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DOT proposes new rules for transporting crude oil by rail

Jul 23, 2014

A train with 20 or more tank cars carrying crude oil, ethanol, or other flammable liquids would be classified as a high-hazardous flammable train (HHFT), and would be subject to lower speed limits, routing risk assessments, and other new requirements under new US Department of Transportation regulatory proposals.

Center for LNG urges DOE to scrap proposed export review changes

Jul 23, 2014

The US Department of Energy’s proposal to only issue national interest determinations to LNG export projects that have completed a National Environmental Policy Act review should be withdrawn, the Center for Liquefied Natural Gas said.

Diamondback to expand Midland basin acreage

Jul 23, 2014

Diamondback Energy Inc., Midland, Tex., has entered into a definitive purchase agreement with unrelated third party sellers to acquire 16,773 gross (13,136 net) acres in Midland, Glasscock, Reagan, and Upton counties in Texas for $538 million.

Oil & Gas UK welcomes consultation on uHPHT allowance

Jul 23, 2014

Oil & Gas UK said it welcomes the opening of a formal consultation by HM Treasury on a new cluster area allowance to support investment in ultrahigh-pressure, ultrahigh-temperature (uHPHT) oil and gas fields on the UK Continental Shelf (UKCS).

MARKET WATCH: NYMEX crude oil futures drop modestly awaiting inventory

Jul 23, 2014

Crude oil futures fell modestly on the New York market July 22 as traders and analysts awaited a weekly US government report on petroleum inventories and as participants across international oil markets awaited developments in the Russia-Ukraine conflict.

CERI: Costs up for oil sands production

Jul 23, 2014

The costs of producing bitumen and synthetic crude in the Albertan oil sands have increased over the past year, says the Canadian Energy Research Institute in an annual report that projects steady growth in output.

Chevron accepts amended plan for Richmond refinery revamp

Jul 22, 2014

Chevron Corp. has agreed to accept an alternative, more environmentally friendly plan proposed by city officials for the long-delayed $1 billion modernization of its 257,000-b/d Richmond, Calif., refinery.

DOE wants to mobilize subsurface engineering R&D efforts

Jul 22, 2014

The US Department of Energy wants to mobilize federal government, oil and gas industry, university, and other research to address subsurface engineering challenges, particularly controlling fracture propagation and fluid flow, officials said at the first of several projected discussions.


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