More Oil & Gas News

MARKET WATCH: NYMEX crude oil for September dips under $45/bbl, Brent still below $50/bbl

The light, sweet crude oil contract for September delivery settled below $45/bbl on the New York market Aug. 6 while the Brent price for the same month remained below $50/bbl on the London market. The downward momentum appeared to be continuing in early Aug. 7 trading.

BLM seeks comments on proposed gas line route change in Colorado

The US Bureau of Land Management is seeking comments on a SourceGas LLC subsidiary’s proposal to upgrade and potentially reroute a natural gas pipeline that currently transects the Eagle Ranch subdivision in Eagle County, Colo.

Carper bill would raise gasoline, diesel taxes for Highway Trust Fund

US Sen. Thomas R. Carper (D-Del.) has introduced legislation that would hike federal gasoline and diesel fuel taxes to raise revenue for the federal Highway Trust Fund. He said his bill would increase the taxes, which have not changed since 1993, by 4¢/year for 4 years, and subsequently index them to inflation.

TurkmenGaz to lead TAPI pipeline venture

State-owned TurkmenGaz of Turkmenistan will lead the consortium of national governments planning to build, own, and operate the 1,800-km Turkmenistan-Afghanistan-Pakistan-India (TAPI) natural gas pipeline.

Gazprom, BASF to cooperate on Nord Stream II project

Russia’s OAO Gazprom and Germany’s BASF SE have signed a memorandum of intent stipulating cooperation on construction of the Nord Stream II gas pipeline.

Saudi Aramco launches carbon capture pilot project

Saudi Aramco reported the launch of a carbon capture and storage pilot project in an attempt to enhance oil recovery while reducing carbon dioxide emissions. Aramco hopes the project, which it is calling the largest of its kind in the Middle East, will demonstrate enhanced oil recovery beyond the more common method of water flooding.

ExxonMobil continues Midland basin leasehold expansion

ExxonMobil Corp. has executed two agreements to obtain horizontal development rights in 48,000 acres in the core of the Midland basin. Neither the seller nor the purchase price was disclosed.

MARKET WATCH: NYMEX, Brent oil prices drop on ample crude supply

The light, sweet crude oil contract for September delivery dropped on the New York market Aug. 5 to remain below $46/bbl while the Brent price settled below $50/bbl again on the London market upon lingering concerns about an oversupplied world oil market.

FERC seeks comments on Atlantic Coast Pipeline route alternatives

The US Federal Energy Regulatory Commission is seeking comments from landowners who potentially might be affected by newly identified routes for the proposed Atlantic Coast Pipeline about possible environmental impacts. It also sent the Aug. 5 notice to federal, state, and local government agencies; Indian tribes; environmental and other public interest groups; and other stakeholders.

Senate panel probes ‘sue-and-settle’ tactics’ impacts on policymaking

Environmental litigation settlements, which proponents say help the public make certain federal agencies are diligently implementing congressionally mandated regulations, actually sabotage sound policymaking, several witnesses told a US Environment and Public Works Committee subcommittee. But another said provisions allowing citizens to sue the government are an essential part of US environmental law and must be protected.

NextEra to acquire South Texas gas lines

NextEra Energy Partners LP, Juno Beach, Fla., has agreed to acquire natural gas pipelines in South Texas from privately held NET Midstream for $2.1 billion.

Santos makes executive appointments

Santos Ltd. has made some recent executive appointments. Brett Woods, currently general manager, Western Australia and Northern Territory, has been appointed vice-president, eastern Australia.

API: Oil, natural gas boost 2015 US trade balance

The oil and natural gas industry continues to drive US economic gains in 2015, a trend that could accelerate under free trade policies, noted API Chief Economist John Felmy in comments about the Aug. 5 midyear trade report from the US Department of Commerce.

PwC: Midstream boosts 2Q M&A activity in US oil, gas industry

The US oil and gas industry experienced an uptick in second-quarter mergers and acquisitions compared with the first quarter, facilitated by heightened interest in midstream deals, according to a quarterly report of announced US transactions with value greater than $50 million.

Energy Institute guide explains UK shale gas

The Energy Institute (EI), London, has published a 20-page guide to shale gas, aiming, it says, “to bring scientific and technical accuracy to the debate” over development of natural gas from shales in the UK.

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