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The contract for US light, sweet crude oil for April delivery rose more than $1/bbl Feb. 27, and analysts said February marked the first monthly gain for crude oil on the New York market since June 2014.

Posted: March 2, 2015, 3:29 pm

Magellan Midstream Partners LP and Plains All American Pipeline LP have formed Saddlehorn Pipeline Co., a 50-50 limited liability joint venture, to build, own, and operate the 550-mile Saddlehorn pipeline, shipping crude oil from the Denver-Julesburg basin, and potentially the broader Rocky Mountain area, to storage in Cushing, Okla.

Posted: February 27, 2015, 10:19 pm

The US crude oil renaissance has created strong demand for expanded US transportation systems, resulting in five primarily challenges, a recent Center for Strategic and International Studies report concluded.

Posted: February 27, 2015, 5:12 pm

PetroChina is reportedly considering selling its half of Arrow Energy’s Queensland coal seam gas (CSG) resources.

Posted: February 27, 2015, 4:39 pm

Deirdre Michie has been named chief executive of Oil & Gas UK, replacing Malcolm Webb, who will retire May 31.

Posted: February 27, 2015, 3:44 pm

The contract for US light, sweet crude oil for April delivery plunged by more than $2.80/bbl on the New York market Feb. 26 as volatility sent crude prices on a steep decline toward their lowest level in nearly a month.

Posted: February 27, 2015, 3:31 pm

Depressed crude oil prices are putting new pressure on Latin American producing countries to improve terms if they expect to attract outside investment for developing resources, speakers said during a Feb. 25 discussion at the Center for Strategic & International Studies.

Posted: February 26, 2015, 9:58 pm

Detectable levels of petroleum were found in tests of fish pulled from the Yellowstone River downstream from a broken petroleum pipeline near Glendive. Mont., and the Montana Fish, Wildlife and Parks advised fishermen to use caution when deciding whether to eat fish from the oil spill area.

Posted: February 26, 2015, 9:45 pm

The dramatic fall in oil prices is being blamed for the lack of interest shown by international oil companies (IOCs) in the deepwater offshore Suriname in the Suriname-Guyana basin.

Posted: February 26, 2015, 6:31 pm

The US House Oversight and Government Reform Committee began an investigation of the US Department of State’s environmental impact statement for the proposed Keystone XL crude oil pipeline. It requested comments DOS asked other federal departments to provide regarding DOS’s final supplemental EIS for the project in a Feb. 24 letter to Sec. of State John F. Kerry.

Posted: February 26, 2015, 6:08 pm

Antero Resources Corp., Denver, said it plans to spend $1.6 billion during 2015 for drilling and completion activities in the Marcellus and Utica shale plays, marking a 36% reduction as compared with 2014 drilling and completion expenditures.

Posted: February 26, 2015, 5:57 pm

The virtually untouched Albertine Graben of Uganda may contain more than 6.5 billion bbl of oil resources according Ugandan officials.

Posted: February 26, 2015, 5:25 pm

The US Bureau of Land Management’s Utah state office will adopt the US Forest Service’s final environmental impact statement and record of decision for oil and gas leasing on land administered by Fishlake National Forest.

Posted: February 26, 2015, 4:56 pm

US light, sweet crude oil prices gained more than $1/bbl on the New York market Feb. 25 while Brent crude oil prices jumped by nearly $3/bbl on the London market on comments from Saudi Arabia Oil Minister Ali al-Naimi that world oil demand was increasing.

Posted: February 26, 2015, 4:43 pm

Chesapeake Energy Corp., Oklahoma City, is budgeting total capital expenditures, including capitalized interest, of $4-4.5 billion for 2015.

Posted: February 25, 2015, 10:06 pm

The UK’s Oil and Gas Authority, responding to calls from industry and the government for prompt support of UK Continental Shelf (UKCS) exploration and production, has described “eight highest priority actions” for its first year of operation.

Posted: February 25, 2015, 6:51 pm

Grizzly Oil Sands ULC, Calgary, has filed an Oil Sands Conservation Act application with Alberta Energy Regulator for the Thickwood project.

