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Weak refinery, export demand weakens prices for Midland crude along Texas coast

Oil & Gas 360ยบ

government on Canadian crude also pressured the spread as Midwest refiners were seeking WTI-Midland crude to Cushing to replace Canadian light sweet oil, said Energy Aspects analyst Jeremy Irwin. Permian to Cushing pipeline flows are tracking 100,000 barrels per day higher year-over-year for the first quarter, Irwin said.

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Libya launches first oil exploration bid round in 17 years

Oil & Gas 360ยบ

Meanwhile, Enis offshore drilling campaign in Libyas Sirte Basin is set to be one of the most closely watched exploration programs in 2025, with four exploration wells in the pipeline. Meanwhile, the Sabratha Compression Project is in execution, with startup expected later in the year.

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Energy Transfer Continues 2024 Momentum With Strong Third Quarter Earnings

Energy Transfer

We also saw record performance in crude oil transportation volumes (up 25%), midstream gathered volumes (up 6%), NGLs produced (up 26%), and NGL fractionation volumes (up 12%) and transportation volumes (up 4%). This was offset by lower IT utilization in dry gas areas due to the lower gas prices and weaker spreads.

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From Wellhead to Water: How Midstream Companies Are Shaping the Future of Energy Exports

Oil Gas Leads

Leading companies are aggressively expanding and integrating their gathering, processing, pipeline, and export infrastructure. This “Wellhead to Water” strategy is particularly evident in the Permian Basin, where crude oil, natural gas, and natural gas liquids (NGLs) production is growing rapidly.

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Californiaโ€™s Energy Network at Risk Amid Spreading Wildfires

Rextag

As flames continue to rage across Los Angeles and surrounding areas, pipelines, refineries, and power systems are under serious threat, creating the potential for widespread energy disruptions across multiple states. Lipow explained that pipeline disruptions could lead to a buildup at refineries, forcing them to reduce their operating rates.

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Energy Transfer Caps 2024 with Strong Q4 and Full Year Earnings Results

Energy Transfer

We also saw strong performance in crude oil transportation volumes (up 15%), NGL transportation volumes (up 5%), NGL exports (up 2%), midstream gathered volumes (up 2%) and interstate natural gas transportation volumes (up 2%). The increase was primarily due to increased gains related to pipeline and storage optimization opportunities.

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AI in Oil and Gas โ€“ A Game-Changer for Efficiency and Profitability

Aresco

AI models analyze real-time data from drilling sites, pipelines, and refineries, adjusting operations to optimize production and efficiency. AI-powered systems can fine-tune extraction techniques, monitor pipeline integrity, and adjust refinery processes to maximize output while reducing the risk of inefficiencies.

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