More Oil & Gas News

The American Petroleum Institute and American Fuel & Petrochemical Manufacturers welcome the US Environmental Protection Agency’s proposals to address renewable fuel credit fraud, but would like to see the agency go further, the trade associations jointly said.

Oil prices rebounded Apr. 18 with the front-month crude contract up 1.2% from its low for the year in the previous session on rumors ministers of the Organization of Petroleum Exporting Countries may call a special meeting in response to sinking markets.

Four oil and gas associations—American Petroleum Institute, American Fuel & Petrochemical Manufacturers, Independent Petroleum Association of America, and Western States Petroleum Association—joined 20 other business groups on Apr. 18 in asking the US Supreme Court to review the US Environmental Protection Agency’s regulation of greenhouse gases.

Andrew Mackenzie has been named chief executive officer of BHP Billiton Ltd., succeeding Marius Kloppers, who will retire. Mackenzie has been group executive and chief executive nonferrous.

Commodity and equity markets took another pounding Apr. 17 with front-month crude falling 2.3% to a new low for the year in the New York futures market due to a bearish inventory report and a strengthening US dollar.

Calls for the Obama administration to authorize construction of the Keystone XL crude oil pipeline’s final segment increased as the US Department of State began hearings on the project in Grand Island, Neb., on Apr. 18.

Atlas Pipeline Partners LP has agreed to buy Eagle Ford shale natural gas gathering and processing company Teak Midstream LLC.

US states are the most qualified to regulate oil and gas development within their boundaries because they’re well acquainted with unique geological and environmental conditions there, officials from three state governments told the US House Natural Resources Committee.

Oil markets generally were down Apr. 16 with front-month crude essentially flat after dropping to its lowest price of the year in the previous session on the New York market and North Sea Brent closing below $100/bbl for the first time since July.

Rosneft and Marubeni Corp. signed a memorandum of cooperation covering possible joint oil and exploration and development as well as associated LNG project implement, the companies reported.

Concerned about rising domestic oil consumption, the new minister of energy of the United Arab Emirates has called for national-level improvements in energy-use efficiency.