Oil

Oil

Global Partner’s plans could turn Albany into another Cushing

Source: 
Bloomberg

Albany, N.Y. could become an oil hub as significant as Cushing, Okla. if Global Partners LP is granted permission to pursue its expansion plans there, Bloomberg reports.

Oil

Watchdog warns of piracy upsurge in SE Asia

Source: 
Platts

The increase in pirate attacks on tankers operating in Southeast Asia could signal a new trend, the International Maritime Bureau warned Thursday, Platts reports.

Oil

New DOT oil train rules could trigger tank car shortage, industry warns

Source: 
Platts

Trying to phase out old DOT-111 tank cars within two years, as proposed in new Department of Transportation regulations, could trigger a shortage and hurt oil and ethanol production, industry officials warned, Platts reports.

Oil

Repsol looking to pick up Talisman assets

Source: 
The Wall Street Journal

Canada’s Talisman Energy has confirmed that it’s in talks to sell some of its assets to Spain’s Repsol, which analysts speculate may include interests in Marcellus Shale and Eagle Ford Shale, The Wall Street Journal reports.

Slow public alert after ND fire raises concerns

WILLISTON, N.D. (AP) — Officials need to improve communication with residents of North Dakota's booming oil patch during potentially dangerous situations, an emergency manager and residents said, after an oil field service supply facility storing toxic chemicals exploded this week and authorities failed to alert the public for more than six hours.

"They should have done more," Aaron Volesky, a resident of Williston, North Dakota said of the slow release of information. No one was injured or killed in the explosion and fire, which started about midnight Monday and raged most of Tuesday. Flights to and from the town of 20,000 people were canceled for several hours Tuesday as a plume of smoke shot hundreds of feet into the air.

Oil

Oil drifts down despite China manufacturing bounce

The price of oil fell Thursday, giving back part of its sizeable jump the day before, despite improvement in Chinese manufacturing.

Benchmark U.S. crude for September delivery was down 16 cents at $102.96 a barrel at 0650 GMT in electronic trading on the New York Mercantile Exchange. The contract gained delivery gained 73 cents to $103.12 on Wednesday after data released by the Energy Department Wednesday showed a drop in U.S. crude inventories that was more than double what analysts had expected.

Brent crude for September delivery, a benchmark for international oils, was down 14 cents to $107.89 on the ICE Futures exchange in London.

Oil

Freeport to focus on deep water in Gulf of Mexico

Source: 
Bloomberg

Freeport-McMoRan Inc. considers its best prospects for growth to be in deep water oil and gas fields in the Gulf of Mexico, vice chairman Jim Flores said Wednesday, adding that the company will likely sell off up to $5 billion worth of land-based assets to help pay for it, Bloomberg reports.

Oil

Oil gains on sharp drop in US supplies

The price of oil rose Wednesday after the government reported that U.S. oil supplies rose more than expected.

The benchmark U.S. oil contract for September delivery gained 73 cents to $103.12 a barrel on the New York Mercantile Exchange. Brent crude for September delivery, a benchmark for international oils, rose 70 cents to $108.03 on the ICE Futures exchange in London.

The Energy Department reported that U.S. oil supplies fell by 4 million barrels last week, a sharper decline than the 2.6 million barrels expected by analysts surveyed by Platts, the energy information arm of McGraw-Hill Financial.

Oil

Alberta regulator OK’s TransCanada’s new oil sands pipeline

Source: 
Platts

The Alberta Energy Regulator has granted TransCanada approval to construct the 56-mile, $785 million Northern Courier Pipeline, which will transport condensates and diluted bitumen, Platts reports.

Oil

Americans back more oil production, offshore drilling: API poll

Source: 
FuelFix

A Harris poll conducted for the American Petroleum Institute found 68 percent of those surveyed support offshore drilling, and Americans likewise back an increase in oil and gas production, FuelFix reports.

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