Sunday, May 31, 2026

Houston Channel Importance Swelled as Oil, Gas Exports Rose

From Bloomberg On a normal day, 42 tankers, 19 freighters, 391 barges, 128 ferries and 2 cruise ships will move through the Houston Ship Channel. On any given day, one of those tankers may be as long as 1,500 feet. The last week, though, has been anything but normal. The second busiest U.S. port by tonnage was closed for three

Commodity Traders Turn to LNG as Big Oil Profits Prove Elusive

From Bloomberg With margins narrowing in the crude oil business, some of the world’s biggest commodity trading houses are helping to reshape the energy industry with a drive into liquefied natural gas. Gunvor Group Ltd., Trafigura Group Pte. Ltd. and Vitol SA have moved a step beyond trading LNG, investing in ships and terminals handling the fuel. That’s accelerating the

Lundin Plans $747 Million Oilfield Development in Norway

From Reuters Lundin Petroleum announced plans on Wednesday develop its Solveig oilfield, formerly known as Luno II, offshore Norway at a cost of 6.4 billion Norwegian crowns ($747 million). The development and operation plan for the North Sea field called for a production startup of in the first quarter of 2021, the Swedish company said. The new field will be

Minnesota Regulator Confirms Approval of Enbridge Oil Pipeline

From Reuters A Minnesota regulator has confirmed its approval of Enbridge Inc’s Line 3 crude oil pipeline replacement, allowing the $7 billion project to move forward, the company said on Wednesday. The Minnesota Public Utilities Commission initially approved Enbridge’s plan to rebuild the aging 1,031-mile (1,660 km) pipeline that runs from Alberta in Western Canada to the U.S. state of

A Bashneft rail car

Canada’s Imperial Oil Resumes Shipping Crude by Rail

From Reuters Canadian crude producer Imperial Oil has recently resumed shipping crude oil by rail from its terminal in Edmonton, Alberta, because of a marginal improvement in rail economics, a company spokesman said on Tuesday. The pickup in volumes is good news for the Alberta government, which is relying on rail to help draw down crude storage inventories in Canada’s