More Oil & Gas News

SAFE: Report’s ‘flash points’ emphasize US transportation fuel problem

A proliferation of global oil geopolitical “flash points” makes it even more urgent for the US to aggressively reduce its dependence on crude oil for transportation fuels, according to speakers discussing a report issued by Securing America’s Future Energy (SAFE).

BLM director: Fee system needed for increased onshore well inspections

A shortage of inspectors, reduced budgets, and a record number of wells on public lands make the US Bureau of Land Management’s budget request for a fee system to increase its oil and gas inspection capacity necessary, BLM Director Neil Kornze said.

API: US petroleum demand up in June, second quarter

Total US petroleum deliveries, a measure of demand, rose 1.5% in June vs. a year ago to average just above 19 million b/d, according to the American Petroleum Institute’s most recent Monthly Statistics Report. For the second quarter, petroleum demand increased 1.5% compared with the same period last year.

Obama’s latest sanctions against Russia include oil, gas firms

In response to continued unrest in Ukraine, US President Barack Obama has announced new sanctions against Russia that include—for the first time—operations of Russian state-owned energy firms.

Australia repeals carbon tax legislation

Australia’s Parliament has repealed the carbon tax legislation that this year imposed $24.15 (Aus.)/tonne of carbon dioxide emissions.

MARKET WATCH: NYMEX oil futures rebound on big US inventory draw

Crude oil futures prices rebounded on the New York market on July 16 after a weekly government inventory report showed a bigger drop in US oil supplies than analysts had expected.

Petrotrin blames US shale gas revolution for reduced refinery runs

Trinidad and Tobago’s state-owned Petrotrin is blaming the shale gas revolution in the US and lower crude prices at Cushing, Okla., for its decision to significantly reduce its refinery throughput to 120,000 bo/d from 180,000 bo/d.

India pondering natural gas safety board

India may create a natural gas safety board in the wake of the June 27 pipeline explosion that killed 19.

India making ‘significant efforts’ to diversify crude oil imports

Indian companies have made “significant efforts” to diversify their crude oil supply sources, according to India’s Press Information Bureau.

US should be ready if Petro Caribe tightens credit terms, study says

The possibility that Venezuela’s financial support for energy imports in the region could erode quickly makes it imperative for the Obama administration to adopt a wide range of policies to avoid an energy crisis in the Caribbean and Central America, a recent Atlantic Council report said.

MARKET WATCH: NYMEX crude oil drops below $100/bbl on higher Libyan production

Crude oil prices dropped nearly $1/bbl on both the New York and London markets in July 15 trading with oil settling on the New York market at under $100/bbl on reports that Libya’s oil production was growing faster than expected.

Swift, Saka complete Eagle Ford development deal

Swift Energy Co., Houston, completed its agreement with PT Saka Energi Indonesia to fully develop 8,300 acres of Fasken properties in the Eagle Ford in Webb County, Tex.

US refiners pursue more overseas product sales, EIA forum told

US refiners continue to respond to a changed competitive environment with additional investments and aggressive oil product export deals, speakers said during the US Energy Information Administration’s 2014 energy conference’s opening day.

North Dakota flaring reduction policy may impact January production

North Dakota production continued to climb in May but new requirements in the state’s flaring reduction plan slowed permitting activity in June and may lead to production curtailments for some operators early next year.

EIA conference speakers warn of US light crude oil’s ‘day of reckoning’

The US could find its light crude oil production growth stymied if it doesn’t allow more of it to be exported, speakers warned during the US Energy Information Administration’s 2014 energy conference’s first day.

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