Industry News

Storage and Transportation

Lower 48 Holds Enough DUCs to Extend Operations Deep into 2021
A substantial inventory in the Lower 48 of drilled but uncompleted wells, aka DUCs, could sustain drilling, without adding more wells, long into the coming year, according to a new analysis After DUCs run out, however..

Transparency, Environmental Concerns Surround Proposal To Barge Oil And Gas Waste On The Ohio River
A proposal to repurpose a docking facility near Marietta, Ohio, to allow for the barging of oil and gas drilling waste on the Ohio River is drawing concern from environmental groups and local residents. Ohio-based.....

Oil Tankers Off Chinese Coast Signal Rapid Rebound
Queues of tankers have formed off China’s busiest oil ports as the vessels wait to offload crude for refineries that are quickly ramping up production amid a rapid rebound in fuel demand. Two dozen or more crude-laden..

Port of Corpus Christi adding 17 million barrels of crude oil storage
The Port of Corpus Christi will have 17 million barrels of additional oil storage by August as record low commodity prices have producers desperate to find a place to store their crude until prices rise.In total, six...

Crude oil held in sea storage hits new record at 160 million bbls
Traders are storing an estimated record 160 million barrels of oil on ships - double the level from two weeks ago as they seek to tackle a glut of stocks created by a slide in global demand from the coronavirus, shipping

Traders Eyeing Rail Cars for Oil Storage
Oil companies are turning to rail cars to stash the crude they can’t sell, as the world runs out of places to store a growing glut of cheap barrels. North American producers, refiners and traders are now looking to store

Alberta plans to buy 7,000 railcars to ease 'crisis' in oil price differentials
Alberta needs to buy as many as 7,000 railcars if it wants to be able to meet its goal of shipping an additional 120,000 barrels of oil a day, says Premier Rachel Notley.

Oil-by-rail reaches record levels in May — on track to rise higher still amid pipeline crunch
Canadian shipments of oil via rail have hit an all-time record high, and analysts expect shipments to go higher amid a pipeline crunch. New data from the National Energy Board shows Canadian oil companies shipped an...

U.S. crude stocks fall unexpectedly as net imports hit record low: EIA
U.S. crude oil stockpiles fell unexpectedly last week as net imports dropped to a record low due to a surge in exports, while inventories at the key storage hub in Cushing, Oklahoma continued to slide, the Energy....

U.S. Oil Exports Go Up a Gear as Supertanker Sets Sail for China
The flood of U.S. oil exports stepped up a gear on Monday after the first fully laden supertanker sailed from an American port, alleviating a bottleneck that’s limited overseas shipments.

Canadian Pacific eyeing signs of life in crude by rail shipments
Canadian Pacific Railway Ltd sees shipments of crude by rail "coming alive a little bit," Chief Marketing Officer John Brooks said, signaling a pickup in a business that had been hurt by low energy prices and competition

Investment analysis for oil terminals
Channoil Consulting's Charles Daly provides an overview of some of the key factors investors look for when considering a terminal transaction The logistics of the oil industry depend, to a material extent......

British Columbia approves oil pipeline to coast from Alberta
Canada's Pacific Coast province of British Columbia on Wednesday approved the expansion of Kinder Morgan's Trans Mountain pipeline from the Alberta oil sands that would allow oil exports to Asia. British Columbia Premier

Rolls-Royce predicts robotic ships will be on the water by 2020
In 2014, Rolls-Royce unveiled its vision of the robotic cargo ship of the future that it believes will become a reality by 2020. This week at the Autonomous Ship Technology Symposium 2016 in Amsterdam, the Rolls-Royce...

How a small Oklahoma town copes with full crude tanks
From the air above this small Oklahoma town, the 300 steel oil storage tanks that dot the landscape appear filled to the brim, their floating lids bobbing atop more than 65 millions of barrels of oil.

Oil Tanker Rates Rise Above $100,000 A Day
For the first time since 2008, the world’s largest crude oil tankers earned more than $100,000 a day, amid speculation that a rise in Chinese bookings is reducing the number of vessels that are left available for charter

Oil Storage Tanks Filled To Levels Not Seen In 80 Years
North American oil prices could take a hit this fall as there are renewed concerns about a lack of storage capacity. A recent report by the U.S. Energy Information Agency suggests crude oil inventories "remain near.....

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