Oil

India, Nepal Open South Asia’s First Cross-Border Oil Pipeline

India and Nepal officially opened South Asia's first cross-border oil pipeline on Tuesday, a project seen as part of New Delhi's efforts to increase its influence in the Himalayan nation where China is also making deep inroads.

China's August Crude Imports Rise Amid Fuel Surplus

China's crude oil imports gained about 3% in August from a month earlier, customs data showed on Sunday, buoyed by a recovery in refining margins despite a persistent surplus of oil products and tepid demand.

Hong Kong Billionaire Offered $9.4 Billion for Canada's Inter Pipeline: Globe and Mail

Canada’s Inter Pipeline Ltd rejected a C$12.4 billion ($9.37 billion) buyout offer from Hong Kong billionaire Li Ka-Shing’s CK Infrastructure Holdings Ltd in July, the Globe and Mail reported late on Thursday, citing sources familiar with the two companies.

Dozens of Enbridge Oil Shippers Divided Over New Proposed Shipping Contracts

More than two dozen oil companies wrote to Canada’s energy regulator on Thursday to support or oppose it intervening in Enbridge Inc’s contentious proposal to overhaul shipping contracts on the Mainline pipeline network.

Corpus Christi Crude Loadings Hit Record as New Texas Pipelines Open

U.S. crude oil loaded onto vessels at Corpus Christi, Texas, last week hit an average 1 million barrels per day (bpd) following the opening of new pipelines from West Texas shale fields, according to consultancy RBN Energy.

NuStar Completes Pipeline Projects, Begins Moving Volume

NuStar Energy has announced that it has completed and is moving volumes on three key pipeline projects that will significantly expand the partnership's capacity to move Permian crude oil to Corpus Christi for export, and to move refined products into Northern Mexico.

Suncor CEO Sees Increased Political Risk for Keystone XL

Canada's second-largest oil producer, Suncor Energy, believes the political situation in the United States has increased the risks to companies counting on construction of TC Energy Corp's proposed Keystone XL oil pipeline, its chief executive said on Wednesday.

Clean-Up of Polish Section of Druzbha Pipeline Could Take a Year

The operator of the Polish section of the Druzbha oil pipeline said on Tuesday that it could take up to a year to completely clean its part of the network.

Asia's Imports of U.S. Crude Hit Record, but Pullback Likely: Russell

Columnist Clyde Russell says Asia’s record crude oil imports from the United States in August may be as good as it gets for some time - and not only because of the escalating trade war between Washington and Beijing.

Ruptured Nigerian Pipeline Spilled Oil: NNPC

A pipeline that ruptured on Friday in Nigeria's Delta state spilled oil, but has been contained, the head of state oil company NNPC said.

Saudi Aramco Sells First Crude From Permian Pipelines

Aramco Trading Company (ATC) sold its first-ever cargo of U.S. West Texas Light (WTL) crude, with a South Korean refiner the buyer, as the Saudi Aramco unit expands its U.S. oil dealings to boost trade volumes, four people familiar with the matter said.

Canada's Energy Regulator Responds to Concerns Over Enbridge Pipeline Plan

Canada's energy regulator on Tuesday responded to shipper complaints about Enbridge Inc's plan to switch to fixed contracts on its Mainline pipeline network by announcing a fast-track process to gather comment on the proposal that could lead to its being delayed.

BP to Quit Alaska After 60 Years With $5.6 Billion Sale of Assets

British oil major BP on Tuesday agreed to sell all its Alaskan properties for $5.6 billion to privately held Hilcorp Energy Co, exiting a region where it operated for 60 years.

New Permian Pipeline Startup Splits WTI Midland Market: Traders

WTI Midland crude prices at Plains All American Pipeline LP’s Midland terminal spiked this month compared with barrels traded at Enterprise Products Partners LP’s Midland terminal as Plains’ Cactus II pipeline began service, oil traders familiar with the matter said.

Canada's Largest Oil Producer Joins Opposition to Enbridge Pipeline Plan

Canadian Natural Resources Ltd, the country's biggest oil producer, has joined a number of other firms asking Canada's energy regulator to intervene in Enbridge Inc's plan to overhaul shipping contracts on its Mainline pipeline network.

