US midstream company Energy Transfer is weighing a plan to store crude in idle pipelines as shippers scramble to find available storage. The company is looking for ways to idle two pipelines in Texas by “moving product around” and use them as storage space by mid-May, Energy Transfer told Argus today. The two lines would provide about […]Read more "Energy Transfer weighs crude storage in idle pipelines | Argus Media"
(Bloomberg) — Crude prices in America’s oil capital are getting dangerously close to zero.Buyers bidding for crude in Texas, the birthplace of the shale revolution, are offering as little as $2 a barrel for some oil streams, a precipitous markdown from a month ago. The slumping value of physical barrels — Read on finance.yahoo.com/news/texas-oil-2-barrel-raises-120000398.htmlRead more "Texas Oil at $2 a Barrel Raises Specter of Negative Prices | Bloomberg"
U.S. shale energy companies are cutting their spending levels in 2019, but they’re still planning on increased oil and gas output as the nation continues to hit new production records. Shale energy companies plan to cut their capital spending by 5 percent on average after crude prices plunged late last year, even though Big Oil […]Read more "U.S. energy companies produce more oil even as they cut spending"
Oil prices rise as API data reportedly show a surprise decline in U.S. crude supplies – MarketWatch — Read on http://www.marketwatch.com/story/oil-prices-rise-as-api-data-reportedly-show-a-surprise-decline-in-us-crude-supplies-2019-02-26Read more "Oil prices rise as API data reportedly show a surprise decline in U.S. crude supplies – MarketWatch"
NEW YORK (Reuters) – U.S. crude oil output is expected to rise 1.45 million barrels per day (bpd) this year and 790,000 bpd more next year, bringing total output to 13.2 million bpd, the Energy Information Administration said in a monthly forecast on Tuesday. U.S. oil production this year is forecast to be at a […]Read more "U.S. oil output to hit new record above 13 million bpd in 2020: EIA | Reuters"
Alaska has been in a recession for the better part of three years, and the state’s unemployment rate is the highest in the nation right now at 6.3 percent. Many sectors of the economy have been shedding jobs, but there are some signs that the losses are slowing. The state’s Department of Labor and Workforce Development released […]Read more "December jobs report shows modest growth in Alaska’s oil and gas industry"
Expanded Texas Shipping Lane Could Help Cut Trade Deficit By $50 Billion – Texans for Natural Gas — Read on http://www.texansfornaturalgas.com/texas_shipping_lane_cut_trade_deficitRead more "Expanded Texas Shipping Lane Could Help Cut Trade Deficit By $50 Billion – Texans for Natural Gas"
NEW YORK (Reuters) – Oil prices jumped nearly four percent on Monday after the United States and China agreed to a 90-day truce in a trade dispute and Canada’s Alberta province ordered a production cut, while exporter group OPEC looked set to reduce supply. Brent crude futures rose $2.23 to settle at $61.69 a barrel, […]Read more "Oil surges almost 4 percent on trade truce, expected supply cuts | Reuters"
U.S. natural gas exports to Mexico hit a new record amid sagging production south of the border. Mexico imported about 6 billion cubic feet of natural per day from the United States in August, the U.S. Energy Information Administration reported late Thursday afternoon. — Read on m.chron.com/business/energy/article/U-S-natural-gas-exports-to-Mexico-hit-new-record-13432621.phpRead more "U.S. natural gas exports to Mexico hit new record – Houston Chronicle"
WASHINGTON (Reuters) – The U.S. Environmental Protection Agency lifted its annual blending mandate for advanced biofuels by 15 percent for 2019, while keeping steady the requirement for conventional biofuels like corn-based ethanol, according to an agency document seen by Reuters on Thursday. The mandate includes 4.92 billion gallons for advanced biofuels that can be made […]Read more "Exclusive: EPA lifts advanced biofuel mandate for 2019 – document | Reuters"