Moody’s lowers its outlook for global sector from ‘positive’ to ‘stable’ as spending cuts, reduced production cloud outlook for industry.
Midstream MLP distribution growth should remain strong through 2016 as midstream development catches up with U.S. production, analyst says.
Maynard Holt, the head of investment banking for Tudor, Pickering Holt & Co., sees reasons to be optimistic about future oil prices.
The likelihood that Brent will return to the mid-$70 per-barrel (bbl) range by 2016 looks increasingly imperiled, and with it, the prognosis for the most cash-strapped OPEC members is deteriorating.
Bearish sentiments in the commodities market were further increased as stock markets ride volatile wave.
After a surprise price resurgence earlier this season, crude and liquids have been dropping in value.
As the industry anxiously awaits demand to arrive, hydrocarbon storage is filling up.
Commodity prices remain challenged as markets await various demand factors to start to kick in.
ExxonMobil Corp and BHP Billiton will replace a 187 kilometer (116 mile) pipeline that transports crude oil and condensate between two of their sites in Australia's Victoria state, Reuters said.
Oil-price volatility is creating a nightmare for petrochemical companies planning investments, according to Don Bari, vice president of technology and analytics for IHS Chemical and author of the report.
The rally was aided by news of Shell’s force majeure on Nigerian oil exports and data indicating more drawdowns in crude this week at Cushing, Okla., Reuters said.
U.S. oil producers should be able to export oil, supporters say, if Iranian producers can under an international agreement easing sanctions in exchange for limits on nuclear development, Reuters said.
Statoil’s Polarled gas pipeline will open a new gas highway from the Norwegian Sea to Europe by crossing the Arctic Circle. The 482-kilometer pipeline is being transported by Allseas’ Solitaire vessel.
Cause of pipeline fire near Marsh Island, La., will not be disclosed until an investigation is completed, Boardwalk said. The 10-inch pipeline belongs to Gulf South Pipeline Co., Reuters said.
The US$907 million sale to North Sea Midstream Partners, an ArcLight Capital affiliate, includes the Frigg U.K. and SIRGE gas pipelines and the St. Fergus gas terminal, Reuters said.
Alliance declared force majeure on its 2,400-mile pipeline taking gas and NGL from western Canada and North Dakota to Chicago market after finding poisonous hydrogen sulfide, Reuters said.
Commodity prices continue their summer slump, but fall and winter should provide modest upticks.
Producers and operators are adjusting to new market dynamics as export demand replaces heating demand as the largest mover for propane prices.
The acquisition of private company RKI Exploration & Production adds 3,600 locations in the Permian Basin and continues WPX’s climb up in the oil producing ranks.
The largest distillation unit’s full capacity is 250,000 barrels per day, and BP did not specify when full capacity will be reached after the restart.
Natural resources contamination resulted from refineries in Bayonne and Linden, N.J., and elsewhere. Some surface water damages claims can still be pursued, said John Hoffman, acting attorney general, Reuters said.
An open season for the pipeline was completed, and the transportation services agreements allow engineering and construction to move forward. The project is scheduled to be completed in second-half 2016.
Isobutanol burns with less corrosion, holds more of gasoline's energy content allowing longer travel, is cheaper to blend with gas, and is compatible with the current petroleum infrastructure.