Oil Pipeline

U.S. President-elect Donald Trump's strategy to impose 25%. tariffs on Canadian and Mexican imports in his first day in. office does not exempt crude oil from the trade charges, two. sources knowledgeable about the plan informed Reuters on Tuesday. Trump on Monday vowed big tariffs on Canada and Mexico. up until they secured down on drugs, particularly fentanyl, and. migrants crossing the border, in a relocation that would appear to. violate a free-trade offer under the U.S.-Mexico-Canada pact. Trump's tariff dangers are broad and consist of oil. imports, the two sources said, both including that Trump often. takes an aggressive...

Donald Trump's transition group is creating a wideranging energy bundle to roll out within days of his taking workplace that would authorize export licenses for brand-new liquefied gas (LNG) tasks and increase oil drilling off the U.S. coast and on federal lands, according to two sources familiar with the plans. The energy checklist mainly reflects assures Trump made on the campaign path, however the strategy to present the list as early as the first day guarantees that oil and gas production will rank together with immigration as a pillar of Trump's early agenda. Trump, a Republican politician, also plans to...

Plains All American Pipeline has actually accepted pay $72.5 million to settle a claim over the 2015 Refugio Beach oil spill in Santa Barbara, a filing revealed on Tuesday. The spill occurred after a pipeline, which ran across California's coastline, burst and spilled an estimated 126,000 gallons of oil into the ocean and on the beaches. In 2020, the California State Lands Commission and insurance firm Aspen American Insurance had taken legal action against Plains All American - the operator of the failed pipeline - declaring negligence, willful misbehavior, and disturbance with potential economic benefit. The state of California will...

TC Energy reported a. thirdquarter earnings ahead of analysts' price quotes on Thursday as. it transported more natural gas through its pipelines in the. United States, sending out the business's shares up 1.5%. The U.S. Energy Info Administration said gas. intake in the United States would rise from a record 89.1. billion cubic feet each day (bcfd) in 2023 to 90.1 bcfd in 2024. TC Energy said the boost in North America's natural gas. demand was due to greater LNG exports, coal plants being retired. along with emerging demand from information centres associated with. artificial intelligence operations. Incomes from TC...

Pipeline operator TC Energy's. thirdquarter revenue beat Wall Street estimates on Thursday,. assisted by higher volumes of liquids carried through its. system. U.S. imports of petroleum from Canada reached a record in. July, benefiting pipeline firms such as TC Energy. Furthermore, the U.S. Energy Details Firm said gas. intake in the United States would increase from a record 89.1. billion cubic feet per day (bcfd) in 2023 to 90.1 bcfd in 2024. Quarterly earnings from TC Energy's U.S. gas. pipelines, its largest segment, increased to C$ 1.33 billion ($ 957.66. million) from C$ 782 million a year previously. The company...

U.S. pipeline operator Williams Companies beat third-quarter revenue estimates on Wednesday by one cent, assisted by increased service incomes and higher flows of natural gas liquids. Greater operating costs and lower net recognized item sales from upstream operations weighed on incomes, causing the narrow beat. The U.S. Energy Info Administration, previously this month, said that it expects gas consumption to increase from a. record 89.1 billion cubic feet each day (bcfd) in 2023 to 90.1. bcfd in 2024. In addition, like a number of its peers, Williams is pinning. its hopes on the increased need for expert system. boom-driven data...

Targa Resources surpassed Wall Street's price quotes for thirdquarter core profit on Tuesday, gaining from increased volumes of gas and natural gas liquids transferred through its pipelines. U.S. pipeline operators are seeing robust demand for their facilities as oil and gas production continues to climb up in the Permian Basin, which accounts for half of the country's petroleum output. Targa's total quarterly gas sales volumes were up 3%. to 2.84 billion British thermal systems each day (BBtu/d) from the. previous year, while total gas inlets for processing. rose 18% in the Permian Basin. Gas liquid (NGL) pipeline transportation volumes. were...

