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Toughened oversight raises antitrust hazards of oil industry collaboration

Because federal antitrust agencies have intensified their oversight of the oil and gas industry recently, US operators and service providers must be more wary than ever of the risks of joint ventures and other collaboration with competitors.

Ten guidelines for managing the risks of collaboration

These guidelines can help oil and gas operators manage the antitrust risks of collaborations with competitors:

Letters

UK government proposes tax incentives for shale gas E&P

The UK government continues working toward offering tax breaks to encourage shale gas exploration and production, and the proposed measures could make onshore shale exploration more attractive to oil and gas companies already operating offshore UK, a Deloitte spokesman said.

Chesapeake Energy establishes office of chairman

The board of Chesapeake Energy Corp. has established a three-member office of the chairman while continuing its previously announced chief executive officer search process.

Flores, House members file bill to curb ESA settlement abuses

US Rep. Bill Flores (R-Tex.) introduced a bill that aims to curb costs and regulations resulting from federal Endangered Species Act closed-door litigation settlements between the US Fish and Wildlife Service and environmental organizations.

MARKET WATCH: Oil, gas prices climb in volatile markets

Markets were down in early trading Mar. 27, but front-month crude managed a 0.2% increase by the time floor transactions ended in New York. Natural gas continued its cold weather rally, up 2.5% in the session.

Gray named Australia's resources and energy minister

Following the resignation last week of Australian Minister for Resources and Energy Martin Ferguson, Prime Minister Julia Gillard has named Western Australian MP Gary Gray as the new minister.

API official chosen to lead ANGA

Martin J. Durbin, currently executive vice-president at the American Petroleum Institute, will become president and chief executive of America’s Natural Gas Alliance effective May 1, ANGA announced.

MARKET WATCH: Economic indicators boost oil prices

Oil prices increased Mar. 26 with crude up 1.4% to its highest close in a month on the New York market, buoyed by improved US economic data and near-resolution of the Cyprus crisis. Natural gas climbed 2.8% with cooler weather.

Eni, Enel plan work on electric mobility

Eni SPA and Enel, Italy’s largest electric power company, have signed a letter of intent covering cooperation on electric mobility.

UK group expands relief-well plan guidelines

The Well Life Cycle Practices Forum, a UK group formed in response to the Macondo tragedy in the Gulf of Mexico in 2010, has published a second edition of its guidelines for relief-well planning for work on the UK continental shelf (OGJ Online, July 31, 2012).

Gazprom faces growing pressure to change, experts say in report

Changing global natural gas markets may compel Russia’s state gas company Gazprom to dramatically change, two Washington observers suggested, but the changes won’t be easy, and will take time, they said during a seminar at the Atlantic Council.

MARKET WATCH: Cypriot agreement boosts oil prices

Energy prices generally were up Mar. 25 with front-month crude up 1.2% in the New York market after European leaders reached a bailout agreement with Cyprus, but other economic indicators remain mixed.
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