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MARKET WATCH: Crude oil futures price up, natural gas down

01/31/2014

The New York Mercantile Exchange March crude contract jumped 87¢ on Jan. 30, closing at $98.23/bbl. The April contract climbed 78¢ to settle at $97.66/bbl.

Kazakhstan lets contract for refinery modernization

01/31/2014

PetroKazakhstan Oil Products LLP, a joint venture of state-owned KazMunaiGas (KMG)and China National Petroleum Corp., has let a services-related contract to China Petroleum Engineering & Construction Corp. (CPECC) for a long-delayed project to upgrade the 5.25 million tonne/year Shymkent refinery in Kazakhstan.

WBI launches Dakota natural gas pipeline open season

01/30/2014

WBI Energy Inc., a subsidiary of MDU Resources Group Inc., has launched an open season for its planned 375-mile Dakota natural gas pipeline running from western North Dakota to northwestern Minnesota.

CSB issues report on Washington refinery blast

01/30/2014

The US Chemical Safety Board has determined the cause of an April 2010 explosion and fire at Tesoro’s 120,000-b/d Anacortes, Wash., refinery could have been prevented by the US independent refiner.

Senate panel hears arguments for, against US crude oil exports

01/30/2014

Witnesses on both sides of the debate over whether to expand US crude oil exports used improved energy security and creation of more domestic jobs to support their viewpoints during a US Senate Energy and Natural Resources Committee hearing on the subject.

West Chirag platform starts production off Azerbaijan

01/30/2014

Azerbaijan International Operating Co. (AIOC) has started oil production from the West Chirag platform in the Azeri-Chirag-Gunashli (ACG) complex of fields offshore Azerbaijan in the Caspian Sea.

Apache plans further development for active Egyptian program

01/30/2014

Apache Corp. has applied for licenses to develop two recent discoveries in the Western Desert of Egypt, where drilling now includes horizontal wells targeting conventional and unconventional resources.

Index reveals record year for Texas oil, gas production

01/30/2014

The Texas Petro Index, a composite index based on a comprehensive group of upstream economic indicators, showed that crude oil production in the Lone Star State increased 21% in 2013 compared with 2012, reaching volumes not seen since 1985.

Shell cancels 2014 drilling off Alaska in court decision’s wake

01/30/2014

Royal Dutch Shell PLC will not resume activity on federal leases it holds offshore Alaska in 2014 because a US appeals court’s Jan. 22 decision in a 2008 lawsuit against the US Department of the Interior has created significant uncertainties, company officials stated.

MSRC, Alaska Maritime working together on nontank vessel regs

01/30/2014

Marine Spill Response Corp. (MSRC) and Alaska Maritime Prevention & Response Network announced a strategic alliance to support industry’s efforts to meet federal regulations for nontank vessels and to enhance oil spill response efforts in western Alaska and Prince William Sound.

Statoil, PTTEP to divide oil sands stakes

01/30/2014

Statoil AS and PTT Exploration & Production (PTTEP) of Thailand have agreed to divide their interests in the multiarea Kai Kos Dehseh (KKD) oil sands project about 120 km south of Fort McMurray, Alta.

MARKET WATCH: NYMEX crude oil prices fall on US oil supply build

01/30/2014

Crude oil futures prices fell slightly on the New York during Jan. 29 trading after a government report showed the largest weekly crude oil supply gain in more than 3 months.

Pipe supply contracts signed for South Stream offshore section

01/30/2014

OAO Gazprom said contracts have been signed to supply 75,000 12-m pipes for the first gas pipeline of South Stream Transport’s offshore section.

Southcross starts construction on new Eagle Ford pipeline

01/30/2014

Southcross Energy Partners LP has begun construction on the $125 million, 300-MMcfd Webb pipeline in the rich gas area of the Eagle Ford shale in South Texas.

Countries moving geopolitically on Arctic energy, Wilson forum told

01/30/2014

Countries already are making geopolitical moves to secure Arctic oil and gas resources despite actual development being decades away in most cases, experts agreed at a Woodrow Wilson International Center for Scholars forum.

Angola LNG sells first LPG cargo

01/30/2014

Angola LNG has shipped its first LPG cargo from its plant in Soyo, Angola.

E&Y: Unconventional resources largest source of US oil, gas growth in 2013

01/29/2014

Unconventional resources in the US constituted the oil and gas industry’s largest source of growth in 2013—a trend that’s expected to continue into 2014, Ernst & Young indicated in its US quarterly outlook.

GTL pilot tests method aimed at cost cuts

01/29/2014

Gas2, Aberdeen, has produced hydrocarbon liquids at low rates from natural gas with a technology it says can reduce costs in small gas-to-liquids plants.

Magnolia LNG taps Kinder Morgan unit for gas transport

01/29/2014

Liquefied Natural Gas Ltd. subsidiary Magnolia LNG LCC (MLNG) executed a precedent agreement with Kinder Morgan Louisiana Pipeline LLC (KMLP) for transportation of natural gas sufficient to meet the full 8-million tonne/year Magnolia LNG Lake Charles, La., liquefaction project capacity.

Hess to sell Utica acreage for $924 million

01/29/2014

Hess Corp. has agreed to sell 74,000 acres of its dry gas acreage in the Utica shale to an undisclosed buyer for $924 million.

Quick hike seen in Iranian oil output if sanctions lifted

01/29/2014

Iran can push production of crude oil back to 3-3.5 million b/d “relatively quickly” in the absence of international sanctions, says a veteran observer of the Islamic Republic.

API, AFPM urge EPA to consider actual production in biofuel quotas

01/29/2014

The US Environmental Protection Agency should rely more heavily on actual production than on future projections in determining its 2014 renewable fuel quotas, the American Petroleum Institute and American Fuel & Petrochemical Manufacturers jointly said in comments filed Jan. 28 with the agency.

Shell to sell interest offshore Brazil to Qatar Petroleum for $1 billion

01/29/2014

Royal Dutch Shell PLC has agreed to sell 23% interest in the Parque das Conchas (BC-10) project offshore Brazil to Qatar Petroleum International for $1 billion. Shell will continue to operate BC-10 with 50% working interest.

MARKET WATCH: NYMEX oil prices jump pending Fed decision, inventory report

01/29/2014

Crude oil futures prices jumped on New York and London markets in Jan. 28 trading, and analysts said the US market fluctuated awaiting a decision from Federal Reserve officials regarding whether they would accelerate the tapering of an economic stimulus program.

Alon updates timeline for Texas refinery project

01/29/2014

Alon USA has delayed scheduled maintenance activity at its 70,000-b/d Big Spring, Tex., refinery until later in the year in an effort to cut costs as well as the time it will take to complete the project.

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