Oil
Kazakhstan: Caspian Pipeline Oil Flows Uninterrupted After Russian Pump Station Hit
Kazakhstan's oil exports are on schedule via its main oil export route, the Caspian Pipeline Consortium (CPC), the country's energy minister said on Wednesday, despite damage to a pumping station from a drone attack last week.
Canada Eyes New Oil Pipelines to Avoid U.S. Tariffs, But No One Wants to Build Them
The Canadian government would have to play a significant role in any project to build new oil pipelines in Canada to overcome regulatory, financial and political hurdles and activist opposition, industry experts said.
Iraq to Submit Updated Plan for OPEC+ Overproduction Compensation
Iraq reaffirmed its commitment to the OPEC+ agreement on Monday and said it would present an updated plan to compensate for any overproduction in previous periods, according to a statement from the Iraqi oil ministry.
Saipem, Subsea7 Agree to Multibillion-Dollar Merger to Form Saipem7
Saipem and Subsea7 have reached an agreement in principle to merge, forming a global energy services company with a combined backlog of $46.8 billion, revenue of approximately $21.8 billion, and EBITDA exceeding $2.2 billion.
Michigan Court Backs Permits for Enbridge’s Line 5 Pipeline Tunnel Project
A Michigan appeals court upheld permits for Enbridge’s Line 5 pipeline tunnel project, rejecting environmental and tribal challenges. The ruling allows the company to move forward, though legal and regulatory hurdles remain.
ConocoPhillips to Sell Ursa, Europa Interests, Pipeline Stake to Shell for $735 Million
ConocoPhillips has agreed to sell its interests in the Ursa and Europa fields, along with its stake in Ursa Oil Pipeline Company LLC, to Shell Offshore Inc. and Shell Pipeline Company LP for $735 million.
Trump's 10% Oil Tariff Could Cost Foreign Producers $10 Billion Annually, Goldman Sachs Says
Goldman Sachs said on Friday a proposed 10% U.S. oil tariff could cost foreign producers $10 billion per year, as Canadian and Latin American heavy crudes remain reliant on U.S. refiners due to limited alternative buyers and processing capabilities.
CPC Blend Oil Loadings Rise to 1.67 Million bbl/d for February, Sources Say
Black Sea CPC Blend oil exports were revised up to 1.67 million barrels per day (bbl/d) in February's program from 1.42 million bbl/d in a previous version due to higher supply from Kazakh oilfields, two sources familiar with the loading plan said.
U.S. Pressures Iraq to Restart Kurdish Oil Exports Amid Iran Sanctions
U.S. President Donald Trump's administration is piling pressure on Iraq to allow Kurdish oil exports to restart or face sanctions alongside Iran, eight sources with direct knowledge of the matter told Reuters.
Kazakh Oil Output Hits Record High Despite Russian Pipeline Damage
Kazakhstan has pumped record high oil volumes despite damage on its main export route via Russia, the Caspian Pipeline Consortium (CPC), industry sources said on Thursday.
Army Corps Lists Enbridge’s Line 5 as ‘Emergency’ Project Eligible to Bypass Environmental Review
The Army Corps of Engineers has identified over 600 energy and other infrastructure projects identified as national emergency priorities, enabling them to be fast-tracked through the environmental review process, according to new data posted on its website.
Texas GulfLink Oil Export Project Receives U.S. Maritime Approval
Sentinel Midstream LLC, a Dallas-based crude oil midstream provider, announced that its Texas GulfLink deepwater crude oil export terminal has been approved for a deepwater port license by the U.S. Department of Transportation’s Maritime Administration.
North Dakota Sees Major Oil Production Drop Due to Frigid Temps
North Dakota's oil production has dropped by up to 150,000 bpd due to extreme cold, with wellhead natural gas output also affected. Warmer weather is expected to bring relief soon.
Kurdistan Region to Resume Oil Exports Next Week, says Iraqi Minister
Oil exports from the semi-autonomous Kurdistan region will resume next week, Iraq's oil minister said on Monday, resolving a near two-year dispute as ties between Baghdad and Erbil improve, potentially adding more supply to the oil market and weighing on prices.
Drone Strike Hits Russian Pipeline Pumping Station, Slowing Chevron, Exxon Exports
A drone strike has hit a pumping station on an oil pipeline in Russia, reducing flows from Kazakhstan to world markets pumped by Western firms including Chevron and Exxon Mobil, its operator said on Monday.
Tallgrass, Bridger Announce Open Season for Pony Express Pipeline
Tallgrass Pony Express Pipeline, LLC. (Pony Express) together with Bridger Pipeline, LLC (Bridger), have announced a new binding joint tariff open season for incentive tariff rates, utilizing existing Pony Express capacity, for shipper commitments for crude oil transportation from Bridger's Guernsey Hub.
