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Oil and Gas Oil and Gas Storage

  • The notice, issued Sunday night, came as the utility continues to have only limited access to fuel in its giant Aliso Canyon gas storage facility in Los Angeles following a massive methane leak between October 2015- February 2016.. California agencies have said in a report looking at the ongoing outage of Aliso Canyon that SoCalGas could have a tough time...

  • The IFR followed recommendations by a U.S. interagency task force in October after a major leak from the Aliso Canyon storage facility in California last year. "This IFR addresses aging infrastructure and is the first step in a multiphase process to enhance the safety of underground natural gas storage," said PHMSA Administrator Marie Therese Dominguez in the...

  • TOKYO, Dec 7- State-run Japan Oil, Gas and Metals National Corp said it signed a contract with the world's top exporter Saudi Aramco on Wednesday to extend a crude oil storage deal on the island of Okinawa by three years. Japan and Saudi Aramco had earlier been discussing expanding the Okinawa crude storage by about 2 million barrels. Saudi Aramco has stored crude...

  • In this Sept. 7, 2014, photo, new pipelines to carry gas from Texas to Mexico, eventually reaching the city of Guanajuato, are laid underground near General Bravo, in Nuevo Leon state, Mexico.

    Amid all the talk about border security and NAFTA renegotiation, natural gas is the one element that both the U.S. and Mexico can agree on.

  • Dec 1- California agencies expect to complete their safety review of Southern California Gas' Aliso Canyon in early 2017, preventing the utility from injecting natural gas into the Los Angeles storage facility for at least the first half of winter. SoCalGas shut the facility in October 2015 after a massive leak forced the evacuation of thousands in the Porter...

  • Dec 1- California agencies expect to complete their safety review of Southern California Gas' Aliso Canyon in early 2017, preventing the utility from injecting natural gas into the Los Angeles storage facility for at least the first half of winter. SoCalGas shut the facility in October 2015 after a massive leak forced the evacuation of thousands in the Porter...

  • Dec 1- The oil price rally sparked by an OPEC-Russia deal to cut output is likely to be short-lived, say traders in Asia, because the agreement may only draw more supplies from storage tanks and more crude shipments from the United States. And even without increased supplies from elsewhere, if the Organization of the Petroleum Exporting Countries and Russia do...

  • MUMBAI, Nov 30- Indian Strategic Petroleum Reserves Ltd, the government-owned company mandated to store crude oil for emergency needs, has invited initial bids to fill its storage facility in the southern state of Karnataka. ISPRL has a total of 5.33 million tonnes or 36.87 million barrels of storage facilities across three cities in southern India- Vizag,...

  • LAUNCESTON, Australia, Nov 29- Saudi Arabia's problems run far deeper than trying to cobble together a deal with fellow OPEC members to curb crude oil output in order to bolster prices. About two-thirds of Saudi Arabia's oil exports head to Asia, and the kingdom's struggles in the region's two biggest importers, China and India, are symptoms of its wider issues in...

  • LAUNCESTON, Australia, Nov 29- Saudi Arabia's problems run far deeper than trying to cobble together a deal with fellow OPEC members to curb crude oil output in order to bolster prices. About two-thirds of Saudi Arabia's oil exports head to Asia, and the kingdom's struggles in the region's two biggest importers, China and India, are symptoms of its wider issues in...

  • A ship building yard in Singapore.

    One-time spice capital Malacca is pumping nearly $3B into a plan to put itself in demand in a different hot commodity - oil.

  • Nov 21- Tesoro Logistics LP said it would buy some oil, natural gas and other gathering systems in North Dakota for about $700 million, and will also acquire terminal and storage assets from major shareholder Tesoro Corp for about $400 million. The North Dakota assets, which the company is buying from a group that includes Whiting Oil and Gas Corp, consist of over...

  • Nov 21- Tesoro Logistics LP said on Monday it would buy crude oil, natural gas and other gathering systems in North Dakota from a consortium for about $700 million. Tesoro Logistics also said it would buy terminal and storage assets located in Martinez, California from a subsidiary of oil refiner Tesoro Corp for about $400 million. The consortium selling the...

  • Nov 21- Hedge fund Elliott Management, which owns about 4 percent of Marathon Petroleum Corp, urged the company to conduct a strategic review and consider splitting into three businesses. Marathon should consider spinning off of its chain of gasoline and convenience stores or break into three businesses, focused on retailing, refining and midstream...

  • Oil rig afloat on the waters in Alaska

    The Obama administration on Friday blocked the sale of new permits to drill oil and gas in the Chukchi and Beaufort Seas off Alaska.

  • Nov 10- The volume of natural gas in storage in the United States hit a record high last week, despite one of the smallest builds in history during this year's injection season, as production declines for the first time in over a decade. The U.S. Energy Information Administration on Thursday said stockpiles hit 4.017 trillion cubic feet during the week ended Nov. 4,...

  • Nov 8- The Los Angeles County Board of Supervisors said on Tuesday it would vote on Nov. 9 on a motion calling on California Governor Jerry Brown to continue restricting natural gas injection into Southern California Gas's Aliso Canyon storage facility. The motion asks that injection be halted until California's Public Utilities Commission completes a...

  • ANKARA, Nov 8- Turkey expects the first unit of its planned $20 billion Akkuyu nuclear power plant, being built in collaboration with Russia, to be online by the end of 2023, energy minister Berat Albayrak said on Tuesday. President Tayyip Erdogan has said that work on the Akkuyu project, in southern Turkey, would be accelerated after Russia and Turkey restored...

  • *China's oil data weakens further. A month on, however, Asia's oil markets remain oversupplied, with tankers being chartered for floating storage as onshore facilities are full. There is floating storage in and around Singapore, and Korean storage tanks are full, "said Oystein Berentsen, managing director for crude at oil trading firm Strong Petroleum in...

  • A pipeline sign stands in Cushing, Oklahoma, U.S.

    An earthquake with a preliminary magnitude of 5 struck near Cushing, Oklahoma, prompting evacuations, but there were no reports of injuries.