Storage - News

Acquisitions & Divestitures

Athabasca Oil Sells Alberta Thermal Oil Infrastructure To Enbridge

The C$265 million sale to Enbridge consists of Leismer pipelines and a Cheecham storage terminal serving the Leismer oil sands and Corner projects in Athabasca’s Alberta thermal oil business.

Crude Oil

EIA: US Turns Into Net Oil Exporter As Imports Fall

The EIA reported crude oil inventories fell 7.3 million barrels in the week to Nov. 30, which was the first drop in U.S. crude stocks since September and came as exports surged to a record.

Reuters

Crude Oil

US Gulf Coast Crude Imports Fall To 1-Year Low As Exports Surge

U.S. Gulf Coast crude oil imports in October fell to the lowest level in more than a year as the nation's production and exports soared, data from Refinitiv Eikon and market intelligence firm Kpler show.

Reuters

Natural Gas

Cold US Weather Lifts Spot Natural Gas Prices To Nearly $5

Front-month natural gas futures rose as high as $4.929 per mmBtu on Nov. 14, their highest since February 2014, as cold weather blanketed much of the U.S. this week.

Reuters

Crude Oil

EIA: US Crude Inventories Boosted By Another Jump In Production

Oil prices fell after the EIA reported that U.S. crude inventories rose by 5.8 million barrels in the week to Nov. 2, more than double analysts' expectations.

Reuters

Acquisitions & Divestitures

Buckeye Partners’ Strategic Review Results In $1.4 Billion Of Divestitures

Buckeye Partners said the divestitures, comprised of its stake in  VTTI for $975 million and a $450 million asset sale, was the result of a strategic review by the Houston-based company.

Crude Oil

EIA: US Crude Stocks Rise For Sixth Week; Fuel Draws Down

The EIA said on Oct. 31 that crude stocks rose 3.2 million barrels in the week to Oct. 26, less than analysts' expectations for a 4.1 million-barrel build.

Reuters

Crude Oil

OPEC Signals Possible Need To Change Course As Oil Inventories Rise

OPEC and non-OPEC ministerial panel signaled a possible need for more production cuts as global oil inventories rise, in a statement that may further sour relations with President Donald Trump.

Reuters

Crude Oil

EIA: US Crude Stocks Rise As Fuel Inventories Draw Down

U.S. crude stocks rose by 6.3 million barrels in the week to Oct. 19, compared with analyst expectations for an increase of 3.7 million barrels, according to an EIA report.

Reuters

Crude Oil

EIA: US Crude Stockpiles Rise For Fourth Straight Week

Oil prices sunk on the news from the EIA of rising crude stockpiles, with U.S. crude futures slipping through $70 a barrel for the first time in nearly a month.

Reuters

Construction

McDermott Awarded EPC Contract For CB&I Storage Tanks

Deal in South Texas is the fourth-largest project for this customer.

Regulation

Japan's Kyushu Electric Restricts Renewable Energy Supplies For First Time

Japan's Kyushu Electric Power Co said on Oct. 15 it restricted third-party solar power supplies over the weekend, marking the first time a Japanese utility has curbed the use of renewable energy to avoid a sudden blackout.

Reuters

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