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Tankers sought to store abundant LNG as traders wait for better prices

22 hours ago DieselGasoil Comments Off on Tankers sought to store abundant LNG as traders wait for better prices
By Anna Shiryaevskaya on 5/17/2019 Hudong-Zhonghua Shipyard’s 270,000 cbm LNG carrier design. Photo: DNV GL. LONDON (Bloomberg) — A long-established practice in oil trading, the complexity and cost of keeping natural gas in liquid form on ships for extended periods meant it wasn’t widely used until last fall, in anticipation of a surge in Chinese Read More

API NY responds to NESE water permit decision, essential for pipeline project

22 hours ago DieselGasoil Comments Off on API NY responds to NESE water permit decision, essential for pipeline project
5/17/2019 ALBANY — API New York released the following statement after the New York State Department of Environmental Conservation decision not to issue a water quality permit necessary to begin construction on Williams’ Northeast Supply Enhancement pipeline project. “While we are disappointed by the state’s decision, we remain hopeful that this critical infrastructure investment will Read More

Total eyed Anadarko asset for a year before $8.8 billion-deal

22 hours ago DieselGasoil Comments Off on Total eyed Anadarko asset for a year before $8.8 billion-deal
By Stephen Cunningham on 5/17/2019 Photo: Patrick Pouyanné, chairman and CEO of Total. WASHINGTON (Bloomberg) — Total SA had an eye on Anadarko Petroleum Corp.’s assets in Africa for over a year, Total CEO Patrick Pouyanne said. So, as Occidental Petroleum Corp. CEO Vicki Hollub raised the stakes in a bidding war for Anadarko with Read More

U.S. natural gas and oil industry turns in strong April performance

23 hours ago DieselGasoil Comments Off on U.S. natural gas and oil industry turns in strong April performance
5/17/2019 WASHINGTON — The American Petroleum Institute’s latest Monthly Statistical Report (MSR) shows U.S. crude oil production sustained a record-tying 12.1 MMbopd in April 2019 while total petroleum demand was the highest for the month since 2007 at 20.2 MMbpd. Other April highlights include: U.S. petroleum demand grew 1.2% year to year (y/y) in April. Read More

Crude oil aims for biggest weekly advance since early April, as Persian Gulf tensions grow

23 hours ago DieselGasoil Comments Off on Crude oil aims for biggest weekly advance since early April, as Persian Gulf tensions grow
By Jessica Summers on 5/17/2019 Photo: Gulfport Energy. NEW YORK (Bloomberg) — The global benchmark has risen more than 2% so far this week, while New York futures edged higher by 2.2%. Tensions in the Middle East are increasing as Saudi Arabia accused Iran of being behind the attack on its pumping stations. That follows Read More

LNG players weigh ship-storage gambit that backfired last winter

1 day ago DieselGasoil Comments Off on LNG players weigh ship-storage gambit that backfired last winter
By Anna Shiryaevskaya on 5/17/2019 LONDON (Bloomberg) — With so much cheap liquefied natural gas around, traders are again looking at tankers to store the fuel in the hope of better prices. A long-established practice in oil trading, the complexity and cost of keeping natural gas in liquid form on ships for extended periods meant Read More

Saudi pipeline attack highlights risk to Middle East oil exports, as tensions rise

2 days ago DieselGasoil Comments Off on Saudi pipeline attack highlights risk to Middle East oil exports, as tensions rise
By Salma El Wardany on 5/16/2019 Pipeline attacks, stock photo. CAIRO (Bloomberg) — Saudi Arabia accused Iran of ordering this week’s attack on key oil facilities, stoking concerns that the world’s largest oil-producing region is edging toward another war. Crude prices rose. Prince Khalid Bin Salman, the vice minister for defense and brother of Saudi Read More

Colorado Petroleum Council names Lynn Granger executive director

2 days ago DieselGasoil Comments Off on Colorado Petroleum Council names Lynn Granger executive director
5/16/2019 DENVER — API President and CEO Mike Sommers has named Lynn Granger executive director of the Colorado Petroleum Council. Granger joins the Colorado Petroleum Council from Colorado Concern, a leading business advocacy association in the Mountain West, where she served as COO. “Colorado is a cornerstone of America’s energy revolution, and Lynn possesses every Read More

KKR and Spur Energy Partners join forces to acquire production assets across the U.S.

2 days ago DieselGasoil Comments Off on KKR and Spur Energy Partners join forces to acquire production assets across the U.S.
5/16/2019 HOUSTON — Spur Energy Partners LLC and KKR, a leading global investment firm, has announced the formation of a partnership to acquire large, high-margin oil and gas production and development assets across the Lower 48. The companies also announced the signing of a definitive agreement to acquire the Permian Northwest Shelf assets of Percussion Read More