More Oil & Gas News

Latest EIA report lists mixed impacts from higher US LNG exports

Increased US LNG exports would raise natural gas prices and increase production, reduce end-users' demand, push higher total primary energy use and related carbon dioxide emissions, and modestly increase consumer expenditures for gas and the electricity it generates, according to a recent report from the US Energy Information Administration.

Kurdistan oil exports ramping up, says ministry

The Kurdistan Regional Government (KRG) plans to increase oil exports through the Kurdistan crude oil pipeline to Turkey to 400,000 b/d by yearend and 500,000 b/d by the end of first-quarter 2015, reports the Iraqi region’s Ministry of Natural Resources (MNR).

EIA: Gas storage levels now within 7% of 5-year average

Working natural gas in storage ended October at 3,571 bcf, a record increase of 2,734 bcf during the Apr. 1-Oct. 31 injection season, and within 7% of the average of the last five end-of-season storage levels, according to data from the US Energy Information Administration.

MARKET WATCH: Oil futures hover below $78/bbl; natural gas jumps on colder weather

The New York Mercantile Exchange December crude oil contract declined 77¢ on Nov. 6, closing at $77.91/bbl. The January 2015 contract declined 73¢ to $77.87/bbl.

IPAA: Federal agency’s ESA prelisting proposal lacks assurances

A US Forest Service proposal on voluntary actions to manage species before they are listed under the federal Endangered Species Act falls significantly short, the Independent Petroleum Association of America said.

Better transportation seen as key to North American energy promise

Significant transportation improvements will be essential for North America to fully realize its dramatically brighter oil and gas future, speakers agreed during a Nov. 6 discussion at the Woodrow Wilson International Center for Scholars.

Obama determined to let Keystone XL review process ‘play out’

US President Barack Obama reiterated his stance on Nov. 5 that the proposed Keystone XL crude oil pipeline’s ongoing cross-border permit review process should be allowed to proceed amid suggestions that Republicans winning majority control of the Senate in elections a day earlier opens the way for congressional legislation on the matter to reach his desk.

UK announces 134 awards in 28th offshore licensing round

The UK’s 28th offshore licensing round has resulted in the issuance of 134 licenses covering 252 blocks. The announcement was made by the UK Department of Energy and Climate Change.

Fire hits PDVSA’s Curacao refinery

Petroleos de Venezuela SA's 335,000-b/d Isla refinery on the island of Curacao continues to operate normally following a Nov. 5 fire that struck one of the plant’s gas processing units.

PAA to buy BridgeTex interest from Oxy in $1.075 billion deal

Plains All American Pipeline LP (PAA) and Plains GP Holdings LP have signed an agreement with Occidental Petroleum Corp. to purchase Oxy’s 50% interest in BridgeTex Pipeline Co. LLC for $1.075 billion.

MARKET WATCH: NYMEX crude oil prices bounced back up briefly

Crude oil futures prices rebounded by more than $1/bbl on New York market Nov. 5, pulling back above $78/bbl for contracts for both December and January 2015 deliveries while the Brent contract for December delivery gained modestly although it still hovered below $83/bbl.

Results show energy won big in 2014’s elections, Gerard says

Energy was the big winner in the 2014 elections, American Petroleum Institute Pres. Jack N. Gerard said the day after polls closed and ballots were counted. “In race after race, voters from all regions of our nation and from both political parties voted for pro-development, true all-of-the-above energy policies,” he said.

Land issues loom in Mexican energy reform

Land controversies threaten to impede Mexico’s opening of oil and gas projects to international investment, warns an issue brief from the Baker Institute for Public Policy at Rice University, Houston.

AWE completes sale of BassGas assets

AWE has completed the sale of a portion of its interests in the offshore Tasmanian offshore Bass Basin gas-condensate permits T/L1 and T/18P that contain the Yolla and Trefoil fields.

ONGC Videsh names Rao as director of operations

ONGC Videsh Ltd. has named Pasala Krishna Rao as director of operations. He succeeds Shyamal Bhattarcharya, who has retired.

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