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Mayer Brown: Brazil reexamines its presalt policies

Brazil’s government is considering proposals to open operatorship of its presalt projects to companies other than state-run Petroleo Brasileiro SA (Petrobras), and this change might be made, Mayer Brown partner Alexandre R. Chequer told the law’s firm’s annual energy conference in Houston on May 15.

FERC issues EA for Cove Point LNG export project

The US Federal Energy Regulatory Commission has issued its environmental assessment (EA) for the Cove Point LNG liquefaction and export project. The project is proposed by Dominion Cove Point LNG LP (DCP).

EPA proposes air emissions requirements for refineries

The US Environmental Protection Agency proposed making refiners measure benzene emissions around their facilities’ fences and make the results publicly available.

GlobalData: High Asia-Pacific LNG prices could soon erode

Although high LNG prices in the Asia-Pacific region are expected to persist in the near term, there are increasing signs they will erode as a result of rising Asia-Pacific LNG production, US exports, and the region’s diversification of energy supplies, according to a forecast from an analyst with research and consulting firm GlobalData.

Bakken crude within rail car safety design standards, AFPM study says

Bakken crude oil is well within the safety standards for current rail car designs, an American Fuel & Petrochemical Manufacturers report concluded. The crude is comparable to other light grades and does not pose risks that are significantly different than other crudes or flammable liquids authorized for rail transport, it added.

MARKET WATCH: Crude oil futures continue gains

Crude oil futures prices settled above $102/bbl May 14 on the New York market on another reported gain in US oil inventories, and analysts attributed the strong crude price to momentum created when US Sec. of Energy Ernest Moniz said he was contemplating whether to overturn a ban on oil exports.

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.

GlobalData: Kenya’s first commercial oil find could generate $10 billion

Kenya’s first commercial oil discovery in South Lokichar basin’s Block 10BB/13T could generate $10 billion in revenue over a 30-year production period based on regional geological characteristics and well test results, according to an analyst with research and consulting firm GlobalData.

MARKET WATCH: NYMEX crude oil prices top $101/bbl as US reconsiders crude exports

Crude oil futures prices climbed by more than $1 to reach a May 13 settlement of more than $101/bbl for the June contract on the New York market after reports that the US government is contemplating lifting a ban on crude oil exports given robust oil production levels.

Infrastructure critical, Deloitte’s US oil and gas chief says

Significant challenges exist to creating the necessary transportation systems for the US to fully realize its significant oil and gas potential, according to John England, who leads Deloitte LLP’s US oil and gas practice.

Water concerns could limit US oil, gas development, speakers say

The oil and gas industry needs to respond more effectively to public concerns about safe water supplies if it expects to realize US unconventional resources’ full potential, speakers at Deloitte LLP’s 2014 Washington Energy Conference warned.

EIA: China promotes AFVs, fuel efficiency to curb rising oil demand

The Chinese government is adopting a broad range of policies, including improvements of fuel efficiency and the promotion of alternative-fuel vehicles (AFVs), to curb the country’s escalating oil demand and oil imports, according to an analysis of the US Energy Information Administration.

Encana improves Montney shale IP rates; may sell more gas assets

Encana Corp. has increased initial production rates by about 75% in its Montney shale drilling program.

Romanian government expected to raise royalties in 2015

Romania’s current royalty rates range between 3.5% and 13% (averaging between 7% and 8%), and this number is likely to increase in 2015.

House panel’s Republicans seek information about DOE’s SPR management

US House Energy and Commerce Committee Republican leaders requested a meeting with US Sec. of Energy Ernest J. Moniz and other appropriate officials concerning management of the US Strategic Petroleum Reserve as the summer driving season approaches.

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