News

Crude Oil

Magellan Midstream And Navigator Energy Services Extend Open Season For Potential Cushing-To-Houston Crude Oil Pipeline

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.

Reuters

Natural Gas

US Natural Gas Demand To Hit Record High During Freeze

Brutal cold puts gas production from Appalachia at risk.

Reuters

Crude Oil

Canadian Province Of Alberta Lowers Oil Curtailments As Glut Eases

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.

Reuters

Pipelines

US Court Stays Ruling Against Dominion Atlantic Coast Natural Gas Pipeline

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.

Reuters

GE To Combine Renewable, Grid Assets Into Single Unit

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.

Reuters

Crude Trading Propels Shell’s Fourth-Quarter Results

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.

Reuters

Acquisitions & Divestitures

Chevron To Buy Pasadena Refinery From Petrobras For $350 Million

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.

Reuters

Finance

Enable Midstream Announces $1 Billion Term Loan Agreement

Deal gives the option to make up to $800 million in additional borrowings for 180 days.

Crude Oil

Global Oil Industry Braces For Turmoil From US Crackdown On Venezuela

Traders are looking for ways to keep the crude flowing during the sanctions.

Reuters

Crude Oil

IEA Chief: Too Early To Assess Impact Of Latest U.S. Sanctions On Venezuela

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.

Reuters

Crude Oil

EIA: US Crude Stockpiles Rise Less Than Expected

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.

Reuters

Debt & Equity

Fitch Downgrades Mexico's Pemex Rating; Peso Falls

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.

Reuters

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