Oil Pipeline

Dmitry Peskov, Kremlin spokesperson on Friday, said that Russia does not seek to undermine U.S. interests in the Caspian Pipeline Consortium. He was answering a question regarding comments made by several Russian experts on state television, who suggested that Russia should stop oil deliveries via the CPC to Kazakhstan as a response to Washington sanctions against Russia. CPC, in which U.S. oil giants ExxonMobil and Chevron are major shareholders, exports oil from a Russian port on the Black Sea. Peskov said in a daily press conference that "along with our American partners, we also have Kazakh partners." Despite everything, Russia...

Canada's Trans Mountain Oil?pipeline is expected to be?almost completely full in April. This marks an important milestone for the conduit, which has seen a record-breaking level of usage since the C$34 billion expansion last year. The 890,000-barrel-per-day pipeline, which carries oil from the province of Alberta to British Columbia's west coast, is running near maximum capacity, said Trans Mountain ?CEO Mark Maki. Maki stated that the Iran War has caused disruptions in Middle East oil supply, which have led to an increase in demand for Canadian oil, particularly from Asian buyers, including China. Maki stated in Houston, at the CERAWeek...

Trans Mountain, a Canadian company, launched a?bidding process? on Wednesday to secure firm transportation contracts for its pipeline system. The "Open Season", a process to gauge interest from the commercial community in possible projects to increase system capacity, runs from April 7 through June 2. The company stated that the Open Season will result in 80 to 90 percent of its 890 000?barrels a day (bpd), pipeline system, being contracted. This includes shipments between Edmonton, Alberta, and delivery locations in British Columbia. The Canadian government owns the 'Trans Mountain Pipeline,' which transports oil from Alberta to British Columbia on the...

The U.S. has granted another waiver to Serbia's Russian owned NIS Oil Company, which allows crude imports until the sale of the company?to Hungary MOL is completed. NIS operates a single oil refinery for Serbia in Pancevo. It supplies the Balkan nation with 80% of its fuel requirements. In October, the U.S. Office of Foreign Assets Control imposed sanctions against NIS as part of "broader measures" targeting Russia's oil and gas sector in response to Moscow's conflict in Ukraine. In December last year, the?OFAC granted NIS until 24 March to negotiate the sale?of majority stakes?held by Russia’s Gazprom and Gazprom....

These are the most popular stories from the Wall Street Journal. These stories have not been?verified' and we cannot vouch for their accuracy. In a swift reversal that left U.S. Allies in shock, the Trump Administration went from opposing the biggest-ever intervention on oil markets to cajoling its allies into moving ahead with the maneuver within a few hours. A federal judge issued a preliminary restraining order to Amazon earlier this week, preventing Perplexity from using its Comet browser to access password protected parts of Amazon's site to make purchases on behalf of an?human client while the case is pending...

The company that is behind a plan for a revival of the Keystone XL?pipeline?system in order to increase Canadian oil exports into?the United States hopes a 'North -American policy shift towards energy development' will shield its project from political and regulatory obstacles which led to its cancellation by 2021. Bevin Wirzba, CEO of Canadian pipeline operator South Bow, said that the world has changed significantly since U.S. president Joe Biden canceled Keystone XL's permit after years of Indigenous and environment opposition. Wirzba stated that the policy environment in North America has been much more positive. He said that the war...

Canadian 'pipeline operator South Bow announced?on Thursday that it had launched a formal open season? to seek?binding long-term shipping commitments? for a revival?of part of the Keystone XL?oil pipeline. This move could boost Canada’s crude _exports?to the United States?by more than 12%. Open season runs until March 30. Transportation commitments are sought from Hardisty in Alberta to the United States. Delivery points. South Bow will then?conduct a?60-day review before deciding the next steps. The company awaits a decision from the Trump Administration on whether or not to approve 'the project. If approval is granted, additional pipeline links would need to...

Investors are betting that disruptions to Middle East oil supplies will be brief. This optimism, however, may not be justified. The third day of conflict has not yet caused any damage to the oilfields in the region, but the inability of fuel to be shipped out of the Gulf has already put a strain on a global energy system that is tightly interconnected. Each day of disruption increases pressure on both producers and consumers, causing bottlenecks in the Middle East for exporters and a worsening of shortages elsewhere. The oil prices rose by more than 10% on Monday, reaching the...

