U.S. crude oil inventories for the week ended March 22 (excluding the Strategic Petroleum Reserve), increased by 2.8 million barrels (Mmbbl) from the previous week, according to Energy Information Administration data. At 442.3 Mmbbl, U.S. crude oil inventories are roughly 2% below the five-year average for early spring, the report showed. Trade group the American
Read More...While U.S. coal consumption has generally declined since its 2008 peak, the Energy Information Administration projects U.S. coal exports reached 116 million short tons (Mmst) in 2018 — the highest level in five years — based on foreign trade data collected by the U.S. Census Bureau. Exports of coal from the U.S. have increased since 2016, as
Read More...Minnesota-based energy company Allete said Wednesday it’s closed the $270 million sale of U.S. Water Services to Kurita Water Industries Ltd., a Japan-based water-management company. U.S. Water is an integrated water-solutions company which serves roughly 5,000 customers by optimizing system performance, reducing water and energy use, and improving efficiency. It was acquired by Allete in 2015, Kallanish Energy
Read More...The Ohio Department of Natural Resources granted six new drilling permits for horizontal wells in Ohio’s Utica shale during the week ended March 16, according to The Youngstown Business Journal. Chesapeake Exploration LLC received three of the permits, while the other three were issued to Ascent Resources LLC. Both companies plan to drill wells in
Read More...Kimbell Royalty Partners said Monday it’s closed the previously announced purchase of oil and gas royalty assets from EnCap Investments for roughly $171.6 million in Kimbell Royalty Operating stock. The acquisition includes oil and natural gas mineral and royalty interests previously controlled by EnCap through Phillips Energy Partners, Phillips Energy Partners II and Phillips Energy Partners
Read More...Venezuela’s main oil port of Jose, operated by state-run oil giant Pdvsa, was virtually shut down following a massive power blackout Monday, two oil industry workers and a union leader close to the facility told Reuters. The most recent oil shipment for export, on very large crude carrier Dragon, chartered by Russia’s Rosneft, left the
Read More...Crude oil rose sharply Tuesday as Opec+ supply cuts and expectations of lower U.S. inventories outweighed concern about weaker demand due to a potential worldwide economic slowdown. Brent crude was up 70 cents at $67.89 a barrel, not far from its 2019 high of $68.69/Bbl hit on March 21, Kallanish Energy reports. U.S. West Texas
Read More...The Federal Energy Regulatory Commission plans to review two pipeline expansions in Pennsylvania, according to Seeking Alpha. Transco’s Leidy South project and National Fuel Gas’ FM100 project will undergo environmental assessments. An environmental assessment rather than a full environmental impact statement can mean a shorter review to arrive at a decision. The Leidy South project
Read More...A week ago, the Third U.S. Circuit Court of Appeals granted New Jersey a stay, which stopped construction of the PennEast natural gas pipeline, to give the state time to resolve issues with the company regarding property both parties have interest in, according to The Morning Call. The court issued the order in an appeal
Read More...The Canada Pension Plan Investment Board is forming a $3.8 billion joint venture with U.S. energy firm Williams Cos Inc, according to NASDAQ. The new entity will hold pipeline assets in the Marcellus and Utica shale plays. CPPIB, Canada’s largest pension fund, will invest about $1.34 billion for a 35 percent stake in the venture,
Read More...Hilcorp Energy Co.recently applied for three permits related to horizontal well development in Columbiana County, according to the Ohio Department of Natural Resources. Hilcorp has submitted applications for a pair of new horizontal wells in Elk Run Township at the ElkRun-Auer well pad targeting the Utica/Point Pleasant shale formation. The first of the three permits
Read More...Midstreamer Tallgrass Energy this week announced the promotion of chief operating officer Bill Moler to president, effective immediately. The Kansas-based company said David G. Dehaemers Jr. remains CEO and Moler will retain his current COO title, Kallanish Energy reports. “I’m delighted to announce Bill’s ascent to President, a move that recognizes his increasingly vital role
Read More...The Trump administration is granting Iraq a renewed 90-day waiver, exempting it from U.S. sanctions on Iran, a State Department official told CNBC Tuesday. The waiver, last issued in December and expired Tuesday, will allow Iraq to continue buying electricity from its neighbor, Kallanish Energy reports. “While this waiver is intended to help Iraq mitigate
Read More...Crude oil prices were little changed Tuesday after hitting 2019 highs earlier in the day, maintaining strength on expectations Opec+ will continue its production cuts. U.S. oil prices have risen 9% in the last six weeks, as the Opec+ supply cuts are now expected to continue through the rest of 2019. Opec+ representatives this week
Read More...Last week, Stark County Common Pleas Judge Kristin G. Farmer dismissed the state’s lawsuit against Rover Pipeline over alleged water pollution, determining the Ohio Environmental Protection Agency waived its right to regulate pipeline construction under the Clean Water Act, according to the Canton Repository. The Ohio EPA had a year to act on the Rover’s
Read More...