Crude oil
US energy independence not necessary to reach energy security – report
Deloitte Center for Energy Solutions recently released a report titled, "Energy independence and security: A reality check," that examines whether or not energy independence is necessary to achieve energy security. Deloitte contends that the answer is "probably no."
Midstream processors reap benefits as US targets liquid shale plays – PwC
There were nine midstream deals that contributed $11.1 billion. According to PwC, there has been a rise in midstream processing deals during 2012 due to the oil and gas liquids being extracted from the shale plays and as companies think through the various scenarios that may play out with exports.
French union calls for 24-hour worker strike at all refineries, oil terminals
The workers at all the refineries in the country will walk out Nov. 5 to protest against the order of a local court to liquidate the refinery of Petit-Couronne, on the northern French coast, which belonged to insolvent Swiss-based refiner Petroplus SA, unless a buyer for the plant appears by then.
NGL profitability weakens amid rising US supply
Prices for natural gas liquids (NGLs) have dropped precipitously this year amid growing supplies, weakening margins for a key driver of US shale development. But extracting NGLs, such as ethane, propane and butane remains more attractive than producing dry natural gas, the report says.
Rosneft to buy entirety of Russian TNK-BP venture
A Rosneft takeover of TNK-BP would bring the Russian state's control over oil production to nearly 50% and mark a major milestone in Mr. Putin's reassertion of Kremlin control over the strategic oil sector, much of which was sold off in the privatizations of the 1990s to well-connected tycoons.
API sees falling US demand for gasoline, distillates
Demand for gasoline dropped 2% from a year earlier, to 8.572 million bpd, the API said. The nine-month average demand of 8.73 million bpd was down 0.7% from the same time in 2011. September demand for distillate fuel (heating oil/diesel) was 4% below the year-earlier level, at 3.777 million bpd.
TransCanada shuts Keystone oil line to inspect pipe
The anomaly, found in a section of the pipeline in Missouri, wasn't a leak, a TransCanada spokesman said. The stoppage was taken as a preventative measure and wouldn't affect the oil shipments to customers "for now," and TransCanada was working with shippers to mitigate any interruptions.
BP nears deal to sell stake in TNK-BP crude venture to Russia's Rosneft
TNK-BP has been one of BP's best investments, returning $19 billion in dividends on the roughly $8 billion paid for its 50% stake in 2003. The venture accounts for nearly a quarter of BP's reserves and production. But tensions with AAR over strategy and governance have plagued the venture for years.
Murphy Oil to spin off US downstream business
Murphy Oil on Tuesday said it expects to complete the spinoff of Murphy USA in 2013. Murphy USA’s business will consist of retail marketing of petroleum products, a chain of retail gasoline stations, seven product distribution terminals and two ethanol production facilities in North Dakota and Texas.
Canada seeks more energy exports to India, less dependence on US
Canada's search for alternative destinations, including India, China and Japan, for its trove of hydrocarbon resources coincides with India seeking stable supplies of oil and gas to augment its own, relatively limited, energy resources, which currently satisfy less than a quarter of its requirement.
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