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EIA: U.S. Crude Stockpiles Surge to Record High on Big Saudi Imports
June 15, 2020
US crude oil stockpiles rose unexpectedly last week to an all-time high as refiners boosted imports, particularly from Saudi Arabia, while exports dropped to lows not seen since November. The Energy Information Administration also said on Wednesday that refined product
Shell CEO Ben van Beurden Says LNG Market Will Recover to Pre-Virus Levels
June 15, 2020
Royal Dutch Shell Plc, the world’s largest liquefied natural gas trader, expects buying and selling of the fastest-growing fuel to recover to levels seen before the pandemic. Global LNG demand took a severe hit when nations imposed lockdowns to combat
Proposal Rejected to Ban Oil and Gas Exploration on Eastern Gulf Coast
June 15, 2020
Amid reporting that the administration of President Donald Trump is considering a move to open the waters off Florida’s coasts to oil and gas exploration if Trump is elected to a second term in November, U.S. Sen. Rick Scott, R-Fla.,
ConocoPhillips CEO Ryan Lance Surprised By Swift Recovery in Oil Prices
June 15, 2020
ConocoPhillips Chief Executive Officer Ryan Lance on Wednesday expressed surprise at the quick rebound in U.S. oil prices that slipped into the negative territory in April and said he expects prices to remain volatile in the near term. Oil is
Exxon Delays Beaumont Refinery Expansion Startup, Texas Gulf Coast
June 15, 2020
Exxon Mobil Corp. will delay the startup of its Beaumont refinery expansion on the Texas Gulf Coast by a year as the oil giant weathers low demand for petroleum products and seeks to save cash amid the COVID-19 pandemic, people
Trump Administration Cuts Oil and Gas Fees in Hundreds of Cases
June 12, 2020
The Trump administration has awarded energy companies hundreds of breaks on payments for oil and gas extraction from U.S. lands and the Gulf of Mexico during the coronavirus pandemic, according to a government database and federal officials. The temporary breaks
U.S. Refinery Activity on the Rise as World Starts to Reopen
June 12, 2020
As global coronavirus lockdowns begin to ease, US refinery rates are picking up steam. This is particularly important for US Gulf Coast refineries. Some of the world’s biggest and most sophisticated plants are located in the region and exports are
FERC Amends Rule Delaying Pipeline Construction During Appeals Process
June 12, 2020
Federal energy regulators will now delay the start of construction on energy infrastructure projects like pipelines until it makes determinations on requests to appeal its approvals. The instant final rule issued Tuesday by the Federal Energy Regulatory Commission (FERC) follows
Northern Oil and Gas to Acquire WPX Energy’s Williston Basin Properties for $1.5 Million
June 11, 2020
Northern Oil and Gas, has entered into a definitive agreement to acquire approximately 320 acres of core Williston Basin properties operated by WPX Energy. Total consideration at closing will consist of $1.5 million in cash for the acreage, subject to
EcoCatalytic Successfully Scales Up Ethylene Production Process, Reduces CO2 Emissions by Over 80%
June 11, 2020
EcoCatalytic Inc. has successfully scaled-up a new, lower environmental footprint process for the production of a key petrochemical building block. Commercialized, EcoCatalytic’s new process will reduce CO2 emissions for ethylene production by over 80 percent compared to conventional steam cracking.
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