RSS Oil & Gas Journal News

CNPC signs new agreements with Sudan

Fri, 20 Nov 2009 23:00:40 GMT

November 20,2009 --

China National Petroleum Corp., apparently shrugging off environmentalists’ concerns, has signed three oil and gas cooperation agreements with the government of Sudan.

....

Senate committee members trade barbs at OCS technology hearing

Fri, 20 Nov 2009 22:45:10 GMT

November 20,2009

MARKET WATCH: Crude price falls, gas price rises

Fri, 20 Nov 2009 18:20:10 GMT

November 20,2009 --

The front-month crude contract in the New York market fell Nov. 19, giving back much of its gains from a 3-day rally.

....

Russia, EU sign warning agreement on energy disruptions

Fri, 20 Nov 2009 18:16:00 GMT

November 20,2009 --

Russia's Energy Minister Sergei Shmatko and European Union Energy Commissioner Andris Piebalgs have signed an agreement for an early warning of future disruptions of Russian gas supplies to the EU.

....

Continental Resources names president, COO

Fri, 20 Nov 2009 17:15:20 GMT

November 20,2009 --

Continental Resources Inc. has promoted Jeffrey B. Hume to president and chief operating officer. Hume has served as chief operating officer since October 2008.

....

MARKET WATCH: Crude rallies, gas price falls

Thu, 19 Nov 2009 19:15:40 GMT

November 19,2009 --

Crude prices increased for the third consecutive session Nov. 18 on the New York Mercantile Exchange, buoyed by a weak dollar and unexpected declines in US oil inventories, but still wasn’t able to crack through its apparent ceiling of $8.......

TNK-BP names new chief executive officer

Thu, 19 Nov 2009 18:55:30 GMT

November 19,2009 --

BP PLC and its Russian partners in TNK-BP have named Maxim Barsky as the new chief executive officer for the joint venture, but have delayed his appointment until 2011 so he can gain more experience.

....

S&P examines opportunities for advanced biofuels

Thu, 19 Nov 2009 18:45:40 GMT

November 19,2009 --

Major oil companies and midstream companies face some changes in how they do business if biofuels production expands at the rate required by the US renewable fuel standards (RFS), a credit rating agency reports.

....

UFIP trade group appoints delegate general

Thu, 19 Nov 2009 18:36:00 GMT

November 19,2009 --

Olivier Gantois was appointed delegate general of French Union for Petroleum Industries (UFIP) trade group and will take office in January.

....

Group pushes electric vehicles to cut oil use

Thu, 19 Nov 2009 17:45:40 GMT

November 19,2009 --

A group of corporate chief executives has formed to promote cuts in US oil use through expansion of the electric-powered vehicle fleet.

....

Enel Trade to buy Stratic's Italian unit

Thu, 19 Nov 2009 16:40:10 GMT

November 19,2009 --

Enel Trade SPA is acquiring Stratic Energy Corp.’s Italian business unit for $51 million.

....

OPEC: world oil demand to rise slightly in 2010

Wed, 18 Nov 2009 22:26:00 GMT

November 18,2009 --

The Organization of Petroleum Exporting Countries reported that the world’s economic recovery will drive global oil demand to 85.07 million b/d in 2010, an increase of 0.9%.

....

MARKET WATCH: Crude price climbs; gas declines

Wed, 18 Nov 2009 18:45:10 GMT

November 18,2009 --

Crude prices continued climbing Nov. 17 despite a strengthening US dollar, but the front-month natural gas contract gave up some of its gain from the previous session of the New York market on weaker US manufacturing and mixed weather forecasts.......

NPRA outlines problems in EPA's proposed GHG tailoring rule

Wed, 18 Nov 2009 18:30:50 GMT

November 18,2009 --

A proposed greenhouse-gas tailoring rule for large industrial facilities could cause more problems than it solves, a National Petrochemical & Refiners Association official told the US Environmental Protection Agency on Nov. 18.

