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Columbia to build Marcellus-Utica gas pipeline

08/12/2014

Columbia Gas Transmission (CGT), part of NiSource Inc.’s Columbia Pipeline Group, will build a 160-mile natural gas pipeline, Leach XPress, in Ohio and West Virginia, supporting gas supply development in western Pennsylvania, northern West Virginia, and eastern Ohio.

INGAA Foundation, ICF jointly release infrastructure study data

08/12/2014

Data are now available that underpin a major natural gas infrastructure study the INGAA Foundation Inc. released in March, the foundation and ICF International, which prepared the study, jointly announced on Aug. 11.

MARKET WATCH: NYMEX crude oil futures rise modestly awaiting IEA report

08/12/2014

Oil prices rose modestly on the New York market Aug. 11 while analysts awaited the Aug. 12 release of monthly reports from the International Energy Agency and US Energy Information Administration.

Petronas details RAPID project contract awards

08/11/2014

Malaysia’s state-owned Petronas has confirmed the award of 11 major contracts related to critical milestones in the development of its refinery and petrochemical integrated development (RAPID) complex at Pengerang in southeastern Johor, Malaysia.

Green Dragon enters Chengzhuang cooperation agreement

08/11/2014

Green Dragon Gas Ltd. has entered into a cooperation agreement with China National Petroleum Corp. relating to the Chengzhuang block, a 67-sq-km area included within the Shizhuang South production-sharing contract.

House Democrats call for higher federal onshore royalty rates

08/11/2014

Rep. Alan Lowenthal (D-Calif.) urged the US Department of the Interior to raise the 12.5% royalty rate oil and gas producers pay for production from onshore federal lands.

Brightoil completes $1.046-billion acquisition of Bohai Bay assets

08/11/2014

Brightoil Petroleum Ltd. has closed on its acquisition of interest in two oil producing blocks in Bohai Bay from Anadarko China Holdings 2 Co. Ltd., a wholly owned subsidiary of Anadarko Petroleum Corp., for $1.046 billion.

Second fire hits Pemex’s Ciudad Madero refinery

08/11/2014

The second fire within a month broke out on Aug. 8 at Petroleos Mexicanos’s (Pemex) 190,000-b/d Francisco I. Madero refinery in Ciudad Madero, Tamaulipas.

Gabon signs offshore E&P contracts with six firms

08/11/2014

The government of Gabon has signed exploration and production contracts for offshore blocks with Noble Energy Inc., Woodside Petroleum Ltd., Marathon Oil Corp., Impact Oil & Gas Ltd., Repsol SA, and Petronas.

Suriname puts three deepwater exploration blocks up for bid

08/11/2014

Suriname’s state-owned oil concern Staatsolie has put out three deepwater blocks for bids. The blocks—58, 59, and 60—lie east of Suriname in what is known as the Suriname-Guyana basin.

MARKET WATCH: Crude futures prices continue gains in New York

08/11/2014

Crude oil futures prices ended last week on an upswing, continuing to make gains on geopolitical news of ongoing conflict in Iraq and elsewhere.

KMI executes $71-billion consolidation purchase

08/11/2014

Kinder Morgan Inc. (KMI), Kinder Morgan Energy Partners LP (KMEP), Kinder Morgan Management LLC (KMR), and El Paso Pipeline Partners LP reported that KMI will acquire all of the outstanding equity securities of KMEP, KMR and El Paso, creating a single publicly traded security, KMI. The total purchase price of the transaction was $71 billion: $40 billion KMI equity, $4 billion cash, and $27 billion assumed debt.

Rosneft, ExxonMobil JV begins exploratory drilling in Kara Sea

08/11/2014

A joint venture of OAO Rosneft and ExxonMobil Corp. has spudded an exploratory well in the Kara Sea. Drilling is expected to continue for 2 months.

Finlayson appointed InterOil chairman

08/11/2014

Chris Finlayson has been named InterOil Corp. chairman-designate. He succeeds Gaylen Byker, who announced at the company’s annual meeting in June that he would retire after 17 years on the board.

Russia hit by court claims over Yukos it likely will defy

08/08/2014

Battered lately in the worldwide court of public opinion over its strong-arming of Ukraine, Russia last month sustained two blows in international courts over a power move 10 years earlier.

