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.
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…
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…
Oil Production Starts at Yaro-Yakhinskoye
PAO NOVATEK announced Thursday that commercial crude production has begun at the Yaro-Yakhinskoye field developed by Arcticgas, a joint venture between NOVATEK and Gazprom Neft.The field’s crude oil production capacity is estimated at 1.2 million tons per annum.NOVATEK’s Chairman of the Management Board Leonid Mikhelson said, “The launch of the crude oil program at Arctigas’ Yaro-Yakhinskoye field will make a significant contribution to the company's liquids production growth.”To start crude oil production…
US Sees Little Impact from Keystone XL Pipeline's Planned Route
The Keystone XL crude oil pipeline project cleared a hurdle on Monday as the Trump administration said in a draft environmental assessment that an alternative route through Nebraska would not do major harm to water and wildlife.The State Department's assessment of a plan for an alternative route through Nebraska submitted by TransCanada Corp, the company trying to complete the pipeline, said Keystone XL's cumulative effects would be "minor to moderate" on issues including water and biological resources.It said the pipeline would have only minor impacts on cultural resources…
Middle East Oil & Gas Shipping Routes are at Risk
Saudi Arabia said on Thursday it was suspending oil shipments through the Red Sea after Yemen's Iran-aligned Houthis attacked two crude tankers, underscoring risks caused by the conflict in the world's top oil exporting region.Iran, in its row with the United States over sanctions, has also threatened to block the Strait of Hormuz, the other major strategic shipping route for oil from the region and the main route for Iranian crude exports.Below are facts about region's shipping routes:Bab al-MandebAny move to block the Bab al-Mandeb…
Canada Government to Give Briefing on Pipeline Expansion Aid
The Canadian government will give a 9 am ET (1300 GMT) briefing on Tuesday on how it has decided to aid a Kinder Morgan Canada Ltd crude oil pipeline project, an official said. Ottawa says it is prepared to financially backstop the planned expansion of the company's Trans Mountain pipeline, which has run into fierce opposition. Reporting by David Ljunggren
ETP Eyes New Crude Pipeline from Permian Basin to Nederland, Texas
Energy Transfer Partners LP is considering constructing a new crude oil pipeline from the Permian basin in Texas to Nederland, Texas, a company executive said on a fourth-quarter earnings call on Thursday. The company said it was "aggressively pursuing a larger project" without giving specific details. Energy Transfer Partners said it brought Phase 1 of its Permian Express 3 pipeline online in the fourth quarter, with additional volumes expected to come online later this year. The company said it is also evaluating an additional 200,000 barrels per day (bpd) expansion on the line.
Libyan Pipeline Blast Reported Near Es Sider
There has been an explosion at a Libyan crude oil pipeline that feeds the Es Sider sea terminal, a Libyan oil source said on Tuesday. The blast happened near Marada, the source said, adding that the pipeline belonged to the Waha oil company. No more details were immediately available. Reporting by Ayman al-Warfalli
Ineos Awaiting Parts for Forties Pipeline Repairs
Ineos, the operator of Britain's Forties crude oil pipeline in the North Sea, was moving forward with a preferred repair option and the timeframe to fix a crack remained unchanged, the company said on Tuesday. The system, which carries around 450,000 barrels per day of Forties crude to Britain, along with a third of the UK's total offshore natural gas output, has been closed since Dec. 11 after a crack was found. "The timescale stays the same - two to four weeks from the 11th," Ineos spokesman Richard Longden said, adding that the crack was still stable.
INEOS Sticks With Forties Repair Estimate
Assessment of the damage to the Forties crude oil pipeline in the North Sea is ongoing a week after the system closed down, operator INEOS said on Monday, adding that it still expected repair work to take between two and four weeks. The system, which carries around 450,000 barrels per day of Forties crude to Britain, along with a third of the UK's total offshore natural gas output, has been closed since last Monday after a routine inspection revealed a crack in an onshore section of the pipe.
