Oxy Low Carbon Ventures and Enbridge Inc. will leverage each other's strengths in a new partnership to develop, construct and operate a Texas Gulf Coast-based carbon sequestration facility and pipeline transportation system.
On Nov. 28, an approximated 3,500 gallons of lubricant oil from a Martin Energy Services secondary containment facility spilled near Calcasieu Point Landing, La.
Also supporting natural gas futures in the U.S. were worries about a possible rail strike that could disrupt coal shipments to utilities this winter, forcing power generators to burn more gas to produce electricity.
The decline in U.S. crude oil inventories last week was tempered by another release of barrels from the country’s strategic petroleum reserve (SPR).
The North American Electric Reliability Corp. (NERC) said that the lack of interconnections with other regions limited Texas’ ability to import power from other regions if problems arise.
Equitrans has estimated the size of the leak, which started on Nov. 6 at the facility in Cambria County’s Jackson Township, at about 100 MMcf/d, according to the Pennsylvania Department of Environmental Protection (DEP).
If approved by Congress, the request, issued by the White House on Nov. 14, provides the Department of Energy (DOE) with funding to improve the four SPR sites along the Texas and Louisiana coasts.
“The drawdown in crude supplies is substantial. The crude supply is still very tight, heating oil supply is still below average,” said Phil Flynn, senior analyst at Price Futures Group in Chicago.
Federal regulators also warned that the New England region faced its highest energy costs in more than 25 years this winter due to tight heating oil supplies and fierce competition for LNG.