Crude Oil News

 

Platform Fire Slashes Pemex Crude Output by 20,000 BPD

Apr 10, 2024

Mexican Pemex crude oil production is down some 20,000 barrels per day following a fire at an offshore platform on Saturday that left several injured and at least one dead, a source at the state energy company said.While the reduction amounts to a 1% decrease, a prolonged outage would further dent already falling crude oil production that hit its lowest level in 45 years in February.The Akal-B platform…

Source of Huntington Beach Oil Spill Uncertain

Mar 11, 2024

The Unified Command concluded its response to an oil sheen observed offshore of Huntington Beach, California on Monday, but the source of the oil remains unclear.Over the weekend, cleanup crews recovered approximately 85 gallons of product from offshore recovery efforts and removed roughly 1…

MOL and Petrobras Sign Cargo Transfer Vessels Deals

Mar 06, 2024

Mitsui O.S.K. Lines (MOL) and Brazil’s state-owned energy giant Petrobras have signed a charter contract for cargo transfer vessel (CTV) SeaLoader 2, and agreed to start negotiations for a new CTV shipbuilding contract by the end of 2024.MOL signed the deal through its wholly owned subsidiary…

QatarEnergy Picks Up Five-Year Crude Supply Contract with Shell

Dec 28, 2023

Qatari oil and gas company QatarEnergy has announced a five-year crude oil supply agreement with Shell.The agreement stipulates the supply of up to 18 million barrels per annum of Qatar Land and Qatar Marine crude oils to Shell starting in January 2024…

North Sea Troll Oil Loadings to Fall, Oseberg Steady

Nov 28, 2023

January loadings of North Sea crude oil grade Troll will fall slightly from the previous month, with Oseberg loadings set to be steady from December, according to loading schedules seen by Reuters.A total of five cargoes - each 700,000 barrels - of Troll will load next month…

Norwegian October Oil and Gas Output Lags Forecasts

Nov 21, 2023

Norway's natural gas output rose in October from a four-year low in September but still lagged an official forecast, while crude oil production also fell behind expectations, the Norwegian Petroleum Directorate (NPD) said on Tuesday.Natural gas production in October rose to 328…

1 Million+ Gallons: Pipeline Leaking Oil in the Gulf of Mexico

Nov 20, 2023

The U.S. Coast Guard on Monday said it was still looking for the source of a leak from an underwater pipeline off the Louisiana coast in the Gulf of Mexico that it estimated had released more than a million gallons of crude oil.The 67-mile long…

U.S. Coast Guard Responds to Gulf of Mexico Oil Spill

Nov 20, 2023

The U.S. Coast Guard was leading an oil spill clean-up in the Gulf of Mexico on Friday, partnering with local and federal agencies and companies after a Main Pass Oil Gathering Co (MPOG) underwater pipeline began leaking.The crude oil pipeline…

Energy Transfer, TotalEnergies Pen Deal for Crude Oil Offtake from Blue Marlin Offshore Port

Nov 16, 2023

Energy Transfer LP has entered into a non-binding Heads of Agreement (HOA) with TotalEnergies related to term crude oil offtake from its proposed Blue Marlin Offshore Port for 4 million barrels per month. The HOA is subject to the negotiation…

KOTUG Bolsters Guyana Fleet with Three Offshore Terminal Tugs

Nov 14, 2023

KOTUG said Tuesday it had, via its Guyanese subsidiary KOTUG Guyana strengthened its position in Guyana with the arrival of three additional Offshore Terminal Tugs to support ExxonMobil Guyana’s offshore operations.With the arrival of KOTUG-owned ‘SD Grace’…

Cenovus Energy's Quarterly Profit Rises as Production Climbs

Nov 02, 2023

Canadian oil and gas firm Cenovus Energy's CVE.TO quarterly profit rose on Thursday, helped by strong demand for crude oil amid tight supplies and higher production.Supply cuts from OPEC+ countries led by Saudi Arabia and Russia kept the crude oil market tight…

No Restart for ExxonMobil's California Offshore Platforms as Judge Upholds Tanker Trucks Ban

Sep 28, 2023

A U.S. judge on Wednesday refused to overturn a California county's decision to block Exxon Mobil Corp from using tanker trucks to ship crude oil from coastal facilities to inland refineries while a ruptured pipeline is fixed.U.S. District Judge…

Norwegian August Gas Output Lags Official Forecast

Sep 21, 2023

Norway's natural gas output fell in August from July and lagged an official forecast, while crude oil exceeded expectations, the Norwegian Petroleum Directorate (NPD) said on Thursday. Natural gas production in August fell to 311.3 million cubic meters (mcm) per day from 322…

US Oil Output to Rise More than Expected in 2023

Sep 12, 2023

U.S. crude oil production is forecast to rise more than previously thought in 2023, while global oil inventories are expected to fall after Saudi Arabia extended output cuts this month, the Energy Information Administration said on Tuesday.U…

Hess Makes Oil Discovery in U.S. Gulf of Mexico. Eyes Tubular Bells Tie-back

Jul 26, 2023

U.S.-based oil company Hess said Wednesday it had made an oil discovery at the Pickerel-1 exploration well in the U.S. Gulf of Mexico.The well is located in Mississippi Canyon Block 727, where Hess holds a 100% stake.The well encountered approximately 90 feet of net pay in high quality…

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