Oil

Lunate Acquires 40% Stake in ADNOC Pipeline Assets from BlackRock and KKR

Abu Dhabi investor Lunate said on Wednesday it had bought a 40% stake from private equity firms BlackRock and KKR in the entity that leases Abu Dhabi National Oil Company's (ADNOC) oil pipelines.

Canada's Indigenous Community Eye Big Energy Deals, Await Trudeau Loan Promise

Canada's First Nations are eyeing their biggest opportunities yet to invest in multi-billion-dollar energy projects such as pipelines, hinging on Prime Minister Justin Trudeau keeping a promise this spring to make the deals easier to finance.

Trans Mountain to Finish Final Segment of Oil Pipeline Expansion in April

Trans Mountain will finish building the final segment of its Canadian oil pipeline expansion in April, according to a construction schedule the corporation filed on Monday with a regulator.

SLB to Buy ChampionX for $8 Billion in Growing Deal-Making in U.S. Energy Sector

Top oilfield services company SLB said on Tuesday it will buy smaller rival ChampionX in an all-stock deal valued at $7.75 billion, amid growing consolidation in the North American energy sector.

ADNOC Cuts Upper Zakum Oil Exports Sharply After Diverting Supply to Refinery

Exports of Upper Zakum crude from the United Arab Emirates fell sharply in March after ADNOC diverted more supply to its own refinery and boosted shipments of its lighter Murban oil, according to traders, analysts and shipping data.

Kimmeridge Ready to Negotiate Proposed Offer for SilverBow After Rebuff

Kimmeridge Energy Management said on Monday it remained ready to engage with SilverBow Resources over its takeover bid, days after the U.S. oil and gas producer rejected the latest offer that valued it at $2.1 billion including debt.

XCL Resources Seeks FTC Approval for Altamont Energy Acquisition

The application seeks approval from the agency for its proposed acquisition of Altamont Energy, LLC, an oil and gas operator in Utah's Uinta Basin region.

API Releases New Standard for Public Engagement in Pipeline Operations

The standard, titled API Recommended Practice (RP) 1185, Pipeline Public Engagement, aims to foster proactive, inclusive, and collaborative communication throughout the lifecycle of pipeline construction and operation.

EnCap Investments Plans Sale of Utah Oil Producer XCL Resources, Sources Say

EnCap Investments is looking to sell XCL Resources, two years after the private equity firm's plan to combine the oil and gas producer with a local rival was thwarted by U.S. antitrust regulators.

Biden Administration Buys Oil for Emergency Reserve Above Target Price

The Biden administration on Wednesday awarded contracts to buy 2.8 million barrels of oil for the government's emergency reserve for more than $81 a barrel, $2 above the target purchase price.

New U.S. Rules Aim to Curb Leaks from Oil and Gas Drilling on Public Lands

The policy complements efforts the Biden administration has made at other agencies to reduce emissions of methane, a potent greenhouse gas that tends to leak from drill sites and pipelines.

Colonial Pipeline Freezes Nominations on Baltimore Section Amid Port Shutdown

The Colonial Pipeline Company on Tuesday paused nominations to ship fuel on cycles 15 and 16 on Line 32, which delivers products to its Curtis Bay facility in the port of Baltimore, according to a notice seen by Reuters.

EACOP Reaches Milestone with Commissioning of Coating Plant in Tanzania

In a significant step forward for the Uganda and Tanzania crude oil pipeline project, the East African Crude Oil Pipeline (EACOP) marked a notable achievement as it officially inaugurated its coating plant at Sojo, Nzega – Tabora Region in Tanzania.

Why Morocco Remains Keen on Pipeline Project with Nigeria

Morocco has re-affirmed its commitment to the construction of a new gas pipeline network along the West Africa coastline to promote intra-Africa natural gas trade, as well as to guarantee energy supplies to Europe.

Phillips 66 Explores Sale of Stake in 1,700-Mile REX Pipeline, Sources Say

U.S. oil refiner Phillips 66 is exploring a sale of its 25% stake in the Rockies Express Pipeline that it hopes could be worth more than $1 billion, including debt, people familiar with the matter said on Tuesday.

