Storage

Petrochemicals , Crude Oil , Trade , International , Storage

What’s Affecting Oil Prices This Week? (Sept. 28, 2020)

So far in 2020 the oil market has seen Brent crude plummet, the U.S. lose 3 million bbl/d of crude production and European refiners more than halve utilization rates. However, as incredible as it seems, the worst might be yet to come, Stratas Advisors says in its latest oil price forecast.

September 28, 2020

Investment , Crude Oil , Shale Plays , Acquisitions & Divestitures , Tankers , Storage , Construction , Pipelines

Max Midstream to Develop New US Crude Export Hub Following Acquisition from Oaktree

The revitalized terminal is not only expected to connect the Port of Calhoun to both the Eagle Ford and Permian basins but also create more than 1,000 jobs in the Lone Star State, Max Midstream President Todd Edwards says.

September 24, 2020

Investment , Health, Safety & Environment , Emissions , Technology , Storage

Global Climate Goals ‘Virtually Impossible’ Without Carbon Capture, IEA Says

Up to to $160 billion investment in carbon capture technology is need by the growing number of countries and companies targeting net-zero CO₂ emissions by around 2050, the IEA says.

September 24, 2020

Petrochemicals , Crude Oil , Storage

US Oil Inventories Fall across the Board Last Week

Crude oil production slipped to 10.7 million bbl/d, down in part due to storm activity that closed offshore drilling sites in the U.S. Gulf of Mexico.

September 23, 2020

Liquefied Natural Gas (LNG) , Natural Gas , Storage , Pipelines

US Natgas Prices Jump over 10% from Seven-week Low

U.S. natural gas futures jumped over 10% on Sept. 23 from a seven-week low in the prior session as output continues to slide, demand edges up and LNG exports increase.

September 23, 2020

Restructurings , Public Capital , Exploration & Production , Enhanced Oil Recovery , Storage

Denbury Resumes Trading on NYSE after Emerging from Bankruptcy

Denbury will now focus on leveraging its expertise and strategic assets into an emerging carbon capture, use and storage business following completion of its financial restructuring, CEO Chris Kendall says.

September 22, 2020

Petrochemicals , Crude Oil , Trade , International , Storage

What’s Affecting Oil Prices This Week? (Sept. 21, 2020)

The first cut is the deepest…or not? OPEC+ will likely need to add oil output cuts soon, Stratas Advisors says in its latest oil price forecast.

September 21, 2020

Crude Oil , Trade , Storage

Oil Industry Paints Grimmer Picture of Pandemic’s Harm to Demand

OPEC cut its outlook for demand in 2020, saying world oil demand would fall by 9.46 million bbl/d this year, an increase of 400,000 bbl/d from its previous report.

September 15, 2020

Petrochemicals , Crude Oil , Trade , International , Storage

What’s Affecting Oil Prices This Week? (Sept. 14, 2020)

From Russia with...honesty—a surprisingly bearish outlook from Russian Energy Minister Alexander Novak provided evidence of cohesion in the extended OPEC+ agreement on oil production cuts.

September 14, 2020

Storage

DOE: Storm Damage at Oil Reserve Site Limited to Support Infrastructure

Other reserve sites will return oil to companies.

September 11, 2020