More Oil & Gas News

Investigation under way into Kansas refinery fire

CVR Refining LP, Sugar Land, Tex., has begun an official investigation into the cause of a fire that broke out on July 29 at the isomerization (isom) unit at its 115,000 b/d refinery at Coffeyville, Kan.

BLM drilling permit bill attracts broad support at Senate hearing

Witnesses and committee members argued over the extent of oil and gas drilling permit delays at US Bureau of Land Management field offices. But they strongly supported a bill that would make permanent a pilot program enacted in 2005 to begin relieving the problem at a July 29 US Senate Energy and Natural Resources Committee hearing.

MARKET WATCH: Crude oil futures prices in New York end July below $100/bbl mark

The New York Mercantile Exchange September crude oil contract dropped $2.10 July 31 to close the month below the $100/bbl level, settling at $98.17/bbl. The October contract decreased $1.72 to $97.32/bbl.

Osum completes purchase of Orion project from Shell

Osum Production Corp., a wholly owned subsidiary of Osum Oil Sands Corp., Calgary, has completed its purchase of the Orion oil sands project in the Cold Lake region of Alberta from Shell Canada for $325 million (Can.).

EPA won’t require 2013 RFS reports until after 2014 quotas are out

Refiners and other obligated parties under the federal Renewable Fuels Standard won’t be required to file 2013 reports until after 2014 quotas for cellulosic biofuel, biomass-based diesel, advanced biofuel, and total renewable fuel have been announced, the US Environmental Protection Agency said.

SM Energy to acquire North Dakota assets from Baytex

SM Energy Co., Denver, has agreed to acquire 61,000 net acres in Divide and Williams Counties, ND, from Baytex Energy Corp., Calgary, for $330.5 million, effective July 1. The deal is expected to close toward the end of the third quarter.

Oregon LNG granted DOE approval to export to non-FTA countries

The US Department of Energy conditionally authorized LNG Development Co. LLC (Oregon LNG) to export the equivalent of up to 1.25 bcfd of US-produced LNG for 20 years to countries that do not have a free-trade agreement (FTA) with the US. The Oregon LNG terminal will be sited in Warrenton, Ore.

Golden Pass partners let contract for LNG export facility

Golden Pass Products LLC (GPP), a Houston-based joint venture of units of Qatar Petroleum International and ExxonMobil Corp., has let a front-end engineering design services contract to CB&I and partner Chiyoda Corp. for a proposed LNG export project at an existing import terminal in Sabine Pass, Tex.

Eni signs PSCs for onshore Myanmar blocks

Eni SPA has signed production-sharing contracts for two blocks in Myanmar with the country’s Ministry of Energy.

MARKET WATCH: NYMEX, Brent oil futures prices both dip

Front-month crude oil futures prices settled lower on the New York market July 30, reaching their lowest closing since July 15, and continued the downward pattern in early trading on July 31.

DOE unveils initiative to curb methane emissions from US gas systems

The US Department of Energy announced an initiative to reduce methane emissions from natural gas systems nationwide following a series of roundtables with stakeholders. The measures are part of the Obama administration’s larger methane emissions reduction strategy to fight causes of global climate change, DOE said.

BOEM adds 15 days to 2017-22 OCS leasing program’s comment period

The US Bureau of Ocean Energy Management said it would allow 15 additional days for public comments on its request for information and comments on preparation of its 2012-17 US Outer Continental Shelf oil and gas leasing program.

PwC: 2Q oil and gas M&A activity strongest in 5 years

The US oil and gas industry experienced a substantial rise in mergers and acquisitions during the second quarter, according to a quarterly report by PwC US Energy Practice.

Rosneft, PDVSA sign agreements for offshore projects

OAO Rosneft and Petroleos de Venezuela SA (PDVSA) have signed a cooperation agreement for offshore projects in the Rio-Caribe and Mejillones blocks, the second stage of the Mariscal Sucre gas project

Oando completes purchase of Nigeria assets from ConocoPhillips

Oando Energy Resources (OER), a Calgary-based subsidiary of Oando PLC, has completed its acquisition of the Nigeria upstream business of ConocoPhillips for $1.5 billion.

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