• State Department releases draft SEIS for latest Keystone XL route
    on September 25, 2018 at 5:29 pm

    The proposed Keystone XL crude oil pipeline’s Mainline Alternative Route in Nebraska “would have no significant direct, indirect, or cumulative effects on the quality of the natural or human environments,” the US Department of State said in a draft supplemental environmental impact statement (SEIS). […]

  • API: US petroleum demand in August reached 20.8 million b/d
    on September 25, 2018 at 5:24 pm

    According the latest monthly statistics report from the American Petroleum Institute, US petroleum demand in August, led by motor gasoline, distillate, and refinery feedstocks, increased to 20.8 million b/d, up 250,000 b/d from July. This was the strongest demand for any month since August 2007 and reflected solid economic growth, industrial activity, and consumer confidence, API said. […]

  • PHMSA rescinds ECP brake mandate for oil-laden unit trains
    on September 25, 2018 at 4:56 pm

    The US Pipeline & Hazardous Materials Safety Administration rescinded a requirement for unit trains carrying crude oil and other flammable substances to use electronically controlled pneumatic braking systems. PHMSA said it based its Sept. 24 action on a regulatory impact analysis that found the requirement’s expected costs would be more than its expected benefits. […]

  • Total increases share in Danish Underground Consortium
    on September 25, 2018 at 4:34 pm

    Total SA has agreed to purchase from Chevron Corp. all the share capital of Chevron Denmark Inc., which holds 12% interest in the Danish Underground Consortium (DUC), 12% interest in license 8/06, and 7.5% interest in the Tyra West pipeline. […]

  • W&T to spud second exploration well in Ewing Bank 910 field
    on September 25, 2018 at 3:56 pm

    W&T Offshore Inc. drilled an exploration well from the South Timbalier 311 platform in Ewing Bank 910 field in the deepwater Gulf of Mexico and will spud a second well in the field following its completion. Reaching total depth, the ST 320 A-2 logged 163 ft of net hydrocarbon, exceeding predrill estimates, W&T said. The well is expected to be on production via existing infrastructure before yearend. […]

  • MARKET WATCH: Brent crude prices jump more than $2/bbl
    on September 25, 2018 at 2:59 pm

    The Brent crude oil price for November jumped by more than $2 on the London market to settle above $81/bbl on Sept. 24, marking the highest Brent settlement since November 2014. For this year, it was the first time since May that Brent broke above $80/bbl. US light, sweet crude for November delivery jumped by $1.30 to settle above $72/bbl, marking its highest front-month level since early July. […]

  • OGCI sets first collective methane target
    on September 24, 2018 at 5:44 pm

    The Oil & Gas Climate Initiative (OGCI) set a target to reduce by 2025 the collective average methane intensity of its aggregated upstream gas and oil operations by one-fifth to below 0.25%, with the ambition to achieve 0.2%, corresponding to a reduction by one-third. […]

  • Marathon, Andeavor shareholders approve merger
    on September 24, 2018 at 5:20 pm

    Shareholders of both Marathon Petroleum Corp. and US independent Andeavor, formerly Tesoro Corp., have voted to approve the combination of the two companies to create the largest US refiner by capacity and one of the top five largest refiners globally. […]

  • CME Group to launch physical WTI Houston crude oil futures contract
    on September 24, 2018 at 5:13 pm

    CME Group will offer a new West Texas Intermediate Houston crude oil futures contract with three physical delivery locations on the Enterprise Houston system. Pending regulatory review, WTI Houston oil futures will be listed with and subject to the rules of the New York Mercantile Exchange, beginning with the January 2019 contract month. […]

  • MARKET WATCH: NYMEX oil price drops on slightly lower US rig count
    on September 24, 2018 at 2:53 pm

    The light, sweet crude oil prices for November rose modestly Sept. 21, settling above $70/bbl on the New York market for a third consecutive day before a weekend meeting of the Joint Ministerial Monitoring Committee (JMMC), representing nations coordinating oil supply. […]

  • API: US petroleum net imports increased strongly on falling exports
    on September 21, 2018 at 5:50 pm

    The US has reached a new record for crude oil production of 10.8 million b/d over the past 2 months, but petroleum exports decreased by 1.3 million b/d since June, according to a recent industry outlook for the third quarter from the American Petroleum Institute. The nation’s overall petroleum trade balance went from net imports of 2.9 million b/d in June to 4.54 million b/d in August. […]

  • Williams completes construction of Atlantic Sunrise gas line
    on September 21, 2018 at 4:58 pm

    Williams Cos. has completed construction of its 1.7-bcfd, 200-mile Atlantic Sunrise natural gas pipeline, which is ready to be placed into service pending final approval from the US Federal Energy Regulatory Commission. The company requested such approval Sept. 19. […]