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crudeoil market has undergone a drastic shift since the Shale Revolution. After a quarter-century of declining production and increasing dependence on imported oil, the U.S. into a major exporter and a critical supplier to the international market and also led to an evolution in crudeoil trading.
As the global crudeoil market continuously evolves, so do the tools that traders, refiners and producers rely on to navigate its complexities. Among these tools, futures contracts play a pivotal role, allowing market participants to manage risk and ensure liquidity.
That's because crudeoil prices are at their lowest for nearly three years too, owing to lower demand (mainly from China), higher supply (largely from the US) and a stronger dollar (courtesy of the US Federal Reserve). In fact, lower prices at the pump are being replicated across Europe.
The dispute between ETP and Enterprise began in 2011, when Enterprise approached ETP about potentially building a crudeoil pipeline together. The Blog/Web Site should not be used as a substitute for legal advice from a licensed professional attorney in your state regarding a particular matter.
In the past three decades, more than 30,000+ units have been installed globally in various applications like crudeoil refinery, oil and gas, petrochemicals, pulp and paper, mining and metal industries, to name a few. Compact Size 40,000 ft 2 of shell & tube equivalent HTA can be fit in 7 x 7 ft 2 of plot space.
In a victory for the oil and gas industry, the Third Circuit rendered a decision rejecting attempts by the Louisiana Department of Revenue to impose severance taxes on crudeoil production based on index pricing. The decision can be found here. Communications include firm news, insights, and events.
crudeoil inventories increase by 4.6 crudeoil inventories rose by 4.6 Read more Contact Valor Today Contact us today if you need help outsourcing your oil and gas operations. The blog/website should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.
The Associated Press reported today that a federal jury found Kerr McGee liable for additional royalties on crudeoil produced from federal properties and sold through Texon. Kerr McGee had denied the allegations and claimed that no additional royalties were owed.
In a decision by the Louisiana Board of Tax Appeals, Liskow & Lewis attorneys Robert Angelico , Jim Exnicios , Cheryl Kornick , RJ Marse , and Jeff Birdsong obtained a ruling rejecting attempts by the Louisiana Department of Revenue to increase the amount of severance taxes due on crudeoil produced in Louisiana.
Downstream Investments; Refining and Distribution : The downstream sector involves refining crudeoil into usable products such as gasoline, diesel, and jet fuel, and distributing these products to consumers. Additionally, refining margins can increase during periods of low crudeoil prices, enhancing profitability.
The standards applied to various sources including storage tanks used in crudeoil and natural gas production. On April 12, 2013, EPA announced proposed amendments to the rule pertaining to storage tanks.
By Jonathan Hunter: In a highly anticipated decision, the Tenth Circuit held this week that the district court had subject matter jurisdiction over a qui tam action filed by an MMS auditor concerning royalty payments on crudeoil produced from offshore federal leases.
By Kerry Murphy On Wednesday September 2, BP drilled the world’s deepest oil well – the Tiber Prospect Well – and discovered a huge pool of crudeoil. The Tiber well is located in the western Gulf of Mexico, southwest of New Orleans in U.S.
A tug owned by Marquette collided with an oil-carrying barge owned by Settoon as the Marquette tug attempted to overtake the Settoon flotilla. As a result of the collision, approximately 750 barrels of light crudeoil discharged into the river. Following the spill, the U.S.
We create software solutions for participants in the oil and gas supply chain — the producers, suppliers and retailers who move bulk liquids like crudeoil, natural gas liquids and derivatives like natural gas, propane, butane and more. Why I am talking about solutions built on AWS on an IBM Blockchain blog?
The future is AI-driven, and the oil and gas sector is poised to reap the benefits of this technological revolution. Related Blogs and Information CrudeOil Investing: A Guide for Accredited Investors Investing and Taxes – Advantages of Oil & Gas Exploration Microwave Fracking: The New Hydraulic Fracturing?
involved a class action that was filed by commercial fisherman and native Alaskans against Exxon and its tanker captain for economic losses suffered as a result of the now infamous Exxon Valdez oil spill that occurred in 1989. Baker, et al. Exxon spent $2.1
Crudeoil recorded yet another record high, increasing over $4 per barrel to nearly $80. Commodity Price or Volumes Change since last % Change Natural Gas Spot (Henry Hub) $6.13/MMBtu MMBtu UP $0.32 NYMEX (September deliveries) $6.438/MMBtu UP $0.63 West Texas Intermediate Spot $79.85/Bbl
Flint Hills, a crudeoil refiner, agreed to purchase Mexican condensate from JAG. 12, 2009), a panel of the United State Court of Appeals for the Fifth Circuit heard an action arising from a contract to supply natural gas condensate in south Texas.
