Crude oil pipeline news
World oil demand expected to plateau just below pre-COVID levels
Global oil demand – currently at 89% pre-COVID levels and rising – expected to level off at 92 – 95% of demand prior to pandemic.
EIA forecasts US crude oil production to fall in 2020 and 2021
The EIA forecasts US crude oil production to fall in 2020 and 2021 as efforts to mitigate the spread of COVID-19 continue to affect demand and prices.
Low prices and demand destruction hit pipeline industry
GlobalData reports on the low prices and depressed demand impacting the global oil and gas pipeline sector.
Report to US Congress on crude oil characterisation
The DOE and DOT drafted a report to Congress investigating crude oil characterisation, following the high-profile accidents in 2013 - 2014 involving movement of crude by rail.
The fall of WTI crude oil futures prices below zero
EIA has analysed how low liquidity and limited available storage pushed WTI crude oil futures prices below zero.
Total acquires interests in East African Crude Oil Pipeline
Total acquires Tullow’s entire interests in the Uganda Lake Albert project, including EACOP.
ConocoPhillips is taking further actions to respond to the oil market downturn
ConocoPhillips is to voluntarily curtail 225 000 bpd of oil and reduce 2020 cash uses by an addition US$3 billion.
Transneft settles consequences of Druzhba incident
Transneft settles consequences of incident related to oil contamination in the Druzhba oil trunk pipeline.
Repairs carried out on Russian oil trunk pipelines
Chernomortransneft has performed scheduled repairs at five oil trunk pipelines.
EIA reports on US crude oil production
Annual US crude oil production has reached another record level, growing 11% in 2019, surpassing 12 million bpd.