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House will vote on amended LNG export bill, Gardner says

06/23/2014

The US House will vote early the following week on HR 6, which is aimed at expediting US LNG exports, Rep. Cory Gardner (R-Colo.) announced on June 20.

Statoil encounters dry hole in Barents Sea

06/20/2014

Statoil ASA has completed drilling wildcat well 7324/2-1 about 45 km north of the 7324/8-1 Wisting Central discovery and 350 km north of Hammerfest.

Petrobras' aggregate presalt production reaches 343 million boe

06/20/2014

Petroleo Brasileiro SA (Petrobras) reported that it reached 343 million boe in accumulated production from Brazil’s offshore presalt layer between September 2008 and April 2014. This news comes a month after the company reported surpassing 470,000 b/d in production from the Santos and Campos basins.

Iraqi crisis shows factional strife trumps nationalism

06/20/2014

Continuation of disruption to Iraq underscores how readily observers in the West underestimate factionalism, in its various dimensions, as a force in the Middle East.

Fire hits India’s Guru Gobind Singh refinery

06/20/2014

A fire occurred on the morning of June 20 at HPCL-Mittal Energy Ltd.’s (HMEL) 180,000-b/d, zero-bottoms Guru Gobind Singh refinery near Bathinda in the northern state of Punjab, India.

Baker Hughes: US drilling rig count up to 1,858

06/20/2014

The US drilling rig count gained 4 units to reach 1,858 rigs working during the week ended June 20, Baker Hughes Inc. reported.

LNG exports dominate Senate committee hearing on US gas potential

06/20/2014

Liquefied natural gas exports quickly took center stage at a June 19 US Senate Energy and Natural Resources Committee hearing to examine “how to harness a game-changing resource for export, domestic consumption, and transportation fuel.”

Encana completes $3.1 billion purchase of Eagle Ford acreage

06/20/2014

Encana Oil & Gas (USA) Inc., a wholly owned subsidiary of Encana Corp., has completed its previously reported $3.1 billion purchase of 45,500 net acres in Karnes, Wilson, and Atascosa counties of south Texas from Freeport-McMoRan Oil & Gas LCC, a subsidiary of Freeport-McMoRan Copper & Gold Inc.

East Timor plans first onshore bid round

06/20/2014

The Democratic Republic of Timor Lesté (East Timor) is planning its first bid round for onshore acreage toward the end of this year.

Cornea set for 5-year assessment by local JV

06/20/2014

The controversial Cornea oil and gas field in the Browse basin offshore Western Australia is set for a thorough 5-year assessment by a joint venture of local junior companies banding together as Cornea Resources Pty Ltd.

Enbridge to sell interest in Midcoast Operating

06/20/2014

Enbridge Energy Partners LP has entered into a purchase and sale agreement to sell an additional 12.6% interest in midstream natural gas subsidiary Midcoast Operating LP to Midcoast Energy Partners LP for $350 million.

Eni signs PSC for block offshore China

06/20/2014

Eni signed a production sharing contract with China National Offshore Oil Corp. for Block 50/34 off the southwestern coast of Hainan Island in the South China Sea.

MARKET WATCH: Oil futures climbing on Iraq’s instability

06/20/2014

Crude oil futures climbed on both the New York and London markets June 19, which analysts said was largely driven by rising concerns about instability in Iraq and ongoing risks to Iraqi oil production. Brent crude oil prices briefly reached a 2014 high of $115.71/bbl June 19 before closing just above $115/bbl.

Kazakhstan approves extension to Tethys’ Kyzyloi contract

06/19/2014

Kazakhstan’s Ministry of Oil & Gas has approved a 15-year extension to the Kyzyloi gas production contract belonging to Tethys Petroleum Ltd.

Vietnamese refinery secures contractor credit package

06/19/2014

Nghi Son Refinery & Petrochemical LLC (NSRP) has received a first credit package of about $ 600 million from contractors and sponsors for its 200,000-b/d refinery and petrochemical complex in Thanh Hoa Province, Vietnam.

Udall introduces updated bill to accelerate LNG export approvals

06/19/2014

US Sen. Mark Udall (D-Colo.) introduced an updated version of his earlier bill aimed at accelerating federal approvals of LNG export projects. The new measure accounts for the US Department of Energy’s proposal to revise the process for determining whether such projects are in the US national interest, he explained on June 18.

API: US production outpaced petroleum demand in May

06/19/2014

US crude oil production in May increased 14.7% from May 2013 to 8.3 million b/d—the highest level for the month since 1987—according to a report from the American Petroleum Institute.

FERC approves Cameron LNG liquefaction, export project

06/19/2014

The Federal Energy Regulatory Commission authorized Cameron LNG LLC’s plan to build and operate facilities to liquefy and export natural gas from its existing liquefied natural gas import terminal in Hackberry, La.

BG-led group make oil, gas discovery off Kenya

06/19/2014

The BG Group joint venture that includes Pancontinental Petroleum Ltd., Perth, has reported an oil discovery off Africa’s east coast.

Dangote Group finalizes contract for Nigerian refinery

06/19/2014

Nigerian conglomerate Dangote Group has officially entered an agreement with Engineers India Ltd. (EIL) for project management consultancy (PMC) and engineering, procurement, and construction management (EPCM) for a grassroots refinery and polypropylene plant in Nigeria.

Bonaparte FLNG partners ponder other development options

06/19/2014

The joint venture of GDF Suez and Santos Ltd. in the Bonaparte Gulf has decided to consider other potential development options as well as the floating LNG (FLNG) concept for the development of its Bonaparte natural gas fields.

ExxonMobil begins US Gulf Coast ethylene expansion project

06/19/2014

ExxonMobil Corp. has started construction on a multibillion dollar expansion at its Baytown, Tex., refining and petrochemical complex just east of Houston.

BLM seeks comments on EA for Koch’s proposed gas wells in Utah

06/19/2014

The US Bureau of Land Management’s Vernal, Utah, field office is seeking public comments on an environmental assessment it conducted of Koch Exploration Co. LLC’s proposal to drill up to 135 natural gas wells in eastern Utah.

Crude prices could climb if Iraq instability persists, SAFE warns

06/19/2014

Despite continuing US production increases, global crude oil prices could climb as much as $40/bbl if instability in Iraq persists, Securing America’s Future Energy (SAFE) warned in a recent report.

MARKET WATCH: Brent crude tops $114/bbl on Iraqi insurgency

06/19/2014

Crude oil futures declined modestly on the New York market June 18 after a weekly inventory report showed US crude oil supplies declined less than analysts had expected for the week ended June 13, and Brent crude oil prices climbed again on the London market given rising concerns about Iraq.

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