Magellan Midstream Partners LP reported a drop on July 29 in its second quarter crude transportation and terminals revenue, hit by lower fees for its services and a decline in storage demand.
In the short term, higher gas prices will encourage power generators to run gas-fired turbines for fewer hours over the next few months, running coal-fired units instead, to reduce gas combustion.
The crude oil build in the U.S. was “obviously” a surprise driven by a surge in imports and a plunge in exports, says analyst John Kilduff.
Marshall Adkins, managing director and head of energy at Raymond James, shares why the fundamentals of oil have never been better than now plus his outlook for U.S. shale producers.
Crude oil inventories in the U.S. fell by 7.9 million barrels in the week to July 9, far more than analysts’ expectations for a decrease of 4.4 million barrels.
Breakwater Energy Partners expanded its Big Spring Recycling System into Martin County and is developing two additional commercial facilities in the Midland Basin, the company said on June 21.
Independent refined products terminals included about 6 million barrels of storage.
The Plains asset sale includes the Pine Prairie and Southern Pines energy centers, which were described as “two of the highest performing natural gas storage facilities in the U.S.”
TotalEnergies has signed a sale and purchase agreement on June 3 with Novatek to acquire 10% of Arctic Transshipment LLC, which owns and will operate two LNG transshipment terminals being built in the Murmansk and Kamchatka regions of Russia.
Williams has signed a memorandum of understanding (MoU) with Microsoft on June 3 to explore ways to transform one of the nation’s largest energy infrastructure networks through digital technology and innovation while advancing our net zero emissions goals.