Crude Oil

NOLA Terminal on Mississippi Designed for Largest Crude Tankers Ever

NOLA Terminal on Mississippi Designed for Largest Crude Tankers Ever

NOLA Oil Terminal LLC has begun construction on the first phase of a $930 million oil and refined products terminal on the Mississippi River in Plaquemines Parish, LA. “NOLA Oil Terminal will be the first of its kind in the region, allowing Mississippi River access for much larger vessels, such as the New-Panamax and the…

December 10, 2021
Divide Grows Between Sweet, Sour Oil Prices as OPEC-Plus, Natural Gas Play Key Roles

Divide Grows Between Sweet, Sour Oil Prices as OPEC-Plus, Natural Gas Play Key Roles

Mounting output from the Organization of the Petroleum Exporting Countries (OPEC) and its allies and lofty global natural gas prices are widening the spread between sweet and sour crude prices, the U.S. Energy Information Administration (EIA) said Friday. While crude prices have recently come off 2021 highs in large part because of coronavirus resurgence concerns,…

December 3, 2021
U.S. Petroleum Demand Bounces Higher, Boosted by Gasoline Consumption, EIA Says

U.S. Petroleum Demand Bounces Higher, Boosted by Gasoline Consumption, EIA Says

U.S. petroleum demand jumped along with a continued rise in gasoline consumption, while domestic oil production held even, according to the latest federal data. Overall petroleum demand for the period ended May 14 jumped 10% week/week, the U.S. Energy Information Administration (EIA) said Wednesday. Gasoline demand, up substantially this year, increased 5% week/week to 9.2…

May 19, 2021

Enbridge Line 5 Still Moving Oil Across Straits of Mackinac as Mediation Continues

Oil was still flowing Thursday on Enbridge Inc.’s disputed dual-pipe Line 5 across the Straits of Mackinac after an inconclusive round Wednesday in the third court fight since 2018 over Michigan demands to turn off the 540,000 b/d conduit. No order emerged to enforce a Wednesday shutdown deadline set by Gov. Gretchen Whitmer from the…

May 13, 2021
Texas GulfLink Deepwater Crude Export Terminal Gaining Traction

Texas GulfLink Deepwater Crude Export Terminal Gaining Traction

A Sentinel Midstream LLC subsidiary said Monday it has received a draft environmental impact statement (DEIS) for the deepwater crude oil export facility planned off the coast of Freeport, TX. The U.S. Coast Guard and the U.S. Maritime Administration (MARAD) issued the DEIS for the Texas GulfLink project, a “critical step in the regulatory process…

November 30, 2020
Light Oil Production Making Up Larger Share of U.S. Refinery Inputs

Light Oil Production Making Up Larger Share of U.S. Refinery Inputs

Light oil production continues to grow in the United States, rising 7% over the last four years to 57% of the total 1.24 million b/d of crude produced in 2019, according to the Energy Information Administration (EIA). U.S. light oil production grew to 6.7 million b/d last year, up from 5.8 million b/d in 2018,…

September 9, 2020
Phillips 66 Seeking to Expand Gray Oak Southbound Crude Service from Permian

Phillips 66 Seeking to Expand Gray Oak Southbound Crude Service from Permian

Phillips 66 Partners is launching an open season Tuesday to gauge interest in additional crude oil transportation capacity from the Permian Basin to South Texas. The new takeaway capacity along the Gray Oak Pipeline would terminate in Victoria, 85 miles northeast of Corpus Christi. In-service is targeted in the first half of 2022. The 850-mile…

August 31, 2020
Shell’s LNG, Oil Demand Plunges in Covid-19 Rout, with Energy Impacts Still Uncertain

Shell’s LNG, Oil Demand Plunges in Covid-19 Rout, with Energy Impacts Still Uncertain

Royal Dutch Shell plc swung to a massive loss in 2Q2020, torn down by a historic loss in natural gas and oil demand, with CEO Ben van Beurden warning the long-term energy outlook remains uncertain as long as the global pandemic wreaks economic havoc. The Anglo-Dutch supermajor said the 2Q2020 current cost of supplies (CCS),…

July 30, 2020
Don’t Mess with Texas Oil and Natural Gas, Trump Tells Permian Crowd

Don’t Mess with Texas Oil and Natural Gas, Trump Tells Permian Crowd

President Trump rallied West Texas oil and natural gas workers on Wednesday afternoon during a visit to Midland, in the heart of the Permian Basin, touting American energy dominance and claiming the industry is not only back on track but expanding. The campaign speech of sorts came during a brief visit after the president toured…

July 30, 2020
North American Midstreamers Enterprise, Enbridge Find Success Beyond Liquids in Strong Quarterly Results

North American Midstreamers Enterprise, Enbridge Find Success Beyond Liquids in Strong Quarterly Results

The diversified systems of two of North America’s largest midstream companies were positioned for a solid second quarter in which lower oil volumes were partially offset by strength in natural gas, natural gas liquids (NGL) and storage. Enterprise Products Partners LP (EPD) and Enbridge Inc. reported second quarter results on Wednesday, with each company highlighting…

July 30, 2020
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