MARKET WATCH: Oil markets negative after big drop in previous session
04/17/2013
Oil markets generally were down Apr. 16 with front-month crude essentially flat after dropping to its lowest price of the year in the previous session on the New York market and North Sea Brent closing below $100/bbl for the first time since July. |
Rosneft, Marubeni sign agreement for joint oil, gas E&D
04/17/2013
Rosneft and Marubeni Corp. signed a memorandum of cooperation covering possible joint oil and exploration and development as well as associated LNG project implement, the companies reported. |
New UAE energy minister seeks energy efficiency
04/17/2013
Concerned about rising domestic oil consumption, the new minister of energy of the United Arab Emirates has called for national-level improvements in energy-use efficiency. |
DOE, Alaska DNR to study Arctic unconventional energy resources
04/17/2013
The US Department of Energy’s Fossil Energy Office and Alaska’s Department of Natural Resources agreed to work together along with potential investors to study unconventional energy resources in Alaska’s Arctic. |
Texas: Crimson updates Woodbine, Buda drilling
04/17/2013
Crimson Exploration Inc., Houston, said the second Woodbine oil well in its 2013 capital program came on line at 984 b/d of oil, 437 Mcfd of gas, and 86 b/d of natural gas liquids on a 26/64-in. choke. |
Africa Oil adds Dingley to Ethiopia, Somalia positions
04/17/2013
Africa Oil Corp., Vancouver, BC, said that Mark Dingley will join the company on May 1 as president of Africa Oil Ethiopia BV and chief operating officer of Horn Petroleum Corp. |
House panels discuss Terry’s Keystone XL authorization bill
04/16/2013
A second US House subcommittee heard testimony in support of a bill to let Congress approve the proposed Keystone XL crude oil pipeline project as the first, which held a hearing on Rep. Lee Terry’s (R-Neb.) measure on Apr. 10, marked up HR 3 for consideration by the full Energy and Commerce Committee. |
Williams Partners, Shell form midstream JV
04/16/2013
Williams Partners LP, Tulsa, and Royal Dutch Shell PLC have joined to form Three Rivers Midstream, a company to provide gas gathering and gas processing for production in northwest Pennsylvania. The venture will invest in both wet-gas handling infrastructure and dry-gas infrastructure serving Marcellus and Utica shale wells. |
LNG17: Speakers urge industry toward more openness, cooperation
04/16/2013
Calls for more and better cooperation between global LNG suppliers and market countries pervaded opening remarks from some of the world’s leading players at the first day of the 17th International Conference & Exhibition of Liquefied Natural Gas (LNG17), Houston. The 4-day event convenes every 3 years. |
Chatham House report warns against expansion of UK biofuels
04/16/2013
A London think tank study warned against expansion of biofuel use in the UK as the requirement rose to 5% by volume in transportation fuel on Apr. 15 and faced European pressure to increase further. |
MARKET WATCH: Crude hits lowest level of year in New York market
04/16/2013
Energy prices plunged Apr. 15 for the third consecutive session with the front-month crude contract dropping 2.8% to its lowest closing this year. |
DOE: Utah company’s heavy oil technology licensed to Calgary firm
04/16/2013
A Utah company’s technology that uses an alkali metal in combination with hydrogen or methane to remove sulfur, nitrogen, and metals from bitumen and other heavy oils has been licensed to a Calgary upgrading company, the US Department of Energy announced. |
Montemurro joins Sunshine Oilsands Ltd.
04/16/2013
Mark Montemurro has joined Sunshine Oilsands Ltd., Calgary, as senior vice-president, engineering and geosciences. |
Samson Oil & Gas boosts central Bakken formation holdings
04/16/2013
Samson Oil & Gas Ltd. agreed to acquire a net 1,225 acres in two drilling units in the Rainbow Project, Williams County, ND, involving the Bakken and Three Forks formations. |
MEPs reject reform of carbon emissions trading scheme
04/16/2013
Members of the European Parliament (MEPs) defeated a proposal that was intended to stop falling prices of carbon in the carbon-emissions trading scheme through a reform known as backloading. |
Plains All American to build Permian crude pipeline
04/16/2013
Plains All American Pipeline LP is building the Cactus Pipeline, a 310-mile, 20-in. OD crude oil pipeline in Texas from McCamey in Upton County to Gardendale in LaSalle County. |
CSB draft report says neglect led to Chevron Richmond refinery fire
04/15/2013
A failure to apply an inherently safer design, identify and evaluate damage mechanism hazards, and use effective safeguards led to an Aug. 6, 2012, pipe rupture and vapor release that ignited and shut down the No. 4 crude oil unit at Chevron USA Inc.’s Richmond, Calif., refinery, the US Chemical Safety Board said in a draft report. |
E.On group starts up UK North Sea Huntington field
04/15/2013
A group led by E.On Ruhrgas UK E&P Ltd. has started oil production from Huntington field on Block 22/14b in the UK Central North sea 140 miles northeast of Aberdeen, Scotland. |
Rosneft to buy stake in Sardinian refiner
04/15/2013
A Rosneft subsidiary has agreed to buy a large minority stake in Saras SPA, which operates a 300,000 b/d, high-conversion refinery in Sarroch, on the southwestern coast of Sardinia. |
Manifa oil flow starts offshore Saudi Arabia
04/15/2013
Production has begun from the first phase of development of Manifa oil field offshore Saudi Arabia and is expected to reach 500,000 b/d by July. |
Chevron, Chubu Electric sign Wheatstone LNG agreements
04/01/2013
Chevron Corp. has signed a binding long-term sales and purchase agreement with Chubu Electric Power Co. for Chubu to take 1 million tonnes/year of LNG from the Wheatstone project off Western Australia. The uptake will be for 20 years. |