Energy Transfer takes the rare step of invoking force majeure to prevent oil firms from walking away from the controversial North Dakota pipeline expansion, sources say via lailakearney Devikakrishnak
) has taken the rare step of invoking force majeure - normally used in times of war or natural disaster - to prevent oil firms from walking away from a proposed expansion of the controversial Dakota Access pipeline, according to two sources familiar with the matter.
DAPL is the largest pipeline running out of North Dakota’s Bakken shale basin. It has capacity to ship 570,000 barrels per day of crude to its endpoint in Illinois. Users say an expansion to 1.1 million bpd is unlikely to be filled because the state’s production is not expected to rebound soon. The company declined to comment on the force majeure. Energy Transfer spokeswoman Lisa Coleman reiterated previous company statements that it has received enough interest to increase the pipeline’s capacity.
North Dakota’s production has dropped by 450,000 bpd, down from a peak of nearly 1.5 million bpd reached last year, according to the Energy Information Administration’s data.At least a half-dozen U.S. oil pipeline projects have been put on hold indefinitely so far this year, according to U.S. Energy Department data. U.S. production has dropped from a record 12.9 million bpd in late 2019 to roughly 11 million bpd.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
How To Rebuild The Economy And Create Jobs With Clean Energy InnovationWe could not get through this pandemic – or run our national or global economies – at all without energy. How do we maximize this crisis? We rebuild the economy with a different set of principles, including an integrated clean energy program.
Lire la suite »
The 21 rising stars who are transforming the future of clean energy - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Lire la suite »
Hidden wine cave, $110 million parking bill: Energy collapse wasn't only thing that sank ChesapeakeThe fracking giant's bankruptcy filing followed an accounting mess at the company that included no budgets, a massive wine collection and a nine-figure bill for parking garages.
Lire la suite »
Meet the 21 emerging leaders transforming the future of clean energy - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Lire la suite »
Chesapeake Energy gets bankruptcy court approval for $925 million DIP loanChesapeake Energy Corp. said Tuesday a bankruptcy court has approved its $925 million debtor-in-possession financing, a special loan used in bankruptcy proceedings that the company secured from lenders under its revolving credit facility. The pioneer in fracking filed for Chapter 11 protection on Sunday. The U.S. Bankruptcy Court for the Southern District of Texas also approved a variety of "first-day" relief, allowing it to pay owner royalties, employee wages and benefits and to pay certain vendors and suppliers. The company will use the bankruptcy process to bolster its balance sheet and restructure debt to get to a more sustainable capital structure. The company said in its bankruptcy petition that it has $16.2 billion in assets and $11.8 billion in debt.
Lire la suite »
Pentatonix Delivers High-Energy 'Blinding Lights' VideoOn Wednesday (July 1), the quintet released the fun video for their rendition of The Weeknd&39;s &34;Blinding Lights.&34;
Lire la suite »