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Magellan, PAA form Saddlehorn crude pipeline joint venture

Fri, Feb 27, 2015

Magellan Midstream Partners LP and Plains All American Pipeline LP have formed Saddlehorn Pipeline Co., a 50-50 limited liability joint venture, to build, own, and operate the 550-mile Saddlehorn pipeline, shipping crude oil from the Denver-Julesburg basin, and potentially the broader Rocky Mountain area, to storage in Cushing, Okla.

Planned, unplanned maintenance under way at Venezuelan refineries

Fri, Feb 27, 2015

Petroleos de Venezuela SA (PDVSA) is conducting both planned and unplanned maintenance work at three of its Venezuelan refineries.

Speaker suggests how Russian regime change might occur

Fri, Feb 27, 2015

Speculative details about regime change in Russia have emerged from an especially interesting source.

BHI: US rig count continues to tumble, falls 43 units to 1,267

Fri, Feb 27, 2015

The US drilling rig count declined 43 units—down from losses of 48 last week and 98 the previous week—to settle at 1,267 rigs working during the week ended Feb. 27, according to data from Baker Hughes Inc.

Recent CSIS report outlines main US oil infrastructure challenges

Fri, Feb 27, 2015

The US crude oil renaissance has created strong demand for expanded US transportation systems, resulting in five primarily challenges, a recent Center for Strategic and International Studies report concluded.

Statoil, Sinochem submit POD for Peregrino Phase II off Brazil

Fri, Feb 27, 2015

Statoil ASA and partner Sinochem have submitted a plan of development (POD) for the $3.5-billion Peregrino Phase 2 project to Brazil’s National Agency of Petroleum, Natural Gas, and Biofuels (ANP).

PetroChina mulling sale of its stake in Arrow CSG

Fri, Feb 27, 2015

PetroChina is reportedly considering selling its half of Arrow Energy’s Queensland coal seam gas (CSG) resources.

Shell’s Pearl GTL plant enters planned maintenance

Fri, Feb 27, 2015

Qatar Shell Ltd., a unit of Royal Dutch Shell PLC, has started a scheduled maintenance turnaround on one of two identical production trains at its Pearl gas-to-liquids (GTL) plant in Qatar’s Ras Laffan Industrial City.

Michie named Oil & Gas UK chief executive

Fri, Feb 27, 2015

Deirdre Michie has been named chief executive of Oil & Gas UK, replacing Malcolm Webb, who will retire May 31.

MARKET WATCH: NYMEX crude oil prices swing down again

Fri, Feb 27, 2015

The contract for US light, sweet crude oil for April delivery plunged by more than $2.80/bbl on the New York market Feb. 26 as volatility sent crude prices on a steep decline toward their lowest level in nearly a month.

Low crude prices pressure Latin American producers, CSIS forum told

Thu, Feb 26, 2015

Depressed crude oil prices are putting new pressure on Latin American producing countries to improve terms if they expect to attract outside investment for developing resources, speakers said during a Feb. 25 discussion at the Center for Strategic & International Studies.

Petroleum detected in fish tested after Yellowstone River pipeline spill

Thu, Feb 26, 2015

Detectable levels of petroleum were found in tests of fish pulled from the Yellowstone River downstream from a broken petroleum pipeline near Glendive. Mont., and the Montana Fish, Wildlife and Parks advised fishermen to use caution when deciding whether to eat fish from the oil spill area.

Suriname bid round draws lackluster response

Thu, Feb 26, 2015

The dramatic fall in oil prices is being blamed for the lack of interest shown by international oil companies (IOCs) in the deepwater offshore Suriname in the Suriname-Guyana basin.

House panel launches probe of DOS’s Keystone XL application process

Thu, Feb 26, 2015

The US House Oversight and Government Reform Committee began an investigation of the US Department of State’s environmental impact statement for the proposed Keystone XL crude oil pipeline. It requested comments DOS asked other federal departments to provide regarding DOS’s final supplemental EIS for the project in a Feb. 24 letter to Sec. of State John F. Kerry.

Antero Resources cuts 2015 Marcellus spending vs. 2014

Thu, Feb 26, 2015

Antero Resources Corp., Denver, said it plans to spend $1.6 billion during 2015 for drilling and completion activities in the Marcellus and Utica shale plays, marking a 36% reduction as compared with 2014 drilling and completion expenditures.

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