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U.S. Crude Stockpiles Slump, Gasoline Builds Amid Winter Storms – EIA

Conventional Energy, Energy Storage, Energy Topics & Technology, Latest, Oil / By

U.S. crude oil stockpiles slumped while gasoline inventories jumped last week after winter weather hit crude production and imports, refining, and demand for fuel, the Energy Information Administration said on Wednesday. Crude inventories fell by 9.2 million barrels to 420.7 million barrels in the week ending Jan. 19, the EIA said, compared with analysts’ expectations …

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Canada’s Trans Mountain Pipeline to Start up in Second Quarter

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

Trans Mountain Corp will begin line fill in February on its long-delayed Canadian oil pipeline expansion and expects it to be in service in the second quarter, a company executive said on Wednesday. The C$30.9-billion ($23.05 billion) expansion will nearly triple the flow of crude on Trans Mountain from Alberta to Canada’s Pacific Coast but …

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Electricity in the Depths of Winter – ENERGYminute

Electricity Grid, Energy Topics & Technology, Latest, Renewable Energy, Solar, US News, Wind / By

Wind turbines when it’s -30°C: Courtesy of GIPHY Consumers in wealthy nations have come to expect a perfectly reliable supply of electricity. Anything less feels almost unimaginable. However, with much of Canada and US, currently experiencing a cold snap often referred to as “winter”, how are electricity and grid operators adapting to keep the heat …

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US Oil Refiners’ Weekly Capacity Seen Down 178,000 Bpd -IIR

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

Reuters U.S. oil refiners are expected to have about 1.9 million barrels per day (bpd) of capacity offline for the week ending Jan. 26, decreasing available refining capacity by 178,000 bpd, research company IIR Energy said on Wednesday. Offline capacity is expected to further fall to 1.58 million bpd in the week ending Feb. 2, …

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OPEC’s Mission for 2024 is Looking Even Tougher

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

International Energy Agency data shows the cartel and its allies may need to restrain supplies all year. OPEC’s mission to defend oil prices this year is starting to look even harder. The cartel and its allies launched new production cuts this month to stave off a global oil surplus, and group leader Saudi Arabia said …

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Energy Transfer: Dakota Access Oil Pipeline Won’t Shut after Environmental Study

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

Energy Transfer does not expect the U.S. Army Corps of Engineers to shut down the Dakota Access oil pipeline (DAPL) after a long-pending environmental review of a section that runs under a lake and is opposed by nearby Native American tribes, Executive Chair Kelcy Warren said on Tuesday. A U.S. court in 2022 ordered the …

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$144B of Transactions in Recording-Setting 4Q23 for Upstream M&A

Energy Topics & Technology, Latest, Mergers and Acquisitions, Press Releases / By

ExxonMobil and Chevron lead the charge to secure future resource, but will this historic consolidation continue? CALGARY, Alberta (January 23, 2024) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company, is releasing its summary of Q4 and full-year 2023 upstream merger and acquisition (M&A) activity. Q4 recorded a massive …

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More U.S. Energy Deals Likely in 2024 in Wave of Consolidation

Energy Topics & Technology, Latest, Mergers and Acquisitions, US News / By

The U.S. energy sector has entered a new phase of consolidation as the industry went on a $250-billion buying spree in 2023, and experts see more transactions on the horizon. The majority of energy executives polled in December by the Federal Reserve Bank of Dallas expected more oil deals worth $50 billion or higher to …

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U.S. Department of Justice Preparing Legal Brief as Both Sides Appeal Line 5 Decision

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

WASHINGTON — The U.S. government has been asked to explain to a federal appeals court precisely how it believes the country’s 1977 pipeline treaty with Canada should impact efforts to shut down the controversial cross-border Line 5. A forthcoming Department of Justice brief will mark the Biden administration’s first public foray into the long-running dispute …

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Gas Station Owner Sunoco to Buy NuStar Energy for $7.3 Billion

Energy Topics & Technology, Gasoline, Latest, Mergers and Acquisitions, Pinned Primary, US News / By

Move comes after Sunoco sold convenience stores to 7-Eleven Deal would add crude oil transportation and storage for Sunoco Sunoco LP, a US gas station owner, agreed to acquire pipeline and fuel storage company NuStar Energy LP for about $7.3 billion in a move to diversify its business and buy up a key part of its supply …

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