BIC MAGAZINE

Limetree Bay refinery to shut indefinitely after just a few months of operating

Limetree Bay Energy will shut its St. Croix refinery indefinitely due to financial problems, the company said Monday, after a series of operational setbacks shuttered the facility.

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  • June 22 @ 8:11 am

It’s too late to avoid a major oil supply crisis

There are a number of observable trends in oil supplies and by extension prices, presently. I am going to discuss one of them in this article. A lack of capital investment in finding new supplies of oil and gas.

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  • June 22 @ 6:30 am

WTI-Brent spread narrows as oil market tightens

The price gap between the world’s two most actively traded oil contracts narrowed to its lowest in more than seven months, demonstrating that U.S. oil output is still in the COVID-19 doldrums with the market likely to remain undersupplied.

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  • June 21 @ 12:07 pm

Magellan and Enterprise team up with Intercontinental Exchange for new Houston crude oil futures contract

Magellan Midstream Partners, L.P., Enterprise Products Partners L.P. and Intercontinental Exchange, Inc. announced the establishment of a new futures contract for the physical delivery of crude oil in the Houston area.

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  • June 21 @ 11:22 am

BASF advances chemical recycling program with UL validation

BASF is implementing innovative chemical processes that convert some waste streams into new, valuable raw materials.

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  • June 18 @ 8:00 am

The solar energy segment looks set to continue its expansion

Solar energy is expected to play an increasingly important role in the global energy infrastructure, according to a research report by Mordor Intelligence LLP.

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  • June 18 @ 6:30 am

N. American oil service firms’ pricing and hiring on the upswing

U.S. crude production, which plummeted during the coronavirus pandemic, is ticking back up, despite generally flat spending by oil and gas producers.

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  • June 17 @ 9:02 am

U.S. judge orders resumption in federal drilling auctions in setback for Biden

A federal judge in Louisiana has blocked the Biden administration’s pause on oil and gas leasing on public lands and waters, dealing a setback to a key White House effort to address climate change.

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  • June 16 @ 8:04 am

Equinor awards Subsea Integration Alliance EPCI contract for Bacalhau

Houston-based Schlumberger announced Tuesday an award to Subsea Integration Alliance of a large contract by Equinor on its Bacalhau project offshore Brazil.

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  • June 16 @ 6:30 am

Lake Charles fire partly to blame for ‘worst chlorine shortage the country has ever seen’

A fire last August in south Louisiana during Hurricane Laura is being blamed in part for creating “the worst chlorine shortage the country has ever seen”—much to the dismay of swimming pool owners, The Washington Post reports.

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  • June 15 @ 9:00 am

Ara Partners acquires Anesco Holdings, parent co. of UK’s renewable energy Anesco Group

Houston-based Ara Partners, an industrial decarbonization-focused private equity firm, announced that it has acquired Anesco Holdings, the parent company of the Anesco Group.

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  • June 15 @ 6:30 am

Magellan Midstream announces sale of independent terminals

Magellan intends to use the proceeds from this transaction consistent with its stated capital allocation priorities.

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  • June 14 @ 3:01 pm

Shell weighs blockbuster sale of Texas shale assets

Royal Dutch Shell is reviewing its holdings in the largest U.S. oil field for a potential sale, reports Reuters, marking a key moment in its shift away from fossil fuels as it faces growing pressure to slash carbon emissions.

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  • June 14 @ 8:11 am

NexTier announces successful field test of natural gas-powered eFrac engines

NexTier Oilfield Solutions Inc. announced that it successfully field tested the NOV Ideal eFrac pump with power sourced from multiple natural gas reciprocating engines.

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  • June 13 @ 6:30 am

Schlumberger and Panasonic Energy collaborate on new lithium production process

Houston-based oil field services giant Schlumberger and Panasonic Energy of North America will collaborate on a new battery-grade lithium production process to be used by Schlumberger New Energy at its Neolith Energy pilot plant in Nevada.

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  • June 12 @ 6:30 am

Biden considers giving refiners relief from U.S. biofuel laws, sources say

President Joe Biden’s administration, under pressure from labor unions and U.S. senators including from his home state of Delaware, is considering ways to provide relief to U.S. oil refiners from biofuel blending mandates.

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  • June 11 @ 3:09 pm

Ascend expands HiDura LCPA production capacity

Ascend Performance Materials has expanded production capacity for HiDura long-chain polyamides in its Greenwood, S.C., plant.

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  • June 11 @ 6:30 am

Occidental Petroleum hones in on divestment goal with $508M deal

Houston-based Occidental Petroleum continues its divestment campaign with a new  $508 million deal to sell Permian Basin acreage to Colgate Energy Partners III LLC, a Midland, Texas-based oil and gas producer.

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  • June 10 @ 5:17 pm

Developer officially cancels Keystone XL pipeline project

A $9 billion oil pipeline that became a symbol of the rising political clout of climate change advocates and a flash point in U.S.-Canada relations was officially canceled on Wednesday.

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  • June 10 @ 11:50 am

Brightmark to invest $680M in world’s largest advanced plastics recycling facility

Brightmark, the global waste solutions provider, announced that it will build the world’s largest advanced plastics recycling and renewal facility in Macon-Bibb County, Georgia.

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  • June 10 @ 6:30 am

Indorama Ventures to develop new IOD research center in The Woodlands, Texas

Indorama Ventures Public Company Limited, a global petrochemical producer, has started developing a new technology center under its Integrated Oxides & Derivatives (IOD) business at The Woodlands, Texas.

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  • June 9 @ 10:40 am

Biden suspends oil and gas leases in ANWR

The action reverses efforts to expand fossil fuel development in the United States, and delivers a setback to the Alaskan state government which had hoped opening the enormous refuge would help revive its declining oil industry.

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  • June 9 @ 7:00 am

U.S. power use to rise in 2021 as governments ease lockdowns -EIA

U.S. power consumption will rise 2.0% this year as state and local governments ease coronavirus lockdowns, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO).

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  • June 9 @ 6:30 am

Plains All American to sell natural gas assets to Hartree for $850M

Houston-based Plains All American has reached a deal to sell its Pine Prairie and Southern Pines natural gas storage facilities to an affiliate of Hartree Partners for $850 million.

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  • June 8 @ 4:23 pm

Contango Oil & Gas to merge with Independence Energy

Contango Oil & Gas Co. will merge with Independence Energy, LLC, an upstream oil and gas business built and managed by KKR’s Energy Real Assets team.

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  • June 8 @ 11:02 am

Enbridge announces $1.14 billion sale of its financial interest in Noverco

Sale proceeds will initially be used to repay short term debt, and on this conservative basis the transaction is expected to be neutral to distributable cash flow per share.

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  • June 8 @ 9:14 am

Cryopeak LNG Solutions announces new production facility

Cryopeak LNG Solutions Corporation, a Richmond, BC based company, has announced the commencement of operations at its new liquefied natural gas (LNG) production facility in Fort Nelson, BC.

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  • June 7 @ 11:28 am

Energy giant Total rebrands in shift to renewables

Paris-based energy giant Total made it official at its recent shareholders meeting and changed its name to TotalEnergies in a strategic effort to identify as a broad energy company.

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  • June 7 @ 10:55 am

Effective project management ensures smooth turnarounds

Have you ever pulled up to a gas pump and stepped out of your car only to realize your gas cap is on the other side? How frustrating. Now imagine you are pulling into a congested petrochemical plant driving a flatbed tractor-trailer.

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  • June 7 @ 9:02 am

PRI launches website to make case for increased energy competition

Aiming to provide market-based analyses and perspective to educate about policies impacting competitive electricity markets, the PRI – a California-based, nonpartisan, free-market think tank – launched the “Electricity Reality Report.”

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  • June 7 @ 6:30 am

Stabilis acquires LNG production facility in Port Allen, Louisiana

Stabilis Solutions, Inc., a leading provider of energy transition services, announced the acquisition of an LNG production facility in Port Allen, Louisiana from HR Nu Blu Energy, LLC.

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  • June 4 @ 2:20 pm

New report says Biden energy policy is misleading and unattainable

Recent experiences in three states provide an insight into how problematic President Joe Biden’s push for renewable energy could be for electric customers nationwide, according to a new report from Power the Future.

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  • June 4 @ 9:41 am

Enable Midstream announces FERC approval of the Gulf Run Pipeline project

Enable Midstream Partners, LP announced that the Federal Energy Regulatory Commission (FERC) has granted approval to construct and operate the Gulf Run Pipeline project under section 7(c) of the Natural Gas Act.

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  • June 4 @ 8:54 am

BP invests $220 million in U.S. solar projects

BP boosted its investment in U.S. renewables with a $220 million purchase of solar projects from developer 7X Energy.

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  • June 3 @ 10:09 am

Marathon’s Los Angeles refinery recognized for community partnership and investment

Marathon’s Los Angeles refinery has been honored for a level of community investment that sets it apart from hundreds of companies in the surrounding region.

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  • June 3 @ 8:30 am

Nacero selects Bechtel for development of energy transition infrastructure facility in the Permian Basin

Houston-based Nacero has awarded Bechtel the Front-End Engineering and Design (FEED) contract for the first natural gas-to-gasoline manufacturing facility in the United States.

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  • June 3 @ 6:30 am

Southwestern Energy to acquire Indigo Natural Resources in $2.7B deal

Southwestern Energy Company has reached a $2.7 billion deal to acquire Houston-based natural gas production company Indigo Natural Resources, LLC.

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  • June 2 @ 2:46 pm

Tellurian to sell LNG to Gunvor, delays Louisiana project start

U.S. liquefied natural gas (LNG) developer Tellurian Inc. signed a 10-year agreement with commodity trader Gunvor Group for 3 million tonnes per annum (MTPA) of LNG.

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  • June 2 @ 8:41 am

Houston’s Kinder Morgan to purchase Stagecoach Gas Services

Kinder Morgan, Inc. announced that it will acquire Stagecoach Gas Services LLC, a natural gas pipeline and storage joint venture between Consolidated Edison, Inc. and Crestwood Equity Partners LP.

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  • June 2 @ 6:30 am

Energy Secretary Granholm touts clean energy investment, jobs plan in first Houston visit

From grid resiliency to electric vehicles to renewable fuel sources, the secretary of the U.S. Department of Energy sees opportunity for Houston to be a leader in a clean energy transition.

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  • June 1 @ 12:09 pm

OPEC+ sticks to plan to ease supply cuts through July

OPEC+ oil producers agreed on Tuesday to stick to the existing pace of gradually easing supply curbs through July, as they sought to balance expectations of a recovery in demand against a possible increase in Iranian supply.

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  • June 1 @ 11:53 am

Chevron Phillips Chemical breaks ground on world-scale 1-hexene unit in Old Ocean, Texas

Chevron Phillips Chemical recently broke ground on a new world-scale unit for on-purpose 1-hexene in Old Ocean, Texas, near its Sweeny facility.

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  • June 1 @ 11:07 am

Pro-Surve has acquired Walzel Technical Services

Pro-Surve Technical Services Acquisitions, LLC has acquired Walzel Technical Services, Inc., an established and proven Inspection Service provider in Ingleside, TX, and the South Texas Region for more than 30 years.

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  • May 28 @ 9:19 am

Gas prices at the highest in 7 years

U.S. motorists will see the highest gasoline prices in seven years when they hit the roads this Memorial Day weekend, the traditional start of the summer driving season.

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  • May 28 @ 6:16 am

Tellurian and Gunvor sign 10-year LNG agreement

The LNG would be delivered free on board from Tellurian’s Driftwood LNG, a 27.6 mtpa liquefaction facility proposed near Lake Charles, Louisiana in the United States Gulf Coast.

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  • May 28 @ 6:07 am

Tellurian Inc. and Gunvor Singapore Pte Ltd announced an LNG sales and purchase agreement

The LNG would be delivered free on board from Tellurian’s Driftwood LNG, a 27.6 mtpa liquefaction facility proposed near Lake Charles, Louisiana in the United States Gulf Coast.

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  • May 28 @ 6:07 am

Biden shuns U.S. miners

U.S. President Joe Biden will rely on ally countries to supply the bulk of the metals needed to build electric vehicles and focus on processing them domestically into battery parts, part of a strategy designed to placate environmentalists.

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  • May 27 @ 7:20 am

U.S. natural gas generation sees its first year-over-year decline in three years

In the first four months of 2021, natural gas-fired generation in the lower 48 states has decreased by nearly 7% from the same period in 2020, said a report from U.S. Energy Information Administration (EIA).

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  • May 27 @ 6:30 am

MSA Safety to expand gas detection business with acquisition of Bacharach

Global safety equipment manufacturer MSA Safety Incorporated announced that it has entered into a definitive agreement to acquire Bacharach, Inc. and its affiliated companies from FFL Partners, in a transaction valued at $337 million.

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  • May 26 @ 2:44 pm

Exxon scrambles to stave off dissidents as board fight nears climax

Exxon’s business strategy hung in the balance on Wednesday as it scrambled to stave off a challenge from investors aiming to reshape its board and align the largest international oil major’s growth plans with global moves to combat climate change.

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  • May 26 @ 10:25 am

U.S. to boost pipeline cyber protections in wake of Colonial hack

The Biden administration is working with pipeline companies to strengthen protections against cyberattacks following the Colonial Pipeline hack and will announce actions in coming days, the Department of Homeland Security (DHS) said on Tuesday.

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  • May 26 @ 6:30 am

ACER planning new $2B refinery, makes bid for Shell’s Convent, LA facility

Baton Rouge-based American Clean Energy Refining today announced its plan to construct a new, $2 billion oil and gas refinery near the former Shell facility in Convent.

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  • May 25 @ 10:14 am

Halliburton shareholders disapprove of 2020 exec compensation

The shareholders who own Houston-based Halliburton Co., one of the largest oil field equipment and service companies in the world, have voted against the proposed executive compensation plan in an advisory motion, the company.

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  • May 25 @ 8:30 am

Shell to sell interest in Deer Park refinery to partner Pemex

Shell Oil Company, a subsidiary of Royal Dutch Shell plc, has reached an agreement for the sale of its interest in Deer Park Refining Limited Partnership, a 50-50 joint venture between Shell Oil Company and Pemex.

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  • May 24 @ 4:02 pm

Cabot Oil & Gas, Cimarex to create $17 bln producer in ‘surprise’ merger

Cabot Oil & Gas Corp and Cimarex Energy Co agreed to merge to form a U.S. oil and gas producer with an enterprise value of about $17 billion, the latest deal in a sector rebounding from one of its worst downturns.

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  • May 24 @ 11:31 am

Medallion Pipeline launches non-binding open season for EPIC pipeline

Medallion Pipeline Company, LLC announced that it has launched a non-binding open season for its capacity that is leased on EPIC Crude Pipeline, LP’s crude oil pipeline system.

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  • May 24 @ 11:08 am

TXOGA applauds Texas House of Representatives on passage of HB 2730

The Texas State Senate is considering a bill that the Texas oil and natural gas industry has worked closely on for the past 6 years.

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  • May 24 @ 6:30 am

EIA: Natural gas and oil will remain integral

Natural gas and oil will remain central to meeting our nation’s energy needs well into the future — so says the nonpartisan U.S. Energy Information Administration (EIA) in its 2021 Annual Energy Outlook.

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  • May 21 @ 3:12 pm

Oasis Petroleum to sell entire Permian Basin position, total of $481MM

Houston-based Oasis Petroleum Inc. announced that it will sell its entire Permian Basin position in multiple deals for a total of $481MM.

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  • May 21 @ 9:27 am

Oil falls 2% on possible return of Iranian supply

Oil prices fell more than 2% on Thursday, marking a third day of losses, after diplomats said progress was made toward a deal to lift U.S. sanctions on Iran, which could boost crude supply.

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  • May 21 @ 6:30 am

CIRCON acquires Bealine Environmental Services

The addition of Bealine adds another CWT facility to CIRCON’s roster of eight highly strategic facilities, including four CWTs, two RCRA Part B facilities and two diversified co-products processing facilities.

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  • May 20 @ 7:57 pm

Hyliion partners with Texas-based oil & gas industry leader for fleet electrification

Hyliion Holdings Corp., a leader in electrified powertrain solutions for Class 8 semi-trucks, today announced that it has partnered with frac sand solutions provider Detmar Logistics LLC.

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  • May 20 @ 10:47 am

U.S. considers sanctions on Chinese manufacturing of solar panels

The Biden administration is considering sanctions over China’s alleged use of forced labor in manufacturing of solar panels and other climate-friendly production.

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  • May 20 @ 6:30 am

Colonial paid off hackers

Chief Executive Joseph Blount said he paid the extortion money for the greater good.

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  • May 19 @ 11:07 am

Ranger Energy acquires Patriot Completion with another deal

Houston-based Ranger Energy Services, Inc. has acquired oil field services company, Patriot Completion Solutions LLC., expanding Ranger’s wireline business while also preserving its balance sheet.

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  • May 19 @ 6:30 am

Weyerhaeuser investing in Holden Mill

Louisiana Gov. John Bel Edwards and Weyerhaeuser announced the company plans to make a two-phased capital investment in its Holden facility.

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  • May 18 @ 10:17 am

ExxonMobil proposes splitting contracts for workers at a Texas refinery

Exxon Mobil Corp has proposed separate pay and contract terms for workers who make gasoline and Mobil 1 motor oil at its Beaumont, Texas, facility and a revamping of rules governing refinery jobs, a message posted on a company website showed.

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  • May 18 @ 6:30 am

Howard Energy partners to expand its Port Arthur facility to support local renewable diesel production

HEP announced a long-term agreement with DGD, which includes a 50/50 joint venture between Valero Energy Corporation and Darling Ingredients Inc., and plans to significantly expand its Port Arthur terminal facilities.

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  • May 18 @ 6:30 am

Exxon proposes splitting contracts for workers at a Texas refinery

Exxon Mobil Corp has proposed separate pay and contract terms for workers who make gasoline and Mobil 1 motor oil at its Beaumont, Texas, facility and a revamping of rules governing refinery jobs, a message posted on a company website showed.

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  • May 18 @ 6:30 am

Proposed Louisiana Sugar Refining expansion could boost output of Gramercy plant by 50%

Louisiana Sugar Refining is expanding its Gramercy refinery, a move the company said will potentially boost its capacity by 50%.

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  • May 17 @ 10:58 am

U.S. Supreme Court backs energy companies over Baltimore in climate case

The U.S. Supreme Court on Monday ruled in favor of BP PLC (BP.L), Chevron Corp (CVX.N), Exxon Mobil Corp (XOM.N), Royal Dutch Shell PLC (RDSa.L) and other energy companies contesting a lawsuit.

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  • May 17 @ 8:30 am

Upstream spending, cut by $285 billion in two years

The toll of the Covid-19 pandemic on upstream investments in the first two years of the downturn is estimated at a whopping $285 billion.

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  • May 17 @ 6:30 am

Louisiana AG files lawsuit to stop Biden executive order

Around the world, the United States of America is known as the land of opportunity. Our abundant resources, personal liberties, and open markets empower individuals to turn willpower into success.

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  • May 14 @ 11:07 am

Fighting Biden’s cost of opportunity

Around the world, the United States of America is known as the land of opportunity. Our abundant resources, personal liberties, and open markets empower individuals to turn willpower into success.

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  • May 14 @ 11:07 am

U.S. senator introduces bill to aid states hit by federal oil leasing pause

Democratic Senator Martin Heinrich on Thursday introduced a bill that would help states that rely on oil and gas revenue weather the U.S. transition away from fossil fuels . . .

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  • May 14 @ 6:30 am

Mitsubishi Power and Texas Brine join forces to develop large-scale long-duration hydrogen storage solutions

Mitsubishi Power Americas, Inc., and Texas Brine Company, LLC have signed an agreement to develop large-scale long-duration hydrogen storage solutions to support decarbonization efforts across the eastern United States.

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  • May 13 @ 10:49 am

Mitsubishi Power and Texas Brine join forces to support decarbonization efforts

Mitsubishi Power Americas, Inc., and Texas Brine Company, LLC have signed an agreement to develop large-scale long-duration hydrogen storage solutions to support decarbonization efforts across the eastern United States.

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  • May 13 @ 10:49 am

Raven Butene-1, LLC partners with Enchanted Rock

Enchanted Rock announced that Raven Butene-1, LLC has awarded Enchanted Rock a contract to provide managed power resiliency for the Raven Ethylene-to-Butene-1 processing facility located in Baytown, Texas.

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  • May 13 @ 10:07 am

Hacked Colonial Pipeline back online

The Colonial Pipeline has begun to deliver fuel across the eastern seaboard once again as gas stations begin to run dry.

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  • May 13 @ 6:30 am

Fuel shortages worsen on top U.S. fuel pipeline outage

Fuel shortages worsened in the southeastern United States, as the shutdown of the largest U.S. fuel pipeline network continued and gasoline stations ran out of supply in some cities.

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  • May 12 @ 10:57 am

Fuel shortages worsen on sixth day of top U.S. fuel pipeline outage

Fuel shortages worsened in the southeastern United States on Wednesday, as the shutdown of the largest U.S. fuel pipeline network entered its sixth day and gasoline stations ran out of supply in some cities.

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  • May 12 @ 10:57 am

Chevron and Noble Midstream announce merger complete

Chevron Corporation and Noble Midstream Partners LP announced today that the companies have completed the previously announced acquisition, which resulted in Noble Midstream becoming an indirect, wholly-owned subsidiary of Chevron.

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  • May 11 @ 11:00 am

Westlake Chemical considering PVC, ethylene expansions: CEO

Westlake Chemical is scoping expansion opportunities to meet growing demand for construction staple polyvinyl chloride and possibly increasing its internal ethylene production, CEO Albert Chao said May 4.

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  • May 11 @ 9:25 am

Colonial working to restore operational service by end of week

Colonial Pipeline, the largest fuel pipeline in the United States, expects to “substantially” restore operational service by the end of the week, the company said on Monday.

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  • May 11 @ 6:30 am

Colonial Pipeline hackers want money, not chaos

The group accused of a ransomware attack that crippled the leading U.S. fuel pipeline operator said in a news release on Monday that its goal was to make money and not to sow chaos.

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  • May 10 @ 12:28 pm

U.S. and top fuel supplier work to secure cyberattacked pipelines

The U.S. government and the top fuel pipeline operator in the United States on Monday worked to secure cyberattacked pipelines.

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  • May 10 @ 10:29 am

Fiber-reinforced polymers have many industrial applications

Penhall’s FRP structural reinforcement solutions have garnered interest from various manufacturing facilities, including wastewater treatment, refining, chemical, manufacturing, and pulp and paper – and for good reason.

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  • May 6 @ 2:00 pm

NRG Energy names Houston its main headquarters

NRG Energy, Inc. announced today it has named Houston its sole headquarters and has selected Alberto Fornaro as new executive vice president and CFO.

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  • May 6 @ 1:58 pm

POCC and Stabilis Solutions partner together

Port of Corpus Christi Authority and Stabilis Solutions Partner to Construct LNG Fueling Infrastructure for Marine Vessels.

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  • May 6 @ 7:05 am

HollyFrontier to buy Puget Sound Refinery from Shell

HollyFrontier will buy the Puget Sound refinery near Anacortes for $350 million in cash, plus hydrocarbon inventory to be valued at closing with an estimated current value of $150 million to $180 million.

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  • May 6 @ 6:30 am

Shintech expansion’s first phase to be completed in mid-2021

The first phase of U.S. polyvinyl chloride producer Shintech’s PVC expansion in Louisiana remains on track to finish construction in mid-2021.

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  • May 5 @ 2:03 pm

Winn & Coales International Ltd Acquires the global Viscotaq™ business, including Amcorr Products and Service

Winn & Coales International Ltd announce the acquisition of the global Viscotaq™ business.

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  • May 5 @ 10:03 am

Shortage of truckers, big freeze and other factors to cause higher gas prices this summer

Americans planning summer travel can expect to pay more at the pump, with gasoline prices potentially reaching $3.50 a gallon as people who have been stuck indoors due to the coronavirus pandemic take to the road,

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  • May 5 @ 8:27 am

Mountain Valley natgas pipeline start delayed to summer 2022

That timeline was in line with several analysts’ forecasts. Earlier, the Mountain Valley Pipeline (MVP) venture expected the project to enter service by the end of 2021 at an estimated cost of $5.8 billion-$6 billion.

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  • May 5 @ 6:30 am

Marathon Petroleum announces wind power agreement for Dickinson renewable diesel facility

Marathon Petroleum Corporation has signed an agreement with One Energy Enterprises LLC to install five 2.3 megawatt wind turbines at MPC’s renewable diesel facility in Dickinson, N.D.

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  • May 4 @ 10:40 am

River pilots vs. big industry: War over 6-figure pay is about to get plenty more attention

Most of the skirmishing has played out in obscure regulatory meetings, with occasional faceoffs in court. Now, for the first time in years, the battle will move to the Louisiana Legislature.

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  • May 4 @ 10:29 am

Increased air travel is beginning to increase U.S. jet fuel consumption

In recent weeks, the number of air travel passengers has increased in the United States, which may indicate a corresponding near-term increase in jet fuel demand. Jet fuel demand has been at historic lows since April 2020.

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  • May 4 @ 6:30 am

Mexican Congress backs measure to remove curb on Pemex market power

Mexico’s Senate approved an initiative to remove certain limits on the market power of Petroleos Mexicanos (Pemex), in the latest boost for the state oil company under President Andres Manuel Lopez Obrador.

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  • May 3 @ 9:50 am

Innovative solution optimizes produced water disposal

Most oil shale fields include pipeline infrastructure to gather produced water from wells. Pipelines transfer the water to temporary storage at either a disposal well location or at a central treatment facility.

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  • May 3 @ 12:00 am

Outlet Support Grid reduces pressure drop in reactors

Woven Metal Products (WMP) is proud of its state-of-the-art fabrication facility located in Alvin, Texas.

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  • May 3 @ 12:00 am

Continental Resources ramping up Bakken operations, adds rigs to Powder River Basin

Shale oil producer Continental Resources said it will ramp up activity in North Dakota’s Bakken shale field this year as it shifts more of its production operations to crude oil from natural gas.

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  • April 30 @ 7:00 am

CenterPoint to sell Arkansas, Oklahoma gas utilities for $2.15 billion

A sale would help funding CenterPoint’s turnaround strategy outlined last December, when the company floated plans to hike its spending as it tries to grow annual earnings by up to 8% and add renewable energy to its portfolio.

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  • April 30 @ 6:30 am

U.S. Supreme Court tackles pipeline company’s bid to seize New Jersey land

The U.S. Supreme Court on Wednesday wrestled with a bid by a group of energy companies seeking to seize land owned by New Jersey to build a $1 billion natural gas pipeline, as the state argues that its rights would be trampled.

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  • April 29 @ 10:13 am

Standard Industries Holdings to acquire Grace

The closing of the transaction is subject to customary closing conditions, including approval by Grace shareholders and the receipt of certain regulatory approvals.

