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EIA: Light, sweet crude from tight formations source of US oil production increases

06/06/2014

About 96% of the 1.8-million b/d growth in US production during 2011-13 consisted of light, sweet crude grades with API gravity of 40° or higher and sulfur content of 0.3% or less, the US Energy Information Administration reported on June 6.

BHP Billiton farms into deepwater Trinidad and Tobago blocks

06/06/2014

BHP Billiton Ltd. has acquired a 70% stake in BP Trinidad & Tobago’s (BPTT) two deepwater blocks off Trinidad and Tobago’s east coast, leaving the Caribbean twin-island nation’s largest gas producer with a 30% interest in Blocks TTDAA 14 and 23(a).

Group sues to halt California refinery revamp

06/06/2014

A California-based environmental group has filed a lawsuit requesting a state superior court to revoke a permit that would allow Chevron Corp. to proceed with its long-delayed plan for a $1 billion modernization project at the 257,000-b/d Richmond, Calif., refinery.

Extreme agenda shaped emissions proposal by EPA

06/06/2014

Architects of the US Environmental Protection Agency’s proposal to cut carbon-dioxide emissions from power plants have no intention of stopping with coal.

Baker Hughes: US drilling rig count decreases to 1,860

06/06/2014

The US drilling rig count dropped 6 units to 1,860 rigs working during the week ended June 6, Baker Hughes Inc. reported.

Federal chemical safety working group issues initial status report

06/06/2014

An online best practices repository has been established as one of several early steps to improve chemical plant safety and security, a federal interagency working group said in its initial status report to US President Barack Obama. The president issued an executive order for its formation on Aug. 1, 2013. The status report followed progress updates in December and February.

MARKET WATCH: Crude, gas futures prices waffle in mixed market

06/06/2014

The New York Mercantile Exchange July crude oil contract price declined 16¢ closing at $102.48/bbl on June 5. The August contract dropped 12¢ to settle at $101.81/bbl.

Range Resources ups capital budget on positive Marcellus results

06/06/2014

Range Resources Corp., Ft. Worth, reported it will increase its capital budget for 2014 by $220 million to $1.52 billion, citing positive results in the Marcellus shale as the reason.

Phillips 66 to buy Unocal’s Beaumont marine terminal

06/06/2014

Phillips 66 agreed to purchase Unocal’s 7.1-million bbl storage capacity terminal near Beaumont, Tex. The Beaumont terminal will be the largest terminal in Phillips 66’s portfolio.

Summail gas field starts flow in Kurdistan

06/05/2014

DNO International ASA, Oslo, has started production of natural gas from Summail field in Kurdistan, northern Iraq.

Permian basin processing pushed by agreements, plant expansion

06/05/2014

Canyon Midstream Partners LLC, Houston, has signed gathering and processing agreements with ExxonMobil Corp. subsidiary XTO Energy Inc. and Apache Corp. for midstream services on Canyon’s James Lake system in the Permian basin.

API: Industry made strides in offshore safety since Macondo

06/05/2014

The American Petroleum Institute asked the US Chemical Safety Board to consider what API calls industry’s progress on offshore safety since the Apr. 20, 2010, deepwater Macondo well blowout and massive oil spill in the Gulf of Mexico.

ADB: TAPI gas pipeline making steady progress

06/05/2014

A proposed 1,800-km pipeline that would transport as much as 33 billion cu m/year of natural gas from Turkmenistan across Afghanistan to Pakistan and India is making steady progress, an Asian Development Bank official said.

Construction begins on Uintah basin crude upgrader

06/05/2014

FUELogistics Inc. has started construction on an oil upgrader in Duchesne, Utah, specifically designed to process waxy crude sourced from the state’s Uintah basin.

CSB reports unrecognized pipe buckling contributed to Macondo oil spill

06/05/2014

An incident similar to the 2010 deepwater Macondo well blowout and resulting oil spill still could occur, the US Chemical Safety Board reported June 5 in releasing its investigation findings into the 2010 incident.

New midstream firm gets $500 million investment

06/05/2014

Privately held Navitas Midstream Partners, recently formed in The Woodlands, Tex., “to develop, acquire, and operate midstream assets across multiple basins in North America,” has received a line-of-equity investment of as much as $500 million from an affiliate of Warburg Pincus, New York.

NGSA: US gas prices to feel slight upward pressure this summer

06/05/2014

US natural gas likely will feel modest upward pressure this summer from levels a year earlier when Henry Hub prices averaged $3.77/MMbtu, the Natural Gas Supply Association said in its 2014 Outlook for Summer Gas, released June 4.

Akin Gump: Mozambique, Tanzania are updating petroleum laws

06/05/2014

The governments of Mozambique and Tanzania are developing laws and regulations so those nations can tap into revenues from potential natural gas export projects, a partner with Akin Gump Strauss Hauer & Field LLP said during a midyear energy briefing on June 4.

Statoil adds compressors to Troll A platform

06/05/2014

Statoil ASA has lifted two 6,000-tonne compressors aboard its Troll A platform in the Norwegian North Sea. The company says the compressors will boost recovery from Troll by more than 83 billion standard cu m of gas once they are running next year.

IHS: India needs to reform gas prices

06/05/2014

Uncertain reform of natural-gas pricing in India, if allowed to move forward, would revive oil and gas investment and help the government balance its accounts, according to a new study by IHS.

Fractionation to be added to Pennsylvania complex

06/05/2014

MarkWest Energy Partners LP, Denver, and Energy & Minerals Group (EMG), Houston, will add fractionation capacity at their Hopedale complex in Harrison County, Ohio, to handle increasing NGL production from the Utica and Marcellus shales “under newly contracted commitments from numerous producers,” the companies said.

Explosion hits Shell’s Netherlands Moerdijk plant

06/05/2014

An investigation is under way into an explosion that took place late on June 3 at Royal Dutch Shell PLC’s Moerdijk petrochemical plant in the Netherlands.

MARKET WATCH: NYMEX oil prices drop on high product supplies

06/05/2014

Crude oil futures settled lower June 4 on the New York market where the settlement has been lower than the previous day for five of seven trading sessions while crude oil futures on the London market also dropped, marking a fourth consecutive decline.

Uganda advances plans for first refinery

06/04/2014

Uganda’s government has received proposals from four international companies bidding to build and construct the country’s first refinery and related infrastructure in the Lake Albert region of Buseruka Subcounty, Hoima District, Uganda.

Pieridae lets FEED contract for Goldboro LNG development

06/04/2014

Pieridae Energy (Canada) Ltd. has let a front-end engineering and design (FEED) contract to CB&I for the Goldboro LNG project in Guysborough County, NS.

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