Oil and Gas Storage
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Britain came within six hours of running out of natural gas in March, highlighting the risk of supply shortages amid declining domestic production, the FT reports.
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Britain came within six hours of running out of natural gas in March, highlighting the risk of supply shortages amid declining domestic production, the FT reports.
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*European Commission has raided pricing agency Platts. The mid-sized trading company, which deals in physical oil products and owns storage facilities, was visited by inspectors from the European Commission on Tuesday.
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SINGAPORE, May 15- U.S. crude futures held steady above $94 a barrel in early Asian trade on Wednesday, snapping the longest losing streak since early-December on rising supplies amid slowing demand growth. U.S. oil gained 9 cents to $94.30 a barrel by 0038 GMT, after ending 96 cents down.
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CALGARY, Alberta, May 7- Enbridge Inc, Canada's largest pipeline operator, said on Tuesday it will spend C $300 million on infrastructure to handle expanded production from the Surmont oil sands project owned by ConocoPhillips and French oil major Total SA.
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After blowing through minor support at the 20- day and 40- day moving averages over the last week, chart traders said Tuesday's weak close broke support in the $3.94 per mmBtu area, the 38.2 percent Fibonacci retracement of the move up from the February low of $3.125 to last week's high of $4.444.
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NEW YORK, May 7- U.S. natural gas futures lost ground on Tuesday for a second straight day, with moderating weather forecasts and tapering demand driving the front-month contract to a test of key technical support.
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SINGAPORE, May 7- Singapore LNG started commercial operations of its S $1.7 billion liquefied natural gas terminal, receiving its first cargo of gas super chilled into liquid for shipping, the company said in a statement on Tuesday. BG Group Plc supplied the first cargo. The Britain- based company has a contract to supply 3 million tpy of LNG to the terminal.
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May 6- Blueknight Energy Partners LP, a midstream oil company controlled by global oil trader Vitol SA, said it will form a joint venture with Silverado Pipeline LLC to develop and reactivate a 200- mile crude oil pipeline between Longview and Houston.
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The project will take liquefied petroleum gases from a storage complex run by Lone Star in Mont Belvieu, Texas, via Sunoco's existing pipeline to its terminal in Nederland, Texas, which has round-the-clock access to vessels in the Gulf Coast.
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Light synthetic crude from the oil sands last traded at a discount of $0.80 per barrel under WTI, down from a settlement price on Friday of $3.00 per barrel over the benchmark. Suncor Energy Inc's 140,000 barrel per day refinery in Edmonton, Alberta, was in full shutdown.
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NEW YORK, May 6- The CME Group intends to launch at least two new U.S. crude oil futures contracts before the end of this year, as the rapid growth in U.S. oil production and infrastructure boosts liquidity in Gulf Coast spot markets.
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May 6- PAA Natural Gas Storage LP:. *Qtrly income per diluted limited partner unit$ 0.24. *Qtrly adjusted net income per diluted limited partner unit$ 0.26.
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NEW YORK, May 3- Two crude oil storage tanks were on fire Friday at a Denbury Resources Inc facility in Denham Springs, Louisiana, after an explosion in one of the tanks on Thursday night, according to company, state and parish officials.
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NEW YORK, May 3- Two crude oil storage tanks were on fire Friday at a Denbury Resources Inc facility in Denham Springs, Louisiana, after an explosion in one of the tanks on Thursday night, according to company and Louisiana state officials.
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NEW YORK, May 3- Two crude oil storage tanks were on fire Friday at a Denbury Resources Inc facility in Denham Springs, Louisiana, after an explosion in one of the tanks on Thursday night, according to company and Louisiana state officials.
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May 2- Enterprise Products Partners:. the southeast Texas refinery market. terminal at Morgan's Point* Source text for Eikon* Further company coverage.
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Kinder Morgan is building a 27- mile, 12- inch lateral pipeline to the Sweeny refinery from its 300,000 bpd crude and condensate pipeline that moves Eagle Ford output to the Houston Ship Channel. The lateral pipeline's initial capacity was 30,000 bpd, but Kinder Morgan said it will increase to 100,000 bpd.
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May 2- TransCanada Corp, Canada's No. 2 pipeline company, said it would spend an estimated $900 million to build and operate a 200- kilometer pipeline and oil storage terminal to cater to growing crude production in Alberta.
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*Late-week outlook turns colder for Texas and the Midwest. "The market bumped up early as technical buyers responded to temporary weather-based demand, but we saw some profit-taking late in the session on concerns about the sustainability of the rally," Gelber& Associates analyst Aaron Calder said.
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NEW YORK, May 1- Commodity trading merchant Castleton Commodities International LLC said on Wednesday it had completed the purchase of a 1,210 megawatt natural gas and fuel oil-fired electric power plant from Dynegy.