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Oil and Gas Storage

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  • Bakken-Cushing pipeline project slammed shut Saturday, 13 Dec 2014 | 11:01 AM ET

    Enterprise Products Partners is shelving a pipeline that would have transported crude from North Dakota to Oklahoma, the company said Friday.

  • OMISALJ, Croatia, Dec 10- Spurred by the demise of Russia's South Stream gas pipeline project, Croatia has revived a decade-old idea of building a liquefied natural gas import terminal at the deepwater oil port of Omisalj on the island of Krk. But the Ukraine crisis and the collapse of South Stream have refocused minds in central and eastern European nations on...

  • BISMARCK, N.D., Dec 9- North Dakota has approved strict new standards for oil, requiring every barrel of crude be filtered for dangerous types of natural gas in order to make crude-by-rail transport safer. The new requirements come as federal, state and local officials grapple with how best to ensure the safe transport of North Dakota's crude oil, which has been...

  • *Lithuania to import LNG to cut dependence on Russian gas. *Needs access to Latvia storage site to balance flows. But contracts providing third parties with access to the Incukalns underground gas storage site in Latvia are not transparent, which is hindering the emergence of a market, Lithuanian LNG importer Litgas said.

  • YOGYAKARTA, Indonesia/ JAKARTA, Dec 2- Indonesia's new administration plans a major expansion of oil storage and will construct more refineries as part of sweeping energy reforms that will also help in cracking down on any corruption in the state oil trader. In 2013, Indonesia's oil and gas sector made up over 7 percent of GDP in the $740 billion economy,...

  • JAKARTA, Dec 2- Indonesia's new administration plans a major expansion of oil storage and will construct more refineries as part of sweeping energy reforms that will also help in cracking down on corruption in the state oil trader. Sworn in just six weeks ago, President Joko Widodo launched the overhaul of the scandal-tainted oil and gas sector last Friday by...

  • LAUNCESTON, Australia, Nov 26- China has done two surprising things in oil markets recently; pledging to be more open about its strategic stockpiling and buying crude very openly in the daily trading window in Singapore. Since 2009, China has tended to boost crude purchases when it judges prices to be cheap on a relative basis. The bulk of these extra purchases...

  • US Air Force cleared to purchase civilian jet fuel Wednesday, 19 Nov 2014 | 2:16 PM ET
    A KC-135 Stratotanker from Fairchild Air Force Base, Wash., refuels a B-1B Lancer during a training exercise Sept. 23, 2014, over South Dakota.

    The US Air Force just completed an initiative to convert all of its bases from military-specific grade jet fuel to a civilian grade.

  • With energy boom, Philly becomes the new Houston Sunday, 16 Nov 2014 | 9:00 AM ET
    The Philadelphia Energy Solutions refinery in Philadelphia, Pennsylvania.

    Philadelphia is developing a new reputation as a nexus of oil and gas transportation, which bodes well for its economy.

  • LONDON/ PARIS, Nov 3- European equities retreated from a four-week high on Monday, with a survey showing sluggish euro zone factory growth hurting market sentiment and gas transport group Snam leading the utilities sector lower following a gas storage ruling. The European utilities index fell 1.7 percent, the top sectoral decliner, on an 11 percent drop in Snam...

  • HOUSTON, Oct 31- Tesoro Corp doesn't expect to add stabilizers that remove flammable natural gas liquids from crude in North Dakota's prolific Bakken shale, where the company is expanding its pipeline infrastructure, Chief Executive Officer Greg Goff said on Friday. North Dakota plans to issue new rules for the treatment of crude on Nov. 13 to address the...

  • HOUSTON, Oct 29- U.S. refiner Phillips 66 said on Wednesday its third-quarter net profit more than doubled to $1.14 billion as margins benefited from the North American onshore oil boom. Earnings per share after certain items were $2.02, up from $0.85 a share in the year earlier period. Although profits at the company's chemical, midstream, and marketing units...

  • Oct 28- Shell Midstream Partners LP, a master limited partnership formed by Royal Dutch Shell Plc, priced its enlarged initial public offering of 40 million units at $23 per unit, above its expected price range of $19- $21 per unit. Shell Midstream owns stakes in four onshore and offshore pipelines in Texas and Louisiana. This includes a 43 percent stake in a crude...

  • NEW YORK, Oct 14- Kinder Morgan Energy Partners, L.P. said it will add 2.1 million barrels of storage at its Pasadena and Galena Park terminals just outside Houston. The $210 million project- supported by long-term contracts with existing customers- will also include the construction of a new ship dock and other improvements at the Galena Park terminal that will...

  • NEW YORK, Oct 9- World oil prices are set to fall further, extending a months-long rout as Saudi Arabia is unlikely to make deep enough production cuts to erase a growing surplus of supply, according to Gary Ross, chief executive of PIRA Energy Group. Although there are faint signs of improving fundamentals in some physical crude oil markets, any uptick in prices...

  • TIOGA, N.D., Oct 1- North Dakota's oil producers will struggle to comply with aggressive rules taking effect on Wednesday designed to curb the wasteful burning of natural gas, hindered by lengthy federal reviews of crucial pipelines. Too few pipelines and a lack of plant capacity to prepare gas for transport means North Dakota flares enough natural gas in one...

  • WASHINGTON, Sept 29- U.S. federal regulators on Monday approved construction of Dominion Resources Inc's liquefied natural gas export project in Cove Point, Maryland. Cove Point is the fourth U.S.

  • Report: Energy firms' other kind of rigging—wages Saturday, 27 Sep 2014 | 9:46 AM ET

    Oil and gas firms are "routinely" underpaying their workers, according to an investigation from ProPublica.

  • *Hungary stops shipping gas to Ukraine, cites higher imports. BUDAPEST, Sept 26- Hungary has secured increased gas imports from Russia's Gazprom, Prime Minister Viktor Orban said on Friday, a day after Hungary's pipeline operator FGSZ stopped shipping gas to Ukraine.

  • BRUSSELS, Sept 25- European Energy Commissioner Guenther Oettinger said he aimed to propose an interim solution to the gas price row between Russia and Ukraine at talks he is brokering in Berlin on Friday. Russia cut off gas supplies to Ukraine in June because of a row over Ukraine's unpaid gas bill.