Russian Oil Majors Examine Assets for Cuts
Russian oil companies are examining which wells they will cork, looking mainly at mature fields where production was falling anyway and as Moscow needs to deliver its biggest output cut ever to comply with the new global supply deal, sources said.The Organization of the Petroleum Exporting Countries and other oil nations including Russia…
MWV Expects Druzhba Shipments Within Days
German oil industry lobby group MWV expects German refineries to receive shipments of clean Russian oil through the Druzhba pipeline via Belarus and Poland within the next several days, a spokesman said on Tuesday.The spokesman for the Berlin-based association (Mineraloelwirtschaftsverband), that represents 14 companies, 17 refinery sites and 10 oil pipelines…
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…
Petrobras Seeks Partnerships
Petrobras informs that it has started the disclosure stage of two divestment opportunities (Teasers) related to the sale of its interest in refining and logistics in Northeast and South regions of Brazil. Petrobras intends to sell 60% of its equity interest in each of these new companies. Two subsidiaries will be set up for each region.
Iraq Preparing to Tender Water Injection Project if Exxon Talks Fail
Iraq's Basra Oil Co is preparing to tender for a water injection project vital to increase its oil production capacity if talks with Exxon Mobil fail, the head of the oil ministry's licensing and contracts office said. "We cannot wait for a longer time unless Exxon Mobil accepts the deal for the benefit of the two parties," Abdul Mahdi…
Texas Flood: U.S. Oil Pours into Global Markets
United States taking share from OPEC nations in Asia, Europe, as China’s biggest U.S. crude buyer to double imports. In the two years since Washington lifted a 40-year ban on oil exports, tankers filled with U.S. crude have landed in more than 30 countries, ranging from massive economies like China and India to tiny Togo. The repeal has unleashed a flood of U.S.
Poland to Expand Oil Pipelines as it Diversifies Supplies
Poland's government approved a plan on Tuesday to build more pipelines to help Warsaw take more oil deliveries from sources other than its biggest supplier Russia. Poland imports most of the oil it refines from Russia through the eastern part of a pipeline known as "Friendship", running from the border with Belarus to a refinery in Plock, central Poland.
U.S. DoJ to Prosecute Energy Activist Vandals
The U.S. Department of Justice on Friday pledged to prosecute protesters who damage energy infrastructure in a move that could escalate tensions between climate activists and the administration of President Donald Trump. The DOJ said it was committed to vigorously prosecuting those who damage "critical energy infrastructure in violation…
Phillips 66 Partners to buy Phillips 66 Assets
Phillips 66 Partners LP said on Friday it would buy assets from refiner Phillips 66 in a deal valued at $2.4 billion, including debt. Phillips 66 Partners said it would buy a 25 percent interest in each Dakota Access and Energy Transfer Crude Oil pipelines and a 100 percent interest in Merey Sweeny LP fuel-grade coke processing unit. Reporting by John Benny
U.S. Crude Rises, Gasoline Falls as Refineries Recover
Several U.S. refiners, pipelines reopen after Harvey; 1 pct of U.S. refining capacity remains offline. U.S. oil prices rose on Tuesday and gasoline fell as the gradual restart of refineries in the Gulf of Mexico that were shut by Hurricane Harvey raised demand for crude and eased fears of a fuel supply crunch. Gasoline futures dropped 4 percent from their last close, to $1.68 per gallon, down from $2.17 on Aug.
Andeavor to buy Western Refining Logistics
U.S. pipeline operator Andeavor Logistics LP said on Monday it would buy rival Western Refining Logistics LP for $1.5 billion as it seeks to expand into the Permian Basin in Texas and New Mexico. Western Refining unitholders will receive 0.5233 Andeavor Logistics units for each Western Refining unit. The deal values each Western Refining unit at $25.28…
Polish Oil Pipeline Back Online after Short Interruption
Crude oil flows through the pipeline supplying PKN Orlen's Plock refinery, the biggest in Poland, have been restored after a leak caused by illegal tapping, pipeline operator PERN said on Tuesday. The illegal tapping took place on Monday morning in the village of Trutnowy, northern Poland, but flows were restored on Monday afternon, a PERN spokeswoman said.
Canada Mulls Single Body to Assess Pipelines
Canada needs a single federal authority to assess the potential impact of major projects such oil pipelines and mines, a move that could help quell environmental protests, an official panel said on Wednesday. Responsibility for examining the potential impact of projects on federally-regulated land in Canada is shared between three separate entities…
McDermott bags Middle East pipelay contract
McDermott International, Inc. was awarded an offshore pipelay contract in the Middle East. The pipelay contract includes the engineering, procurement and installation of two oil pipelines offshore. Work on this contract is expected to be completed by the end of the second quarter in 2018. “This contract marks another example where our…
Canada Oil Spill Came from Tundra Pipeline
The president of Tundra Energy Marketing Ltd on Wednesday confirmed its pipeline as the source of a leak of some 200,000 liters (52,834 gallons) of crude oil onto aboriginal land in Saskatchewan that was discovered by a member of the community last week. "TEML continues to work closely with the Ocean Man First Nation community and regulatory authorities to complete the cleanup and repairs…
Trump Energy Policy Unlikely to Have Big Impact on CO2 Fight
Changes to U.S. energy policies under new President Donald Trump are unlikely to have a big impact on global action to curb a rise in greenhouse gas emissions, oil major BP's chief economist said on Wednesday. On Tuesday, Trump signed orders to smooth the path for the Keystone XL and Dakota Access oil pipelines in a move to expand energy infrastructure and roll back key Obama administration environmental decisions.
Pipeline Opponents Face High Legal Hurdles
Opponents of two controversial oil pipelines face a long and difficult legal path if the U.S. government approves their construction, experts said after the Trump administration issued orders on Tuesday intended to advance the Keystone XL and Dakota Access projects. U.S. President Donald Trump issued a pair of memoranda to several agencies paving the way to revive Keystone XL…
Crews Seek Source of Saskatchewan Oil Spill
The oil spill clean up on an aboriginal reserve in western Canada continued on Tuesday as crews prepared to excavate the site to determine the source of the leak, the provincial government said. A pipeline in the province of Saskatchewan leaked 200,000 liters (52,834 gallons) of oil last week, according to the government, which was notified of the leak on Friday.
Trump Signs Orders Advancing Keystone, Dakota Pipelines
U.S. President Donald Trump signed orders on Tuesday smoothing the path for the controversial Keystone XL and Dakota Access oil pipelines, rolling back key Obama administration environmental actions in favor of expanding energy infrastructure. While oil producers in Canada and North Dakota are expected to benefit from a quicker route for crude oil to U.S.
Refiners Shun New Canadian Crude Blend
Enbridge Inc has approved a new stream of heavy Canadian crude for export on one of its major oil pipelines to the United States, according to four trading sources. The only problem? No one wants it. Canada produces more heavy than light crude because of its vast oil sands projects in northern Alberta. Space on the Enbridge system for heavy barrels is in short supply…
