Gulf Coast – Oil & Gas 360

Global crack spreads remain low amid slow oil demand recovery and high stocks

October 8, 2020

EIA In its latest Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) estimates that third-quarter 2020 global liquid fuels consumption averaged 94.2 million barrels per day (b/d), an increase from the second quarter but significantly lower than the same time last year. The slow recovery has contributed to low gasoline and diesel crack spreads and high petroleum product stocks in three major

U.S. LNG loading delays expected as hurricane slams Gulf Coast

August 27, 2020

Reuters SINGAPORE – Loadings of liquefied natural gas (LNG) cargoes from the United States are expected to be delayed as a powerful storm strikes at the heart of the U.S. oil and gas industry on the Gulf Coast, forcing several LNG plants to shut. Hurricane Laura made landfall early on Thursday in southwestern Louisiana as one of the most powerful

Oil prices slip as Hurricane Laura makes Gulf Coast landfall

August 27, 2020

Reuters LONDON – Oil prices fell on Thursday as a massive hurricane in the Gulf of Mexico made landfall in the heart of the U.S. oil industry, forcing oil rigs and refineries to shut down. Brent crude LCOc1 futures for October, which expire on Friday, fell 50 cents, or 1.1%, to $45.14 a barrel by 1359 GMT. The more active

The Incoming Glut: Excessive Levels of Heavy Crude Supply in a Saturated Market

May 29, 2020

RarePetro Oil & Gas 360 Publishers Note: Kevin Olson has assembled great data points about the influx of fifty million barrels of foreign crude oil to the United States, and may offset most of the production cuts. Pushing out any kind of recovery on our producers. This brings up the question: Should Donald Trump, or Congress, get involved in eliminating

The Incoming Glut: Excessive Levels of Heavy Crude Supply in a Saturated Market

May 29, 2020

SEACOR Marine Announces Departure of COO - Oil & Gas 360

Galveston Company Enters Race to Supply IMO 2020 Fuels

August 28, 2019

From The Houston Chronicle With a massive shift in the marine fuel market just months away from implementation, a Galveston fuel storage operator says it plans to operate a 50,000 barrel a day crude processing facility to meet new stricter environmental regulations set to take affect in January. Texas International Terminals confirmed Wednesday reports from Reuters that it plans to

Court Affirms Alternative Keystone XL Oil Pipeline Route Through Nebraska

August 23, 2019

From Reuters A court in Nebraska on Friday affirmed an alternative route through the Midwest state for TC Energy Corp’s Keystone XL oil pipeline in the latest chapter in the nearly 10-year legal fight over the Canada to Texas pipeline. The ruling lifts one of the last outstanding legal challenges facing the controversial project, which would ship 830,000 barrels per

U.S. Oil Sector Sets Another Record in Another Sign of Energy Independence

August 21, 2019

From The Houston Chronicle The U.S. energy sector broke another record last year as the shale boom sent natural gas and petroleum production soaring. U.S. petroleum and natural gas production jumped by 16 percent and by 12 percent respectively in 2018, setting new production records, according to a new report from the U.S. Energy Department. The U.S. surpassed Saudi Arabia

U.S. Crude Stockpiles Fall, with Cushing Down for a Seventh Week – EIA

August 21, 2019

From Reuters U.S. crude oil stockpiles fell more than expected last week with supplies at the Cushing, Oklahoma hub dropping for a seventh week, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday. Crude inventories fell by 2.7 million barrels in the week to Aug. 16, compared with analysts’ expectations for a decrease of 1.9 million

Lotus Midstream Mulls Reversing West Texas to Cushing Pipeline – Sources

August 20, 2019

From Reuters Pipeline operator Lotus Midstream LLC may reverse flows on a line now sending crude from West Texas to Cushing, Oklahoma, the main hub for pricing U.S. crude futures, three people familiar with the matter said on Tuesday, an unusual move that could lift U.S. benchmark prices by draining supplies. Reversing the flow on a portion of Lotus’s Centurion

U.S. Oil Firms Challenge Pipeline Surcharge for Steel Tariff: Filing

August 20, 2019

From Reuters Two U.S. shale producers have challenged an energy pipeline operator’s proposed surcharge for the Trump administration’s 25% tariff on imported steel, raising the stakes for pipeline builders facing higher construction costs. The United States imposed tariffs on imported steel and aluminum last year to shield U.S. producers from overseas competition. U.S. energy industry trade groups have warned the

Tailwater-Backed Elevate Midstream Enters into Eight Year Agreement with Sabine Oil and Gas

August 19, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Elevate Midstream Partners enters into eight year gathering and treating agreement with Sabine Oil and Gas Elevate Midstream Partners LLC, a private company based out of Houston, has entered into an eight-year gas gathering and treating agreement with Sabine Oil and Gas Corporation, an independent E&P operating exclusively in Texas. The

Premium Content