Most Recent Stories

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.

Dow lets contract for US Gulf Coast petrochemical projects

02/05/2014

Dow Chemical Co. has let a contract to CB&I, Houston, for work related to planned ethylene and propylene expansion projects along the US Gulf Coast.

VAALCO gets IFC loan for work off Gabon

02/04/2014

VAALCO Energy Inc., Houston, has received a $65-million reserve-based loan facility from IFC, part of the World Bank Group, to support further oil and gas development on the Etame Marin Block offshore Gabon.

Keystone XL supporters, opponents press Obama for prompt decision

02/04/2014

Supporters and opponents of the proposed Keystone XL crude oil pipeline separately urged US President Barack Obama to decide promptly on whether the project should receive a cross-border permit. Their calls came days after the US Department of State released its final supplemental environmental impact statement on the project.

SRC lets contract for Jurong refinery expansion

02/04/2014

Singapore Refining Co. Pte. Ltd. (SRC) has let a construction contract to JGC Corp. for expansion work at its 290,000-b/d Jurong refinery in Singapore.

Total sells block interest offshore Angola for $750 million

02/04/2014

Total SA will sell 15% participating interest the offshore Angola Block 15/06 to Sonangol E&P for $750 million.

BPC releases first three commissioned papers on RFS

02/04/2014

The Bipartisan Policy Center released the first three of five papers it commissioned on the federal Renewable Fuels Standard. The papers are part of its effort to foster discussions on ways to reform the RFS, which was established by the 2005 Energy Policy Act established and expanded by the 2007 Energy Independence and Security Act, BPC said.

Shell starts production from second Mars platform in gulf

02/04/2014

Shell Oil Co. has started production from its Mars B development through Olympus, a tension-leg platform in 3,100 ft of water 130 miles south of New Orleans in the Gulf of Mexico. Shell expects the added production from Olympus to extend the life of the greater Mars basin to 2050 and deliver a resource base of an estimated 1 billion boe.

EPA rule requires new reporting from refiners, chemical processors

02/04/2014

The US Environmental Protection Agency has finalized a rule under existing federal statutory law that establishes new reporting requirements for petroleum and petrochemical processors that use or plan to use five chemical substances identified generically as “complex strontium aluminate, rare earth doped” (CSA-RED).

Anadarko reports fourth-quarter loss, record yearend sales volumes

02/04/2014

Anadarko Petroleum Corp. reported a fourth-quarter net loss of $770 million, decreasing net income by $1.145 billion.

MARKET WATCH: Crude oil prices fall on economic indicators, Libyan news

02/04/2014

Crude oil prices dropped on New York and London markets in Feb. 3 trading, and analysts said traders focused on weaker-than-expected US and Chinese economic indicators along with the possibility of Libya boosting its oil exports toward more normal levels.

Chu: Decision to build Keystone XL pipeline a political one

02/03/2014

The decision on whether to permit the construction of the Keystone XL crude oil pipeline is a political one and not one of that is scientific in nature, according to former US Energy Sec. Steven Chu.

BP lets contract for Oman land rigs

02/03/2014

BP PLC has let a 5-year contract to KCA Deutag for the construction and operation of three newbuild, fast-moving land rigs in Oman’s Khazzan development for $340 million including options.

ExxonMobil expands Permian acreage, enters Utica agreement

02/03/2014

XTO Energy Inc., a subsidiary of ExxonMobil Corp., has agreed to fund development to gain operating equity in 34,000 gross acres in the liquids-rich Wolfcamp in Texas’s Midland and Upton counties, increasing the company’s holdings in the Permian basin to just more than 1.5 million net acres.

MARKET WATCH: Oil futures price ends month about $2 higher than start of year

02/03/2014

The March crude oil contract ended the month lower than the prior day’s closing price but was still nearly $2 higher than the start of January.

BLM extends comment period for Monument Butte gas project draft EIS

02/03/2014

The US Bureau of Land Management will provide an additional 30 days for public comments on the draft environmental impact statement for Newfield Exploration Co.’s proposed Monument Butte natural gas project in eastern Utah.

DCP Midstream adding processing in DJ, Eagle Ford basins

02/03/2014

DCP Midstream LLC will add nearly 500 MMcfd of natural gas processing capacity in two liquids-rich US basins, the company reported.

Range Resources selects chief executive officer

02/03/2014

Range Resources Ltd. has named Rory Scott Russell as its chief executive officer.

Husky advances Lima refinery expansion

02/03/2014

Husky Energy Co. has approved a $300 million upgrade project at its 161,500-b/d Lima, Ohio, refinery to boost the plant’s ability to process increased volumes of heavy crude from western Canada.

Eagle Ford crude prompts upgrades at Valero’s Texas refineries

02/03/2014

Valero Energy Corp., the largest US independent refiner-marketer, plans to invest $730 million in upgrading two of its Texas refineries to process increased volumes of light crude sourced from the Eagle Ford shale.

No major environmental impact from Keystone XL, DOS says

02/01/2014

The proposed Keystone XL crude oil pipeline’s construction and operation would not have significant environmental impacts, the US Department of State said in its long-awaited final supplemental environmental impact statement for the 1,700-mile project.

Ignoring questions is wrong approach to climate change

01/31/2014

Refusal by global-warming activists to address core issues has gone from tiresome to annoying. President Barack Obama committed the dodge in his State of the Union address on Jan. 28 when he declared, “Climate change is a fact.”

Total starts production at Itau Phase 2

01/31/2014

Total SA has started production from Phase 2 of the Itau natural gas-condensate field on Block XX (Tarija Oeste) in the Andean Cordillera foothills of Bolivia.

Baker Hughes: US drilling rig count climbs to 1,785

01/31/2014

The US drilling rig count gained 8 units to reach 1,785 rigs working during the week ended Jan. 31, Baker Hughes Inc. reported.

ConocoPhillips reports higher 2013 earnings, expects higher production in 2014

01/31/2014

ConocoPhillips reported full-year earnings of $9.2 billion in 2013, an increase from the $8.4 billion totaled in 2012, which included $1.2 billion from downstream operations before the separation of Phillips 66 on Apr. 30.

Stay Connected