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Ukrainian forces hit and damaged the Moscow OilRefinery and a Druzhba oilpipeline facility in Oryol Oblast in a fierce overnight drone attack on Monday, the General Staff of Ukraine's Armed Forces has reported. According to the General
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. At the time of writing, Brent crude was trading at $74.83 per barrel, with West Texas Intermediate at $73.77
Israel’s OilRefineries said its pipelines and transmission lines in Haifa had been damaged by missile strikes by Iran, according to a regulatory filing to the Tel Aviv Stock Exchange.
(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. refinery utilization stood at 85.6% Gulf Coast pressured that market lower. A 10% tariff by the U.S.
As geopolitical tensions escalate, energy professionals are closely monitoring the situation’s impact on oil prices, market dynamics and long-term industry outlook. Targeted Strikes Rattle Oil Markets Recent attacks on Iranian energy facilities caused a spike in oil prices, with Brent crude rising about $10 per barrel in the past month.
Image by Cylonphoto via iStock The European Commission has proposed legislation to stop the importation of natural gas, oil and oil products from Russia into the European Union by 2027, betting on global liquefied natural gas (LNG) and increased regional infrastructure interconnectivity. billion cubic meters (473.22
(World Oil) –MOL has discovered a new oil field near Somogysmson in Western Hungary. During the exploration drilling carried out in December 2024, oil was found at a depth of 1,250 meters. As a landlocked country, our oil supply is largely via pipelines and intermediaries, added Dr. Gyrgy Bacsa, COO of MOL Hungary.
” The global oil market has been rocked in recent months by the move from eight core OPEC+ nations to relax supply restraints at a faster-than-expected pace, potentially adding supplies just as trade frictions menace demand. OIL, GAS & ENERGY NEWS STRAIGHT TO YOUR INBOX! Still, increases may yet be forthcoming.
In line with the directives of Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul Ghani, Iraq's OilPipelines Company has announced the successful operation of a new fuel oilpipeline connecting Samawa Refinery to the Samawa Combined Cycle Power Plant.
(World Oil) –Nigerian President Bola Tinubu hired the former head of a unit of Shell Plc to run the state oil company, as Africas biggest crude producer works to boost output and prepare the firm for an initial public offering. Bashir Ojulari will replace Mele Kyari as head of NNPC Ltd.
Everything from the enormous refineries that process crude oil to the vast pipelines that run beneath oceans is built on steel and aluminum. Behind the strength of these materials, however, lies a slow but persistent force called corrosion, which, if ignored, can cause disastrous breakdowns.
On May 1, 2025 , the Railroad Commission of Texas (RRC) issued a significant new permit to WWM Operating, LLC , authorizing operations for the Traverse Pipeline a major gas transmission project set to enhance energy transport capacity across multiple South Texas counties.
AI in oil and gas is propelling the industry to new heights. The oil and gas industry has always been driven by innovation, and today, artificial intelligence (AI) is pushing the sector into a new era of efficiency, precision, and profitability. Digital twinsvirtual models of physical assetsare also transforming maintenance strategies.
TotalEnergies has signed an agreement with the German developer RWE to supply 30,000 tons a year (tpy) of green hydrogen to the German Leuna refinery for 15 years, marked as the largest quantity of green hydrogen ever contracted from an electrolyzer in Germany.
Iraq's Minister of Oil, Hayan Abdul Ghani, highlighted the government's commitment to gas investment as a key driver for economic and industrial development at the Iraq Britain Business Council (IBBC) Baghdad Conference on Monday. On renewable energy, Iraq has secured commitments for 8,000 MW of solar power at oil field sites.
million net acres and more than 2 billion barrels of oil equivalent (Boe) in undeveloped resources. Condensate, Contiguity, and Competitive Returns The volatile oil window of eastern Ohio — covering counties like Carroll, Guernsey, Harrison, and Noble — has seen a sharp rise in condensate production. Why the Utica?
Scotland Grangemouth is central and incredibly well connected, with electricity pylons fanning out in all directions and underground pipelines linking it to the north east of Scotland and northern England.
The oil and gas sector has long been a cornerstone of the global economy, providing energy, raw materials, and substantial economic contributions. Upstream Investments; Exploration and Production (E&P): The upstream sector involves the search for oil and gas reservoirs and the extraction of these resources.
MOL announced discovering a new oil field near Somogysmson in Western Hungary. During the exploration drilling carried out in December 2024, oil was found at a depth of 1,250 meters. As a landlocked country, our oil supply is largely via pipelines and intermediaries. Gyrgy Bacsa, COO of MOL Hungary added.
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.
This came during the general assembly meeting of the Middle East OilRefinery (MIDOR), attended by the Minister of Petroleum and Mineral Resources, Karim Badawi, to discuss and review the companys fiscal year results in 2024. He praised MIDORs contributions to hard currency earnings, local market stability, and sustainable growth.
The Prime Minister reaffirmed ongoing efforts to resume oil exports from the Kurdistan Region of Iraq (KRI), noting that discussions with international oil companies are underway to resolve technical issues preventing exports.
