Rising Oil Prices Boost US Economy
U.S. net petroleum imports have fallen to the lowest level in more than half a century as a result of the shale revolution, which is profoundly changing the impact higher oil prices have on the economy. Since the 1860s, the United States has been the world’s largest producer and consumer of oil, which means it has a complicated relationship with oil prices.
Oil Gains After Larger than Expected U.S. Stock Draws
U.S. crude stocks fall by 1.4 million barrels. Global oil demand likely to moderate this year. Oil prices gained on Wednesday, shaking off the effects of a strengthening dollar, after an inventory report showed U.S. crude and gasoline stocks fell more than expected. Brent crude futures gained 85 cents to settle at $79.28 a barrel, while U.S. crude futures gained 18 cents to settle at $71.49 a barrel.
ETP Plans Permian Express 3, Dakota Access Oil Pipeline Expansions
Energy Transfer Partners LP on Thursday said it expects to expand its Permian Express oil pipeline system further by upto 100,000 barrels per day (bpd) and is mulling boosting capacity on its Dakota Access crude pipeline.Flows on the Dakota Access pipeline, that runs from North Dakota to Illinois, have averaged just over 500,000 bpd recently and the company could expand by another 100,000 bpd, an executive said on its second quarte
Oil Slips On U.S./China Trade Dispute, OPEC Supply Outlook
Oil fell on Tuesday ahead of a possible increase in OPEC crude supply, and as an escalating trade dispute between the United States and China unleashed sharp selloffs in many global markets.Brent crude futures eased 60 cents, or 0.8 percent, to $74.74 a barrel by 11:31 a.m. EDT (1531 GMT), while U.S. West Texas Intermediate crude futures fell $1.01…
Dakota Pipeline Gets Regulatory Approvals
Army cancels environmental study on pipeline impact and will grant permit to complete $3.8 bln line. The U.S. Army will grant the final permit for the controversial Dakota Access oil pipeline after an order from President Donald Trump to expedite the project despite opposition from Native American tribes and climate activists. In a court filing on Tuesday…
MPLX Files with U.S. to Expand Ozark Pipeline Expansion Project
MPLX LP filed a petition with the Federal Energy Regulatory Commission on Wednesday seeking permission to expand the Ozark Pipeline, which carries crude oil from Cushing, Oklahoma to Wood River, Illinois. MPLX expects the commission to act by May 10, and the additional capacity could be available in the second quarter of 2018. On Monday, an MPLX subsidiary agreed to purchase Ozark pipeline…
John Crane Discusses Technologies for Managing Gas Emissions
A United Nations panel examining the critical role gas will play in achieving the international organization’s Sustainable Development Goals has invited an expert from John Crane to showcase how the firm’s technology is reducing methane emissions in sectors of the natural gas industry by up to 95%. John Crane is a division of the global technology company Smiths Group Plc.
E. Coast Refiners Shun Bakken Rail Deliveries
Philadelphia Energy Solutions Inc, the largest refiner on the U.S. East Coast, will not be taking any rail deliveries of North Dakota's Bakken crude oil in June, a source familiar with delivery schedules said on Tuesday - a sign that the impending start of the Dakota Access Pipeline is upending trade flows. At its peak, PES would have routinely taken about 3 miles' worth of trains filled with Bakken oil each day.
ETP: U.S. Drilling Ban Won't Delay Ohio Gasline
Completion of the Rover pipeline, the biggest natural gas pipe under construction in the United States, is not expected to be delayed by a U.S. federal order to stop new drilling to install pipe, Energy Transfer Partners LP said on Thursday. The company spilled more than 2 million gallons of drilling fluid - mostly water and clay - in Ohio wetlands in April during construction of Rover…
BP Accuses Former Analyst of Stealing Trade Secrets
BP Plc has sued a former U.S. oil analyst for allegedly stealing trade secrets and other confidential information, according to court filings. BP's oil trading division alleged that Joseph Giljum, a crude oil analyst who left the company in April, compiled over 950 business files containing confidential and valuable information and uploaded the files to his personal Amazon Cloud Drive.