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  • April 29 @ 7:00 am

U.S. auto suppliers oppose setting gas-powered phaseout date

A group representing auto suppliers told U.S. lawmakers it opposes setting a firm date to end the sale of new gasoline-powered passenger cars and expects those vehicles will be sold for at least another 20 years.

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  • April 28 @ 6:30 am

ExxonMobil announces discovery at Uaru-2 offshore Guyana

Uaru-2 will add to the previously announced gross discovered recoverable resource estimate for the block, which is currently estimated to be approximately 9 billion oil-equivalent barrels.

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  • April 27 @ 9:57 am

Strategic Biofuels to develop renewable diesel plant in Louisiana

Gov. John Bel Edwards and CEO Paul Schubert of Strategic Biofuels LLC announced that the company’s wholly owned subsidiary, Louisiana Green Fuels, plans to develop a renewable diesel plant near the Caldwell Parish seat of Columbia.

  • BIC MAGAZINE
  • April 27 @ 6:30 am

Colonial Pipeline spill underestimated

Colonial Pipeline, the largest refined products pipeline in the U.S., issued a statement that it underestimated the size of the gasoline spill released in August 2020 in Mecklenburg County’s Oehler Nature Preserve.

  • BIC MAGAZINE
  • April 26 @ 11:45 am

U.S. oil rig count falls for first week since March

U.S. energy firms cut the number of oil rigs operating for the first time since March even though higher oil prices in recent months have prompted some drillers to return to the wellpad.

  • BIC MAGAZINE
  • April 26 @ 11:27 am

Starwood Energy proposes $8B investment in Texas power infrastructure

Starwood, in a letter to the Public Utility Commission of Texas (PUCT), said its proposal would help solve reliability problems that came to a head after nearly half the state’s power generation was knocked out during a February freeze.

  • BIC MAGAZINE
  • April 26 @ 8:04 am

Koch Engineered Solutions and Fidelis Infrastructure, LP partner for $9.2 billion investment in Louisiana

The $9.2 billion multi-year program is located at the Port of Greater Baton Rouge and is expected to create more than 5,000 direct and indirect quality jobs.

  • BIC MAGAZINE
  • April 23 @ 6:30 am

ExxonMobil expands renewable fuel agreement amid clean energy push

ExxonMobil said it has expanded an agreement to buy more renewable diesel from Global Clean Energy’s biorefinery in Bakersfield, California, as climate policies pressure companies to cut their carbon emissions and opt for cleaner fuels.

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  • April 22 @ 11:14 am

Chevron and Toyota pursue strategic alliance on hydrogen

Chevron and Toyota are seeking to work on three main strategic priorities.

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  • April 22 @ 6:01 am

Warren equity announces acquisition of Magnolia River

Warren Equity acquired a majority interest in Magnolia River from Founder Ronnie Hoff and other shareholders.

  • BIC MAGAZINE
  • April 21 @ 4:45 pm

U.S. crude and gasoline stocks edge up, distillates draw down

U.S. crude oil stockpiles unexpectedly edged higher last week, while distillate inventories fell and gasoline stocks built modestly as refining rates held steady.

  • BIC MAGAZINE
  • April 21 @ 1:17 pm

Oil demand set to peak at 101.6 million bpd in 2026

The adoption of electrification in transport and other oil-dependent sectors is accelerating and is set to chip away at oil sooner and faster than in our previous forecast.

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  • April 21 @ 8:30 am

New Fortress Energy completes acquisition of Hygo Energy Transition Ltd

The combined transactions are valued at a $5.1 billion enterprise value and a $2.43 billion equity value.

  • BIC MAGAZINE
  • April 20 @ 2:45 pm

Oil hits $68 due to disruptions

Oil rose to $68 a barrel and hit its highest in a month on Tuesday, supported by disruption to Libyan exports and expectations of a drop in U.S. crude inventories, though rising coronavirus cases in Asia limited gains.

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  • April 20 @ 9:52 am

German chemicals firm Covestro sees sustained growth

Robust demand and high chemicals prices mean Covestro expects volumes and margins to continue rising beyond 2021.

  • BIC MAGAZINE
  • April 19 @ 2:17 pm

Aruba aims to sign LNG deal for refinery site next month

Aruba’s state-owned refining company Refineria di Aruba (RdA) plans to sign a deal with Houston-based Eagle LNG Partners to build a liquefied natural gas import terminal on the site of its idled refinery as soon as next month.

  • BIC MAGAZINE
  • April 19 @ 9:28 am

U.S. natgas futures rise to 6-wk high on record exports, cool weather

U.S. natural gas futures rose to a six-week high on Monday on forecasts for more heating demand this week than previously expected and near-record liquefied natural gas (LNG) and pipeline exports.

  • BIC MAGAZINE
  • April 19 @ 9:19 am

Oil nudges lower but set for weekly gain on demand recovery hopes

Oil was modestly lower on Friday but headed for a weekly gain as a stronger demand outlook and signs of economic recovery in China and the United States offset concerns about rising COVID-19 infections in other major economies.

  • BIC MAGAZINE
  • April 16 @ 12:14 pm

EPA seeks oil, corn sectors’ input on next phase of U.S. biofuel policy

The U.S. Environmental Protection Agency has asked industry groups for their input on the future of the nation’s biofuel policy after it ends its current phase in 2022.

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  • April 16 @ 11:55 am

BP announces oil discovery in Gulf of Mexico

BP has announced an oil discovery at the Puma West prospect in the deepwater U.S. Gulf of Mexico.

  • BIC MAGAZINE
  • April 15 @ 10:27 am

BP announces advantaged oil discovery in Gulf of Mexico

BP has announced an oil discovery at the Puma West prospect in the deepwater U.S. Gulf of Mexico.

  • BIC MAGAZINE
  • April 15 @ 10:27 am

Chevron And Honeywell announce start-up

Chevron Corporation and Honeywell announced the commissioning and start-up of the world’s first commercial-scale ISOALKY process unit that utilizes ionic liquids to produce alkylate.

  • BIC MAGAZINE
  • April 15 @ 6:30 am

Southern Star pipeline completed to Motiva

The Southern Star pipeline project consists of a 24-inch crude oil pipeline connecting the Jefferson Energy terminal to the Motiva Port Neches terminal in Port Neches, TX.

  • BIC MAGAZINE
  • April 15 @ 6:00 am

Caxxor Group selects leader of Canadian operations

A $3.3 billion infrastructure project connecting Winnipeg’s Centerport to Mexico’s Pacific coast near Mazatlán took a step forward after it selected Canadian firm ENGAGE CONSTRUCTION MANAGEMENT & CONSULTING INC. as its leader of Canadian operations.

  • BIC MAGAZINE
  • April 14 @ 4:41 pm

Gulf of Mexico crude oil production will increase with new projects in 2021 and 2022

By the end of 2022, 13 new projects could account for about 12% of total GOM crude oil production, or about 200,000 barrels per day (b/d).

  • BIC MAGAZINE
  • April 14 @ 10:13 am

Oil prices move higher as fears of COVID-19 continue

The International Energy Agency (IEA) predicted global oil demand and supply were set to rebalance in the second half of the year and that producers may then need to pump an additional 2 million barrels per day (bpd) to meet the expected demand.

  • BIC MAGAZINE
  • April 14 @ 8:31 am

DiamondBack Energy raises production futures as oil prices rise

Commodity prices are picking up as the global roll-out of vaccines against COVID-19 gains momentum, after a year where the health crisis decimated demand in the energy sector and hammered debt-laden shale companies.

  • BIC MAGAZINE
  • April 14 @ 8:20 am

Is a central natural gas clearinghouse the answer for Texas and future winter storms?

Texas should consider a central clearinghouse around natural gas and electricity stated Bob Herman, executive vice president of Phillips 66, in case of future cold weather events like the recent winter storm.

  • BIC MAGAZINE
  • April 12 @ 2:13 pm

Jones Capital acquires Rockport Terminals

The acquisition is the third in two years for Jones Capital, a growing provider of private capital to lower middle market businesses in the transportation and logistics, technology, industrial, and business services markets.

  • BIC MAGAZINE
  • April 12 @ 10:07 am

Veolia agrees to deal for arch-rival Suez

Merger of world’s 2 largest water and waste groups after long-running takeover battle reshapes market sector

  • BIC MAGAZINE
  • April 12 @ 9:12 am

Veolia agrees deal for arch-rival Suez

Merger of world’s 2 largest water and waste groups after long-running takeover battle reshapes market sector

  • BIC MAGAZINE
  • April 12 @ 9:12 am

Dakota Access pipeline to remain open

The Dakota Access pipeline will remain in operation while the federal government reviews its environmental impacts.

  • BIC MAGAZINE
  • April 9 @ 2:42 pm

U.S. Army Corps may reveal fate of Dakota Access pipeline at hearing

The pipeline drew fierce opposition from climate activists and Native American tribes, with months of protests. Eventually, the Trump administration authorized a key permit to complete construction and the pipeline entered service in 2017.

  • BIC MAGAZINE
  • April 9 @ 6:50 am

ExxonMobil explores sale of elastic polymer business

Exxon Mobil Corp is exploring a sale of its Advanced Elastomer Systems (AES) division, potentially valuing the elastic polymer maker at around $800 million including debt.

  • BIC MAGAZINE
  • April 8 @ 7:30 am

Biden tax plan replaces fossil fuel subsidies with incentives for clean energy

The proposal is part of wider plan on taxes, which includes boosting the corporate income tax rate from 21% to 28%, linked to Biden’s $2.3 trillion infrastructure package.

  • BIC MAGAZINE
  • April 8 @ 6:40 am

Chevron and Hokkaido Gas Co., Ltd. agree to LNG deal

Chevron Corporation announced its wholly-owned subsidiary Chevron U.S.A. Inc. has signed a binding Sale and purchase agreement with Hokkaido Gas Co., Ltd. for the delivery of liquefied natural gas.

  • BIC MAGAZINE
  • April 7 @ 8:40 am

Jet fuel demand on the rise

Jet fuel demand is picking up, according to a senior refining executive, which could give refiners some hope after the global pandemic boosted distillate inventories and sank margins.

  • BIC MAGAZINE
  • April 7 @ 8:31 am

U.S. natgas output to rise, while demand falls for second year in 2021

EIA projected dry gas production will rise to 91.41 billion cubic feet per day (bcfd) in 2021 and 93.29 bcfd in 2022 from 91.36 bcfd in 2020. That compares with an all-time high of 93.06 bcfd in 2019.

  • BIC MAGAZINE
  • April 7 @ 6:30 am

Inter Pipeline gets $325 million grant from Alberta for petchem plant

The grant will be made under the Alberta Petrochemicals Incentive Program, introduced by the government to attract investment in petrochemical plants in the province.

  • BIC MAGAZINE
  • April 6 @ 8:33 am

Sempra Energy to sell 20% stake in unit to KKR for $3.37 billion

Energy infrastructure company Sempra Energy said it would sell a 20% stake in its new business platform.

  • BIC MAGAZINE
  • April 5 @ 3:57 pm

Pioneer’s $6.4 billion deal for DoublePoint accelerates U.S. shale oil consolidation

U.S. oil producer Pioneer Natural Resources agreed to acquire privately-held rival DoublePoint Energy for about $6.4 billion.

  • BIC MAGAZINE
  • April 2 @ 9:17 am

Graves, Scalise announce Louisiana to receive nearly $110 million in offshore energy revenues

Every single penny of this funding will be invested in our flood control, coastal restoration, and hurricane protection.

  • BIC MAGAZINE
  • April 1 @ 9:31 am

API shows U.S. crude stocks rise, gasoline falls

U.S. crude oil stocks rose and gasoline inventories fell in the most recent week, according to trading sources citing data from industry group the American Petroleum Institute.

  • BIC MAGAZINE
  • March 31 @ 10:00 am

Saudi wants OPEC+ to extend oil cuts into June

Saudi Arabia is prepared to support extending oil cuts by OPEC and its allies into June and is also ready to prolong its own voluntary cuts to boost prices amid a new wave of coronavirus lockdowns.

  • BIC MAGAZINE
  • March 30 @ 12:28 pm

U.S. gasoline demand exceeds 2020 levels

It is possible that gasoline demand could come close to or even surpass pre-pandemic levels at times. But still to be determined are the lasting impacts to work, lifestyle and consumer habits.

  • BIC MAGAZINE
  • March 30 @ 8:45 am

“She’s free”: Traffic in Suez Canal resumes after stranded ship refloated

Shipping traffic through Egypt’s Suez Canal resumed on Monday after a giant container ship which had been blocking the busy waterway for almost a week was refloated.

  • BIC MAGAZINE
  • March 29 @ 9:43 am

For most of 2020, China’s refineries processed more crude oil than U.S. refineries

In April 2020, more crude oil was being refined in China’s refineries than in U.S. refineries for the first month on record, and the trend continued for all remaining months in 2020 except for July and August.

  • BIC MAGAZINE
  • March 29 @ 8:50 am

U.S. drillers add oil & gas rigs for second quarter in a row

U.S. energy firms added oil and natural gas rigs this week, with the total count rising for an eighth month and a second quarter in a row as higher oil prices prompt drillers back to the wellpad.

  • BIC MAGAZINE
  • March 29 @ 8:38 am

Oil falls on hopes that Suez Canal blockage might end soon

Oil fell as a container ship blocking Suez Canal for nearly a week was partially refloated raising hopes the busy waterway would soon be reopened and as fuel demand in Europe stayed weak.

  • BIC MAGAZINE
  • March 29 @ 8:11 am

Biden White House blocks Virgin Islands refinery expansion permit over pollution concerns

The move marks the first big move by President Joe Biden’s EPA against a large industrial facility over considerations of environmental justice, which Biden has said would be a big priority for his administration.

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  • March 26 @ 9:32 am

API backs carbon price

The industry group representing oil and gas companies including Exxon Mobil Corp and Chevron Corp said they support a carbon price as one measure to mitigate climate change risk.

  • BIC MAGAZINE
  • March 26 @ 8:17 am

Oil prices rise on fears Suez blockage may last weeks

Oil prices were up about 2% on Friday, rebounding on concerns it could take weeks to dislodge a giant container ship blocking the Suez Canal, which would squeeze supplies of crude and refined products.

  • BIC MAGAZINE
  • March 26 @ 8:08 am

Is hydrogen the next generation’s fuel of choice?

According to Paul Browning, president and CEO of Mitsubishi Power Americas, Mitsubishi is keenly focused on decarbonizing power generation.

  • BIC MAGAZINE
  • March 25 @ 3:23 pm

Oil prices drop $3 as demand concerns outweigh Suez disruption

Oil prices lost $3 per barrel on Thursday as worries about demand due to new pandemic restrictions in Europe countered supply concerns that had lifted prices a day earlier when a container ship blocked the Suez Canal.

  • BIC MAGAZINE
  • March 25 @ 12:50 pm

Oil producer Ovintiv to sell Eagle Ford assets for $880 million

Debt-ridden Ovintiv Inc said it will sell its Eagle Ford assets in Texas to Validus Energy for $880 million, as the oil and gas producer seeks to shore up its finances following a tumultuous year for the energy industry.

  • BIC MAGAZINE
  • March 25 @ 8:26 am

Massive cargo ship becomes wedged, blocks Suez Canal

Dozens of ships carrying everything from oil to consumer goods have been delayed by the grounding of a vessel in the Suez Canal, and companies may have to re-route cargoes around Africa if the blockage extends beyond 24 hours.

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  • March 24 @ 2:11 pm

Annova LNG discontinues LNG project

The project had proposed building a 6.5 MTPA liquified natural gas (LNG) export facility on the Port of Brownsville.

  • BIC MAGAZINE
  • March 24 @ 11:52 am

Aqueos Corporation completed the acquisition of the MPSV Sea Scout

Ted Roche, President and CEO of Aqueos Corporation, stated “Aqueos is now a Transitional Energy Service Provider with expanded service offerings beyond oil and gas to include offshore wind, civil and military markets.”

  • BIC MAGAZINE
  • March 23 @ 6:30 am

Biden green policies threaten poor’s access to food around the globe

U.S. President Joe Biden’s green fuel push using edible oils is helping drive up vegetable oil prices that are already near record highs, hitting key cost-sensitive consumers in India and Africa and stoking global food inflation fears.

  • BIC MAGAZINE
  • March 22 @ 12:26 pm

Oil steadies on demand recovery hopes despite European lockdowns

Oil prices steadied on Monday after a broad sell-off last week, as new European coronavirus lockdowns dimmed hopes for a quick economic recovery, with market players still broadly confident of a demand rebound later in the year.

  • BIC MAGAZINE
  • March 22 @ 10:03 am

U.S. drillers add most oil & gas rigs in a week since January

U.S. energy firms added the most oil and natural gas rigs in a week since January even as oil prices this week pulled back from a recent 28-month high.

  • BIC MAGAZINE
  • March 22 @ 9:24 am

U.S. LNG exports on track to hit record high in March

The amount of gas flowing to U.S. LNG export plants has averaged 10.5 billion cubic feet per day so far in March, according to Refinitiv.

  • BIC MAGAZINE
  • March 20 @ 9:40 am

Mexico to absorb Pemex debt payments in latest round of help

Pemex said its financial debt stood at $113.2 billion at the end of 2020, despite several capital injections from the government to boost its weak finances.

  • BIC MAGAZINE
  • March 19 @ 8:05 am

BrandSafway announces agreement to acquire National Coating & Lining Company

BrandSafway has signed an agreement to acquire the National Coating & Lining Company, a privately owned business specializing in the restoration and protection of concrete and ferrous metals for the water and wastewater industry,

  • BIC MAGAZINE
  • March 19 @ 7:32 am

Nuclear overtakes coal in electricity generation in 2020

Nuclear-powered generation was relatively steady in the previous decade. Although several nuclear power plants were retired, that decline in capacity was partially offset by uprates at several plants and the addition of Watts Bar Unit 2 in Tennessee.

  • BIC MAGAZINE
  • March 18 @ 9:57 am

Nuclear overtakes goal in electricity generation in 2020

Nuclear-powered generation was relatively steady in the previous decade. Although several nuclear power plants were retired, that decline in capacity was partially offset by uprates at several plants and the addition of Watts Bar Unit 2 in Tennessee.

  • BIC MAGAZINE
  • March 18 @ 9:57 am

Several U.S. states sue Biden administration for revoking permit for Keystone XL pipeline

Texas and several other U.S. states have sued the administration of President Joe Biden over his decision to revoke a key permit for the Keystone XL pipeline.

  • BIC MAGAZINE
  • March 18 @ 9:35 am

French oil giant backs startup recycling CO₂ into animal food

Deep Branch raised 8 million euros to build a pilot plant to turn carbon dioxide into feed for livestock.

  • BIC MAGAZINE
  • March 18 @ 9:33 am

Gasoline demand may never recover from pandemic

Gasoline demand may never recover to pre-pandemic levels, the International Energy Agency (IEA) said on Wednesday, with increased use in developing countries offset by rising fuel efficiency and a switch to electric vehicles in wealthy nations.

  • BIC MAGAZINE
  • March 18 @ 6:00 am

St. Bernard Port, Harbor & Terminal District enters into lease agreement with American Sugar Refining, Inc.

The St. Bernard Port, Harbor & Terminal District recently entered into a long-term lease agreement with one of the parish’s largest companies.

  • BIC MAGAZINE
  • March 17 @ 10:47 am

Recent completions of natural gas pipeline projects increase transportation capacity

From November 2020 through January 2021, approximately 4.4 billion cubic feet per day (Bcf/d) of new natural gas pipeline capacity entered service.

  • BIC MAGAZINE
  • March 17 @ 6:00 am

Oil demand drag takes toll on tankers, U.S. refiners

U.S. refiners are scaling back on hiring ships for longer periods to save on costs in another sign of uncertainty over when global oil demand will return to pre-COVID levels.

  • BIC MAGAZINE
  • March 16 @ 10:42 am

Aggreko to provide a flexible, fast and cost-efficient way of delivering cleaner energy

Aggreko has signed a seven-year contract with Brazilian energy company EVA Energia for a 10 MW renewable power solution using landfill gas.

  • BIC MAGAZINE
  • March 15 @ 4:15 pm

Oil producer Ovintiv nears south Texas asset sale for over $800 million

The sale of its Eagle Ford acreage would mark a milestone for Denver-based Ovintiv, which is on a multi-year debt reduction plan it outlined in February. The plan includes generating about $1 billion from divesting assets.

  • BIC MAGAZINE
  • March 15 @ 2:04 pm

U.S. becomes India’s second biggest oil supplier, Saudi plunges to No. 4

The United States overtook Saudi Arabia as India’s second biggest oil supplier after Iraq last month, as refiners boosted cheaper U.S. crude purchases to record levels to offset OPEC+ supply cuts.

  • BIC MAGAZINE
  • March 15 @ 1:04 pm

Pilot pay-hike request ignores economic concerns

This concerns all industrial ratepayers required to utilize state-commissioned river pilots’ services to move product on the Mississippi River.

  • BIC MAGAZINE
  • March 15 @ 9:31 am

Texas uses natural gas for electricity generation and home heating

In February 2021, an extreme winter weather event affected energy supply and demand in Texas. The cold temperatures that increased demand for electricity and heating in Texas also disrupted energy supply, causing health and safety concerns.

  • BIC MAGAZINE
  • March 12 @ 9:51 am

Sustained higher oil prices to spur U.S. output growth: JP Morgan

Sustained higher oil prices are expected to spur higher U.S. oil output this year, JP Morgan analysts said.

  • BIC MAGAZINE
  • March 12 @ 9:25 am

PennEast expects first phase of $1.2 billion pipeline in service 2022

PennEast Pipeline Co said it still expects to put the first phase of its $1.2 billion natural gas pipeline project in Pennsylvania in service in 2022 and complete the second phase from Pennsylvania to New Jersey in 2024.

  • BIC MAGAZINE
  • March 12 @ 9:06 am

Vine Energy Inc. announces launch of initial public offering

Vine Energy Inc., Plano, Texas, announced that it has launched an initial public offering of 18,750,000 shares of its Class A common stock at an anticipated initial offering price between $16.00 and $19.00 per share.

  • BIC MAGAZINE
  • March 11 @ 12:09 pm

AES technology wins green hydrogen energy storage project

Advanced Electrolyzer System will recover hydrogen from waste syngas sources using excess electricity.

  • BIC MAGAZINE
  • March 11 @ 9:17 am

Texas Governor makes correcting power grid operator’s billing ’emergency’ item

Texas Governor Greg Abbott said he has made correcting “inaccurate excessive charges” billed during the winter freeze by power grid operator Electric Reliability Council of Texas (ERCOT) an emergency matter for the state legislature.

  • BIC MAGAZINE
  • March 11 @ 7:30 am

U.S. senators introduce bipartisan oil and gas leasing reform bill

Two U.S. senators have introduced a bipartisan bill aimed at boosting taxpayer returns from federal oil and gas leasing, the latest in a string of moves in Washington seeking to reform drilling on public lands.

  • BIC MAGAZINE
  • March 10 @ 1:13 pm

Trillium Flow Technologies™ acquires Red Point Alloys BV

Red Point Alloys BV is joining Trillium Flow Technologies.

  • BIC MAGAZINE
  • March 9 @ 7:30 am

McDermott completes minority investment in Lummus Technology

McDermott International, Ltd announced that it has invested in Lummus Technology Holdings I LLC, a holding company of Lummus Technology.

  • BIC MAGAZINE
  • March 8 @ 3:07 pm

Oil slips after hitting pandemic high above $70/bbl after Saudi attack

Oil prices slid on Monday after earlier climbing above $70 a barrel for the first time since the COVID-19 pandemic began after attacks on Saudi Arabian oil facilities.

  • BIC MAGAZINE
  • March 8 @ 2:33 pm

Chevron to acquire Noble Midstream Partners

Chevron Corporation and Noble Midstream Partners, LP announced that they have entered into a definitive agreement for Chevron to acquire all (33.925 million) of the publicly held common units.

  • BIC MAGAZINE
  • March 5 @ 9:09 am

Oil jumps 5% as OPEC+ agrees output rollover for April

Oil rallied about 5% as sources said OPEC and its allies have agreed to keep production unchanged into April.

  • BIC MAGAZINE
  • March 4 @ 12:38 pm

ERCOT CEO fired

Texas’ power grid operator ousted chief executive Bill Magness, as the fallout continues from a deadly blackout last month that left residents without heat, power or water for days.

  • BIC MAGAZINE
  • March 4 @ 8:59 am

The United States installed more wind turbine capacity in 2020 than in any other year

In both 2019 and 2020, project developers in the United States installed more wind power capacity than any other generating technology.

  • BIC MAGAZINE
  • March 3 @ 10:31 am

Baker Hughes and Akastor ASA announce joint venture company

Baker Hughes and Akastor have announced an agreement to create a joint venture company that will bring together Baker Hughes’ Subsea Drilling Systems (SDS) business with Akastor’s wholly owned subsidiary, MHWirth.

  • BIC MAGAZINE
  • March 3 @ 9:53 am

U.S. shale producers’ capital discipline likely to hold in 2021

Capital discipline from shale producers in the United States is likely to hold this year and through the next, but it could be difficult for companies to resist the temptation to grow production volumes beyond that.

  • BIC MAGAZINE
  • March 3 @ 7:30 am

Global oil demand recovery, gas growth ahead, say Aramco, Chevron CEOS

Global oil demand is recovering and could return to around pre-pandemic levels next year.

  • BIC MAGAZINE
  • March 2 @ 11:49 am

Texas power cooperative files for bankruptcy, citing $1.8 billion grid debt

The largest and oldest electric power cooperative in Texas filed for bankruptcy protection in Houston on Monday, citing a disputed $1.8 billion debt to the state’s grid operator.

  • BIC MAGAZINE
  • March 2 @ 7:30 am

U.S. crude output drops to 11.06 million bpd in December

Total U.S. oil demand in December was down 1.49 million bpd, or 7.4%, from a year earlier. Demand for gasoline was down 1.109 million bpd, or 12.4% from a year earlier.

  • BIC MAGAZINE
  • March 1 @ 11:25 am

Electric firm Griddy loses access to Texas grid, customers shifted to rivals

Texas’s grid operator on Friday shut Griddy Energy LLC’s access to the state’s power network for unpaid bills and shifted its 10,000 customers to other utilities, as new signs of a financial crisis rose after a state-wide blackout.

  • BIC MAGAZINE
  • March 1 @ 11:01 am

U.S. drillers add rigs for seventh month in a row, pace slows

U.S. energy firms this week added oil and natural gas rigs for a seventh month in a row for the first time since May 2018, but the rate of growth in February slowed even as oil prices rose to their highest since 2019.

  • BIC MAGAZINE
  • March 1 @ 7:30 am

Republican governors send letter to Biden opposing leasing ban

Seventeen governors implore president to withdraw Executive Order 14008.

  • BIC MAGAZINE
  • February 26 @ 1:04 pm

Port of Corpus Christi, Port of Rotterdam enter into historic agreement

The Port of Corpus Christi and the Port of Rotterdam have entered into a Memorandum of Understanding that will allow the two global entities to collaboratively improve their global maritime operations.