Targa Resources, a pipeline operator, beat its fourth-quarter estimates for adjusted core profits on Thursday. This was due to higher demand and transport volumes of natural gas liquids as well as natural gas. U.S. Natural Gas Futures jumped more than 11% in a single quarter, ending a decline that began in the second quarter. Midstream companies benefit from the strong oil and natural gas production of the Permian Basin. They also see a rise in natgas exports, and an increase in power generation linked to AI and data centers. Targa has announced plans to construct a 275 million cubic foot...

On Thursday, Targa Resources, a pipeline operator, beat Wall Street expectations for its fourth-quarter core profit. This was due to increased demand as well as higher volumes of transporting natural?gases and natural gas liquids through their systems. U.S. Natural?Gas?Futures increased more than 11% sequentially during the fourth quarter. This was due to higher demand and an increase in pipeline volumes. Targa, Kinder Morgan and other midstream companies are benefiting from the strong oil and natural gas production of the Permian basin, the rising demand for?natgas driven by the liquefied gas exports, and the soaring electricity generation linked to AI operations,...

EIG Global Energy Partners hired PJT Partners as an advisor on how to structure a 'new fund' for its stake in Saudi Aramco oil pipeline assets, as the vehicle that holds it is nearing expiry. Sources said that the so-called continuation funds would allow U.S. infrastructure investors to keep the Aramco stake they bought in 2021 for a longer period of time and bring in new investors. EIG, PJT Partner?and Aramco didn't immediately respond to a comment request. A continuation fund allows a company to continue ownership of an asset after the fund's initial?lifecycle. Firms can sell assets when funds...

California's Attorney General announced on Friday that the state is suing the Trump administration because it asserted federal authority over two state pipelines and allowed Sable Offshore to resume pumping oil. This lawsuit is part of a dispute that has been raging between Sable and California officials for a while over a 'drilling project' off the coast Santa Barbara, which was shut down after an oil spill in 2015. This is one of the many conflicts between U.S. president Donald Trump, a Democrat, who wants to boost domestic 'fossil-fuel production', and California Governor Gavin Newsom. Newsom is a Democrat, but...

Two market sources say that the closure of Russia's Baltic Port of Ust-Luga after a drone strike?on Wednesday may force major refineries in Europe to reduce crude oil runs because of shipping restrictions. Sources and social media reports claim that the strike caused damage to a rail deloading rack at the Ust-Luga Terminal. The Ust-Luga bottleneck threatens oil processing in four of the largest refineries in 'the European part of Russia - Kirishi Yaroslavl Moscow and Ryazan. According to traders, they process around 55 million metric tonnes of crude oil each year (400,000 barrels a day). On Wednesday, the?Ust-Luga Oil...

Officials said that Hungary sent a fact finding?mission to Ukraine on Wednesday to investigate the Druzhba?pipeline?outage. Budapest is looking to restart the?flows?of oil amid rising global prices linked to the Middle East war. Since January, when oil flow stopped in the Druzhba Pipeline, Budapest and Kyiv have been locked in a diplomatic conflict. Viktor Orban has given a prominent place to his anti-Ukrainian rhetoric in his campaign for an April 12 election. Hungary blocked a new EU sanction against Russia, as well as a large loan to Ukraine due to the dispute. In a recorded Facebook statement, Gabor Czepek, the...

Viktor Orban, Hungary's prime minister, called for the European Union on Monday to suspend sanctions on Russian energy and convened a government emergency meeting.to address rising fuel costs.just five weeks prior to a pivotal election. The war in Iran has fueled a rise in oil prices that have pushed up diesel and petrol costs in Hungary. Orban is now facing a challenge as he prepares for parliamentary elections on April 12, where he will be fighting to maintain his 16-year hold on power. Orban's Fidesz is trailing the centre-right Tisza despite having launched a series of measures that have increased...

Hungary's MOL imported 35,000 tons (of Ukrainian crude) via the Druzhba Pipeline at Kyiv’s request, according to executive chairman Zsolt Hernadi of commercial television station ATV. This was after a fire and strike near the Druzhba Pipeline in late January. Ukrainian officials in the industry did not respond immediately to a comment request. Since January 27, oil shipments through the pipeline to Hungary and Slovakia, the only European Union nations still importing Russian crude, have been suspended following what Kyiv claims was a Russian assault on pumping stations in western Ukraine. Hungary and Slovakia claim that Ukraine has blocked the...