Shell, Suncor Energy Ask Canadian Regulator to Review Contentious Enbridge Pipeline Plan

Two major oil companies have asked Canada's energy regulator to urgently review Enbridge Inc's proposal to switch to fixed contracts on its Mainline pipeline system, arguing the changes would be an abuse of Enbridge's market power.

Plains All American to Remove Steel Tariff Surcharge on Cactus II

Plains All American Pipeline filed with U.S. regulators on Monday to remove a proposed surcharge on its Cactus II oil pipeline, tacked on as a result of the Trump administration’s tariff on imported steel.

Gulf Coast Crude Prices Slide After Threat of Chinese Tariffs

China’s threat on Friday to slap a 5% tariff on U.S. oil imports could further soften demand for physical crude at hubs along the U.S. Gulf Coast, where exporters already have taken to shipping crude overseas without firm buyers, traders said.

H2O Midstream Acquires Sabalo Energy Produced Water Assets, Closes 15-Year Service Agreement

H2O Midstream has announced the acquisition of produced water infrastructure from Sabalo Energy, concurrent with the execution of a 15-year acreage dedication to provide produced water gathering, disposal and recycling services to Sabalo.

Bakken Oil Flows Hit 6-Month High as Rail to East Coast Drops

Crude pipeline flows from North Dakota's Bakken shale field have climbed to the highest in six months after the June closure of the largest U.S. East Coast refinery cut crude-by-rail volumes, according to traders and market intelligence firm Genscape.

New Permian Pipelines May be Hurting U.S. Crude Exports

Two long-awaited pipelines out of the busiest U.S. shale patch started shipping oil to Gulf Coast export hubs last week - just as U.S. crude barrels suddenly do not look all that attractive to buyers around the world.

Lotus Midstream Considers Reversing West Texas to Cushing Pipeline

Pipeline operator Lotus Midstream LLC may reverse flows on a line now sending crude from West Texas to Cushing, Oklahoma, the main hub for pricing U.S. crude futures, three people familiar with the matter said on Tuesday, an unusual move that could lift U.S. benchmark prices by draining supplies.

Sources: Majors Stuck with Tainted Russian Crude While Compensation Talks Continue

BP and Glencore are struggling to sell around 600,000 tons of tainted Russian oil more than three months after the contamination was discovered, according to six trading sources.

Canada's Alberta Extends Oil Curtailments Through 2020 Due to Slow Pipeline Progress

The government of Canada’s main oil-producing province, Alberta, said on Tuesday it was extending mandatory curtailments on crude production by an extra year through 2020, because of uncertainty about when expanded pipelines may come online.

Pembina to Acquire Kinder Morgan Canada, Cochin for $3.3 Billion

Calgary-based Pembina Pipeline has agreed to acquire Kinder Morgan Canada and the U.S. portion of the Cochin Pipeline system in a $3.3 billion deal that expands its Canadian storage capacity in a period of high demand.

Pipeline Shippers Challenge Plains' Steel Tariff Surcharge

Two U.S. shale producers have challenged an energy pipeline operator's proposed surcharge for the Trump administration's 25% tariff on imported steel, raising the stakes for pipeline builders facing higher construction costs.

China's CNPC Suspends Venezuelan Oil Loading Due to U.S. Sanctions: Sources

China National Petroleum Corp, a leading buyer of Venezuelan oil, has halted August loadings following the latest U.S. sanctions on the South American exporter, three sources with direct knowledge of the matter told Reuters on Monday.

ICE, Magellan to Offer Dock Capacity to Houston Oil Futures Customers

Intercontinental Exchange and Magellan Midstream said this week they would auction dock capacity at Magellan's terminals in Galena Park and Seabrook, Texas, for holders of ICE's Permian West Texas Intermediate (WTI) crude futures contracts.

Bid for Inter Pipeline Highlights Strength of Canada's Midstream Sector

A recent unsolicited bid for Inter Pipeline Ltd has highlighted the potential of Canada’s midstream companies to offer insulation from volatile oil prices.

EPIC Midstream Ships First Crude on New Permian-Gulf Coast Pipeline

EPIC Midstream Holdings Inc on Thursday began shipping crude oil on its 400,000 barrel per day (bpd) pipeline from the Permian Basin to the U.S. Gulf Coast, pushing Midland crude prices higher, traders said.