....

DOJ orders Cameron to divest assets before acquiring Natco

Wed, 18 Nov 2009 16:35:30 GMT

November 18,2009 --

Cameron International Corp. will be required to divest assets used in the production and sale of oil refining desalters before it proceeds with its $980 million acquisition of Natco Group Inc., the US Department of Justice said on Nov. 17.

....

CSB to investigate Puerto Rico tank farm fire, blast

Tue, 17 Nov 2009 22:50:30 GMT

November 17,2009 --

The US Chemical Safety Board will fully investigate an Oct. 23 tank explosion and fire at Caribbean Petroleum Refining in Puerto Rico that damaged homes and businesses more than a mile away, the board said Nov. 17.

....

Alaska gas pipeline project's first federal coordinator resigns

Tue, 17 Nov 2009 18:00:30 GMT

November 17,2009 --

The first federal coordinator of Alaska natural gas projects, Drue Pearce, gave notice Nov. 16, after US President Barack Obama asked for her resignation.

....

MARKET WATCH: Economic gains, weak dollar boost energy prices

Tue, 17 Nov 2009 17:50:20 GMT

November 17,2009 --

Energy prices rebounded Nov. 16 from a two-session decline with crude up 3.3% with larger than expected US retail sales and growth in Japan’s gross national product.

....

IPAMS chides Congresswoman for letter about hydraulic fracturing

Tue, 17 Nov 2009 17:35:50 GMT

November 17,2009 --

The Independent Petroleum Association of Mountain States has asked US Rep. Diana DeGette (D-Colo.) to stop spreading misinformation in a letter to other members of Congress about hydraulic fracturing in an apparent effort to pass a bill she and.......

Tight market alters European utilities' spending

Tue, 17 Nov 2009 16:55:50 GMT

November 17,2009 --

The economic crisis is forcing European utilities to defer or cancel investments in facilities, renewables, and energy efficiency and to divest assets, according to Cap Gemini SA, Paris, in its annual European Energy Markets Observatory (EEMO)........

Connecticut investor sentenced in Azeri bribery scheme

Tue, 17 Nov 2009 16:05:40 GMT

November 17,2009 --

A federal district judge in New York sentenced Frederic A. Bourke Jr. of Greenwich, Conn., to 1 year and 1 day in prison for his role in a bribery scheme involving Azerbaijan’s national oil company, the US Department of Justice announced........

Former Willbros consultant pleads guilty to bribery charges

Mon, 16 Nov 2009 22:30:50 GMT

November 16,2009 --

A former consultant for Willbros International Inc. pleaded guilty on Nov. 12 to charges that he was part of a conspiracy to pay more than $6 million in bribes to Nigerian government officials and officials of a Nigerian political party, the US.......

MARKET WATCH: Crude prices slip in second session

Mon, 16 Nov 2009 18:36:00 GMT

November 16,2009 --

Energy prices fell in a second consecutive trading session Nov. 13 with crude touching a 1-month low in intraday trade in the New York market following reports of bigger-than-expected increases in US inventories of crude, gasoline, and distilla.......

Devon to divest international, Gulf of Mexico assets

Mon, 16 Nov 2009 17:00:10 GMT

November 16,2009 --

Devon Energy Corp., Oklahoma City, plans to divest its Gulf of Mexico and international assets in a move toward focusing on high-growth US and Canadian onshore assets, the company reported Nov. 16.

....

Pertamina plans 77% capital spending increase

Fri, 13 Nov 2009 22:06:00 GMT

November 13,2009 --

Indonesia’s state-owned PT Pertamina, aiming for an 11% boost in oil production, expects to increase capital expenditure to $4.15 billion in 2010—a 77% increase over spending in 2009, according to a company official.

....

