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US crude exports aren’t simply a ‘yes-no’ issue, law firm forum told

09/24/2014

The question of whether the US should remove restrictions on crude oil exports is so complex that it has moved beyond a simple “yes-no” issue, speakers agreed during a Sept. 23 discussion hosted by Washington law firm Arent Fox LLP.

MARKET WATCH: Crude oil futures price up, gas down in mixed market

09/24/2014

West Texas Intermediate oil prices rose while Henry Hub natural gas prices declined in mixed futures markets Sept. 23. The day marked the carry-out date of the first US-led coalition airstrikes inside Syria.

Cabot to add 30,000 net acres to Eagle Ford leasehold

09/24/2014

Cabot Oil & Gas Corp., Houston, has agreed to acquire 30,000 net acres in the Eagle Ford shale from an undisclosed seller for $210 million. The transaction is expected to close in October.

Fort Hills lets $1.3 billion contract for oil sands project

09/24/2014

The Fort Hills Energy LP consortium has let a $1.3 billion engineering, procurement, fabrication, and construction contract to Fluor Corp. for the utilities scope of the Fort Hills oil sands mining project, 90 km north of Fort McMurray, Alta., in the Athabasca region.

Countries, oil and gas firms launch methane taskforce at UN meeting

09/24/2014

Governments of major producing countries and six multinational oil and gas companies formed a methane emissions reduction taskforce during the United Nation’s global climate change summit in New York.

Total lets contract for Antwerp refinery expansion

09/24/2014

France’s Total SA, through a contractor, has let a contract to GE Oil & Gas, Houston, part of General Electric Co., for work related to the expansion of its 338,000-b/d refining and petrochemical complex in Antwerp, Belgium.

South Louisiana, Texas gas plant, pipeline projects advance

09/24/2014

EnLink Midstream Partners LP, Dallas, has completed construction of Phase 2 of the Cajun-Sibon natural gas liquids expansion in South Louisiana as well as construction of the Bearkat gas processing plant and rich-gas gathering system in West Texas.

Investors watch with interest as Mexican energy reforms unfold

09/23/2014

Mexico is implementing key aspects of its energy reform more quickly than some observers had expected. So far this year, the country has passed 21 new and amended laws relating to the sector and selected the oil and gas fields that will be placed on the block in the country’s first competitive upstream bid round, set for mid-2015.

IHS: Unconventional supply chain industries support growing number of jobs, revenues

09/23/2014

A diverse group of industries supporting unconventional oil and gas producers has reaped a large portion of the economic rewards from development of these previously untapped resources, highlights an IHS study released Sept. 23.

China, not Russia, could shape Asia’s energy future, speakers say

09/23/2014

China apparently could be in a better position than Russia to directly influence future Asian oil and gas development and policies, speakers agreed during a Sept. 22 discussion at the Center for Strategic & International Studies.

Husky Energy lets contract for Ohio refinery upgrade

09/23/2014

Lima Refining Co. (LRC), a subsidiary of Husky Energy Inc., has entered an integrated supply contract with a subsidiary of Linde Group as part of a planned upgrade and modernization project at its 160,000-b/d refinery at Lima, Ohio.

EIA: Higher Permian production, insufficient pipelines hike WTI oil hub spreads

09/23/2014

Crude oil prices in the Permian basin at Midland, Tex., have been falling below similar crude priced at Cushing, Okla., due to increasing production in the area and insufficient pipeline systems to move the crude to refineries, according to an analysis of the US Energy Information Administration.

MarkWest, Ohio Gathering to provide Utica gas services to American Energy unit

09/23/2014

MarkWest Utica EMG LLC, a joint venture of MarkWest Energy Partners LP and The Energy & Minerals Group, and Ohio Gathering Co. LLC, a joint venture of MarkWest Utica EMG and Summit Midstream Partners LLC, have agreed to provide natural gas gathering, processing, and fractionation services in the Utica shale in Ohio to American Energy–Utica LLC (AEU).

Otto sells interest in Galoc field to Risco

09/23/2014

Otto Energy Ltd., Perth, has agreed to sell its interest in the Galoc oil field in service contract (SC) 14C1 offshore Palawan basin in the Philippines to Singapore-based Risco Energy for $101.4 million.

BSEE proposes helicopter safety rules for fixed offshore platforms

09/23/2014

The US Bureau of Safety and Environmental Enforcement is seeking public comments on a proposed rule aimed at improving safety of helideck and aviation fuel operations on fixed offshore facilities.

WoodMac: EOR could boost US tight oil output 3 million b/d by 2030

09/23/2014

Additional volumes from enhanced oil recovery (EOR) slated to come on stream after 2020 could boost tight oil production in the US by 1.5-3 million b/d by 2030, up to 25% more oil than is being forecasted today, according to analysis from Wood Mackenzie.

Total to sell Utica midstream assets to Korean firms

09/23/2014

Total SA affiliate Total E&P USA has agreed to sell its 25% interest in Cardinal Gas Services LLC, a midstream company in Ohio’s Utica shale, to E1 Corp. and a consortium led by Samchully, both from South Korea, for $400 million plus an estimated price adjustment of $50 million.

MARKET WATCH: Brent crude oil futures drop below $98/bbl

09/23/2014

Crude oil prices dropped on both the New York and the London markets on Sept. 22 with Brent crude oil prices for December dropping below $98/bbl.

Suncor Energy begins planned maintenance at Montreal refinery

09/23/2014

Suncor Energy Inc. has started planned maintenance at its 137,000-b/d Montreal, Que., refinery, the company said.

Contract let for Alberta refinery

09/23/2014

North West Redwater Partnership (NWR) has let a contract to a division of Emerson, St. Louis, Mo., to provide automation services and technology for the first phase of NWR’s greenfield bitumen refinery project in Sturgeon County, about 45 km northeast of Edmonton, Alta.

Petron lets contract for coker at Bataan refinery

09/23/2014

Petron Corp., Mandaluyong City, Philippines, has let a contract to a subsidiary of Foster Wheeler’s global engineering and construction group for work related to a new delayed coking unit at Petron’s 180,000 b/d refinery in Limay, Bataan, about 150 km southwest of Manila.

Oneok to add gas processing, transportation in North Dakota, Wyoming

09/22/2014

Oneok Partners LP, Tulsa, reported on plans to invest $480-680 million between now and the end of third-quarter 2016 to construct natural gas processing facilities and related systems in North Dakota and Wyoming.

Total to divest $10 billion in assets during 2015-17

09/22/2014

Total SA plans to divest $10 billion in assets during 2015-17 in an effort to improve cash flow and enforce stricter financial discipline.

Range agrees to pay $4.15 million to settle Pennsylvania DEP charges

09/22/2014

Range Resources Corp., Fort Worth, has agreed to pay a $4.15 million fine, close five impoundments, and upgrade two others at its Washington County operations, Pennsylvania’s Department of Environmental Protection (DEP) reported. The fine is the biggest against an oil and gas producer in the state’s shale drilling era, the agency said on Sept. 18.

MARKET WATCH: Crude oil, natural gas futures end week lower

09/22/2014

Crude oil and natural gas futures prices ended last week lower. The New York Mercantile Exchange October crude oil contract fell 66¢ on Sept. 19, settling at $92.41/bbl. The November contract lost 33¢ to $91.65/bbl.

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