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Huge backlog could trigger new wave of shale oil

3 hours ago DieselGasoil Comments Off on Huge backlog could trigger new wave of shale oil
The number of drilled but uncompleted wells (DUCs) in the US shale patch has skyrocketed by roughly 60 percent over the past two years. That leaves a rather large backlog that could add a wave of new supply, even if the pace of drilling begins to slow. The backlog of DUCs has continued to swell, Read More

Canadian oil surge fails to lift producers out of the doldrums

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By Kevin Orland on 1/20/2019 Photo: Whitecap Resources. CALGARY (Bloomberg) — Alberta’s crude curtailment plan has caused a dramatic rise in the price of heavy Canadian oil. But for shares of energy companies, it hasn’t been as much of a help. Since the production curtailment was unveiled early last month, Western Canadian Select crude has Read More

Saipem has been awarded two new offshore contracts from Saudi Aramco for $1.3 billion

11 hours ago DieselGasoil Comments Off on Saipem has been awarded two new offshore contracts from Saudi Aramco for $1.3 billion
1/20/2019 Saipem 7000. Photo by Alf van Beem. MILANO, Italy — Saipem has been awarded two EPIC contracts (Engineering, Procurement, Installation, Construction) assigned by the client Saudi Aramco for a total amount of approximately $1.3 billion as part of the Long Term Agreement for offshore activities in Saudi Arabia, renewed in 2015 and in force Read More

How OPEC is helping U.S. oil reach a tipping point

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By Julian Lee on 1/20/2019 Photo: OPEC building. NEW YORK (Bloomberg Opinion) — The U.S. Energy Information Administration has published its first detailed monthly oil forecast for 2020 and it shows something that should strike fear into the hearts of OPEC ministers — from the fourth quarter, America will export more oil than it imports. Read More

Canadians cry oil crisis as pipeline problem grows worse

1 day ago DieselGasoil Comments Off on Canadians cry oil crisis as pipeline problem grows worse
Sixty percent of Canadians now feel that the country’s oil pipeline capacity has reached crisis levels, according to a new survey from the Angus Reed Institute. Pipeline takeaway capacity has bitten into Canada’s oil revenues as Canada’s Western Canadian Select benchmark price continues to trade at an uncomfortable discount. An astonishing 70 percent of all Read More

66 killed as pipeline explodes after fuel theft

2 days ago DieselGasoil Comments Off on 66 killed as pipeline explodes after fuel theft
At least 66 people have died and 76 others injured after a pipeline breached by fuel thieves exploded triggering a massive fire in central Mexico. Hundreds of people had been trying to fill up containers at the time of the blast in Hidalgo state, 60 miles north of Mexico City. Footage from the scene showed Read More

21 killed as pipeline explodes after fuel theft

2 days ago DieselGasoil Comments Off on 21 killed as pipeline explodes after fuel theft
At least 21 people have died and 71 others injured after a pipeline breached by fuel thieves exploded triggering a massive fire in central Mexico. Hundreds of people had been trying to fill up containers at the time of the blast in Hidalgo state, 60 miles north of Mexico City. Footage from the scene showed Read More

Buckeye Partners, L.P. to Release Earnings and Hold Conference Call for 2018 Fourth Quarter and Full Year Financial Results

3 days ago DieselGasoil Comments Off on Buckeye Partners, L.P. to Release Earnings and Hold Conference Call for 2018 Fourth Quarter and Full Year Financial Results
HOUSTON, Jan. 18, 2019 (GLOBE NEWSWIRE) — Buckeye Partners, L.P. (“Buckeye”) (NYSE: BPL) is scheduled to release its 2018 fourth quarter and full year earnings on February 8, 2019. Interested parties are invited to listen to the conference call on the 2018 fourth quarter and full year financial results. About Buckeye Partners, L.P. Buckeye Partners, Read More

Tellurian's Driftwood LNG gets final environmental nod

3 days ago DieselGasoil Comments Off on Tellurian's Driftwood LNG gets final environmental nod
FILE PHOTO: The logo of Tellurian Inc is seen in its booth at Gastech, the world’s biggest expo for the gas industry, in Chiba, Japan April 4, 2017. REUTERS/Toru Hanai (Reuters) – Tellurian Inc’s proposed Driftwood liquefied natural gas (LNG) project in Louisiana took a major step forward on Friday as the U.S. federal energy Read More

Buckeye Partners, L.P. Announces Closing of Sale of Its Equity Interest In VTTI B.V.

3 days ago DieselGasoil Comments Off on Buckeye Partners, L.P. Announces Closing of Sale of Its Equity Interest In VTTI B.V.
HOUSTON, Jan. 18, 2019 (GLOBE NEWSWIRE) — Buckeye Partners, L.P. (“Buckeye”) (NYSE: BPL) announced today that it completed the sale of its equity interest in VTTI B.V. (“VTTI”) to Vitol Investment Partnership II Ltd and IFM Investors for cash proceeds of $975 million.  The proceeds from the sale will be used to pay down debt. Read More