  • BIC MAGAZINE
  • February 26 @ 9:09 am

Global LNG demand expected to almost double by 2040

Global liquefied natural gas (LNG) demand is expected to almost double to 700 million tonnes by 2040, Royal Dutch Shell said in its annual LNG market outlook.

  • BIC MAGAZINE
  • February 26 @ 7:30 am

Senate approves Biden’s pick Granholm to head Energy Department

The U.S. Senate approved President Joe Biden’s nominee, former Michigan governor Jennifer Granholm, on Thursday to serve as secretary of the Department of Energy.

  • BIC MAGAZINE
  • February 25 @ 3:46 pm

Oil rises after data shows slump in U.S. output amid Texas freeze

Oil prices climbed on Wednesday to fresh 13-month highs after U.S. government data showed a drop in crude output after a deep freeze disrupted production last week.

  • BIC MAGAZINE
  • February 24 @ 5:23 pm

Top ERCOT executives resign after storm failure

Top directors of Texas’ electric grid operator, who faced sharp criticism from a massive failure of the state power system that left millions last week without light, heat, and water, resigned on Tuesday.

  • BIC MAGAZINE
  • February 24 @ 8:09 am

Top executives of Texas’ electric grid resign after storm failure

Top directors of Texas’ electric grid operator, who faced sharp criticism from a massive failure of the state power system that left millions last week without light, heat, and water, resigned on Tuesday.

  • BIC MAGAZINE
  • February 24 @ 8:09 am

Kinder Morgan and Brookfield Infrastructure announce minority interest sale in Natural Gas Pipeline Company of Amer

Kinder Morgan, Inc. and Brookfield Infrastructure Partners L.P. jointly announced that they have agreed to sell a 25% minority interest in Natural Gas Pipeline Company of America LLC.

  • BIC MAGAZINE
  • February 24 @ 7:00 am

Sempra LNG wants to build a new salt dome facility in Louisiana

Sempra LNG’s LA Storage has asked the Federal Energy Regulatory Commission for permission to build a new salt dome facility in Louisiana.

  • BIC MAGAZINE
  • February 23 @ 10:02 am

Just Energy says Texas customers protected from storm-related price surge

Just Energy Group Inc said on Tuesday its storm-battered residential customers in Texas will be protected from higher energy rates for February, a day after the Canadian company raised doubts about its ability to continue as a going concern.

  • BIC MAGAZINE
  • February 23 @ 9:49 am

Mexican government gives Pemex $3.5 billion fiscal support

Mexico’s government has granted new fiscal support to Petroleos Mexicanos (Pemex) worth 73.28 billion pesos ($3.54 billion), to help shore up the state oil firm’s finances and crude output.

  • BIC MAGAZINE
  • February 23 @ 9:33 am

Shale producers see deep freeze hitting thousands of barrels of output

Occidental Petroleum Corp, Diamondback Energy Inc and a host of smaller Permian-focused U.S. shale producers said on Monday their first-quarter oil output will be hit by a recent winter storm that knocked out power to millions in Texas.

  • BIC MAGAZINE
  • February 23 @ 8:00 am

Texas utilities can’t stick customers with huge bills after storm: Abbott

Texas utility regulators will temporarily ban power companies from billing customers or disconnecting them for non-payment, after the deadly winter storm that caused widespread blackouts.

  • BIC MAGAZINE
  • February 22 @ 12:28 pm

Offshore wind staff demand to triple by 2030, hundreds of thousands needed

The Covid-19 downturn has once again caused employment rates to plummet in the oil and gas industry. Even though some uptick is expected when the recovery arrives, employment will never return to the glories of just a few years ago.

  • BIC MAGAZINE
  • February 22 @ 9:54 am

Traders rush to supply fuel to the U.S. as Texas freeze bites

Massive refining outages in the U.S. state of Texas due to freezing weather has led to a flurry of fuel tanker bookings from Europe, while several carriers were diverting away from the U.S. Gulf Coast, traders and analysts said.

  • BIC MAGAZINE
  • February 22 @ 9:18 am

Winter storm Uri has impacted nearly 6.0 million barrels per day of refining capacity in the United States

IHS Markit currently estimates more than 5.2 million barrels per day (b/d) of Gulf Coast capacity and 730,000 b/d in PADD 2 has been impacted by the winter weather.

  • BIC MAGAZINE
  • February 20 @ 8:30 am

Baker Hughes signs agreement to acquire ARMS Reliability

Baker Hughes is acquiring ARMS Reliability, a leading global provider of reliability solutions to some of the world’s largest industrial companies across a wide range of industries including mining, oil and gas, power, manufacturing, and utilities.

  • BIC MAGAZINE
  • February 19 @ 6:06 am

U.S. Senate energy panel intends hearing on power grid in wake of Texas freeze

The U.S. Senate energy committee intends to hold a hearing to examine power grid reliability in the wake of the Texas freeze that left millions without power.

  • BIC MAGAZINE
  • February 19 @ 5:56 am

Chevron Corp and ConocoPhillips have begun restoring shale output

Chevron Corp and ConocoPhillips have begun restoring shale output, and Chevron will prioritize natural gas production.

  • BIC MAGAZINE
  • February 19 @ 5:45 am

Texas governor asks legislature to mandate winterization of generators

Texas Governor Greg Abbott said he has asked the state legislature to mandate the winterization of generators.

  • BIC MAGAZINE
  • February 19 @ 5:00 am

Brent gives up gains after rising above $65 on Texas freeze

Oil prices steadied on Thursday, with Brent edging back from a 13-month high, after a sharp drop in U.S. crude inventories supported prices, while buying spurred by a cold snap in the largest U.S. energy-producing state petered out.

  • BIC MAGAZINE
  • February 18 @ 1:53 pm

Texas power consumers to pay the price of winter storm

Texas residents suffering a winter storm that has left millions without power are set to face a future challenge in higher utility bills, after the days-long cold snap put an unprecedented strain on the state’s power network.

  • BIC MAGAZINE
  • February 18 @ 11:15 am

Mexico presses U.S. to guarantee natural gas supplies after Texas export ban

The Mexican government called the top U.S. representative in Mexico on Wednesday to press for natural gas supplies after the Texas governor ordered fuel to remain in the state during a freeze that has overwhelmed its energy grid.

  • BIC MAGAZINE
  • February 18 @ 8:43 am

Howard Energy closes on acquisition of refinery services facility in Corpus Christi

Howard Energy Partners has closed on its previously announced agreement with a subsidiary of MPLX LP to purchase the Javelina Facility, located in Corpus Christi, Texas.

  • BIC MAGAZINE
  • February 18 @ 8:36 am

Energy Transfer to acquire Enable Midstream

Energy Transfer LP and Enable Midstream Partners, announced that they have entered into a definitive merger agreement whereby Energy Transfer will acquire Enable in an all-equity transaction valued at approximately $7.2 billion.

  • BIC MAGAZINE
  • February 17 @ 10:24 am

Emergency weather related state updates from Gov. Abbott

Governor Greg Abbott is calling for all industrial electricity customers to curtail power consumption to the lowest possible level or shut down if at all possible, unless you are transporting gas or exporting power.

  • BIC MAGAZINE
  • February 16 @ 12:05 pm

Flint Hills Resources and Encina announce non-binding term sheet for renewables

Encina Development Group is pleased to announce the signing of a non-binding term sheet with Flint Hills Resources to produce renewable chemicals and renewable fuels from waste plastic.

  • BIC MAGAZINE
  • February 16 @ 11:42 am

Texas wholesale electric prices spike more than 10,000% amid outages

The spot price of wholesale electricity on the Texas power grid spiked more than 10,000% on Monday amid a deep freeze across the state and rolling outages among power producers, according to data on the grid operator’s website.

  • BIC MAGAZINE
  • February 15 @ 12:33 pm

Some areas experience outages as Texas power grid enters third emergency alert stage

Texas power grid managers have declared an emergency after record-breaking energy use strained utilities beyond capacity thanks to the winter weather event.

  • BIC MAGAZINE
  • February 15 @ 10:16 am

BASF commitment with wind and solar power contracts

BASF is collaborating with EDF Energy North America to improve the energy balance and reduce CO2 emissions of two of its production sites in Texas.

  • BIC MAGAZINE
  • February 15 @ 7:45 am

Oil rises on fears of heightened tensions in Middle East

Oil prices rose to their highest in more than a year on Monday, after a Saudi-led coalition fighting in Yemen said it intercepted an explosive-laden drone fired by the Iran-aligned Houthi group, raising fears of fresh Middle East tensions.

  • BIC MAGAZINE
  • February 15 @ 7:00 am

Texas Railroad Commission issues emergency order

Texas Railroad Commission considered and approved an emergency order to adjust the curtailment priority distribution list of natural gas.

  • BIC MAGAZINE
  • February 13 @ 10:53 am

BREAKING NEWS: Texas Railroad Commission issues emergency order

Texas Railroad Commission considered and approved an emergency order to adjust the curtailment priority distribution list of natural gas.

  • BIC MAGAZINE
  • February 13 @ 10:53 am

Exxon to close refinery

Exxon Mobil Corp said it will close a refinery and convert it to a fuel import terminal as refiners struggle with low demand.

  • BIC MAGAZINE
  • February 12 @ 8:59 am

U.S. and Canadian natural gas prices soar during Arctic blast

Natural gas prices across North America soared to their highest in years on Thursday as freezing wells cut output and homes and businesses crank up their heaters to escape the arctic blast moving from Canada to the eastern half of the United States.

  • BIC MAGAZINE
  • February 11 @ 1:38 pm

OPEC again cuts 2021 oil demand view, sees second half pickup

World oil demand in 2021 will rebound more slowly than previously thought, OPEC said on Thursday, adding to a series of downgrades as the impact of the pandemic lingers.

  • BIC MAGAZINE
  • February 11 @ 11:46 am

U.S. power use to rise in 2021 as governments ease lockdowns

U.S. power consumption will rise 1.6% this year as state and local governments ease coronavirus lockdowns, the U.S. Energy Information Administration (EIA) said on Tuesday in its Short Term Energy Outlook (STEO).

  • BIC MAGAZINE
  • February 11 @ 8:00 am

Equinor sells U.S. Bakken shale assets

Norway’s Equinor has agreed to sell its assets in the U.S. Bakken shale oil province after a decade of multibillion-dollar losses and criticism for poor investment decisions.

  • BIC MAGAZINE
  • February 10 @ 2:57 pm

Chesapeake Energy emerges from bankruptcy and shifts back to natural gas

U.S. shale producer Chesapeake Energy Corp exited Chapter 11 bankruptcy with business plan that nods to its founders’ emphasis on natural gas after a recent push into crude oil.

  • BIC MAGAZINE
  • February 10 @ 9:29 am

Senator Manchin urges Biden to reverse opposition to Keystone XL pipeline

The head of the U.S. Senate energy committee, Joe Manchin, on Tuesday urged President Joe Biden to reverse his opposition to the Keystone XL pipeline, saying the project provides union jobs and is safer than transporting the oil via trucks and trains

  • BIC MAGAZINE
  • February 10 @ 8:00 am

Clean energy future requires nuclear, electric and natural gas

According to Amy Andryszak, CEO and president of the Interstate Natural Gas Association of America (INGAA), her organization, as is the natural gas industry as a whole, is “committed to building a cleaner energy future.”

  • BIC MAGAZINE
  • February 9 @ 4:14 pm

LyondellBasell collaborates on first paving project using recycled plastic

Both LyondellBasell and Plastics Industry Association have goals to bring solutions to global challenges, such as helping eliminate and reducing plastic waste.

  • BIC MAGAZINE
  • February 9 @ 10:22 am

Court order delays construction at ConocoPhillips’ Alaska project

A weekend court ruling has temporarily blocked winter construction at a huge ConocoPhillips oil project on Alaska’s North Slope.

  • BIC MAGAZINE
  • February 9 @ 9:40 am

Northern Oil and Gas announces transformational acquisition projects

Northern Oil and Gas, Inc. announced that it has entered into a definitive agreement to acquire certain non-operated assets in the Appalachian Basin from the Seller. The Seller is a subsidiary of Reliance Industries, Ltd.

  • BIC MAGAZINE
  • February 9 @ 7:45 am

O’Brien Energy Resources purchases Midwest Production

O’Brien Energy Resources Corp., a privately owned oil and natural gas exploration company, has announced the purchase of assets of two competitive oil and gas companies in Kansas and Oklahoma.

  • BIC MAGAZINE
  • February 9 @ 7:10 am

Hedge funds bet on oil’s ‘big comeback’ after pandemic hobbles producers

Hedge funds are turning bullish on oil once again, betting the pandemic and investors’ environmental focus has severely damaged companies’ ability to ramp up production.

  • BIC MAGAZINE
  • February 8 @ 11:51 am

Noble Midstream receives non-binding Chevron offer to acquire outstanding LP units

Noble Midstream Partners LP announced the Partnership has received a non-binding proposal from Chevron Corporation.

  • BIC MAGAZINE
  • February 8 @ 11:35 am

U.S. drillers add oil and gas rigs for 11th week in a row

U.S. drillers this week added oil and natural gas rigs for an 11th week in a row for the first time since June 2017 as crude prices hit pre-pandemic highs.

  • BIC MAGAZINE
  • February 8 @ 11:27 am

Reliance’s unit to sell Marcellus shale assets for $250 million

Reliance Industries Ltd said on Thursday its unit will sell its interest in certain upstream assets in the Marcellus shale in the United States for $250 million in cash to Northern Oil and Gas Inc.

  • BIC MAGAZINE
  • February 5 @ 2:50 pm

Chevron offers to take pipeline operator Noble Midstream private

Chevron Corp said it has offered to buy Noble Midstream Partners LP in a deal valuing the company at $1.13 billion, months after the U.S. oil major bought the pipeline operator’s sponsor Noble Energy.

  • BIC MAGAZINE
  • February 5 @ 7:48 am

Appalachia gas producer Alta Resources exploring $3 billion sale

Privately-owned Appalachian gas producer Alta Resources is exploring options that include a sale of its acreage for more than $3 billion.

  • BIC MAGAZINE
  • February 5 @ 6:26 am

U.S. crude hits one-year highs after U.S. stock drawdown

Oil prices rose almost 2% on Wednesday, with U.S. crude reaching its highest settlement level in a year after stockpiles fell to their lowest levels since March.

  • BIC MAGAZINE
  • February 4 @ 12:38 pm

U.S. Supreme Court to hear pipeline company’s bid to seize New Jersey land

The U.S. Supreme Court on Wednesday agreed to hear a bid by a consortium of energy companies seeking to seize land owned by the state of New Jersey to build a $1 billion natural gas pipeline.

  • BIC MAGAZINE
  • February 4 @ 12:25 pm

U.S. Senate energy committee votes to approve Granholm to head Energy Department

The U.S. Senate Energy Committee voted 13-4 on Wednesday to approve the nomination of former Michigan Governor Jennifer Granholm to head the Energy Department.

  • BIC MAGAZINE
  • February 4 @ 10:42 am

Exclusive: Industry leaders react to proposed federal lands restrictions

Stephen Waguespack, president and CEO of the Louisiana Association of Business and Industry, a prohibitive ban on the U.S.’s federal lands will not deter global demand for energy.

  • BIC MAGAZINE
  • February 3 @ 10:12 am

NRG Energy named Supplier of the Year by TEPA

NRG Energy, Inc. announced that the Company has been named the 2020–2021 Supplier of the Year by The Energy Professionals Association.

  • BIC MAGAZINE
  • February 3 @ 9:36 am

Superior Drilling Products, Inc. announces NYSE American accepts continued listing compliance plan

Superior Drilling Products, Inc., a designer and manufacturer of drilling tool technologies, today announced that NYSE American has accepted the Company’s plan of compliance for continued listing on the exchange.

  • BIC MAGAZINE
  • February 3 @ 9:27 am

Valero’s joint venture receives approval to begin construction in Port Arthur Texas

Darling and Valero jointly announce that their 50/50 joint venture, Diamond Green Diesel, has received approval from both companies’ Boards of Directors to proceed with the construction of the renewable diesel production facility.

  • BIC MAGAZINE
  • February 2 @ 7:00 am

U.S. oil and natgas pipelines delayed by legal and regulatory battles

There are numerous large U.S. and Canadian oil and natural gas pipelines in progress, but many have been delayed in recent years due to legal and regulatory battles, while others have been scuttled as costs rose.

  • BIC MAGAZINE
  • February 1 @ 9:58 am

Exxon and Chevron talked merger in 2020

The chief executives of American oil companies ExxonMobil and Chevron held preliminary talks in early 2020.

  • BIC MAGAZINE
  • February 1 @ 9:10 am

Oil prices rangebound as supply cuts offset virus worries

Oil prices edged up on Friday but traded in a tight range as demand concerns caused by new coronavirus variants and slow vaccine rollouts offset a cut in Saudi Arabian oil supply and falling U.S. oil inventories.

  • BIC MAGAZINE
  • January 29 @ 9:50 am

U.S. wind energy production tax credit extended through 2021

The timing and magnitude of wind turbine installations in the United States are often driven by tax incentives.

  • BIC MAGAZINE
  • January 29 @ 8:00 am

Biden to target drilling, fossil fuel subsidies in new climate orders

Biden’s focus on climate change has cheered international partners and environmental advocates, but upset Big Oil, which has been arguing the moves will cost the United States millions of jobs and billions of dollars in revenue.

  • BIC MAGAZINE
  • January 27 @ 2:11 pm

BP’s oil exploration team swept aside in climate revolution

Nothing escapes the winds of change now sweeping through BP, not even the exploration team that for more than a century powered its profits by discovering billions of barrels of oil.

  • BIC MAGAZINE
  • January 27 @ 8:00 am

Mountain Valley Pipeline receives FERC permit

Mountain Valley Pipeline LLC has received FERC permission to resume construction of its 303- mile, 2-bcfd natural gas pipeline through West Virginia and Virginia.

  • BIC MAGAZINE
  • January 26 @ 11:27 am

Total withdraws from the American Petroleum Institute

Following a detailed analysis of the climate positions of the American Petroleum Institute (API), Total announces its decision not to renew its membership for 2021.

  • BIC MAGAZINE
  • January 26 @ 9:52 am

EIA expects gasoline and diesel prices to increase as U.S. economy recovers

National average motor gasoline and diesel prices in 2020 were the lowest since 2016: $2.17 per gallon (gal) for gasoline and $2.55/gal for diesel, according to the U.S. Energy Information Administration’s (EIA) Gasoline and Diesel Fuel Update.

  • BIC MAGAZINE
  • January 25 @ 1:04 pm

EIA expects crude oil prices to average near $50 per barrel through 2022

EIA expects that growth in crude oil production from members of the Organization of the Petroleum Exporting Countries (OPEC) and partner countries (OPEC+) will be limited because of a multilateral agreement to limit production.

  • BIC MAGAZINE
  • January 22 @ 2:44 pm

Magellan and Enterprise to develop Joint Houston crude oil futures contract

The quality specifications will be consistent with a West Texas Intermediate (“WTI”) crude oil originating from the Permian Basin with delivery capabilities at either Magellan’s East Houston terminal or Enterprise’s ECHO terminal in Houston.

  • BIC MAGAZINE
  • January 22 @ 1:09 pm

Biden set to continue climate orders targeting energy industry

U.S. President Joe Biden will announce a second round of executive orders focused on combating climate change early next week as he rushes to reverse Trump-era environmental rollbacks.

  • BIC MAGAZINE
  • January 22 @ 11:48 am

Schlumberger echoes rivals’ oil recovery predictions after results beat

Schlumberger NV on Friday joined rivals in predicting a steady recovery in the oil industry this year after the world’s top oilfield services provider’s fourth-quarter results beat estimates, aided partly by growing drilling demand.

  • BIC MAGAZINE
  • January 22 @ 11:02 am

Kinder Morgan beats estimates, flags concerns on spending by shale producers

Pipeline operator Kinder Morgan Inc on Wednesday raised concerns over the pace of ramp-up in spending in top U.S. shale basins following a rebound in oil prices after beating Wall Street estimates for quarterly results.

  • BIC MAGAZINE
  • January 21 @ 12:50 pm

TC Energy to cut 1,000 construction jobs, halt Keystone XL work

TC Energy Corp will eliminate more than 1,000 construction jobs in coming weeks and halt work on the Keystone XL oil pipeline after U.S. President Joe Biden revoked the project’s presidential permit, the company said in an email to employees.

  • BIC MAGAZINE
  • January 21 @ 10:35 am

White House says Biden still committed to ending new oil and gas leasing on federal lands

U.S. President Joe Biden is still committed to ending new oil and gas leasing on federal lands, White House Press Secretary Jen Psaki

  • BIC MAGAZINE
  • January 21 @ 9:56 am

API statement on Biden administration’s energy and climate executive orders

American Petroleum Institute (API) President and CEO Mike Sommers issued the following statement in response to President Biden’s executive actions on climate and energy issues.

  • BIC MAGAZINE
  • January 21 @ 9:43 am

U.S. EPA grants three biofuel waivers to refiners before Trump leaves office

The U.S. Environmental Protection Agency (EPA) on Tuesday granted three waivers to oil refiners that exempt them from U.S. biofuel blending obligations.

  • BIC MAGAZINE
  • January 20 @ 1:48 pm

Port of Houston awarded new start for Ship Channel

The Houston Ship Channel port complex and its public and private terminals, collectively known as the Port of Houston, is now the number one port in the United States in terms of total waterborne tonnage.

  • BIC MAGAZINE
  • January 20 @ 9:53 am

Exploration success in the U.S. Gulf of Mexico

Kosmos Energy announced an oil discovery in the U.S. Gulf of Mexico at the Winterfell infrastructure-led exploration well.

  • BIC MAGAZINE
  • January 20 @ 9:48 am

Tellurian aims for Louisiana LNG construction start this summer

The co-founder of U.S. LNG developer Tellurian said Thursday that the company is targeting this summer to begin construction of its $16.8 billion Driftwood LNG export project in Louisiana.

  • BIC MAGAZINE
  • January 20 @ 9:32 am

Oil gains on stimulus optimism ahead of Biden inauguration

Oil prices climbed with U.S. stock markets on Tuesday ahead of Joe Biden’s inauguration as U.S. president on optimism that more government stimulus will eventually lift global economic growth.

  • BIC MAGAZINE
  • January 19 @ 5:03 pm

Refcomm® Galveston 2021 takes place May 10-14 as a virtual event

The 23rd annual Refcomm® Galveston will take place May 10 – 14, 2021 as a 100% virtual and on-demand event.

  • BIC MAGAZINE
  • January 19 @ 4:03 pm

Halliburton points to oil industry recovery after profit beat

Halliburton Co on Tuesday predicted a recovery in the global oil and gas industry from the second quarter after the oilfield services provider beat profit estimates on cost cuts and modest gains in activity following last year’s slump.

  • BIC MAGAZINE
  • January 19 @ 3:53 pm

Keystone XL looks for ways avoid Biden’s axe

U.S. President-elect Joe Biden’s expected move to cancel the Keystone XL pipeline prompted Canada’s main oil-producing province of Alberta on Monday to threaten to seek damages as Ottawa made efforts to save the troubled project.

  • BIC MAGAZINE
  • January 19 @ 9:36 am

Biden may cancel Keystone XL pipeline permit as soon as his first day in office

U.S. President-elect Joe Biden is planning to cancel the permit for the $9 billion Keystone XL pipeline project as one of his first acts in office, and perhaps as soon as his first day, according to a source familiar with his thinking.

  • BIC MAGAZINE
  • January 18 @ 12:15 pm

Oil falls on coronavirus fears, strong dollar

Oil prices fell on Monday as a stronger dollar, fears over soaring COVID-19 cases around the world and the slow pace of vaccination against the virus outweighed a better-than-expected quarterly rebound for China’s economy.

  • BIC MAGAZINE
  • January 18 @ 11:33 am

U.S. natural gas production will likely fall in 2021 and rise in 2022

In its January Short-Term Energy Outlook (STEO), EIA estimates that annual U.S. marketed gas production for 2021 will fall 2% and average 96.2 billion cubic feet per day (Bcf/d).

  • BIC MAGAZINE
  • January 15 @ 10:32 am

8 arrested in Minnesota protest over Line 3 pipeline project

Eight people were arrested in a protest to oppose construction of the Enbridge Energy Line 3 oil pipeline replacement in northern Minnesota.

  • BIC MAGAZINE
  • January 14 @ 1:17 pm

WoodMac: Future of gas in energy transition to be defined in 2021

Wood Mackenzie vice president Massimo Di Odoardo said: “Policy makers will need to provide clarity on decarbonisation plans, including how they see the role of natural gas, following pledges to achieve climate neutrality.

  • BIC MAGAZINE
  • January 14 @ 12:33 pm

U.S. oil and natural gas production to fall in 2021, then rise in 2022

In its January 2020 Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts that annual U.S. crude oil production will average 11.1 million b/d in 2021.

  • BIC MAGAZINE
  • January 14 @ 11:40 am

Chesapeake Energy to emerge from bankruptcy court as a $5.13B enterprise

Chesapeake Energy’s Chapter 11 bankruptcy plan was approved by a U.S. judge on Wednesday, giving lenders control of the firm and ending a contentious trial.

  • BIC MAGAZINE
  • January 14 @ 10:08 am

Equinor selected for largest-ever US offshore wind award

Equinor was selected to provide New York State with offshore wind power in one of the largest renewable energy procurements in the U.S. to date.

  • BIC MAGAZINE
  • January 14 @ 9:30 am

EIA expects higher wholesale U.S. natural gas prices in 2021 and 2022

EIA expects higher natural gas prices will prompt dry natural gas production to increase in the second half of 2021, after reaching a monthly low of 87.3 billion cubic feet per day (Bcf/d) in March 2021.

  • BIC MAGAZINE
  • January 14 @ 9:00 am

Are we going to see regulations return?

It is likely that the deregulatory agenda pushed by the Trump administration will be replaced with a re-regulatory agenda under a Biden administration.

  • BIC MAGAZINE
  • January 13 @ 1:45 pm

EPA reduces regulatory burden, emissions from large storage tanks

Today, the U.S. Environmental Protection Agency (EPA) expanded the availability of a proven, modern inspection method for finding and correcting air pollution leaks at large liquid storage tanks.

  • BIC MAGAZINE
  • January 13 @ 12:39 pm

Chevron makes bet on being last man standing

Chevron Chief Executive Mike Wirth is doubling down on oil. The boss of the $180 billion U.S. fossil fuel firm told Reuters on Tuesday that he was a fan of the 2015 Paris Agreement to cut carbon emissions.

  • BIC MAGAZINE
  • January 13 @ 12:22 pm

J.P. Morgan upgrades Exxon to overweight for first time in seven years

J.P. Morgan analysts on Wednesday raised their rating on shares of Exxon Mobil to overweight, its first outright “buy” recommendation for the oil major in seven years, saying cuts in capital spending had put it on track for a stronger performance.