MARKET WATCH: Increased inventories reduce energy prices

Fri, 13 Nov 2009 19:00:30 GMT

November 13,2009 --

Energy prices fell Nov. 12 as traders ignored an International Energy Agency report predicting gobal oil demand will grow in the fourth quarter and focused instead on a US Energy Information Administration report of a larger than expected incre.......

EPA publishes final regulation on oil-spill rule amendments

Fri, 13 Nov 2009 17:25:40 GMT

November 13,2009 --

The US Environmental Protection Agency published a final regulation on Nov. 10 that amends certain requirements for facilities subject to its Oil Spill Prevention, Control, and Countermeasure (SPCC) rule.

....

Bingaman joins Barrasso in CCS bill to offer R&D prize

Fri, 13 Nov 2009 17:05:40 GMT

November 13,2009 --

Senate Energy and Natural Resources Committee Chairman Jeff Bingaman (D-NM) has joined US Sen. John A. Barrasso (R-Wyo.) in proposing a government prize to encourage scientific research and development of carbon capture and storage technology.

....

Black Elk acquires Gulf of Mexico properties

Thu, 12 Nov 2009 21:35:20 GMT

November 12,2009 --

Black Elk Energy LLC, private Houston independent, completed the acquisition of Gulf of Mexico oil and gas properties from an undisclosed seller for $30 million plus other cash considerations.

....

MARKET WATCH: Energy prices rise in 'quiet' holiday market

Thu, 12 Nov 2009 19:05:10 GMT

November 12,2009 --

Crude prices again topped $80/bbl in “relatively quiet” intraday trading Nov. 11 in the New York market with volumes below normal because of the US Veteran's Day holiday.

....

CSB chairman wants more states to adopt ASME pressure vessel code

Thu, 12 Nov 2009 18:25:40 GMT

November 12,2009 --

US Chemical Safety Board Chairman John S. Bresland urged more states to adopt the American Society of Mechanical Engineers’ pressure vessel code to reduce the number of catastrophic accidents resulting from pressure vessel failures.

....

CSIS appoints energy advisory council

Thu, 12 Nov 2009 17:35:50 GMT

November 12,2009 --

The Center for Strategic and International Studies (CSIS) Energy and National Security Program announced the creation of a new senior energy advisory council comprised of former high government officials and industry representatives.

....

Qatar Petroleum acquiring Shell chemical ventures

Thu, 12 Nov 2009 17:11:00 GMT

November 12,2009 --

Qatar Petroleum International signed a series of agreements to acquire two Singapore chemical joint ventures from Royal Dutch Shell PLC.

....

Salazar: Businesses, entrepreneurs critical to energy future

Thu, 12 Nov 2009 17:00:40 GMT

November 12,2009 --

Businesses and entrepreneurs will need to play a critical part if the US is to create a cleaner energy economy, US Interior Sec. Ken Salazar told a North Dakota audience.

....

IADC elects chairman for 2010

Thu, 12 Nov 2009 16:41:00 GMT

November 12,2009 --

The International Association of Drilling Contractors has elected as its 2010 chairman Pride International Inc. Pres. and Chief Executive Officer Louis A. Raspino.

....

MARKET WATCH: Lack of market stimuli pull down energy prices

Wed, 11 Nov 2009 18:35:40 GMT

November 11,2009 --

Energy prices retreated Nov. 10 as Tropical Storm Ida drizzled away without causing much disruption to the production of oil and gas in the Gulf of Mexico.

....

Industry extends funding for sound, marine life research

Wed, 11 Nov 2009 18:15:40 GMT

November 11,2009 --

Oil and gas producers have agreed to extend funding of a joint industry program (JIP) to support research into learning more about how sounds generated by upstream oil and gas activities affect marine life.

....

Noble names senior vice-president, CFO

Wed, 11 Nov 2009 17:35:40 GMT

November 11,2009 --

Noble Energy Inc. has reported that Kenneth M. Fisher will join the company effective Nov. 16 as senior vice-president and chief financial officer.