Oil Spilled After U.S. Train Derailment
Canadian National Railway Co said about 20,000 gallons of oil was released following a freight train derailment at Plainfield, the U.S. state of Illinois on Friday, according to a filing with state pollution regulators. The cause of the derailment was unknown, a filing with the Illinois Emergency Management Agency said on Saturday. Local media reports estimated the spill to be 45,000 gallons.
U.S. Ethanol Makers Ease Away From Fuel
A U.S. glut of fuel-grade ethanol has major producers, including Green Plains Inc and industry pioneer Archer Daniels Midland Co, pursuing other markets and idling excess capacity in an effort to rebuild sagging margins. ADM and Green Plains both said on Tuesday they are converting fuel-ethanol capacity into beverage and industrial alcohol production, as well as idling some mills.
U.S. Midwest Refiners Boost Output
U.S. refineries from Ohio to Minnesota are capitalizing on access to cheap crude from Western Canada and North Dakota oilfields, helping their region break a historic dependence on fuel from the Gulf Coast while redrawing oil trade maps. Since the early 2000s, crude and fuel flows from the Gulf Coast into the U.S. heartland have been cut in half, as crude coming from Canada and North Dakota has pushed U.S.
Judge Orders Oil-spill Response Plan for Dakota Access Pipeline
A federal judge on Monday ordered Energy Transfer Partners to coordinate with tribes to create an oil-spill response plan for the controversial Dakota Access Pipeline by April 1, 2018. The ruling from U.S. District Judge James Boasberg came nearly six months after he ruled that the Army Corps of Engineers’ review of the project, which transports oil from North Dakota near Native American reservations to Illinois…
Colonial Pipeline Demand at 2-Month Nadir
Demand to ship gasoline on Colonial Pipeline has sunk to a two-month low as Gulf Coast supplies are increasingly being exported or sent to the Midwest rather than to the New York harbor, three sources familiar with the matter said on Wednesday. Colonial Pipeline Co, the largest U.S. fuel network, has consistently allocated space for at least the past two months, meaning demand has exceeded capacity on the pipeline.
Winter Storm Threatens U.S. East Coast Energy Industry
The U.S. energy industry braced for a major test to refineries and power plants as an intense winter storm roared up the Atlantic Coast, bringing heavy snowfall and high winds to a region already beset with several days of extreme cold. The storm is the product of a rapid and rare sharp drop in barometric pressure known as bombogenesis, or bomb cyclone.
Police Fire Water Cannon at Dakota Pipeline Protesters in Freezing Weather
Police fired tear gas and water at hundreds of protesters in North Dakota opposed to an oil pipeline in freezing weather late Sunday and early Monday, in the latest violent clash between law enforcement and activists over the $3.7 billion project. A joint statement from several activist groups said protesters were trying to remove the burned vehicles…
Cushing's Market Clout Wanes Amid U.S. Crude Export Boom
The volume of oil sitting in 300 steel tanks in a nine-square-mile radius in Cushing, Oklahoma has long been a key barometer for the health of U.S. crude supply and the nation's benchmark for daily trading of billions of dollars in the commodity. But those tanks could soon drain to levels near effectively empty, even as U.S. oil production soars past a new record of 10.4 million barrels per day.
E.ON Announces US Onshore Wind Farm Investment
German based E.ON has announced an investment in U.S. onshore wind, with plans to build a 228 megawatt onshore wind farm Bruenning’s Breeze in Willacy County, Texas. The wind farm, scheduled for commissioning at the end of next year, will feature 76 three-megawatt turbines provided by the German manufacturer Nordex. “This decision reflects our strong commitment to further develop renewables in the U.S. market.
EPA Announces Funding to Reduce Diesel Emissions
Preference given to fleets in areas facing air quality challenges. The U.S. Environmental Protection Agency (EPA) announced the availability of grant funding to modernize the nation’s diesel fleet by retrofitting or replacing vehicles with cleaner, more efficient diesel engines. EPA anticipates awarding approximately $40 million in Diesel Emission Reduction Program (DERA) grant funding to eligible applicants…