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Bear Head LNG requests DOE permits to export US natural gas

Liquefied Natural Gas Ltd.’s wholly owned subsidiaries, Bear Head LNG Corp. and Bear Head LNG LLC (USA), have filed an application with the US Department of Energy requesting authorization to export as much as 440 bcf/year of US natural gas to Canada and 8 million tonnes/year of LNG from Canada to free-trade agreement and non-FTA nations.

EIA forecasts continued rise in US oil production from gulf

Crude oil production from the Gulf of Mexico will reach 1.52 million b/d in 2015 and 1.61 million b/d in 2016—or respectively 16% and 17% of total US crude production during each year—according to projections from the US Energy Information Administration.

Pennsylvania governor proposes natural gas severance tax

Pennsylvania Gov. Tom Wolf proposed a $29.9 billion budget on Mar. 3 that includes $2.5 billion of net tax increases for fiscal 2016, including a 5% severance tax on natural gas.

Shell moves to business-as-usual plan for strike-impacted refineries

As the United Steelworkers union (USW) strike enters its fifth week, Royal Dutch Shell PLC, which serves as lead company for National Oil Bargaining (NOB) negotiations, is implementing a plan to return its strike-impacted sites to normal, full-rotation operations without the use of union workers.

BOEM proposes lease sale for western Gulf of Mexico

The US Bureau of Ocean Energy Management (BOEM) will offer more than 21 million acres offshore Texas for oil and gas exploration and development, including all available unleased areas in the western Gulf of Mexico planning area, in Lease Sale 246, scheduled for August in New Orleans.

Shell Canada withdraws application for Pierre River heavy oil project

Shell Canada Ltd. has withdrawn its regulatory application for the proposed Pierre River heavy oil mine north of Fort McMurray.

Anadarko cuts spending, stalls well completions

Anadarko Petroleum Corp. on Mar. 3 said it will cut spending 33% during 2015 compared with 2014 and will reduce drilling and defer 125 onshore well completions in response to low oil prices.

Petrobras to divest $13.7 billion in 2015-16

Petroleo Brasileiro SA (Petrobras) plans to divest $13.7 billion in 2015-16, up from the previously reported $5-11 billion in the company’s business and management plan for 2014-18.

Report notes strong Saudi fiscal ‘buffers’

Saudi Arabia has fiscal buffers enabling it to cover projected deficits while oil prices are low for at least 4 years and perhaps more than 8 years, according to an analyst at Arab Petroleum Investments Corp., Dammam.

MARKET WATCH: NYMEX crude oil prices holding under $50/bbl

The contract for US light, sweet crude oil for April delivery declined modestly on the New York market Mar. 2 holding under $50/bbl while Brent crude oil prices on the London market fell by more than $3 to close at under $60/bbl.

Update of earlier NAM study still finds EPA ozone proposal costly

The US Environmental Protection Agency’s proposed 65 ppb ozone standard could reduce US gross domestic product by $140 billion/year and create $1.1 trillion in compliance expenses from 2017 to 2040, National Economic Research Associates said in an update of a July 2014 study commissioned by the National Association of Manufacturers.

GOM REVENUE SHARING-1 Lease sales drive gulf OCS revenues

The Gulf of Mexico (GOM) Energy Security Act of 2006 (GOMESA) provides for sharing offshore lease revenues in the GOM Outer Continental Shelf (OCS).

Pennsylvania governor asks Obama for stronger crude-by-rail rules

Noting that 60-70 trains/week carry Bakken crude oil across Pennsylvania to the Philadelphia area or other East Coast refineries, Gov. Tom Wolf (D) asked US President Barack Obama for stronger federal regulations to prevent derailments and improve safety.

LetterOne completes purchase of RWE Dea for €5.1 billion

Russian investment firm LetterOne Group and Germany’s RWE AG have completed LetterOne’s acquisition of RWE Dea for an enterprise value of €5.1 billion, slightly higher than the agreed upon amount when the sale was reported in January.

Total to take operatorship of Elk-Antelope field

Total SA has been unanimously voted operator of the joint venture operating Elk-Antelope gas field in petroleum retention license 15 in the eastern highlands of Papua New Guinea.

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Texas A&M University at Qatar (TAMUQ) (http://www.qatar.tamu.edu/) invites applications for the position of Chair of the Petroleum Engineering Program at the rank of associate or full professor, with an anticipated starting date of July 1, 2015. Texas A&M at Qatar is a partnership with Qatar Foundation, and it is based in a state-of-the-art, 595,000 square foot building that was completed in 2007.

Chair of the Petroleum Engineering Program

Texas A&M University at Qatar (TAMUQ) (http://www.qatar.tamu.edu/) invites applications for the position of Chair of the Petroleum Engineering ...
Novus International, Inc., a $1B+ privately held company, is a global leader in developing animal health and nutrition solutions. The Novus corporate mission is to help feed the world affordable, wholesome food by supplying superior goods and services to the leading commercial food producers worldwide. The company owns the world's largest methionine plant located at Chocolate Bayou, Texas and is in the early stages of building another plant at a site on the gulf coast of Texas or Louisiana.

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Novus International, Inc., a $1B+ privately held company, is a global leader in developing animal health and nutrition solutions. The Novus corpora...
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