More Oil & Gas News

MARKET WATCH: NYMEX crude oil futures drop modestly awaiting inventory

Crude oil futures fell modestly on the New York market July 22 as traders and analysts awaited a weekly US government report on petroleum inventories and as participants across international oil markets awaited developments in the Russia-Ukraine conflict.

CERI: Costs up for oil sands production

The costs of producing bitumen and synthetic crude in the Albertan oil sands have increased over the past year, says the Canadian Energy Research Institute in an annual report that projects steady growth in output.

Chevron accepts amended plan for Richmond refinery revamp

Chevron Corp. has agreed to accept an alternative, more environmentally friendly plan proposed by city officials for the long-delayed $1 billion modernization of its 257,000-b/d Richmond, Calif., refinery.

DOE wants to mobilize subsurface engineering R&D efforts

The US Department of Energy wants to mobilize federal government, oil and gas industry, university, and other research to address subsurface engineering challenges, particularly controlling fracture propagation and fluid flow, officials said at the first of several projected discussions.

Tallgrass secures right to acquire Pony Express interest for $600 million

Tallgrass Energy Partners LP (TEP) has been offered the right to purchase 33.3% interest in Tallgrass Pony Express Pipeline LLC by Tallgrass Development LP for $600 million.

MARKET WATCH: Oil futures climb on concerns about Russia, Ukraine conflict

Crude oil futures prices climbed on the New York and London markets July 21 upon the likelihood that the European Union might impose tighter sanctions against Russian businesses in response to suspicions that pro-Russia separatists contributed to the crash of a Malaysia Airlines passenger jet.

MARKET WATCH: Oil prices off slightly at week’s end, but still elevated on Russia-Ukraine conflict

Crude oil futures prices declined slightly in trading July 18 but remained elevated for the week on news of continued conflict between Russia and Ukraine.

Allan Gray fails to block Roc merger with Horizon

Fund manager Allan Gray, the largest shareholder in Sydney-based Roc Oil Ltd., has failed in its challenge to the company's proposed $800 million (Aus.) merger with Horizon Oil Ltd., also of Sydney.

BOEM issues ROD for environmental review of G&G survey off Atlantic Coast

The US Bureau of Ocean Energy Management (BOEM) issued a record of decision (ROD) for environmental review of geological and geophysical (G&G) survey activities offshore the Atlantic Coast.

MARKET WATCH: Crude oil futures prices jump again

Crude oil futures prices jumped again July 17—the second dollar-plus gain in as many days.

Cheniere, EDF sign Corpus Christi LNG supply deal

Corpus Christi Liquefaction LLC (CCL), a subsidiary of Cheniere Energy Inc., Houston, has agreed to supply Electricite de France SA (EDF) with 380,000 tonnes/year of LNG on the start of operations of Train 2 of the LNG export facility under development near Corpus Christi, Tex.

SAFE: Report’s ‘flash points’ emphasize US transportation fuel problem

A proliferation of global oil geopolitical “flash points” makes it even more urgent for the US to aggressively reduce its dependence on crude oil for transportation fuels, according to speakers discussing a report issued by Securing America’s Future Energy (SAFE).

BLM director: Fee system needed for increased onshore well inspections

A shortage of inspectors, reduced budgets, and a record number of wells on public lands make the US Bureau of Land Management’s budget request for a fee system to increase its oil and gas inspection capacity necessary, BLM Director Neil Kornze said.

API: US petroleum demand up in June, second quarter

Total US petroleum deliveries, a measure of demand, rose 1.5% in June vs. a year ago to average just above 19 million b/d, according to the American Petroleum Institute’s most recent Monthly Statistics Report. For the second quarter, petroleum demand increased 1.5% compared with the same period last year.

Obama’s latest sanctions against Russia include oil, gas firms

In response to continued unrest in Ukraine, US President Barack Obama has announced new sanctions against Russia that include—for the first time—operations of Russian state-owned energy firms.

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