More Oil & Gas News

MARKET WATCH: NYMEX crude oil prices slip pending inventory report

Crude oil futures prices slipped modestly on the New York market Aug. 25, and analysts said traders expected a weekly government oil report scheduled for release Aug. 27 to show a gain in supplies at the hub at Cushing, Okla.

EPA extends comment period for proposed refinery regulations

The US Environmental Protection Agency has extended the public comment period by 60 days for its proposed rule that would force petroleum refiners to implement additional controls on toxic air emissions from their refineries.

Shell reshuffles US shale assets in two major deals

Royal Dutch Shell PLC has agreed to two separate transactions in which it will exit its Pinedale and Haynesville onshore gas assets in exchange for $2.1 billion in cash and acreage in the Marcellus and Utica shale regions.

Offshore archaeology

Ships and a World War II-era German U-boat sunk in the Gulf of Mexico continue to make news decades after their discoveries by oil and gas companies conducting seafloor surveys.

CERI: Market access key to Canadian bitumen output

Outcomes in two areas of critical uncertainty can mean a difference in Canadian bitumen production in 2030 of 1.7-1.8 million b/d, according to a study published by the Canadian Energy Research Institute.

MARKET WATCH: Crude oil futures close week modestly lower

Crude oil futures prices closed out the week ended Aug. 22 modestly lower after staging a bit of a recovery midweek (OGJ Online, Aug. 22, 2014).

Earthquake interrupts operations at Chilean refinery

Chile’s Empresa Nacional del Petroleo (Enap) has halted partial operations at its 104,000-b/d Aconcagua refinery at Concon, Chile, following an Aug. 23 earthquake in the Valparaiso region along the country’s Pacific coast, the state-owned company said.

Canada’s NEB to hear Aboriginal viewpoint on Trans Mountain expansion

Canada’s National Energy Board will hear the viewpoint of Aboriginal groups on the Trans Mountain expansion project on Aug. 25 in Edmonton, the first of four scheduled hearings through Nov. 28.

MARKET WATCH: Oil futures prices gain ground after steep fall early in week

Crude oil futures prices continued to gain traction after falling steeply earlier this week.

Tesco appoints new president, chief executive officer

Tesco Corp., Houston, has named Fernando R. Assing, currently executive vice-president and chief operating officer, as the company’s next president and chief executive officer. Assing will succeed Julio M. Quintana, who will retire Jan. 1, 2015.

Agustiawan to step down as Pertamina president director

Karen Agustiawan, president director of PT Pertamina, has officially confirmed her plan to resign, ending her tenure effective Oct. 1.

EIA: Brent crude oil price stability continues

Spot prices of Brent crude oil averaged $107/bbl in July, marking the 13th consecutive month in which the average price has ranged $107-112/bbl. Compared with the volatility seen as recently as 2 years ago when Brent spot prices ranged as high as $125/bbl in March 2012 to as low as $95/bbl in June 2012, this price stability has been remarkable, according to the US Energy information Administration.

Pemex outlines restructuring plans

Petroleos Mexicanos (Pemex) reported it is establishing affiliates to provide drilling, logistics, and electricity services as part of its corporate restructuring in response to Mexico’s sweeping energy reform that ended Pemex’s monopoly on oil and gas activities.

MARKET WATCH: NYMEX oil price jumps on falling US crude oil supplies

The crude oil price rebounded by more than $1/bbl on the New York market Aug. 20 to settle above $96/bbl after a weekly government report showed a larger-than-expected fall in the US crude oil inventory.

Western gulf lease sale attracts $110 million in high bids

Gulf of Mexico western planning area Lease Sale 238 drew 93 bids from 14 companies over 81 blocks covering 433,823 acres, totaling $109,951,644 in apparent high bids, reported the US Bureau of Ocean Energy Management (BOEM), which held the event on Aug. 20 in New Orleans.

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