Post Tagged with: "Storage"

China May Be Storing More than 150% More Oil than Official Estimates

China May Be Storing More than 150% More Oil than Official Estimates

New third-party estimates put Chinese strategic oil reserves at 600 MMBO, 366 MMBO more than official reports

The actual amount of crude oil stored in China may be significantly higher than official reports indicate, according to geospatial analytics company Orbital …

September 30, 2016 - 6:02 pm Closing Bell Story‎, International, Oil and Gas 360 Articles
More Volatility: Oil Price Falls as U.S. Petroleum Stocks Rise

More Volatility: Oil Price Falls as U.S. Petroleum Stocks Rise

Largest Weekly Build in Crude Stocks since April

WTI oil price fell this morning after EIA reported that crude oil stocks has increased by 2.5 million barrels, the largest weekly build in crude stocks since April 29, 2016.

The build …

August 24, 2016 - 5:44 pm Analytics, Closing Bell Story‎, Oil and Gas 360 Articles
Natural Gas Delivers a Surprise

Natural Gas Delivers a Surprise

NATURAL GAS INVENTORY (Week Ended 7/29/16)

Current: 3,288 Bcf
Actual Injection/(Withdrawal), per EIA: (6) Bcf
Economist Average Estimate, per Bloomberg: 0 Bcf
Previous: 3,294 Bcf

Natural gas inventory is cyclical in nature, to the point where the two cycles are …

Yuan Down, Part 2: Changes to How China Handles its Oil Reserves

Yuan Down, Part 2: Changes to How China Handles its Oil Reserves

At Today’s Lower Prices China is Adding 70-90 MMBoe to SPR with Strategic Crude Oil Purchases

Simultaneously to the Peoples Bank of China intentionally depreciating the Yuan last week, China’s National Energy Administration announced on May 31, 2016 that the …

Oil Continues Rally

Oil Continues Rally

WTI oil price continued its hot streak today finishing the day up 1.82% at $48.59 per barrel.  Uncontrolled forest fires in Canada have suppressed the supply of oil coming from that market, more than one million barrels have yet to …

TransCanada Announces Preferred Share Issuance

TransCanada Announces Preferred Share Issuance

CALGARY, ALBERTA–(Marketwired – April 13, 2016) – TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced that it will issue 12 million cumulative redeemable minimum rate reset first preferred shares, series 13 (the “Series 13 Preferred Shares”) at a price of $25.00 …

April 13, 2016 - 5:43 pm Canada
Oil Prices Climb 5% on Surprise Inventory Draw

Oil Prices Climb 5% on Surprise Inventory Draw

Inventories fall 4.9 MMBO

Oil prices surged today following news from the Department of Energy that U.S. inventories declined this week following 7 consecutive weeks of record setting builds. U.S. crude oil inventories declined 4.9 MMBO this week to 529.9 …

Natural Gas Prices Up Slightly after Inventory Draw

Natural Gas Prices Up Slightly after Inventory Draw

U.S. natural gas inventories show 25 Bcf draw

U.S. natural gas inventories saw a larger than expected draw today, according to information from the Department of Energy. The DOE reported natural gas inventories for the week ended March 25, 2016, …

Cushing Full by June, Then What?

Cushing Full by June, Then What?

With so much oil being produced in the U.S. and nowhere to store it, why are we still importing?

Crude oil stocks continued to build last week to levels well above the five-year average as global oversupply persists. Production in …

Global Liquids Inventories Growing at the Fastest Rate in 17 Years

Global Liquids Inventories Growing at the Fastest Rate in 17 Years

Lower oil prices push liquid storage levels higher

As global oil production continues to outpace demand, storage levels for petroleum and other liquids has grown at a pace not seen in 17 years. Total global liquids inventories are estimated to …

August 24, 2015 - 4:19 pm Commodity Pricing, Oil and Gas 360 Articles
Natural Gas Salt-Facility Storage in the Gulf has Doubled Since 2008

Natural Gas Salt-Facility Storage in the Gulf has Doubled Since 2008

Salt-facilities offer more flexibility than other types of storage

The available working capacity of salt-cavern natural gas storage facilities in the Gulf Coast gas-producing region has doubled since 2008, according to information from the Energy Information Administration (EIA). New capacity …

July 27, 2015 - 7:01 pm Oil and Gas 360 Articles
Oil Prices Reach 2015 High

Oil Prices Reach 2015 High

Data showing slowed U.S. production and slightly higher demand sees oil prices climb

Prices for West Texas Intermediate (WTI) and Brent crude were both up on news that U.S. oil production is continuing to slow. Light, sweet crude for May …

April 15, 2015 - 6:46 pm Oil and Gas 360 Articles, Popular
Gibson Energy Expands Canadian Storage

Gibson Energy Expands Canadian Storage

Gibson Energy plans to add 2 MMBO of storage over the next few years

Gibson Energy (ticker: GEI) has received committed shipper support to proceed with the construction of 2 additional crude oil storage tanks at the Hardisty storage hub. …

April 13, 2015 - 6:46 pm Canada, Oil and Gas 360 Articles
Kinder Morgan Increases Storage Capacity by More than 2.2 Million Barrels

Kinder Morgan Increases Storage Capacity by More than 2.2 Million Barrels

Kinder Morgan purchased three terminals for $158 million, further solidifying its position as the largest energy infrastructure company in North America

Last week, Kinder Morgan (ticker: KMI) announced that it will purchase three storage terminals and one undeveloped site from …

February 16, 2015 - 3:36 pm Oil and Gas 360 Articles