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

Acquisitions & Divestitures , Mergers , Storage , Pipelines

Williams Acquires NorTex Midstream in $423 Million Deal

Natural gas pipeline and storage assets serve Dallas-Fort Worth region.

September 8, 2022

Liquefied Natural Gas , Natural Gas , Storage

Natural Gas Price Primed to Break Record, Even if Winter is Mild

Low inventories and high demand for U.S. LNG from Europe could force gas prices into the double digits for an extended period, analyst says.

September 6, 2022

Natural Gas , International , Storage

Russia Deepens Europe's Energy Squeeze with New Gas Halt

German regulator Klaus Mueller shared that the country is now better prepared for any power outages due to its efforts to store more natural gas.

August 31, 2022

Petrochemicals , Crude Oil , Storage

US Crude, Fuel Stockpiles Shrink While Gasoline Demand Drops: EIA

The crude oil inventory decline would have been larger if not for another big release of barrels from U.S. Strategic Petroleum Reserve (SPR). 

August 24, 2022