More Oil & Gas News

Forum: Exploration opportunities outnumber available people, capital

Oil and gas companies today face more emerging exploration opportunities than they have available capital or people, Susan Cunningham, senior vice-president of Noble Energy Inc., told an oil field breakfast forum hosted by consulting firm Decision Strategies.

Flint Hills to acquire PetroLogistics in $1.2 billion deal

Flint Hills Resources LLC, a subsidiary of Koch Industries Inc., has entered into a definitive agreement to acquire PetroLogistics and its general partner PetroLogistics GP LLC for $1.2 billion.

Petrovietnam seeks to protect disputed waters ‘by peaceful means’

Do Van Hau, president and chief executive officer of Petrovietnam, said at a May 23 press conference that China has not provided a legal basis to justify the view of “disputed waters.”

SEC to begin work on fresh Dodd-Frank foreign disclosure rules

The US Securities and Exchange Commission is preparing to develop revised requirements for publicly trade US oil, gas, and mining firms to disclose payments to foreign governments.

EIA: US’s crude imports from Mexico lowest since 1993

In 2013, Mexico was the third-largest source of crude oil imports to the US, averaging 850,000 b/d, behind Canada and Saudi Arabia, according to the US Energy Information Administration. However, the volumes were the lowest since 1993, reflecting declining production of crude oil in Mexico.

MARKET WATCH: NYMEX crude futures price holds above $104/bbl

Crude oil futures prices declined modestly on the New York market during May 27 trading but still settled above $104/bbl while analysts awaited the US inventory report and continued to monitor news events in Libya and Ukraine.

Russia to remain Europe’s primary gas supplier, UK research fellows say

Russia is likely to remain Europe’s primary natural gas supplier because Gazprom, its state-owned integrated gas company, has already begun to adjust operations and strategies in response to changing markets, two Oxford University Institute for Energy Studies research fellows said.

EIA: Mexico’s energy reform will address many challenges

As Mexico prepares to lift its 1938 ban on private sector energy investment, many of the challenges that have resulted in a decade-long decline in Mexico’s oil production are promised to be addressed, according to the US Energy Information Administration.

Environmental review issued for California refinery revamp

California’s Kern County Planning & Community Development Department (KCPCDD) has issued a draft environmental impact report (EIR) for Alon USA Energy Inc.’s request to increase the flexibility of its existing 70,000-b/d Bakersfield, Calif., refinery to process cost-advantaged light crude oils sourced from North American shale regions.

MARKET WATCH: NYMEX crude prices rose before Memorial Day holiday

Crude oil futures prices rose on the New York market during May 23 trading in advance of the US Memorial Day holiday. US markets were closed May 26 for the holiday, and the government’s weekly inventory reports for oil and gas storage will be delayed one day from normal this week.

BOEM plans to prepare SEIS to comply with Chukchi Sea court order

The US Bureau of Ocean Energy Management intends to develop a supplemental environmental impact statement (SEIS) to help resolve production estimate deficiencies a federal court found in its predecessor agency’s original Chukchi Sea crude oil development plan, the US Department of Justice said in its first bimonthly report required under an order remanding the matter to a lower court.

The Indian landslide

When voting began in Indian parliamentary elections Apr. 7, Narendra Modi, chief minister of Gujarat, was expected to lead his Hindu-nationalist Bharatiya Janata Party to victory.

BLM releases EA for Noble Energy’s eastern Nevada gas project

The US Bureau of Land Management released an environmental assessment for Noble Energy Inc.’s proposed Huntington Valley natural gas project 7 miles from Jiggs, Nev., an unincorporated community 30 miles south of Elko. Comments will be accepted on it through June 4, BLM said.

Cautious economic optimism

Global economic activity has broadly strengthened since the second half of 2013. Recovery continues, but remains uneven. Cautious economic optimism among oil and gas companies is reshaping the business landscape.

Oil and gas midstream ripe for investment, Deloitte specialists say

Surging US production has made oil and gas midstream operations attractive investment prospects, three Deloitte specialists said during the final day of the financial services company's 2014 Washington Energy Conference.

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