More Oil & Gas News

European refiner squeeze seen in W. African crude changes

European refining is pivotal in “a second wave of structural changes” pummeling West African (WAF) crude oil prices in response to growing production of light oil in North America, notes a report from the Oxford Institute for Energy Studies, London.

WoodMac: Norway’s 10 billion bbl of undeveloped resources could net $106 billion

Norway holds 10 billion boe of discovered but undeveloped natural resources, of which 60% could be commercialized and potentially add $106 billion to the country’s revenues, Wood Mackenzie reported in its latest upstream estimates released Aug. 26 at the Offshore Northern Seas conference in Stavanger.

Verma named managing director at India’s ONGC Videsh

India’s ONGC Videsh Ltd. has named Narendra Verma its managing director. Verma’s previous positions include director of exploration of Maharatna ONGC and director of exploration for ONGC Videsh.

CNRL files OSCA application with AER for Grouse oil sands project

Canadian Natural Resources Ltd. has submitted an Oil Sands Conservation Act application with Alberta Energy Regulator for its Grouse steam-assisted gravity drainage (SAGD) project.

MARKET WATCH: NYMEX prices climb ahead of US oil supply drop

Crude oil prices rose modestly on the New York market Aug. 26 ahead of the weekly government oil inventory report while analysts correctly anticipated a drop in US oil and product supplies although the statistics showed a bigger decline than expected.

ExxonMobil Pipeline settles charges from 2012 Louisiana spill

Exxon Pipeline Co. agreed to pay more than $1.4 million to resolve federal charges that a 2012 spill from the company’s North Line near Torbert, La., violated the Clean Water Act, the US Department of Justice and Environmental Protection Agency jointly announced.

Parsley Energy adds Permian basin acreage

Parsley Energy Inc., Midland, Tex., has agreed to buy from “multiple sellers” undeveloped and productive acreage in Reagan County, Tex., for a total of about $252 million.

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.

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