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Whiting to acquire Kodiak in $6 billion deal

07/14/2014

Whiting Petroleum Corp. has agreed to acquire Kodiak Oil & Gas Corp., both of Denver, in an all-stock transaction valued at $6 billion, creating the largest Bakken-Three Forks producer with more than 107,000 boe/d of first-quarter production, 855,000 combined net acres, and 3,460 net future drilling locations.

Woodside farms into Beach’s Tanzania permit

07/14/2014

Woodside Petroleum Ltd. has farmed into Beach Petroleum Ltd.’s wholly owned and logistically intriguing inland offshore permit in Lake Tanganyika, Tanzania.

Chevron’s Richmond refinery upgrade advances

07/11/2014

Local officials have approved Chevron Corp. to proceed with the long-delayed $1 billion modernization of its 257,000-b/d Richmond, Calif., refinery on the contingency the company agrees to implement additional recommendations into its project plans.

Baker Hughes: US drilling rig count inches up to 1,875

07/11/2014

The US drilling rig count reflected another uneventful week, again edging up only 1 unit to reach 1,875 rigs working during the week ended July 11, Baker Hughes Inc. reported.

Allan Gray fails to block Roc merger with Horizon

07/11/2014

Fund manager Allan Gray, the largest shareholder in Sydney-based Roc Oil Ltd., has failed in its challenge to the company’s proposed $800 million (Aus.) merger with Horizon Oil Ltd., also of Sydney.

Okinawa refinery resumes operations following typhoon

07/11/2014

Nansei Sekiyu KK, a wholly owned subsidiary of Brazil’s Petroleo Brasileiro SA (Petrobras), is in the process of restarting operations at its 100,000-b/d Nishihara refinery on the island of Okinawa, Japan, following a shutdown ahead of Typhoon Neoguri’s arrival to the region earlier in the week.

First production train installed at Gladstone LNG project

07/11/2014

Construction company Bechtel has completed installation of the first LNG production train for the Santos Ltd.-led Gladstone LNG facility on Curtis Island, Queensland.

IEA: Oil prices pulling back on eased supply concerns, softening demand

07/11/2014

On the back of rapid territorial gains by militants of the Islamic State of Iraq and Syria (ISIS) in northern Iraq, ICE Brent oil futures surged in mid-June to a 9-month high of more than $115/bbl.

MARKET WATCH: Crude oil prices climb, ending long slide

07/11/2014

Crude oil prices in New York and London markets performed an about-face July 10, recovering finally from a long downward slide.

Oxy assigns executive responsibilities

07/11/2014

Occidental Petroleum Corp. has clarified executive management responsibilities following the recent appointment of leadership for the company’s California Resources Corp. (CRC) subsidiary.

BLM seeks comments on proposed carbon dioxide wells in Colorado

07/11/2014

The US Bureau of Land Management’s Royal Gorge Field Office has begun a public scoping period for two proposed carbon dioxide wells near Gardner, Colo. Oxy USA, which operates the existing Sheep Mountain CO2 production unit, proposed the wells, the US Department of the Interior agency said on July 10. Comments will be accepted through July 25.

Dua oil field offshore Vietnam brought on stream

07/11/2014

Premier Oil Group, which includes Santos Ltd., Adelaide, has brought its Dua oil field on stream offshore Vietnam.

BG Group completes sale of CATS pipeline interest

07/11/2014

BG Group has completed the sale of its 62.78% equity interest in the Central Area Transmission System (CATS) gas pipeline in the UK North Sea along with associated infrastructure to Antin Infrastructure Partners, Paris.

Leadership named for Oxy California independent spinoff

07/10/2014

Occidental Petroleum Corp. has appointed Todd A. Stevens as president and chief executive officer and William E. Albrecht as executive chairman of its independent spinoff California Resources Corp. (CRC).

US House Refining Caucus formed

07/10/2014

US Rep. Pete Olson (R-Tex.) announced the formation of the House Refining Caucus with 21 Republicans and 5 Democrats as members. The group’s goal is to educate House members about issues refiners face and related impacts on consumers, he said on July 9. US Rep. Cedric Richmond (D-La.) is co-chairman.

Sinochem commissions Quanzhou refining complex

07/10/2014

Sinochem Quanzhou Petrochemical Co. Ltd., a wholly owned subsidiary of Sinochem Group, has commissioned its 240,000-b/d refining complex at Quanzhou in southern Fujian Province, China.

Teekay JV finalizes shipbuilding contracts for Yamal LNG project

07/10/2014

Teekay LNG Partners LP, Hamilton, Bermuda, through a 50-50 joint venture with China LNG Shipping (Holdings) Ltd., has finalized shipbuilding contracts for six internationally flagged icebreaker LNG carriers for the Yamal LNG project, which lies on Northern Russia’s Yamal Peninsula.

BridgeTex pipeline open season commences

07/10/2014

Magellan Midstream Partners LP and Occidental Petroleum Corp. have launched a supplemental open season for additional transportation commitments for the 300,000-b/d BridgeTex pipeline connecting Colorado City, Tex. with the Houston Gulf Coast area.

Middle class key to MENA energy subsidy reforms, speakers say

07/10/2014

Countries in the Middle East and North Africa (MENA) are talking more openly about energy subsidy reforms, but governments need to pay closer attention to middle-class consumers’ concerns if they expect to make more progress, speakers said during a July 10 forum at the Atlantic Council.

Arawak Energy to acquire Lundin’s Komi region assets

07/10/2014

Arawak Energy Russia BV has agreed to acquire all interests in the Sotchemyu-Talyu and North Irael fields in Russia’s Komi region from Lundin Petroleum AB.

MARKET WATCH: Crude oil futures drop with rising Libyan production

07/10/2014

Crude oil prices fell by more than $1/bbl on the New York market July 9 on reports that Libya’s largest oil field had resumed production following the lifting of a force majeure on two ports, Ras Lanuf and Es Sider, which together account for about half of Libya’s oil exports.

Louisiana complex resumes full operations

07/09/2014

Axiall Corp. has returned its vinyl chloride monomer manufacturing plant at the company’s chemicals complex in Lake Charles, La., to full operating rates following a December 2013 fire.

API releases unconventional production community engagement standard

07/09/2014

The American Petroleum Institute issued a new standard specifically aimed at effectively engaging with US communities affected by exploration and development of unconventional oil and gas resources. ANSI-API Bulletin 100-3 emerged following 3 years of meetings and discussions with producers, community leaders, state regulators, property owners and other stakeholders, API Standards Director David Miller said.

Phillips 66 boosts capital expenditures for 2014

07/09/2014

The board of Phillips 66 has approved a $1.2-billion increase for the company’s capital expenditures this year to $3.9 billion to support the company’s growth strategy.

Operations remain halted at Okinawa refinery

07/09/2014

Nansei Sekiyu KK, a wholly owned subsidiary of Brazil’s Petroleo Brasileiro SA (Petrobras), has suspended operations at its 100,000-b/d Nishihara refinery on the island of Okinawa in southwestern Japan ahead of Typhoon Neoguri’s arrival to the region.

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