  • BIC MAGAZINE
  • January 13 @ 11:50 am

IEA says oil market outlook clouded by vaccine roll-out variables

Oil producers face an unprecedented challenge to balance supply and demand as factors including the pace and response to COVID-19 vaccines cloud the outlook.

  • BIC MAGAZINE
  • January 13 @ 11:23 am

U.S. petroleum stocks nearing normal after wild 2020

U.S. petroleum inventories ended last year approaching normal levels, as excess crude and product stocks accumulated during the Saudi-Russian volume war and coronavirus lockdowns were absorbed successfully.

  • BIC MAGAZINE
  • January 12 @ 12:15 pm

TXOGA: The O&G industry paid $13.9B in state, local taxes and state royalties

The Texas oil and natural gas industry contributed to state and local tax coffers in the fiscal year 2020.

  • BIC MAGAZINE
  • January 12 @ 10:55 am

Norway eyes sea change in deep dive for metals instead of oil

Norway’s oil and gas reserves have made it one of the world’s wealthiest countries but its dreams for deep-sea discovery now center on something different.

  • BIC MAGAZINE
  • January 12 @ 10:09 am

Renewables account for most new U.S. electricity generating capacity in 2021

According to the U.S. Energy Information Administration’s (EIA) latest inventory of electricity generators, developers and power plant owners plan for 39.7 gigawatts (GW) of new electricity generating capacity to start commercial operation in 2021.

  • BIC MAGAZINE
  • January 11 @ 11:43 am

Shale gas pioneer Chesapeake Energy worth $5.13 billion on bankruptcy exit

Chesapeake Energy Corp.’s value has soared since its June bankruptcy filing.

  • BIC MAGAZINE
  • January 11 @ 11:34 am

Data Gumbo named “Disruptive Innovator” by Forbes

The Houston-based startup Data Gumbo has been named the “Disruptive Innovator” by the editors of Forbes in the inaugural Forbes Energy Awards, posted on Forbes.com in December 2020.

  • BIC MAGAZINE
  • January 8 @ 3:16 pm

U.S. average gasoline prices and vehicle travel fell to multiyear lows in 2020

U.S. regular retail gasoline prices averaged $2.17 per gallon (gal) in 2020, 44 cents/gal (17%) lower than in 2019 and the lowest annual average since 2016.

  • BIC MAGAZINE
  • January 7 @ 9:30 am

TC Energy launches binding open season for the Keystone Pipeline System

TC Energy Corporation (TC Energy) today launched an open season to solicit binding commitments for crude oil transportation services on the Keystone Pipeline System from Hardisty, Alberta to Patoka, Illinois.

  • BIC MAGAZINE
  • January 7 @ 9:00 am

Qatargas awards offshore engineering contract to McDermott

McDermott International, Ltd today announced it has been awarded a contract from Qatargas to deliver front-end engineering and design (FEED) work for Qatar Petroleum’s North Field South (NFS) project.

  • BIC MAGAZINE
  • January 6 @ 6:30 pm

Oil extends gains after surprise Saudi output cut

Oil prices extended gains on Wednesday, rising to their highest since late February after Saudi Arabia announced a big voluntary production cut.

  • BIC MAGAZINE
  • January 6 @ 11:08 am

Ethanol output at Cedar Rapids facility suspended

Ingredion Inc. has stopped ethanol production at its manufacturing facility in Cedar Rapids, Iowa.

  • BIC MAGAZINE
  • January 6 @ 10:44 am

Trump administration readies oil bidding in Alaska wildlife refuge

The Trump administration on Wednesday will open bidding on drilling leases in a pristine Arctic wildlife refuge in Alaska despite tepid interest from the oil and gas industry.

  • BIC MAGAZINE
  • January 6 @ 10:30 am

U.S. renewable fuel credits climb to 3-yr high as EPA misses deadline

U.S. renewable fuel credits rose on Monday to a three-year high, traders said, after the Trump administration failed for the second time to meet a deadline to propose rules on the amount of biofuels refiners must blend into their fuel mix this year.

  • BIC MAGAZINE
  • January 5 @ 10:01 am

Last-minute White House decision opens more Arctic land to oil leasing

U.S. President Donald Trump’s administration announced on Monday that it has made final its plan to open up vast areas of once-protected Arctic Alaska territory to oil development.

  • BIC MAGAZINE
  • January 5 @ 9:54 am

Oil prices rise on OPEC output talks, Iran tension

Oil prices rose as tension simmered following Iran’s seizure of a South Korean vessel and as the OPEC+ group of producers were divided over February output levels.

  • BIC MAGAZINE
  • January 5 @ 9:51 am

Port NOLA exploring container terminal in St. Bernard Parish

The Port of New Orleans intends to acquire property in Violet in St. Bernard Parish and begin a two-year due diligence process.

  • BIC MAGAZINE
  • January 5 @ 9:13 am

Mozambique’s jihadists force Total to suspend gas project

Mozambique’s jihadist violence has forced the French energy firm Total to suspend work at its multibillion-dollar liquefied natural gas project in the country’s northern Cabo Delgado province.

  • BIC MAGAZINE
  • January 5 @ 8:00 am

GlobalData: North American petrochemical producers might see long-term cost advantage by reducing capex for 2020

The shale gas advantage of North American petrochemical majors provides a boost for investments in the region, primarily in the US.

  • BIC MAGAZINE
  • January 4 @ 3:29 pm

Würth Action Bolt and Tool joins Würth Industry North America’s new construction division

Würth Industry North America (WINA) announced that Würth Action Bolt and Tool will join their new construction services division, Würth Construction Services.

  • BIC MAGAZINE
  • January 4 @ 11:28 am

Kinder Morgan begins commercial in-service of Permian Highway Pipeline

The pipeline has been flowing volumes during the commissioning process for several weeks prior to full commercial in-service.

  • BIC MAGAZINE
  • January 4 @ 10:11 am

Buckeye completes marine terminal for oil exports at Corpus Christi

Pipeline and terminal operator Buckeye Partners announced Wednesday that it has begun crude oil exports at the second dock at its South Texas Gateway.

  • BIC MAGAZINE
  • January 4 @ 10:03 am

Howard Energy Partners to Acquire Refinery Services Facility in Corpus Christi

Howard Energy Partners (HEP) announced that it has executed an agreement with a subsidiary of MPLX LP to purchase the Javelina Facility (Javelina) located in Corpus Christi, Texas.

  • BIC MAGAZINE
  • December 30 @ 12:21 pm

Gulf Coast could see over $300 billion in new investments

When it comes to the petrochemical industry and refining, the outlook for energy manufacturing (as well as LNG exports) is tied to the global economy.

  • BIC MAGAZINE
  • December 29 @ 9:20 am

Layoffs at shuttered Shell Convent, Louisiana, refinery to begin in late Feb

Dwindling numbers of workers will remain at the refinery into the third quarter of 2021.

  • BIC MAGAZINE
  • December 29 @ 6:00 am

Houston Ship Channel expansion authorized by Congress

Congress passed the 2020 Water Resources Development Act. The bill formally authorized the expansion of the Houston Ship Channel, which was recently ranked the #1 U.S. Port in total waterborne tonnage.

  • BIC MAGAZINE
  • December 23 @ 9:20 am

Citgo Corpus Christi, Texas, refinery postpones 2021 maintenance

Citgo Petroleum Corp. is postponing planned maintenance scheduled for 2021 at its 167,500 barrel-per-day (bpd) Corpus Christi, Texas, refinery.

  • BIC MAGAZINE
  • December 21 @ 12:00 pm

Oil tumbles as new virus strain revives demand fears

Oil prices tumbled on Monday as a fast-spreading new coronavirus strain that has shut down much of Britain and led to tighter restrictions in Europe sparked worries about a slower recovery in fuel demand.

  • BIC MAGAZINE
  • December 21 @ 11:37 am

BASF reaches agreement to sell site in Kankakee, Illinois to One Rock Capital Partners

BASF acquired the site and its businesses from Cognis in 2010. It is operated by the Nutrition & Health and the Care Chemicals divisions of BASF.

  • BIC MAGAZINE
  • December 18 @ 9:30 am

bp acquires majority stake in largest US forest carbon offset developer Finite Carbon

bp has acquired a majority stake in carbon offset developer Finite Carbon, building on its existing interest in the company. Finite Carbon is the largest developer of forest carbon offsets in the US.

  • BIC MAGAZINE
  • December 17 @ 9:50 am

Bluewater Texas Terminals receives Port of Corpus Christi approval for deepwater crude oil export project

The Port of Corpus Christi Authority Commission approved a lease agreement and related pipeline easement for the Bluewater Texas Terminals, LLC offshore deepwater port project.

  • BIC MAGAZINE
  • December 17 @ 9:00 am

Bluewater Texas Terminals receives approval for deepwater crude oil export project

The Port of Corpus Christi Authority Commission approved a lease agreement and related pipeline easement for the Bluewater Texas Terminals, LLC (BWTX) offshore deepwater port project.

  • BIC MAGAZINE
  • December 17 @ 9:00 am

EIA: U.S. liquefied natural gas exports set a record in November

During the summer of 2020, monthly exports of liquefied natural gas (LNG) from the United States were the lowest in 26 months but have since increased.

  • BIC MAGAZINE
  • December 17 @ 8:30 am

Rystad Energy: Bankruptcy-hit U.S. operators set to lose a quarter of oil production in 2021

Operated oil production from the recent Chapter 11 filings is heavily weighted in the Eagle Ford and Bakken regions, at almost 400,000 bpd.

  • BIC MAGAZINE
  • December 17 @ 8:15 am

U.S. shale oil output to drop in January

U.S. oil output from shale formations is expected to decline by about 136,000 barrels per day (bpd) in January to 7.44 million bpd, the lowest since June.

  • BIC MAGAZINE
  • December 16 @ 12:17 pm

U.S. shale oil output to drop in Jan.

U.S. oil output from shale formations is expected to decline by about 136,000 barrels per day (bpd) in January to 7.44 million bpd, the lowest since June.

  • BIC MAGAZINE
  • December 16 @ 12:17 pm

Ban on federal drilling leases would cost billions

A ban on new oil and gas drilling leases on federal lands would cost eight western states $8.1 billion in tax revenue and $34.1 billion in investment in the next five years.

  • BIC MAGAZINE
  • December 16 @ 11:19 am

Oil hovers around $50/bl on vaccine optimism

Oil prices edged lower on Wednesday after a surprise gain in U.S. crude inventories and tighter coronavirus lockdowns in Europe but a weakening dollar and progress on the rollout of COVID-19 vaccines.

  • BIC MAGAZINE
  • December 16 @ 11:14 am

EPA aims for December for 2021 biofuel volume proposal

The U.S. Environmental Protection Agency is now aiming for Dec. 31 as the point by which it will propose rules on the amount of biofuels refiners must blend into their fuel mix next year.

  • BIC MAGAZINE
  • December 15 @ 9:35 am

Caribbean refinery sells first product after yearlong delay

Caribbean refinery Limetree Bay Ventures sold the first oil product to a buyer in the Gulf Coast on Monday.

  • BIC MAGAZINE
  • December 15 @ 9:29 am

Jet fuel prices take flight as vaccine roll-outs spur hopes of more air travel

Global jet fuel markets are coming back to life, resuscitated by a rebound in air cargo demand.

  • BIC MAGAZINE
  • December 15 @ 9:26 am

Oil and gas, petrochemical industries bracing for Biden administration

Those who were paying attention throughout the campaign know that Biden did say some things about the energy sector throughout the campaign.

  • BIC MAGAZINE
  • December 14 @ 6:02 pm

Bluewater Energy acquires Tri-Tech Energy Services

Bluewater Energy, Inc acquires Tri-Tech Energy Services.

  • BIC MAGAZINE
  • December 11 @ 10:59 am

U.S. petroleum refining capacity falls to its lowest level since May 2016

Earlier this year, operable refinery capacity declined by 335,000 b/cd from April to May after the Philadelphia Energy Solutions refinery in Pennsylvania closed.

  • BIC MAGAZINE
  • December 11 @ 8:00 am

Brent rises above $50/bbl for first time since March on vaccine optimism

Oil prices climbed nearly 4 percent on Thursday, with Brent surging above $50 a barrel for the first time since early March, fueled by hopes of a faster demand recovery as countries start to roll out COVID-19 vaccines.

  • BIC MAGAZINE
  • December 10 @ 4:33 pm

Downstream and midstream panelists ponder 2021 and beyond

Executives with downstream and midstream organizations offered their perspectives on what could be in store for their respective industry sectors during a Dec. 9, 2020, BIC Alliance industry roundtable.

  • BIC MAGAZINE
  • December 10 @ 10:06 am

U.S. biofuel coalition escalates legal attack on EPA blending waivers

A coalition of U.S. biofuel groups has filed a brief with the D.C. Circuit Court of Appeals challenging the Trump administration’s decision in 2019 to grant 31 oil refineries exemptions from U.S. biofuel blending obligations.

  • BIC MAGAZINE
  • December 9 @ 10:45 am

Midwest refiners to ship more fuel to East Coast, pressuring plants

U.S. Midwest refiners are gearing up to send more gasoline and diesel to East Coast buyers, hoping to fill a void created by refinery closures and cutbacks, but likely to add pressure to regional fuel producers.

  • BIC MAGAZINE
  • December 9 @ 10:29 am

Natural gas venting and flaring in North Dakota and Texas increased in 2019

The U.S. Energy Information Administration’s (EIA) 2020 Natural Gas Annual reports that the volume of U.S. natural gas that was vented and flared in 2019 was 1.48 billion cubic feet per day (Bcf/d), a record high annual average.

  • BIC MAGAZINE
  • December 8 @ 1:21 pm

California was the largest net electricity importer of any state in 2019

Electricity routinely flows between the Lower 48 states and, to a lesser extent, between the United States and Canada and Mexico.

  • BIC MAGAZINE
  • December 8 @ 8:00 am

The United States briefly returned to net importer status for petroleum earlier this year

The United States imported more crude oil and petroleum products than it exported in May and June of this year, briefly reversing the country’s 15-year-long trend toward becoming a net petroleum exporter.

  • BIC MAGAZINE
  • December 7 @ 4:11 pm

Aramco seeks to expand global footprint in chemicals

Aramco CEO commented on the challenges of 2020, his belief in a bright future for the chemical and petroleum industries, and his expectation that petrochemicals will represent over half of the growth in global oil demand over the next decade.

  • BIC MAGAZINE
  • December 3 @ 12:06 pm

U.S. carbon dioxide emissions decreased in 2019

U.S. energy-related carbon dioxide (CO2) emissions decreased in 2019 by 2.8%, or 150 million metric tons (MMmt) when compared with 2018.

  • BIC MAGAZINE
  • December 2 @ 2:51 pm

More power generation came from natural gas in first half of 2020

Natural gas-fired generation in the Lower 48 states increased nearly 55,000-gigawatt-hours (GWh), or 9%, in the first half of 2020 compared with the first half of 2019.

  • BIC MAGAZINE
  • December 2 @ 2:09 pm

Shell may permanently shut Louisiana refinery this week

Royal Dutch Shell PLC may begin the permanent shutdown of its 211,146 barrel-per-day Convent, Louisiana, refinery early next week.

  • BIC MAGAZINE
  • December 1 @ 10:49 am

Maersk Drilling awarded three-well contract by Petrogas

Maersk Drilling has secured a contract from Petrogas E&P Netherlands B.V. for the harsh environment jack-up rig Maersk Resilient to drill three wells at the B13 and A12 fields in the Dutch sector of the North Sea.

  • BIC MAGAZINE
  • December 1 @ 10:43 am

Oil majors wipe $80 billion off books as epidemic, energy transition bite

The world’s top energy companies have slashed the value of their oil and gas assets by around $80 billion in recent months.

  • BIC MAGAZINE
  • December 1 @ 10:27 am

U.S. shale firms amp up natural gas output as futures signal more gains

Higher natural gas futures prices for 2021 and a continued glut of crude oil are prodding U.S. shale firms to boost gas drilling and production.

  • BIC MAGAZINE
  • November 30 @ 11:05 am

Canadian indigenous deal with KXL oil pipeline took years, aims to unlock long-term wealth

TC Energy Corp’s sale of a $769 million stake in Keystone XL to a Canadian indigenous group is the result of over three years of pressure from a tiny Saskatchewan First Nation that demanded part ownership of the long-delayed project.

  • BIC MAGAZINE
  • November 30 @ 10:51 am

Desperate for fuel, Venezuelans steal PDVSA crude and make their own gasoline

Venezuelans, desperate for fuel after months of shortages, have begun stealing crude from idled fields owned by state oil company Petroleos de Venezuela and distilling homemade gasoline.

  • BIC MAGAZINE
  • November 30 @ 10:19 am

Pre-Thanksgiving gasoline prices at lowest level since 2015

Relatively low gasoline prices are attributable to relatively low crude oil prices, less overall demand for gasoline, and high gasoline inventories.

  • BIC MAGAZINE
  • November 25 @ 11:15 am

EU, UN-led pact commits oil and gas firms to tackle methane emissions

Dozens of oil and gas companies on Monday committed to report more accurately on and, ultimately, reduce emissions of the potent greenhouse gas methane which is liable to leak from oilfields and pipelines.

  • BIC MAGAZINE
  • November 24 @ 11:19 am

U.S. oil industry group pledges to fight possible Biden fracking limits

If U.S. President-elect Joe Biden tries to restrict development of oil and gas drilling on federal lands, the American Petroleum Institute (API) will use “every tool at its disposal” including legal action.

  • BIC MAGAZINE
  • November 24 @ 10:32 am

EPA issues major changes for oil and gas regulations

EPA has finalized a three-year effort to revise, amend or repeal the 2012 and 2016 New Source Performance Standards (NSPS) regulating VOC and methane emissions from the oil and gas production, processing, and transmission and storage segments.

  • BIC MAGAZINE
  • November 24 @ 1:00 am

Pipe dreams leave U.S. energy firms caught in climate trap

In remote northern Michigan a propane shortage in early 2014 caused prices to nearly double, squeezing about half of the families there who rely on the fossil fuel to heat their homes.

  • BIC MAGAZINE
  • November 23 @ 11:47 am

Interior Department contender says Biden would target Trump Arctic drilling push on first day

President Donald Trump’s last-minute push to allow drilling in a pristine part of Alaska’s Arctic will be an early target for the next administration.

  • BIC MAGAZINE
  • November 23 @ 11:26 am

Industry leaders look to coming years with cautious optimism

Members of the petrochemical industry have embraced this sentiment as they look to what the future holds following a tumultuous 2020.

  • BIC MAGAZINE
  • November 23 @ 8:00 am

Transatlantic diesel arrivals in U.S. surge to record in November

Arrivals of diesel and gasoil from Europe and the Baltics regions to the United States northeast coast have surged to a record high so far in November.

  • BIC MAGAZINE
  • November 20 @ 9:20 am

Oil set for third week of gains on vaccine hopes

Oil prices firmed on Friday, and were on track for a third consecutive weekly rise.

  • BIC MAGAZINE
  • November 20 @ 9:08 am

LyondellBasell sets ambitious plastic waste targets

LyondellBasell has set the ambitious goal to produce and market 2 million metric tons of recycled and renewable-based polymers annually by 2030. The Sustainability Report showcases LyondellBasell’s strategy and ambitions for the next decade.

  • BIC MAGAZINE
  • November 19 @ 5:02 pm

DOT awards $1 billion for 70 infrastructure projects

The Trump administration is investing $1 billion toward U.S. infrastructure through the Better Utilizing Investments to Leverage Development (BUILD) Transportation Discretionary Grants program.

  • BIC MAGAZINE
  • November 19 @ 5:01 pm

What is happening with the Keystone XL oil pipeline?

TC Energy Corp says it is continuing to advance its Keystone XL (KXL) oil pipeline.

  • BIC MAGAZINE
  • November 19 @ 11:39 am

Chemical recycling boost could see global plastic packaging recycling rate hit 50%

Approximately 220 million tonnes (MT) of plastic waste is generated globally each year.

  • BIC MAGAZINE
  • November 19 @ 9:41 am

Chemical recycling boost could see global plastic packaging recycling rate hit 50% by 2040

Approximately 220 million tonnes (MT) of plastic waste is generated globally each year.

  • BIC MAGAZINE
  • November 19 @ 9:41 am

Climate change winds lift Canadian renewable stocks, buffets oil sector

Canadian renewable utility stocks have soared this year as investors bet on a global expansion of cleaner power, abandoning oil and gas stocks that have plummeted due to pandemic travel restrictions.

  • BIC MAGAZINE
  • November 18 @ 10:18 am

WoodMac: Four signposts for the chemicals industry under a Biden administration

The Democrats are expected to retain control of the U.S. House of Representatives, but the Senate will be determined by upcoming run-offs in the state of Georgia.

  • BIC MAGAZINE
  • November 17 @ 8:43 am

Tellurian seeks buyers for output from proposed Louisiana LNG export terminal

Tellurian CEO told Bloomberg News he’s got other investors interested in buying 12 million metric tons of the terminal’s production annually.

  • BIC MAGAZINE
  • November 17 @ 8:42 am

Tellurian reportedly seeking buyers to sell Louisiana LNG

Tellurian CEO told Bloomberg News he’s got other investors interested in buying 12 million metric tons of the terminal’s production annually.

  • BIC MAGAZINE
  • November 17 @ 8:42 am

U.S. shale oil output to drop 139,000 bpd to 7.51 million bpd in December

U.S. oil output from shale formations is expected to decline by about 139,000 barrels per day (bpd) in December to about 7.51 million bpd, the lowest level since June.

  • BIC MAGAZINE
  • November 17 @ 8:00 am

Natural gas inventories end the injection season near the record high

The amount of natural gas held in underground storage in the Lower 48 states is now near the record-high value, 4,047 Bcf, reached in mid-November 2016.

  • BIC MAGAZINE
  • November 17 @ 8:00 am

Michigan governor files lawsuit to terminate Enbridge Line 5 easement

The termination requires the pipeline to be shut down 180 days from now, on May 12, 2021.

  • BIC MAGAZINE
  • November 16 @ 3:48 pm

Trump administration pushes to sell Alaska oil leases pre-Biden inauguration

The Trump Administration will take key steps to finalize a sale of oil drilling leases in the sensitive Arctic National Wildlife Refuge (ANWR) in Alaska just before Democrat Joseph Biden, who opposes drilling there, becomes president.

  • BIC MAGAZINE
  • November 16 @ 3:38 pm

Is cash flow stressing you out? Here’s what to do

To increase cash flow, businesses often need to do something different in order to bridge the gap.

  • BIC MAGAZINE
  • November 16 @ 2:50 pm

Environmental groups appeal Illinois order allowing Dakota pipeline expansion

Environmental groups are appealing a decision made last month by Illinois regulators to allow the expansion of the Dakota Access oil pipeline.

  • BIC MAGAZINE
  • November 16 @ 11:35 am

Würth and Baker Hughes announce joint service offering

Würth and Baker Hughes announce joint service offering to expand additive manufacturing solutions for customers globally.

  • BIC MAGAZINE
  • November 13 @ 11:34 am

Why your business needs a commercial card program now

The impact of COVID-19 is forcing businesses to look for new ways to conduct daily activities. That means considering ways to streamline and automate payment processes that often require you to be present in the office.

  • BIC MAGAZINE
  • November 13 @ 11:22 am

Future of Dakota Access pipeline uncertain as Biden presidency looms

The election of Democrat Joseph Biden could create more headaches for the Dakota Access Pipeline’s (DAPL) owners, who are already embroiled in legal battles to keep the main conduit for flowing oil out of North Dakota running.

  • BIC MAGAZINE
  • November 13 @ 10:03 am

bp, Ørsted creates renewable hydrogen partnership in Germany

bp and Ørsted have today signed a Letter of Intent (LOI) to work together to develop a ‎project for industrial-scale production of green hydrogen – a significant step in developing ‎bp’s hydrogen business.

  • BIC MAGAZINE
  • November 11 @ 3:20 pm

McDermott awarded FEED contract for Ichthys gas field development

McDermott International, Ltd today announced it has been awarded a contract to provide front end engineering and design (FEED) services for the INPEX-operated Ichthys Liquified Natural Gas Field Development.

  • BIC MAGAZINE
  • November 11 @ 3:18 pm

New technologies drive safer, more efficient tank inspections

Technological developments have allowed operators to make better decisions regarding their tanks.

  • BIC MAGAZINE
  • November 11 @ 10:31 am

Firm led by former Alaska governor seeks to take over LNG project

Former Alaska Governor Bill Walker said this week he was a founding member of Alaska Gasline & LNG LLC (AGLNG) that wants to take over the state’s Alaska liquefied natural gas (LNG) export project and complete it by March 2028.

  • BIC MAGAZINE
  • November 11 @ 9:44 am

Grön Fuels announces potential $9.2 billion renewable fuel complex in Louisiana

Gov. John Bel Edwards and Fidelis Infrastructure co-founders Daniel J. Shapiro and Bengt Jarlsjo announced their portfolio company Grön Fuels LLC is studying the feasibility of a renewable fuel complex at the Port of Greater Baton Rouge.

  • BIC MAGAZINE
  • November 11 @ 9:36 am

Shell to cut jobs and capacity at major refinery

Royal Dutch Shell will halve crude processing capacity and cut jobs at its Pulau Bukom oil refinery in Singapore as part of an overhaul to reduce the company’s carbon dioxide (CO2)emissions to net-zero by 2050.

  • BIC MAGAZINE
  • November 10 @ 9:52 am

U.S. renewable fuels legislation could garner bipartisan support under Biden

Renewable fuels are a niche market for now, but with Democratic President-Elect Joe Biden set to enter office with a divided Congress, legislation supporting demand for products like renewable diesel could garner bipartisan support.

  • BIC MAGAZINE
  • November 10 @ 9:49 am

Oil inventories to edge up, impact from Biden policies to take time

Global oil inventories may see a small rise in November due to new coronavirus-related restrictions but could return to pre-COVID-19 levels as soon as the second quarter of 2021.

  • BIC MAGAZINE
  • November 9 @ 11:24 am

U.S. refinery runs remain lower than the five-year range

Although runs have increased compared with their April lows, the continued effects of the pandemic, in addition to seasonal factors, have resulted in continued lower refinery runs.

  • BIC MAGAZINE
  • November 9 @ 10:27 am

Genesis Energy expects up to $50 million in losses due to storms

Genesis Energy LP said it expects to lose as much as $50 million this year due to a battery of storms that hit the U.S. Gulf of Mexico and forced lengthy offshore oil and gas production shut-ins, Chief Executive Grant Sims told investors.

  • BIC MAGAZINE
  • November 6 @ 11:10 am

HollyFrontier posts smaller-than-expected loss as fuel demand recovers

U.S. refiner HollyFrontier Corp HFC.N on Thursday posted a smaller-than-expected quarterly loss on the back of cost cuts and a recovery in fuel prices.

