US News BAGHDAD – Iraq will discuss with Washington this week how to pay dues owed to Russian oil companies despite sanctions, Foreign Minister Fuad Hussein said on Monday. “We will discuss this problem with the American side. There are sanctions in place that should not be imposed on the Iraqi side because the cooperation with Russian companies is
BOE Report Equinor said European Union sanctions had prevented it from providing services and equipment to inspect the damaged Nord Stream gas pipelines last year, revealing for the first time why Norwegian assistance was not forthcoming. In September, several unexplained underwater explosions ruptured the Nord Stream 1 and Nord Stream 2 pipelines, each more than 1,200-km-long, that link Russia and Germany
Oil Price The Nord Stream pipeline can be repaired within a year, but it’s unclear whether Germany would want to receive Russian natural gas at all, said Klaus-Dieter Maubach, the outgoing CEO at German energy giant Uniper, which was Russia’s top gas customer before Moscow cut off supply via Nord Stream. “The first question that needs answering: what’s the
BOE Report TC Energy Corp has submitted a restart plan for its Keystone pipeline to U.S. safety regulator Pipeline and Hazardous Materials Safety Administration (PHMSA) which is being reviewed, according to a source on Tuesday. The 622,000 barrels per day (bpd) pipeline was shut after it spilled 14,000 barrels of oil in rural Kansas, including into a creek. Bitumen tends to
Energy Now Cleanup of the biggest U.S. oil spill in nearly a decade will take at least weeks more, local officials in Kansas said on Tuesday, citing a recent meeting with Keystone pipeline owner TC Energy Corp (TRP.TO). There is still no official timeline for a restart of the key Canada-U.S. pipeline, which was closed after the spill of roughly
BOE Report Oil extended gains on Tuesday as a key pipeline bringing the resource to the United States remained shut, adding to concerns about potential tight supply in the world’s biggest crude consumer. U.S. West Texas Intermediate (WTI) crude futures gained $1.40, or 1.90%, to $74.65. Brent crude futures rose $1.59, or 2.04%, to $79.65 per barrel. Both benchmarks
Oil Price Canadian pipeline operator TC Energy said it had contained the leak from the Keystone pipeline that occurred in the middle of last week, spilling 14,000 barrels of crude into a creek. The leakage was contained in Kansas, NBC News reported, citing the company, which had to shut down the pipeline while it worked on fixing the leaky section.
Nasdaq SINGAPORE – Oil prices rose more than 1% on Monday as a key pipeline supplying the United States stayed shut while Russian President Vladimir Putin threatened to cut production in retaliation for a Western price cap on its exports. Brent crude futures LCOc1were up 30 cents, or 0.4%, to $76.40 a barrel by 0300 GMT. U.S. West Texas Intermediate crude CLc1 was at $71.53 a barrel, up
Oil Price TC Energy, the operator of the Keystone Pipeline, said on Thursday that it had shut down the oil pipeline and is responding to a release of oil into a creek near Steele City, Nebraska. “We have shut down the Keystone Pipeline System and mobilized people and equipment in response to a confirmed release of oil into a creek, approximately
US News WINNIPEG, Manitoba – As TC Energy Corp prepares to unload C$5 billion ($3.7 billion) in assets next year, investors and analysts say the North American pipeline operator has plenty of options without touching its core gas business. Chief Executive Francois Poirier cleared up any ambiguities this week when asked how much of TC’s portfolio is in the shop
World Oil The Biden administration has approved plans to build the nation’s largest oil export terminal off the Gulf Coast of Texas, which would add 2 million barrels per day to the U.S. oil export capacity, The Texas Tribune and Earthworks reported. The approval by the Department of Transportation’s Maritime Administration was filed in the federal register on Monday without any public announcement,
BOE Report Western Canada Select (WCS) crude’s discount to the benchmark West Texas Intermediate (WTI) narrowed slightly on Tuesday. WCS heavy blend crude for December delivery in Hardisty, Alberta, settled at $28.60 barrel under WTI, according to NE2 Inc, narrowing around 25 cents from the previous session. TC Energy said its 622,000 barrel-per-day Keystone oil pipeline will curtail volumes due
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