More Oil & Gas News

Breitburn, QR Energy to merge into upstream MLP

Breitburn Energy Partners LP, Los Angeles, and Houston-based QR Energy LP have signed a definitive merger agreement where Breitburn will purchase QR Energy in an all-stock transaction valued at $3 billion by the companies.

API survey finds gap between voters, federal officials on development

A substantial gap exists between registered voters’ support for more US oil and gas development on federal lands, and what they think federal officials actually are doing about it, according to a recent survey commissioned by the American Petroleum Institute.

EIA: Weekly US refinery inputs set new record in July

Refinery inputs reached a record-high of 16.8 million b/d in each of the past 2 weeks, exceeding the previous record from summer 2005, according to the US Energy Information Administration. Inputs at refineries in the Midwest and Gulf Coast have been particularly high, reflecting these refineries’ access to lower-cost crude oil, expansions of refining capacity, and increases in both US demand and exports.

MARKET WATCH: Crude oil prices climb slightly on New York, London markets

Crude oil futures rose slightly on both New York and London markets July 23, and one analyst called Brent oil prices “subdued” while market participants await emerging geopolitical developments in the Russia-Ukraine conflict and also anticipate increasing oil supply from Libya.

DOT proposes new rules for transporting crude oil by rail

A train with 20 or more tank cars carrying crude oil, ethanol, or other flammable liquids would be classified as a high-hazardous flammable train (HHFT), and would be subject to lower speed limits, routing risk assessments, and other new requirements under new US Department of Transportation regulatory proposals.

Center for LNG urges DOE to scrap proposed export review changes

The US Department of Energy’s proposal to only issue national interest determinations to LNG export projects that have completed a National Environmental Policy Act review should be withdrawn, the Center for Liquefied Natural Gas said.

Diamondback to expand Midland basin acreage

Diamondback Energy Inc., Midland, Tex., has entered into a definitive purchase agreement with unrelated third party sellers to acquire 16,773 gross (13,136 net) acres in Midland, Glasscock, Reagan, and Upton counties in Texas for $538 million.

Oil & Gas UK welcomes consultation on uHPHT allowance

Oil & Gas UK said it welcomes the opening of a formal consultation by HM Treasury on a new cluster area allowance to support investment in ultrahigh-pressure, ultrahigh-temperature (uHPHT) oil and gas fields on the UK Continental Shelf (UKCS).

MARKET WATCH: NYMEX crude oil futures drop modestly awaiting inventory

Crude oil futures fell modestly on the New York market July 22 as traders and analysts awaited a weekly US government report on petroleum inventories and as participants across international oil markets awaited developments in the Russia-Ukraine conflict.

CERI: Costs up for oil sands production

The costs of producing bitumen and synthetic crude in the Albertan oil sands have increased over the past year, says the Canadian Energy Research Institute in an annual report that projects steady growth in output.

Chevron accepts amended plan for Richmond refinery revamp

Chevron Corp. has agreed to accept an alternative, more environmentally friendly plan proposed by city officials for the long-delayed $1 billion modernization of its 257,000-b/d Richmond, Calif., refinery.

DOE wants to mobilize subsurface engineering R&D efforts

The US Department of Energy wants to mobilize federal government, oil and gas industry, university, and other research to address subsurface engineering challenges, particularly controlling fracture propagation and fluid flow, officials said at the first of several projected discussions.

Tallgrass secures right to acquire Pony Express interest for $600 million

Tallgrass Energy Partners LP (TEP) has been offered the right to purchase 33.3% interest in Tallgrass Pony Express Pipeline LLC by Tallgrass Development LP for $600 million.

MARKET WATCH: Oil futures climb on concerns about Russia, Ukraine conflict

Crude oil futures prices climbed on the New York and London markets July 21 upon the likelihood that the European Union might impose tighter sanctions against Russian businesses in response to suspicions that pro-Russia separatists contributed to the crash of a Malaysia Airlines passenger jet.

MARKET WATCH: Oil prices off slightly at week’s end, but still elevated on Russia-Ukraine conflict

Crude oil futures prices declined slightly in trading July 18 but remained elevated for the week on news of continued conflict between Russia and Ukraine.

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