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IEA Sees Oil Market Improving Amid Sharp Drop in Production
May 18, 2020
The outlook for global oil markets has “improved somewhat,” with demand a little stronger than expected and supply reined in by a brutal price crash, the International Energy Agency said World oil production is on track for a “historic decline”
U.S. Energy Chief Forecasts Robust Future for Oil Demand
May 18, 2020
President Donald Trump’s top energy official said the oil industry is on its way back after suffering crippling losses from an unprecedented price collapse. SENATE ENERGY NOMINATION HEARING TO CONSIDER FEDERAL ENERGY REGULATORY COMMISSION AND DOE NOMINEES Dan Brouillette, deputy
Montana Federal Judge Decision May have Impact on Permian Highway Pipeline’s Permit
May 18, 2020
Montana Federal Judge Brian Morris’s ruling regarding the Keystone XL pipeline may slow construction for the Permian Highway Pipeline. Morris reaffirmed his decision vacating the U.S. Army Corps of Engineers’ Nationwide Permit 12 (NWP 12) in the Keystone XL case.
Energy Department to Purchase Crude Oil for SPR, Bids Accepted Until May 27
May 15, 2020
The U.S. Department of Energy (DOE) today released a Request for Proposals (RFP) to purchase up to one million barrels of sweet crude oil to test the oil market. The oil is for delivery to the Strategic Petroleum Reserve (SPR)
PHMSA Strikes Down Washington State’s Crude-by-Rail Safety Limits
May 15, 2020
The U.S. pipeline regulator late on Monday blocked an effort by Washington state to tighten vapor pressure restrictions on the transport of crude oil by rail, saying the measures would not lower the risk of explosions. The decision by the
Global Energy Megatrend to Acquire Magnolia LNG Export Project for $2.25 Million, Louisiana
May 15, 2020
A privately held energy infrastructure firm has agreed to buy Magnolia LNG from its parent, Australia’s LNG Limited, for $2.25 million, according to the voluntary administrators that were appointed to review the parent company’s assets. The transaction, announced Tuesday and
FERC Declines States’ Request for Moratorium on Pipeline Approvals
May 15, 2020
Federal Energy Regulatory Commission (FERC) Chairman Neil Chatterjee has rejected a request from several states to pause approvals for new energy infrastructure projects such as natural gas pipelines. Chatterjee, in a Tuesday letter to Virginia Attorney General Mark Herring (D),
Energy Spectrum Raises $969 Million for New Midstream Fund
May 15, 2020
Dallas, Texas-based Energy Spectrum Capital recently closed Energy Spectrum Partners VIII with capital commitments of $969 million. “The final close of Fund VIII enables us to continue wisely deploying capital on behalf of our limited partners, as we have done
Ring Energy to Sell Its Delaware Basin Asset for $31.5 Million, Texas
May 14, 2020
Ring Energy has entered into a purchase and sale agreement to sell its Delaware Basin asset located in Culberson and Reeves Counties, Texas. “Since formally announcing the marketing of our Delaware property in early November 2019, we have worked very
Empire Petroleum Acquires Producing Oil and Gas Assets from Pardus Oil & Gas, Texas
May 14, 2020
Empire Petroleum Corporation has acquired producing oil and gas assets and related midstream assets located in Houston, Madison, and Leon Counties in Texas. The assets were acquired from Pardus Oil & Gas. “We believe the Ft. Trinidad Field has tremendous
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