Forties Pipeline Outage Benefits U.S. Exporters
The shutdown of Britain's largest crude oil pipeline is an early Christmas gift to U.S. exporters shipping to Asia, and a complication for Middle Eastern and African producers seeking to maintain market share in the world's top importing region. The Forties Pipeline System, which carries about 450,000 barrels per day (bpd) from the North Sea to Scotland, may be closed for several weeks for unscheduled repair work, operator Ineos said on Monday. Forties crude is the largest of the five North Sea crudes that make up the dated Brent price benchmark.
Kenya Plans $1 Bln Dual Listing of National Oil Corp
Kenya plans to raise $1 billion by listing its National Oil Corporation at home and on the London Stock Exchange by early 2019, to buy a share of two oil blocks held by Tullow and its partners, a senior government official said on Wednesday. The East African country discovered oil in 2012 and full production is expected in 2021 after the completion of a $2.1 billion crude oil pipeline linking the oil fields with the proposed port of Lamu on the Indian Ocean Coast. "We need to raise money for our back-in rights…
TransCanada to Restart Keystone Pipeline on Nov. 28
TransCanada Corp will restart its Keystone crude oil pipeline at reduced pressure on Tuesday after getting approval from U.S. regulators, the company said on Monday. Calgary-based TransCanada shut down the 590,000 barrel-per-day pipeline, one of Canada's main crude export routes, on Nov. 16 after 5,000 barrels of oil leaked in South Dakota. Keystone carries crude from Alberta's oil sands to U.S. refineries. The company said its repair and restart plans were reviewed by the U.S.
ADNOC to Raise $2.25 Bln Pre-IPO Loan for Distribution Unit
Abu Dhabi National Oil Company (ADNOC) plans to raise a $2.25 billion loan for its distribution unit prior to selling a stake of up to 20 percent in the unit in an initial public offering (IPO), sources familiar with the matter said. The loan is the latest of a number of fundraisings that state-owned ADNOC, which manages almost all of the proven oil reserves in the United Arab Emirates, is carrying out as part of an overhaul of its capital structure. On Monday, ADNOC said it might sell as much as a 20 percent stake in ADNOC Distribution…
Iraq's Luaibi to Reopen Pipeline to Turkey
Iraq plans to reopen a crude oil pipeline from the Kirkuk oilfields to Ceyhan in Turkey, the oil ministry said in a statement on Tuesday, a route partly still in use by the Kurdistan Regional Government (KRG). Iraq largely stopped sending oil through the Kirkuk-Ceyhan pipeline in 2014 after the region was overrun by Islamic State militants. Recaptured by U.S.-backed Iraqi forces over the past two years, there have been some intermittent flows. Oil minister Jabar al-Luaibi has asked state-owned North Oil Co.…
Uganda, Tanzania Constructing $3.5 Bln Oil Pipeline
The leaders of Tanzania and Uganda laid a foundation stone on Saturday for the construction of a $3.55 billion-crude export pipeline that would pump Ugandan oil for international markets. The 1,445 km-project - set for completion by 2020 - will stretch from landlocked Uganda's western region, where crude reserves were discovered in 2006, to Tanzania's Indian Ocean seaport of Tanga. The project will become "the longest electrically heated crude oil pipeline in the world," said Guy Maurice, Senior Vice President of Africa at Total Exploration and Production.
Alberta Committed to Seeing Trans Mountain Pipeline to Completion
Alberta's provincial government said on Tuesday that it remained "steadfastly committed" to seeing the Trans Mountain crude oil pipeline through to completion. British Columbia's minority Green Party on Monday struck a deal with the left-leaning New Democrats to govern Canada's western-most province, casting doubt on the future of the project. "It's important to note that provinces do not have the right to unilaterally stop projects such as Trans Mountain that have earned the federal government's approval," Alberta Premier Rachel Notley said in a statement.
Sinopec's South China Crude Pipeline in Operation
China Petroleum and Chemical Corp has started operating a major crude oil pipeline that connects eastern Jiangsu province with refineries in south China, the company said in a statement. The pipeline, which spans 560 kilometers, runs at an annual capacity of 20 million tonnes, Sinopec said. "The new crude oil pipe will support crude demand from Sinopec's Jiujiang and Anqing refinery", it added. Reporting by Meng Meng and Aizhu Chen