  • BIC MAGAZINE
  • November 6 @ 10:40 am

Oil drops as U.S. election uncertainty dominates markets

Oil prices fell on Thursday as Democrat Joe Biden edged closer to the White House in a nail-biting U.S. presidential election.

  • BIC MAGAZINE
  • November 5 @ 8:54 am

Baker Hughes to buy Compact Carbon Capture to advance energy transition plan

Baker Hughes Co. said it would buy Compact Carbon Capture AS in a bid to expand its footprint beyond oil and gas oilfield services as it prepares for a transition to a low-carbon future.

  • BIC MAGAZINE
  • November 5 @ 8:00 am

CVR Energy plans renewable diesel project in Kansas

CVR Energy Inc. plans to pursue a renewable diesel project at its 132,000 barrel per day (bpd) Coffeyville, Kansas, refinery.

  • BIC MAGAZINE
  • November 4 @ 12:44 pm

Republicans retain tight grip over Texas oil and gas regulator

A Texas Republican businessman swept to victory in the Texas Railroad Commission over a Democratic energy lawyer who had sought to put climate change on the state energy regulator’s agenda.

  • BIC MAGAZINE
  • November 4 @ 12:32 pm

Oil rises after Trump falsely claims victory in tight U.S. election

Oil prices rose on Wednesday but pared earlier gains after President Donald Trump falsely claimed victory in a tight U.S. election with millions of votes still to be counted and the final result not yet clear.

  • BIC MAGAZINE
  • November 4 @ 12:22 pm

Shell to divest 8 refineries from its portfolio

The refineries will become integrated with chemicals and increasingly with low-carbon fuels such as biofuels, hydrogen, and synthetic fuels.

  • BIC MAGAZINE
  • November 3 @ 10:35 am

Oil prices extend rally on U.S. election day

Oil prices extended their rally on U.S. election day with a 3 percent gain as financial markets staged a broad recovery.

  • BIC MAGAZINE
  • November 3 @ 9:40 am

Oil drops as lockdowns widen and U.S. election looms

Oil prices fell‮‮ ‬‬on Monday on worries that widening coronavirus lockdowns in Europe would weaken fuel demand while concerns remain over potential turbulence resulting from this week’s U.S. presidential election.

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  • November 2 @ 11:35 am

U.S. early voting surges as Trump, Biden make late push

A record 90 million Americans have voted early in the U.S. presidential election, data on Saturday showed.

  • BIC MAGAZINE
  • November 2 @ 11:28 am

Great Lakes Dredge & Dock moves to Houston

Texas puts it closer to major regional projects, boosts new business opportunities.

  • BIC MAGAZINE
  • November 2 @ 10:56 am

NuStar Energy divests its Texas City Terminals to BWC Terminals

NuStar Energy L.P. will sell its terminals in Texas City, Texas, to BWC Terminals for $106 million.

  • BIC MAGAZINE
  • November 2 @ 10:33 am

Campo: Houston Ship Channel essential to U.S. economy, future

The Houston Ship Channel is the largest petrochemical complex in America and the second largest in the world.

  • BIC MAGAZINE
  • November 1 @ 12:00 am

Plains Midstream Canada to expand ownership in North America’s largest natural gas processing center

There are three processing plant complexes in Empress—one with multiple natural gas processing plants.

  • BIC MAGAZINE
  • October 30 @ 11:24 am

U.S. death toll from Hurricane Zeta rises to six, millions without power

At least six people were killed in the southeast of the United States and more than two million people were without power on Thursday.

  • BIC MAGAZINE
  • October 30 @ 10:04 am

U.S. biodiesel production capacity declined slightly in 2019

At the start of 2020, 91 biodiesel production facilities were located in the United States.

  • BIC MAGAZINE
  • October 30 @ 9:42 am

Eight irrefutable energy truths

America’s natural gas revolution has upended energy markets, geopolitics and quality of life. Despite innovation and disruptive technology delivering this positive black swan, there is a war being waged against it.

  • BIC MAGAZINE
  • October 30 @ 9:10 am

Natural gas prices and renewable capital costs affect the generation mix in China

In the International Energy Outlook 2020 (IEO2020), the U.S. Energy Information Administration (EIA) projects that electricity generation in Asia will more than double between 2019 and 2050.

  • BIC MAGAZINE
  • October 29 @ 10:49 am

U.S. chemical production expanded in september

In September, chemical production continued to improve in many segments.

  • BIC MAGAZINE
  • October 29 @ 10:17 am

U.S. refiners shrink distillate surplus but market remains vulnerable

U.S. refiners on course to digest excess diesel by March.

  • BIC MAGAZINE
  • October 29 @ 9:49 am

ConocoPhillips posts smaller-than-expected loss as oil prices recover

Oil producer ConocoPhillips, which is buying Concho Resources Inc. for $8.3 billion.

  • BIC MAGAZINE
  • October 29 @ 9:46 am

NOVA Chemicals signs agreement to sell its expandable styrenics business to Alpek

This sale strengthens NOVA Chemicals balance sheet for continued growth and further investment in a plastics circular economy.

  • BIC MAGAZINE
  • October 28 @ 10:23 am

Performance Pipe becomes distributor of Grupo Torre’s Supraflow™ gas pipe tap tees

The Supraflow™ gas pipe tees offer utility operators a new solution to streamline how to tap 4- to 18-inch pressurized polyethylene (PE) gas pipelines with outlets of 4, 6 and 8 inches.

  • BIC MAGAZINE
  • October 27 @ 7:00 am

Deloitte: Building resilience in oil, gas, and chemicals

Downstream: Navigating disruption and preparing for new opportunities

  • BIC MAGAZINE
  • October 27 @ 7:00 am

OPEC chief says rising infections may delay oil recovery

OPEC’s secretary general said on Monday an oil market recovery may take longer than hoped as coronavirus inflections rise around the world.

  • BIC MAGAZINE
  • October 26 @ 9:59 am

Cenovus to buy Husky for $2.9B to create No.3 Canadian energy firm

Cenovus Energy Inc has agreed to buy rival Husky Energy Inc in an all-stock deal valued at $2.9 billion to create Canada’s No. 3 oil and gas producer as a pandemic-driven demand collapse and weak oil prices force the industry to consolidate.

  • BIC MAGAZINE
  • October 26 @ 9:48 am

U.S. oil and gas rigs rise to highest since May

U.S. energy firms this week added oil and natural gas rigs for a sixth week in a row for the first time since June 2018.

  • BIC MAGAZINE
  • October 26 @ 9:29 am

Trump, Biden clash over climate, oil industry in final debate

Republican President Donald Trump and Democratic challenger Joe Biden clashed over the country’s response to climate change in their final presidential debate.

  • BIC MAGAZINE
  • October 23 @ 1:12 pm

U.S. lawmakers complain to Trump over Mexican energy policy

More than 40 U.S. lawmakers have written a letter to President Donald Trump expressing concern that the Mexican government is threatening U.S. energy companies’ investments and market access.

  • BIC MAGAZINE
  • October 23 @ 1:06 pm

U.S. crude exports likely to be muted through 2020 as production slides

U.S. crude oil exports are expected to sputter through the end of 2020 due to weak production and unfavorable economics for foreign buyers of U.S. oil.

  • BIC MAGAZINE
  • October 22 @ 9:13 am

Kinder Morgan profit falls as pandemic hits demand for refined products

U.S. pipeline operator Kinder Morgan Inc. reported a 10 percent drop in quarterly profit on Wednesday as a steep fall in energy demand due to the coronavirus crisis led to lower shipments of refined products and natural gas.

  • BIC MAGAZINE
  • October 22 @ 8:55 am

U.S. oil refineries slow as gasoline demand softens

By restricting crude processing and focusing on making gasoline, U.S. petroleum refiners have made progress in reducing excess stocks of middle distillates such as diesel and heating oil.

  • BIC MAGAZINE
  • October 22 @ 8:43 am

Pioneer Natural to buy Parsley for $4.5B in all-stock deal

Many shale companies have been mired in losses because of weak crude prices, hovering around $40 a barrel since June.

  • BIC MAGAZINE
  • October 21 @ 10:45 am

Oil prices slip as U.S. inventory build stokes fears of supply glut

Oil prices eased on Wednesday after a surprise build-up in U.S. crude stockpiles stoked concerns about a global supply glut and a spike in global COVID-19 cases fuelled fears of a stalled oil demand recovery.

  • BIC MAGAZINE
  • October 21 @ 10:19 am

Minnesota judge upholds state decision on Enbridge Line 3 pipeline replacement

A Minnesota judge on Friday ruled that the state’s pollution regulator and Enbridge Inc used proper methods for water crossing for its Line 3 oil pipeline replacement, clearing another hurdle for the project that has faced years of delay.

  • BIC MAGAZINE
  • October 20 @ 7:00 am

Wind power, EVs help Xcel Energy ‘own the future’

In March 2000, the National Academy of Engineering declared electrification to be the greatest engineering achievement of the 20th century.

  • BIC MAGAZINE
  • October 19 @ 4:16 pm

Equinor collaborates with Microsoft on Northern Lights carbon capture and storage value chain

Equinor has signed a Memorandum of Understanding with Microsoft to explore ways to support the Northern Lights carbon capture and storage project as a technology partner.

  • BIC MAGAZINE
  • October 19 @ 4:03 pm

The United States consumed a record amount of renewable energy in 2019

In 2019, consumption of renewable energy in the United States grew for the fourth year in a row, reaching a record 11.5 quadrillion British thermal units (Btu), or 11% of total U.S. energy consumption.

  • BIC MAGAZINE
  • October 19 @ 3:58 pm

IEA says refining throughput set for quarterly rise

Global refining throughput will increase in the last quarter of the year by more than 2 million barrels per day.

  • BIC MAGAZINE
  • October 19 @ 1:12 pm

Oil steady on new lockdowns, vaccine hopes

Oil steadied on Monday, pressured by concerns over surging coronavirus cases globally and by Libya’s plan to boost output, but prices found some support from hopes for a U.S. fiscal package and expectations of a vaccine by the end of the year.

  • BIC MAGAZINE
  • October 19 @ 11:14 am

Facing wave of closures, oil refiners turn to biofuels

European and U.S. oil refineries face a wave of closures due to plateauing fuel demand.

  • BIC MAGAZINE
  • October 19 @ 10:13 am

Texas Waha natgas prices drop to negative on weak demand

Spot natural gas prices at the Waha hub in the Permian basin in West Texas turned negative for the first time since April.

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  • October 19 @ 10:02 am

Halliburton eyes slimmer shale industry but more profitable future

The U.S. shale industry will continue to shrink, but energy companies will emerge from the COVID-19 pandemic downturn stronger.

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  • October 19 @ 9:56 am

ConocoPhillips to acquire Concho Resources for $9.7B

The deal is expected to close in the first quarter of 2021.

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  • October 19 @ 9:07 am

U.S. FERC says it has jurisdiction over power market carbon price plans

FERC said the policy statement seeks to encourage regional electric market operators to explore and consider the benefits of establishing such rules.

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  • October 16 @ 9:06 am

BP starts production from Ghazeer gas field in Oman

BP, in partnership with OQ, PETRONAS and the Ministry of Energy & Minerals in Oman, started production from its Block 61 Phase 2 Ghazeer gas field.

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  • October 14 @ 9:38 am

DNV GL, Aker BP perform remote surveys of offshore cranes

DNV GL led a pilot project with Aker BP to remotely perform inspections on three of their offshore cranes on the Norwegian Continental Shelf.

  • BIC MAGAZINE
  • October 13 @ 10:45 am

Global liquid fuels production outages have increased in 2020

Disruptions to crude oil and condensate production from members of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC countries have risen considerably since last year.

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  • October 13 @ 10:21 am

Shell to carry out Pernis oil refinery maintenance on one unit

The company did not specify the unit involved.

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  • October 13 @ 10:04 am

OPEC cuts 2021 oil demand forecast again as virus cases rise

World oil demand will rebound more slowly in 2021 than previously thought as coronavirus cases rise.

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  • October 13 @ 9:51 am

Mitsui & Co to sell all stakes in coal-fired power plants by 2030

Japanese trading house Mitsui & Co Ltd plans to sell its remaining stakes in coal-fired power stations by the end of the decade as it shifts to gas from coal to help achieve its 2050 net-zero emission target.

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  • October 12 @ 12:29 pm

New report documents LNG industry expansion derailed by Covid-19 recession and glut of natural gas

The nonprofit Environmental Integrity Project is holding a press teleconference today to release its new report, “Troubled Waters for LNG: The Covid-19 Recession and Overproduction Derail Planned Construction of Liquefied Natural Gas Terminals.”

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  • October 12 @ 9:56 am

Chevron Phillips Chemicals successfully produces polyethylene in advanced recycling technology

Chevron Phillips Chemical (CPChem) has announced success in its first commercial-scale production of polyethylene using advanced recycling technology.

  • BIC MAGAZINE
  • October 9 @ 10:21 am

BASF releases new product innovations in its selective hydrogenation catalysts portfolio

A new series of commercially proven alumina catalysts is now available with new performance features that can benefit selective hydrogenation applications.

  • BIC MAGAZINE
  • October 9 @ 10:06 am

EIA forecasts increased consumption, lower production of propane in the winter of 2020–21

The U.S. Energy Information Administration (EIA) forecasts higher propane consumption and lower domestic propane production this heating season (October through March) in the recently released Short-Term Energy Outlook (STEO).

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  • October 9 @ 9:36 am

McDermott ships FPSO modules to Mexico

The FPSO will be located in the Area 1 block, approximately six miles off the coast of Mexico in the shallow waters of the Campeche Bay.

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  • October 7 @ 9:58 am

Mexico plans $4.65 billion in energy projects, focus on refining

A $14 billion investment plan unveiled by the Mexican government on Monday focuses energy outlays on the refining business of Petroleos Mexicanos (Pemex), aiming to boost the state oil firm’s ability to process heavy crudes.

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  • October 7 @ 9:49 am

Chevron, Brightmark form JV for dairy biomethane fuel project

The joint venture to market will dairy biomethane, a renewable natural gas made of methane emissions from cattle burps.

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  • October 7 @ 9:43 am

U.S. natural gas production, consumption, and exports set new records in 2019

The U.S. Energy Information Administration’s (EIA) Natural Gas Annual shows that the United States set new records in natural gas production, consumption, and gross exports in 2019.

  • BIC MAGAZINE
  • October 7 @ 9:06 am

U.S. oil refiners look to leapfrog Canadians in making renewable diesel

U.S. oil refineries are moving aggressively to produce renewable diesel, partly to cash in on Canada’s greener fuel standard before Canadian refiners modify their own plants.

  • BIC MAGAZINE
  • October 6 @ 3:39 pm

U.S. natgas output, demand to fall in 2020 from peaks due to coronavirus

U.S. natural gas production and demand will drop in 2020 from record highs last year as coronavirus lockdowns cut economic activity and energy prices.

  • BIC MAGAZINE
  • October 6 @ 2:09 pm

Oil and gas discovery close to North Sea Fram field

Equinor and its licence partners Petoro AS and Wellesley Petroleum AS have found oil and gas in the Swisher prospect.

  • BIC MAGAZINE
  • October 5 @ 3:54 pm

Offshore O&G pipeline demand set for 26 percent drop in 2020

The global oil and gas market demand for large-diameter offshore pipeline, known as trunkline, is set for an annual drop of 26% this year.

  • BIC MAGAZINE
  • October 5 @ 3:49 pm

New plastics set standards in flame retardancy and electrical insulation

On the occasion of this year’s International Trade Fair for Plastics Processing (Fakuma), BASF is showcasing on its virtual platform two new high-performance plastics.

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  • October 5 @ 3:35 pm

Weir Group to sell oil & gas division to Caterpillar

Weir Group Plc said it had agreed to sell its oil and gas division to U.S. heavy equipment maker Caterpillar Inc for $405 million in cash.

  • BIC MAGAZINE
  • October 5 @ 10:55 am

U.S. oil deals sluggish despite Chevron, Devon boost

The pace of mergers and acquisitions in the U.S. oil and gas sector during the third quarter tied with the first quarter for the worst in a decade.

  • BIC MAGAZINE
  • October 5 @ 10:35 am

EPA chief scorns Calif. Newsom’s plan to ban gasoline-powered car sales

The sale of all gasoline-powered vehicles in California will be phased out by 2035 in an effort to reduce greenhouse gas emissions by encouraging the state’s drivers to switch to electric cars.

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  • October 2 @ 3:51 pm

California to phase out gasoline-powered cars

The sale of all gasoline-powered vehicles in California will be phased out by 2035 in an effort to reduce greenhouse gas emissions by encouraging the state’s drivers to switch to electric cars.

  • BIC MAGAZINE
  • October 2 @ 3:51 pm

BASF closes divestiture of its Construction Chemicals business

On September 30, 2020, effective at midnight, BASF closed the divestiture of its Construction Chemicals business to an affiliate of Lone Star, a global private equity firm.

  • BIC MAGAZINE
  • October 1 @ 1:55 pm

Marathon Petroleum cutting at least 6% of refinery staff at nine U.S. plants

Marathon Petroleum Corp.’s oil-refining unit is cutting at least 6 percent of its staff.

  • BIC MAGAZINE
  • September 30 @ 2:36 pm

U.S. fuel ethanol production capacity increased by 3% in 2019

Fuel ethanol production capacity in the United States totaled 17.3 billion gallons per year (gal/y), or 1.1 million barrels per day (b/d), as of January 2020.

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  • September 29 @ 10:13 am

BASF announces new product innovations in its selective hydrogenation catalysts portfolio

A new series of commercially proven alumina catalysts are now available with new performance features that can benefit selective hydrogenation applications.

  • BIC MAGAZINE
  • September 29 @ 10:06 am

Trump-backed Canadian railway to Alaska could free landlocked oil

The $17 billion project, which backers hope will be in service by the end of the decade, was first proposed in 2015 by Canadian infrastructure financier Sean McCoshen.

  • BIC MAGAZINE
  • September 29 @ 9:39 am

Mercuria sets up U.S. renewables fund with private equity partners

The fund, Broad Reach Power, is backed by Mercuria, EnCap Investments and Yorktown Partners.

  • BIC MAGAZINE
  • September 29 @ 9:29 am

Oil steady as surging virus cases cloud demand outlook

Oil prices were largely steady but on track for their first monthly fall since April as rising coronavirus cases continued to spur concerns about demand.

  • BIC MAGAZINE
  • September 28 @ 12:50 pm

Devon Energy to buy WPX for $2.56B in Delaware push

The deal comes as U.S. shale companies post losses due to weak crude prices and struggle to raise new capital to restructure debt.

  • BIC MAGAZINE
  • September 28 @ 10:39 am

Slightly more U.S. petroleum products were exported in first half of 2020 than in 2019

In the first half of 2020, the United States exported 5.4 million barrels per day (b/d) of petroleum products, a slight increase of 48,000 b/d (1%) from the first half of 2019.

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  • September 28 @ 10:20 am

AFPM Statement on California ICE Vehicle Ban

AFPM President and CEO Chet Thompson today issued the following statement in response to Gov. Newsom’s executive order

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  • September 24 @ 3:31 pm

U.S. fracking services won’t recover to pre-pandemic levels until 2025

Demand for U.S. fracking services will not return to pre-pandemic levels until 2025.

  • BIC MAGAZINE
  • September 23 @ 9:51 am

Ongoing pandemic forces ILTA to cancel November conference and trade show

The International Liquid Terminals Association has announced that its Board of Directors has voted to cancel its 40th Annual Operating Conference and Trade Show.

  • BIC MAGAZINE
  • September 23 @ 9:34 am

INEOS signs industrial wind power contract with ENGIE

ENGIE supplies renewable energy to INEOS from the Norther offshore windfarm in the North Sea from 1st January 2021

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  • September 23 @ 8:54 am

INEOS agrees to the largest ever industrial wind power purchase contract in Belgium with ENGIE

ENGIE supplies renewable energy to INEOS from the Norther offshore windfarm in the North Sea from 1st January 2021

  • BIC MAGAZINE
  • September 23 @ 8:54 am

Oil edges up to $42, eyeing Libya and U.S. inventories

Oil edged up to around $42 a barrel on Wednesday supported by rising investor risk appetite and a report that U.S. fuel inventories fell.

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  • September 23 @ 8:43 am

Port of Corpus Christi Returns to Normal Readiness Post-Tropical Storm Beta

The Port of Corpus Christi has returned its Hurricane Readiness Status to Port Condition 5

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  • September 23 @ 8:34 am

U.S. crude oil exports have fallen in each month since their record high in February

U.S. crude oil exports reached a record high in February 2020 and have since fallen in each month, based on data through June, according to the U.S. Energy Information Administration’s (EIA) Petroleum Supply Monthly.

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  • September 22 @ 10:48 am

Poll finds gulf state voters support offshore energy exploration, sensible energy solutions

An overwhelming majority of voters in Texas, Louisiana, Mississippi and Alabama support sensible offshore exploration and production in the Gulf of Mexico, a new poll from Consumer Energy Alliance (CEA) reveals.

  • BIC MAGAZINE
  • September 21 @ 2:27 pm

Oil refiners worldwide struggle with weak demand, inventory glut

Global oil refiners reeling from months of lackluster demand and an abundance of inventories are cutting fuel production into the autumn because the recovery in demand from the impact of coronavirus has stalled.

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  • September 21 @ 10:37 am

Oil prices fall after Haftar signals Libya output to resume

Oil prices edged lower on Friday after Libyan commander Khalifa Haftar said a blockade on Libyan oil exports.

  • BIC MAGAZINE
  • September 18 @ 8:48 am

Daimler to pay $2.2 billion in diesel emissions cheating settlements

Daimler AG will pay $2.2 billion to resolve a U.S. government diesel emissions cheating investigation and claims from 250,000 U.S. vehicle owners.

  • BIC MAGAZINE
  • September 17 @ 9:24 am

Trump EPA sides with farmers over refiners in biofuel waiver decision

The Trump administration said it rejected scores of requests from U.S. oil refiners for waivers that would have retroactively spared them from their obligation to blend biofuels like ethanol into their fuel.

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  • September 16 @ 10:23 am

Oil refiners shut plants as demand losses may never return

The pandemic initially cut global fuel demand 30 percent and refiners temporarily idled plants.

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  • September 16 @ 9:57 am

Oil jumps above $41 as storm hits U.S. output, inventories drop

Oil prices rose for a second day on Wednesday, gaining more than 2 percent, as a hurricane closed U.S. offshore production and an industry report showed U.S. crude inventories unexpectedly decreased.

  • BIC MAGAZINE
  • September 16 @ 9:33 am

Developers seek FERC extension for Magnolia LNG

The Glenfarne Group and Kinder Morgan Louisiana Pipeline LLC are seeking a five-year extension to build the Magnolia LNG export facility and related pipelines in Louisiana.

  • BIC MAGAZINE
  • September 16 @ 9:07 am

Oil industry paints grimmer picture of pandemic’s harm to demand

Major oil industry producers and traders are forecasting a bleak future for worldwide fuel demand, due to the coronavirus pandemic’s ongoing assault on the global economy.

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  • September 16 @ 7:00 am

Energy transitions, job losses and political reactions

Like other technology shifts, energy transitions provoke strong responses because they involve changes in lives and livelihoods, that go far beyond narrow technical questions about the source and delivery of energy.

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  • September 15 @ 10:31 am

Oil rises but bleaker demand outlook weighs

Oil prices rose, supported by hurricane supply disruptions in the United States, but forecasts of a slower than expected recovery in global demand from the pandemic weighed.

  • BIC MAGAZINE
  • September 15 @ 10:10 am

Pennsylvania orders Sunoco to reroute section of Mariner East 2 NGL pipe

Pennsylvania environmental regulators ordered Energy Transfer LP’s Sunoco Pipeline unit to reroute a section of the Mariner East 2 natural gas liquids pipeline after spilling 8,000 gallons of drilling fluid.

  • BIC MAGAZINE
  • September 15 @ 9:50 am

GlobalData: Middle East, Asia to lead global polyethylene terephthalate capacity additions by 2024

The global polyethylene terephthalate capacity is poised to see considerable growth over the next five years, potentially increasing from 30.47 million tonnes per annum (mtpa) in 2019 to 35.28 mtpa in 2024.

  • BIC MAGAZINE
  • September 15 @ 9:35 am

BP and Microsoft partner to drive digital energy ‎innovation and advance net zero goals

BP and Microsoft Corp. have agreed to collaborate as strategic partners to further digital transformation ‎in energy systems and advance the net-zero carbon goals of both companies.

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  • September 15 @ 9:31 am

Align completes TOPS Pipeline, forms joint venture

Harvest Midstream completes new Ingleside Pipeline

  • BIC MAGAZINE
  • September 14 @ 1:43 pm

Fossil fuels account for the largest share of U.S. energy production and consumption

In 2019, 80% of domestic energy production was from fossil fuels, and 80 percent of domestic energy consumption originated from fossil fuels.

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  • September 14 @ 10:10 am

Dow sells U.S. Gulf Coast marine and terminal operations

Transaction demonstrates Dow’s best-owner mindset and continued evaluation of non-revenue-generating assets across its global portfolio.

  • BIC MAGAZINE
  • September 14 @ 9:32 am

Louisianans save $68.8 billion over 10 years thanks to natural gas

Thanks to increased production of abundant, affordable natural gas, Louisiana families and businesses saved more than $68.8 billion between 2008 and 2018.

  • BIC MAGAZINE
  • September 13 @ 10:44 pm

LNG retrofits: The time is now

In April 2018, MEPC 72 adopted resolution MEPC.304(72) on the Initial IMO Strategy on reduction of greenhouse gas (GHG) emissions from ships.

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  • September 13 @ 10:40 pm

Reaching energy and climate goals demands a dramatic scaling up of clean energy technologies – starting now

Transforming the power sector alone will only get the world one-third of the way to net-zero emissions, new IEA report says, highlighting the need for greater efforts in other key sectors

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  • September 13 @ 10:38 pm

LyondellBasell starts pilot molecular recycling facility

LyondellBasell starts its MoReTec molecular recycling facility at its Ferrara, Italy, site.

  • BIC MAGAZINE
  • September 11 @ 9:46 am

LyondellBasell Successfully Starts Up New Pilot Molecular Recycling Facility

LyondellBasell, one of the largest plastics, chemicals and refining companies in the world, today announced the successful start-up of its MoReTec molecular recycling facility at its Ferrara, Italy, site.

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  • September 11 @ 9:46 am

Oil benchmark Brent holds above $40/bbl

Oil prices were broadly stable on Thursday after losses earlier in the session but hovered near three-month lows after data showed U.S. crude stockpiles rose last week and the U.S. Energy Information Administration lowered its demand outlook.

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  • September 10 @ 10:57 am

BP enters offshore wind with $1.1B Equinor deal

BP entered the offshore wind market on Thursday with a $1.1 billion deal to buy 50% stakes in two U.S. developments from Norway’s Equinor.

