International news for oil and gas professionals
Let's assume you're a typical American, typically scornful of the oil and gas industry. You don't work for the industry. You don't know much about it. In fact, your only direct contact with the industry occurs when you buy gasoline.
Opposition by specific refiners to US exports of crude oil should surprise no one. The export ban suppresses the price of domestically produced light, sweet crude oil relative to that of comparable international crude over time.
Witnesses at a US Senate Foreign Relations Committee hearing sharply disagreed on whether the proposed Keystone XL crude oil pipeline would help or hinder US security.
An estimated $640.9 billion, or an average $29.1 billion/year, will need to be spent on US and Canadian midstream crude oil, natural gas, and natural gas liquids infrastructure from 2014 through 2035, the INGAA Foundation forecasts in a recent study.
The US Bureau of Ocean Energy Management reported that its central Gulf of Mexico Lease Sale 231 received 380 bids from 50 companies on 326 blocks, resulting in a total of $850 million in apparent high bids. The lease sale was held Mar. 19 in New Orleans.
The US Environmental Protection Agency and BP PLC reached an agreement that will effectively end the bar on new federal contracts imposed on the multinational oil company in the wake of the 2010 Macondo deepwater well incident and crude oil spill.
Government officials in Albany County, NY, have issued a moratorium on Global Partners LP's plans to increase the processing of Bakken crude oil at the Port of Albany pending a public health investigation by the county's health department.
US Sen. Mark Begich (D-Alas.) let three US House Democrats know he did not approve of their request for the US Bureau of Land Management to add 30 days to the public comment period for the Greater Mooses Tooth draft supplemental environmental impact statement covering a proposed oil development within the National Petroleum Reserve-Alaska (NPR-A).
Alaska's state government apparently doesn't want people to forget there's still significant oil and gas potential beneath the Arctic National Wildlife Refuge's coastal plain amid talk of incredible possible domestic supplies in tight shales and deep offshore.
Chevron Corp. will increase production by 20% through 2017 without raising capital expenditures, executives said Mar. 11 at the company's annual security analyst meeting in New York.
BP Trinidad & Tobago's (BPTT) Ocean Bottom Cable Seismic (OBCS) has already added significant proved reserves to its Angelin gas discovery in 80 m of water offshore the east coast of Trinidad and Tobago, the company said.
Global oil demand in 2013 rose by 1.3 million b/d year-over-year to 91.3 million b/d, according to the latest, near-complete set of demand data for the year, the International Energy Agency said in its most recent monthly Oil Market Report.
The US natural gas industry should remind House Republicans that geopolitical power works best in silence, that bluster dissipates influence.