More Oil & Gas News

MARKET WATCH: NYMEX crude oil prices hover slightly above $90/bbl range

Crude oil prices settled on the New York market Oct. 6 slightly above $90/bbl, and analysts said they expect prices will remain subdued pending this week’s US government reports on crude oil inventories and on other upcoming oil-demand forecasts.

US refiners could process more light tight crudes, study finds

US refiners will have the capacity by 2020 to process 3.1-4.3 million b/d more of light, tight crude oil (LTC) than in fourth-quarter 2013, according to a Baker & O’Brien Inc. study commissioned by Consumers & Refiners United for Domestic Energy (CRUDE).

Petrotrin to start up long-delayed ULSD plant early next year

Trinidad and Tobago's state-owned Petrotrin LLC has said its ultralow-sulfur diesel (ULSD) plant will begin production in second-quarter 2015.

KKR, FDL to acquire Permian properties

A partnership of KKR Natural Resources (KKR) and Fleur de Lis Energy (FDL), Dallas, has agreed to acquire certain oil and gas properties in Ector and Midland Counties in West Texas’s Permian basin from Linn Energy LLC for $350 million. The deal is expected to close in the fourth quarter.

Eni: World oil, gas reserves continue to rise

Italy’s Eni SPA has published its thirteenth edition of the World Oil & Gas Review, the annual statistics review of world oil and gas production, reserves, and consumption, with a particular focus on refining industry and crude quality.

MARKET WATCH: Crude oil futures end week below $90/bbl

The New York Mercantile Exchange November crude oil contract fell $1.27 on Oct. 3, closing at $89.74/bbl, while the December contract dripped $1.21 to $88.67/bbl.

Natural Resource Partners to expand Williston assets

Natural Resource Partners LP (NRP), Houston, has agreed to acquire nonoperated working interests in oil and gas properties in the Williston basin’s Bakken-Three Forks play from an affiliate of Kaiser-Francis Oil Co. for $340 million. The deal, effective Oct. 1, is expected to close in November.

Chevron Canada to sell 30% in Duvernay shale to Kufpec Canada for $1.5 billion

Chevron Corp. said its Chevron Canada Ltd. unit plans to sell a 30% interest in its Duvernay shale play to Kuwait Foreign Petroleum Exploration Co.’s Kufpec Canada Inc. unit for $1.5 billion. Chevron will retain 70% and remain operator.

Planned LNG plants must consider potential permit modifications

Although the US Department of Energy (DOE) has so far not modified an LNG import or export permit after issuing it, it is not explicitly prohibited from doing so and the risk of future modification of DOE permits must be carefully analyzed and addressed in contract documents regarding LNG plants and terminals.

Regulations: lead or pay

The US Government Accountability Office Sept. 22 called on the Department of Transportation to consider making new oil and gas transportation rules as production outpaces both pipeline construction and regulations.

OGJ Newsletter

International news for oil and gas professionals

Denationalizing EPA

Concerning the editorial in the Sept. 8, 2014: Few questioned the importance of clean air and clean water when the Environmental Protection Agency was established.

Hydraulic fracturing battle has moved to several local ballot boxes

Opponents of hydraulic fracturing, horizontal drilling, and other unconventional oil and gas development technologies have changed their focus to local governments.

New SEG chief eyes mainstream role for full-waveform inversion

When asked about important geophysical trends, the new president of the Society of Exploration Geophysicists points to a seismic processing method called full-waveform inversion (FWI).

Tight oil prompts new plan for atmospheric distillation heater

Distillation unit atmospheric heaters serve a vital role in crude oil processing. Any issues directly related to reduced capacity of a heater, such as elevated tube-skin temperatures (TSTs) and coking rates, require immediate attention.

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