The Oil Industry of Nigeria If anyone asks Chevron or Shell, for example, how they feel about Nigeria, the response would probably be that they were tired of problems, at least if they were honest. History of oil in Nigeria Oil was first discovered in Nigeria in the mid-1950s after decades of fruitless exploration.
Upstream Midstream Downstream are terms commonly used in the oil and gas industry to describe different stages of the production and distribution process. Each sector has distinct activities and focuses on specific aspects of the overall oil and gas supply chain. What is oil and gas upstream midstream downstream?
In industries where safety and reliability are non-negotiablesuch as oil and gas, petrochemical, and power generationnon-destructive testing (NDT) plays a crucial role. From inspecting pipeline welds offshore to evaluating high-pressure vessels in refineries, ultrasonic [.]
As flames continue to rage across Los Angeles and surrounding areas, pipelines, refineries, and power systems are under serious threat, creating the potential for widespread energy disruptions across multiple states. This would affect California and have broader repercussions across the Western U.S.
Leading companies are aggressively expanding and integrating their gathering, processing, pipeline, and export infrastructure. This “Wellhead to Water” strategy is particularly evident in the Permian Basin, where crude oil, natural gas, and natural gas liquids (NGLs) production is growing rapidly. ” Pierce H. .
Low-power sensors already help monitor oil and gas operations, but the true benefit of this real-time visibility will lie in data-driven decision-making throughout the supply chain. This IoT tech is capable of gathering, transmitting, and utilizing data and its already making waves in the oil and gas industry.
It is designed to produce a range of petrochemical products through an advanced oilrefinery and steam cracking units, enabling the production of ethylene and propylene. The post Egyptian-Chinese JV Established for First Phase of Red Sea Petrochemicals Complex in Ain Sokhna first appeared on Egypt Oil & Gas.
It now owns the Colex terminal, the starting point of the all-important Colonial Pipeline system, and the Sinco products pipe network, which could offer another pathway to Desert Southwest markets served by a dwindling number of California refineries.
Minister of Petroleum and Mineral Resources Karim Badawi attended the General Assembly meeting of the Middle East Oil Tankage & Pipelines (MIDTAP) company to discuss its 2024 performance. The post MIDTAP Achieves Unprecedented Growth in Petroleum Trading, Zero Accidents, Injuries in 2024 first appeared on Egypt Oil & Gas.
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
oil and gas industry is experiencing one of its most transformative periods. oil & gas basins , the leading companies , and market trends using the latest data and forecasts. However, in late 2024, the Matterhorn Express pipeline came online, adding 2.5 2025 Forecast Projected Crude Oil Output: 6.6 MMBbl/d , a 0.3
February 24, 2025 Edition At Valor, our goal is to keep you informed of the latest news and updates from the oil and gas industry. Oildips on pending Kurdistan supply resumption Summary : Oil prices declined on Monday, extending last weeks losses, as markets anticipated the resumption of crude exports from Iraqs Kurdistan region.
As if crude producers and midstream transportation companies don’t already have enough problems trying to get crude oil from production fields to refineries thanks to inadequate pipeline infrastructure, tank car supply, rail safety concerns, and new regulations, they now also have to address a new, potentially market-busting lawsuit.
(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. TC Energy oil spill PR oil discharge 12-9-22 (Photo: U.S. Obama and Pres. 30 spill. #21:
energy sector, which is the top producer of both crude oil and natural gas and is a major importer of power system and energy extraction components. OIL & GAS As the worlds top exporter of liquefied natural gas and third largest exporter of crude oil in 2024 according to Kpler the U.S. refinery margins and boost U.S.
Given planned refinery maintenance and announced closures, we are concerned that low distillate inventories might raise diesel prices, even if oil prices do not rise. Meanwhile, China is re-arranging shipments to prevent its oil majors from directly buying Venezuelan oil. Subscribe now IN DETAIL Read more
(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. Chinas new interest in Canadian oil comes as U.S. The C$34 billion ($24.40
Related News Bloomberg: Trump Bets Oil Suppliers’ Tariff Pain Will Mean Long-Term US Gains Summary President Trump's tariffs are pressuring Mexico and Canada into negotiations by hiking import costs for US producers of fuel and plastics. Logistical issues like limited pipeline capacity and shipping risks might moderate these changes.
March 17, 2025 Edition At Valor, our goal is to keep you informed of the latest news and updates from the oil and gas industry. Oils oversupply spiral: can prices stay above $60? 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.
The refineries in the Midwest prefer Canadian heavy crude and infrastructure is said to be well suited for the purpose; in addition, the close proximity of the countries has kept the transport costs fairly low, benefiting both countries. This combination will impede global growth and ultimately reduce long-term crude oil demand.
McNeal has been practicing law since 1984 and is an experienced litigator who has tried cases concerning the cleanup of legacy oilfield properties, class actions, environmental citizen suits, refinery-related litigation, pipeline matters, oil and gas disputes, landfill suits, and commercial litigation.
Canadian energy minister Jonathan Wilkinson told Reuters that Canada could impose non-tariff measures such as restricting oil exports to the U.S. per day via pipeline, mainly to Midwest refineries. or levying export duties on minerals, if U.S. tariffs persist. Canada ships about 4 million barrels of crude to the U.S.
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