Cameron LNG liquefaction project makes FID, will proceed

08/08/2014

Sponsors of the 12-million tonne/year Cameron Liquefaction Project, planned at the site of Sempra Energy’s Cameron LNG receipt terminal in Hackberry, La., made their final investment decision (FID) and will proceed with the plant. Sempra LNG, GDF Suez SA, Mitsui & Co. Ltd., and Mitsubishi Corp., through a related company jointly established with Nippon Yusen Kabushiki Kaisha (NYK), each approved development, construction, and operation of the natural gas liquefaction and export project.

Expand OCS access for oil and gas, Senate Republicans urge Jewell

08/08/2014

Twenty-one Republican US senators, led by Energy and Natural Resources Committee Ranking Minority Member Lisa Murkowski (Alas.), asked US Sec. of the Interior Sally Jewell to consider opening more of the US Outer Continental Shelf to oil and gas exploration and production in the next 5-year program.

Study highlights Pennsylvania’s shale gas development boom

08/08/2014

The rapid shale gas development in Pennsylvania’s Marcellus shale formation has presented both challenges and opportunities to local governments and communities. In particular, concerns that local governments might be entering a “boom and bust” cycle—similar to previous resource extraction experiences in Pennsylvania’s history—are on the rise.

AMP acquires additional midstream assets in Eagle Ford

08/08/2014

American Midstream Partners LP (AMP) has opted to use, and has received approval of, its right-of-first-offer to acquire the Gonzales County, Tex., full-well-stream gathering system from an affiliate of ArcLight Capital Partners LLC for total consideration not to exceed $110 million. The deal is expected to close late this year or in early 2015.

United Refining, Enbridge to upgrade Line 10 crude oil pipeline

08/08/2014

United Refining Co. has entered into a maintenance and upgrade agreement with Enbridge regarding Line 10, a 74,000-b/d pipeline owned by Enbridge Pipelines Inc. and Enbridge Energy LP transporting crude oil from Canada to URC’s Kiantone Pipeline in West Seneca, NY, serving its 70,000 b/d refinery in Warren, Pa.

MARKET WATCH: Crude oil futures prices gain traction amid Iraqi strife

08/08/2014

Crude oil futures prices gained traction Aug. 7 just as news of rebels belonging to the Islamic State in Iraq and Syria, or ISIS, were seizing more land in the vicinity of Kurdistan, “coming unsettlingly close to a number of oil projects and prompting some international companies to evacuate,” said analysts with Raymond James & Associates Inc.

BHI: US rig count pierces 1,900 mark for first time in 2 years

08/08/2014

The US drilling rig count surpassed the 1,900 mark for the first time since August 2012, jumping 19 units to 1,908 rigs working during the week ended Aug. 8, Baker Hughes Inc. reported.

Blueknight to build Eaglebine-Woodbine crude oil pipeline

08/08/2014

Blueknight Energy Partners LP (BKEP) will build a 160-mile, 16-in. OD pipeline linking the East Texas Eaglebine-Woodbine crude oil play to Oiltanking Houston’s crude oil and product terminal on the Houston Ship Channel, owned and operated by Oiltanking Partners LP. The Knight Warrior project is backed by long-term shipper commitments, including with a joint venture of Vitol, which also owns 50% of BKEP’s general partner, and SEI Energy LLC.

Aramco’s August price differentials drop for destinations outside the US

08/08/2014

Saudi Aramco has reduced its August price differentials for destinations outside the US, especially Europe. These reductions reflect the anticipated reopening of the Ras Lanuf and Es Sider terminals in Libya, which could increase that country’s crude exports by 500,000 b/d. They also reflect the intention for Saudi oil to remain competitive in southern European markets, according to the US Energy Information Administration after data from Arab Oil & Gas.

Statoil lets contract for integrated drilling services

08/08/2014

Statoil ASA has let a 1.15-billion kroner contract to Schlumberger Norway for integrated drilling services on Norwegian continental shelf licenses Gullfaks, Gullfaks Satellites, Snorre, Statfjord, Tordis-Vigdis, and Visund.

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