Energy

Pipe(line) dreams - by Matt Miller

Pipelines are big business and even bigger geo-politics. Just ask Russia’s President Vladimir Putin who without much fanfare cancelled the “South Stream,” one of the world’s largest pipeline projects. And there is the controversial Keystone XL pipeline project, which elicits a continental divide of opinions in the US congress. Dreams for new pipelines abound but political realities dampen prospects.

BP reaches $18.7 billion settlement over deadly 2010 spill

Reuters | July 03, 2015 | Energy

BP Plc will pay up to $18.7 billion in penalties to the U.S. government and five states to resolve nearly all claims from its deadly Gulf of Mexico oil spill five years ago in the largest corporate settlement in U.S. history. Read More »

Brazil government expects Petrobras to lose key oil rights

Reuters | July 03, 2015 | Energy

Brazil's government expects a bill ending state-run Petrobras' dominant role in key offshore oil areas to pass Congress, reversing one of President Dilma Rousseff's signature policies, a source told Reuters on Thursday. Read More »

Record Singapore fuel oil trades congest port, snarl loadings

Reuters | July 03, 2015 | Energy | Maritime | Ports & Terminals | Ports | Wet Bulk Port

Buyers trying to load record fuel oil volumes traded last month in Singapore are congesting the port's oil terminals, while land tanks are nearly full and tens of millions of barrels of marine fuel are being held in ships, traders and shipbrokers said. Read More »

Tanker arrivals create volatility in U.S. oil stocks

Reuters | July 03, 2015 | Energy | Maritime | International Trade

U.S. crude stocks unexpectedly rose by almost 2.4 million barrels last week, breaking a run of eight consecutive weekly declines and sending oil prices sharply lower. Read More »

BP to Settle Federal, State and local Deepwater Horizon claims for up to $18.7 Billion

AJOT | July 02, 2015 | Energy | Maritime | International Trade

Five years on from the Deepwater Horizon accident and spill in 2010, BP has reached agreements in principle to settle all federal and state claims arising from the event. Read More »

Statoil, Lithuania to develop Baltic Sea LNG supply business

Reuters | July 02, 2015 | Energy | Liner Shipping

Norway’s Statoil and Lithuania’s Lietuvos Energija plan to join forces to develop a small-scale liquefied natural gas (LNG) supply operation, competing with Finnish gas utility Gasum. Read More »

Union Pacific imposing hefty surcharge on older crude railcars

Reuters | July 01, 2015 | Energy | Rail and Road | Intermodal | Rail

Union Pacific Corp will impose a $1,200 per-car surcharge on oil shippers that move crude in older railcars, the company told customers this week, becoming at least the second U.S. railroad to charge extra amid widespread safety concerns. Read More »

Ultra-light condensate could be niche for West Texas rail

Reuters | July 01, 2015 | Energy | Rail and Road | Intermodal | Rail

A surge in West Texas oil pipeline startups and expansions has squeezed viability of some crude-by-rail terminals in the region, but increased output of ultra-light condensate could give them a niche pipelines cannot fill, a top rail operator in the region said on Wednesday. Read More »

Saudi’s Bahri to buy five more oil tankers from Hyundai Heavy

Reuters | July 01, 2015 | Energy | Maritime

National Shipping Company of Saudi Arabia (Bahri) has signed a deal to buy a further five very large crude tankers from ship builder Hyundai Heavy Industries, the exclusive oil-shipper for Saudi Aramco said on Wednesday. Read More »

Colonial allocates Cycle 39 shipments on main gasoline line

Reuters | July 01, 2015 | Energy | Pipeline

Colonial Pipeline Co is allocating space for Cycle 39 shipments on Line 1, its main gasoline line, according to a notice sent to shippers on Wednesday. Read More »

Arctic oil rig departs Seattle-area port despite protest

Reuters | June 30, 2015 | Energy | Maritime

U.S. Coast Guard and police boats cleared a way through protesters in kayaks at a Seattle-area port on Tuesday so Royal Dutch Shell’s second of two Arctic drilling rigs could depart for Alaska. Read More »

U.S. activists to protest against Shell Arctic oil rig

Reuters | June 30, 2015 | Energy

U.S. environmental activists said they planned to protest on Tuesday against the launch of the second of two oil rigs central to Shell’s plans to drill for oil in the Arctic. Read More »

Statoil awards $890 mln North Sea contract to Samsung Heavy

Reuters | June 30, 2015 | Energy | Maritime

STATOIL-SAMSUNG HEAVY/NORTH SEA (UPDATE 1):UPDATE 1-Statoil awards $890 mln North Sea contract to Samsung Read More »

Brazil’s Petrobras slashes spending to cut debt, restore confidence

Reuters | June 29, 2015 | Energy

Brazil’s state-run oil company Petrobras slashed its long-term spending plan to the lowest level in eight years on Monday as new management moved to reduce the industry’s largest debt burden and restore confidence after a devastating corruption scandal. Read More »

Brazil’s Petrobras slashes 5-year spending plan by 41%to $130.3 billion

Reuters | June 29, 2015 | Energy | International Trade

Brazil’s state-run oil company Petrobras slashed its long-term spending plan to the lowest level in eight years on Monday as new management moved to reduce the industry’s largest debt burden and pull the company out of a giant corruption scandal. Read More »

U.S. West Coast refiners snap up Russian crude cargoes

Reuters | June 24, 2015 | Energy

Refiners on the U.S. West Coast and Hawaii have stepped up purchases of Russian crude, taking advantage of a narrow gap between U.S. and global prices to guard against a seasonal shortage of Alaskan supply, trade and industry sources said. Read More »

Norway rig workers agree wage deal, avoid strike

Reuters | June 24, 2015 | Energy

Norwegian offshore oil rig workers signed a new wage deal on Thursday, avoiding a strike that could have cut energy production, labour unions said. Read More »

Cheniere Sabine Pass LNG U.S. export terminal to get first natgas soon

Reuters | June 24, 2015 | Energy

Cheniere Energy Inc will get the first supplies in the coming weeks to test the Sabine Pass liquefied natural gas export terminal in Louisiana, industry sources said Wednesday. Read More »

Colonial allocates cycle 37 shipments on main distillate line

Reuters | June 24, 2015 | Energy | Pipeline

Colonial Pipeline is allocating Cycle 37 shipments on Line 2, its main distillate line, according to a notice sent to shippers on Wednesday. Read More »

U.S. West Coast refiners snap up Russian crude cargoes

Reuters | June 24, 2015 | Energy | Refinery

Refiners on the U.S. West Coast and Hawaii have stepped up purchases of Russian crude, taking advantage of a narrow gap between U.S. and global prices as they look to guard against a seasonal shortage of Alaskan supply, trade and industry sources said. Read More »