....

Senate panel considers climate change bill's impacts

Wed, 11 Nov 2009 16:41:00 GMT

November 11,2009 --

Days after one US Senate committee approved a climate change bill with a carbon cap-and-trade program, the chairman of another convened a hearing to examine the possible economic consequences.

....

MARKET WATCH: Storm, market factors lift energy prices

Tue, 10 Nov 2009 19:15:20 GMT

November 10,2009 --

A stronger equities market, weaker dollar, and a tropical storm shutting down production in the Gulf of Mexico combined to push energy prices higher Nov. 9 in the New York market.

....

Tatweer Petroleum formed for Bahrain field development

Tue, 10 Nov 2009 19:10:40 GMT

November 10,2009 --

Occidental Petroleum Corp., Mubadala Development Co., and the National Oil & Gas Authority of Bahrain (NOGA) have formed a joint operating company to further develop Bahrain field.

....

IEA: Recession lowers global energy outlook to 2030

Tue, 10 Nov 2009 17:10:20 GMT

November 10,2009 --

In its 2009 World Energy Outlook (WEO), the International Energy Agency projects in its reference scenario that global energy demand will climb 40% between 2007 and 2030, and the agency says that the world’s energy resources are adequate .......

US House passes chemical security bill with IST provision intact

Mon, 09 Nov 2009 17:25:10 GMT

November 9,2009 --

The US House approved a chemical and water security bill with a provision requiring inherently safer technology (IST) by 230 to 193 votes on Nov. 6, despite objections from the petroleum and other industries.

....

MARKET WATCH: Unemployment increase pushes down oil prices

Mon, 09 Nov 2009 16:30:50 GMT

November 9,2009 --

Energy prices fell Nov. 6 for the second consecutive session in the New York market as the dollar strengthened and the Department of Labor reported the US unemployment rate climbed above 10% for the first time in 26 years.

....

Former Bank of Montreal gas trader settles CFTC charges

Fri, 06 Nov 2009 21:20:20 GMT

November 6,2009 --

A former Bank of Montreal natural gas trader will pay a $500,000 fine as part of an agreement settling charges that he mismarked and misvalued the bank’s gas options book and deceived the bank, the US Commodity Futures Trading Commission .......

MARKET WATCH: Crude slips below $80/bbl

Fri, 06 Nov 2009 18:35:10 GMT

November 6,2009 --

Energy prices dropped Nov. 5 with crude dipping below $80/bbl, even though the equity market “jumped out of its pants” with the Dow Jones Industrial Average up more than 200 points, said analysts in the Houston office of Raymond Jam.......

EPA directs Texaco to resume California Superfund site cleanup

Fri, 06 Nov 2009 17:26:00 GMT

November 6,2009 --

The US Environmental Protection Agency has ordered Texaco Inc., which Chevron Corp. acquired in 2001, to assess soil and ground water contamination and evaluate additional cleanup options for the Pacific Coast Pipeline Superfund site in Fillmor.......

IPAA advocates fact-based hydraulic fracturing study

Fri, 06 Nov 2009 17:10:50 GMT

November 6,2009 --

The Independent Petroleum Association of America will work to ensure that an upcoming study on hydraulic fracturing is scientific, based on facts, and includes input from the oil and gas industry as well as state regulators.

....

GOP House members urge Salazar to not abandon categorical exclusions

Fri, 06 Nov 2009 16:15:30 GMT

November 6,2009 --

Four US House Republicans urged US Interior Secretary Ken Salazar to improve, instead of jettison, categorical exclusions in response to a recent Government Accountability Office report.

....

Oil and gas group forms in Greenland

Fri, 06 Nov 2009 16:00:30 GMT

November 6,2009 --

Responding to “a continuously increasing focus on the possibilities for oil and gas production in Greenland,” seven operators have formed a trade association anticipating industry development in the country.

....

