Conventional Energy

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Kinder Morgan to Invest $4.7 Billion in Two Gas Pipeline Projects as Demand Surges

Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, Pipelines, US News / By

  US pipeline operator Kinder Morgan said on Wednesday it has approved a total of $4.7 billion as its share of investments in two major natural gas pipeline joint ventures, citing rising demand from power plants, data centers and LNG exporters. The projects helped lift Kinder Morgan’s natural-gas project backlog to a record level, underscoring …

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Two Killed After Drone Intercepted Near Saudi Aramco’s Shaybah Oilfield

CDN and International News, Conventional Energy, Latest, Oil / By

(Reuters) – Two people were killed after Saudi air defences intercepted a drone that was attempting to hit a facility at Saudi Aramco’s Shaybah oilfield on Wednesday, the energy ministry said. The incident comes amid an escalation of missile strikes by Yemen’s Iran-aligned Houthis on the kingdom. The incident caused a fire in a vehicle …

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AMERICAN ENERGY SNAPSHOT: Beyond Hormuz – The Pressures Keeping Fuel Markets Tight

Conventional Energy, Energy Topics & Technology, Gasoline, Latest, LNG, Oil, US News / By

By API – American Petroleum Institute Middle East crude exports have approached pre-war levels in recent weeks as producers and shippers find ways to keep oil moving. But the recovery has been uneven, and global energy markets continue to face significant volatility with attacks on tankers increasing again in October. But fluctuations in Middle East oil …

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US Crude and Gasoline Stocks Fall, Distillates Rise, EIA Says

Conventional Energy, Energy Storage, Energy Topics & Technology, Gasoline, Latest, Oil, US News / By

(Reuters) – US crude and gasoline stocks fell last week, while distillate inventories rose, the US Energy Information Administration said on Wednesday. Crude inventories fell by 3.06 million barrels to 412.5 million barrels in the week ended October 16, the EIA said, compared with analysts’ expectations in a Reuters poll for a 820,000-barrel draw. Crude …

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Saudi Crude Oil Exports Hit Five-Month High in August, Data Shows

CDN and International News, Conventional Energy, Latest, Oil / By

(Reuters) – Saudi Arabian crude oil exports in August rose by about 7.9% from July to 4.451 million barrels per day, the highest level since March, data from the Joint Organizations Data Initiative showed on Wednesday. The exports rose even as oil production fell to a record low of 6.24 million bpd from 8.135 million …

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Phillips 66 Locks Out Union Workers at New Jersey Refinery After Contract Expires

Conventional Energy, Energy Topics & Technology, Latest, Oil, Refineries, US News / By

(Reuters) – Phillips 66 has barred nearly 400 union workers from its Bayway refinery in Linden, New Jersey, after the collective bargaining agreement and an extension of the contract expired. The labor dispute at Bayway, the largest refinery on the U.S. East Coast, comes as gasoline and diesel prices remain elevated amid disruptions to global …

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North Dakota Oil Companies Speed Up Well Completions as Prices Rise, State Regulator Says

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Oil, US News / By

(Reuters) – US oil and gas companies are accelerating well completions and boosting production in North Dakota, the nation’s third-largest oil-producing state, encouraged by high crude prices, state officials said on Tuesday. “Operators are acting more quickly to move wells to production to capitalize on elevated oil prices,” Richard Suggs, a geologist with North Dakota’s …

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North Dakota Oil Production Up 3,000 bpd in August vs July to 1,161,000 bpd – State Regulator

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Oil, US News / By

(Reuters) – Oil production in North Dakota rose 3,000 barrels-per-day (bpd) to 1,161,000 bpd in August, monthly data from the state Industrial Commission showed. Bakken and Three Forks oil production stood at 1,133,000 bpd in the month. The data was released on the North Dakota Industrial Commission’s general statistics webpage and has been rounded to …

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Asian Refiners Use Smaller Tankers, Buy Delivered Crude as Freight Rates Soar

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, Refineries / By

(Reuters) – Asian refiners are turning to options such as using smaller tankers and vessels on long-term charter, and buying Middle East crude on delivered basis to cut feedstock costs as freight rates hover near records, company officials said. Spot rates for oil tankers hit all-time highs in early October as Middle East producers ramped …

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Oil Majors Face Spending Test From Iran War Windfall Cash

Conventional Energy, Latest, Oil, US News / By

(Reuters) – Oil majors are set to post a big jump in third-quarter profit as the US-Israeli war on Iran has boosted refining and trading results, while investors will monitor how wisely they use their cash piles and whether they resist a spending spree. The severe disruption of the Strait of Hormuz since US-Israeli airstrikes …

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