U.S. Gulf Coast Refiners Pay Premium for Trinidad's Heavy Sour Molo Crude
Some U.S. Gulf Coast refiners have recently paid prices over the Brent crude benchmark for Trinidad and Tobago's Molo heavy sour crude, the CEO of the country's state-owned oil company, Heritage Petroleum, said on Tuesday.
Chevron Plans to Cut 15% to 20% of Global Workforce by 2026
Chevron will lay off 15% to 20% of its global workforce by the end of 2026, the U.S. oil company said on Wednesday as it seeks to cut costs, simplify its business, and complete a major acquisition.
QS Energy Nears Commercial Deployment of AOT Technology for Crude Pipelines
QS Energy Inc. is nearing a breakthrough in global energy transport. The company is in final talks for multi-year lease agreements that would deploy its Applied Oil Technology (AOT) in key regions, including Southeast Asia, the Pacific, and West Africa.
Iraq Approves Compensation Plan to Resolve Kurdistan Oil Dispute
Iraq’s parliament on Sunday approved a budget amendment to subsidize production costs for international oil companies operating in the semi-autonomous Kurdistan region in a move aimed at unblocking northern oil exports, lawmakers said.
Oil Falls as U.S. Crude Inventories Swell, Traders Worry About China-U.S. Trade Tensions
Oil prices fell more than 2% on Wednesday as a large build in U.S. crude and gasoline stockpiles signaled weaker demand, while worries about a new China-U.S. trade war fueled fears of softer economic growth.
Canada's Trans Mountain Expects More Interest in Pipeline System if U.S. Implements Tariffs
Canadian pipeline operator Trans Mountain said it expects to see increased interest to ship on its system if the United States slaps tariffs on Canadian oil imports in a month.
Senators Float Resolution to Overturn Biden Methane Fee Rule
U.S. Senate Republicans on Tuesday introduced a resolution to overturn the Biden administration's proposed fee on methane emissions, one of the previous Environmental Protection Agency's final measures to force big oil and gas producers to slash emissions of the powerful greenhouse gas.
Russia's February Oil Exports Revised Up 19% Amid Refinery Cuts
Pipeline operator Transneft has revised upwards plans for crude oil exports from Russia's western ports in February by 300,000 barrels per day (bbl/d) because of lower output from refiners, traders said and Reuters calculations showed.
China Hits Back at Trump with Tariffs on U.S. Crude Oil and LNG Imports
The trade in crude oil and liquefied natural gas between the United States and China is effectively dead after Beijing responded to President Donald Trump's tariffs with measures of its own.
Enterprise’s Big U.S. Oil Export Project Stalls on Lack of Buyers
Enterprise’s SPOT crude export project off Texas has stalled due to a lack of customer interest, with CEO Jim Teague citing regulatory delays and shifting oil flows. The company may shelve the project if demand doesn’t materialize.
Senate Confirms Chris Wright as Trump’s Energy Secretary
The U.S. Senate on Monday confirmed Chris Wright, a fracking executive, to be President Donald Trump's energy secretary.
India Allocates $647 Million for Strategic Oil Reserve Purchases
India will provide 55.97 billion rupees ($646.78 million) support for purchase of oil for the country's strategic petroleum reserves (SPRs), the budget document showed on Saturday.
Nigeria to Block Oil Exports for Producers Who Fail to Meet Refinery Quotas
Nigeria's upstream oil regulator said on Monday it would deny export permits for oil cargoes from producers who fail to meet their stipulated supply quota to local refineries, including the Dangote Refinery, Africa's largest.
Trump Puts Keystone XL Pipeline Back in Discussion, Though Revival Faces Developer Resistance
President Donald Trump’s recent executive order has revived discussions about the 1,200-mile Keystone XL pipeline, a long-debated oil project that has faced political and environmental scrutiny.
- 1,000-Mile Pipeline Exit Plan by Hope Gas Alarms West Virginia Producers
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Boardwalk’s Texas Gas Launches Open Season for 2 Bcf/d Marcellus-to-Louisiana Pipeline Expansion
- Traverse Pipeline Approved to Move 1.75 Bcf/d of Gas Along 160-Mile South Texas–Katy Route
- New Alternatives for Noise Reduction in Gas Pipelines
- Construction Begins on Ghana's $12 Billion Petroleum Hub, But Not Without Doubts
- DOE Considers Cutting Over $1.2 Billion in Carbon Capture Project Funding
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Newsom Seeks to Aid Struggling Refiners Following Valero’s California Exit
