Oil and Gas Pipelines

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Russia

Rare Ship-to-Ship Transfers Keep Oil Moving From Russia to China

(Bloomberg) — A logistically risky and costly transfer of crude between tankers at sea highlights the steps at least one Chinese buyer is willing to take to ensure the smooth flow of oil from eastern Russia to Asia. Buyers are using creative ways to maintain flows as more shipowners shun Russian oil due to the […]

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Value Investing

Is ET a good value under current market conditions?

Throughout 2022, one of the biggest storylines in the marketplace has been the pace of inflation. It’s been reflected in rising prices across the board all the way to the consumer level, and one of the places it has been most clearly seen is the price of crude. West Texas Intermediate (WTI) crude, which acts […]

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Big Oil
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Oil and Gas Pipelines

Oil Declines as Traders Weigh G-7 Crude Ban, Saudi Price Cuts

(Bloomberg) — Oil declined at the week’s open as investors weighed a pledge by the Group of Seven to ban imports of Russian crude against a cut in official prices by Saudi Arabia and China’s wave of energy-sapping lockdowns. West Texas Intermediate fell toward $109 a barrel after closing at a six-week high on Friday. […]

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Oil and Gas Pipelines
Oil Production
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Oil Supply

What a 180-Million-Barrel Oil Release May Mean for the Market

(Bloomberg) — Oil dropped by more than $5 a barrel in a matter of minutes after a report that the Biden administration is considering releasing about 1 million barrels a day from its strategic reserves for several months. The overall release could be as much as 180 million barrels, according to people familiar with the […]

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Oil
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It’s Not Too Late for Keystone XL, Alberta’s Premier Says

(Bloomberg) — TC Energy Corp.’s Keystone XL crude pipeline could be built by the first quarter of next year if the Biden administration were to reverse its decision to cancel the project. Construction of the controversial pipeline, which would have raised Canada’s oil-sands export capacity to the U.S. by almost 900,000 barrels a day, had […]

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Goldman Says Demand Destruction Only Thing That Can Restrain Oil

(Bloomberg) — Demand destruction is the only thing that can stop oil shooting higher after the U.S. and European allies unleashed additional curbs on Russia following its invasion of Ukraine, according to Goldman Sachs Group Inc. The bank raised its one-month forecast for Brent crude to $115 a barrel, from $95, with significant upside risks […]

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Oil Price

Exxon Joins Chevron in Permian Oil Surge as Peers Preach Caution

(Bloomberg) — President Joe Biden, who has asked OPEC+ to raise oil production faster to tame runaway energy prices, just got a gift on his home turf instead: a blockbuster growth forecast for U.S. shale production from the country’s two biggest oil companies. Exxon Mobil Corp. said Tuesday it plans to boost output by 25% […]

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Crude Oil
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Oil and Gas Pipelines

Florida Startup Offers Solution To Decades-Old Pipeline Puzzle

A new Florida-based startup hopes it has devised a solution to the decades-old puzzle of how to transport natural gas from Turkmenistan’s enormous reserves across the Caspian to Azerbaijan and, potentially, onward to Europe. The company, Trans Caspian Resources (TCR) was founded in April and is co-headed by a former U.S. ambassador to Turkmenistan, Alan […]

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Oil Crash
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Oil’s Black Friday: Algos, Options Turn Tumble Into a Crash

(Bloomberg) — Black Friday turned red very quickly for global oil markets. The day after Thanksgiving has been choppy before — fewer traders can mean more volatility — but nothing like this year. The prospect of the freshly named Omicron variant of Covid derailing the world’s fight against the pandemic saw an early morning sell-off […]

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