Cushing Oil Hub Filling Up Again and at 81% of Capacity
OK Energy Today, January 25, 2021
In response to a report of rising capacity at the Cushing storage hub in Oklahoma, crude oil future rose to near April 2020 levels—which ultimately forced investors to look elsewhere for storage and depressed intermediate crude pricing.
Oil Rises 1% on U.S. Stimulus Hopes, Supply Concerns
Reuters, January 24, 2021
Oil prices rose slightly amid optimism of yet another U.S. stimulus package, settling at $55.88 a barrel for Brent crude and $52.77 a barrel for West Texas Intermediate on January 24. Pandemic-induced lockdowns continue to mute gains.
Centurion Pipeline L.P.: Announces Augustus Pipeline Is in Service
Market Screener, January 26, 2021
Centurion Pipeline L.P.'s 20"/18" Augustus Pipeline commenced service December1, providing connections for WTI, WTL and WTSR crude from Midland, Texas to Crane, Texas, and about 2 million barrels of storage capacity.
EPA Reduces Regulatory Burden and Emissions from Large Storage Tanks by Allowing Alternative Inspection Method
EPA, January 11, 2021
Using an alternate, less cumbersome method for conducting "in-service" inspections on tanks known as Volatile Organic Liquid Storage Vessels, expanded EPA guidelines offers regulatory flexibility to more than 3,500 petroleum, chemical, and coal products manufacturing facilities, terminals and stations.
IEA Says Oil Market Outlook Clouded by Vaccine Rollout Variables
Reuters, January 13, 2021
Oil producers around the world cut production in response to sagging demand amid rising virus caseloads and uncertain vaccination program rollouts, according to the International Energy Agency.
Max Midstream Agrees to Pump $360 Million Into Calhoun Port's Expansion Plan
Caller Times, January 8, 2021
Max Midstream and Calhoun Port Authority have entered into an agreement that would allow Houston-based Max Midstream to widen the Matagorda Ship Channel to accommodate Aframax and Suexmax vessels by 2023. The $360 million project will give Mid-Coast companies another option for exporting products.