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Hormuz Standoff Continues, Dangote Refinery Rises, EIV Raises $1.1B - Bakken Wire
Pipeline & Infrastructure

Hormuz Standoff Continues, Dangote Refinery Rises, EIV Raises $1.1B

Global pipeline and midstream developments highlight supply risks and investment flows as Bakken operators monitor market impacts.

Bakken Wire Staff·🌅Afternoon Wire·

Tensions in the Strait of Hormuz continued with no sign of peace talks, exacerbating a two-month closure of the critical waterway, according to Rigzone. U.S. President Donald Trump reiterated on Thursday, April 23, that "no ship can enter or leave without the approval of the United States Navy," referring to Hormuz. The standoff has kept the route, which typically ships about a fifth of the world's oil and LNG, effectively shut for an eighth straight week.

The prolonged disruption is tightening global crude supplies and forcing market adjustments. According to OilPrice.com, Nigeria's massive 650,000 barrel-per-day Dangote refinery, running at 94% capacity in March, is sourcing more crude from the Atlantic Basin. The refinery imported an average of 215,000 b/d of U.S. WTI Midland and WTI grades in February and March but is now seeking alternatives like Guyanese crude due to tighter availability as Middle Eastern flows are disrupted.

In investment news, private equity firm EIV Capital LLC raised approximately $1.1 billion to launch two new oil and gas funds on Thursday, Rigzone reported. The firm's Fund V will focus on equity investments in energy infrastructure, including gathering, processing, transportation, and storage. Managing partner David Finan said the fund addresses "a growing need for last-mile solutions for natural gas and power." The other fund, EIV Resources II LP, will focus on acquiring non-operating stakes in U.S. wells.

The capital raise brings EIV Capital's total committed capital under management to about $3 billion. The Houston-based firm's current midstream portfolio includes companies like Bayou Midstream II, Canes Midstream, and Intensity Infrastructure Partners. For Bakken operators, such significant fundraises indicate sustained institutional investor interest in the midstream and non-operated asset space, which can support infrastructure development and provide liquidity for mineral and royalty interests.

The Hormuz blockade, now in its second month, continues to underpin oil prices and global supply concerns. Bloomberg Economics analysts noted the conflict has "entered a new phase centered on the Strait of Hormuz," according to Rigzone. The disruption reinforces the value of stable, non-OPEC crude production from basins like the Bakken, while also potentially increasing competition for Atlantic Basin crude grades that are increasingly in demand from refiners like Dangote.

Source

According to Rigzone and OilPrice.com.

strait of hormuzgeopoliticsmidstreaminvestmentrefiningglobal supplyexports

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