Oil


TC Energy Halts XL Pipeline Project

BILLINGS, Mont. (AP) The sponsor of the Keystone XL crude oil pipeline pulled the plug on the project after Canadian officials failed to persuade President Joe Biden to reverse his cancellation of its permit on the day he took office....


States Make Effort to Revive XL Keystone Pipeline Project

BILLINGS, Mont. (AP) Attorneys general from 21 states sued to overturn President Joe Biden's cancellation of the contentious Keystone XL oil pipeline from Canada. Led by Ken Paxton of Texas and Austin Knudsen of Montana, the states said Biden had overstepped his authority when he revoked the permit for the Keystone pipeline on his first day in office....


White House Revokes Permit of Pipeline Through Texas

TORONTO (AP) Construction on the long disputed Keystone XL oil pipeline halted as incoming U.S. President Joe Biden revoked its permit on his first day in office. The 1,700-mi. pipeline was planned to carry roughly 800,000 barrels of oil a day from Alberta to the Texas Gulf Coast, passing through Montana, South Dakota, Nebraska, Kansas and Oklahoma....


Contractor to Supply New Pipeline to Permian Basin

ALBUQUERQUE, N.M. (AP) Oil companies in the Permian Basin of Texas and New Mexico need millions of gallons of water to retrieve petroleum. At the same time, the city of Lubbock spends $1 million each year to dispose its treated wastewater at two city farms....


Court Reverses Its Decision on Dakota Access Pipeline

BISMARCK, N.D. (AP) A federal appeals court on Aug. 5 reversed a judge's order that shut down the Dakota Access pipeline pending a full environmental review. The U.S. Court of Appeals for the District of Columbia Circuit sided with pipeline owner Energy Transfer to keep the oil flowing, saying a lower-court judge "did not make the findings necessary for injunctive relief." But the appellate court declined to grant Energy Transfer's motion to block the review, saying the company had "failed to make a strong showing of likely success." The appeals court said it expects the parties to "clarify their positions" in the lower court....


CEO: Crude Oil Prices Could Surge Over 90 Percent to $70

In a recent interview with Markets Insider, Canary Drilling Services CEO Dan Eberhart said that he thinks the U.S. oil market is headed for a "mini-supply shock" with U.S. oil prices braced to rise over 90 percent to $70 a barrel by the fall as the country has "over-cut production." Eberhart said, "When U.S....


New Mexico Oil Drilling Causes Economic Boom

SANTA FE, N.M. (AP) An economic boom in southeast New Mexico has been attributed to skyrocketing oil production. The Albuquerque Journal reported on Aug. 16 that New Mexico's revenue exceeded projected levels allowing lawmakers to authorize a $663-million spending increase for the budget year that started in July....


ExxonMobil Expands Beaumont Plant, Increases Capacity

ExxonMobil has begun construction on a new crude unit at its Beaumont, Texas, refinery that will increase capacity by more than 65 percent, or 250,000 barrels a day. "This project is part of ExxonMobil's larger ‘Growing the Gulf' initiative, a series of refining and chemical expansion projects across Texas and Louisiana," said Emily Russell, ExxonMobil public and government affairs advisor....


New Pipelines to Connect U.S. Rockies, Cushing to Port of Corpus Christi

On June 10, 2019, Phillips 66 announced two separate 50/50 joint ventures to proceed with construction of two new pipelines, the Liberty Pipeline (with Bridger Pipeline LLC) and the Red Oak Pipeline (with Plains All American Pipeline)....


Companies Propose $1.6B Oil Pipeline in N.D.

BISMARCK, N.D. (AP) Two companies are proposing a $1.6 billion pipeline to move North Dakota crude oil, making it the biggest such project in the state since the Dakota Access pipeline that sparked violent clashes between protesters and law enforcement in 2016 and 2017....






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