Category Archives: Industry News

ConocoPhillips tells U.S. Chamber of Commerce members that crude oil exports can help sustain the domestic benefits of the energy renaissance

ConocoPhillips (NYSE: COP) chairman and CEO Ryan Lance today delivered an energy policy speech at the U.S. Chamber of Commerce that appealed to the congressional and executive branches of federal government to lift the outdated and economically constraining national ban on crude oil exports. In his remarks, “American Energy: Keeping…

Plains All American Pipeline acquires Williston Basin crude oil terminal under construction

Plains All American Pipeline, L.P. (NYSE: PAA) today announced Friday it has acquired Legion Terminals, LLC, which owns a crude oil terminal under construction in Johnson’s Corner, McKenzie County, N.D. The terminal, which is expected to be in service in Q3 2015, is strategically positioned to serve as a crude…

Pembina Pipeline Corporation to expand Vantage Pipeline

Pembina Pipeline Corporation (TSX: PPL; NYSE: PBA) announced that it has entered into agreements to expand the Vantage pipeline system for an estimated capital cost of $85 million. The Vantage Expansion entails increasing Vantage’s mainline capacity from 40,000 barrels per day (“bpd”) to approximately 68,000 bpd through the addition of mainline…

Kinder Morgan to acquire premier midstream position in Bakken

Kinder Morgan, Inc. (NYSE: KMI) today announced a definitive agreement whereby KMI will acquire Hiland Partners (Hiland) from its founder, Harold Hamm, and certain Hamm family trusts, for a total purchase price of approximately $3 billion, including the assumption of debt. Hiland’s assets, which are mostly fee based, consist of crude…

Regulations limit U.S. demand response to lower oil prices

The ability of the U.S. fuels market to respond to lower oil prices is expected to be capped over the long-term due to fuel market regulations meant to limit domestic demand for conventional refined fuels, according to Fitch Ratings. These measures include rising renewable fuel requirements under the Energy Independence…

Fitch: Oil drop may slow U.S. LNG, weaken economics

The recent nearly 50 per cent drop in oil prices may slow the momentum behind the development of U.S. liquefied natural gas (LNG) facilities, according to Fitch Ratings. Oil price declines have weakened global LNG prices and could increase Henry Hub gas pricing, weakening current U.S. LNG project economics. Traditional…