News

Crude Oil

IEA: US Crude Gains, Slowing Global Economy Challenge Oil Market In 2019

U.S. oil production growth combined with a slowing global economy will put oil prices under downward pressure in 2019, challenging OPEC’s resolve to support the market with output cuts, the International Energy Agency said on Jan. 18.

Reuters

Crude Oil

US Gulf Coast Hunt For Heavy Crudes Send Prices Higher

Refiners have scooped up the Heavy Louisiana Sweet (HLS) at higher prices than Light Louisiana Sweet (LLS), the U.S. coastal benchmark that last traded $7.15 over WTI, traders said.

Reuters

Former US Commerce Secretary To Lead Partnership Helping Permian Basin Residents

Exxon Mobil, ConocoPhillips, Oxy, Pioneer Natural Resources and Shell are among the oil and gas firms that have joined the Permian Strategic Partnership.

Reuters

PetroChemical

Mexico Pipeline Problem Eyed In US Gulf Coast Gasoline Build

Refined products are stockpiled following closure of fuel pipelines.

Reuters

LNG

In Papua New Guinea, Exxon’s Giant LNG Project Fuels Frustration

Promised payments to government, communities and landowners have fallen short of forecasts.

Reuters

Crude Oil

Canada's Oil Cuts Offer Lifeline To Producers But Create New Problems

The Canadian province of Alberta’s OPEC-style decision to force production cuts is benefiting oil companies with higher prices, but it is also pushing capital elsewhere and threatens to undermine booming crude-by-rail shipments.

Reuters

Crude Oil

Before Start Of New Oil Pact, OPEC Made Progress Averting Glut

OPEC said on Jan. 17 it had cut oil output sharply in December before a new accord to limit supply took effect, suggesting producers have made a strong start to averting a glut in 2019 as a slowing economy curbs demand.

Reuters

Crude Oil

Australia's Woodside Steps Up Spending For Next Leg Of Growth

Australia's Woodside Petroleum Ltd on Jan. 17 flagged higher-than-expected investment spending for 2019 as it steps up early work on the two big natural gas developments that will drive its growth in the next decade.

Reuters

Acquisitions & Divestitures

Pipeline Operator Kinder Morgan Canada's Profit Surges

Kinder Morgan, which holds about 70% majority voting interest in Kinder Morgan Canada, has hired investment bank TD Securities to facilitate a potential sale of its Canadian business.

Reuters

Natural Gas

FERC Investigates Rates Charged By Three Interstate Pipeline Companies

Commission also terminates nine other proceedings.

Apache, Altus Midstream Announce New Altus CEO

Clay Bretches joins Altus from Sendero Midstream and Anadarko.

Natural Gas

US Natgas Futures Unchanged On Warmer Forecasts

Frigid conditions still expected for the end of January.

Reuters

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