Tag: Cushing

Anadarko buys into Colorado-to-Cushing pipeline project

The Woodlands-based firm said Wednesday it has purchased a 20-percent stake in the pipeline company building the 550-mile Saddlehorn pipe, which is expected to start piping oil from the DJ Basin to the oil hub in Cushing in the middle of next year.  More »

Crude inventories at their highest level in decades after another build

Total crude oil inventories now stand at 444.4 million barrels, a modern-era high.  More »

US running out of room to store oil; price collapse next?

If record production in the U.S. keeps up, storage tanks could approach their operational limits, known in the industry as “tank tops,” by mid-April and send the price of crude — and probably gasoline, too — plummeting.  More »

Magellan Midstream and Plains All American plan crude line from Colorado

Plains and Magellan indicated that the new line would be supported by binding commitments from producers Noble Energy and Anadarko Petroleum Corp.  More »

Crude oil flowing into Cushing, Oklahoma, worth billions

As oil prices have plummeted over the last several months, the U.S. Energy Information Administration said companies have stockpiled about 2.2 million barrels a week at Cushing.  More »

Pioneer’s chairman and CEO: Exporting oil could equate to more jobs, production and investment

Lifting the ban now would be less painful for consumers because if gasoline prices were to rise, the increase wouldn’t be as much, Scott Sheffield said.  More »

Commentary: the US crude conundrum

The current US oil market is in the midst of a slugfest reminiscent of a Rocky fight, as competing influences face off against one another, says Voices poster Matt Smith.. In one corner we have rising US shale oil production, while in the opposing corner we have a precipitously falling rig count.  More »

Oil price slides again as crude inventories rise

Crude oil fell Wednesday after an unexpected build in crude oil inventories indicated a production slowdown may be further off than traders previously thought.  More »

Oil speculators bet wrong as rebound proves fleeting

After rising as analysts speculated prices had reached a floor, WTI sank again after stockpiles climbed nationally.  More »

Permian crudes weaken after Sunoco pipeline spill

Crude extracted from the largest U.S. oil field weakened against the U.S. benchmark after producers lost access to Midwest markets when a 4,000-barrel spill in Louisiana forced the shutdown of a key pipeline.  More »

New pipelines to end Midland crude discount in coming months, analyst says

The BridgeTex pipeline began its first shipments of oil from the Permian Basin to the Gulf Coast, in what could be an important step toward bringing oil prices in the Midland region back toward parity with the U.S. benchmark set in Cushing, Oklahoma.  More »

Oklahoma oil hub getting bigger with new pipelines

New pipeline projects are expanding the size of an Oklahoma crude oil hub that is already one of the most important oil storage facilities in the world.  More »

Enterprise and Kinder Morgan to gauge demand for new pipelines

Enterprise Product Partners and Kinder Morgan Energy Partners are evaluating demand for two proposed two new pipelines serving the Utica region in Ohio and the Williston Basin region of North Dakota.  More »

Plains All American to build pipeline from Cushing to Memphis

Houston-based Plains All American Pipeline LP said Thursday it plans to build a pipeline that would deliver as much as 200,000 barrels a day of crude oil to Valero’s Memphis plant when it’s completed in late 2016.  More »

Crude prices rise as supply dips

Oil prices generally rebounded Wednesday as a report by the U.S. Energy Information Administration indicated that supplies of crude oil fell through the week ending Aug. 15.  More »
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