How Much Oil Does the EU Import from Russia?
The European Union has agreed to ban the bulk of imports of Russian crude and oil products in its latest round of sanctions following Moscow's invasion of Ukraine.The ban on seaborne crude imports will be phased in over six months and for seaborne refined products over eight months. It excludes deliveries via the Druzhba oil pipeline which supplies refineries in Eastern Europe and eastern Germany.Yet many European buyers have voluntarily suspended purchases of Russian oil or announced plans to phase it out…
Williams Inks Deal for Whale Deepwater Transport Services
Williams (NYSE: WMB) reached an agreement with Shell Offshore Inc. and Chevron U.S.A. Inc. to provide offshore natural gas gathering and crude oil transportation services as well as onshore natural gas processing services for the Whale development located approximately 10 miles from the Shell-operated Perdido host facility.Williams plans to expand its existing Gulf of Mexico offshore infrastructure via a 25-mile gas lateral pipeline build from the Whale platform to the existing Perdido gas pipeline and a new 125-mile oil pipeline to the existing Williams-owned GA-A244 junction platform.
Biden Announces Return to Global Climate Accord, New Curbs on US Oil Industry
U.S. President Joe Biden on Wednesday announced America's return to the international Paris Agreement to fight climate change, the centerpiece of a raft of day-one executive orders aimed at restoring U.S. leadership in combating global warming.The announcements also included a sweeping order to review all of former President Donald Trump's actions weakening climate change protections, the revocation of a vital permit for TC Energy's Keystone XL oil pipeline project from Canada, and a moratorium…
Enterprise Offers Crude Shipments From Gulf Coast to Cushing
Enterprise Products Partners LP said it would offer spot shipments of crude on an existing pipeline from the U.S. Gulf coast to Cushing, Oklahoma, the delivery point for benchmark U.S. crude futures, as demand to store oil inland surges.The move marks a sharp reversal from recent pipeline projects that were all built connecting inland markets to the Gulf Coast as U.S. crude exports climbed to record highs after Washington lifted a ban in late 2015.However, the coronavirus pandemic has crushed global oil demand and dented U.S.
Russia Leads E&P Race in Arctic Region
Russian and Norwegian exploration and production (E&P) operators have been expanding their operations in the Arctic continental shelf, which is estimated to hold vast deposits of hydrocarbons and rare earth minerals.Warming temperatures in the Barents Sea and northern coastline of Russia are giving an added impetus to resource development in this region, according to GlobalData.GlobalData's report, ‘Arctic Exploitation’, discusses how Russia is keen on hydrocarbon appraisal and development…
Transneft Settles Oil Contamination Claims
Russian and Kazakh oil pipeline operators have signed an agreement finalizing compensation to Kazakh producers whose crude was tainted in the Russian pipelines this year, Kazakhstan's KazTransOil said on Monday.KazTransOil did not announce the total sum of compensation being paid by Russia's Transneft to 38 Kazakh companies for about 700,000 tonnes of crude.(Reporting by Mariya Gordeyeva; Writing by Olzhas Auyezov; Editing by Tom Hogue)
Keystone Pipeline Still Closed, ND Leak Source Unclear
The precise source of a leak on TC Energy Corp's Keystone oil pipeline in North Dakota has not yet been identified, a spokesman for the U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA) said on Monday.There is no estimated timeline for restart of the pipeline and the company is continuing excavation work to isolate the affected part of the pipeline, the spokesman said by phone.Clean-up crews in Walsh County, North Dakota, have been working to plug the Keystone pipeline after a more-than 9…
Russian Oil Output Down in October
Russia lowered its oil output to 11.23 million barrels per day (bpd) last month from 11.25 million bpd in September, missing again its obligations under a global pact to curb production, energy ministry data showed on Saturday.The Organization of the Petroleum Exporting Countries, Russia and other producers - a group known as OPEC+ - have since January implemented a deal to cut oil output by 1.2 million barrels per day to support the market.According to Reuters calculations, which use a tonnes/barrel ratio of 7.33…
TC Energy: North Dakota Spill Shutters Keystone pipeline
Oct 30 (Reuters) - TC Energy Corp said on Wednesday it is shutting its Keystone crude pipeline after a late Tuesday oil spill in North Dakota.The company said it detected a drop in pressure on Tuesday night on its 590,000-barrel-per-day (bpd) Keystone oil pipeline system from Canada, it said in a statement, without specifying the exact impact on operations."TC Energy immediately began the process to shut down the pipeline, activated its emergency response procedures and dispatched ground technicians to assess the situation…
Iran building oil pipeline to terminal outside Gulf
Iran is building a $1.8 billion oil pipeline to its port of Jask outside the mouth of the Gulf, the country's oil minister said, as part of plans to protect its exports against potential problems in the region and to boost shipments of Caspian oil.Iran has been planning since at least 2012 to set up the terminal on the Gulf of Oman, just outside the Strait of Hormuz.Tehran has threatened to block the vital Gulf oil shipping route during its standoff with the United States, after Washington last year withdrew from Iran's 2015 nuclear deal with world powers and reimposed sanctions…
