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Enterprise Products Partners on Thursday said its ethane and butane exports could be hurt by a U.S. Department of Commerce requirement that it apply for a license to export to China. The United States has ordered a broad swathe of companies to stop shipping goods, including ethane and butane, to China without a license and revoked licenses already granted to certain suppliers, Reuters reported on Wednesday. Enterprise, which owns and operates marine export terminals that handle ethane and [Read more]

North Dakota has extended its policy on how long producers can leave wells uncompleted after drilling, a move that is expected to help drillers cope with weak oil prices, the state's Department of Mineral Resources said on Thursday. Oil producers around the country have announced plans to drop rigs and delay completing wells as U.S. crude prices have eased to around $61 a barrel, below the average $65 a barrel that most companies require to turn a profit. Currently, producers in North Dakota [Read more]

U.S. crude and fuel inventories all fell last week, while crude imports from Nigeria hit their highest level in nearly six years, the Energy Information Administration said on Thursday. Crude inventories fell by 2.8 million barrels to 440.4 million barrels in the week ending May 23, the EIA said, compared with analysts' expectations in a Reuters poll for a 118,000-barrel rise. U.S. crude exports rose during the week by 794,000 barrels per day (bpd) to 4.3 million bpd, helping push [Read more]