Enbridge published a more than twofold jump in its thirdquarter profit on Friday, as the Canadian pipeline operator took advantage of stable oil need. Data from the U.S. Energy Info Administration showed that overall U.S. oil intake rose in July to the greatest seasonal level because 2019. Demand for fuel was also at the greatest seasonal levels considering that 2019, whereas jet fuel need the greatest for any month considering that August 2019. Enbridge's mainline system transported 2.96 million barrels each day in the quarter, while its adjusted core earnings rose 3.2%. to C$ 1.35 billion, assisted by greater tolls....

Canadian Natural Resources is taking over more space on the broadened Trans Mountain pipeline from an unit of PetroChina, improving its ability to ship crude to markets after purchasing possessions from Chevron, Bloomberg News reported on Monday, citing a person familiar with the matter. Previously this month, Chevron accepted sell its properties in the Athabasca oil sands and Duvernay shale development to Canadian Natural Resources for $6.5 billion. The 20-year agreement will boost Canadian Natural Resources' space on the pipeline by about 75% to roughly 164,000 barrels per day (bpd), according to the report. The just recently broadened Trans Mountain...

Oil output in North Dakota, the thirdlargest producing state in the U.S., is estimated to have actually fallen by around 500,000 barrels through October, after wildfires crossed into essential producing counties previously this month, a state regulator said on Thursday. Exxon Mobil was amongst operators that recently shut in some oil wells and production websites in the state in response to the fires. My finest price quote is around 500,000 total barrels removed from those October numbers, said Justin Kringstad, director of the North Dakota Pipeline Authority. There were around 100,000 barrels per day (bpd) impacted in the immediate reaction...

A U.S. appeals court on Friday put on hold approvals and permits essential to enable a Kinder Morgan subsidiary to build a 32mile gas pipeline in Tennessee, at the urging of ecological groups. The proposed Cumberland Job, set to be built by Kinder Morgan's Tennessee Gas Pipeline, might transfer about 245,000 dekatherms daily of additional gas to power provider Tennessee Valley Authority. On a 2-1 vote , Cincinnati-based 6th U.S. Circuit Court of Appeals put a. hang on the Tennessee Department of Environment and. Conservation's order releasing a water quality accreditation and. the Army Corps of Engineers' issuance of a...

The North Dakota Pipeline Authority stated on Tuesday oil production is approximated to be down almost 60,000 to 90,000 barrels of oil daily (bpd) due to the continuous wildfires in the U.S. state. It is the third-largest oil producing state in the nation, responsible for an output of 1.161 million bpd since July, according to data from the U.S. Energy Info Administration. Associated wellhead natural gas production today is estimated to be down 0.17-0.26 billion cubic feet per day ( bcfd), Justin Kringstad, the director of the North Dakota Pipeline Authority, said in an emailed reaction. The state has been...

The following are the top stories in the Wall Street Journal. Reuters has actually not confirmed these stories and does not vouch for their precision. - U.S. satellite television service provider DirecTV said on Thursday it had ended its contract to acquire Echostar's. satellite tv service, which includes rival Dish TV,. over a stopped working debt-exchange offer. - U.S. President-elect Donald Trump is considering picking Kevin. Warsh as his Treasury secretary with the understanding that he. could later on be chosen to lead the Federal Reserve when Jerome. Powell's term as chair ends in 2026. - U.S. President-elect Donald Trump...

The budget plan committee of Russia's parliament on Thursday approved to increase to 40% from 20% the tax on earnings of stateowned oil pipeline monopoly Transneft starting from 2025. Transneft's shares in Moscow fell by more than 10% after tax rise was authorized throughout a live-streamed committee meeting. Russia is seeking to raise taxes as it needs to fund its military project in Ukraine. A major tax reform is anticipated to create additional profits worth 1.7% of GDP in 2025. Financial experts argue this will not be enough. Deputy financing minister Alexei Sazanov told the committee that the taxes are...

