Exxon has secured over 271,000 acres of land in Texas waters to capture CO2 offshore
Exxon Mobil announced on Thursday that it had acquired state leases covering over 271,000 acres of Texas state waters to conduct an offshore CO2 capture operation. Exxon won the lease from the Texas General Land Office after it bid in 2021 for federal land near the Texas coast to capture CO2, and then emerged as the highest bidder in 2023 for 69 blocks of shallow water in the U.S. Gulf of Mexico, in order to expand its carbon storage area.
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…
Sentinel Secures Commitments for Offshore Crude Terminal
Sentinel Midstream LLC has secured shipper commitments needed to move forward on a proposed $1 billion crude export terminal off the Texas coast, the company's chief executive said on Wednesday.The firm's Texas GulfLink project is one of eight proposed U.S. deepwater export projects seeking to load supertankers that carry up to 2 million barrels of crude. Sentinel last week became the…
US Oil Exports to India Soar Ahead of Iran Sanctions
U.S. crude oil exports to India hit a record in June and so far this year are almost double last year's total as the Asian nation's refiners move to replace supplies from Iran and Venezuela in a win for the Trump administration.U.S. President Donald Trump's administration has been pressuring its allies to cut imports of Iranian goods to zero by November and India's shift advances the U.S.
Keystone's Spill Assessment Scrutinized
TransCanada Corp's existing Keystone pipeline has leaked substantially more oil, and more often, in the United States than indicated in risk assessments the company provided to regulators before the project began operating in 2010, according to documents reviewed by Reuters. The Canadian company is now seeking to expand the pipeline system linking Alberta's oil fields to U.S. refineries with its proposed Keystone XL project, which has U.S. President Donald Trump's backing.
Kinder Morgan Q3 Revenue Dips on Harvey Impact
Pipeline operator Kinder Morgan Inc reported a 1.5 percent fall in quarterly revenue, partly due to the impact of Hurricane Harvey. In August, Harvey hit the Texas shore as a fierce Category 4 hurricane, causing massive flooding, which knocked out 11 percent of U.S. refining capacity, a quarter of oil production from the U.S. Gulf of Mexico, and closed ports all along the Texas coast.
US Gasoline Prices Climb as Refineries Gradually Restart
U.S. retail gasoline prices climbed Tuesday, even as oil refineries rumbled back into service after Hurricane Harvey disrupted operations along the Texas coast. The average gasoline price was $2.648, 30.2 cents higher than a month ago, according to motorist advocacy group AAA. Gasoline prices normally retreat after the U.S. Labor Day holiday weekend. Benchmark U.S. gasoline futures fell more than 3 percent, however, as refineries restarted. U.S.
Harvey Hurts Crude Rebalancing, Also Creates 'Opportunity'
Crude oil's flirtation with backwardation has been hit by the market dislocations caused by Hurricane Harvey, the massive storm that is disrupting the U.S. crude oil import, export and refining hubs along the Gulf of Mexico coast. Two weeks ago the Brent crude futures curve was backwardated, with the front-month contract commanding a premium over the following four months. But by the close on Wednesday…
Harvey Likely to Linger off Texas Coast
The center of Tropical Storm Harvey is likely to remain just off the coast of Texas through Tuesday night before moving inland over the northwestern Gulf of Mexico on Wednesday, the U.S. National Hurricane Center (NHC) said. The storm is not expected to further intensify before its center crosses the coast again within 36 hours or so, the NHC said. Harvey is now located about 135 miles (220 km) south-southwest of Port Arthur…
U.S. Midwest Refiners Profit as Harvey Hits Rivals
U.S. refiners in the Midwest will be among the biggest winners after Hurricane Harvey dealt a blow to their competitors on the U.S. Gulf Coast. Refiners such as PBF Energy and HollyFrontier that are not hit by Harvey are on course for their best quarter in two years amid fears of fuel shortages that helped push profit margins for making gasoline up as much as 21 percent on Monday <RBc1-CLc1>. The U.S.
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, causing massive flooding that knocked out 11.2 percent of U.S. refining capacity, a quarter of oil production from the U.S. Gulf of Mexico, and closed ports all along the Texas coast.
