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  1. MARKET WATCH: NYMEX crude oil prices rise more than $1/bbl on inventory drop

    The light, sweet oil contract for November rose by more than $1/bbl on the New York market to settle above $45/bbl Sept. 21 after the US crude inventory fell for a third consecutive week. Analysts attributed the latest inventory drop to increased refinery activity. The US Energy Information Administration showed a larger-than-expected draw of 6.2 million bbl in oil supplies for the week ended Sept. 16 to a total of 504.6 million bbl ( OGJ Online, Sept. 21, 2016 ). The estimated crude inventory was the lowest since Feb. 12, but still 11% above its level for the same period a year ago. The refinery utilization rate for the week ended Sept. 16 was 92%, EIA said. “Relatively strong refinery activity for this time of year has put downward pressure on crude stocks,” said Anthony Starkey, a manager of energy analysis with Platts Analytics, a unit of S&P Global Platts. For the week ended Sept. 16, US oil production was 8.512 million b/d, up 19,000 b/d, the Petroleum Status Report said. Of that total, the Lower 48 accounted for 8.048 million b/d, which was up 13,000 b/d from the previous week, EIA said. On world oil markets , an oil tanker reportedly left the Libyan port of Ras Lanouf for Italy on Sept. 21, marking the first crude export cargo from the terminal since late 2014. Libya’s National Oil Corp. has asked antigovernment military groups to unblock the Sharara and El Feel oil fields. NOC issued a statement saying Libya’s oil production could return to 1.2 million b/d within a year if all the pipelines were allowed to operate without constraint and if the government authorized NOC’s requested budget. “It is time to let Libya’s oil flow freely and get Libya back on its feet,” NOC said. Energy prices The November crude oil contract on the New York Mercantile Exchange gained $1.29 on Sept. 21 to close at $45.34/bbl. The December contract was up $1.20 to $45.90/bbl. The natural gas contract for October increased 1¢ to a rounded $3.06/MMbtu. On the spot market, the Henry Hub gas price was up 6¢ to $3.14/MMbtu. Heating oil for October gained 2¢ to a rounded $1.43/gal. The price for reformulated gasoline stock for oxygenates blending was up 3¢ to a rounded $1.39/gal. The November Brent crude contract on London’s ICE climbed 95¢ to settle at $46.83/bbl and the December contract rose 93¢ to settle at $47.29/bbl. The October gas oil contract settled at $418.25/tonne, up $5. The average price for the Organization of Petroleum Exporting Countries’ basket of 12 benchmark crudes on Sept. 20 was $42.54/bbl, up 99¢. Contact Paula Dittrick at paulad@ogjonline.com .

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    Thu, 22 Sep 2016

  2. Houston Ship Channel closed after tanker fire, fuel spill

    A portion of the Houston Ship Channel is closed to all traffic after a tanker caught fire and spilled fuel oil.

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    Tue, 6 Sep 2016

  3. Oil and Gas News: Citgo plans to appeal $120 million ruling in 2004 oil spill

    Industrial products company Citgo plans to appeal an order to pay $120 million for its role in a quarter-million-gallon oil spill in 2004 in the Delaware River, the company said in a court filing.

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    Thu, 8 Sep 2016

  4. Nigerian separatists hijack oil tanker , demand release of leader

    Nigerian separatists have hijacked an oil tanker and threatened to blow it up with its foreign crew if authorities do not release a detained leader agitating for a breakaway state of Biafra.

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    Tue, 2 Feb 2016

  1. Runaway NY oil tanker tips, spills 100 gallons; no injuries

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    Mon, 5 Oct 2015

  2. Oil and Gas News: Company sued in Casselton train derailment wants case moved

    A Pennsylvania steel company named in a lawsuit over an oil tanker train derailment near Casselton more than two years ago wants the case moved from state to federal court.

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    Mon, 1 Aug 2016

  3. Indian oil tanker cancels shipment from Iran on E.U. pressure

    An oil tanker from India has been forced to cancel a planned shipment from the Iran in an early sign of the potential impact of the new sanctions on the Middle Eastern.

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    Mon, 5 Mar 2012

  4. Death toll expected to rise after massive oil tanker train derailment

    5 people are dead and more than 40 are still missing from Saturday’s train accident.

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    Mon, 8 Jul 2013

  5. Usiminas wins bid to supply steel to Promef oil tanker program in Brazil

    Petrobras reported that Usiminas offered the best price and won the bid for the purchase of 7,700 tons of steel plates to be used to build vessels under the Transpetro Fleet Modernization and Expansion Program (Promef).

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    Fri, 14 May 2010

  6. Oil and Gas News: Canada regulators OK pipeline expansion project

    Canada energy regulators on Thursday recommended approval of a pipeline-expansion project that would dramatically increase the number of oil tankers moving through the waters between the U.S. and Canada.

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    Fri, 20 May 2016

  7. Oil spill in Bangladesh threatens aquatic animals

    Authorities in Bangladesh were urgently assessing environmental damage in one of the world's largest mangrove forests on Friday after an oil tanker sank. 

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    Fri, 12 Dec 2014

  8. Subsea 7 to work with Premier Oil on offshore oil and gas field studies, subsea installations

    Subsea 7 has signed a long-term partnership frame agreement with Premier Oil.

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    Thu, 12 Nov 2015

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