesota Supreme Court decided it would not hear an appeal from opponents who sought to overturn regulatory approval.

ConocoPhillips-Backed Solaris Readies IPO with Sustainability Pitch

ConocoPhillips-backed Solaris Midstream Holdings LLC, the water pipeline company serving the U.S. oil and gas fracking industry, is preparing for an initial public offering (IPO) that it hopes will attract sustainability-focused investors.

Trophy Pipeline Announces Open Season for Texas Expansion Project

Trophy Pipeline announced it intends to conduct an Open Season for its Texas Expansion project. Trophy proposes to construct an approximately 3-mile-long pipeline from a new origin in Winkler County, Texas, to its existing FERC-regulated, crude oil pipeline in Lea County, New Mexico.

Pin Oak Commissions Taft 20” Pipeline, Terminal Interconnections

Pin Oak Corpus Christi announced the completion of the Taft 20" Pipeline, which provides the Pin Oak Taft Terminal with interconnections to Flint Hills Resources Midway Station and Cactus II Taft Terminal.

Permian Update: America’s Oilfield Builds Back from Another Bust

Three quarters of the way through what was to be a post-pandemic year, the midstream sector of America’s biggest oilfield is slugging its way back from the bottom again.

Five Killed in Mexico's Oil Platform Fire, Hammering Mexico Output

Five workers were killed and six injured in Sunday's fire on an offshore platform in the southern Gulf of Mexico operated by Petroleos Mexicanos (Pemex) that cut about a quarter of Mexico's oil production, the company said.

GAO Report Finds Multiple Problems with Keystone Pipeline

The U.S. government watchdog found multiple problems with the construction, manufacture and design of the Keystone XL pipeline, validating President Joe Biden’s decision to revoke its permit, leaders of several House Democratic committees said.

USD Partners Increase Connectivity at Stroud Terminal at the Cushing Hub

The expansion is being pursued by an affiliate of US Development Group and when completed will add a pipeline connection to a second 300,000-barrel storage tank at the Cushing, Oklahoma, crude oil hub.

U.S. Oil Refiner Citgo Petroleum Posts First Profit in Seven Quarters

Citgo Petroleum reported a slim, second-quarter profit, its first in seven quarters, as higher fuel exports helped offset weak margins and the impact of a fuel pipeline shutdown.

Oil Industry Sues Biden Administration Over Drilling Auction Pause

Major U.S. oil industry groups sued the Biden administration for halting drilling auctions on federal lands and waters this year, arguing the government is required by law to hold regular sales.

U.S. Gulf of Mexico Oil Producers Consolidation Accelerates

Oil and gas producers in U.S. Gulf of Mexico have consolidated at a faster rate during the pandemic, new government data shows, as crashing prices squeezed out smaller drillers who had been seen as the industry's future.

U.S. Drillers Add Most Oil Rigs in a Week Since April - Baker Hughes

U.S. energy firms added the most oil rigs in a week since April as the total rig count more than doubled from a record low a year ago amid a recovery in crude prices.