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Removing crude oil export ban would raise product prices, study finds

Mon, Jul 27, 2015

Ending the decades-old ban on exporting US-produced crude oil would raise prices by $3/bbl and increase product prices, a study commissioned by Consumers and Refiners United for Domestic Energy (CRUDE) concluded.

Excelerate gets FERC okay for Aguirre offshore GasPort project

Mon, Jul 27, 2015

Excelerate Energy LP, The Woodlands, Tex., has been granted authorization by the US Federal Energy Regulatory Commission, in cooperation with the Puerto Rico Electric Power Authority, to site, construct, and operate the proposed Aguirre Offshore GasPort Project offshore Puerto Rico.

Egypt advances refinery modernization projects

Mon, Jul 27, 2015

Egypt has finalized a series of joint agreements with a subsidiary of Technip SA, Paris, to provide work on projects designed to upgrade and modernize operations at two of the country’s aging refineries.

Encana books impairment charge, maintains 2015 budget

Mon, Jul 27, 2015

Encana Corp., Calgary, reported a $1.3 billion impairment charge for the second quarter, which executives said reflected a decline in oil and natural gas reserves values because of lower commodity prices. Overall Encana reported a second-quarter loss of $1.6 billion.

First bidding round showed Mexico reform challenges, House panel told

Mon, Jul 27, 2015

An apparently disappointing first round of bids for oil and gas exploration rights revealed problems that require attention if Mexico’s dramatic energy policy reforms are to succeed, witnesses told a US House Foreign Affairs Committee subcommittee (OGJ Online, July 16, 2015).

Rig counts are up where plans focus on the long term

Mon, Jul 27, 2015

Rig counts plummet except where they don't.

Russia's NefteGazIndustriya advances refinery modernization

Mon, Jul 27, 2015

NefteGazIndustriya LLC, through a project developer, has let a contract to CB&I, Houston, to provide equipment for work related to the modernization of its 5.25 million-tonne/year Afipsky refinery at Krasnodar, Russia.

Cidade de Marica FPSO arrives in Brazil for module integration

Mon, Jul 27, 2015

Petroleo Brasilierio SA (Petrobras) reported that the Cidade de Marica floating production, storage, and offloading vessel is berthed at Brasa shipyard in Niteroi, Rio de Janeiro state, Brazil for module lifting and integration following a 19,678-km trek from China.

ConocoPhillips plans further capex reduction for deepwater exploration

Mon, Jul 27, 2015

ConocoPhillips reported plans to further reduce its capital expenditures for deepwater exploration, with the "most significant reductions" coming from its operated program in the Gulf of Mexico. The company did not specify by how much capex would be reduced, however.

Centrica to boost gas production from Morecambe Bay

Mon, Jul 27, 2015

Centrica PLC reported a project to boost gas production from Morecambe Bay in northwest England (OGJ Online, Jan. 31, 2012).

MPLX, MarkWest to merge in $15.8 billion deal

Mon, Jul 27, 2015

MPLX LP, a Findlay, Ohio-based master limited partnership (MLP) formed by Marathon Petroleum Corp. in 2012, and Denver-based MarkWest Energy Partners LP have agreed to a unit-for-unit merger deal in which MarkWest will become a wholly owned subsidiary of MPLX.

Watching Government: Latvia's gas challenges

Mon, Jul 27, 2015

Latvia reclaimed its independence when the Soviet Union broke up in 1991.

DOE official: LNG exports could be limited by silt-clogged waterways, ports

Mon, Jul 27, 2015

Silt, which is increasingly filling US waterways and ports, potentially could limit US LNG exports if it is not dredged soon, a top US Department of Energy official warned.

OIG report: EPA needs to improve oversight of fracing with diesel

Mon, Jul 27, 2015

The US Environmental Protection Agency needs to improve its oversight of hydraulic fracturing using diesel fuels and address any compliance issues, EPA's Office of Inspector General (OIG) said.

Michigan DEQ report urges ban of heavy oils in Mackinac Straits pipeline

Mon, Jul 27, 2015

Michigan's Department of Environmental Quality's Petroleum Pipeline Task Force issued a report that recommended that heavy crude and oil sands be kept out of an Enbridge Inc. pipeline that crosses the Mackinac Straits between Lakes Huron and Michigan.

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