  • BIC MAGAZINE
  • September 10 @ 10:32 am

WoodMac at Gastech: What could an accelerated energy transition mean for the global gas market?

Global gas markets have weathered significant change this year. But beyond the coronavirus pandemic, the gas sector faces even greater change, meeting the challenge as the energy transition gathers pace.

  • BIC MAGAZINE
  • September 10 @ 10:16 am

Total Boiler awarded major contract by Preferred Utilities MFG

Total Boiler & Mechanical LLC has been awarded the installation of a new Babcock & Wilcox® 300,000-pound-per-hour steam boiler by Preferred Utilities MFG Corp.

  • BIC MAGAZINE
  • September 9 @ 3:00 pm

Bilfinger’s HPC contracts exceed half-billion euros

Bilfinger’s current volume of work for the new nuclear power plant Hinkley Point C (HPC) in England now exceeds the half-a-billion euros mark.

  • BIC MAGAZINE
  • September 9 @ 2:44 pm

Baker Hughes plots low carbon future as oil prices remain low

Baker Hughes is pivoting to customers preparing for the transition to a low-carbon future, bolstering its footprint beyond oil and gas oilfield services.

  • BIC MAGAZINE
  • September 9 @ 10:13 am

Energy Transfer projects expanded Dakota Access pipeline to operate late next year

Energy Transfer LP expects to have expanded capacity available on its embattled Dakota Access crude oil pipeline by the third quarter of next year.

  • BIC MAGAZINE
  • September 9 @ 10:06 am

Enterprise abandons Texas pipeline project as oil prices remain weak

Enterprise Products Partners LP on Wednesday abandoned a major 450,000-barrels-per-day Permian crude pipeline project in Texas and agreed to give customers lower near-term commitments on other pipelines.

  • BIC MAGAZINE
  • September 9 @ 9:59 am

Reversing course ahead of election, Trump extends drilling ban off Florida

U.S. President Donald Trump on Tuesday signed an order to extend a ban until 2032 on offshore oil drilling in the eastern Gulf of Mexico off Florida as he seeks to win support in the state ahead of the Nov. 3 election.

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  • September 9 @ 9:50 am

U.S. renewable fuel credits rise to two-year high after Reuters report

Renewable fuel (D6) credits RIN-D6-US for 2020 traded at 55 cents each on Wednesday, up almost 18 percent from the previous session.

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  • September 9 @ 9:34 am

Real-time banking capabilities support business continuity

Remote access to banking transactions and information is as important for everyday efficiency as it is for business continuity in times of crisis.

  • BIC MAGAZINE
  • September 8 @ 1:33 pm

Pipelines safely transport La. oil and gas globally

Over 190,000 miles of pipelines crisscross the U.S., creating a safe, efficient and reliable underground network to transport the petroleum and natural gas we rely on to fuel our homes, cars and businesses each day.

  • BIC MAGAZINE
  • September 8 @ 12:55 pm

Natural gas price differentials to Henry Hub narrowed at most hubs in first half of 2020

The average spot price differentials between regional natural gas hubs and the Henry Hub, also typically known in the natural gas industry as the basis price, have narrowed at many trading hubs in the first half of 2020.

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  • September 8 @ 10:45 am

Oil slides over 3% to lowest since June on demand fears

Oil slid more than 3 percent towards $40 a barrel on Tuesday.

  • BIC MAGAZINE
  • September 8 @ 9:02 am

Motiva restarts crude distillation units at Texas refinery

Motiva Enterprises restarted the largest and second-largest crude distillation units (CDUs), coker and hydrocracker on Saturday at its 607,000 barrel-per-day (bpd) Port Arthur, Texas, refinery.

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  • September 8 @ 8:57 am

U.S. gasoline prices heading into Labor Day weekend were the lowest since 2004

The U.S. average regular gasoline retail price as of the Monday before Labor Day weekend is $2.22 per gallon (gal) this year, the lowest level for this time of year since 2004.

  • BIC MAGAZINE
  • September 4 @ 2:55 pm

U.S. gasoline prices heading into Labor Day weekend are the lowest since 2004

The U.S. average regular gasoline retail price as of the Monday before Labor Day weekend is $2.22 per gallon (gal) this year, the lowest level for this time of year since 2004.

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  • September 4 @ 2:55 pm

Exxon restarting large crude unit, coker at Beaumont, Texas, refinery

The entire refinery was shut on Aug. 25 because of the threat from Hurricane Laura.

  • BIC MAGAZINE
  • September 4 @ 9:57 am

Power outage after Hurricane Laura prevents return to normal operations at U.S. oil reserve site

An ongoing power outage due to Hurricane Laura has prevented a return to normal operations at a Louisiana site of the U.S. emergency oil reserve.

  • BIC MAGAZINE
  • September 4 @ 9:49 am

Wood Mac: U.S. energy storage market sets Q2 record for deployments

The United States energy storage sector saw its strongest second quarter on record for deployments.

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  • September 4 @ 9:16 am

BASF installs enhanced oil recovery polymer injection plants

With its enhanced oil recovery (EOR) technologies, BASF offers solutions that help revive oilfields in decline by maximizing extraction efficiency from the reservoir.

  • BIC MAGAZINE
  • September 4 @ 8:32 am

Chevron restores production at five Gulf of Mexico platforms

Chevron Corp said it has redeployed all essential personnel and restored production at five of its six operated platforms in the Gulf of Mexico that were shut due to storms Marco and Laura.

  • BIC MAGAZINE
  • September 3 @ 11:38 am

Oil prices at one-month low on demand worries

Oil prices extended losses on Thursday, falling to their lowest point since early August, as worries about weaker U.S. gasoline demand and a sluggish economic recovery from the COVID-19 pandemic dented sentiment.

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  • September 3 @ 11:21 am

PU: U.S. LNG exporters face adverse market in 2020 but outlook to improve

U.S. LNG exporters faced an adverse market in 2020 as contract customers paid to reject cargoes rather than take them amid sharply lower spot prices caused by a supply glut, but demand will begin to improve.

  • BIC MAGAZINE
  • September 2 @ 7:00 am

Schlumberger sells North America fracking unit as oil crash cripples demand

Schlumberger said it is selling its North America fracking business to rival Liberty Oilfield Services Inc. for a 37 percent stake in a new combined company.

  • BIC MAGAZINE
  • September 1 @ 10:09 am

U.S. oil production rose to 10.4 million bpd in June

U.S. oil production rose in June, but did not fully recover from a dramatic plunge in May, according to a government report on Monday, according to Reuters.

  • BIC MAGAZINE
  • September 1 @ 10:06 am

U.S. court rejects bid to halt Kinder Morgan gas pipeline

A nearly-complete $2.3 billion pipeline to carry natural gas from West Texas shale fields to the U.S. Gulf Coast can move ahead, a U.S. judge in Austin, Texas, ruled on Friday, rejecting an environmental group’s effort to halt the project.

  • BIC MAGAZINE
  • August 31 @ 1:48 pm

EIA forecasts resilient, growing ethane production through 2021

EIA’s August STEO calls for continuing growth in ethane production to satisfy growing demand, including demand from three new U.S. petrochemical plants that started up in the first half of 2020 and use ethane as feedstock.

  • BIC MAGAZINE
  • August 31 @ 9:45 am

Second U.S. shale boom’s legacy: Overpriced deals, unwanted assets

Oil and gas companies plunged over $156 billion into corporate takeovers and land deals during the second U.S. shale boom, in a massive bet that good times would continue and crude prices would rise.

  • BIC MAGAZINE
  • August 31 @ 9:41 am

Whitecap to buy NAL Resources for nearly $119MM

Whitecap said it would issue 58.3 million of its shares to Manulife in exchange for all the issued and outstanding shares of NAL, which operates in Canada’s Saskatchewan and Alberta.

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  • August 31 @ 9:01 am

Mexico’s natural gas consumption declines amid COVID-19 mitigation efforts

Since the onset of the coronavirus disease 2019 (COVID-19) pandemic, natural gas consumption in Mexico has declined.

  • BIC MAGAZINE
  • August 31 @ 7:00 am

Kinder Morgan brings final Elba Island LNG liquefaction unit online

Previously only a liquefied natural gas (LNG) import terminal, the Elba Island Liquefaction facility is now also producing LNG for export purposes.

  • BIC MAGAZINE
  • August 28 @ 10:02 am

Changing demand for petroleum products has led to operational changes at U.S. refineries

Demand for transportation fuels in the United States has fallen since mid-March because of the spread of coronavirus and efforts to mitigate it.

  • BIC MAGAZINE
  • August 28 @ 9:40 am

Sasol Lake Charles project stays shut, evades hurricane flooding

Sasol Lake Charles chemicals project in Louisiana remains shut after Hurricane Laura hit the U.S. Gulf Coast.

  • BIC MAGAZINE
  • August 28 @ 9:30 am

McDermott awarded FEED for pipeline in Vietnam

McDermott International Ltd. today announced it has been awarded a contract by Delta Offshore Energy to provide front-end engineering design (FEED) services for a subsea gas pipeline.

  • BIC MAGAZINE
  • August 28 @ 9:25 am

U.S. energy exports severely disrupted by Hurricane Laura

Oil and gas exports from the United States have been severely disrupted by Hurricane Laura, with nearly a million barrels per day (bpd) of crude exports likely reduced this week by closures of U.S. Gulf Coast terminals and disruptions at ports.

  • BIC MAGAZINE
  • August 28 @ 7:27 am

GlobalData: Refiners in U.S. grapple with loss of fuel demand and COVID-19 outbreak

The demand for gasoline and jet fuel has taken a hit as a result of nation-wide lockdown across the US since late March 2020 due to the COVID-19 pandemic.

  • BIC MAGAZINE
  • August 27 @ 9:25 am

The United States set record for daily natural gas power burn in late July

In the United States, natural gas consumed by electric power plants (power burn) set a daily record high of 47.2 billion cubic feet (Bcf) on Monday.

  • BIC MAGAZINE
  • August 27 @ 7:00 am

Rystad Energy: A deep dive into Obama and Trump records, Biden’s proposed plan

As the 2020 presidential election in the U.S. is approaching, Rystad Energy has looked at how the country’s oil industry has performed under different presidents and evaluated the plans of this year’s candidates.

  • BIC MAGAZINE
  • August 26 @ 11:38 am

Biden says supports ethanol, hits Trump on handling of U.S. biofuel laws

Democratic presidential nominee Joe Biden threw his support behind U.S. laws that require oil refiners to blend biofuels into the nation’s fuel pool and criticized the Trump administration for its handling of the mandate.

  • BIC MAGAZINE
  • August 26 @ 11:16 am

EPA has not decided on biofuel mandates, refinery exemptions

The Environmental Protection Agency has not made a decision on U.S. biofuel blending requirements for 2021 or on petitions from refiners asking to be exempted from past-year requirements going back to 2011.

  • BIC MAGAZINE
  • August 26 @ 11:02 am

EPA has not decided on biofuel mandates, refinery exemptionsefinery exemptions

The Environmental Protection Agency has not made a decision on U.S. biofuel blending requirements for 2021 or on petitions from refiners asking to be exempted from past-year requirements going back to 2011.

  • BIC MAGAZINE
  • August 26 @ 11:02 am

TCEQ to request rule suspension

This rule suspension will be targeted towards any rules that rules could prevent, hinder or delay necessary action in coping with Hurricane Laura.

  • BIC MAGAZINE
  • August 26 @ 9:59 am

U.S. resumes oil and gas auctions with major New Mexico sale

The Trump administration will resume its oil and gas leasing program on Wednesday with a large sale of acreage in three states, ending a five-month pause due to the coronavirus pandemic and a crash in oil prices.

  • BIC MAGAZINE
  • August 26 @ 9:48 am

Executives request Trump back small refineries on relief

Executives of 16 U.S. refiners have asked President Donald Trump to side with small refineries on pending petitions for small refinery hardship relief under the Renewable Fuel Standard (RFS) in conversations with the Environmental Protection Agency.

  • BIC MAGAZINE
  • August 25 @ 9:44 am

Oil prices rise on storm-driven output cuts, COVID-19 weighs

Crude oil prices rose on Tuesday, supported by production cuts in the U.S. Gulf Coast as Tropical Storm Laura was forecast to become a major hurricane.

  • BIC MAGAZINE
  • August 25 @ 9:16 am

Motiva to shut largest U.S. refinery on Tuesday ahead of storms

Motiva Enterprises plans to completely shut the largest U.S. crude oil refinery on Tuesday because of the threat of heavy rain from Tropical Storms Marco and Laura.

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  • August 25 @ 8:47 am

In the first half of 2020, about 5 Bcf/d of natural gas pipeline capacity entered service

Between January and early July 2020, approximately 5 billion cubic feet per day of new pipeline capacity entered service in the United States.

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  • August 25 @ 8:40 am

ExxonMobil: Better methane regulatory approach needed

There has been a strong regulatory reform effort over the last few years in the U.S. that has spurred investment and economic growth.

  • BIC MAGAZINE
  • August 24 @ 12:51 pm

Oil gains on storm-hit U.S. output and COVID-19 treatment hopes

Crude oil prices rose on Monday as storms closed in on the Gulf of Mexico, shutting more than half its oil production, and on signs of progress in the development of a COVID-19 treatment.

  • BIC MAGAZINE
  • August 24 @ 9:49 am

Rystad Energy: Even at $40 WTI, more North American E&Ps will need Chapter 11 protection

The Covid-19 pandemic has added severe financial strain on a North American upstream industry that was already reeling under billions of dollars of debt.

  • BIC MAGAZINE
  • August 21 @ 12:52 pm

Pennsylvania fines Sunoco Mariner East 2 NGL pipe for spills again

The $355,636 fine assessed Thursday for violations in 2018 and 2019 was just the latest in a long series of sanctions against the company for spills and other violations of its construction permits.

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  • August 21 @ 11:17 am

PU: U.S. petrochemical plants see higher polyethylene demand and prices four months into pandemic

Polyethylene prices saw in July gains for two consecutive months with additional price increases sought for August.

  • BIC MAGAZINE
  • August 21 @ 7:47 am

OPEC+ needs to fix daily oversupply of more than two million barrels

Some members of the OPEC+ group of oil-producing nations would need to slash output by an extra 2.31 million barrels per day (bpd) to make up for their recent oversupply, an internal OPEC+ report seen by Reuters shows.

  • BIC MAGAZINE
  • August 20 @ 11:05 am

Oil falls on caution over demand recovery

Oil prices fell on Thursday on demand concerns driven by cautious views from OPEC+ producers and the U.S. Federal Reserve regarding economic recovery from the coronavirus pandemic.

  • BIC MAGAZINE
  • August 20 @ 11:03 am

GE signs power agreements worth over $1.2 billion with Iraq

General Electric Co. signed two new agreements valued at over $1.2 billion with the Iraqi Ministry of Electricity, to undertake maintenance programs across key power plants in the country and bolster its transmission network.

  • BIC MAGAZINE
  • August 20 @ 11:01 am

California power outages are a canary in the mine

Wind and solar generators are more problematic because their output is determined by external factors (time of day, season and weather conditions) and they are not responsive to the needs of the grid.

  • BIC MAGAZINE
  • August 20 @ 10:50 am

PU: Braskem, Mexico hold talks on ethane as bribing probes take center stage

Pemex’s ethane output plunged since Braskem-Idesa started operations, slashing ethane deliveries and accumulating contractual fines that Braskem wants to collect.

  • BIC MAGAZINE
  • August 20 @ 8:34 am

Early 2020 data show U.S. biodiesel production levels largely unchanged since 2019

U.S. biodiesel production has seen smaller reductions in recent months compared with other transportation fuels, according to the U.S. Energy Information Administration’s (EIA) Petroleum Supply Monthly.

  • BIC MAGAZINE
  • August 20 @ 7:00 am

OPEC+ meets to review compliance with oil cuts

OPEC oil producers and allies such as Russia, a grouping dubbed OPEC+, meets on Wednesday to review compliance with oil cuts meant to support oil prices amid the coronavirus pandemic.

  • BIC MAGAZINE
  • August 19 @ 11:10 am

API: Majority of battleground state voters support U.S. energy leadership

The American Petroleum Institute released new polling showing two-thirds of voters in key battleground and other states would be more likely to vote for candidates who support access to natural gas and oil produced in the U.S

  • BIC MAGAZINE
  • August 19 @ 10:13 am

Alfa says its Newpek unit has sold all its Texas shale assets

Mexican conglomerate Alfa has announced that its Newpek unit has divested all of its Texas assets

  • BIC MAGAZINE
  • August 19 @ 10:08 am

BHP plans sale of Australian Bass Strait oil and gas stake

BHP Group said on Tuesday it plans to sell its 50% stake in the Australian Bass Strait oil and gas venture as it seeks to focus on its higher-value petroleum assets.

  • BIC MAGAZINE
  • August 19 @ 10:01 am

U.S. weighs more sanctions on Venezuela to halt fuel deals: Bloomberg

The administration of U.S. President Donald Trump is weighing additional sanctions on Venezuela aimed at halting the remaining fuel transactions permitted with the Latin American country

  • BIC MAGAZINE
  • August 19 @ 9:53 am

Cabot invests $90 million in Ville Platte, La., plant

Cabot Corp. will make a $90 million capital investment to enhance the performance of its plant in Ville Platte, Louisiana.

  • BIC MAGAZINE
  • August 18 @ 11:32 am

Wood Mac: O&G markets brace for impact of pandemic’s second wave

The coronavirus pandemic has already had far-reaching consequences for global energy demand.

  • BIC MAGAZINE
  • August 18 @ 10:34 am

Trump administration finalizes oil drilling plan in Alaska wildlife refuge

The Trump administration finalized a plan to allow oil and gas drilling in Alaska’s Arctic National Wildlife Refuge

  • BIC MAGAZINE
  • August 18 @ 10:21 am

Oil holds gains made on high OPEC+ compliance

Oil prices were broadly steady, hanging on to gains from the previous session thanks to high compliance with production cuts from members of the OPEC+ producer group.

  • BIC MAGAZINE
  • August 18 @ 9:19 am

In the run-up to U.S. election, drilling lobby promotes natural gas as ‘clean’

America’s biggest oil and gas lobby group is ramping up its advertising spending ahead of the November election to persuade voters that natural gas is a climate-friendly fuel.

  • BIC MAGAZINE
  • August 18 @ 9:14 am

U.S. coal stockpiles steadily increase after reaching lowest level in a decade in 2019

After reaching their lowest level in more than a decade in March 2019, U.S. coal stockpiles steadily increased to 152 million tons in April 2020, recovering to levels not seen in three years.

  • BIC MAGAZINE
  • August 17 @ 12:39 pm

Oil edges lower on rising virus cases, U.S-China tensions

Oil prices edged lower on Monday on rising coronavirus cases particularly in Europe and tensions between major consumers China and the United States, although China’s plans to increase U.S. crude imports curbed the losses.

  • BIC MAGAZINE
  • August 17 @ 9:03 am

Shale driller Chaparral Energy files for bankruptcy due to pandemic woes

Oklahoma oil and gas producer Chaparral Energy Inc filed for Chapter 11 bankruptcy protection on Sunday, the latest U.S. energy sector casualty in recent months as the coronavirus pandemic crushes oil prices to unsustainable levels.

  • BIC MAGAZINE
  • August 17 @ 8:40 am

Plaquemines Port announces signing of LOI to develop container terminal in Plaquemines Parish

An exclusive Letter of Intent leading to development of a multi-modal, was recently signed by Plaquemines Port Harbor and Terminal District (PPHTD) and several potential partners.

  • BIC MAGAZINE
  • August 14 @ 12:40 pm

Modified EPA methane rules support further emissions reductions

The American Petroleum Institute issued the following statement as Andrew Wheeler, administrator of the Environmental Protection Agency, is expected to sign modified methane rules during an event in Pittsburgh today.

  • BIC MAGAZINE
  • August 14 @ 10:28 am

Currency appreciation makes crude oil less expensive for some oil importers

Brent crude oil prices and the index of the value of the U.S. dollar have generally been moving in opposite directions on a daily basis during the past several months.

  • BIC MAGAZINE
  • August 14 @ 9:19 am

Shell unit shuts Philippine refinery as pandemic slashes margins

The Philippine unit of Royal Dutch Shell said on Thursday it will permanently shut one of the country’s two oil refineries, blaming a pandemic-led slump in margins, with other regional closures likely to follow.

  • BIC MAGAZINE
  • August 14 @ 9:13 am

Oil slips below $45 on demand doubts, rising supply

Oil edged further below $45 a barrel on Friday, giving up some of this week’s gain, under pressure from doubts about demand recovery due to the COVID-19 pandemic and rising supply.

  • BIC MAGAZINE
  • August 14 @ 9:08 am

As lockdowns eased in May, gasoline demand increased and jet fuel continued to fall

From April to May, U.S. product supplied of finished motor gasoline increased by 1.3 million barrels per day (b/d) to 7.2 million b/d, the largest month-over-month increase in volumetric terms in this monthly data series, which dates back to 1945.

  • BIC MAGAZINE
  • August 14 @ 6:00 am

Bold technologies for today and tomorrow

The dual challenge of meeting the world’s energy needs while lowering greenhouse gas emissions will continue long after economies restart, businesses reopen and travel resumes.

  • BIC MAGAZINE
  • August 13 @ 3:00 pm

Worley set to service Cheniere LNG’s Corpus Christi facility

Worley received a master services agreement to provide civil, structural, mechanical, I&E, HVAC and marine construction services at Cheniere LNG’s Corpus Christi liquefaction facility.

  • BIC MAGAZINE
  • August 13 @ 12:25 pm

Oil steady after IEA lowers demand forecast, U.S. stocks fall

The International Energy Agency cut its 2020 oil demand forecast on Thursday.

  • BIC MAGAZINE
  • August 13 @ 11:17 am

Trump administration to roll back curbs on methane from oil, gas operations

The Trump administration on Thursday will roll back regulations aimed at reducing emissions of the potent greenhouse gas methane from oil and gas operations.

  • BIC MAGAZINE
  • August 13 @ 11:13 am

How a Texas shale supplier’s founders made fortunes as the firm failed

The payout marked the latest in a series of board decisions that allowed the oilfield supplier’s top executives and founders to rake in tens of millions of dollars as shareholders saw the stock price plummet to pennies.

  • BIC MAGAZINE
  • August 13 @ 11:10 am

News Update: Shale August 2020

Both the Cheyenne Connector pipeline and the Rockies Express Pipeline (REX) Cheyenne Hub Enhancement Project have commenced commercial service, following FERC approval.

  • BIC MAGAZINE
  • August 13 @ 10:30 am

AkzoNobel makes waves in China with water-based renewal of major plant

As Chinese customers and consumers demand more eco-premium water-based decorative paints, AkzoNobel’s Guangzhou plant aims to deliver.

  • BIC MAGAZINE
  • August 13 @ 8:50 am

Bottom of the Barrel: Venezuela oil production close to zero

The country with the largest oil reserves in the world could soon be producing none of it, IHS Markit.

  • BIC MAGAZINE
  • August 13 @ 8:47 am

Phillips 66 plans world’s largest renewable fuels plant

The company unveiled plans to convert the San Francisco Refinery’s Rodeo facility into the world’s largest renewable fuels plant in support of growing demand for these high-value products and California’s environmental goals.

  • BIC MAGAZINE
  • August 13 @ 7:10 am

ExxonMobil and Global Clean Energy Holdings sign agreement for renewable diesel

ExxonMobil has signed an agreement with Global Clean Energy Holdings to purchase 2.5 million barrels of renewable diesel per year for five years.

  • BIC MAGAZINE
  • August 12 @ 11:52 am

Oil companies start to take back crude from U.S. emergency reserve

Energy companies have begun taking back millions of barrels of oil from the U.S. government’s emergency stockpile after renting storage in the facility to help manage a glut of crude this spring after energy demand collapsed during COVID-19 lockdowns

  • BIC MAGAZINE
  • August 12 @ 9:20 am

GlobalData: Marathon to drive break-even prices as low as $30/bbl in Bakken, Eagle Ford

Marathon Oil’s net loss of $750MM in Q2 2020 was well anticipated due to the drop in oil prices and the current economic crisis that impacted domestic demand.

  • BIC MAGAZINE
  • August 12 @ 9:05 am

U.S. permits for new horizontal drilling dip to 10-year low

U.S. horizontal drilling activity in oil basins, which has plummeted due to the Covid-19 pandemic, is not likely to materially recover this year, reported Rystad Energy.

  • BIC MAGAZINE
  • August 12 @ 9:00 am

Judge gives U.S. three weeks to detail Dakota Access pipeline options

A federal judge on Monday ordered the U.S. Army Corps of Engineers (ACE) to detail options by the end of the month for resolving the loss of a permit that allows the Dakota Access crude oil pipeline to operate on U.S. land.

  • BIC MAGAZINE
  • August 11 @ 10:24 am

U.S. refiners’ biofuel bills soar in oil market slump

U.S. oil refiners this quarter are expected to spend the most since at least 2018 to meet U.S. biofuels requirements, further pressuring margins hit by the collapse since March in global prices and demand.

  • BIC MAGAZINE
  • August 11 @ 10:10 am

Oil and gas pipelines are clogged, at least for now

Issuing a nationwide injunction against its use for constructing oil and gas pipelines, the judge has effectively halted new construction of those pipelines and sparked a renewed discussion about the propriety of issuing such injunctions.

  • BIC MAGAZINE
  • August 10 @ 12:08 pm

BP’s green energy targets will be tough to meet

BP will need to invest tens of billions of dollars over the next decade and may have to accept lower returns than it can get from oil if it is to meet its target of becoming one of the world’s largest renewable power generators.

  • BIC MAGAZINE
  • August 10 @ 11:26 am

PKN to ask for EU approval for PGNiG merger this year

Poland’s biggest oil refiner PKN Orlen this year will seek European Commission approval for its planned takeover of gas company PGNiG

  • BIC MAGAZINE
  • August 10 @ 10:53 am

Duke takes $1.6B charge to exit Atlantic Coast pipeline

Duke Energy Corp. took a $1.6-billion after-tax charge in the second quarter for the cancellation of the Atlantic Coast natural gas pipeline from West Virginia to North Carolina.

  • BIC MAGAZINE
  • August 10 @ 10:19 am

U.S. prosecutors charge former Citgo executive in bribery probe

U.S. prosecutors charged a former Citgo Petroleum manager with accepting $2.5 million as part of a scheme to bribe officials with the U.S. refiner and its Venezuelan parent to win business contracts.

  • BIC MAGAZINE
  • August 7 @ 8:35 am

U.S. court allows Dakota Access oil pipeline to stay open, but permit status unclear

US court rules Dakota Access Pipeline can stay open for now.

  • BIC MAGAZINE
  • August 6 @ 2:54 pm

PU: Covid-19 impact to hike turnaround contractor costs in 2021, 2022

Availability became plentiful immediately after the pandemic hit in 2020 due to multiple turnaround and construction postponement turning the contractor business into a buyer’s market. Yet the delays may lead to a bottleneck into the coming years.

