Asia favors propane, while Nigeria’s reforms on fuel imports helped lower Africa’s overall importation of U.S. motor gasoline. In the U.S., current heating and propane costs are lower than last year’s.
Moving oil and gas are top priorities, but in the current economic environment, the company wants to build infrastructure and commercially ship water gathering and disposal.
ArcLight and Gulf Oil entered an FTC-mandated agreement to divest Pennsylvania terminals to Arc Logistics Partners LP after regulators grew concerned about the deal’s anticompetitive potential.
U.S. shale oil will ultimately find its place in refineries designed for light, sweet crude and head-to-head competition with OPEC once demand catches up to supplies.
Ophir said it had been unable to complete the deal for its Fortuna project on the terms agreed in January, when it signed a preliminary contract with the world's largest oilfield services provider.
Long considered a front-runner in the race to build Canada's first LNG export project, the consortium behind Pacific NorthWest pledged last June to start construction as soon as it was approved by regulators, eyeing the end of 2015.
Patrick de La Chevardiere said that due to sanctions, American dollars will not finance the Yamal LNG project, but that the project’s figures were in dollar equivalent, Reuters reported.
Traders noted there was limited bearish news with the exception of Russia's Sakhalin-2 LNG plant tendering to sell five cargoes in July, Reuters reported.
TransCanada reported lower earnings on its liquids pipelines, however, in part because of lower uncontracted volumes on its Keystone crude pipeline to the U.S. and Marketlink line from Cushing, Okla., to the Gulf Coast.
Chip Mitchell, president of CH2M's energy and industrial business segment, said the need for major oil and gas pipeline infrastructure remains significant throughout the U.S., Canada and Mexico. He added that CH2M is building its Houston team.
The Denver company acquired a 66.7% interest in the Okeanos pipeline, a 100-mile gas gathering system in the GoM, from an affiliate of its general partner for an undisclosed amount.
FirstEnergy Capital analyst Mike Dunn said the fixed price agreement had been made before Liwan went ahead and was key to Husky's final decision to invest in the project, Reuters reported.
Permian Rail Park is located on the Union Pacific Railway about 8 miles from Big Spring, Texas, serving Midland Basin. The 530-acre rail park is Twin Eagle’s fifth terminal development.
J. Patrick Barley, executive chairman and CEO, said the company could provide the lowest-cost ethanol in central Arkansas and elsewhere.
Valero first proposed building the rail facility at Benicia refinery to offload up to 70,000 barrels per day of inland U.S. and Canadian heavy crude three years ago, Reuters said.
Global Partners has been expanding its railport and terminal at Port of St. Helens in Clatskanie, Ore., to increase storage, handle Panamax-sized vessels and increase crude offloading capability, Reuters said.