RSS Oil & Gas Industry News

  • US House panel examines improved US resource position, geopolitics
    A dramatically improved US oil and gas resources outlook in the last 10 years has created important geopolitical and trade opportunities while making the country more secure in energy and economic terms, witnesses told a US House Foreign Affairs subcommittee on May 22.
  • ExxonMobil plans 15% decrease in methane emissions
    ExxonMobil Corp. reported greenhouse gas reduction measures that are expected to decrease its methane emissions by 15% and flaring by 25% by 2020. Efficiency improvements in its refining and chemical manufacturing facilities also are planned. 
  • Sanchez, Targa expand midstream joint venture in South Texas
    Sanchez Midstream Partners and Targa Resources have merged their respective 50% interests in the entities that own the high-pressure Carnero gathering line and Raptor gas processing facility to form an expanded 50-50 joint venture in South Texas. 
  • BC lawsuit challenges Alberta’s Bill 12
    The British Columbia government has filed a lawsuit challenging legislation that empowers Alberta’s energy minister to require licenses for transport of energy away from the province. The Alberta Legislative Assembly passed Bill 12 this month in response to BC opposition to expansion by Kinder Morgan of the Trans Mountain Pipeline between Edmonton and Burnaby, BC. […]
  • Santos rejects Harbour takeover proposal, terminates discussions
    Santos Ltd., Adelaide, has rejected the latest conditional, binding takeover offer from Harbour Energy Ltd. Harbour confirmed that this week’s proposal of a scheme of arrangement at a cash price of $5.21/share was its best and final offer. 
  • EIA: US crude stockpiles increase 5.8 million bbl
    US crude oil inventories, excluding the Strategic Petroleum Reserve, increased 5.8 million bbl for the week ended May 18, according to US Energy Information Administration data.
  • Iranian sanctions hit work in field off UK
    Recompletion of a well in Rhum gas field in the UK North Sea has been suspended because Iranian Oil Co. (UK) Ltd., a subsidiary of National Iranian Oil Co., holds a 50% interest.  
  • MARKET WATCH: NYMEX, Brent crude prices split directions on geopolitical risks
    Brent crude oil prices gained modestly during the May 22 trading session in London to remain above $79/bbl for a second consecutive day while light, sweet crude oil prices dropped slightly May 22 on the New York market to settle above $72/bbl.
  • Industry, government seen better prepared for 2018 hurricane season
    Governments at every level and all parts of the US oil and gas industry have learned from past extreme weather events and are better prepared for the 2018 Atlantic Hurricane Season, officials from six national trade associations generally agreed on May 22. 
  • Chemical Safety Board chair to resign next month
    US Chemical Safety Board Chair and Chief Executive Vanessa Allen Sutherland announced she will resign next month. Board members will be required to vote on an interim executive, unless and until the White House nominates and the Senate confirms a new chair, the 20-year-old independent federal agency said on May 21.

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