  • BIC MAGAZINE
  • August 6 @ 11:38 am

Gasoline and diesel refining margins that diverged in March have moved closer together

U.S. gasoline and diesel crack spreads diverged sharply in March and April as a result of the mitigation efforts aimed at slowing the spread of the 2019 novel coronavirus disease (COVID-19), but they have moved closer since May.

  • BIC MAGAZINE
  • August 6 @ 11:07 am

U.S. refining capacity poised for first big drop in nearly a decade

U.S. oil refining capacity this year could decline by the largest amount in nearly a decade as pandemic-related travel curbs and a fire shut several plants, reversing years of small gains.

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  • August 6 @ 7:00 am

Shell Deer Park, Texas, refinery restarting large crude unit

Shell plans to begin restarting the small CDU at the Deer Park refinery later this week.

  • BIC MAGAZINE
  • August 5 @ 9:54 am

Continental to resume some U.S. shale output but sees sector lackluster unless oil prices rise

U.S. shale oil producer Continental Resources said it plans to resume most curtailed production, adding prices need to rise further for a significant rebound in overall industry activity.

  • BIC MAGAZINE
  • August 5 @ 9:46 am

Oil edges up to highest since March on hopes for U.S. stimulus

Brent oil futures on Tuesday closed at their highest since early March on hopes the United States is making progress on a new economic stimulus package, as well as curbing the coronavirus spread.

  • BIC MAGAZINE
  • August 5 @ 9:37 am

U.S. Energy Department recommends granting partial retroactive waivers to refiners

The U.S. Department of Energy has recommended that some of the oil refiners that applied for retroactive exemptions from the nation’s biofuel blending law be granted partial relief.

  • BIC MAGAZINE
  • August 5 @ 9:20 am

Illinois is a top energy consumer and producer in the Midwest

The industrial sector consumed more energy in Illinois in 2018 than any other sector, and it accounted for nearly 30% of the total energy consumed in the state in that year.

  • BIC MAGAZINE
  • August 4 @ 11:23 am

BP releases strategy to cut fossil fuels output by 40% by 2030

BP will increase its low-carbon spending to $5 billion a year by 2030 and boost its renewable power generation to 50 gigawatts (GW) while shrinking oil and gas output by 40% compared with 2019.

  • BIC MAGAZINE
  • August 4 @ 10:53 am

Oil falls as rising virus cases overshadow demand recovery

Oil prices eased on Tuesday on concerns that a fresh wave of COVID-19 infections will hamper a global demand recovery just as major producers ramp up output.

  • BIC MAGAZINE
  • August 4 @ 10:28 am

Marathon Petroleum sells Speedway to 7-Eleven owner for $21B

Marathon Petroleum has agreed to sell its Speedway gas stations in the United States to Japanese retail group Seven & i Holdings for $21 billion.

  • BIC MAGAZINE
  • August 3 @ 9:15 am

Marathon Petroleum to permanently close two U.S. oil refineries

The largest U.S. refiner by volume had earlier idled the two facilities following weak demand due to COVID-19 outbreaks in the United States.

  • BIC MAGAZINE
  • August 3 @ 9:08 am

ConocoPhillips to reverse most output cuts by end of third quarter

ConocoPhillips said on Thursday it expects production curtailments in the current quarter to be roughly half as much as last quarter and will restore most of its output by the end of September.

  • BIC MAGAZINE
  • July 31 @ 10:09 am

Oil set for fragile recovery as economies limp towards normal

Oil prices are set for a slow crawl upwards this year as the gradual easing of coronavirus-led restrictions buoy demand, although a second COVID-19 wave could slow the pace of recovery.

  • BIC MAGAZINE
  • July 31 @ 10:01 am

Chevron posts $8.3B 2Q loss on write downs, job cuts

Chevron Corp. reported an $8.3 billion loss in the second quarter on asset writedowns from plummeting fuel prices, a forced exit from Venezuela and expenses tied to thousands of jobs cuts.

  • BIC MAGAZINE
  • July 31 @ 9:50 am

TC Energy announces $0.4B Elwood Power/ANR Horsepower replacement project

Under a long-term agreement, ANR would provide up to 125,000 Dth/d of firm transportation service to an existing power plant.

  • BIC MAGAZINE
  • July 31 @ 7:00 am

A closer look at the Bakken/Three Forks Shale Play

Below is our outlook for the region’s production and spending, followed by a summary of the latest activity, well configuration and productivity trends.

  • BIC MAGAZINE
  • July 30 @ 7:30 pm

Total writes off $9.3B in oilsands assets, cancels Canadian oil lobby membership

French energy giant Total says it is writing off $9.3-billion (US$7 billion) worth of oilsands assets in Alberta and cancelling its membership in the Calgary-based Canadian Association of Petroleum Producers.

  • BIC MAGAZINE
  • July 30 @ 10:56 am

Shell CEO: Oil demand may never recover from COVID-19 crisis

Global oil demand might never return to levels seen before the outbreak of the COVID-19 epidemic.

  • BIC MAGAZINE
  • July 30 @ 10:44 am

Valero posts smaller loss than feared as demand rebounds

Independent U.S. refiner Valero Energy Corp. reported a smaller-than-expected quarterly loss, adding that it saw “a rapid recovery” in demand for its products as the quarter progressed.

  • BIC MAGAZINE
  • July 30 @ 10:31 am

Reliance profit rises on BP deal gain; revenue slides 44% on oil hit

Reliance Industries Ltd’s June-quarter profit jumped 31%, as the Indian conglomerate booked a substantial one-time gain from global oil major BP’s investment in its fuel retail business.

  • BIC MAGAZINE
  • July 30 @ 10:23 am

Oil down nearly 4% as virus surge weighs on demand outlook

Oil prices fell by around 4 percent on Thursday, as surging coronavirus infections around the world threatened to jeopardize a recovery in fuel demand just as major oil producers are set to raise output.

  • BIC MAGAZINE
  • July 30 @ 10:16 am

Permian gas output will rise, but flaring could increase if COVID-19 delays new pipelines

Gas output from the Permian Basin is expected to rebound relatively quickly in the second half of 2020 and will remain robust for years to come, Rystad Energy projects.

  • BIC MAGAZINE
  • July 29 @ 11:59 am

Permian gas output will rise, but flaring could increase in COVID-19 delays new pipelines

Gas output from the Permian Basin is expected to rebound relatively quickly in the second half of 2020 and will remain robust for years to come, Rystad Energy projects.

  • BIC MAGAZINE
  • July 29 @ 11:59 am

Pipeline doubts put Bakken shale reboot on hold

North Dakota oil producers face new pressures to delay bringing back more of their recently curbed output after a U.S. court ruling this month put in jeopardy the pipeline that transports most of the region’s oil, executives and analysts said.

  • BIC MAGAZINE
  • July 29 @ 10:44 am

Enbridge beats profit estimates, sees improving Mainline oil volumes

Enbridge Inc. posted a quarterly profit slightly higher than analysts’ estimates and said it sees volumes growing across the Mainline, North America’s biggest oil pipeline network.

  • BIC MAGAZINE
  • July 29 @ 10:37 am

Record U.S. LNG output jump lifts exports in weak market

A sharp increase in U.S. liquefied natural gas (LNG) output in the past year has protected the country’s status as the world’s third-largest exporter of the chilled fuel, despite multiple cargo cancellations this summer.

  • BIC MAGAZINE
  • July 29 @ 10:31 am

Oil prices jump on U.S. inventory drop

Oil prices rose on Wednesday after a surprise drop in U.S. crude inventories, though gains were capped by demand concerns after record increases in COVID-19 infections in some U.S. states.

  • BIC MAGAZINE
  • July 29 @ 10:16 am

EIA: U.S. energy consumption fell to its lowest level in more than 30 years

Energy consumption in April 2020 was 14% lower than in April 2019, the largest year-over-year decrease in EIA’s monthly total energy consumption, a data series that dates back to 1973.

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  • July 29 @ 9:19 am

EIA: 2019 U.S. coal production falls to its lowest level since 1978

Wyoming produces more coal than any other state, representing 39% of U.S. coal production in 2019, at 277 MMst, which is 9% lower than its coal production in 2018.

  • BIC MAGAZINE
  • July 28 @ 4:04 pm

End game for oil? OPEC prepares for an age of dwindling demand

The coronavirus crisis may have triggered the long-anticipated tipping point in oil demand and it is focusing minds in OPEC.

  • BIC MAGAZINE
  • July 28 @ 11:03 am

BASF calculates CO2 footprint of all sales products

BASF as the first chemical company with transparent emission data for the entire portfolio of approximately 45,000 products.

  • BIC MAGAZINE
  • July 28 @ 10:59 am

Chevron says expects to restart Train 2 of Gorgon LNG plant in early September

Chevron Corp. expects to restart Train 2 of its Gorgon liquefied natural gas (LNG) plant in Australia in early September after completing repairs.

  • BIC MAGAZINE
  • July 28 @ 10:50 am

Oil rises on hopes for U.S. stimulus measure

Oil prices rose on hopes that stimulus efforts will help revitalize the U.S. economy, but the gains were capped by rising coronavirus cases and tensions between Washington and Beijing.

  • BIC MAGAZINE
  • July 28 @ 9:51 am

Nord Stream gas pipeline returns to operations after maintenance

The Nord Stream gas pipeline, which runs on the bed of the Baltic Sea from Russia to Germany, has returned to operations on Sunday after a routine maintenance.

  • BIC MAGAZINE
  • July 27 @ 10:44 am

Oil up on strong economic data; U.S.-China tensions cap gains

Oil prices rose on Friday, lifted by some supportive economic data, but tensions between the United States and China limited gains.

  • BIC MAGAZINE
  • July 24 @ 4:02 pm

U.S. oil rig count rises for first week since March

The U.S. oil and gas rig count, an early indicator of future output, fell by two to an all-time low of 251 in the week to July 24, according to data on Friday from energy services firm Baker Hughes Co going back to 1940.

  • BIC MAGAZINE
  • July 24 @ 3:22 pm

Brazil’s Petrobras kicks off tender to build three FPSOs in deepwater Buzios field

Brazilian state-controlled oil company Petrobras said on Friday it has approved the start of a tender to build three new floating platforms, known as FPSOs, in the Buzios oilfield, one of the biggest deepwater discoveries this century.

  • BIC MAGAZINE
  • July 24 @ 12:10 pm

Schlumberger eyes deeper cost cuts as oil rout triggers $3.7 billion charge

Oilfield services giant Schlumberger NV on Friday outlined plans for deeper spending cuts after recording a $3.7 billion charge and a second straight quarterly loss on thousands of job cuts and a pipeline outage in Ecuador.

  • BIC MAGAZINE
  • July 24 @ 10:50 am

Oil falls on coronavirus demand concerns, weak U.S. jobs numbers

Oil prices fell 2% on Thursday as investors worried the U.S. Congress may not agree on a stimulus package and as jobless numbers rose, while analysts prepared to cut energy demand forecasts as the number of coronavirus cases surges higher.

  • BIC MAGAZINE
  • July 23 @ 3:37 pm

U.S. refiners trim crude processing as recovery falters

U.S. refiners dialled back crude processing for a second week running, responding to lower consumption of all three major fuels.

  • BIC MAGAZINE
  • July 23 @ 2:49 pm

Colorado ranks seventh among states with the most energy production

The U.S. Energy Information Administration’s (EIA) latest State Energy Data System (SEDS) update shows Colorado ranked seventh in energy production within a state in 2018.

  • BIC MAGAZINE
  • July 23 @ 11:00 am

WoodMac: Chevron’s swoop on Noble ‘first major deal of the downturn’

Speaking this morning after Chevron announced plans to buy Noble Energy in a US$13 billion all-stock transaction, including US$5 billion in equity.

  • BIC MAGAZINE
  • July 23 @ 8:00 am

Hydrocarbon gas liquids spot prices are generally bound by crude oil and natural gas

The combination of rapidly declining crude oil prices in March 2020 and relatively flat (and historically low) natural gas prices compressed hydrocarbon gas liquids (HGL) spot prices into a narrow price band from mid-March through the end of April.

  • BIC MAGAZINE
  • July 22 @ 2:50 pm

Oil falls as U.S. posts surprise rise in crude inventories

Oil prices fell on Wednesday as U.S. government data showed a surprise rise in U.S. crude inventories, and as tensions escalated between the United States and China.

  • BIC MAGAZINE
  • July 22 @ 2:13 pm

Baker Hughes posts second quarterly loss as oil slump slams demand

Baker Hughes Co posted its second consecutive quarterly loss on Wednesday and said it would continue reining in costs to prepare for a longer period of oil price volatility.

  • BIC MAGAZINE
  • July 22 @ 1:23 pm

New Mexico proposes crackdown on oil and gas industry’s methane emissions

New Mexico this week proposed rules that would require its oil and gas industry to capture at least 98% of its emissions of the powerful greenhouse gas methane by 2026, a standard it said would be among the strongest in the nation.

  • BIC MAGAZINE
  • July 22 @ 12:49 pm

GlobalData: Halliburton turns to cloud-based analytics and digital technologies as oil struggles to rebound

Halliburton has been hardest hit in its North and Latin American (LATAM) markets, which represented a 53% decline in revenue over Q1 – compared to the company’s international market, which only saw a 13% revenue decline.

  • BIC MAGAZINE
  • July 22 @ 8:00 am

Celanese to sell polyplastics JV for $1.575B

Celanese has been investing in and rapidly growing business in Engineered Materials globally over the last 10 years.

  • BIC MAGAZINE
  • July 21 @ 4:09 pm

Celanese unlocks shareholder value through monetization of Polyplastics joint venture; Engineered Materials well-po

Celanese has been investing in and rapidly growing our base business in Engineered Materials globally over the last 10 years.

  • BIC MAGAZINE
  • July 21 @ 4:09 pm

Snam and Baker Hughes test first hydrogen hybrid turbine for gas transportation

Snam and oilfield service giant Baker Hughes Co have successfully completed tests for a “hybrid” turbine that will allow transportation pipelines to carry hydrogen along with natural gas.

  • BIC MAGAZINE
  • July 21 @ 2:21 pm

Buyers of U.S. LNG cancel September cargoes but pace slows

Buyers of liquefied natural gas (LNG) from the United States continued scrapping September loadings due to weak global gas demand but fewer cargos were cancelled than for the two previous months.

  • BIC MAGAZINE
  • July 21 @ 1:36 pm

Chevron’s $5 billion deal for Noble ends deal drought, sets price benchmark

Chevron Corp’s surprise $5 billion all-stock deal for oil producer Noble Energy should spell the end of this year’s deal drought, setting a price benchmark that will trigger more buys.

  • BIC MAGAZINE
  • July 21 @ 1:19 pm

Canada’s Hibernia shuts oil platform production

The Hibernia oil platform in Canada was shut after a discharge of drilling and production fluids.

  • BIC MAGAZINE
  • July 21 @ 12:41 pm

Chevron CEO sees continued ‘choppy economic and price activity’

The chief executive of U.S. oil giant Chevron Corp on Monday said the uncertainty of the COVID-19 pandemic has it planning for “choppy” oil prices and economic activity globally.

  • BIC MAGAZINE
  • July 21 @ 12:22 pm

GlobalData: Chevron’s Noble Energy acquisition bets on future natural gas demand and more geographic diversity

Since the crash of oil price and demand in March 2020, there has been an increasing expectation for mergers and acquisition (M&A) activity to show existing opportunities despite the depressed economic cycle.

  • BIC MAGAZINE
  • July 21 @ 10:00 am

Pirates kidnap seven Russian sailors in Gulf of Guinea

Pirates have kidnapped seven Russian sailors from the crew of a ship in the Gulf of Guinea.

  • BIC MAGAZINE
  • July 20 @ 3:00 pm

Hedge funds stick to the sidelines on oil

Hedge fund position-taking in crude and products remains desultory as uncertainty about the future direction of prices and the course of the coronavirus pandemic compounds the normal summer-time trading slowdown.

  • BIC MAGAZINE
  • July 20 @ 1:31 pm

BP puts crude oil traders on leave pending investigations into China dealings

BP has put four traders responsible for Chinese crude oil sales on temporary leave as it conducts internal investigations into trades with Singapore’s Hontop Energy.

  • BIC MAGAZINE
  • July 20 @ 1:15 pm

EIA forecasts U.S. petroleum demand will remain below 2019 levels for several more months

Consumption of U.S. liquid fuels fell in March and April 2020 as a result of reduced travel related to COVID-19 and its mitigation measures.

  • BIC MAGAZINE
  • July 20 @ 10:48 am

Chevron to buy Noble in biggest U.S. energy deal since oil crash

Chevron Corp said on Monday it would buy Noble Energy Inc for about $5 billion, in the biggest U.S. energy deal since the coronavirus crisis crushed global demand for oil and sent crude prices to historic lows.

  • BIC MAGAZINE
  • July 20 @ 9:45 am

GlobalData: Excess of crude supply already suppressed from US market

The US oil market has already suppressed the excess of supply that was created at the end of March.

  • BIC MAGAZINE
  • July 20 @ 8:00 am

U.S. gives Delfin another year to build Louisiana floating LNG project

U.S. energy regulators granted Delfin LNG a second one-year extension until September 2021 to complete its proposed floating liquefied natural gas export facility off the coast of Louisiana.

  • BIC MAGAZINE
  • July 17 @ 12:02 pm

Galveston LNG Bunker Port proposed for Pelican Island

The Galveston LNG Bunker Port would be located in one of the largest port complexes in the U.S., compromising the ports of Houston, Texas City and Galveston.

  • BIC MAGAZINE
  • July 17 @ 11:38 am

China refinery output hits record high in June as demand recovers further

China’s daily crude oil throughput in June surged to the highest level on record, official data showed, as refiners ramped up processing on healthy margins and a recovery in demand for gasoline and diesel.

  • BIC MAGAZINE
  • July 17 @ 10:37 am

Reliance’s $15 billion stake sale deal with Aramco delayed

Reliance Industries’ plans to sell 20% stake in its oil-to-chemical business to Saudi Aramco is delayed.

  • BIC MAGAZINE
  • July 17 @ 9:00 am

Buckeye loads first vessel at new South Texas Gateway Terminal in the Port of Corpus Christi

The Port of Corpus Christi is proud to recognize Buckeye Partners L.P. for achieving a historic milestone in its South Texas Gateway (STG) Terminal project.

  • BIC MAGAZINE
  • July 17 @ 8:30 am

GlobalData: Mexico to remain highly dependent on natural gas imports from the US

Even during the current COVID-19 crisis of lower economic activity, natural gas imports from Mexico have remained at levels of around 5,300 mmcfd during the first quarter of 2020.

  • BIC MAGAZINE
  • July 16 @ 10:51 am

Enterprise co-loads export vessels at Houston Ship Channel terminals in industry first

Enterprise Products Partners L.P. today announced that it has successfully loaded combination cargoes of natural gas liquids (“NGL”) and Olefins on the same vessel.

  • BIC MAGAZINE
  • July 16 @ 9:50 am

Clean Energy stimulus could create 860,000 U.S. jobs, add $330 billion to GDP

More than half a million clean energy workers (514,200) filed for unemployment between March and June, according to separate analyses for E2 and E4TheFuture.

  • BIC MAGAZINE
  • July 16 @ 8:30 am

GlobalData: Global ammonia industry shows signs of resilience despite COVID-19 impact

The global demand growth of ammonia is expected to remain sluggish between 2020 and 2030 due to a COVID-19 led reduction in economic activities in addition to flattening population growth.

  • BIC MAGAZINE
  • July 16 @ 8:00 am

Air Liquide signs long-term supply agreement with Steel Dynamics, Inc.

Air Liquide has signed a long-term agreement with Steel Dynamics, Inc., one of the largest steel producers and metals recyclers in the United States.

  • BIC MAGAZINE
  • July 15 @ 4:43 pm

Air Liquide signs long-term supply agreement with Steel Dynamics, Inc. in the U.S.

Air Liquide has signed a long-term agreement with Steel Dynamics, Inc. (SDI), one of the largest steel producers and metals recyclers in the United States.

  • BIC MAGAZINE
  • July 15 @ 4:43 pm

OPEC+ eases record oil cuts as economy recovers from pandemic

OPEC and allies such as Russia agreed on Wednesday to ease record oil supply curbs from August as the global economy slowly recovers from the coronavirus pandemic but said a second wave of the virus could complicate rebalancing in the market.

  • BIC MAGAZINE
  • July 15 @ 3:53 pm

Dakota Access pipeline can keep running amid legal fight

The Dakota Access oil pipeline can continue to operate amid an ongoing court battle, a U.S. Appeals Court said on Tuesday, setting aside for now a lower court’s order earlier this month to shut and empty the line.

  • BIC MAGAZINE
  • July 15 @ 2:25 pm

Oil climbs on U.S. stock draw but gains capped as OPEC+ set to ease cuts

Prices were boosted after data from the Energy Information Administration showed U.S. crude inventories fell 7.5 million barrels last week, compared with analysts’ expectations in a Reuters poll for a 2.1 million-barrel drop.

  • BIC MAGAZINE
  • July 15 @ 1:34 pm

COVID-19 mitigation has delayed construction of some electric generators

COVID-19 mitigation efforts have resulted in slightly more delays than average in the commercial operation dates of proposed electric generator projects.

  • BIC MAGAZINE
  • July 15 @ 9:34 am

Oil diplomacy and the U.S. presidential election

Slower growth in petroleum consumption has intensified competition among the major oil producers and contributed to periodic volume wars and price slumps as they have fought for market share.

  • BIC MAGAZINE
  • July 14 @ 1:31 pm

U.S. Army Corps of Engineers to appeal Dakota Access shutdown

The U.S. Army Corps of Engineers said on Monday it would appeal a federal judge’s decision to shut down the Dakota Access oil pipeline, bringing the Trump administration into a fight already being waged by the owners of the pipeline.

  • BIC MAGAZINE
  • July 14 @ 12:29 pm

U.S. crude oil and natural gas production in April had biggest monthly decreases in years

Production of crude oil and natural gas decreased in the United States in April 2020 by 670,000 barrels per day (b/d) and 2.6 billion cubic feet per day (Bcf/d), respectively.

  • BIC MAGAZINE
  • July 14 @ 11:40 am

Rystad Energy: Oil and gas drilling set for at least a 20-year low in 2020, unlikely to recover to 2019 levels soon

The COVID-19 pandemic has stymied oil and gas activity, a phenomena which has now affected the drilling market both in terms of wells drilled and in terms of related demand for drilling equipment.

  • BIC MAGAZINE
  • July 14 @ 10:59 am

Louisiana to use smart port with Port of New Orleans, Water Institute of the Gulf

The Water Institute of the Gulf will guide technical solutions for the project, with the Port of New Orleans providing seed funding and serving as the pilot port for the project.

  • BIC MAGAZINE
  • July 13 @ 4:21 pm

Rystad Energy: If DAPL pipeline shuts down, hundreds of thousands of US oil barrels will lack an exit route in 2020

A US district court has ruled that the largest outbound Bakken pipeline – the Dakota Access Pipeline or DAPL – shall be emptied within 30 days.

  • BIC MAGAZINE
  • July 13 @ 4:08 pm

End of an era? Series of U.S. setbacks bodes ill for big oil, gas pipeline projects

A rapid-fire succession of setbacks for big energy pipelines in the United States this week has revealed an uncomfortable truth for the oil and gas industry.

  • BIC MAGAZINE
  • July 13 @ 3:02 pm

U.S. natgas output rises after W.Va. Mountaineer pipe returns

U.S. natural gas production rose over the weekend after TC Energy Corp’s Mountaineer Xpress pipeline in West Virginia returned to service following unplanned work.

  • BIC MAGAZINE
  • July 13 @ 1:27 pm

Oil steady despite surge in COVID-19 infections

Oil prices were little changed on Monday after falling earlier as a record daily rise in global coronavirus cases boosted concerns that demand could fall again, while a producer meeting this week was expected to recommend an increase in output.

  • BIC MAGAZINE
  • July 13 @ 12:52 pm

Oil Search to write off some PNG exploration assets, power project

Oil Search Ltd said on Monday it plans to write off around $380 million, mostly on some exploration assets and a gas-to-power project in Papua New Guinea, due to the outlook for oil and gas prices and the shut down of a gold mine.

  • BIC MAGAZINE
  • July 13 @ 11:52 am

Coronavirus bringing record $1 trillion of new global corporate debt in 2020

Companies around the world will take on as much as $1 trillion of new debt in 2020, as they try to shore up their finances against the coronavirus, a new study of 900 top firms has estimated.

  • BIC MAGAZINE
  • July 13 @ 11:41 am

U.S. Henry Hub natural gas spot prices reached record lows in the first half of 2020

In the first half of 2020, natural gas prices at the U.S. Henry Hub benchmark reached record lows. The average monthly Henry Hub spot price in the first six months of the year was $1.81 per million British thermal units (MMBtu).

  • BIC MAGAZINE
  • July 13 @ 10:11 am

ICIS announces it has acquired Chemical Data

ICIS, part of RELX, today announced it has acquired Chemical Data, LLC (CDI), a leading provider of US petrochemical price benchmarks, market analysis, and predictive analytics, based in Houston.

  • BIC MAGAZINE
  • July 13 @ 9:27 am

In 2019, the United States produced and consumed record volumes of natural gas

Natural gas is one of the main sources of energy in the United States. In 2019, U.S. production of dry natural gas increased to almost 34 trillion cubic feet (Tcf) and consumption increased to 31 Tcf—both values were records.

  • BIC MAGAZINE
  • July 10 @ 12:13 pm

Oil steadies on resurgence of virus cases

Oil prices steadied on Friday but were still set for weekly declines as inventories rose and record-breaking new coronavirus cases in the United States stoked concern about the pace of economic recovery and fuel demand.

  • BIC MAGAZINE
  • July 10 @ 11:20 am

Wave of North American oil and gas bankruptcies to continue at $40/bbl crude

A wave of oil and gas bankruptcies in North America is likely to continue this year as oil prices remain depressed and a new surge of COVID-19 cases threaten to stall any recovery in fuel demand.

  • BIC MAGAZINE
  • July 10 @ 10:50 am

Reliance and bp launch ‘Jio-bp’ partnership

Bp and Reliance Industries Limited (RIL) today announced the start of their new Indian fuels and mobility joint venture, Reliance BP Mobility Limited (RBML).

  • BIC MAGAZINE
  • July 9 @ 2:29 pm

Oil falls 3% as resurgent pandemic prompts worries about U.S. demand

Oil prices fell about 3% on Thursday as investors worried that renewed lockdowns to contain the spread of coronavirus in the United States would again sink fuel consumption.

  • BIC MAGAZINE
  • July 9 @ 12:48 pm

U.S. refiners struggle to control distillate stocks

U.S. refiners are ramping up their crude processing gradually – relying on recovering consumption to erode excess fuel inventories accumulated during the most intense period of lockdown.

