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US House panel grills PHMSA’s interim chief over pipeline safety delays

Members of a US House Energy and Commerce subcommittee asked US Pipeline and Hazardous Materials Safety Administration Interim Executive Director Stacy Cummings why several significant provisions of a federal pipeline safety law passed in 2011 have yet to be implemented (OGJ Online, Sept. 21, 2011).

Market seen balancing with OPEC at target

Target-level production of crude oil by members of the Organization of Petroleum Exporting Countries would balance the oil market in 2016, according to three key monitoring agencies.

MARKET WATCH: Crude oil futures prices settle lower on Iran uncertainty

Crude oil futures prices alternated between gains and losses in July 13 trading before settling lower on both the New York and London markets on uncertainty about the outcome of Iran’s talks with international powers regarding Iran’s nuclear program.

PHMSA issues state pipeline excavation damage prevention programs rule

The US Pipeline and Hazardous Materials Safety Administration issued a final rule to establish the process for evaluating state excavation damage prevention programs and enforcing federal standards in states where such requirements are inadequate or do not exist.

Halliburton, Baker Hughes agree to extend DOJ review of planned merger

Halliburton Co. and Baker Hughes Inc. reached a timing agreement with the US Department of Justice’s Antitrust Division to extend DOJ’s review of Halliburton’s proposed acquisition of Baker Hughes.

EIA’s estimates for state crude oil production to be helped by direct survey

Understanding how crude oil production in US key states has been affected by recent changes in crude oil prices and drilling activity is of great importance. Unfortunately, state-level production data published by the US Energy Information Administration and state agencies can differ, as EIA’s estimates anticipate and account for expected revisions to data collected by the states.

Russia’s Rosneft inks deal for stake in Indian refinery

OAO Rosneft has entered a preliminary agreement to purchase as much as 49% interest in Essar Energy PLC subsidiary Essar Oil Ltd., including its 20 million-tonne/year Vadinar refinery in Gujarat, India.

MPLX, MarkWest to merge in $15.8 billion deal

MPLX LP, a Findlay, Ohio-based master limited partnership (MLP) formed by Marathon Petroleum Corp. in 2012, and Denver-based MarkWest Energy Partners LP have agreed to a unit-for-unit merger deal in which MarkWest will become a wholly owned subsidiary of MPLX. The deal, valued at $15.8 billion in stock and cash excluding debt, is expected to close in the fourth quarter.

EPP completes acquisition of EFS Midstream

Enterprise Products Partners LP (EPP) said it has completed the purchase of EFS Midstream LLC from Pioneer Natural Resources Co. and Reliance Holding USA Inc.

BLM proposes updates to its oil, gas measurement requirements

The US Bureau of Land Management proposed regulations to ensure more accurate measurement, accountability, and royalty payments for oil and gas production from onshore federal and Indian oil and gas leases.

Western Australia, Browse JV agree on gas supply plan

The Western Australian government and the Woodside Petroleum Ltd.-led Browse joint venture have finally come to an agreement over the supply of gas from the Browse gas fields for the domestic market.

Watching Government: Western governors' concerns

Wyoming Gov. Matt Mead (R) will focus primarily on the Endangered Species Act as the 2016 Western Governors' Association Chairman's Initiative, he announced at the group's annual meeting on June 26.

MARKET WATCH: NYMEX crude oil prices down slightly pending Iran talk results

US light, sweet crude oil prices settled down slightly July 10 on the New York market, ending a week in which the front-month contract saw its biggest single-week drop since March, which analysts attributed largely to uncertainties about Greece’s debt and talks regarding Iran’s nuclear program.

PHMSA proposes pipeline accident notification regulations

The US Pipeline and Hazardous Materials Safety Administration has proposed new federal oil and gas pipeline accident and notification regulations.

API to issue recommended practice to address pipeline safety

The American Petroleum Institute expects to issue a new recommended practice in another few weeks that addresses pipeline safety issues, but the trade association is equally working on challenges involving rail and maritime transportation, said Robin Rorick, API midstream and industry operations director.

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