Tuesday, July 17, 2018

Line 5 News

Oil Tight on Libyan Port Struggles

Image:  © cherezoff/Adobe Stock

Libyan oil production could face protracted disruption as factions in the east seek to seize control of crude exports, adding pressure to a tight global market. Eastern factions have tried to take over oil exports in the past but have…

Iran Sanctions, Moderate Gasoline Prices Not Possible: Kemp

File Image (CREDIT: AdobeStock / © mikesjc)

The White House can drive Iran’s oil exports to zero, or it can have moderate U.S. gasoline prices, but it probably cannot have both. The awkward tension between the administration’s foreign policy priority (tough Iran sanctions) and…

ETP finds Philadelphia-area Pipeline is Source of Gasoline Leak

File Image (CREDIT: AdobeStock / © Hanmaomin)

Energy Transfer Partners LP has found that its 12-inch, Philadelphia-area pipeline was the source of a gasoline leak discovered last month in a nearby creek, the company told Reuters on Tuesday. ETP on June 22 shut the 12-inch pipeline…

Asian Refiners Rush to Secure Feedstock as Trade War Looms

File Image (CREDIT: AdobeStock / © Carabay)

U.S. tariffs on Chinese goods came into effect Friday; China retaliates, duty on U.S. crude possible. Asian oil refiners are racing to secure crude supplies in anticipation of an escalating trade war between the United States and China…

China's Tariffs on US Oil Would Disrupt $1 Bln Monthly Business

© Igor Groshev / Adobe Stock

China's threat to impose duties on U.S. oil imports will hit a business that has soared in the last two years, and which is now worth almost $1 billion per month.In an escalating spat over the United States' trade deficit with most of its major trading partners, including China, U.S.

Centrica, Tokyo Gas Break Mold in Mozambique LNG Deal

Britain's Centrica and Japan's Tokyo Gas aim to buy liquefied natural gas (LNG) from Anadarko Petroleum's $20 billion project in Mozambique, the first joint procurement deal designed to defuse risks facing the buyers in their respective markets.The deal also brings Anadarko one step closer

US Oil Pipeline Companies, Producers Seek Relief from Steel Tariffs

© Christopher Boswell / Adobe Stock

Major U.S. energy companies including Plains All American Pipeline, Hess Corp and Kinder Morgan Inc are among many seeking exemptions from steel-import tariffs as the United States ratchets up trade tensions with exporters including China…

CORTEC Introduces CRV26 Pressure Relief Valve

CRV26 PRV (Photo: CORTEC)

CORTEC, a manufacturer of high quality API chokes, valves and manifolds, has introduced its new CRV26 Pressure Relief Valve (PRV).The CRV26 PRV is a product of the CORTEC Fluid Control division of CORTEC, which provides a complete line…

ETP Reopens one of two Philadelphia Area Product Pipelines

File Image (CREDIT: AdobeStock / © Maksym Yelenyanov

Energy Transfer Partners LP reopened the smaller of two Philadelphia area pipelines that help carry refined products from the region's refineries to the New York Harbor and Western Pennsylvania but the larger of the two remained shut, the company said in a customer notice seen by Reuters.

Minnesota Regulators Question Enbridge Pipeline Expansion

Line 3 Replacement Project (Photo: Enbridge, Inc.)

Commissioners on a Minnesota regulatory board questioned crude oil demand for Enbridge Inc's Line 3 pipeline on whether work can proceed on a proposed expansion of the line. Enbridge wants to replace the aging 1,031 mile  pipeline that runs from Alberta to Wisconsin…

Canada Dreams of Oil Exports to Asia, but California Beckons

File Image (CREDIT: AdobeStock / © Diter)

The nationalization of a crude oil export pipeline in western Canada has buoyed long-standing hopes for crude exports to markets beyond the United States - but the most likely destination for much of that oil is California. Faced with…

The Culture Clash Behind GE's Exit from Baker Hughes

File Image (CREDIT: AdobeStock / © xmentoys)

When General Electric Co bought oilfield services giant Baker Hughes last July, it created a global industry colossus with $22 billion in annual revenue. GE promised to digitalize oilfields worldwide, marrying its expertise in big data…

MN Regulators Signal Support of Enbridge Pipeline

File Image (CREDIT: AdobeStock / © Berkut 34)

Three of five members of the Minnesota Public Utilities Commission said on Thursday they support issuing a certificate of need for Enbridge Inc to rebuild its Line 3 oil pipeline, angering environmentalists but offering hope to Western Canadian oil producers.

Europe's Iranian Oil Purchases Set to Plummet

File Image (CREDIT: AdobeStock / © Leeylutung)

Key lender for Europe's oil purchases cuts credit from June 30. European refiners are cutting purchases of Iranian oil faster than expected as the U.S. prepares to reimpose sanctions on Iran, threatening a more severe impact than the…

Struggle to Control Libyan Oil Ports Adds to Global Supply Worries

Libyan oil production could face protracted disruption as factions in the east have sought to seize control of crude exports, adding pressure to a tight global market.Eastern factions have tried to take over oil exports in the past yet…

Leach Xpress Pipeline Service Delayed until Mid-July

File Image (CREDIT: AdobeStock / © Berkut 34)

TransCanada Corp's Columbia Gas Transmission unit pushed back the date of its Leach Xpress natural gas pipeline in West Virginia. Service will be resumed mid-July. The pipe was damaged in a blast on June 7. The Leach shutdown forced…

Britain Launches North Sea Frontier Oil, Gas Licensing Round

© Lukasz Z / Adobe Stock

Britain's Oil and Gas Authority on Tuesday launched a licensing round for 1,766 offshore oil and gas blocks in the North Sea to attract investment in under-explored areas of the mature basin which is enjoying a revival of investor interest.The blocks cover an area of 370…

Danos Wins Shell Contract

Photo courtesy of Danos

Royal Dutch Shell subsidiary Shell Exploration and Production Company has awarded a contract to Danos to provide coatings for Shell’s deepwater Appomattox platform in the Gulf of Mexico. Located in the Gulf of Mexico 80 miles off the coast of Louisiana…

Oil Slips On U.S./China Trade Dispute, OPEC Supply Outlook

© Ded Pixto / Adobe Stock

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.

EU Agrees Final Energy Saving, Renewables Targets

(Photo: Eric Haun)

The European Union on Wednesday finalized new climate rules after months of talks, targeting a total energy saving of 32.5 percent and an uplift in the share of renewable energy to 32 percent by 2030.National governments must now draft…

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