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Enterprise and Energy Transfer Begin Open Commitment Period for Cushing to Houston Crude Oil Pipeline Capacity
Enterprise Products Partners L.P. (NYSE:EPD) and Energy Transfer Partners, L.P. (NYSE:ETP) today announced the start of a binding open commitment period for available capacity on a proposed crude oil pipeline from Cushing, Oklahoma to Houston that would be designed and constructed as part of a 50/50 joint venture between the two partnerships. The 584-mile Double E pipeline would provide up to 450,000 barrels per day (BPD) of takeaway capacity for crude oil currently stranded at the Cushing storage hub because of a lack of southbound pipeline infrastructure. The project would offer shippers greater access to the Gulf Coast refining complex, while providing refiners with a reliable, domestic source of crude oil as an alternative to higher priced imported crude oil that currently represents their largest source of supply. With Midcontinent crude oil production rapidly increasing, supplies from Canada on the rise and the development of shale plays such as the Bone Springs/Avalon, Bakken and Barnett continuing at a strong pace, the new pipeline is expected to remain a key outlet for crude oil bound for the Gulf Coast market.

date.png26 May 2011 10:57 | comments.png 0 Comments | tags.png enterprise oil pipeline usa [ More ]

YPF discovered 150 million barrels equivalent of oil shale resources
YPF reported the discovery of non-conventional oil resources (shale oil) in the Dead Cow training in an area of ​​330 km2, in Loma La Lata, Neuquén province, with an average thickness of 250 meters that contains more than 150 million barrels of oil equivalent potential resources.

date.png11 May 2011 11:25 | comments.png 0 Comments | tags.png argentina oil shale upstream ypf [ More ]

Magellan Midstream Acquires Full Interest in Cushing Storage Joint Venture
Magellan Midstream Partners, L.P. (NYSE: MMP) announced today that it has acquired the remaining interest in a joint venture for the construction of 4.25 million barrels of crude oil storage in Cushing, Oklahoma from the private investors who had been partial owners. As a result, Magellan is increasing its 2011 expansion capital spending estimate to $215 million from its previous estimate of $170 million for the acquisition cost and the partnership now funding the full project.

date.png16 Feb 2011 09:14 | comments.png 0 Comments | tags.png magellan oil storage usa [ More ]

Filling process of Chinese oil pipeline section Skovorodino-Daqing Completed
December 19, 2010 at 8 hours 55 min. was finished filling process of Chinese oil pipeline section Skovorodino-Daqing. Filling commenced on 1 November, according to the schedule in November, the pipeline was pumped 250 million tons of oil in December - 300 thousand tons. Thus, the current pipeline is ready for commercial shipments of Russian oil, which is scheduled to begin on January 1, 2011.

date.png23 Dec 2010 12:21 | comments.png 0 Comments | tags.png china oil pipeline russia [ More ]

New well confirms light oil in western Tupi area, offshore Brazil
BG Group has today confirmed that the eleventh well on the BM-S-11 concession in the Santos Basin, offshore Brazil, was successful.

date.png16 Dec 2010 09:11 | comments.png 0 Comments | tags.png bg-group brazil offshore oil petrobras pre-salt tupi upstream [ More ]

Chevron and Other Shareholders Sanction Caspian Pipeline Expansion
Chevron Corporation (NYSE:CVX) today announced that the shareholders and governing bodies of the Caspian Pipeline Consortium (CPC) have unanimously approved the $5.4 billion expansion of the Caspian pipeline. The capacity of the 900-mile (1500 km) pipeline, which carries crude oil from Western Kazakhstan to a dedicated terminal in the Black Sea, will increase to 1.4 million barrels per day from its current capacity of 730,000 barrels per day.

date.png15 Dec 2010 12:21 | comments.png 0 Comments | tags.png chevron cpc kazakhstan oil pipelines russia [ More ]

Saratov Oil Refinery Launches Production of Euro 3-Standard Fuel
The Saratov Oil Refinery (a subsidiary of TNK-BP) has begun producing gasoline and diesel fuel certified for conformance with Euro 3 standards as part of a long-term TNK-BP program to improve the quality and expand the range of its products.

date.png25 Nov 2010 06:35 | comments.png 0 Comments | tags.png oil refinery russia saratov tnk-bp [ More ]

Rosneft Started Oil Deliveries to ESPO Pipeline to China
Today at 8:03 a.m. Moscow time the oil, produced by Rosneft ventures and delivered to East Siberia – Pacific Ocean (ESPO) Trunk Pipeline has crossed the Russian-Chinese border via the pipeline branch and arrived to the border town of Mohe.

date.png04 Nov 2010 06:22 | comments.png 0 Comments | tags.png china espo oil pipeline rosneft russia [ More ]
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