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Washington state debates cutting tax break for refiners

Washington state lawmakers are reviewing proposed legislation that would do away with a tax exemption currently applicable to refineries operating in the state.

Australian power generator switches from gas to coal

Queensland state-owned power generator Stanwell Corp. has decided to mothball its largest natural gas-fired electric power station in October for as long as 3 years.

Senators ask EIA to study crude exports’ gasoline price effect

US Sens. Maria E. Cantwell (D-Wash.) and Ronald L. Wyden (D-Ore.) asked the US Energy Information Administration for more information on possible domestic gasoline price impacts from allowing more US crude oil to be exported.

Improve federal pipeline permitting process, UTA white paper urges

Federal oil and gas pipeline permitting processes need to be accelerated and improved if they are to keep pace with rapidly expanding production, a new white paper produced for United Transportation Advisors LLC argued.

MARKET WATCH: NYMEX natural gas prices dip on warmer forecasts

Natural gas prices for March delivery were volatile during Feb. 5 trading on the New York market, briefly reaching a 4-year high before closing for the day down by 3.45¢/MMbtu from the Feb. 4 settlement, and analysts attributed the closing decline to forecasts calling for warming temperatures.

Witnesses attack, defend recent BLM policies at House hearing

Policies adopted during the Obama administration have created unnecessary and unproductive obstacles to oil and gas activity on onshore federal lands, witnesses told a US House Natural Resources Committee subcommittee. Other witnesses defended the more prudent approach adopted by the US Bureau of Land Management.

MARKET WATCH: Natural gas, oil futures price climbs on US heating demand

Natural gas prices surged on the New York market on Feb. 4 as parts of the US experienced more winter weather while oil prices climbed awaiting the weekly government oil and product inventory numbers.

VAALCO gets IFC loan for work off Gabon

VAALCO Energy Inc., Houston, has received a $65-million reserve-based loan facility from IFC, part of the World Bank Group, to support further oil and gas development on the Etame Marin Block offshore Gabon.

Keystone XL supporters, opponents press Obama for prompt decision

Supporters and opponents of the proposed Keystone XL crude oil pipeline separately urged US President Barack Obama to decide promptly on whether the project should receive a cross-border permit. Their calls came days after the US Department of State released its final supplemental environmental impact statement on the project.

Total sells block interest offshore Angola for $750 million

Total SA will sell 15% participating interest the offshore Angola Block 15/06 to Sonangol E&P for $750 million.

BPC releases first three commissioned papers on RFS

The Bipartisan Policy Center released the first three of five papers it commissioned on the federal Renewable Fuels Standard. The papers are part of its effort to foster discussions on ways to reform the RFS, which was established by the 2005 Energy Policy Act established and expanded by the 2007 Energy Independence and Security Act, BPC said.

EPA rule requires new reporting from refiners, chemical processors

The US Environmental Protection Agency has finalized a rule under existing federal statutory law that establishes new reporting requirements for petroleum and petrochemical processors that use or plan to use five chemical substances identified generically as “complex strontium aluminate, rare earth doped” (CSA-RED).

Anadarko reports fourth-quarter loss, record yearend sales volumes

Anadarko Petroleum Corp. reported a fourth-quarter net loss of $770 million, decreasing net income by $1.145 billion.

MARKET WATCH: Crude oil prices fall on economic indicators, Libyan news

Crude oil prices dropped on New York and London markets in Feb. 3 trading, and analysts said traders focused on weaker-than-expected US and Chinese economic indicators along with the possibility of Libya boosting its oil exports toward more normal levels.

Why Congress still matters

Oil and gas industry leaders generally don't expect the US Congress to do much about energy in 2014. But they haven't necessarily written federal lawmakers off.

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