News

Transport

Oil Major Total To Buy Brazil's Grupo Zema Distribution Business

French energy group Total has agreed to buy for an undisclosed amount the distribution business of Brazil's Grupo Zema, in order to expand in Brazil and in the biofuels sector.

Reuters

Crude Oil

Oil Falls On Rising US Inventories, OPEC Talk Of Cut Limits Loss

Oil prices dipped on Nov. 22 after U.S. inventories swelled to their highest level since December adding to concerns about a global crude glut but OPEC talk of an output cut limited losses.

Reuters

Construction

Wolf Midstream Launches Open Season For Proposed Midland Basin Crude Pipe

Red Wolf Crude Connector will have an initial capacity of 120,000 bbl/d.

Crude Oil

EIA: US Crude Oil Stockpiles Rise In Ninth Weekly Build

Total inventories were 446.91 million barrels, the highest level since Dec. 2017, according to an EIA report. The last time crude oil stockpiles grew for nine straight weeks was between Jan. 6, 2017 to March 3, 2017.

Reuters

PetroChemical

Alberta Boosts Incentives For New Petrochemical Plants

Alberta said on Nov. 20 that it will double its incentives for companies developing new plants to make petrochemical products, as the Western Canadian province seeks to diversify its economy beyond crude extraction and export.

Reuters

Crude Oil

Trump Praises Saudi Arabia For Oil Prices As Pressure For Sanctions Intensifies

President Donald Trump praised Saudi Arabia for helping to lower oil prices on Nov. 21 as pressure intensified to impose tougher sanctions on the Middle East ally following the murder of dissident Saudi journalist Jamal Khashoggi.

Reuters

Crude Oil

British Columbia Moves To Phase Out Non-electric Car Sales By 2040

British Columbia’s premier said on Nov. 20 his government will introduce legislation next year that will require all new light-duty cars and trucks sold in the province by 2040 to be electric or zero-emission vehicles.

Reuters

LNG

Argentina To Join Ranks Of LNG Exporters Driven By Vaca Muerta Shale

Argentina is due to begin exports of LNG from a part of its vast Vaca Muerta shale gas resource next year through FLNG vessel provided by Exmar.

Reuters

Crude Oil

Bakken Oil Flows Pressure Gulf Coast Crude Grade Prices

Bakken crude oil pricing "is pretty distressed," one trader said. For buyers who can grab it at the Gulf Coast, the crude "is going to look a lot more attractive than the local grades."

Reuters

Crude Oil

US Targets Iranian-Russian Network Over Syrian Oil Shipments

U.S. officials said Russia facilitated the delivery of oil from Iran to Syria, and that a variety of mechanisms were used in an attempt to conceal the shipments and oil-related payments.

Reuters

Acquisitions & Divestitures

Woodside Petroleum Signs 20-year Gas Supply Deal With Perdaman

Woodside Petroleum Ltd, Australia's biggest listed oil and gas explorer, said on Nov. 20 it had signed a 20-year gas supply deal with Perdaman Chemicals and Fertilisers Pty Ltd.

Reuters

Acquisitions & Divestitures

Elevate Midstream Establishes East Texas Footprint With Recent Acquisition

The acquisition, which the Tailwater Capital-backed company acquired from Woodland Midstream Partners and Orion Pipeline, establishes a “strong asset base” for Elevate Midstream in East Texas.

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