Saudi Arabia has restarted operations at its East-West Pipeline and could resume exports from the Red Sea port of Yanbu later on Tuesday, three sources briefed on the matter said. The pipeline was pumping at a low rate, two of them said. State energy firm Saudi Aramco did not immediately respond to a request for comment. Drone attacks forced Saudi Arabia to shut its East-West Pipeline on September 13, halting crude loadings at the kingdom's Yanbu port. (Reporting by Nidhi Verma in [Read more]
North Dakota oil output seen rising in August, state regulator says
North Dakota crude oil production is expected to have climbed in August and maintain momentum in the following months as sustained drilling activity and robust crude prices support output across the state, the state Department of Mineral Resources said on Monday. Output in the United States' third-largest oil-producing state rose marginally by 1,846 barrels per day to reach an average of 1.157 million bpd in July, according to the latest available production data released by the [Read more]
Canada sees scope for France LNG partnership, minister says
Canada could pursue an energy partnership with France involving liquefied natural gas from its Pacific coast, Canadian Foreign Minister Anita Anand said on Monday, a day after leaders of the two countries met and discussed energy cooperation. Anand said it was "quite conceivable" for Canada to execute an energy partnership with a European country using LNG exported from Canada's west coast. "That goes for France," she said in an interview on the sidelines of the annual gathering of world [Read more]
Canada aims to slash time needed to review major projects
Canada on Monday unveiled draft legislation that would speed up the approval process for major natural resource projects, a goal Prime Minister Mark Carney says is necessary to help deal with US tariffs. Carney says Canada has to cut back on obstacles to growth, in particular streamlining a complex approval process for major projects that can drag on for a decade or more. The bill says the time can be cut to a year, in part by conducting federal impact assessments and permit reviews [Read more]
North Dakota oil production up 2,000 bpd in July vs June to 1,157,000 bpd – state regulator
Oil production in North Dakota rose 2,000 barrels-per-day (bpd) to 1,157,000 bpd in July, monthly data from the state Industrial Commission showed. Bakken and Three Forks oil production stood at 1,129,000 bpd in the month. The data was released on the North Dakota Industrial Commission's general statistics webpage and has been rounded to the nearest 5,000 barrels. It may differ slightly from the commission's monthly index report, also available on its website. [Read more]
Oil stocks in US strategic petroleum reserve fall to lowest level since 1982
Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell to 284.6 million barrels last week, the lowest level since October 1982, according to data from the Department of Energy. The drawdowns are part of a U.S. agreement to release 172 million barrels from the facility. (Reporting by Anjana Anil in Bengaluru Editing by Nick Zieminski) [Read more]
Goolsbee: Clear ‘what has to happen’ if inflation does not decline
Chicago Fed president Austan Goolsbee said he is open to the possibility that inflation will begin declining to the 2% target, but if that does not happen interest rates will need to rise. "Right now, we do not have an employment problem, and we do have an inflation problem," Goolsbee said. "I'm open to being shown that the inflation problem we have is not a persistent problem, but is coming from a supply shock that is going to go away. But I want to see the evidence that it's going away. [Read more]
Houthis push for control of Yemen highlands as Trump reported to have called off airstrikes
Houthi fighters were pushing to seize strategic heights in Yemen on Monday to cut off the Red Sea coast from remaining areas held by Saudi-backed forces, after a report that President Donald Trump had called off US strikes on the group at the last minute. A lightning advance by the Iran-backed group this month has extended the wider Middle East conflict to a new theatre and further threatened global energy supplies. Washington has so far rebuffed repeated pleas from Saudi Arabia's Crown [Read more]
LNG buyers and sellers seek greater supply diversity amid Iran war
LNG buyers are looking to diversify sourcing as the US-Israeli war against Iran cuts Gulf shipments, with importers seeking alternatives for the fuel from other suppliers ranging from West Africa to Indonesia. While Asian governments look to lock in LNG from sellers with access to various sources, producers and trading firms want to widen supply pools by taking stakes in gas projects and buying from different countries, officials and industry executives said during last week's Gastech [Read more]
Hormuz shuttles keep oil flowing, but at a high cost: Bousso
A new shuttling system is reshaping the Middle East oil market, as producers seek to keep exports flowing despite the escalating regional conflict. The question now is whether this complex, expensive process is a stopgap measure or the global energy market’s new normal. Several miles off Oman's coast, south of the Strait of Hormuz, rows of tankers lie at anchor. Many sit alongside each other, connected by ropes and hoses as they transfer crude from one vessel to another, creating a floating [Read more]
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