Petrobras signs $10 billion loan with CDB

Thu, 05 Nov 2009 22:00:20 GMT

November 5,2009 --

Brazil’s state-owned oil and gas company Petroleo Brasileiro SA (Petrobras) has signed the final agreements with China Development Bank Corp. (CDB) for a $10 billion loan, which has been under negotiation since May.

....

Democrats send climate bill to Senate floor despite boycott

Thu, 05 Nov 2009 20:55:50 GMT

November 5,2009 --

The US Senate Environment and Public Works Committee approved a global climate change bill by an 11-1 vote despite a boycott by Republican members.

....

MARKET WATCH: Crude price rallies above $80/bbl

Thu, 05 Nov 2009 18:21:00 GMT

November 5,2009 --

Oil prices continued a 3-day rally Nov. 4 with crude closing above $80/bbl in the New York market following bigger-than-expected drops in US inventories of crude and gasoline and a weaker dollar after the Federal Reserve said it would maintain .......

Tudor Pickering Holt forecasts dramatic rise in gas prices

Thu, 05 Nov 2009 15:56:00 GMT

November 5,2009 --

Tudor Pickering Holt & Co. (TPH) foresees a fairly dramatic recovery in natural gas prices next year, a spokesman told an Oct. 29 energy finance summit at Rice University’s Jess H. Jones Graduate School of Business.

....

Gas supply potential linked to corporate strategies

Wed, 04 Nov 2009 18:50:10 GMT

November 4,2009 --

The potential of natural gas to reshape energy markets should exert parallel influence on corporate strategies, speakers said at the RMI Oilfield Breakfast Forum in Houston.

....

CFTC chair calls for comprehensive regulation of emissions markets

Wed, 04 Nov 2009 18:35:20 GMT

November 4,2009 --

Comprehensive regulation of financial derivatives will also need to be a critical component of a well-functioning domestic emissions trading market, US Commodity Futures Trading Commission Chairman Gary G. Gensler said on Nov. 3.

....

MARKET WATCH: Energy prices rack up second day of increases

Wed, 04 Nov 2009 18:20:50 GMT

November 4,2009 --

After daily swings in recent trading sessions, energy prices racked up a second day of increases Nov. 3, spurred by a record-breaking rush for gold in the commodities market.

....

Voinovich joins Senate panel's climate-change markup under protest

Wed, 04 Nov 2009 18:15:50 GMT

November 4,2009 --

As other Republicans boycotted the US Senate Environment and Public Works Committee’s markup of global climate-change legislation on Nov. 3, George V. Voinovich (Ohio) showed up to work with what he said was still incomplete information.

....

Origin buys Otway gas project stake from Woodside

Tue, 03 Nov 2009 20:35:40 GMT

November 3,2009 --

Origin Energy Ltd., Sydney, has acquired 51.55% interest in the Otway gas project in western Victoria from joint venture partner Woodside Petroleum Ltd., Perth, for $712.5 million (Aus.).

....

MARKET WATCH: Oil rides latest rise in seesaw price pattern

Tue, 03 Nov 2009 17:25:30 GMT

November 3,2009 --

The price of crude continued its recent seesaw pattern, rising again Nov. 2 on a weaker dollar, better than expected Chinese manufacturing data, and improved economic indicators in the US.

....

Dominion appoints chief executive officer

Tue, 03 Nov 2009 16:55:40 GMT

November 3,2009 --

Dominion has appointed Andrew Cochran as chief executive officer.

....

MARKET WATCH: Crude, products give up gains from rally

Mon, 02 Nov 2009 18:25:20 GMT

November 2,2009 --

Prices for crude and petroleum products fell Oct. 30, wiping out gains for the previous day’s rally in the New York market, as the dollar strengthened against most currencies and US consumer spending fell amid doubts the economy is improv.......

