Tuesday, February 19, 2019

Illinois News

TransCanada Restarts Portion of Keystone Pipeline

File Image: AdobeStock / © Diter

TransCanada Corp restarted a section of the Keystone oil pipeline on Tuesday, following a leak in Missouri earlier this month, company spokesman Terry Cunha said.TransCanada had shut an arm of Keystone from Steele City, Nebraska to Patoka, Illinois on Feb. 6 after a 43-barrel leak. The shut-down restricted the flow of Western Canadian crude to U.S. refineries.Reporting by Rod Nickel

Top Citgo Executives Removed as PDVSA Chaos Continues

File Image: the idled Aruba refinery (AdobeStock / © Hans

Citgo Petroleum Corp has removed at least three top executives close to Venezuelan President Nicolas Maduro, people familiar with the matter said on Monday, in a move to cement management control under a new board of directors.The U.S. refining arm of Venezuelan state-run oil company PDVSA has been thrust in recent weeks into the center of a political…

Partial Shutdown of Keystone Oil Pipeline

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A shutdown of a portion of TransCanada Corp's Keystone oil pipeline will last a further "days not weeks," following a leak in Missouri last week, crude producer Cenovus Energy said on Wednesday.Citing a conversation with TransCanada, Cenovus executive vice-president of downstream, Keith Chiasson, said the pipeline company has identified the location…

Part of Keystone Pipeline Still Shut After Missouri Leak -TransCanada

TransCanada Corp said on Monday a part of its Keystone crude pipeline from Steele City, Nebraska, to Patoka, Illinois, remained shut after a leak was discovered in the St. Louis, Missouri, area last week.The cause and source of the spill have not been determined and there is no estimated timeline for a restart, TransCanada spokesman Terry Cunha said in an email.The 590…

US Natural Gas Demand Nears Record High

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U.S. homes and businesses will likely use record amounts of natural gas for heating on Wednesday as an Arctic-like freeze blankets the eastern half of the country, according to energy analysts.Harsh winds brought record-low temperatures across much of the Midwest, unnerving even residents accustomed to brutal winters and keeping them huddled indoors…

ETP Plans Permian Express 3, Dakota Access Oil Pipeline Expansions

Photo: ETP

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

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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…

Oil Gains After Larger than Expected U.S. Stock Draws

File Image (CREDIT: AdobeStock / © Redindie)

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.

Rising Oil Prices Boost US Economy

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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.

EPA Announces Funding to Reduce Diesel Emissions

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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…

Cushing's Market Clout Wanes Amid U.S. Crude Export Boom

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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.

Winter Storm Threatens U.S. East Coast Energy Industry

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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.

Colonial Pipeline Demand at 2-Month Nadir

File Image (CREDIT: AdobeStock / (c) Maksym Yemelyanov)

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.

Judge Orders Oil-spill Response Plan for Dakota Access Pipeline

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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…

U.S. Midwest Refiners Boost Output

File Image (CREDIT: AdobeStock / (c) Sharrif Che'Lah)

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.

U.S. Ethanol Makers Ease Away From Fuel

File Image: a typical midwest Ethanol facility. (CREDIT: AdobeStock / (c) Jason Lee)

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.

Oil Spilled After U.S. Train Derailment

File Image: A typical Crude Oil train in the United states makes its way south along inalnd waterways. CREDIT: Dagmar Etkin

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.

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.

ETP: U.S. Drilling Ban Won't Delay Ohio Gasline

File Image: A typical gas pipeline header arrangement. (CREDIT: AdobeStock / (c) pisotckii)

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…

E. Coast Refiners Shun Bakken Rail Deliveries

File Image: A crude oil train rolls through America's heartland. CREDIT Dagmar Etkin

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.