Posted: February 25, 2015, 5:53 pm

Calling it a remarkable example of federal, state, and local cooperation, US Sec. of the Interior Sally Jewell said the US Bureau of Land Management is finishing up plans to protect the Greater Sage Grouse and make it unnecessary for the US Fish and Wildlife Service to list it as an endangered or threatened species.

Posted: February 25, 2015, 5:23 pm

Encana Corp. is reducing its previously reported capital investment for 2015 by $700 million to $2-2.2 billion “to maintain a solid balance sheet and help strengthen liquidity through a low price environment.”

Posted: February 25, 2015, 5:11 pm

Colorado Gov. John W. Hickenlooper’s (D) oil and gas siting taskforce called for more consultation and greater involvement with local communities on Feb. 24, but stopped short of giving them more power as it forwarded 9 of 36 proposals to him, The Denver Post reported.

Posted: February 25, 2015, 5:01 pm

US light, sweet crude oil prices for April delivery settled slightly above $49/bbl on the New York market Feb. 24 while market participants awaited the US government’s inventory report on oil and product supplies.

Posted: February 25, 2015, 4:46 pm

A joint venture of Santos Ltd. and Inpex Corp. has been awarded two exploration permits in the Browse basin offshore Western Australia, about 500 km from Broome.

Posted: February 25, 2015, 3:44 pm

US President Barack Obama vetoed S. 1, authorizing construction of the proposed Keystone XL crude oil pipeline, saying that Congress had attempted to circumvent long-standing processes for determining whether building and operating a crossborder pipeline was in the national interest.

Posted: February 25, 2015, 3:21 pm

The struggling producing industry on the UK Continental Shelf needs deep cost cuts, according to the Oil & Gas UK’s Activity Survey 2015.

Posted: February 24, 2015, 6:56 pm

Most, if not all, of the crude oil that would be transported via the proposed Keystone XL pipeline to the US Gulf Coast would not be exported, and the vast majority of refined product—about 70%—derived from it would be consumed in the US, according to a recent report by IHS.

Posted: February 24, 2015, 6:32 pm

Enterprise Products Partners LP, Anadarko Petroleum Corp., DCP Midstream Partners LP, and MarkWest Energy Partners LP have formed a joint venture assigning 45% ownership interest in EPP’s wholly owned Panola Pipeline Co. LLC in equal 15% shares to Anadarko’s affiliate, WGR Asset Holding Co. LLC (WGR), DCP Midstream Partners, and MarkWest.

Posted: February 24, 2015, 6:03 pm

A Skagit County Hearing Examiner in Mount Vernon, Wash., halted Royal Dutch Shell PLC’s plans to move Bakken crude oil by rail to the company’s Anacortes refinery in northwest Washington pending an environmental and public health risk review, which could take a year or more.

Posted: February 24, 2015, 5:49 pm

Lime Petroleum Norway AS, a wholly owned subsidiary of Lime Petroleum PLC, has agreed to take 30% interest in PL338C in the North Sea from Lundin Norway AS, a wholly owned subsidiary of Lundin Petroleum AB.

Posted: February 24, 2015, 5:42 pm

US light, sweet crude oil prices for April delivery settled below $50/bbl on the New York market Feb. 23, and analyst said oversupply fears were likely to extend price losses.

Posted: February 24, 2015, 4:11 pm

The United Steelworkers union (USW) has launched additional work stoppages at the largest refinery in the US and three other facilities as part of USW’s unfair labor practice (ULP) strike.

Posted: February 23, 2015, 6:16 pm

The Alberta Energy Regulator (AER) announced seismic monitoring and reporting requirements for companies using hydraulic fracturing in the Duvernay zone of the Fox Creek area following some seismic events there in December 2014 and in January.

Posted: February 23, 2015, 4:22 pm

US oil product demand rose 1.5% year-to-year to an average 19.2 million b/d in January, its highest level for the month since 2008, the American Petroleum Institute reported. Gasoline demand growth was strongest, reaching a 6-year January peak of 8.7 million b/d, 6.3% more than in January 2014, API said in its latest Monthly Statistical Report.

