A pipeline to America’s largest crude-oil hub is about to find itself in an unfamiliar position: not full.
One of the main pipelines that carries crude to Cushing, Oklahoma, will run at less than capacity in December for the first time in nearly two and a half years. The drop in supply coincides with the opening of a pipeline to Quebec, giving shippers the option of diverting some oil from the middle of the U.S.
“There will be less light sweet crude available to make its way to Cushing,” said Andy Lipow, president of Lipow Oil Associates LLC in Houston. “There’s going to be some significant rebalancing of where oil flows in North America.”
Russian oil producer Gazprom has almost halved the planned capacity of its TurkStream gas pipeline project, according to the company’s chief exec.
The expected capacity has been reduced from 63billion cubic metres (bcm) to 32bcm.
Chief executive Alexei Miller said Gazprom now plans to supply a smaller amount because it also wants to expand the Nord Stream gas pipeline which runs on the bed of the Baltic Sea to Germany.
Shell could delay deepwater drilling planned in New Zealand until next year.
According to reports the oil major and its two partners OMV and Mitsui E&P had been planning to drill a test well in the Great South Basin this year.
However the company has said it needs more time to evaluate the basin’s complex geology.
Oil major Shell has declared a force majeure and halted crude exports from a key terminal in Nigeria after a pipeline leak.
The company said the move was taken after a leak in the Trans Forcados pipeline which affected crude exports from one of the country’s main export points.
The terminal has the capacity to export up to 400,000 barrels a day.
Pipeline company Energy Transfer Equity (ETE) is set to buy Williams Cos in a deal worth $37.7billion.
Williams Investors will get $43.50 per share either in cash or stock of Energy Transfer Corp.
The potential deal first became public knowledge in June when Williams had rejected an offer from ETE which is said was too low.
John Bell Equipment has expanded its presence in Scotland with the opening of new offices in Grangemouth.
The pipeline equipment supplier said the facility will be used by four members of the sales team who originally worked in a subsidiary of the company.
TransCanada Corp, which divides its business between pipelines and power plants, reported higher second-quarter profit as electricity prices in Alberta rose and the company transported more fuel.
GE Oil & Gas will provide high-end turbomachinery for the first phase of the landmark Trans-Anatolian Natural Gas Pipeline (TANAP) - a partnership between BP, the State Oil Company of Azerbaijan (SOCAR) and Turkey's state-owned BOTA (Petroleum Pipeline Corporation).
Oil production in Nigeria is forecast to falter due to underinvestment according to analysis from research and consulting firm GlobalData.
Despite more than 37 billion barrels remaining in proven reserves the country faces challenges with need for reform and transparency to reverse this trend.
However Young Okunna, an upstream analyst covering Sub-Saharan Africa, said Nigeria’s gas sector could be rejuvenated by capitalising on the chance to rebuild investor confidence following the election of President Muhammadu Buhari.
Sempra Energy has been awarded a natural gas transportation contract in Mexico by the Comision Federalde Electricidad.
The company said the agreement had been signed with its Mexican unit, IEnova (Infraestructura Energetica Nova), through its subsidiary Gasoducto de Aquaprieta.
The project will comprise a header facility with a capacity of three billion feet per day of natural gas and a 14-mile pipeline with a capacity of 1,135 million cubic feet per day of natural
gas.
Twelve people died and three were injured in an explosion during repair work at an Eni SpA crude oil pipeline in Nigeria.
The victims worked on a maintenance team for a local service company, Rome-based Eni said in a statement Friday. The Tebidaba-Clough Creek pipeline in the Niger delta was previously “damaged by acts of sabotage.” The company said it is still investigating the cause of Thursday’s blast.
Solo Oil said the newly constructed gas export pipeline from the Songo Songo processing plant to the KN-1 gas well has been completed.
The KN-1 well, when connected to the export pipeline, is expected to produce at least 20 million cubic feet per day.
The company announced earlier this month that it has signed an asset purchase agreement with Aminex for the first 6.5% interest in the Kiliwani North Development licence.
Senate Democrats said Tuesday they’ll push amendments to legislation approving the Keystone XL pipeline requiring that it’s built with domestically produced steel and that the oil it carries is used in the US.
“The project now would simply pump American oil across the American heartland -- not to be used here -- but to be shipped overseas,” Senator Charles Schumer of New York, the Senate’s third-ranking Democrat, said at a news conference.
With polls showing a majority of voters supporting Keystone, Democrats have sought to undermine its purported benefits to the US.
Victoria Oil and Gas said Gaz Du Cameroun (GDC) has completed laying pipeline to the boundaries of the ENEO Power Station at Bassa and Logbaba.
The 20 MW Bassa Power Station is located a short distance from the company’s operating northern pipeline.
TransCanada Corp.’s Keystone XL pipeline faces one less hurdle after Nebraska’s highest court cleared its path through the state, sending the matter back to Washington.
The pipeline would funnel crude from Alberta’s oil sands to a network junction in southeast Nebraska, for transport to Gulf Coast refineries.
While the ruling is a victory for energy independence proponents, the project’s fate remains uncertain.
The Shell Petroleum Development Company of Nigeria Limited (SPDC) has agreed a £55million settlement with the Bodo community.
Shell’s Nigerian subsidiary has made the payment in respect of two operational spills in 2008.
The SPDC said the compensation will provide an individual payment for those affected who agree to the settlement payment totalling £35million.
President Barack Obama will not sign a bill introduced that would approve the Keystone XL oil pipeline, his spokesman said, as a top Democratic supporter urged the administration to seek a compromise.
A bill to sidestep an agency review was the Republican’s first legislation introduced as they took control of both the House and Senate for the first time since 2007.
The measure has enough sponsors to pass but not enough to override a veto.
Canadian operator Enbridge shut down one of its pipelines after a leak at the Regina Terminal in Saskatchewan.
A release from the line within the on-site pumping station had been reported.
A spokesman said there was no impact to the public, wildlife or waterways following the incident.
Australia is keen to develop a potential $1.1 billion natural gas project that’s been described as a “pipeline to nowhere.”
APA Group, the nation’s largest gas pipeline owner, has signaled its interest in building the project linking the Northern Territory with east-coast markets.
The federal government sees it as a way to ease a looming shortage.
BG Group has agreed to sell its Australian pipeline business for $5billion to the APA Group.
The subsidiary, QCLNG Pipeline, owns a 543 kilometre underground pipeline network which links BG group’s natural gas field in southern Queensland to a two-train export facility.
It was constructed between 2011 and 2014 and has a value of $1.6billion.
Oil and gas contractor Saipem said it was not given formal notice the South Stream Offshore Pipeline contract would be scrapped.
Russia said the 40 billion euro pipeline link to Europe was to be dropped due to tension between the European Union and Moscow over the crisis in Ukraine.
President Vladimir Putin said Russia scrapped a proposed $45 billion Black Sea pipeline to carry gas to Europe, the latest sign economic ties with the European Union are breaking down as the Ukraine crisis persists.
Shelving the South Stream project ensures pipelines through Ukraine will remain vital supply links to Europe for years to come.
The route under the Black Sea would have offered Russia’s OAO Gazprom a more direct path to feed the continent’s gas needs, a plan the EU objected to because it would reduce Ukraine’s leverage against its neighbor.
Gas explorer Arrow Energy has been given approval by the Austrailian government for its environmental impact assessment.
The company’s proposal for the central Queensland pipeline, which is expected to be about 500km long, will take coal seam gas (CSG) from Moranbah in the Bowen Basin to Gladstone.
