Storage

Investment , Energy Transition , Storage

Denbury Surpasses CO2 Deal Target with Massive Louisiana Project

With an agreement to transport and sequester CO₂ from a massive clean ammonia project in Louisiana, Denbury surpasses its CO₂ transportation deal target goal for 2022.

November 1, 2022

Natural Gas , Storage

US Natgas Hits 7-Month Low, Set for Ninth Weekly Loss

U.S. natural gas prices have plunged about 58% during the past nine weeks due to forecasts for mild weather, record output and low LNG exports.

October 21, 2022

Crude Oil , Trade , Storage

Biden to Lay Out Plan to Complete Emergency Oil Sales, Support US Production

Biden will also lay out a plan to refill the emergency reserve in the upcoming years, but only at prices at or below a range of $67/bbl to $72/bbl for WTI, the official said. Biden’s hope is to send a signal to both consumer and producers.

October 19, 2022

Liquefied Natural Gas , Natural Gas , Storage

Splinter is Coming: Gas Prices Likely to Spike Again as LNG Exports Grow

The EIA’s Winter Fuels Outlook explains why households will pay more for heating and the vulnerability of natural gas inventories to unexpectedly cold weather.

October 14, 2022

Petrochemicals , Crude Oil , Storage

US Crude Oil Stockpiles Surge; Distillates Draw Down: EIA

U.S. refiners have been running at above-average levels for this time of year to boost inventory levels, though they pulled back on activity last week.

October 13, 2022

Acquisitions & Divestitures , Storage

Martin Midstream Sells California Sulfur Terminal to Gulf Terminals

The asset sale on Oct. 10 included Martin Midstream’s Stockton Sulfur Terminal in California, which Gulf Terminals LLC agreed to acquire for approximately $5.25 million.

October 10, 2022

Crude Oil , Trade , Storage

US Sells Oil from Emergency Reserve to Marathon, Equinor, Others

First offered in September, the sale was part of President Joe Biden’s previously announced plan to sell 180 million barrels of oil from the reserve to fight high petroleum prices after Russia's invasion of Ukraine.

October 7, 2022

Exploration & Production , Natural Gas , Storage

Analysts Forecast ‘Wild Ride’ for LNG Production, Prices across US

Speaking at Hart Energy’s America’s Natural Gas Conference, East Daley analyst Zach Van Everen predicts gas markets will be oversupplied in the short term but believes exports will eventually drive production for decades.

October 3, 2022

Crude Oil , Trade , Storage

US to Sell Oil from Current SPR Release for November Delivery

President Joe Biden’s plan announced in March of the largest release of oil from SPR in history had aimed to sell 180 million barrels by the end of October. So far, only 155 million barrels have been sold.

September 19, 2022

Crude Oil , Trade , Storage

US Emergency Oil Reserves Tumble to Lowest Since 1984

The Biden administration is weighing the need for further SPR releases after the current program ends in October, Energy Secretary Jennifer Granholm told Reuters last week.

September 12, 2022