Posted: February 23, 2015, 4:02 pm

US light, sweet crude oil prices for March delivery fell during Feb. 20 trading and settled above $50/bbl on the New York market. Some analysts suggested ample worldwide oil supplies could push prices below that level in coming weeks.

Posted: February 23, 2015, 3:54 pm

Partners Statoil ASA, Lundin Petroleum AB, Petoro, Det Norske Oljeselskap ASA, and Maersk Oil have submitted a plan for development and operation (PDO) for Phase 1 of Johan Sverdrup field to the Norwegian Ministry of Petroleum and Energy.

Posted: February 23, 2015, 3:12 pm

The Ohio Supreme Court ruled that the city of Munroe Falls cannot impose local drilling and zoning ordinances that conflict with Ohio state law regarding oil and natural gas activities. The high court split in a 4-3 decision with three justices providing written dissents.

Posted: February 23, 2015, 3:11 pm

Citing a Jan. 17 leak of 1,200 bbl of crude oil from a ruptured pipeline in eastern Montana, Gov. Steve Bullock (D) asked US Sec. of Transportation Anthony Foxx to send more pipeline inspectors to the state and schedule more inspections there.

Posted: February 23, 2015, 3:10 pm

The US Bureau of Ocean Energy Management published a fresh supplemental environmental impact statement (SEIS) for a Chukchi Sea federal oil and gas sale originally held in 2008 after a federal appeals court threw out the first SEIS on Jan. 22, 2014.

Posted: February 23, 2015, 3:06 pm

The US Bureau of Land Management issued a record of decision (ROD) for the proposed Greater Mooses Tooth One project (GMT1), which cleared the way for the first crude oil production from federal land within the 23 million-acre National Petroleum Reserve-Alaska.

Posted: February 23, 2015, 3:05 pm

The US Bureau of Land Management takes an average 227 days to process an application to drill for oil and gas on onshore federal land it oversees. States take nowhere near as long when it comes to acreage they control, congressional Republicans have noted for years.

Posted: February 23, 2015, 3:03 pm

The US House of Representatives voted by 270 to 152 to pass S. 1, which would deem the proposed Keystone XL crude oil pipeline approved more than 6 years after sponsor TransCanada Corp. applied for its presidential crossborder permit.

Posted: February 23, 2015, 2:52 pm

TransCanada Corp. responded critically to the Feb. 2 comment letter from the US Environmental Protection Agency on the US Department of State's final supplemental environmental impact statement (SEIS) for the Keystone XL crude oil pipeline.

Posted: February 23, 2015, 6:00 am

One of the most rewarding events in the career of an OGJ editor can be the experience of opening his or her e-mail to find among the typical daily dross a line or two from our readers.

Posted: February 23, 2015, 6:00 am

EOG Resources Inc., Houston, plans a capital budget of $4.9-5.1 billion in 2015 including production facilities and midstream expenditures, representing a 40% reduction compared with last year’s budget.

Posted: February 20, 2015, 10:31 pm

The US Department of the Interior proposed regulations to ensure that oil and gas exploration on the US Arctic Continental Shelf occur safely and responsibly. The requirements, once they become final, would affect activity under the 2017-22 OCS Management Program, but not operations before that period.

Posted: February 20, 2015, 10:27 pm

Investments in oil and gas transportation and storage should move ahead because they are essential in continuing the US economic recovery and North American energy renaissance, witnesses told a US House Transportation and Infrastructure subcommittee.

Posted: February 20, 2015, 7:12 pm

The US drilling rig count fell 48 units—markedly fewer compared with declines in recent weeks—to settle at 1,310 rigs working during the week ended Feb. 20, Baker Hughes Inc. reported.

Posted: February 20, 2015, 6:54 pm

Noble Energy Inc., Houston, plans to spend $2.9 billion in 2015, representing a 40% reduction from 2014. The company also reported full-year 2014 net income of $1.21 billion and adjusted income of $881 million.

