Offshore Oil Wells, Ports Shut as Hurricane Sally Advances on U.S. Gulf
Energy companies, ports and refiners raced on Monday to shut down as Hurricane Sally grew stronger while lumbering toward the central U.S. Gulf Coast, the second significant hurricane to shutter oil and gas activity over the last month.The hurricane is disrupting oil imports and exports as the nation's sole offshore terminal, the Louisiana Offshore Oil Port (LOOP), stopped loading tanker ships on Sunday, while the port of New Orleans closed on Monday.The U.S.
Oil Prices Climb on Hopes of Deeper OPEC+ Production Cuts
Oil prices edged higher on Thursday as investors focused on the possibility of deeper supply cuts from the world's biggest producers, whilst largely shrugging off reports which cut demand forecasts after the coronavirus outbreak in China, the biggest oil importer.Brent crude was up 32 cents, or 0.6%, at $56.11 a barrel by 10:52 a.m. ET (1552 GMT), while U.S. West Texas Intermediate (WTI) was up 14 cents at $51.31 a barrel.The energy complex was led higher by U.S.
W. Africa Crude Traders Await Sept Programs
Some August-loading Angolan cargoes cleared but trading was slow on Monday as new programs were expected to emerge this week.The preliminary Angolan loading program for September is expected to emerge on Tuesday. New Nigerian programs are expected at the end of the week.BP's August-loading cargo of Girassol, two August-loading cargoes of Mostarda were sold to India's Reliance, China's Unipec and an independent Chinese refiner, a trader said.
Phillips 66 Says Alliance, Louisiana, Refinery Shuts After Incident
Phillips 66 on Friday said it began an unscheduled shutdown of its 249,700-barrel-per-day (bpd) Alliance, Louisiana refinery on Thursday as part an on-site emergency response involving a plant worker.* "Phillips 66 continues to work with local emergency responders, including the Plaquemines Parish Sheriff’s Office, to safely respond to the ongoing incident," the company said in an email.* The initial incident occurred at about 9:30 p.m.
Subtropical Storm Alberto's Landfall Expected Early Next Week
U.S. Gulf of Mexico producers and refiners are monitoring Subtropical storm Alberto, which is expected to make landfall between east Louisiana and the Florida panhandle early next week, the companies said on Friday. The National Weather Service on Friday predicted the storm would bring heavy rain to the central Gulf Coast region and the southeastern United States later this weekend and continue into early next week.
U.S. GoM Energy Producers Evacuating Ahead of T/S Nate
Oil and natural gas producers began evacuating staff at U.S. Gulf of Mexico platforms on Thursday ahead of Tropical Storm Nate, the second storm in as many months to threaten Gulf Coast oil and refining facilities. Nate, which has already killed three people in Costa Rica, according to local authorities, is forecast to scrape past Honduras and Mexico, enter the Gulf and strengthen into a hurricane before making landfall early on Sunday in Louisiana, near several major refineries.
Exxon Fined over Refinery Explosion
ExxonMobil Corp has been fined about $165,000 by U.S. regulators for safety lapses including inadequate training and equipment maintenance over an explosion that injured four workers at an aging Baton Rouge, Louisiana, refinery last year. U.S. Occupational Safety and Health Administration (OSHA) issued nine citations, several of which echo previous cautions by federal agencies at two other Exxon plants. The citations, issued in May, were seen by Reuters this month.
Fire at Phillips 66 Louisiana Refinery Out, No Injuries
A fire in a processing unit on Monday at Phillips 66's 260,000 barrel per day Lake Charles refinery in Louisiana, has been put out, an emergency management official said. No injuries were reported at the refinery, which is located in Westlake, Louisiana, according to a local official. It was not immediately clear in which unit the fire started. A representative for Phillips 66 did not immediately comment. Local media had earlier said that the fire broke out around midday.
Saudi Aramco, Shell to Break up, Divide Motiva Assets
Shell and Saudi Aramco on Wednesday announced plans to break up Motiva Enterprises LLC and divide up the assets, almost two decades after the U.S. oil refining and marketing joint venture was formed. Under the terms of a non-binding letter of intent, Saudi Aramco will retain the Motiva name, assume sole ownership of the Port Arthur, Texas refinery, the biggest in the United States, and retain 26 distribution terminals, according to a statement.
Marathon Petroleum Cancels Louisiana Refinery Upgrade
U.S. refiner Marathon Petroleum Corp said it would cancel a planned expansion project at its 522,000-barrel-per-day Garyville, Louisiana refinery. The company had said in February that it would defer the final investment decision on the project to convert residual fuel to diesel using hydrogen. The decision to scrap the residual oil upgrader (ROUX) is expected to cost Marathon Petroleum up to $2.5 billion and comes amid a slump in global crude oil prices.
Brent Up on Euro, Chinese Data
German exports, imports hit record highs in July; Asian, European equities rise. Brent oil rose on Tuesday as strong European economic data and a year-on-year increase in Chinese crude imports outweighed concerns about Asia's economic growth and global oil oversupply. German exports in July climbed 2.4 percent on the month and imports grew by 2.2 percent, both hitting their highest values on record.
Rail Oil Tankers, Victim of US Safety Rules, Also Unwanted in Canada
Thousands of oil train tankers soon to be deemed obsolete in the United States are unlikely get a second life in Canada's oil sands industry, undercutting a U.S. government forecast that the costly cars will continue in use in the energy sector. If thousands of obsolete tank cars are scrapped, it could add hundreds of millions of dollars to the cost of the proposal, industry officials said - unwelcome…
Exxon eyes expanding Texas refinery
Exxon Mobil Corp is considering a multi-billion-dollar plan to expand its Beaumont, Texas, refinery into the country's largest, the first major refining investment of the U.S. shale oil boom, people with knowledge of the deliberations said. The expansion of the 344,600 barrel-per-day (bpd) Beaumont refinery, if carried out, would be completed by 2020 and potentially double its size with the addition of a third crude distillation unit (CDU), the sources said.
Marathon Petroleum Garyville Refinery's Partial Shutdown
Marathon Petroleum's Garyville, Louisiana, refinery experienced a power outage after a storm that knocked out electricity for more than 1,000 residents, according to a local official. The area was issued a tornado warning at 5:30 a.m. and experienced heavy winds, said Paige Falgoust, communications director at the St. James Parish Emergency Preparedness Office. The refinery was partially shut, according to local media reports earlier.