The Russian Foreign Ministry's Maria Zakharova accused Ukraine of a threat to Europe's energy security by stopping the flow of?Russian crude oil through the Druzhba pipeline into Hungary and Slovakia. Ukraine says that the pipeline has still not been repaired after being damaged by Russian air strikes in late January. On Monday, in another incident, Kyiv's drones hit a Russian pumping station servicing the same.pipeline. Hungary blocked this week new EU sanctions against?Russia, and an EU loan for Ukraine in response to the oil shutdown. Zakharova said that the inaction of Brussels is surprising because the blockage by Ukraine of...

The United Kingdom sanctioned the oil pipeline operator Transneft as part of its package of almost 300 measures on Tuesday. It announced its "largest" set of sanctions to coincide with 'the fourth anniversary of Russia invading Ukraine. The Russian government claimed that Transneft was a major pipeline company in the world and transported more than 80% the crude oil exported by Russia. The goal was to cut further into Moscow's revenues from energy. The West has imposed thousands of sanctions against Russia, including on its oil sector. However, this has not resulted in a significant reduction of Russian oil exports....

Robert Fico, the Slovak prime minister, said that his country's electricity grid operator will refuse any Ukrainian requests for an emergency supply of electricity from Monday onwards until oil flows resume through the Druzhba Pipeline. This escalates a dispute over?the crude. The announcement comes after European Ministers in Brussels failed to convince Slovakia and Hungary to drop their threats to punish Ukraine over the delay in restarting the flow. Since January 27, Ukraine has cut off the flow of Russian oil into Slovakia and Hungary. Ukraine claims that a Russian drone struck pipeline equipment in Western Ukraine. Ukraine has said...

Hungary's foreign minister announced on Friday that it will not approve a 90 billion-euro (106?billion dollars) EU loan to Ukraine unless the country resumes oil deliveries via?the Druzhba Pipeline. Budapest had previously said that it would use strategic reserves to address a shortage. Hungary and Slovakia have been working to ensure supply of Russian oil since January 27, when flows were stopped following what Ukraine claimed was a Russian drone strike that damaged pipeline infrastructure. Both countries blame Ukraine for the delay in resuming flows due to political reasons. On Thursday, we requested the comments of the Ukrainian Foreign Ministry...

Energy Minister Dubravka Djedovic Handanovic announced on Friday that the U.S. Treasury Department had 'extended' a sanctions waiver for Serbian-owned NIS until March 20. This gives?the Balkan nation?another?month?to import crude oils. In October, the U.S. Office of Foreign Assets Control imposed sanctions against NIS as part of wider measures targeting Russia's energy sector in response to Moscow's conflict in Ukraine. Djedovic handanovic, in a press release, said that "NIS is now able to import crude oils... and continue to supply the market with crude oil products." In December last year, the OFAC granted?NIS a deadline of late March for the...

In a Wednesday interview, Aleksandar Vucic stated that Serbia was diversifying its energy sources away from Russia. The country is already in discussions to purchase natural gas through a European Union buying mechanism. Over 80% of the country's natural gas comes from Russia. The EU is trying to cut down on cash flowing to the Ukraine war chest of President Vladimir Putin. Last year, Serbia was unable to sign a long-term agreement with Russia's Gazprom. A short-term agreement reached in December will expire on March 31. Vucic stated that he understood EU policies towards Russian energy. He said, "We have...

Aleksandar Vucic, President of Serbia, said that the Russian-owned NIS refinery in Serbia, sanctioned by the United States, would be operational as early as 'January 17 or 18, after it received a temporary license. The Office of Foreign Assets Control of the U.S. Treasury Department granted NIS on Wednesday a temporary operating license until January 23. This will allow it to resume its production after a 36 day?break. The US has given NIS - which owns Serbia’s only oil refinery - until 24 March to negotiate the sale of its Russian shareholders' stake. Vucic, speaking to reporters in Belgrade, said:...

Energy Minister said on Wednesday that the U.S. granted Serbia's majority-Russian refiner NIS a licence to operate until January 23. This will allow it to resume its production after a 36-day hiatus. After a series of waivers since January, the Office of Foreign Assets Control of the U.S. Treasury Department imposed sanctions against NIS as part of broader actions against Russia's Energy Sector in October. Dubravka Handanovic, Serbia's Energy Minister, posted on Wednesday evening: "Great news for the end the year. The US OFAC has granted the NIS company a licence to operate up until 23 January. The refinery in...