International news for oil and gas professionals
Northern Canada’s lesser-explored basins leave lots of scope for big plays, including in thick sections of Devonian-age sediments.
Drought in the US shines harsh light on the lunacy of converting food into vehicle fuel. According to the US Department of Agriculture, the corn yield this year will drop to its lowest level since 1995.
US Sec. of the Interior Ken Salazar announced a new National Petroleum Reserve-Alaska (NPR-A) plan that he said would balance meeting US energy needs with preserving wildlife and Alaska Native subsistence culture.
The Obama administration did not properly consult with coastal states as it prepared its 2012-17 US Outer Continental Shelf management program, seven governors from coastal states charged.
A bipartisan coalition of 44 US House members from four Gulf Coast and Midcontinent oil and gas producing states asked US Sec. of Energy Steven Chu to facilitate approval of LNG export terminals around the country.
Ken Salazar said he regretted not being able to spend more time in Alaska as he concluded his fourth visit there as US Interior Secretary on Aug. 13. State officials nevertheless gave him an earful about crude oil pipelines while he was there.
The US Chemical Safety Board will fully investigate what caused an Aug. 6 fire at Chevron USA Inc.’s 240,000 b/d Richmond refinery in Martinez, Calif., CSB announced on Aug. 11.
Eagle Rock Energy Partners LP, Houston, will pay $227.5 million in cash for two BP America Production Co. processing plants and associated gathering that serves the Texas Panhandle.
Tesoro Corp. will buy BP’s 266,000-b/d Carson refinery adjacent to its 97,000-b/d Wilmington refinery south of Los Angeles in a deal estimated to be worth $2.5 billion.
Price caps on key oil products are ravaging the finances of state-owned refiners in India.
Based on weaker economic growth assumptions, the International Energy Agency has reduced its outlook for 2013 worldwide oil demand by 150,000 b/d from its month-ago forecast.
DCP Midstream LLC, Denver, will double its processing capacity in the Denver-Julesburg basin by yearend 2014, the company reported.
Dragon Oil PLC said it has built production to 70,017 b/d of oil on Aug. 11 from the Cheleken contract area in the eastern Caspian Sea offshore Turkmenistan.
Disappointing reservoir performance of two fields on the once-promising KG D6 block in deep water off eastern India has led to sharp cuts in reserves estimates (OGJ Online, Jan. 20, 2012).
Although new oil is much in the news these days, old oil represents big potential worth similar attention.