Engineering firm executives sentenced in Alaska bribery case

Mon, 02 Nov 2009 16:20:30 GMT

November 2,2009 --

Two former officials of an Alaskan oil field engineering and construction company were sentenced on Oct. 28 for their roles in a scheme that paid $395,000 in bribes to state officials, the US Department of Justice said.

....

CSIS: unconventional resources altering global gas outlook

Fri, 30 Oct 2009 21:25:40 GMT

October 30,2009 --

Production potential from tight shales and other unconventional resources has significantly altered the world’s natural gas outlook, experts said Oct. 28 at a seminar on the evolution of global gas markets at the Center for Strategic and .......

OSHA fines BP $87.4 million in Texas City aftermath

Fri, 30 Oct 2009 17:05:50 GMT

October 30,2009 --

The US Department of Labor’s Occupational Safety and Health Administration announced a proposed fine of $87.4 million against BP Products North America Inc., saying the company failed to correct safety problems at its Texas City, Tex., re.......

MARKET WATCH: Oil prices rise on GDP report

Fri, 30 Oct 2009 16:05:40 GMT

October 30,2009 --

Oil prices rose on the New York market Oct. 29 following reports the gross domestic product jumped higher than expected during the latest quarter, renewing optimism about the end of the economic slump.

....

US Senate panel ponders role of gas in climate-change effort

Thu, 29 Oct 2009 21:50:30 GMT

October 29,2009 --

Witnesses at an Oct. 28 US Senate committee hearing generally agreed that natural gas should play a major part in US efforts to address global climate change. They also disagreed on how big a part it should be.

....

Aramco to drop WTI as pricing guide for crude

Thu, 29 Oct 2009 21:00:50 GMT

October 29,2009 --

Saudi Aramco said it is switching from West Texas Intermediate to an index of Gulf Coast sour crudes as the benchmark for pricing its oil for sale in the US.

....

MARKET WATCH: More gasoline, stronger dollar undercut energy prices

Thu, 29 Oct 2009 16:50:50 GMT

October 29,2009 --

Energy prices continued their recent pattern of up one day, down the next on Oct. 28, with crude dropping below $78/bbl in the New York market after the Department of Energy reported a larger than expected increase in US gasoline inventories.

....

Chinese oil product use expected to rise 10-13% in 4Q

Thu, 29 Oct 2009 16:25:10 GMT

October 29,2009 --

China’s consumption of oil products is expected to increase 10-13% in the fourth quarter after sluggish demand in the first 9 months of this year, according to state media.

....

SEG: Saleri says oil, gas key in new energy era

Thu, 29 Oct 2009 15:25:10 GMT

October 29,2009 --

The world has entered a new energy era in which overall energy efficiency and oil recovery efficiency will improve, environmental harmony will grow, and oil, gas, and coal will continue to dominate.

....

Paris summit urges investment for future gas supply

Wed, 28 Oct 2009 21:41:00 GMT

October 28,2009 --

Natural gas is “complementary to renewables” and “a key part of the solution to climate change” in the developing low-carbon global economy, said panelists at the recent 14th International Gas & Electricity Summit in.......

BP identifies midstream assets to divest

Wed, 28 Oct 2009 17:35:40 GMT

October 28,2009 --

BP PLC has identified 22 US properties for divestment in a midstream asset review aimed at bolstering profitability of its refining and associated operations.

....

MARKET WATCH: Crude price rises from slump

Wed, 28 Oct 2009 17:16:00 GMT

October 28,2009 --

Energy prices rose Oct. 27 with the front-month crude contract pulling out of a three-session slump to approach again the $80/bbl price level in volatile trading in the New York market.

....

House members urge ocean policy task force not to restrict OCS development

Wed, 28 Oct 2009 16:55:50 GMT

October 28,2009 --

Proposals in an interim report by the Obama administration’s Inter-Agency Ocean Policy Task Force must not interfere with the nation’s ability to safely develop its offshore resources, 68 US House members said on Oct. 26.

....

