Oil and gas industry math has been reset
Dec. 28, 2020
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Deloitte’s Oil and Gas Industry Outlook 2021 finds oil supplies uncertain beginning in 2025 because of a decline in exploration spending, meaning storage tanks could be emptier five years from now.Plains All American Pipeline
Energy companies can expect an uncertain path in 2021 as the COVID-19 pandemic has altered expectations for the near future.
Deloitte LLP recently released its Oil and Gas Industry Outlook for 2021, and topping the outlook was discussion of an oil supply crunch. Duane Dickson, vice chairman and U.S. oil, gas and chemicals leader at Deloitte discussed the findings via email with the Reporter-Telegram.
“The plain language of Nationwide Permit 12 does not allow for the construction of pipelines near drinking water intakes,” said the letter. In addition, the letter urged the Corps to determine that the project is contrary to the public interest because it would unjustly burden vulnerable communities like Boxtown, which already is heavily built up with industrial facilities like a Valero Energy oil refinery and a retired coal plant plagued with extensive coal ash contamination.
“We’re alarmed that, so far, no local, state or federal agency is looking out for the groundwater that serves as Memphis’s drinking water,” said Senior Attorney George Nolan. “If this oil pipeline leaks or spills, as many have done before, it could have devastating effects on the residents that live in southwest Memphis and their drinking water source.”
Environmental Groups Oppose Pipeline Project memphisflyer.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from memphisflyer.com Daily Mail and Mail on Sunday newspapers.
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Enbridge Inc. has been filling in the pieces of a pipeline puzzle that will allow it to move hundreds of thousands of barrels of additional oil per day to the Gulf Coast in the coming years.
The company confirmed it is waiting until next year to bring its Southern Access pipeline expansion into service. At that time, its under-construction Line 3 replacement project will be operational and transporting an additional 370,000 barrels of Canadian oil into the U.S.
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Try refreshing your browser, or How a pipeline replacement, expansion and reversal give oil producers new route to Texas Back to video
Vinson & Elkins Names 5 New Partners
HOUSTON, Dec. 15, 2020 /PRNewswire/ Vinson & Elkins announces the promotion of five lawyers to its partnership, effective January 1, 2021: Matt Falcone in Houston; Katherine Frank in Dallas; Jessica Peet in New York; Quentin Smith in Houston; and Emilie Stewart in London. We are pleased to recognize the excellent client service these lawyers provide on complex transactions and disputes, V&E Chairman Mark Kelly said. They have shown adaptability and creativity through challenging times and we appreciate their dedication to the firm s success.
The new partners represent five of the firm s key practice areas: complex commercial litigation, energy transactions and projects, finance, mergers and acquisitions and capital markets and restructuring and reorganization.