Flooding Disrupts U.S. Gulf Coast Energy Operations
Energy infrastructure on the U.S. Gulf Coast was hit hard by Tropical Storm Imelda on Thursday, as flooding forced a major refinery, a key oil pipeline, terminals and a ship channel in Texas to shut, according to sources familiar with operations.Torrential rain has inundated the Gulf Coast from Houston to western Louisiana for a second straight day. The National Hurricane Center forecast the storm could drop up to 40 inches (102 cm) of rain along the southeastern coast of Texas through Thursday night.Ship pilots stopped boarding vessels on the Beaumont…
Energy Transfer to Buy SemGroup
Oil and gas pipeline company Energy Transfer LP said on Monday it would buy smaller rival SemGroup Corp for $1.35 billion and build a 75-mile oil pipeline to strengthen its oil transportation, terminalling and export operations.Energy Transfer will gain control of SemGroup's crude oil terminal on the Houston Ship Channel, and to connect it with its Nederland, Texas terminal, Energy Transfer said it will construct a pipeline between the two terminals.Energy Transfer will also add SemGroup's crude oil gathering assets in the DJ Basin in Colorado and the Anadarko Basin in Oklahoma and Kansas, as well as crude o
TC Energy: Order Blocking Keystone XL Pipeline Lifted
TC Energy Corp's long-delayed Keystone XL oil pipeline took a small step forward this week, after a U.S. court overturned an injunction that barred certain work on the project, the company said.The company, which also reported a better-than-expected quarterly profit on Thursday, has been working for more than a decade to build the controversy-ridden 830,000 barrel per day (bpd) pipeline.KXL would run from an oil hub at Hardisty, Alberta, to Steele City, Nebraska, where it would join TC Energy's existing Keystone pipeline system.TC Energy…
Enterprise, Chevron to Build Offshore Port
Pipeline operator Enterprise Products Partners signed long-term agreements with Chevron Corp to develop Enterprise’s Sea Port Oil Terminal (SPOT) in the Gulf of Mexico.The American midstream natural gas and crude oil pipeline company said in a release that its SPOT project consists of onshore and offshore facilities, including a fixed platform located approximately 30 nautical miles off the Brazoria County, Texas coast in approximately 115 feet of water.SPOT is designed to load Very Large Crude Carriers (VLCCs) at rates of approximately 85…
Rosneft Cuts Oil Output
Russia's largest oil producer Rosneft said on Tuesday its oil production had declined due to a decision by oil pipeline monopoly Transneft to reduce intake of oil due to a contaminated oil issue.It said Transneft had imposed a "significant" cap on oil intake from Rosneft's Yuganskneftegaz subsidiary.(Reporting by Vladimir Soldatkin and Olesya Astakhova; editing by David Evans)
Michigan Sues to Shut Down Enbridge Oil Pipeline in Great Lakes
The U.S. state of Michigan has filed a lawsuit asking for an Enbridge Inc oil pipeline that runs under the Straits of Mackinac in the Great Lakes to be decommissioned, a statement from Michigan's attorney general said on Thursday.The lawsuit says Enbridge's continued operation of the underwater portion of Line 5 under an easement granted in 1953 violates the public trust doctrine, is a common law public nuisance, and violates the Michigan Environmental Protection Act because it is likely to cause pollution impairment and destruction of water and other natural resources.
US Oil Production Up, Needs More Pipelines
The rising domestic crude oil production in the United States has created a need for more pipeline capacity, revealed the US Energy Information Administration (EIA).EIA recently launched a new liquids pipeline projects database that tracks more than 200 crude oil, hydrocarbon gas liquids (HGL), and petroleum products pipeline projects."Rising domestic crude oil production has led to several changes in Gulf Coast crude oil supply and demand patterns, creating a need for more pipeline capacity…
Adnoc Signs USD4bln Pipeline Deal
Abu Dhabi State-Owned Oil Company Adnoc has sealed a $4 billion midstream pipeline infrastructure deal with BlackRock, the world's largest asset manager, and private equity firm KKR & Co.The Middle East national oil company said that the transaction includes the creation of Adnoc Oil Pipelines, which will lease Adnoc's interest in 18 pipelines and give rights to transport crude and condensates from Adnoc's onshore and offshore concessions over 23 years.BlackRock and KKR will form a consortium to hold a 40% stake in Adnoc Oil Pipelines…
TransCanada Restarts Portion of Keystone Pipeline
TransCanada Corp restarted a section of the Keystone oil pipeline on Tuesday, following a leak in Missouri earlier this month, company spokesman Terry Cunha said.TransCanada had shut an arm of Keystone from Steele City, Nebraska to Patoka, Illinois on Feb. 6 after a 43-barrel leak. The shut-down restricted the flow of Western Canadian crude to U.S. refineries.Reporting by Rod Nickel
Partial Shutdown of Keystone Oil Pipeline
A shutdown of a portion of TransCanada Corp's Keystone oil pipeline will last a further "days not weeks," following a leak in Missouri last week, crude producer Cenovus Energy said on Wednesday.Citing a conversation with TransCanada, Cenovus executive vice-president of downstream, Keith Chiasson, said the pipeline company has identified the location of the leak and is working on a repair plan.The 43-barrel leak caused TransCanada to shut an arm of Keystone from Steele City, Nebraska to Patoka, Illinois.