Incoming Chevron CEO's touts 'lead by example' message

Wed, 28 Oct 2009 16:41:00 GMT

October 28,2009 --

The US should make more of its resources accessible if it expects other countries to do the same for major US oil companies and independent producers, Chevron Corp.’s incoming chief executive suggested on Oct. 27.

....

SEG: Energy R&D demands funds, collaboration

Tue, 27 Oct 2009 19:40:50 GMT

October 27,2009 --

Energy research and development challenges are becoming more complex, demand integrated and individual approaches, and are in need of wider funding sources, concluded a forum at the Society of Exploration Geophysicists annual meeting in Houston.......

MARKET WATCH: Stronger dollar drives oil price below $79/bbl

Tue, 27 Oct 2009 16:30:50 GMT

October 27,2009 --

Energy prices continued to fall Oct. 26 with crude dropping 2.3% in the New York market as the dollar strengthened from a 14-month low against the euro.

....

Ivanhoe Energy Canada appoints president, CEO

Tue, 27 Oct 2009 16:26:00 GMT

October 27,2009 --

Ivanhoe Energy Inc., Calgary, has appointed David Dyck as president and chief executive officer of its Canadian subsidiary, Ivanhoe Energy Canada Inc.

....

Congressional tax leaders urged to back high-paying energy jobs

Tue, 27 Oct 2009 15:55:20 GMT

October 27,2009 --

A coalition of 15 labor unions and the American Petroleum Institute urged congressional tax policy leaders to support proposals that would protect and encourage the development of high-quality US energy jobs while fortifying national energy and.......

KNOC to buy Harvest Energy Trust

Mon, 26 Oct 2009 21:20:40 GMT

October 26,2009 --

Korea National Oil Corp. plans to buy Harvest Energy Trust for $1.8 billion (Can.) plus the assumption of $2.3 billion in debt.

....

WoodMac: Carbon bill could cost US refiners $100 billion/year

Mon, 26 Oct 2009 21:15:40 GMT

October 26,2009 --

Proposed legislation on carbon capture and sequestration potentially could cost US refiners $100 billion/year, threatening the sustainability of the domestic refining industry and giving undue favor to non-US refiners, said analysts at Wood Mac.......

MARKET WATCH: Energy prices retreat as equities market stumbles

Mon, 26 Oct 2009 18:05:20 GMT

October 26,2009 --

Energy prices retreated Oct. 23 with crude dipping briefly below $80/bbl in the New York market as the equities market stumbled and the dollar strengthened from a 14-month low.

....

MARKET WATCH: Crude prices dip as dollar strengthens

Fri, 23 Oct 2009 15:46:00 GMT

October 23,2009 --

Crude prices pulled back slightly Oct. 22, still influenced more by the fluctuating value of the US dollar than by market fundamentals of supply and demand.

....

EPA fines Chaparral Energy, Hunt Oil for CWA violations

Thu, 22 Oct 2009 18:35:50 GMT

October 22,2009 --

The US Environmental Protection Agency fined Chaparral Energy LLC and Hunt Oil Co. for separate Clean Water Act violations, the federal regulator’s Dallas office said on Oct. 21.

....

MARKET WATCH: Crude rallies to $82/bbl in New York

Thu, 22 Oct 2009 18:00:10 GMT

October 22,2009 --

After a single-day decline, prices for crude and petroleum products came roaring back Oct. 21 in the New York market, with the new front-month December crude contract hitting a fresh year-long high of $82/bbl in intraday trading.

....

Lawsuits point to climate change litigation threat

Thu, 22 Oct 2009 17:25:50 GMT

October 22,2009 --

A climate change litigation threat appears to be looming for the oil and gas industry in the wake of a US Supreme Court decision allowing the regulation of greenhouse gases as air pollutants.

....

