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BOEM schedules western gulf Lease Sale 238

07/17/2014

The US Bureau of Ocean Energy Management (BOEM) has scheduled western Gulf of Mexico Lease Sale 238 for Aug. 20 in New Orleans, where it will offer 21.6 million acres offshore Texas for oil and gas exploration and development.

BLM director: Fee system needed for increased onshore well inspections

07/17/2014

A shortage of inspectors, reduced budgets, and a record number of wells on public lands make the US Bureau of Land Management’s budget request for a fee system to increase its oil and gas inspection capacity necessary, BLM Director Neil Kornze said.

Croatia issues tenders for onshore acreage

07/17/2014

With an eye on Hungary’s growing onshore development, Croatia has announced the first of three tenders for onshore exploration.

Ineos secures loan guarantee for Grangemouth upgrade

07/17/2014

Ineos AG, Switzerland, has secured a £230 million loan from the UK government that will allow the company to move forward with a planned upgrade at its 210,000-b/d Grangemouth, Scotland, refinery and petrochemical complex.

Mistral starts construction of Saskatchewan NGL plant, pipeline

07/17/2014

Mistral Midstream Inc., Calgary, reported the start of construction work on a 60-MMscfd deep-cut gas processing and NGL extraction facility, a 105-km ethane pipeline, and a 75-km gas gathering pipeline near Midale, Sask.

API: US petroleum demand up in June, second quarter

07/17/2014

Total US petroleum deliveries, a measure of demand, rose 1.5% in June vs. a year ago to average just above 19 million b/d, according to the American Petroleum Institute’s most recent Monthly Statistics Report. For the second quarter, petroleum demand increased 1.5% compared with the same period last year.

Obama’s latest sanctions against Russia include oil, gas firms

07/17/2014

In response to continued unrest in Ukraine, US President Barack Obama has announced new sanctions against Russia that include—for the first time—operations of Russian state-owned energy firms.

ConocoPhillips group makes Browse basin gas discovery

07/17/2014

The ConocoPhillips-Karoon Gas Australia partnership has made a natural gas discovery with its latest Browse basin wildcat, Pharos-1, drilled in permit WA-398-P offshore Western Australia.

Australia repeals carbon tax legislation

07/17/2014

Australia’s Parliament has repealed the carbon tax legislation that this year imposed $24.15 (Aus.)/tonne of carbon dioxide emissions.

Development planned for Libyan oil field

07/17/2014

An Indonesian-Libyan joint operating company has taken a step toward development of an oil field in the Hamada area of the Ghadames basin about 200 km south of Tripoli.

MARKET WATCH: NYMEX oil futures rebound on big US inventory draw

07/17/2014

Crude oil futures prices rebounded on the New York market on July 16 after a weekly government inventory report showed a bigger drop in US oil supplies than analysts had expected.

Petrotrin blames US shale gas revolution for reduced refinery runs

07/16/2014

Trinidad and Tobago’s state-owned Petrotrin is blaming the shale gas revolution in the US and lower crude prices at Cushing, Okla., for its decision to significantly reduce its refinery throughput to 120,000 bo/d from 180,000 bo/d.

ORPIC wraps maintenance at Sohar refinery

07/16/2014

Oman Oil Refineries & Petroleum Industries Co. (ORPIC) has completed planned maintenance activities at its 116,000-b/d Sohar refinery.

India pondering natural gas safety board

07/16/2014

India may create a natural gas safety board in the wake of the June 27 pipeline explosion that killed 19.

India making ‘significant efforts’ to diversify crude oil imports

07/16/2014

Indian companies have made “significant efforts” to diversify their crude oil supply sources, according to India’s Press Information Bureau.

US should be ready if Petro Caribe tightens credit terms, study says

07/16/2014

The possibility that Venezuela’s financial support for energy imports in the region could erode quickly makes it imperative for the Obama administration to adopt a wide range of policies to avoid an energy crisis in the Caribbean and Central America, a recent Atlantic Council report said.

ORPIC advances Omani ethylene plant

07/16/2014

Oman Oil Refineries & Petroleum Industries Co. (ORPIC) has let additional contracts to CB&I for its proposed Liwa Plastics Project (LPP) at the Sohar Industrial Port Area in Oman.

MARKET WATCH: NYMEX crude oil drops below $100/bbl on higher Libyan production

07/16/2014

Crude oil prices dropped nearly $1/bbl on both the New York and London markets in July 15 trading with oil settling on the New York market at under $100/bbl on reports that Libya’s oil production was growing faster than expected.

FPSO contracts let in Brazil, Angola

07/15/2014

Petroleo Brasileiro SA (Petrobras) and Sonangol P&P have let respective contracts to Saipem SPA for floating production, storage, and offloading vessels in Brazil and Angola totaling $600 million.

Swift, Saka complete Eagle Ford development deal

07/15/2014

Swift Energy Co., Houston, completed its agreement with PT Saka Energi Indonesia to fully develop 8,300 acres of Fasken properties in the Eagle Ford in Webb County, Tex.

US refiners pursue more overseas product sales, EIA forum told

07/15/2014

US refiners continue to respond to a changed competitive environment with additional investments and aggressive oil product export deals, speakers said during the US Energy Information Administration’s 2014 energy conference’s opening day.

North Dakota flaring reduction policy may impact January production

07/15/2014

North Dakota production continued to climb in May but new requirements in the state’s flaring reduction plan slowed permitting activity in June and may lead to production curtailments for some operators early next year.

BP lets contract for Washington refinery

07/15/2014

BP PLC has let a contract to Jacobs Engineering Group Inc. for work related to coker units at its 234,000-b/d Cherry Point refinery in Blaine, Wash.

NRG, JX Nippon units to build $1 billion Petro Nova CCS project

07/15/2014

Units of NRG Energy Inc. and JX Nippon Oil & Gas Exploration Corp. have entered into a joint venture to build and operate Petro Nova, a carbon-capture system (CCS) in Houston. The total cost of the project is expected to be about $1 billion.

EIA conference speakers warn of US light crude oil’s ‘day of reckoning’

07/15/2014

The US could find its light crude oil production growth stymied if it doesn’t allow more of it to be exported, speakers warned during the US Energy Information Administration’s 2014 energy conference’s first day.

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