Author Archive: AEN Staff

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Trump approves Keystone XL pipeline, but a lot of work ahead for TransCanada

Trump approves Keystone XL pipeline, but a lot of work ahead for TransCanada

Keystone XL rejected by President Obama President Donald Trump and his administration approved the TransCanada Keystone XL pipeline on Friday, a move welcomed by the Canadian and American oil industry, but one that angered environmentalists who have sought to block the pipeline for years. Trump’s approval of the pipeline is one of many steps that […]

By March 24, 2017 0 Comments Read More →
Oil prices slip as high inventories curb recovery

Oil prices slip as high inventories curb recovery

Oil prices well below this year’s highs Oil prices fell slightly in trading on Thursday as investors remained concerned that US crude inventory supplies were not being affected by OPEC-led production cuts. By 11:49 a.m., benchmark Brent crude oil was trading at $50.57/barrel, down 7 cents on the day, but holding above Wednesday’s drop to $49.71, the lowest […]

By March 23, 2017 0 Comments Read More →
Following Husky oil spill, Saskatchewan reviews pipeline rules

Following Husky oil spill, Saskatchewan reviews pipeline rules

Husky oil spill forced Prince Albert, North Battleford to find temporary alternative water sources The government of Saskatchewan is reviewing its regulations and engineering standards for pipelines around bodies of water following the Husky oil spill last summer. The spill that occurred east of Lloydminster dumped oil into the North Saskatchewan, forcing the cities of […]

By March 23, 2017 0 Comments Read More →
World’s biggest LNG buyers create alliance to secure flexible contracts

World’s biggest LNG buyers create alliance to secure flexible contracts

LNG buyers hope to shift power from suppliers to importers The world’s largest LNG buyers, all located in Asia, are teaming up to secure more flexible supply contracts in a move that will shift power to importers from producers as the global liquified natural gas supply grows. Reuters reported on Thursday, Korea Gas Corp, or […]

By March 23, 2017 0 Comments Read More →
Keystone XL pipeline permit to be approved by State Department: Politico

Keystone XL pipeline permit to be approved by State Department: Politico

Keystone XL to transport crude from Alberta oilsands Between now and early next week, the US State Department is expected to green light the construction of the Keystone XL pipeline, according to a report by Politico. The Alberta oilsands to U.S. pipeline was blocked by former President Barack Obama in 2015.  He argued the pipeline […]

By March 23, 2017 0 Comments Read More →
Libyan oil output up to 700,000 b/d after end of port fighting

Libyan oil output up to 700,000 b/d after end of port fighting

Libyan oil output hampered by fighting at two key ports Libyan oil output has increased to 700,000 barrels per day according to the National Oil Corporation, after a drop earlier in March due to fighting at two of the North African country’s two key oil ports. “We are working very hard to reach 800,000 barrels […]

By March 22, 2017 0 Comments Read More →
Sinopec buys 75 per cent stake in Chevron South African, Botswana assets

Sinopec buys 75 per cent stake in Chevron South African, Botswana assets

Sinopec purchase valued at almost $1 billion Chinese oil and gas company Sinopec announced it has purchased a 75 per cent stake in Chevron’s South African assets and a subsidiary in Botswana for almost $1 billion. This is the first major refinery Sinopec has secured in Africa. The sale to Asia’s largest oil refiner includes […]

By March 22, 2017 0 Comments Read More →
Trans Mountain commitments secured by Kinder Morgan after dip

Trans Mountain commitments secured by Kinder Morgan after dip

Trans Mountain Pipeline commitment fell after Kinder Morgan boosted tolls Kinder Morgan says it has booked the entire 22,000 barrels per day of capacity offered on its Trans Mountain Pipeline expansion after a dip in shipper commitments earlier this month. The $6.8 billion pipeline expansion will nearly triple the amount of Alberta crude transported from the […]

By March 22, 2017 0 Comments Read More →
Oil prices drop to lowest since November on increased US stocks

Oil prices drop to lowest since November on increased US stocks

Oil prices briefly fell below $50/barrel Oil prices slipped to almost four-month lows in trading on Wednesday after the United States Energy Information Administration released its report showing a larger-than-expected increase in US crude inventories. “The fact that this supply has increased almost 55 million barrels this year in the face of significant OPEC production […]

By March 22, 2017 0 Comments Read More →
US crude stocks reach record high due to imports surge: EIA

US crude stocks reach record high due to imports surge: EIA

US crude stocks up 5 million barrels US crude stocks rose to a record high last week following a surge of imports and increased domestic production that more than offset a boost in refinery runs, according to the Energy Information Administration. Crude inventories in the United States have been building since the beginning of the year. […]

By March 22, 2017 0 Comments Read More →