Plains All American buys Tulsa storage

Thu, 22 Oct 2009 15:45:40 GMT

October 22,2009 --

Plains All American Pipeline LP has bought receiving pipelines, a manifold system, and 400,000 bbl of crude oil storage capacity at Holly Corp.’s 85,000-b/d refinery in Tulsa for $40 million cash.

....

MARKET WATCH: Gas tops $5/MMbtu; oil ends rally

Wed, 21 Oct 2009 18:10:20 GMT

October 21,2009 --

The front-month natural gas contract shot above $5/MMbtu to a 9-month high Oct. 20 amid cold weather forecasts while crude declined, ending an eight-session rally as a disappointing housing report sucked the confidence out of the equities marke.......

Cap-and-trade preferable to EPA regulation, experts say

Wed, 21 Oct 2009 17:30:20 GMT

October 21,2009 --

Congress should continue to make a carbon cap-and-trade system its top global climate-change legislative priority because it would be the most efficient and economically attractive approach, three experts agreed on Oct. 20.

....

Salazar announces oil shale lease round, addenda inquiry

Wed, 21 Oct 2009 15:00:40 GMT

October 21,2009 --

US Interior Secretary Ken Salazar announced a second round of federal oil shale leases on Oct. 20 with substantially different terms than the first round.

....

APPEA issues update on Montara oil leak

Wed, 21 Oct 2009 14:51:00 GMT

October 21,2009 --

Australia’s oil and gas industry expects within days to stop an oil leak from Montara field in the Timor Sea off Western Australia, said the Australian Petroleum Production & Exploration Association.

....

Study estimates added costs of US energy production, consumption

Tue, 20 Oct 2009 22:05:30 GMT

October 20,2009 --

US energy production and consumption cost an estimated $120 billion, primarily from motor vehicle and electric power plant emissions, beyond market prices in 2005, the National Research Council said in a study.

....

MARKET WATCH: Crude tops $80/bbl in after-hours trading

Tue, 20 Oct 2009 17:20:50 GMT

October 20,2009 --

Crude prices continued climbing Oct. 19 for the eighth consecutive session on the New York market and broke briefly above $80/bbl for the first time in more than a year during after-hours electronic trading.

....

ExxonMobil ordered to pay $104.7 million in MTBE case

Tue, 20 Oct 2009 16:41:00 GMT

October 20,2009 --

A US District Court in Manhattan found ExxonMobil Corp. liable for contaminating New York City’s ground water with methyl tertiary butyl ether (MTBE) and awarded the city $104.7 million in damages, New York City officials said.

....

DOJ seeks more information from Baker Hughes, BJ Services

Mon, 19 Oct 2009 19:25:20 GMT

October 19,2009 --

The Justice Department’s antitrust division asked for more information from Baker Hughes Inc. and BJ Services Co. regarding the proposed merger of the two firms.

....

MARKET WATCH: Crude price climbs to year-long highs

[No Value Specified] — Mon, 19 Oct 2009 17:35:20 GMT

October 19,2009 --

Crude continued climbing Oct. 16 for the seventh consecutive trading session to set new 1-year highs above $78/bbl on the New York market.

....

IEA, Eurogas addresses gas supply security

[No Value Specified] — Mon, 19 Oct 2009 16:55:50 GMT

October 19,2009 --

European gas security has received high-level attention on two fronts.

....

CERI sees US economic gains from Canadian oil sands

[No Value Specified] — Mon, 19 Oct 2009 14:50:50 GMT

October 19,2009 --

Canadian oil sands development represents a potential economic boon that could lead to more than 342,000 new US jobs, concluded a Canadian Energy Research Institute study commissioned by the American Petroleum Institute.

....

Gazprom signs gas deal with Azerbaijan

Fri, 16 Oct 2009 22:05:50 GMT

October 16,2009 --

OAO Gazprom will import 500 million cu m of Azerbaijani gas starting in January 2010 under a contract signed with State Oil Co. of Azerbaijan Republic (SOCAR).

....