Oil

LM Energy Launches Open Season to Extend Oil Gathering System in Northern Delaware Basin

The proposed extension of the system will gather crude oil from origination points in Eddy and Lea Counties, New Mexico and deliver to destination points also in Eddy and Lea Counties, New Mexico.

Uganda, Tanzania, Oil Firms Sign Accords to Build $3.5 billion Pipeline

Total's CEO said the pipeline is one of the largest projects they should develop on this continent, adding they expected oil production to commence in early 2025.

Aramco Agrees to $12.4 billion Deal to Sell Stake in Pipelines

Saudi oil producer Aramco has agreed a $12.4 billion deal to sell a 49% stake in its pipelines to a consortium led by U.S.-based EIG Global Energy Partners.

U.S. Army Corps Allows Dakota Pipeline to Stay Open During Review

The U.S. Army Corps of Engineers today said it will allow Energy Transfer's Dakota Access oil pipeline to keep running, after an environmental permit was scrapped last year.

U.S. Army Corps to Lay Out Plans for Dakota Access Pipeline Review at Hearing

The U.S. Army Corps of Engineers is expected to lay out its recommendations on the Dakota Access oil pipeline at a federal court hearing today that could involve shutting down the line for several months during an environmental review.

Oil Prices Fall Despite Stronger Economic Outlook

Oil prices eased on Wednesday after earlier gains despite prospects for stronger global economic growth as talks to revive a nuclear deal with Iran opened the possibility of an easing of sanctions on its oil exports.

Report Shows Oil Industry Jobs Pay More Than Wind, Solar Jobs

Workers in nuclear energy and fossil fuel industries earn higher wages than those in renewable energy sectors like wind and solar that are the focus of Biden's plan to stimulate the U.S. economy and combat climate change, according to an analysis.

Brookfield, BlackRock No Longer in Race For $10 billion Aramco Pipeline Stake

U.S. asset manager BlackRock and Canada's Brookfield Asset Management Inc are no longer in the race to buy a stake in Saudi oil giant Aramco's pipeline business, two sources familiar with the deal said.

Exxon Sues Energy Transfer Over Charges From Pipeline Dispute

Exxon Mobil Corp’s XTO Energy shale unit filed a breach of contract lawsuit against Energy Transfer LP over disputed payments for the Dakota Access Pipeline, according to a Texas state court filing.

Democrats Asking Biden to Shut Down Dakota Access Pipeline

A group of 33 Democratic congress members are named on a letter to President Joe Biden asking him to shut down the Dakota Access Pipeline while it undergoes a court-mandated environmental review.

Energy Transfer, Centurion Pipeline Agree on Crude Oil Transportation

Energy Transfer and Centurion Pipeline announced they will post a joint tariff for crude oil transportation service from ET’s terminals in Platteville, Colorado and Cushing, Oklahoma to ET’s Nederland, Texas terminal.

Pony Express Pipeline Announces Open Season for Transportation

Tallgrass Pony Express Pipeline, a subsidiary of Tallgrass Energy, announced a binding open season soliciting shipper commitments for crude oil transportation.

Russia's Transneft Posts 26% Fall in 2020 Net Profit

Russian oil pipeline monopoly Transneft's net profit fell by 26% last year to 133.2 billion roubles ($1.8 billion) as lower volumes of oil were transported amid global production cuts and the COVID-19 pandemic.

Suez Canal Steps Up Efforts to Remove Blockage as Shipping Rates Surge, Tankers Diverted

The Suez Canal stepped up efforts on Friday to free a giant stuck container ship and end a blockage that has sent shipping rates for fuel tankers soaring and disrupted global supply chains for everything from grains to baby clothes.

Egypt's SUMED Pitches Use of Pipeline as Suez Crisis Drags

Egypt's SUMED pipeline operator has approached oil traders to ask if they wanted to book their system to transport crude oil as a blockage of the Suez Canal by a container ship drags,

INEOS Energy to Sell Norwegian Oil and Gas Business to PGNiG for $615 million

INEOS Energy has agreed to sell its Norwegian oil and gas business to Poland's PGNiG Upstream Norway AS for $615 million.

Saudi Aramco Sends Request for Pipeline Deal Financing

Saudi Aramco has sent a request for proposals to banks for financing it wants to offer to investors looking to lease its pipelines, three sources said, a sign the oil giant is progressing with plans to extract value from its assets.

White House Climate Czar and Big Oil Meet, Talk Cooperation

Representatives from the oil and gas industry and national climate adviser Gina McCarthy struck a cooperative tone following a meeting where the two sides discussed how companies can align with the Biden administration's ambitious climate goals.

U.S. Drillers Add Most Oil & Gas Rigs in a Week Since January

U.S. energy firms added the most oil and natural gas rigs in a week since January even as oil prices this week pulled back from a recent 28-month high.

Brookfield Stays Committed to Hostile Inter Pipeline Takeover

Brookfield Infrastructure Partners said it is committed to its C$7.1 billion ($5.65 billion) hostile takeover offer for Inter Pipeline Ltd despite the pipeline company's board turning down the bid.

EnerMech Secures Five-Year Deal with Chevron Australia

Chevron Australia awarded global integrated solutions specialist EnerMech a five-year contract to provide a range of integrated services to its Western Australian oil and gas facilities.

Russia's Rosneft to Sell Southern Assets, Focus on Vostok Oil

Rosneft is selling its three southern oil assets and could complete deals for all three by the end of May as Russia's top oil company shifts focus to the giant northern Vostok Oil project.

Canada's Secure Energy to Buy Tervita as Oil Deals Speed Up

Canada's Secure Energy Services Inc said it would buy waste management services firm Tervita Corp in an all-stock deal valued at C$478 million ($379.5 million), the latest consolidation in the country's oil sector.

EIA Expects Crude to Average Near $50 Per Barrel Through 2022

The U.S. Energy Information Administration (EIA) expects global demand for petroleum liquids to be greater than global supply in 2021, especially during the first quarter, leading to inventory draws.

Canada’s Inter Pipeline Urges Shareholders to Reject Brookfield's Hostile Bid

Inter Pipeline Ltd asked shareholders to reject Brookfield Infrastructure Partners' hostile bid, saying the offer "significantly undervalues" the Canadian oil and gas transportation company.

Canadian Natural Resources Beats Profit Estimates

Canadian Natural Resources Ltd, Canada's biggest oil producer, beat analysts' estimates for fourth-quarter profit and forecast much stronger cash flow this year, as crude prices staged a steady recovery from pandemic-driven lows.

Oil Optimism Unwinding Market's Mad Dash for Storage

When the world economy slammed on the brakes last year, there was a rush to store a wave of unwanted crude and products, but rising prices and optimism about demand is spurring a swift unwinding of storage contracts.

Nigeria's Seplat Cutting Costs, Keeping Acquisitions on the Radar

Nigerian oil and gas company Seplat aims to cut costs and is looking out for acquisitions even after the crash in crude prices eroded its 2020 revenue.

Canada's Alberta Sees Budget Deficit Narrowing as Oil Prices Recover

The Canadian oil-producing province of Alberta estimated its 2021/22 budget deficit will shrink to C$18.2 billion ($14.5 billion), as its economy starts to recover from the damage caused by the coronavirus pandemic.

Max Midstream Launches Open Season on Seahawk Pipeline

Seahawk Pipeline, a subsidiary of Max Midstream, is developing a crude oil pipeline in the Eagle Ford area from its Edna Terminal to the Seahawk Terminal in the Port of Calhoun, Texas, and wants to gauge shipper interest, the company announced.