EPA is also proposing VOC emissions limits for gas-driven pneumatic devices, equipment standards for centrifugal compressors, operational standards for reciprocating compressors, and a 95% VOC emission reduction requirement for some condensate and crudeoil storage tanks.
West Texas Intermediate Crude Cushing OK), and then includes various positive and negative adjustments to that market center price to arrive at the price to be paid for the crudeoil. For instance, if the oil is purchased at or near the lease, the particular lease may include a deduction or premium applicable only to that lease.
1] (“ Bayou Bridge ”) centers around the construction of a crudeoil pipeline from the Clifton Ridge terminal in Lake Charles, Louisiana to a marketing hub in St. The Blog/Web Site should not be used as a substitute for legal advice from a licensed professional attorney in your state regarding a particular matter.
Since Wednesday, August 15, all prices reported in the weekly chart (for both natural gas and crudeoil) have decreased as Hurricane Dean failed to have a significant impact on domestic production in the Gulf of Mexico, and temperatures moderated demand. Natural gas volumes in storage continue to increase. Bbl DOWN $4.06
Crudeoil was up over $2 per barrel. Since Wednesday, August 29, natural gas spot prices increased in most markets (exceptions were Florida and Rocky Mountain region). Commodity Price or Volumes Change since last % Change Natural Gas Spot (Henry Hub) $5.81/MMBtu MMBtu UP $0.17 West Texas Intermediate Spot $75.74/Bbl
The ATHOS I was contracted to deliver crudeoil from Venezuela to a syndicate of CITGO interests, collectively referred to as “CARCO.” The allision resulted in a spill of approximately 264,000 gallons of crudeoil into the Delaware River. As the designated responsible party under the Oil Pollution Act (“OPA”), 33 U.S.C.
At the outset, the court reaffirmed its earlier ruling that the plaintiffs failed to state a claim for alleged damages to non-proprietary State-owned natural resources, including marine estuaries.
1] (“ Bayou Bridge ”) centers around the construction of a crudeoil pipeline from the Clifton Ridge terminal in Lake Charles, Louisiana to a marketing hub in St. The Blog/Web Site should not be used as a substitute for legal advice from a licensed professional attorney in your state regarding a particular matter.
Notice of Proposed Rulemaking According to Transportation Secretary Anthony Foxx, the “Bakken crudeoil is on the high end of volatility compared to other crudeoils,…[and] its production is skyrocketing, up from 9,500 rail car loads in 2008 to 415,000 last year, a more than 4,000 percent increase.” See 79 Fed.
In todays RBN blog, well look at how PADD 4 dispenses these barrels and its role in balancing continental crudeoil supply and demand. Yet, the Shale Revolution has impacted the Rockies as much as any other region, boosting production in the Denver-Julesburg (DJ) and Uinta basins, and the Montana portion of the Bakken.
As if crude producers and midstream transportation companies don’t already have enough problems trying to get crudeoil from production fields to refineries thanks to inadequate pipeline infrastructure, tank car supply, rail safety concerns, and new regulations, they now also have to address a new, potentially market-busting lawsuit.
Read more US oil refiners look to Latin America, Iraq after Trump tariffs Summary : Following the imposition of tariffs on Canadian and Mexican crudeoil imports by President Donald Trump, U.S. refiners are seeking alternative heavy crude sources from Latin America and the Middle East.
WTI holds above $70 amid Russia-Ukraine peace talks Summary : WTI crudeoil remains cautiously above $70 as investors await further developments in the Russia-Ukraine peace talks, which could potentially flood the market with more Russian oil and negatively affect prices. Stay tuned for weekly updates to keep you well-informed.
Energy Information Administration projects an increase in crudeoil and natural gas production in 2025. Read more Contact Valor Today Contact us today if you need help outsourcing your oil and gas operations. This decline is attributed to companies prioritizing debt reduction and shareholder returns over increasing production.
Background The Keystone Pipeline is a system of petroleum pipelines designed to transport crudeoil from fields in Alberta, Canada and ultimately terminating at refineries on the U.S The Blog/Web Site should not be used as a substitute for legal advice from a licensed professional attorney in your state regarding a particular matter.
The Keystone Pipeline is a system of petroleum pipelines designed to transport crudeoil from fields in Alberta, Canada and ultimately terminating at refineries on the U.S The Blog/Web Site should not be used as a substitute for legal advice from a licensed professional attorney in your state regarding a particular matter.
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