Industry News

Dutch to end Groningen gas production quicker than predicted

The Dutch government will end production at the vast Groningen natural gas field sooner than previously announced, Dutch Economy Minister Eric Wiebes said.

Aramco Trading sells first U.S. West Texas Light crude

Aramco Trading Company (ATC) sold its first-ever cargo of U.S. West Texas Light (WTL) crude, with a South Korean refiner the buyer, as the Saudi Aramco unit expands its U.S. oil dealings to boost trade volumes, sources said.

Brazil's Petrobras refineries sale lures trading companies

Brazil’s planned privatization of eight Petroleo Brasileiro SA refineries has lured several of the world’s largest trading and oil companies as prospective bidders, sources said.

Ecuador seeks investor to build new refinery

Ecuador is seeking private companies interested in building a new refinery on the OPEC nation’s coast with a capacity of up to 300,000 barrels per day (bpd), a state official said.

Canada's Energy Regulator Responds to Concerns Over Enbridge Pipeline Plan

Canada's energy regulator responded to shipper complaints about Enbridge Inc's plan to switch to fixed contracts on its Mainline pipeline network by announcing a fast-track process to gather comment on the proposal that could lead to its being delayed.

Judge Blocks Obama-Era Water Initiative Pending Revision

A federal judge in Georgia has blocked enactment of the 2015 Waters of the United States (WOTUS) rule in Georgia and nine other states that filed suit against the U.S. Environmental Protection Agency while the initiative is under review by the Trump administration.

India could review long-term LNG contract prices

India will look at reviewing the pricing of its long-term liquefied natural gas (LNG) deals at an “appropriate time” due to a fall in spot prices, oil minister Dharmendra Pradhan said.

Nigeria says it will not relinquish assets in $9B gas project dispute

Nigeria will not relinquish assets to a firm registered in the British Virgin Islands following a court ruling related to a $9 billion gas project dispute, the West African country’s information minister said.

Ukraine winter season gas reserves rise to 17.8 bcm

Ukraine had stored 17.8 billion cubic meters (bcm) of gas by Aug. 25, as the country looks to stockpile at least 20 bcm for the 2019/20 heating season, gas transport company Ukrtransgaz said.

Biofuel credit surplus could blunt RIN price impact

A big surplus of U.S. biofuel blending credits would likely blunt potential price increases in the market if the Trump administration follows through on its proposal to boost blending volumes mandates, four industry sources said.

Kenya's first crude oil export sparks demands over revenue sharing

Kenya exported its first crude oil amid pointed speeches by local leaders asking the government to stick to its commitment to share revenues from future shipments equitably.

BP to quit Alaska after 60 years with $5.6B sale

British oil major BP Plc agreed to sell all its Alaskan properties for $5.6 billion to privately held Hilcorp Energy Co, exiting a region where it operated for 60 years.

New Permian Pipeline Startup Splits WTI Midland Market

WTI Midland crude prices at Plains All American Pipeline LP’s Midland terminal spiked this month compared with barrels traded at Enterprise Products Partners LP’s Midland terminal as Plains’ Cactus II pipeline began service, oil traders familiar with the matter said.

Clock ticking on Guyana election

South America's most exciting new province has yet to call an election, despite first oil rapidly approaching

China looks west to solve energy riddle

Xinjiang has potentially huge untapped reserves, but exploration in the desert province presents complex geological and political challenges

Permian pipelines bring relief—and challenges

Two major new crude pipelines out of the Permian Basin entered service this month, but while this provides some relief to producers, it shifts the congestion to the Gulf Coast