Kinder Morgan shuts Tampa, Florida refined products terminals, pipelines ahead of Hurricane Milton
Kinder Morgan shuts in 10-inch, 16-inch line only days after restarting Florida fuel supplies tight as residents evacuate Offshore impact limited to Chevron's Blind Faith platform Kinder Morgan shut its Tampa Bay, Florida refined products terminals as well as its Central Florida Pipeline system in preparation for Hurricane Milton, the company said Oct. 8. "Based on our current understanding of Hurricane Milton's path and intensity, we have shut down our pipelines that are part of the Central Florida Pipeline system," spokesperson Carolina Olivares said Oct. 8. "While the Tampa terminal is shut down, our Orlando truck racks are expected[...]
Saudi Arabia Raises Asia Oil Price as Volatility Grips Market
Aramco sets Arab Light crude to Asia at $2.20/barrel premium OPEC+ agreed last month to delay output increase to December Saudi Arabia raised its main oil prices for buyers in Asia amid heightened volatility in the crude market as traders watch developments in the Middle East conflict. State producer Saudi Aramco increased the official selling price of its main Arab Light crude grade by 90 cents to a premium of $2.20 a barrel against the regional benchmark for buyers in Asia, according to a price list seen by Bloomberg. The company was expected to boost the premium by 65 cents a barrel, according[...]
Trouble Deepens for North Sea Oil and Gas
North Sea oil and gas operators are not just facing the prospect of higher windfall taxes, they are now also finding it more difficult to get loans from UK banks. The windfall profit tax was imposed on the energy industry in 2022 amid record profits resulting from the supply uncertainty in oil and gas following the incursion of Russian troops into Ukraine. According to data from Norwegian investment bank SpareBank 1 Markets, reserve-based lending to oil and gas operators in the UK’s North Sea had fallen by some 40-50% since the introduction of the windfall profit tax. Click for[...]
Nationwide debate on Colorado proposal
Colorado lawmakers have proposed groundbreaking legislation that would ban new oil and gas drilling permits starting in 2028 and require existing wells to pause production for five months each year. This bold move could inspire other states to follow suit, but faces opposition from the oil and gas industry and some lawmakers. The outcome of Colorado's legislative efforts will likely have significant implications for the future of energy production and environmental policy in the United States. Click for full story
Uzbek Refiner to Process Afghan Crude
Uzbek oil refiner Saneg has struck a deal to process Afghan crude at its 2 million mt/year Fergana refinery as Afghanistan's Taliban government is trying to kickstart upstream production amid chronic fuel shortages.
Global demand remains low due to Chinese economy
Global oil demand growth will likely remain below 1 million barrels per day in the near future largely because of a slowdown in China's economy, International Energy Association executive director Fatih Birol said Sept. 23. https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/092324-global-oil-demand-growth-to-remain-below-1-million-bd-in-near-future-ieas-birol
Kinder Morgan shuts Tampa, Florida refined products terminals, pipelines ahead of Hurricane Milton
Kinder Morgan shuts in 10-inch, 16-inch line only days after restarting Florida fuel supplies tight as residents evacuate Offshore impact limited to Chevron's Blind Faith platform Kinder Morgan shut[...]
Saudi Arabia Raises Asia Oil Price as Volatility Grips Market
Aramco sets Arab Light crude to Asia at $2.20/barrel premium OPEC+ agreed last month to delay output increase to December Saudi Arabia raised its main oil prices for buyers[...]
Trouble Deepens for North Sea Oil and Gas
North Sea oil and gas operators are not just facing the prospect of higher windfall taxes, they are now also finding it more difficult to get loans from UK[...]
Nationwide debate on Colorado proposal
Colorado lawmakers have proposed groundbreaking legislation that would ban new oil and gas drilling permits starting in 2028 and require existing wells to pause production for five months each[...]
Uzbek Refiner to Process Afghan Crude
Uzbek oil refiner Saneg has struck a deal to process Afghan crude at its 2 million mt/year Fergana refinery as Afghanistan's Taliban government is trying to kickstart upstream production[...]
Global demand remains low due to Chinese economy
Global oil demand growth will likely remain below 1 million barrels per day in the near future largely because of a slowdown in China's economy, International Energy Association executive[...]
