Oil & Gas News
Enbridge was forced to close down the Athabasca pipeline following a spill at the Elk Point oil pumping station in Alberta. In a statement the company confirmed an estimated 1400BBLs of oil were released on Monday, with the failure of a flange gasket in the pumping station believed to be the cause of the spill.
Japan's coal and LNG imports surged by as much as a fifth in May from a year ago to replace lost nuclear energy after reactors were idled.
Motiva faces deepening woes at its Texas refinery with sources saying that a new crude unit at the project may be shut for up to a year due to extensive corrosion, more than twice as long as initially expected.
The Bureau of Ocean Energy Management has said it received nearly 600 bids on 454 blocks in advance of the US' first lease sale in central Gulf of Mexico since the 2010 Macondo blowout and oil spill.
Mexico's state oil monopoly has awarded four contracts to drill mature oilfields in the second round of bidding to open up the country's nationalized oil industry to more private investment.
According to the former Algerian oil minister, OPEC's decision last week to maintain the crude production ceiling gives Saudi Arabia flexibility to cut output depending on demand.
China's stockpiles of crude for commercial use rose to their highest level in eight months in May as imports picked up, according to customs data.
EU's Ashton said that world powers and Iran have agreed a technical follow-up meeting in Istanbul on July 3 and world powers remain unified in seeking a diplomatic solution to the nuclear dispute with Iran.
Japan's parliament have passed a bill to provide USD 7.6bln of sovereign insurance to tanker owners that carry Iranian oil as it seeks to maintain supplies amid EU sanctions.
Technip has been awarded an engineering, procurement, installation and procurement contract for Marathon Oil's Boyla field in the Norwegian North Sea.
ExxonMobil has released emissions of sulphur dioxide, nitrogen oxides and volatile organic compounds from its Baytown, Texas oil refinery after an electrical surge caused pumps to shut down.
According to Weather Derivatives, temperatures in the US will be 0.2% warmer than average over the next 6-10 days, with particularly warm weather in the South Central area. Using data accurate as of the 19th June.
Tropical storm Chris is moving eastwards across the North Atlantic south of Newfoundland with 45mph winds and should become a post-tropical cyclone tomorrow, according to the NHC.
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