Most Recent Stories

Fire extinguished from Energy XXI platform offshore Louisiana

Fri, Jan 23, 2015

A fire has been extinguished from a producing, unmanned platform in the Gulf of Mexico following damage that was possibly caused by a vessel, the US Bureau of Safety and Environmental Enforcement (BSEE) reported on Jan. 23.

Data refute Lew’s claims about taxes paid by producers

Fri, Jan 23, 2015

On the subject of taxation, administration officials count on the public to believe anything.

API: US petroleum demand up in December, oil production highest since 1972

Fri, Jan 23, 2015

Total US petroleum deliveries, a measure of demand, increased 5.1% last month from December 2013 to average nearly 20 million b/d, according to the American Petroleum Institute’s monthly statistics for December 2014. For the fourth quarter, total US petroleum deliveries gained 2.9% compared with the same period in 2013.

Varo Energy plans upgrades for Swiss refinery

Fri, Jan 23, 2015

Varo Energy BV, a midstream company owned by The Carlyle Group and Vitol Group, plans to invest more than 50 million Swiss francs ($56 million) this year into maintenance and modernization projects at its 68,000 b/d Cressier refinery near Neuchatel, Switzerland.

BHI: US rig count falls for 8th straight week, down 43 units

Fri, Jan 23, 2015

The US drilling rig count fell 43 units to settle at 1,633 rigs working during the week ended Jan. 23, Baker Hughes Inc. reported.

IMF: Most oil exporters facing deficits

Fri, Jan 23, 2015

Most oil exporting countries will run fiscal deficits this year if the crude price averages $57/bbl as currently indicated by markets, according to the International Monetary Fund.

Gazprom’s Baltic LNG project to be built in Ust-Luga

Fri, Jan 23, 2015

OAO Gazprom has determined that its 10-million-ton Baltic LNG plant will be built near the seaport of Ust-Luga, Leningrad Oblast, Russia. The project is now preparing for the investment stage.

Estill named chief executive officer of Madagascar Oil

Fri, Jan 23, 2015

Madagascar Oil Ltd. has appointed Robert Estill as chief executive officer.

Senate votes to recommend closing Keystone XL tax loophole

Fri, Jan 23, 2015

The US Senate voted to recommend that the House originate legislation that would make heavy crude oil moving through the proposed Keystone XL pipeline subject to the excise tax on other transported crudes that goes into the federal Oil Spill Liability Trust Fund.

MARKET WATCH: NYMEX oil price drops more than $1/bbl on bigger inventory

Fri, Jan 23, 2015

Oil prices dropped more than $1/bbl on the New York market Jan. 22 on a bigger-than-expected jump in US oil supplies, and traders on Jan. 23 said news of Saudi Arabia King Abdullah’s death brought uncertainty regarding future US-Saudi relations.

Pengrowth cuts capital spending due to declining oil prices

Fri, Jan 23, 2015

The recent “rapid” decline in world oil prices is the main reason given by Pengrowth Energy Corp., Calgary, for setting its 2015 capital budget at $200 million, 74% below its $770 million budget for 2014.

EPP to add 50,000 b/d of capacity to Panola NGL pipeline

Thu, Jan 22, 2015

Enterprise Products Partners LP (EPP) will expand its Panola Pipeline Co. LLC NGL pipeline system, having received sufficient shipper interest to do so. The 181-mile system extends from Carthage, Tex., to Mont Belvieu, Tex., where it delivers to multiple destinations, including EPP’s Mt. Belvieu fractionation complex.

E&Y: Oil-price collapse to boost global M&A activity in 2015

Thu, Jan 22, 2015

The oil-price collapse will facilitate increased global transaction activity in 2015 as companies revise and implement new strategies, according to a quarterly report on the industry published by Ernst & Young.

BASF plans capacity expansion at Geismar petrochemicals plant

Thu, Jan 22, 2015

BASF Corp., the North American affiliate of BASF SE, Ludwigshafen, Germany, plans to boost production of 1, 4-butanediol (BDO) at its Geismar, La., petrochemicals plant by next year.

Kuwait lets contract for Mina Abdullah refinery

Thu, Jan 22, 2015

Kuwait National Petroleum Co. (KNPC), through a subcontractor, has let a contract to Mushrif Trading & Contracting Co. for work related to its Clean Fuels Project (CFP) at the Mina Abdullah refinery in southern Kuwait.

Stay Connected