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MARKET WATCH: NYMEX crude oil prices fall below $78/bbl

Crude oil futures prices continued falling on New York and London markets Nov. 4 with US benchmark light, sweet crude contracts dropping below $78/bbl for delivery in December and January 2015 while the Brent contract for December delivery dropped below $83/bbl.

PNR, Reliance seek divestment of Eagle Ford midstream business

Pioneer Natural Resources Co. (PNR), Dallas, and Reliance Holding USA Inc. are pursuing the divestment of their Eagle Ford shale (EFS) Midstream business. PNR operates the business with 50.1% interest, and Reliance holds the remaining 49.9%.

Gas price uncertainty could defer projects, Niko says

Niko Resources Ltd., Calgary, says uncertainty regarding natural gas price premiums in India could cause deferral of development of certain discoveries.

GCA: Falling oil price to have uneven effect on US unconventional plays

Falling oil prices will have an uneven effect across US unconventional plays based on the qualities of reservoirs within any given play, Gaffney Cline & Associates (GCA) said in a recent report, noting there exists a complex relationship between the pace of shale production and falling futures prices for light, sweet crude oil.

Touchstone signs onshore license deal with Trinidad and Tobago

Touchstone Exploration Inc., Calgary, signed an onshore exploration and production license with Trinidad and Tobago’s Ministry of Energy and Energy Affairs.

Canadian firms' 3Q results highlight oil sands, heavy oil production rise

Third-quarter financial and operating results included updates on several oil sands projects in Alberta.

MARKET WATCH: NYMEX crude oil prices dip below $80/bbl

Crude oil prices fell by more than $1/bbl on both the New York and London futures markets Nov 3, prompting analysts to note that the US light, sweet crude oil price settled below $80/bbl for the first time in more than 2 years.

EPA greenlights Texas GHG permitting program

The US Environmental Protection Agency has approved the Texas Commission on Environmental Quality’s (TCEQ) program to issue greenhouse gas permits for new and modified facilities.

DOE to host gas infrastructure, methane emissions workshop

The US Department of Energy will hold a natural gas infrastructure and methane emissions workshop Nov. 12-13 in Pittsburgh as part of a broader examination of gas transmission systems from the wellhead to the end-user that it announced in late July.

WoodMac: High WCS-WTI price spread seen lingering

Growing production of Canadian heavy crude oil and problems delivering the new supply to distant markets will keep the discount of Western Canadian Select crude high against the West Texas Intermediate price, according to Wood Mackenzie.

EIA: Brent dominates US gasoline price movements, not WTI

A recent study from the US Energy Information Administration would appear to weaken the argument that lifting the ban on US crude oil exports would raise domestic gasoline prices.

MARKET WATCH: Crude oil futures close out October lower

The New York Mercantile Exchange December crude oil contract fell 58¢ on Oct. 31, closing at $80.54/bbl. The January 2015 contract fell 48¢ to $80.42/bbl.

A Republican priority

The possibility that elections this month will give Republicans control of both houses of Congress raises hope for an overdue taming of the US Environmental Protection Agency.

Europe hikes stakes in costly quest for climate leadership

"No player in the world is as ambitious as the [European Union]," declared European Commission Pres. Jose Manuel Barroso after the EU extended and toughened its targets for greenhouse-gas emissions. Are non-EU "players" supposed feel chastened by that?

Study finds simulation flaws in multiphase environment

Olga software can be used to simulate multiphase pipeline flow at a wide range of rates without the need to match results to field data.

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