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OGJ Newsletter

May 18, 2015

International news for oil and gas professionals

WoodMac: Brazil, Norway oil to alter markets

May 18, 2015

An estimated 3.8 million b/d of new supply by 2025 of heavy, sweet crude from large developments offshore Brazil and Norway will help European refiners, says Wood Mackenzie.

Shell gets conditional approval for US Arctic drilling plan

May 15, 2015

The US Bureau of Ocean Energy Management (BOEM) on May 11 conditionally approved Shell Gulf of Mexico Inc.'s revised multiyear exploration plan (EP) that proposes the drilling of as many as six wells on the Burger prospect in the Chukchi Sea.

OTC: Many variables dictate N. America's emergence as a global energy force

May 15, 2015

North American businesses and governments must work together toward the collective goal of advancing the continent's energy aspirations.

ANGA forum examines resistance to new gas pipeline projects

May 15, 2015

A growing public outcry from their constituents against mid-winter price spikes may be necessary to convince some public officials that supporting natural gas pipeline construction is in their own best interests, speakers agreed at a May 14 Infrastructure Week discussion hosted by America’s Natural Gas Alliance.

Rio Grande LNG project advances with FEED, EPC agreement

May 14, 2015

NextDecade LLC, The Woodlands, Tex., has signed an agreement with CB&I for the front-end engineering design (FEED) and engineering, procurement, and construction (EPC) terms related to the Rio Grande LNG export project in Brownsville, Tex. This agreement follows NextDecade’s applying for and acceptance into the FERC pre-filing process in late March.

US House subcommittee examines gas pipeline permitting delays

May 14, 2015

Reforms should be considered to ease delays that have developed for interstate natural gas pipeline projects requiring federal permits, two witnesses told a US House Energy and Commerce subcommittee. But a third warned that trying to facilitate approvals is unnecessary and could jeopardize protections for states under three major federal statutes.

Cheniere reaches FID for Corpus Christi liquefaction project

May 14, 2015

Cheniere Energy Inc. has made a final investment decision (FID) for its liquefaction project near Corpus Christi, Tex., and has issued a notice to proceed to Bechtel Oil, Gas & Chemicals Inc. for construction of the first two liquefaction trains.

BP lets Thunder Horse expansion contract

May 13, 2015

BP Exploration & Production Inc. has let a contract to Technip covering pipeline systems for a southern expansion of ultradeepwater Thunder Horse oil and gas field on Mississippi Canyon Blocks 778 and 822 in the Gulf of Mexico.

Murkowski, Heitkamp introduce bill to end US crude oil export ban

May 13, 2015

US Sens. Lisa Murkowski (R-Alas.) and Heidi Heitkamp (D-ND) jointly introduced legislation that would end a 40-year ban on exports of crude oil produced in the US. Eleven more Senate Republicans cosponsored the measure.

PwC: Low oil prices reduce 1Q M&A activity in US

May 11, 2015

Mergers and acquisitions (M&A) activity in the oil and gas industry took a hit in value and volume during the first quarter compared with fourth-quarter 2014, as the drop in oil prices continued to impact companies’ growth strategies, according to a report from PwC US.

Gazprom, CNPC sign heads of agreement on western route

May 11, 2015

OAO Gazprom and China National Petroleum Corp. signed a heads of agreement for gas supply via the western route from Western Siberia to China. The companies had signed a framework agreement on the western route last November.

Cost opportunity seen for LNG projects in western Canada

May 11, 2015

Rising construction costs in the US and falling oil prices give LNG export projects in western Canada a window of opportunity in competition with otherwise advantaged projects to the south.

EIA: East Coast refineries got 52% of crude by rail in February

May 11, 2015

US East Coast refineries received more than half of their crude oil feedstocks by rail during February, the US Energy Information Administration reported.

Senate Democrats offer bill to phase out older rail tank cars

May 11, 2015

Legislation to accelerate the phase-out of older rail tank cars to reduce accidental crude oil spills has been introduced by Finance Committee Ranking Minority Member Ronald L. Wyden (D-Ore.) and six other US Senate Democrats.

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