More Oil & Gas News

Texas Petro Index reaches record-high for February

The Texas Petro Index (TPI), a composite index based on a comprehensive group of upstream economic indicators released by the Texas Alliance of Energy Producers (TAEP), reached yet another record high, tallying a score of 300.6 in February as a result of rapidly increasing production, higher wellhead prices, and revised statewide employment numbers.

DOE lets ConocoPhillips Alaska resume LNG sales to non-FTA countries

The US Department of Energy approved a ConocoPhillips Co. subsidiary’s request to resume exports of LNG to countries not having a free-trade agreement with the US from the company’s Kenai facility in Alaska in an Apr. 14 order. ConocoPhillips’s authorization for such LNG exports from the site expired on Mar. 31, it noted.

EPA white papers offer hint of methane, VOC emissions

The US natural gas industry received a preview of a new regulatory push on Apr. 15 when the Environmental Protection Agency published white papers on emissions of methane and volatile organic compounds (VOCs) in five operational categories.

Noble to appoint new chief executive officer

Noble Energy Inc. reported that Charles D. Davidson, chairman and chief executive officer, plans to retire and leave the company’s board on May 1.

MARKET WATCH: Brent prices climb on Ukraine, Libya news; NYMEX oil follows

Ongoing political instability in Ukraine and Libya continued to drive up crude oil futures prices on New York and London markets Apr. 14 to their highest levels in more than a month.

Lukoil to sell CIRL stake to Sinopec

OAO Lukoil reported plans to sell its 50% stake in Caspian Investment Resources Ltd. (CIRL) to Sinopec for about $1.2 billion. Closing is expected before yearend.

BP intends to divest Texas Panhandle assets

BP America Production Co. said it intends to divest assets in the Hugoton and Panhandle West fields in Sherman and Moore counties in the Texas Panhandle. The company will retain deep rights below the base of the Brown Dolomite, it said.

MARKET WATCH: Crude oil futures price trends higher at week’s end

The crude oil futures contract trended higher at the close of the week ended Apr. 11.

EIA: LNG shows potential as a railroad fuel

Continued growth in US natural gas production and substantially lower gas prices compared with crude oil prices lead to strong potential for fueling freight locomotives with LNG, according to the US Energy Information Administration’s Annual Energy Outlook 2014 (AEO2014).

Senate leaders ask EIA for detailed look at crude export impacts

US Senate Energy and Natural Resources Committee leaders asked the Energy Information Administration to conduct a more extensive analysis of possible consequences from lifting or easing the ban on exporting domestically produced crude oil.

USCG: 'Chain of errors' led to Shell drilling unit running aground

A US Coast Guard (USCG) investigation has found that a "chain of errors" led to the Royal Dutch Shell PLC conical drilling unit, the Kulluk, running aground on Sitkalidak Island, Alas., in December 2012.

Greenland in transition

Anadarko settles legacy claims against Kerr-McGee for $5.15 billion

Anadarko Petroleum Corp. and subsidiaries it acquired when it bought Kerr-McGee Corp. in 2006 agreed to pay $5.15 billion to settle fraudulent conveyance allegations brought by the US government and co-plaintiff Anadarko Litigation Trust in the bankruptcy of Tronox Inc.

IEA: Global oil supplies plunge in March on lower OPEC output

Global crude oil supplies fell month-on-month in March by a steep 1.2 million b/d to 91.75 million b/d, with a decline in output from members of the Organization of the Petroleum Exporting Countries accounting for near 75% of the loss, according to the International Energy Agency’s most recent Oil Market Report.

MARKET WATCH: Crude oil futures prices slide in week’s see-saw market

The New York Mercantile Exchange May crude oil contract price was down 20¢ on Apr. 10, closing at $103.40/bbl. The June contract fell 27¢ to $102.38/bbl.

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