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Mexico hydrocarbon undersecretary vows careful energy regulation, contract transparency

02/07/2014

Mexico’s government realizes it’s crucial to establish competitive contract terms and effective, transparent regulations to attract international investors as Mexico implements its pending energy reforms, panelists told a Houston gathering on Feb. 7.

Baker Hughes: US drilling rig count dips to 1,771

02/07/2014

The US drilling rig count fell 14 units to 1,771 rigs working during the week ended Feb. 7, Baker Hughes Inc. reported.

Phillips 66 advances Sweeney fractionator, Freeport export terminal

02/07/2014

Phillips 66 will build both its Sweeny Fractionator One and Freeport LPG Export Terminal. The 100,000-b/d Sweeny fractionator will be in Old Ocean, Tex., close to the company’s Sweeny refinery, and will supply purity NGLs to the petrochemical and heating markets.

MARKET WATCH: Oil futures price up; spot gas price continues to climb

02/07/2014

The New York Mercantile Exchange March crude contract gained 46¢ on Feb. 6, closing at $97.84/bbl. The April contract added 56¢ to settle at $97.32/bbl.

Tesoro to upgrade rail fleet to newer, more-compliant cars

02/07/2014

Tesoro Corp. unit Tesoro Refining & Marketing Co. LLC (TRMC) reported it will begin to replace older cars in its crude oil rail car fleet with post-October 2011 design, CPC 1232-compliant rail cars, after evaluating rail car safety features.

Baytex to acquire Aurora for $2.6 billion

02/07/2014

Baytex Energy Corp., Calgary, has agreed to acquire Aurora Oil & Gas Ltd., Subiaco, Western Australia, for $2.6 billion, providing Baytex with 22,200 net contiguous acres in the Sugarkane field in the Eagle Ford shale of South Texas.

Noble to farm out part of Leviathan interest

02/07/2014

Noble Energy Inc. has signed a nonbinding memorandum of understanding regarding the sale of 9.66% interest in the Leviathan licenses offshore Israel to Woodside Petroleum Ltd.

Granite Wash gas plant, pipeline start up

02/07/2014

MarkWest Energy Partners LP, Denver, has started up the 200-MMcfd Buffalo Creek cryogenic gas processing plant and associated high-pressure trunk line in the Granite Wash in Hemphill County, Tex.

Washington state debates cutting tax break for refiners

02/06/2014

Washington state lawmakers are reviewing proposed legislation that would do away with a tax exemption currently applicable to refineries operating in the state.

Crosstex adding Permian basin gas gathering capacity

02/06/2014

Crosstex Energy is building a 35-mile, 12-in. OD high-pressure natural gas pipeline, providing Permian basin gathering capacity for its previously announced 60-MMcfd Bearkat gas processing complex in Glasscock County, Tex.

Australian power generator switches from gas to coal

02/06/2014

Queensland state-owned power generator Stanwell Corp. has decided to mothball its largest natural gas-fired electric power station in October for as long as 3 years.

Oxy to ship NGL to Mont Belvieu on idle NuStar products line

02/06/2014

NuStar Energy LP has signed a long-term agreement allowing Occidental Petroleum Corp. to ship NGL on NuStar’s currently idled, 200-mile, 12-in. OD pipeline between Mont Belvieu and Corpus Christi, Tex. NuStar has begun work to reactivate the line, reverse its flow and convert it from refined products service to NGL service.

Senators ask EIA to study crude exports’ gasoline price effect

02/06/2014

US Sens. Maria E. Cantwell (D-Wash.) and Ronald L. Wyden (D-Ore.) asked the US Energy Information Administration for more information on possible domestic gasoline price impacts from allowing more US crude oil to be exported.

Improve federal pipeline permitting process, UTA white paper urges

02/06/2014

Federal oil and gas pipeline permitting processes need to be accelerated and improved if they are to keep pace with rapidly expanding production, a new white paper produced for United Transportation Advisors LLC argued.

Gazprom says gas production from Kirinskoye to start this year

02/06/2014

OAO Gazprom says it will launch commercial gas production this year from the Kirinskoye natural gas-condensate field.

Japanese refinery on schedule to close by end-March

02/06/2014

JX Nippon Oil & Energy Corp., a wholly owned refining and marketing company of JX Holdings Inc. and Japan’s largest refiner, said it is on track to stop crude oil processing altogether at its 180,000-b/d Muroran refinery, on the northern island of Hokkaido.

MARKET WATCH: NYMEX natural gas prices dip on warmer forecasts

02/06/2014

Natural gas prices for March delivery were volatile during Feb. 5 trading on the New York market, briefly reaching a 4-year high before closing for the day down by 3.45¢/MMbtu from the Feb. 4 settlement, and analysts attributed the closing decline to forecasts calling for warming temperatures.

Axiall updates repair work at Louisiana plant

02/06/2014

Axiall Corp. said repairs are nearing completion at its Lake Charles, La., chemical complex following a Dec. 20, 2013, fire that occurred in the vinyl chloride manufacturing area of the plant.

Witnesses attack, defend recent BLM policies at House hearing

02/06/2014

Policies adopted during the Obama administration have created unnecessary and unproductive obstacles to oil and gas activity on onshore federal lands, witnesses told a US House Natural Resources Committee subcommittee. Other witnesses defended the more prudent approach adopted by the US Bureau of Land Management.

Placid Refining appoints refinery manager

02/05/2014

Placid Refining Co. LLC, Port Allen, La., has named Robert Beadle as refinery manager of its Port Allen facility.

BP ramps up heavy crude throughputs at Whiting

02/05/2014

BP PLC is in the process of boosting heavy crude oil runs at its 413,000-b/d refinery at Whiting, Ind., following the yearend 2013 completion of a modernization project designed to increase the plant’s ability to process heavy, sour crude.

Eland starts oil production from Opuama field in Nigeria

02/05/2014

Eland Oil & Gas PLC has started oil production from Opuama field on the OML 40 license onshore Nigeria.

Pacific Rubiales makes oil discovery in Peru

02/05/2014

Pacific Rubiales Energy Corp., Toronto, has made an oil discovery in the Los Angeles-1X exploration well on Block 131 of Peru’s onshore Ucayali basin.

Flint Hills plans Alaska refinery closure

02/05/2014

Flint Hills Resources Alaska LLC (FHRA), a wholly owned subsidiary of Koch Industries Inc., Wichita, Kan., plans to cease crude oil processing at its 85,000-b/d North Pole refinery near Fairbanks, Alas., by June.

MARKET WATCH: Natural gas, oil futures price climbs on US heating demand

02/05/2014

Natural gas prices surged on the New York market on Feb. 4 as parts of the US experienced more winter weather while oil prices climbed awaiting the weekly government oil and product inventory numbers.

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