Wednesday, April 23, 2025
DAPL Moves Towards Completion, “Keep it in the Ground” Gets Crazier

Oasis Midstream Prices IPO

$17/unit is below expected range Oasis Petroleum (ticker: OAS) announced the pricing of the IPO of Oasis Midstream Partners (ticker: OMP) today in the next step toward selling its initial units. Each share of Oasis Midstream will be issued at a price of $17/unit, with 7.5 million units on offer. The number of units may increase, as Oasis has granted

Russia set to pipe more oil to China, stepping up race with Saudis

From Reuters Chinese oil refineries are gearing up to receive more oil transported from Russia through an expanded Siberian pipeline network from January, likely cementing Russia’s position as China’s largest oil supplier in a close race with Saudi Arabia. The planned ramp-up in pipeline supplies agreed in contracts signed in 2013 comes amid a pledge by producers to cut output

Oil Traders Empty Key Crude Storage Hub

From Bloomberg Oil traders are emptying one of the world’s largest crude storage facilities, located near the southernmost tip of Africa, as the physical market tightens amid booming demand and OPEC production cuts. Total SA, Vitol Group and Mercuria Energy Group Ltd. are selling crude they hoarded in Saldanha Bay, South Africa, during the 2015-2016 glut when the market effectively paid traders to store oil,

Exxon:  Baytown, Beaumont Refineries Restart Fuel Production, Gulf Coast Petrochem Plants Resume Normal Operation

Offshore and on-shore upstream production operating normally: Exxon In a post-Harvey update, ExxonMobil (ticker: XOM) reported that its Baytown and Beaumont refineries have begun producing fuels at reduced rates, and that crude oil and refined product pipelines in the Gulf and other regions of Texas have restarted as recovery continues from Hurricane Harvey. Offshore production platforms in the Gulf of Mexico