New LNG supplies are coming online just as demand growth in some major markets are weakening, leading to major shifts in global natural gas trade patterns over the next 5 years, the International Energy Agency said in its 2016 Medium-Term Gas Market Report. IEA’s report assesses global gas trends and provides a detailed analysis of […]
EnLink to build Midland basin crude gathering system
A subsidiary of EnLink Midstream Partners LP and EnLink Midstream LLC plans to construct a crude oil gathering system in Upton and Midland counties, Tex., in the Permian basin. Source: News
Pipeline suspension forces production cuts at Kansas refinery
Coffeyville Resources Refining & Marketing LLC, a subsidiary of CVR Refining LP, Sugar Land, Tex., has slowed production rates at its 115,000-b/d refinery at Coffeyville, Kan., following an interruption to operations along an associated products pipeline. Source: News
Inpex spuds exploration well offshore southern Japan
Inpex Corp., Tokyo, commences drilling of an exploration well June 5 offshore the Shimane and Yamaguchi prefectures in southern Japan. The well is 130 km off Shimane in 210 m of water, about halfway between Tsushima and Oki Island. Source: News
EIA estimates 3.2 million-bbl decline in US crude inventories
US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, fell 3.2 million bbl from the previous week, according to the US Energy Information Administration’s weekly Petroleum Status Report. Source: News
Oregon town lifts water restrictions as derailment cleanup continues
An Oregon community ended water use restrictions as cleanup continued of an estimated 1,000 bbl of Bakken crude that leaked from tank cars of a Union Pacific train that derailed on June 3. But the Mosier City Council and the town’s mayor objected on June 6 to the railroad’s plans to resume running trains along […]
W Energy Partners to focus on Williston
W Energy Partners has been formed as an exploration and production company seeking to acquire nonoperating working interest in acreage and production in the Williston basin. Source: News
MARKET WATCH: NYMEX, Brent crude oil prices continue upward momentum
The light, sweet crude oil contract for July delivery rose on the New York market to settle above $50/bbl June 7, marking the highest settlement since July 21, 2015. Brent crude for August delivery settled at $51.44/bbl on the London market. It was the highest price for front-month Brent since Oct. 9, 2015. Source: […]
Unipetrol breaks ground on polyethylene unit
Unipetrol AS has started construction on a grassroots polyethylene (PE) production unit at its Chempark Zaluzi petrochemical complex in Litvinov, Czech Republic. Source: News
EIA continues to raise oil-price forecasts for 2016-17
North Sea Brent crude oil prices averaged $47/bbl in May, a $5/bbl increase from April and the fourth consecutive monthly increase since reaching a 12-year low of $31/bbl in January. Growing global oil supply disruptions, rising oil demand, and falling US crude oil production have contributed to the price increase. Source: News