Elliott Accepts Phillips 66's Performance Goals, CEO Lashier Says

Activist investor Elliott Investment Management has accepted the performance improvement plan that U.S. oil refiner Phillips 66 laid out to boost shareholder returns and share price, Chief Executive Mark Lashier said in an interview on Tuesday.

Environmental Ruling Threatens Wyoming Oil and Gas Drilling Leases

The U.S. Bureau of Land Management did not adequately analyze the potential climate change and wildlife impacts of a major oil and gas lease sale covering roughly 120,000 acres of federal land in Wyoming, a U.S. judge has said.

Sudan War Causes Stoppages on South Sudan Oil Pipeline, Officials Say

The main pipeline carrying oil from South Sudan through Sudan for export has been suffering stoppages since last month due to problems linked to the war between Sudan's army and the Rapid Support Forces (RSF), according to three Sudanese officials.

Iraq, Oil Firms Trade Blame Over Shut Turkey Pipeline

Foreign oil firms operating in Iraq's Kurdistan region are partly to blame for the delay in resuming crude exports after failing to submit contracts for revision, Iraq's oil ministry said.

Common Challenges with Field-Applied Liquid Epoxy Pipeline Coatings

Coatings are an incredibly important part of maintaining safe pipeline operations and asset integrity, including being a first line of defense against corrosion and corrosion-induced failures.

Under-the-Radar SEC Land Grab Foiled by Public Scrutiny

In the weeks ending the year 2023 and those starting the one, a stealth part of the Biden administration’s green agenda with ramifications for the oil patch was sliding under the radar of most major fossil fuel organizations.

Coating Versatility Can Assist with Better Flow Efficiency

Corrosion control is an important factor when it comes to maintaining the integrity and safety of pipelines. Given the growing need for energy transportation it's crucial to shield pipelines from corrosion in order to ensure their longevity and prevent any leaks or failures.

U.S. Pipeline Firms Looking to Follow Biggest Customers into M&A Wave

U.S. energy pipeline and storage operators have spent two years watching the consolidation of oil and gas producers, and now they are gearing up for the merger wave to hit their sector, executives, investors, and analysts said.

Argentina's Vaca Muerta Shale Formation Drives Record Oil Production in February

Argentina's Neuquen province hit a record for daily oil production in February, aided by increased activity in the Vaca Muerta shale formation, the local government said on Friday.

U.S. Senators Move to Harden Ban on Selling Reserve Oil to China

Two U.S. senators introduced legislation on Thursday to harden the ban on selling crude oil from the Strategic Petroleum Reserve (SPR) to China.

Trans Mountain Pipeline Initiates Oil Filling Amid Final Construction Challenges

Canada's Trans Mountain Corp. has begun filling its pipeline expansion with oil in a staged process, a senior executive said on Wednesday, as construction of the long-delayed project nears an end.

Enbridge Plans 120,000 bpd Expansion for Gray Oak Texas Oil Pipeline by 2025

Energy pipeline company Enbridge plans to expand capacity on its Gray Oak oil pipeline by 80,000 barrels per day (bpd) this year and could add another 40,000 bpd in 2025, an executive told Reuters on Tuesday.

Trans Mountain Pipeline Expansion to Start Oil Shipments in June, Says Alberta Premier

Line fill of Canada's Trans Mountain crude oil pipeline expansion will be complete by the end of May, with the first waterborne exports from the expanded system starting a month later, Alberta Premier Danielle Smith said on Tuesday in an interview.

Pembina Receives Regulatory Approval to Acquire Enbridge's Interest in Joint Ventures

Pembina Pipeline said on Tuesday the Canadian Competition Bureau has approved its proposed $2.28 billion acquisition of Enbridge's interests in the Alliance, Aux Sable, and NRGreen joint ventures.

Saudi Aramco CEO Foresees Prolonged Oil Demand Growth Amidst Shipping Disruptions

Global oil demand will not peak for some time, so policy makers need to ensure sufficient investment in oil and gas to meet consumption and abandon the fantasy of phasing out fossil fuels, Saudi Aramco CEO Amin Nasser said on Monday.