More Oil & Gas News

BLM seeks comments on proposed carbon dioxide wells in Colorado

The US Bureau of Land Management’s Royal Gorge Field Office has begun a public scoping period for two proposed carbon dioxide wells near Gardner, Colo. Oxy USA, which operates the existing Sheep Mountain CO2 production unit, proposed the wells, the US Department of the Interior agency said on July 10. Comments will be accepted through July 25.

BG Group completes sale of CATS pipeline interest

BG Group has completed the sale of its 62.78% equity interest in the Central Area Transmission System (CATS) gas pipeline in the UK North Sea along with associated infrastructure to Antin Infrastructure Partners, Paris.

Leadership named for Oxy California independent spinoff

Occidental Petroleum Corp. has appointed Todd A. Stevens as president and chief executive officer and William E. Albrecht as executive chairman of its independent spinoff California Resources Corp. (CRC).

US House Refining Caucus formed

US Rep. Pete Olson (R-Tex.) announced the formation of the House Refining Caucus with 21 Republicans and 5 Democrats as members. The group’s goal is to educate House members about issues refiners face and related impacts on consumers, he said on July 9. US Rep. Cedric Richmond (D-La.) is co-chairman.

Middle class key to MENA energy subsidy reforms, speakers say

Countries in the Middle East and North Africa (MENA) are talking more openly about energy subsidy reforms, but governments need to pay closer attention to middle-class consumers’ concerns if they expect to make more progress, speakers said during a July 10 forum at the Atlantic Council.

Arawak Energy to acquire Lundin’s Komi region assets

Arawak Energy Russia BV has agreed to acquire all interests in the Sotchemyu-Talyu and North Irael fields in Russia’s Komi region from Lundin Petroleum AB.

MARKET WATCH: Crude oil futures drop with rising Libyan production

Crude oil prices fell by more than $1/bbl on the New York market July 9 on reports that Libya’s largest oil field had resumed production following the lifting of a force majeure on two ports, Ras Lanuf and Es Sider, which together account for about half of Libya’s oil exports.

API releases unconventional production community engagement standard

The American Petroleum Institute issued a new standard specifically aimed at effectively engaging with US communities affected by exploration and development of unconventional oil and gas resources. ANSI-API Bulletin 100-3 emerged following 3 years of meetings and discussions with producers, community leaders, state regulators, property owners and other stakeholders, API Standards Director David Miller said.

Phillips 66 boosts capital expenditures for 2014

The board of Phillips 66 has approved a $1.2-billion increase for the company’s capital expenditures this year to $3.9 billion to support the company’s growth strategy.

Lukoil Overseas makes management appointments

Lukoil Overseas has made several management appointments.

 

KKR, Riverstone to form Barnett-focused Trinity River Energy

Kohlberg Kravis Roberts & Co. LP (KKR) and Riverstone Holdings LLC have signed a definitive agreement to combine the existing assets held by KKR Natural Resources Funds with the assets of Legend Production Holdings LLC, a Riverstone company, to create a Fort Worth-based oil and gas company named Trinity River Energy LLC.

Suncor, GE aim to reduce GHG emissions, water usage in oil sands

Suncor Energy Inc., Calgary, and GE have signed two agreements that aim to reduce greenhouse gas (GHG) emissions and water usage in the oil sands.

MARKET WATCH: Oil prices continue down on London, New York markets

Crude oil prices on the New York market dropped modestly on July 8, settling down for the seventh consecutive session while oil prices on the London market dropped by more than $1/bbl, marking Brent’s sixth consecutive trading session that ended with a decline.

EIA: Low-permeability formations driving Permian oil production surge

Crude oil production in the Permian basin has increased to 1.35 million b/d in 2013 from 850,000 b/d in 2007. Since March 2013, the Permian basin has become the largest crude oil producing region in the US, with production exceeding that from the federal offshore Gulf of Mexico region. In 2013, the Permian basin’s production accounted for 18% of total US crude oil production, said the US Energy Information Administration.

EIA expects higher gasoline prices for driving season, full year

During the April-September summer driving season this year in the US, regular gasoline retail prices will average $3.66/gal, 8¢/gal higher than last year and 4¢ higher than projected last month, according to a forecast from the US Energy Information Administration in its July Short-Term Energy Outlook (STEO).

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