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Axiall selects partner for US Gulf Coast ethylene project

02/11/2014

Axiall Corp. and South Korean firm Lotte Chemical have entered a 50-50 joint venture for the design, construction, and operation of a proposed 1 million tonne/year ethane cracker to be built in Louisiana.

PNR reports $3.3 billion capex plan for 2014

02/11/2014

Pioneer Natural Resources Co. (PNR), Dallas, reported capital expenditure plans of $3.3 billion for 2014, $2.2 billion of which to be used to target the northern Spraberry-Wolfcamp area the Midland basin of West Texas.

India’s MRPL updates refinery expansion project

02/10/2014

Mangalore Refinery & Petrochemicals Ltd. (MRPL), a subsidiary of Oil & Natural Gas Corp. Ltd., is nearing completion of a long-delayed expansion project at its 194,000-b/d refinery in Mangalore, India.

MARKET WATCH: Crude oil futures finish week higher

02/10/2014

The New York Mercantile Exchange March crude contract jumped $2.04 on Feb. 7, closing at $99.88/bbl. The April contract climbed $2.03 to settle at $99.35/bbl.

ERHC to farmout part of interest in Kenya to CESPA

02/10/2014

ERHC Energy Inc., Houston, has reached a farmout agreement with Spain’s Compania Espanola de Petroleos SA (CEPSA) for 55% stake in Block 11A in northwestern Kenya.

Statoil reports 2013 income of $25 billion, to reduce 2014-16 spending

02/10/2014

Statoil ASA reported its 2013 net operating income was $25 billion along with plans to reduce capital expenditures by more than $5 billion from 2014-16.

Buru loads out first Ungani crude

02/10/2014

Buru Energy Ltd., Perth, has completed its first load-out of Ungani field crude from the Port of Wyndham on Cambridge Gulf in the far north of Western Australia.

Energy exports could help national security, new report suggests

02/10/2014

The US should encourage oil and gas exports as part of a broader strategy that also includes accepting the reality of energy interdependence, taking steps to reduce domestic consumption and diversify supplies, and integrating energy security into strategic policy and military planning, a recent report recommended.

Will Obama finally confront activists over Keystone XL?

02/07/2014

Now that the US State Department has determined completion of the Keystone XL pipeline wouldn’t aggravate climate change, the president logically and at last will approve the border crossing—won’t he?

Mexico hydrocarbon undersecretary vows careful energy regulation, contract transparency

02/07/2014

Mexico’s government realizes it’s crucial to establish competitive contract terms and effective, transparent regulations to attract international investors as Mexico implements its pending energy reforms, panelists told a Houston gathering on Feb. 7.

Baker Hughes: US drilling rig count dips to 1,771

02/07/2014

The US drilling rig count fell 14 units to 1,771 rigs working during the week ended Feb. 7, Baker Hughes Inc. reported.

Phillips 66 advances Sweeney fractionator, Freeport export terminal

02/07/2014

Phillips 66 will build both its Sweeny Fractionator One and Freeport LPG Export Terminal. The 100,000-b/d Sweeny fractionator will be in Old Ocean, Tex., close to the company’s Sweeny refinery, and will supply purity NGLs to the petrochemical and heating markets.

MARKET WATCH: Oil futures price up; spot gas price continues to climb

02/07/2014

The New York Mercantile Exchange March crude contract gained 46¢ on Feb. 6, closing at $97.84/bbl. The April contract added 56¢ to settle at $97.32/bbl.

Tesoro to upgrade rail fleet to newer, more-compliant cars

02/07/2014

Tesoro Corp. unit Tesoro Refining & Marketing Co. LLC (TRMC) reported it will begin to replace older cars in its crude oil rail car fleet with post-October 2011 design, CPC 1232-compliant rail cars, after evaluating rail car safety features.

Baytex to acquire Aurora for $2.6 billion

02/07/2014

Baytex Energy Corp., Calgary, has agreed to acquire Aurora Oil & Gas Ltd., Subiaco, Western Australia, for $2.6 billion, providing Baytex with 22,200 net contiguous acres in the Sugarkane field in the Eagle Ford shale of South Texas.

Noble to farm out part of Leviathan interest

02/07/2014

Noble Energy Inc. has signed a nonbinding memorandum of understanding regarding the sale of 9.66% interest in the Leviathan licenses offshore Israel to Woodside Petroleum Ltd.

Granite Wash gas plant, pipeline start up

02/07/2014

MarkWest Energy Partners LP, Denver, has started up the 200-MMcfd Buffalo Creek cryogenic gas processing plant and associated high-pressure trunk line in the Granite Wash in Hemphill County, Tex.

Washington state debates cutting tax break for refiners

02/06/2014

Washington state lawmakers are reviewing proposed legislation that would do away with a tax exemption currently applicable to refineries operating in the state.

Crosstex adding Permian basin gas gathering capacity

02/06/2014

Crosstex Energy is building a 35-mile, 12-in. OD high-pressure natural gas pipeline, providing Permian basin gathering capacity for its previously announced 60-MMcfd Bearkat gas processing complex in Glasscock County, Tex.

Australian power generator switches from gas to coal

02/06/2014

Queensland state-owned power generator Stanwell Corp. has decided to mothball its largest natural gas-fired electric power station in October for as long as 3 years.

Oxy to ship NGL to Mont Belvieu on idle NuStar products line

02/06/2014

NuStar Energy LP has signed a long-term agreement allowing Occidental Petroleum Corp. to ship NGL on NuStar’s currently idled, 200-mile, 12-in. OD pipeline between Mont Belvieu and Corpus Christi, Tex. NuStar has begun work to reactivate the line, reverse its flow and convert it from refined products service to NGL service.

Senators ask EIA to study crude exports’ gasoline price effect

02/06/2014

US Sens. Maria E. Cantwell (D-Wash.) and Ronald L. Wyden (D-Ore.) asked the US Energy Information Administration for more information on possible domestic gasoline price impacts from allowing more US crude oil to be exported.

Improve federal pipeline permitting process, UTA white paper urges

02/06/2014

Federal oil and gas pipeline permitting processes need to be accelerated and improved if they are to keep pace with rapidly expanding production, a new white paper produced for United Transportation Advisors LLC argued.

Gazprom says gas production from Kirinskoye to start this year

02/06/2014

OAO Gazprom says it will launch commercial gas production this year from the Kirinskoye natural gas-condensate field.

Japanese refinery on schedule to close by end-March

02/06/2014

JX Nippon Oil & Energy Corp., a wholly owned refining and marketing company of JX Holdings Inc. and Japan’s largest refiner, said it is on track to stop crude oil processing altogether at its 180,000-b/d Muroran refinery, on the northern island of Hokkaido.

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