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MRPL increases ownership in aromatics complex

Mangalore Refinery & Petrochemicals Ltd. (MRPL), a subsidiary of Oil & Natural Gas Corp. Ltd. (ONGC), has increased its ownership interest in ONGC Mangalore Petrochemicals Ltd. (OMPL), an aromatics complex adjacent to and fully integrated with MRPL’s 15 million-tonne/year refinery at Mangalore, India.

Bakken likely to be hardest hit by oil-price slump

Opinions varied among analysts and consultants contacted by UOGR regarding which unconventional US plays will maintain robust drilling and investment this year despite dropping oil and natural gas prices. But, the Bakken formation was commonly said to be the region most apt to feel the sting.

CNOOC signs two South China Sea PSCs with SK Innovation

China National Offshore Oil Corp. Ltd. signed two production-sharing contracts with SK Innovation Co. Ltd., Seoul, for two blocks in the Pearl River Mouth basin of the South China Sea.

Renewed uncertainty emerges over Greater Sunrise development

There has been renewed uncertainty over the development of the Woodside Petroleum Ltd.-operated Greater Sunrise gas field in the Timor Sea following an East Timorese parliamentary law passed last week. This came in the wake of the resignation of East Timor’s Prime Minister Xanana Gusmao.

Senators’ bill aims to curb flaring by expediting permit process

North Dakota and Wyoming’s US senators introduced legislation that aims to capture methane and reduce flaring by expediting procedures for obtaining permits for natural gas gathering lines on federal and Indian lands.

USW union workers add two BP refineries to strike list

Union workers at two BP PLC-owned refineries in Indiana and Ohio have joined the United Steelworkers union’s (USW) unfair labor practice (ULP) strike against the oil industry that began on Feb. 1 after a breakdown in discussions with companies regarding collective bargaining agreements over pay, benefits, and health and safety standards.

Bendine elected as Petrobras’ chief executive officer

The board of Petroleo Brasileiro SA (Petrobras) has approved the election of Alde Mir Bendine as the company’s chief executive officer.

Central starts gas sales from Palm Valley field

Central Petroleum Ltd., Brisbane, is to start sale of early natural gas from Palm Valley field to Northern Territory Power & Water Corp. under an agreement previously struck with Magellan Petroleum Australia.

Association presidents want more access in next 5-year OCS plan

The presidents of three major US oil and gas trade associations urged the US Bureau of Ocean Energy Management to keep more of the US Outer Continental Shelf available for oil and gas leasing as the agency prepared to begin public meetings about the draft proposed 2017-22 US OCS Oil and Gas Leasing Program.

MARKET WATCH: NYMEX oil prices settle above $51/bbl

Crude oil prices rose on the New York market Feb. 6 to settle above $51/bbl after the Baker Hughes Inc. weekly rig count showed a decline of 87 rigs for the week ended Feb. 6, marking 10 weeks of consecutive falling rig count totals.

Oxy cuts capital budget by a third

In the midst of falling oil prices, Occidental Petroleum Corp., Houston, expects to reduce its total capital spending for 2015 to $5.8 billion from $8.7 billion in 2014.

Watching Government: EPA's ozone proposal

Witnesses from the US oil and gas industry and other businesses strongly spoke out on Jan. 29 against the US Environmental Protection Agency's proposal to reduce the ozone National Ambient Air Quality Standard from 75 ppb.

After Keystone nod, Congress should okay ANWR leasing

Now that it has passed legislation supporting the Keystone XL pipeline, Congress should approve oil and gas leasing of the Arctic National Wildlife Refuge coastal plain in Alaska.

White House proposes making ANWR coastal plain wilderness

The Obama administration said it will propose managing more of the Arctic National Wildlife Refuge, including its coastal plain, as wilderness.

Obama's proposed fiscal 2016 budget recycles oil tax increases

US President Barack Obama has proposed his federal budget for fiscal 2016 that he said was designed to help a beleaguered middle class take advantage of a strong economic recovery.

Market Connections

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Texas A&M University at Qatar (TAMUQ) (http://www.qatar.tamu.edu/) invites applications for the position of Chair of the Petroleum Engineering ...
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