Magellan Midstream Partners, L.P. (NYSE: MMP) and Navigator Energy Services announced on Jan. 31 an extension of the open season to solicit commitments from shippers for the potential new Voyager pipeline to transport various grades of light crude oil and condensate from Cushing, Oklahoma to Houston.
Brutal cold puts gas production from Appalachia at risk.
The Canadian province of Alberta will ease oil curtailments in February and March, earlier than expected, saying on Jan. 30 that its rare step to limit production had eased a glut of crude.
A U.S. appeals court has stayed a previous court decision against Forest Service permits that allowed Dominion Energy Inc. to build the $6.5 billion to $7 billion Atlantic Coast natural gas pipeline across national forests and the Appalachian Trail.
General Electric Co. said on Jan. 30 it would fold its battery storage and electrical grid units into its wind turbine and hydropower business to cut costs, speed decision-making and cater to surging demand for renewable power.
Shell is the world’s largest oil trader. The trading operations often help oil producers offset large swings in oil prices and in some cases can generate large profits.
Chevron, which reported an increase in shale production in the third quarter, has said it wants a second Gulf Coast facility to handle that crude and better supply its retail gasoline network.
Deal gives the option to make up to $800 million in additional borrowings for 180 days.
Traders are looking for ways to keep the crude flowing during the sanctions.
The International Energy Agency (IEA) has yet to assess the impact of the latest U.S. sanctions on Venezuelan oil supplies, its executive director said on Jan. 30.
An EIA report shows U.S. crude oil stockpiles rose less than expected last week due to a drop in imports, which helped offset the impact of a substantial drop in refining activity.
Rating agency Fitch downgraded the credit rating of Mexican state oil company Pemex on Jan. 29, sending the peso currency falling in early trading in Asian markets.