Saudi Aramco, the world’s top oil producer, plans to issue its first international bonds in the second quarter of 2019, likely worth about $10 billion, Saudi Energy Minister Khalid al-Falih said last month.
Several midstream operators are building downstream projects, but Alerian’s Stacey Morris and Michael Laitkep caution that these moves are unlikely to become widespread.
The price is up as Mariner East 1 is cut off from Marcus Hook, but can it be sustained?
U.S. crude stocks at the Cushing, Okla., delivery hub rose by 1.4 million barrels last week, the EIA said.
Markets are looking past the vortex; NGL margins are on a roll.
Chevron, which reported an increase in shale production in the third quarter, has said it wants a second Gulf Coast facility to handle that crude and better supply its retail gasoline network.
An EIA report shows U.S. crude oil stockpiles rose less than expected last week due to a drop in imports, which helped offset the impact of a substantial drop in refining activity.
Exxon Mobil has given final approval to an expansion that would nearly double the size of its Beaumont, Texas, refinery, said Reuters citing undisclosed sources.
U.S. oil stocks rose by 8 million barrels in the week to Jan. 18, compared with analysts' expectations for a decline of 42,000 barrels, the EIA said.
Saudi Arabia plans to build an oil refinery and petrochemicals plant in South Africa as part of $10 billion of investments in the country, Saudi Energy Minister Khalid al-Falih said on Jan. 18 after talks with his South African counterpart.