US Ready to Release Emergency Oil if Needed
The U.S. Department of Energy said on Friday it stands ready to release crude oil from the nation's emergency stockpile if needed due to the impacts of Hurricane Harvey, which is bearing down on the Texas coast. "The Department of Energy stands ready to provide assistance as deemed necessary, to include any release of the Strategic Petroleum Reserve," spokewoman Shalyn Hynes said in a emailed statement.
Residents Flee South Texas Ahead of Harvey
Residents fleeing most powerful storm on U.S. mainland since 2005. Businesses closed and lines of cars streamed out of coastal Texas as officials called for residents to evacuate ahead of Hurricane Harvey, expected to arrive about midnight as the most powerful storm to hit the U.S. mainland in more than a decade. The hurricane is forecast to slam first near Corpus Christi, Texas, drop…
U.S. Drillers Cut Rigs ahead of Hurricane - Baker Hughes
U.S. energy firms cut oil rigs for a second week in a row ahead of Hurricane Harvey and as a more than year-long recovery in drilling slows down in reaction to soft crude prices. Drillers cut four oil rigs in the week to Aug. 25, bringing the total count down to 759, General Electric Co's Baker Hughes energy services firm said in its report on Friday. That compares with 406 active oil rigs during the same week a year ago.
Hurricane Harvey Strengthens, Threatens US
Hurricane Harvey intensified early on Friday into potentially the most powerful hurricane to hit the U.S. mainland in more than a decade, as authorities warned locals to shelter from what could be life-threatening winds and floods. Harvey is set to make landfall late Friday or early Saturday on the central Texas coast where Corpus Christi and Houston are home to some of the biggest U.S. refineries.
Statoil Evacuating Eagle Ford Staff ahead of Hurricane Harvey
Statoil ASA said on Thursday it is evacuating staff from the Eagle Ford shale region as Hurricane Harvey moves closer to the Texas coast. The Norway-based oil producer is securing its two drilling rigs in the shale region and will close wells on a case-by-case basis depending on flooding risk, though the company's goal would be to not close a well, said spokesman Erik Haaland. (Reporting by Ernest Scheyder; Editing by Paul Simao)
Oil Firm Evacuate Workers as Storm Approaches Texas
Oil companies evacuate workers as storm takes aim at Texas. Royal Dutch Shell, Anadarko Petroleum and Exxon Mobil announced they were curbing some oil and gas output on Wednesday at facilities in the Gulf of Mexico ahead of a storm expected to hit the Texas coast later this week. The U.S. National Hurricane Center (NHC) issued a hurricane watch Wednesday for much of the Texas coast, calling for slow-moving Tropical Depression Harvey to intensify as it nears landfall.
BOEM to Hold Western GoM O&G Lease Sale
On Wednesday, August 24, 2016, the Bureau of Ocean Energy Management (BOEM) will conduct a lease sale offering 23.8 million acres in federal waters offshore Texas for oil and gas exploration and development. Lease Sale 248, which offers all unleased and non-protected areas in the Western Gulf of Mexico Planning Area, will be livestreamed to the public via the BOEM website at ww.BOEM.gov or via livestream at https://livestream.com/BOEMGOMR/WPASale248.
Oil Tankers Queueing in US Gulf Seen as New Symbol of Glut
A traffic jam of oil tankers has emerged along the U.S. Texas coast this month, a snarl that some traders see as the latest sign of an unyielding global supply glut. More than 50 commercial vessels were anchored outside ports in the Houston area at the end of last week, of which 41 were tankers, according to the Houston Pilots, an organization that assists in the navigation of larger vessels in and around port areas.
Tropical Storm Bill Pelts Texas Coast
Tropical Storm Bill punched the Texas coast with heavy rains and strong winds on Tuesday, the National Weather Service said, just three weeks after floods killed about 30 people in the state. The second named tropical storm of the 2015 Atlantic hurricane season made landfall near Matagorda, a sportfishing town near the South Texas Nuclear Generating Station in Bay City, a coastal nuclear power plant.