  • BIC MAGAZINE
  • July 9 @ 12:07 pm

Drop in petroleum demand led to rise in crude oil inventories and low refinery utilization

April’s crude oil inventory increase is a result of refinery runs falling more quickly than crude oil supply, which is determined by domestic production and imports.

  • BIC MAGAZINE
  • July 9 @ 10:35 am

Shell weighs sale of Convent, Louisiana refinery

Royal Dutch Shell Plc is weighing the sale of its 211,146 barrel-per-day (bpd) Convent, Louisiana, refinery.

  • BIC MAGAZINE
  • July 8 @ 2:05 pm

Coronavirus ‘collateral damage’ hits U.S. rural power providers

When the coronavirus pandemic left Ron Mueller without a market for the 3,200 piglets his hog breeding operation cranks out weekly and facing huge bills, his local electricity provider offered to cut the Illinois farmer some slack.

  • BIC MAGAZINE
  • July 8 @ 1:08 pm

Manufacturing survey illustrates dangers of China-controlled metals supply dominance

According to the USGS1, China controls the market for nearly 35 precious minerals and metals that are important to the U.S. for production and manufacturing, and strategic metals like tungsten are among them.

  • BIC MAGAZINE
  • July 8 @ 12:15 pm

Cabot Corporation to invest $90MM in Louisiana, resulting in 380 construction jobs

Today, Gov. John Bel Edwards and Cabot Corporation Senior Vice President Bart Kalkstein announced Cabot will make a $90 million capital investment to enhance the performance of its plant in Ville Platte, Louisiana.

  • BIC MAGAZINE
  • July 8 @ 11:19 am

Berkshire Hathaway strikes $10B deal with Dominion Energy for natural gas assets

Warren Buffett’s Berkshire Hathaway has reached a $10 billion deal to acquire Dominion Energy’s natural gas transmission and storage business, signaling the famed investor is willing to write big checks in the middle of a raging pandemic.

  • BIC MAGAZINE
  • July 8 @ 10:59 am

U.S. Energy Dept. approves LNG exports from Oregon

The U.S. Energy Department on Monday approved the export of up to 1 billion cubic feet per day of liquefied natural gas from a proposed terminal in Oregon, a move it said would ease U.S. sales of the fuel to Asian markets.

  • BIC MAGAZINE
  • July 8 @ 9:55 am

Oil rises as economic data overshadows coronavirus worries

Oil prices edged higher on Tuesday as the U.S. government forecast higher fuel demand and lower production, overshadowing concerns that a surge in new coronavirus cases will hamper a demand recovery.

  • BIC MAGAZINE
  • July 7 @ 1:07 pm

Coronavirus pain drives Big Oil’s dash for record debt

The world’s top oil and gas companies locked in cheap borrowing rates to raise a record amount of debt in the second quarter of 2020 and boost cash reserves as a buffer against a collapse in revenues because of COVID-19.

  • BIC MAGAZINE
  • July 7 @ 12:51 pm

MOGAS Industries, Inc. acquires Watson Valve assets

MOGAS Industries, Inc. recently completed the acquisition of assets of Watson Valve, a Houston-based turn-key manufacturer of severe service valves, to include repairs and coating services.

  • BIC MAGAZINE
  • July 7 @ 8:51 am

GlobalData: Weatherford’s underperformance and financial stress leaves company highly exposed to 2020 turmoil

Weatherford International is expected to be one of the most highly impacted of the major oil field service providers as a result of COVID-19 and weak commodity prices.

  • BIC MAGAZINE
  • July 7 @ 8:30 am

U.S. Energy Secretary blames activists for big pipeline setbacks

The Dakota Access pipeline became a symbol of the environmental and indigenous rights movements in 2017 after Native American and climate groups sought to block its construction with months of protests.

  • BIC MAGAZINE
  • July 6 @ 2:15 pm

U.S. court orders Dakota Access oil pipeline to be shut, emptied

Energy Transfer’s 570,000 barrel-per-day (bpd) Dakota Access oil pipeline (DAPL) is a vital artery to transport oil out of North Dakota’s Bakken shale basin to the Midwest and Gulf Coast refineries.

  • BIC MAGAZINE
  • July 6 @ 1:57 pm

Oil little changed as tighter supply conflicts with U.S. virus cases

Oil was little changed on Monday as positive economic data supported prices, while a spike in coronavirus cases that could curb fuel demand in the United States limited gains.

  • BIC MAGAZINE
  • July 6 @ 1:36 pm

U.S. natural gas exports to Mexico set to rise with completion of the Wahalajara system

Exports of natural gas by pipeline are the largest component of U.S. natural gas trade, accounting for 40% of all U.S. gross natural gas exports in 2019.

  • BIC MAGAZINE
  • July 6 @ 11:24 am

Rystad Energy: Oil demand in 2020 could lose another 2.5 million bpd

As the number of confirmed new Covid-19 cases surges to new global highs of beyond 200,000 per day, a second wave of the pandemic is increasingly apparent in several countries – most notably in the United States.

  • BIC MAGAZINE
  • July 6 @ 10:51 am

U.S. EPA puts 2021 biofuel blending mandate proposal on hold indefinitely

The U.S. Environmental Protection Agency has put on hold indefinitely a proposal for the amount of biofuels refiners must blend into their fuel next year.

  • BIC MAGAZINE
  • July 3 @ 9:00 am

Pirates kidnap nine in attack on vessel off Nigeria

Pirates attacked an oil production vessel off Nigeria in the early hours of Thursday and kidnapped nine Nigerian nationals.

  • BIC MAGAZINE
  • July 3 @ 8:30 am

Sweeter, lighter, cheaper: refiners seek oil to meet rising gasoline demand

With more cars taking to the roads as coronavirus lockdowns ease, demand for lighter, sweeter oil more suitable for refining into gasoline is ticking up.

  • BIC MAGAZINE
  • July 3 @ 8:00 am

U.S. refiners slashed gasoline output in response to lockdown

Faced with an unprecedented collapse in gasoline consumption during the most intense period of lockdown, U.S. refiners responded by slashing crude intake and curbing conversion processes used to boost gasoline yields.

  • BIC MAGAZINE
  • July 2 @ 3:16 pm

Oil producers seen easing oil cuts in August under OPEC+ deal

Russian Energy Minister Alexander Novak said on Thursday that the current global deal to reduce output should see producers ease their cuts starting in August.

  • BIC MAGAZINE
  • July 2 @ 2:50 pm

Traders thought Apple had ‘the holy grail’ of oil data, but the quest continues

Every day, energy merchants collect and scrutinize whatever information they can find on fuel demand to get a trading edge: from satellite data tracking oil tankers worldwide to thermal images from cameras on pipelines and storage tanks.

  • BIC MAGAZINE
  • July 2 @ 2:44 pm

Empire Pipeline acquires Gibson Terminal in Terrebonne Parish, Louisiana

Empire Pipeline LLC today announced it has acquired a crude oil terminal in Gibson, Louisiana from Equilon Enterprises LLC and Shell Oil Company.

  • BIC MAGAZINE
  • July 2 @ 8:00 am

Chevron acquires Puma Energy

The acquisition adds a network of more than 360 company-owned and retailer-owned service stations, a commercial and industrial fuels business, owned or leased seaboard import terminals and fuel distribution depots to Chevron’s Australian portfolio.

  • BIC MAGAZINE
  • July 1 @ 4:40 pm

U.S. oil M&A activity rises in second quarter on Appalachian gas deals

Dealmaking activity in the U.S. oil patch improved in the second quarter, after a subdued start to the year, helped by deals targeting assets in the gas-rich Appalachian region.

  • BIC MAGAZINE
  • July 1 @ 2:13 pm

U.S. crude stockpiles drop sharply as imports fall, refining rises

U.S. crude oil stockpiles dropped sharply from record highs, as refining activity picked up and imports fell.

  • BIC MAGAZINE
  • July 1 @ 1:57 pm

New North American trade deal launches under growing threat of disputes

The revamped trade pact between the United States, Canada and Mexico taking effect on Wednesday was meant to create a kind of fortress North America, boosting the region’s competitiveness – but cracks are already starting to show in the foundation.

  • BIC MAGAZINE
  • July 1 @ 1:47 pm

Harvest Midstream completes Ingleside pipeline

Harvest Midstream Company has completed the new Ingleside pipeline, a 24-mile, 24in oil pipeline that will originate from the Harvest Midway terminal.

  • BIC MAGAZINE
  • July 1 @ 1:33 pm

Occidental Petroleum extends bid deadline for Wyoming, Colorado land

Troubled Occidental Petroleum Corp has given the state of Wyoming until July 8 to bid on the land and minerals it is selling in Wyoming and Colorado.

  • BIC MAGAZINE
  • July 1 @ 12:49 pm

Shell secures biogas supply as part of low-carbon shift

Royal Dutch Shell said on Tuesday it has agreed to buy renewable gas, known as biomethane, from Denmark’s Nature Energy, in what the smaller company termed the largest deal of its kind.

  • BIC MAGAZINE
  • July 1 @ 12:10 pm

Saudi Aramco CEO: The worst is behind us in oil markets

Amin Nasser, president and Chief Executive Officer, Saudi Aramco stated in CERAWeek Conversations that the worst is behind us.

  • BIC MAGAZINE
  • July 1 @ 9:50 am

Enterprise enters into long-term agreement for PDH 2 facility

Enterprise’s network of PGP assets also includes more than 300 miles of delivery pipelines, 26 PGP connections, more than 5 million barrels of storage capacity and an export terminal on the Houston Ship Channel.

  • BIC MAGAZINE
  • July 1 @ 8:30 am

ConocoPhillips to bring back some curtailed production

ConocoPhillips said on Tuesday it would bring back some of the curtailed production in July, joining a growing list of oil producers turning on the taps months after a plunge in demand slammed the brakes on drilling.

  • BIC MAGAZINE
  • July 1 @ 8:00 am

GlobalData: North American refiners amend strategies to tackle loss of fuel demand and COVID-19 outbreak

Demand for transportation fuel has taken a huge hit on oil refineries since late March 2020 amid COVID-19 lockdowns.

  • BIC MAGAZINE
  • June 30 @ 1:05 pm

GlobalData: Petrochemicals divestment another sign of BP’s clean energy shift

While many oil and gas companies have recently looked to petrochemicals integration as a way to drive value, BP’s petrochemicals unit was not particularly well suited to its new energy transition strategy.

  • BIC MAGAZINE
  • June 30 @ 8:30 am

Hilco Redevelopment Partners closes on $225.5 million acquisition of PES

The deal is a giant step toward building an environmentally responsible and economically robust commercial hub in Southwest Philadelphia.

  • BIC MAGAZINE
  • June 30 @ 8:27 am

Reducing natural gas flaring

ExxonMobil’s experience in the Permian Basin demonstrates that zero routine flaring is within everyone’s reach.

  • BIC MAGAZINE
  • June 30 @ 8:00 am

BP sells petchems arm for $5 billion in energy transition revamp

BP has agreed to sell its global petrochemicals business to billionaire Jim Ratcliffe’s Ineos for $5 billion, pulling out of a sector widely seen as a key driver of oil demand growth in the coming decades.

  • BIC MAGAZINE
  • June 29 @ 9:43 am

OPEC has cut oil output by 1.25 mbpd in June

OPEC has cut oil output in June by 1.25 million barrels per day (bpd) from May levels as it works to implement a supply restraint agreement with Russia and other allies.

  • BIC MAGAZINE
  • June 29 @ 9:36 am

Oil mixed on improving economic data, uptick in virus cases

Oil prices were mixed on Monday, supported by improving economic data and supply cuts by major producers, but held in check by sharp spikes in new coronavirus infections around the world that have forced some countries to re-impose partial lockdowns.

  • BIC MAGAZINE
  • June 29 @ 9:31 am

Shale pioneer Chesapeake Energy files for bankruptcy

Chesapeake Energy Corp filed for Chapter 11 on Sunday, becoming the largest U.S. oil and gas producer to seek bankruptcy protection in recent years as it bowed to heavy debts and the impact of the coronavirus outbreak on energy markets.

  • BIC MAGAZINE
  • June 29 @ 9:24 am

U.S. commercial crude oil inventories reach all-time high

Commercial crude oil inventories do not include crude oil held in the U.S. Strategic Petroleum Reserve, which totaled 654 million barrels as of June 19.

  • BIC MAGAZINE
  • June 29 @ 9:02 am

GlobalData: US petrochemical industry forced to rethink investment decisions amid COVID-19 pandemic

The COVID-19 outbreak and crude oil price crash have pushed petrochemical companies in the US to announce project delays.

  • BIC MAGAZINE
  • June 29 @ 9:00 am

Philly refiner nears final deal with developer, amends price again

A deal to sell the Philadelphia Energy Solutions (PES) oil refinery to a Chicago-based real estate developer is expected to close on Friday for $26.5 million less than originally agreed to.

  • BIC MAGAZINE
  • June 26 @ 12:33 pm

Oil refiners adapt to post-lockdown shift to gasoline from diesel

Petroleum consumption is rising around the world as the major economies exit from lockdowns imposed to control the coronavirus epidemic, but the uneven recovery presents challenges for fuel refiners.

  • BIC MAGAZINE
  • June 26 @ 12:17 pm

Michigan court orders Enbridge to temporarily shut down Line 5 pipeline

Canadian pipeline operator Enbridge Inc has to halt Line 5 operations and disclose information related to the recent damage caused to a part of the oil pipeline.

  • BIC MAGAZINE
  • June 26 @ 10:58 am

U.S. refinery capacity sets new record as of January 1, 2020

U.S. operable atmospheric crude oil distillation capacity increased 0.9% during 2019, reaching a record of 19.0 million barrels per calendar day (b/cd), up 0.2 million b/cd from the previous record of 18.8 million b/cd the year before.

  • BIC MAGAZINE
  • June 26 @ 10:14 am

ICIS: Chemical industry faces volatile backdrop on road to recovery

The coronavirus crisis may simply accelerate key macro trends already underway, creating a volatile backdrop for chemical companies to navigate on the road to recovery.

  • BIC MAGAZINE
  • June 26 @ 7:00 am

U.S. crude oil and natural gas production in 2019 hit records with fewer rigs and wells

Increases in drilling efficiency pushed U.S. crude oil and natural gas production to establish new records of 12.2 million barrels per day (b/d) and 111.5 billion cubic feet per day (Bcf/d), respectively, in 2019.

  • BIC MAGAZINE
  • June 25 @ 2:15 pm

Fuel demand accelerates but new virus wave may slam on the brakes

Fuel demand is gradually recovering as coronavirus lockdown measures ease around the globe but a second wave of infections could swiftly undermine the trend, industry data showed.

  • BIC MAGAZINE
  • June 25 @ 1:42 pm

U.S. crude oil refining capacity nears 19 million bpd

U.S. crude oil refining capacity grew by nearly 1 percent in 2019, or 173,650 barrels per day (bpd) to nearly 19 million bpd, a new record.

  • BIC MAGAZINE
  • June 25 @ 12:57 pm

Occidental Petroleum sets deadline for bids on Wyoming, Colorado properties

Occidental Petroleum Corp has asked for bids by July 1 for properties it is selling in Wyoming and Colorado.

  • BIC MAGAZINE
  • June 25 @ 10:18 am

U.S. Supreme Court clears way for pipeline to cross Appalachian Trail

Ruling against environmentalists, the U.S. Supreme Court on Monday decided that the federal government has the authority to allow a proposed $7.5 billion natural gas pipeline to cross under the popular Appalachian Trail in rural Virginia.

  • BIC MAGAZINE
  • June 25 @ 8:30 am

With contracts canceled and debts mounting, offshore oil drillers face another shakeout

The companies that operate offshore drilling rigs for major oil producers face a second wave of bankruptcies in four years amid a historic drop in energy prices that likely will leave surviving drillers more closely tied to big oil firms.

  • BIC MAGAZINE
  • June 24 @ 12:32 pm

Oil falls on rising stocks, worries of new virus wave

Oil prices fell on Wednesday, as record high inventories and worries about a second wave of the coronavirus pandemic outweighed support from a gradual reopening of global economies.

  • BIC MAGAZINE
  • June 24 @ 12:13 pm

Enterprise ramps up ethylene exports; Commissions ethylene storage and pipeline system

The marine terminal volumes are supported by Enterprise’s high-capacity ethylene storage hub and pipeline system, which is connected to four ethylene pipeline systems.

  • BIC MAGAZINE
  • June 24 @ 10:12 am

GlobalData: US LNG exports decline but show flexibility during current cycle

One of the reasons why the US is experiencing a high number of cargo cancellations has to do with the flexibility embedded in the selling of contracts, which is proving to be an advantage for LNG buyers.

  • BIC MAGAZINE
  • June 24 @ 10:05 am

First liquefaction equipment arrives at Calcasieu Pass

The Calcasieu Pass LNG began installing the first equipment to liquefy natural gas at its export facility under construction in Cameron Parish, Louisiana.

  • BIC MAGAZINE
  • June 24 @ 8:30 am

irst liquefaction equipment arrives at Calcasieu Pass

The Calcasieu Pass LNG began installing the first equipment to liquefy natural gas at its export facility under construction in Cameron Parish, Louisiana.

  • BIC MAGAZINE
  • June 24 @ 8:30 am

Venture Global announces arrival of first liquefaction equipment at Calcasieu Pass LNG Export Facility

Venture Global LNG, Inc. is proud to announce that Calcasieu Pass LNG has begun installing the first equipment to liquefy natural gas at its export facility under construction in Cameron Parish, Louisiana.

  • BIC MAGAZINE
  • June 24 @ 8:30 am

Rystad Energy: Global gas output set to fall by 2.6% in 2020, associated gas to take the hardest hit

The Covid-19 pandemic has landed a lasting blow to both oil and gas markets. Global oil production has absorbed the lion’s share of the impact, but natural gas output, which was previously set to grow, is also set to decline by 2.6% this year.

  • BIC MAGAZINE
  • June 24 @ 8:00 am

WoodMac: US offshore wind powers up

The US offshore wind industry is set to power up over the coming decade. New research from Wood Mackenzie shows that as the sector ramps up from near-zero today, it could deliver as much as 25 gigawatts (GW) in 2029.

  • BIC MAGAZINE
  • June 23 @ 1:11 pm

Philly refinery sale expected to close next week for $27.5 million less

A sale of the Philadelphia Energy Solutions oil refinery site to real estate developer Hilco is expected to close next week for $27.5 million less than planned.

  • BIC MAGAZINE
  • June 23 @ 12:05 pm

Oil rises after Trump assurance on China trade deal

Oil prices rose on Tuesday in a volatile session after U.S. President Donald Trump soothed jangled nerves over the status of the U.S.-China trade deal.

  • BIC MAGAZINE
  • June 23 @ 10:35 am

U.S. liquefied natural gas exports have declined by more than half so far in 2020

Daily natural gas deliveries to U.S. facilities that produce liquefied natural gas (LNG) for export were a record 9.8 billion cubic feet per day (Bcf/d) in late March 2020, but deliveries fell to less than 4.0 Bcf/d in June.

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  • June 23 @ 9:35 am

Oil, stocks gain, but rising infection rates spark concerns

Crude oil prices and a gauge of global equity markets edged higher on Monday as lockdowns eased, but sentiment remained tenuous as coronavirus infections continued to rise.

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  • June 22 @ 3:41 pm

Oil steady on tighter supply, but virus fears cap gains

Oil prices were steady on Monday, supported by tighter supplies from major producers but held in check by concerns over a rise in coronavirus infections worldwide that could stall a recovery in fuel demand.

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  • June 22 @ 9:51 am

U.S. slaps sanctions on Mexican firms, individuals linked to Venezuelan oil trade

The Treasury said in a statement it imposed sanctions on three individuals, eight entities and two vessels for activities related to a network attempting to skirt U.S. sanctions on Venezuela aimed at ousting President Nicolas Maduro.

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  • June 19 @ 1:35 pm

Chesapeake Energy skips interest payment; borrowing base slashed

Chesapeake Energy Corp, the shale pioneer widely anticipated to seek bankruptcy protection, said on Thursday it had skipped an interest payment due June 15 on some of its notes and its capacity to borrow money was slashed by lenders.

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  • June 19 @ 1:09 pm

U.S. refiners aim to lock in crude volumes after getting burned by shut-ins

U.S. refiners and other buyers of crude oil are reworking some of their supply contracts to guarantee volumes after many were cut off unexpectedly when a price collapse this spring led drillers to curtail production.

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  • June 19 @ 11:52 am

U.S. gasoline demand recovery falters as refiners ramp up output

A recovery in demand for gasoline in the United States, the world’s largest market for the motor fuel, hit a plateau last week as coronavirus cases surged in some states, undercutting refiners’ efforts to ramp up low fuel production.

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  • June 19 @ 11:08 am

Higher Western Canada spot prices limit U.S. natural gas imports from Canada

U.S. imports of natural gas by pipeline at U.S.-Canada border crossings in the western United States fell to an estimated average of 6.2 billion cubic feet per day (Bcf/d) in April and 6.3 Bcf/d in May 2020.

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  • June 19 @ 10:08 am

TC Energy to proceed with $8 Billion Keystone XL pipeline

TC Energy Corp. will proceed with construction of the Keystone XL Pipeline project, resulting in an investment of approximately $8 billion into the North American economy.

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  • June 18 @ 5:35 pm

Oil edges up on OPEC output cut compliance; pandemic still weighs

Oil prices rose slightly Thursday as a panel of OPEC and its allies met to review record oil supply cuts, even as the market remained concerned about additional coronavirus cases reported in parts of the United States and China.

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  • June 18 @ 1:17 pm

BP raises nearly $12 billion in first hybrid bonds issue

BP Plc has raised nearly $12 billion in debt, taking advantage of low borrowing costs days after the oil and gas company wrote down 10% of its value as part of its shift towards cleaner energy.

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  • June 18 @ 12:40 pm

Canada’s Enbridge says 800 workers take voluntary buyouts

Enbridge Inc, Canada’s largest pipeline operator, said on Wednesday about 800 employees have opted for voluntary buyouts, as the company tries to reduce costs to tackle the COVID-19 crisis and the global oil price shock.

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  • June 18 @ 11:25 am

U.S. warns of pirates in southern Gulf of Mexico

The U.S. government on Wednesday issued a warning about the threat posed by pirates to boats and oil installations in the southern Gulf of Mexico, in the latest sign of concern about ongoing security challenges facing Mexico.

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  • June 18 @ 11:03 am

Rystad Energy’s: Recoverable oil loses 282 billion barrels as Covid-19 hastens peak oil

Global total expected remaining recoverable oil resources decrease to 1,903 billion barrels, 42% of which are in OPEC territory, with the remaining 58% located outside the alliance.

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  • June 18 @ 8:00 am

How COVID-19 is impacting tank, pipeline inspection

The world is adapting to the challenges posed by the novel coronavirus, COVID-19.

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  • June 17 @ 4:09 pm

Oil and gas industry releases updated reporting guidance

The fourth edition of the Sustainability Reporting Guidance provides oil and gas companies with a clear framework to demonstrate their important role in the energy transition by reporting on how they manage climate and sustainability impacts.

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  • June 17 @ 2:31 pm

Save America’s offshore oil and gas industry

As our nation cautiously reopens and our economy begins to recover from the COVID-19 pandemic, the thought of a summer road trip has never seemed sweeter.

  • BIC MAGAZINE
  • June 17 @ 2:24 pm

Texas could tighten some natural gas flaring rules by fall

Texas as early as this fall could tighten some rules for the controversial practice of natural gas flaring.

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  • June 17 @ 1:42 pm

Shale producer Devon Energy curtails 10,000 bbls per day of oil production

Shale producer Devon Energy Corp has curtailed roughly 10,000 barrels per day of oil production, its chief executive said at an energy conference on Tuesday, but said Devon still expects to end the year with output flat with 2019 levels.

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  • June 17 @ 12:12 pm

Greentown Labs expands to Houston

North America’s largest climatetech incubator will open its second location in the energy capital of the world to accelerate the clean energy transition.

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  • June 17 @ 12:03 pm

U.S. EPA yet to decide on retroactive refinery waiver requests

The U.S. Environmental Protection Agency has not yet taken action on petitions by refiners seeking retroactive biofuel blending waivers.

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  • June 17 @ 11:51 am

OPEC sees gradual oil demand recovery, makes 84% of cuts in May

OPEC forecast on Wednesday a gradual recovery in global demand for oil, which has been hammered by the coronavirus crisis, and said record supply cuts by producers were already helping to rebalance the market.

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  • June 17 @ 11:18 am

U.S. natural gas production efficiency continued to improve in 2019

Analysis of underlying data on natural gas well efficiency shows how U.S. natural gas production increased in 2019 because, in part, of greater productivity of new wells drilled in shale and tight formations.

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  • June 17 @ 10:32 am

Oil prices rise as Wall Street rallies, demand improves

Oil prices rose on Tuesday as Wall Street surged and the International Energy Agency (IEA) increased its oil demand forecast for 2020, but gains were capped by worries about a second wave of coronavirus cases.

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  • June 16 @ 11:39 am

Aviation crisis means oil demand to stay below pre-virus levels before 2022

Oil demand is recovering from the greatest fall in its history in 2020, the International Energy Agency (IEA) said on Tuesday, but less flying due to coronavirus fears means the world will not return to pre-pandemic demand levels before 2022.

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  • June 16 @ 11:11 am

U.S. shale oil output to drop to near 2-yr low of 7.63 mln bpd in July

U.S. oil output from seven major shale formations is expected to fall to near a two-year low of 7.63 million barrels per day by July.

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  • June 16 @ 10:13 am

U.S. coal consumption continues to decline across all sectors

U.S. coal consumption has been declining since its peak in 2007 of 1.1 billion short tons. In 2019, U.S. coal consumption totaled 590 million short tons (MMst).

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  • June 16 @ 9:10 am

U.S. crude drops as coronavirus cases spike globally

Oil prices fell on Monday as new coronavirus infections hit the United States and China, feeding worries that renewed lockdowns could hamper economic recovery and dent fuel demand.

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  • June 15 @ 11:57 am

Hedge funds wait for signs of cyclical recovery in oil

Hedge fund managers show little directional conviction on petroleum prices after crude futures doubled between late April and early June, suggesting most now see upside and downside risks as finely balanced.

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  • June 15 @ 11:34 am

BP wipes up to $17.5 billion from assets with bleaker oil outlook

BP will write off up to $17.5 billion from the value of its assets after cutting its long-term oil and gas price forecasts, betting the COVID-19 crisis will cast a lasting chill on energy demand and accelerate a shift away from fossil fuels.

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  • June 15 @ 10:57 am

Global electricity consumption continues to rise faster than population

Global electricity consumption continues to increase faster than world population, leading to an increase in the average amount of electricity consumed per person.

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  • June 15 @ 9:38 am

Calumet declares renewed focus on specialty lubricants, chemicals

Calumet Specialty Products Partners LP has released updated information regarding its operations.

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  • June 15 @ 12:50 am