Three industry sources said that Kazakhstan's largest oil field Tengiz operated by U.S. giant Chevron has reduced its oil production by about 21% in average since October 26. This is equivalent to 496,200 barrels of oil per day. As a member OPEC+ (an alliance between OPEC, other top producers, and Russia), the Central Asian nation is bound by output targets. The decline in production may allow Kazakhstan to meet its output quota as part of an agreement with OPEC+. According to one source, the maintenance on the field has led to a decline in production. Tengiz's operator did not respond...

Two market sources said that Novatek, a Russian energy company, launched its new gas condensate processing unit in the Baltic Sea Port of Ust-Luga at the end of August. The new refinery unit can process 3 million tons of gas condensate per year. This liquid feedstock is similar to crude oil. It is then processed into jet fuel, gasoil, heavy naphtha and fuel oil. Novatek didn't immediately respond to an inquiry for comment. Novatek opened the Ust-Luga Complex in 2013, with two refinery units, to process gas produced by its Arctic fields. It also ships oil products and gas condensate...

Russia may hold back oil export cuts for its western ports in October or even increase loadings, regardless of set up rise of readily available primary oil refining capability at regional oil plants which makes it possible for Moscow to increase crude runs, market sources stated. I expect a little rise in Russia's oil exports in October - by several hundred thousand (metric) tons. I question that all the repair work will be completed on time, while the circumstance with oil plants in Russia's south is unclear yet, an industry source said. Russia's primary oil refining capacity is expected to...

Russian business, primarily Tatneft, have actually boosted oil exports to Slovakia and Hungary to replace materials lost after Ukraine sanctions halted exports from Moscowbased Lukoil, Kommersant paper stated on Thursday. Lukoil was prohibited by Kyiv from utilizing the part of the Druzhba, or Friendship, pipeline that goes through Ukrainian territory, partially providing Hungarian and Slovakian refineries. The two landlocked nations alerted of possible fuel lacks from September unless an option was found. Hungarian energy company MOL has still not received required oil volumes, including for the Slovnaft refinery in Bratislava, Kommersant reported, mentioning unnamed sources. Tatneft did not respond immediately...

Slovakia and Hungary on Friday rebuffed a European Commission recommendation that they might replace lost Russian oil supplies via an alternative path through Croatia saying it was too expensive. Products from Russia's biggest oil exporter Lukoil through Ukraine were stopped in July following a ban by Ukrainian authorities on Lukoil utilizing the Druzhba pipeline, which connects Russia to eastern Europe. Hungary and Slovakia earlier this month asked the European Commission to step in and moderate as the threatened their security of supply. But they are declining the European Commission's proposition to usage spare capability on the JANAF Adriatic pipeline in...

Hungary and Slovakia have threatened to take Ukraine to court for blocking materials of oil by Russian manufacturer Lukoil through the Sovietbuilt Druzhba (Relationship) pipeline, the last remaining path for Russian crude to Europe. The following sets out the relevant realities. RUSSIA'S REMAINING OIL LINK TO EUROPE After Moscow's invasion of Ukraine in 2022, the European Union (EU), which used to purchase up to a third of its fuel from Russia, enforced sanctions and stopped buying Russian oil. Nevertheless, it offered 3 member states - Hungary, Slovakia and the Czech Republic - exemptions from sanctions because of their dependence on...

Kremlin spokesman Dmitry Peskov on Friday called interruptions in Russian oil transit via Ukraine a crisis for the affected oil buyers, but said there was little scope for talks with the Ukrainian transit companies due to the fact that the choice had actually been political. Slovakia and Hungary have actually said they stopped getting oil from a key supplier, Russian business Lukoil, after Ukraine last month prohibited the transit of resources from the Russian energy company by means of its territory. Russia continues to supply gas and oil to Europe by means of Ukraine regardless of the war in Ukraine,...