Crude Oil , Tankers , Storage

Fire Rages at Cuba Oil Terminal; Third Tank Collapses after Spill

Matanzas, where the fire broke out after an explosion on Aug. 6, is Cuba’s largest port for receiving crude oil and fuel imports. Cuba relies on oil to generate much of its electricity.

August 8, 2022

Energy Transition , Shale Plays , Storage

CapturePoint, Energy Transfer to Evaluate Haynesville Carbon Capture Project

CapturePoint Solutions and Energy Transfer's partnership is anticipated to capture millions of tons of CO2 emissions annually from the Haynesville shale to be permanently sequestered in its facilities.

August 5, 2022

Petrochemicals , Crude Oil , Storage

US Crude, Gasoline Stockpiles Rise Unexpectedly: EIA

“There’s nothing good in this report for anybody unless you’re waiting for things to fall apart and to be a buyer on the downside,” Bob Yawger, director of energy futures at Mizuho, said of the EIA report.

August 3, 2022

Energy Transition , Technology , Storage

Expanding Oxy’s Network of Carbon Sequestration Hubs Across the Gulf Coast

Oxy Low Carbon Ventures subsidiary 1PointFive will continue its carbon capture and sequestration hub expansion with the leasing of 27,000 acres of timberland from Manulife Investment Management in Louisiana.

August 3, 2022

Energy Transition , Technology , Storage

Technologies Proven to Increase Carbon Capture Across Industries

Three companies with proven CCS solutions explain how their technologies are at work today to reduce the carbon footprint of industrial operations including for Chevron in Bakersfield, Calif.

August 2, 2022

Crude Oil , Trade , Storage

US Emergency Crude Stockpile Falls to Lowest in 37 Years

The U.S. Strategic Petroleum Reserve (SPR) held about 618 million barrels last September and its stocks have declined due to sales from congressional mandates and Biden’s price initiative.

August 2, 2022

Crude Oil , Storage

US Crude Stockpiles Drop as Exports Surge to Record High: EIA

The decline in U.S. crude oil inventories was in large part the result of a surge in crude exports to a record 4.5 million bbl/d in the latest week.

July 27, 2022

Crude Oil , Trade , Storage

DOE to Begin Replacing Sold SPR Barrels in Fall

The U.S. Department of Energy will soon propose a rule to help put oil back into the SPR, where levels have sunk to 475.5 million barrels, the lowest since June 1985

July 26, 2022

Petrochemicals , Crude Oil , Storage

US Crude Stockpiles Dip, Gasoline Builds as Demand Slackens: EIA

“The demand destruction is only still two weeks but sufficient to say it’s there. That's the big takeaway,” analyst John Kilduff, said after U.S. gasoline inventories posted a larger-than-expected build on weakened demand.

July 20, 2022

Petrochemicals , Crude Oil , Storage

US Crude Oil, Fuel Stockpiles Rise as Demand Slackens: EIA

“Today’s inventory stats and overall builds in crude and products are indicative of investor worries on the overall economy,” said Tony Headrick, energy markets analyst at CHS Hedging, following the EIA report.

July 13, 2022