Minnesota Regulators Question Enbridge Pipeline Expansion
Commissioners on a Minnesota regulatory board questioned crude oil demand for Enbridge Inc's Line 3 pipeline on whether work can proceed on a proposed expansion of the line. Enbridge wants to replace the aging 1,031 mile pipeline that runs from Alberta to Wisconsin…
Retail Gasoline Prices Surge in Harvey's Choppy Wake
Nearly a quarter of U.S. refining capacity out; Motiva down for two weeks; Corpus Christi starts to reopen. Retail U.S. gasoline prices hit two-year highs and global shipping routes were scrambled as the nation's largest refiners remained shut on Friday…
Harvey's Rains Shut in More Refineries, Sending Fuel Prices Higher
U.S. fuel prices surged on Monday as two more Gulf Coast refiners cut output and a third considered reductions, leaving more than 13 percent of the country's refining capacity offline after Tropical Storm Harvey flooded plants and shut seaports.
Harvey Throws a Wrench into US Energy Engine
A hurricane in the heart of the U.S. energy industry is expected to upend years of U.S. excess oil capacity and low prices, with the impact expected to reverberate globally and affect energy markets for weeks. Harvey hit the Texas shore as a fierce Category 4 hurricane…
Oil Up as US Rigs and Refineries Brace for Hurricane
Oil prices rose on Friday as the U.S. petroleum industry braced for Hurricane Harvey, which could become the biggest storm to hit the U.S. mainland in more than a decade. Harvey became a category 2 storm as it crossed the Gulf of Mexico with winds of 110 mph (175 kph)…
US Refiners Tighten Belts as Golden Era Fades
U.S. independent oil refiners, such as Marathon Petroleum and Phillips 66, are shelving projects and tightening budgets, as a global glut of diesel and gasoline erodes profits, ending a golden era of high refining margins. For the past six years, U.S.
U.S. Refinery Clean Fuel Output Delays Come with Costs
U.S. refiners who are delaying compliance with new cleaner gasoline production rules could face soaring costs beginning next year as they scramble to find deadline-extending fuel credits in a tight market, industry experts warn. Larger U.S.
Bakken Players Need $55 for Viable Production
North Dakota needs an oil price of around $55 per barrel and a fleet of around 140 rigs to sustain production at the current level of 1.2 million barrels per day, the state's chief regulator told legislators yesterday. Department…
Koch Industries to Buy PetroLogistics for $2.1 bln
Propylene producer PetroLogistics LP said it will be taken private by a unit of Koch Industries Inc in a deal worth $2.1 billion, including debt. Flint Hills Resources LLC will pay $14.00 per in cash for each PetroLogistics unit, except for units owned by a few select investors.
Stabilis to Close Encana Natural Gas Acquisition
Combined Company to Be a Leading Provider of Liquefied Natural Gas Fueling Solutions to High Horsepower Engines. Stabilis Energy announced that it has closed its previously announced acquisition of substantially all of the U.S. based assets of Encana Natural Gas Inc. (ENGI).
