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Oil started the week with a gain, after an Iranian missile attack caused damage to the Haifa refinery in Israel over the weekend, prompting a partial shutdown, Israeli media reported, saying the facility remained operational. per barrel, with West Texas Intermediate at $73.77 per barrel.
(Investing) –HOUSTON – The price spread between WTI Midland crude in West Texas and Houston has narrowed this year as cold weather hurt Permian production, driving up prices, but weaker refinery and export demand on the U.S. That compared to an average of 50 cents a barrel a year ago, when record crude production at the top U.S.
“Notwithstanding the around 1 million-barrel-a-day increase in production quotas between March and June, an actual increase in production is hard to detect,” analysts including Martijn Rats said in a June 9 note. million barrels a day this year, outpacing global demand growth of about 800,000 barrels a day.
He outlined Iraq's major achievements in the oil and gas sector, including: Adding 380,000 barrels per day to refining capacity. Meanwhile, the government is progressing with a 700 km, 56-inch oil pipeline from Basra to Haditha, supporting domestic refineries and export capacity.
His five-year tenure coincided with a dramatic downturn in production, with Nigerias output of almost 2 million barrels per day dropping to almost half that amount as oil majors exited onshore wells plagued by persistent security issues.
million net acres and more than 2 billion barrels of oil equivalent (Boe) in undeveloped resources. The condensate produced is used in refineries, petrochemical plants, or as diluent, and requires stabilization before transport — usually handled at facilities operated by MPLX (Cadiz), Williams (Scio), or Ergon Inc.
That limits the need for refinery capacity, which matches the regions average annual consumption and is only outstripped in the summer months. In todays RBN blog, well look at how PADD 4 dispenses these barrels and its role in balancing continental crude oil supply and demand.
As a landlocked country, our oil supply is largely via pipelines and intermediaries, added Dr. Gyrgy Bacsa, COO of MOL Hungary. Based on the well tests carried out prior to March 2025, the well is currently proven to be capable of producing 1,200 bpd, which is transported by truck to the Danube Refinery in Szzhalombatta.
This came during the general assembly meeting of the Middle East Oil Refinery (MIDOR), attended by the Minister of Petroleum and Mineral Resources, Karim Badawi, to discuss and review the companys fiscal year results in 2024. Butane production also increased by approximately 40%, covering approximately 5% of local market needs, as Lotfy said.
According to the results, the well located in the Somogysmson oilfield is capable of producing 1,200 barrels per day. As a landlocked country, our oil supply is largely via pipelines and intermediaries. During the exploration drilling carried out in December 2024, oil was found at a depth of 1,250 meters.
per barrel, while WTI dropped 28 cents to $70.12 per barrel, following a $2 decline on Friday. million barrels per day (bpd) in 2024 to 13.6 The terminal will load up to 1 million barrels per day onto the worlds largest tankers, boosting U.S. million barrels Summary : U.S. million barrels to 432.5
This was part of a global 20% increase in production, fueled by: The Pioneer Natural Resources acquisition Continued development in the Permian Basin Structural cost savings and operational efficiencies Permian production alone helped add 767,000 barrels of oil equivalent per day (boe/d) to Exxons total output, a significant portion of its 4.55
Pipeline vandalism, militant attacks on infrastructure, protests and lawsuits are among the issues that have plagued Nigerias oil industry for years. billion barrels of proven oil reserves as well as 5.675 trillion cubic metres of natural gas, which explains why the supermajors are not too tired of their problems in Nigeria.
While the price-per-barrel of oil has recovered since the staggering lows of 2016, its down again from earlier 2019 highs, and may not reach $100/barrel any time soon. Similarly, accidents from pipeline leakage to oil spills can incur large fines and significant reputational damage.
However, in late 2024, the Matterhorn Express pipeline came online, adding 2.5 This pipeline has significantly reduced flaring, stabilized natural gas prices at the Waha hub, and enabled higher oil production by ensuring gas associated with oil drilling can be transported efficiently. Gulf Coast refineries. MMBbl/d , a 0.3
(Note: TC Energys (formerly TransCanada) Keystone pipeline is not to be confused with the companys proposed Keystone XL pipeline a separate pipeline project that was defeated and cancelled two separate times under Pres. 20: February 6, 2019: Keystone pipeline spills 1,800 gallons in St. Obama and Pres. 30 spill. #21:
(BOE Report) – China has emerged as the top customer for Canadian oil shipped on the expanded Trans Mountain pipeline, ship tracking data showed, as a U.S. trade war has shifted crude flows in the year since the pipeline started operating. via pipelines that run north-south. The C$34 billion ($24.40
Summary : The IEA reports that global crude supply is exceeding demand by 600,000 bpd, pushing oil prices toward the $60-$80 per barrel range, with U.S. refinery shutdowns of 400,000 bpd are contributing to the surplus. bcfd, negative Waha Hub prices caused by pipeline maintenance, and mild weather forecasts through April.
Canada ships about 4 million barrels of crude to the U.S. per day via pipeline, mainly to Midwest refineries. Canadian energy minister Jonathan Wilkinson told Reuters that Canada could impose non-tariff measures such as restricting oil exports to the U.S. or levying export duties on minerals, if U.S. tariffs persist.
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