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Lundin spuds exploration well offshore Indonesia

02/17/2014

Lundin Petroleum AB reported its Balqis-01 exploration well is now being drilled in the company's Baronang PSC prospect in the Natuna Sea.

MARKET WATCH: NYMEX crude oil futures ended week above $100/bbl

02/17/2014

US crude oil futures prices on the New York market continued to hover near $100/bbl on Feb. 14 as they had all week, and analysts said March heating oil prices and cash natural gas prices climbed on expectations of an East Coast snowstorm that would keep heating demand high.

Apache reports executive changes

02/14/2014

Houston independent Apache Corp. reported changes to its executive structure.

Baker Hughes: US drilling rig count declines to 1,764

02/14/2014

The US drilling rig count dropped 7 units to 1,764 rigs working during the week ended Feb. 14, Baker Hughes Inc. reported.

House Natural Resources Committee chairman announces retirement

02/14/2014

US House Natural Resources Committee Chairman Doc Hastings (R-Wash.) announced he will retire at yearend. “Last Friday, I celebrated my 73rd birthday and while I have the ability and seniority to continue serving Central Washington, it is time for the voters to choose a new person with new energy to represent them,” he told reporters in Pasco, Wash.

Gasoline price hike far from certain if US exports crude

02/14/2014

Recent price history weakens an argument against easing US restriction of the export of crude oil.

Oxy to spinoff California business

02/14/2014

Occidental Petroleum Corp.’s board has authorized the separation of its California assets into an independent and separately traded company.

Magnum Hunter finds Utica gas

02/14/2014

Magnum Hunter Resources Corp. (MHR), Houston, has reported a dry gas discovery on its first Utica shale well. The Stalder No. 3UH had peak production of 32.5 MMcfd on an adjustable choke with 4,300 psi.

MARKET WATCH: Crude oil futures remain above $100/bbl benchmark

02/14/2014

The New York Mercantile Exchange March crude contract edged down 2¢ on Feb. 13, closing at $100.35/bbl. The April contract gained 13¢ to settle at $100.05/bbl.

Enbridge reports executive appointments

02/14/2014

Enbridge Inc. and Enbridge Pipelines Inc. reported changes to responsibilities of certain senior executives, effective Mar. 1.

ExxonMobil starts production from Damar gas field offshore Malaysia

02/14/2014

ExxonMobil Exploration & Production Malaysia Inc. reported the startup of natural gas production from Damar field, which lies in 55 m of water about 200 km offshore eastern peninsular Malaysia.

Petronas reaches FID on second FLNG, awards contracts

02/14/2014

Malayan state oil company Petronas reached final investment decision (FID) last month for its second floating LNG (FLNG) project, the company said.

Oxy to sell Hugoton field assets for $1.4 billion

02/13/2014

Occidental Petroleum Corp. has agreed to sell its Hugoton field assets to an undisclosed buyer for $1.4 billion. Oxy said it anticipates the transaction will be completed by Apr. 30.

BOEM gives final notice on central, eastern gulf lease sales

02/13/2014

The US Bureau of Ocean Energy Management (BOEM) has given final notice to prospective bidders on the more than 40 million acres made available for oil and gas exploration and development in the Gulf of Mexico.

Repairs to halt production at Hellenic refinery

02/13/2014

Hellenic Petroleum PA plans to temporarily shut down the flexicoker at its 100,000-b/d Elefsina refinery in Elefsis, Greece, for repairs following the discovery of damage to equipment associated with the unit’s gasifier.

Matador provides Permian, Eagle Ford operations update

02/13/2014

Matador Resources Co., Dallas, has provided an update for its operations in the Permian and Eagle Ford basins.

Phillips 66 Partners to acquire assets from Phillips 66

02/13/2014

Phillips 66 Partners LP has acquired Phillip 66’s Gold Product Pipeline System and Medford Spheres, two newly constructed refinery-grade propylene storage spheres, for $700 million. It’s the partnerships’ first acquisition since its initial public offering last July.

Eni discovers wet gas, light oil offshore Congo (Brazzaville)

02/13/2014

Eni SPA has announced that its Nene Marine 3 exploration well has discovered wet gas and light oil in the Marine XII block offshore Congo (Brazzaville).

MARKET WATCH: NYMEX March crude oil rebounds to top $100/bbl

02/13/2014

Crude oil futures prices on the New York Mercantile Exchange topped $100/bbl on Feb. 12 after a weekly US government inventory report showed a reduction in oil volumes stored in Oklahoma, and analysts attributed the draw to the recent opening of a pipeline.

Statoil, partners select concept for Johan Sverdrup field

02/13/2014

Statoil ASA and its partners have chosen a concept for the first development phase of Johan Sverdrup field on North Sea’s Norwegian shelf. It will be a field center consisting of four installations and power from shore, the company reported.

YPF to buy Apache’s Argentina operations for $800 million

02/12/2014

YPF SA has agreed to acquire all of Apache Corp.’s Argentina operations for $800 million plus the assumption of $52 million of bank debt as of June 30, 2013.

Anadarko, Origin drill exploration well in New Zealand’s Canterbury basin

02/12/2014

Origin Energy Resources NZ Ltd. and a unit of Anadarko Petroleum Corp. have started drilling a joint venture exploration well in the Canterbury basin east of New Zealand’s South Island. The drilling operation will take about 40 days and will reach an expected total depth of 9,100 ft subsea in 3,600 ft of water, according to Origin.

Kuwait advances Clean Fuels Project work at refineries

02/12/2014

Kuwait National Petroleum Co. (KNPC) has let a lump-sum engineering, procurement, and construction contract to a consortium of oil and gas service providers led by Petrofac for work related to its Clean Fuels Project (CFP) at its Mina Abdullah and Shuaiba refineries in southern Kuwait.

Miller Energy selects chief financial officer

02/12/2014

Miller Energy Resources Inc., Knoxville, Tenn., has named John M. Brawley as its chief financial officer.

EIA: Short-term global oil supplies face uncertainties

02/12/2014

Global consumption of petroleum and other liquids will rise an average of 1.3 million b/d in 2014 and 1.4 million b/d in 2015, exceeding 93 billion b/d by second-half 2015, according to the most recent Short-Term Energy Outlook released by the US Energy Information Administration.

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