Posted: February 20, 2015, 5:54 pm

Eastern Mediterranean nations should abandon inflated expectations and adopt more realistic approaches to developing their natural gas resources, speakers recommended at a Feb. 19 Brookings Institution forum. This includes recognizing that their relatively smaller deposits are best suited to sales within the region, they said.

Posted: February 20, 2015, 5:46 pm

US light, sweet crude oil prices for March delivery settled at slightly above $51/bbl on the New York market Feb. 19 after a government weekly report showed a bigger-than-expected build in US oil and petroleum product supplies.

Posted: February 20, 2015, 3:33 pm

Indian Oil Corp. Ltd. (IOC) has approved a series of expansions and upgrades designed to improve fuel quality and production at several of its refining and petrochemical operations in India.

Posted: February 19, 2015, 10:28 pm

Mergers and acquisitions (M&A) activity in the US chemicals business ramped up substantially in 2014, recording the highest volume in a decade and reaching the highest deal value since 2007, according to a quarterly analysis of the global deal activity in the chemicals industry by PwC US.

Posted: February 19, 2015, 6:08 pm

Shareholders of Talisman Energy Inc., Calgary, have approved the acquisition of the company by Spain’s Repsol SA.

Posted: February 19, 2015, 5:13 pm

Marathon Oil Corp., Houston, has reduced its capital, investment, and exploration budget for 2015 by another 20% to $3.5 billion.

Posted: February 19, 2015, 5:09 pm

Panda Power Funds agreed to jointly develop a 1,000-Mw Pennsylvania power project that will use natural gas from the Marcellus shale, the Dallas private equity firm reported.

Posted: February 19, 2015, 5:04 pm

US light, sweet crude oil prices for March delivery settled down more than $1/bbl on the New York market Feb. 18 awaiting the government’s weekly report on US oil and petroleum product supplies, which rose to a new record.

Posted: February 19, 2015, 4:47 pm

Santos Ltd. has finalized its acquisition of 50% interest in exploration permit PPL 269 in Papua New Guinea from New Guinea Energy for an initial payment of $32 million.

Posted: February 19, 2015, 3:26 pm

An investigation is under way into the cause of an explosion and ensuing fire that took place at ExxonMobil Corp.’s 149,500-b/d Torrance, Calif., refinery on Feb. 18.

Posted: February 19, 2015, 3:17 pm

US Sens. Lisa Murkowski (R-Alas.) and Heidi Heitkamp (D-ND) led a coalition asking US Sec. of Commerce Penny Pritzker in a Feb. 18 letter to encourage the administration to authorize crude oil exports to Mexico under the same conditions established for those to Canada.

Posted: February 18, 2015, 10:34 pm

The board of Petroleos Mexicanos (Pemex) has approved a $4-billion budget reduction for 2015, an 11.5% decrease compared with the previous expenditure program authorized by Mexico’s Congress.

Posted: February 18, 2015, 10:30 pm

The US should pursue relations with Azerbaijan that recognize its strategic importance as an energy supplier to countries farther west but do not ignore human rights questions that have emerged recently, witnesses told a US House Foreign Affairs subcommittee.

Posted: February 18, 2015, 10:26 pm

Mexico’s Petroleos Mexicanos (Pemex), through a contractor, has let a contract to SENER Ingeniería y Sistemas SA, Mexico City, a division of SENER Group, Barcelona, for work related to the modernization of the Antonio M. Amor refinery in Salamanca, Guanajuato. The revamp is part of Pemex’s previously announced $2.8 billion investment into increasing ultralow-sulfur diesel (ULSD) production at five of the country’s refineries.

Posted: February 18, 2015, 8:29 pm

Magnum Hunter Resources Corp., Houston, plans a $100 million upstream capital expenditure budget for 2015, down from the $400 the company planned for 2014.

Posted: February 18, 2015, 6:22 pm

Gulf Coast Western LLC (GCW), Dallas, has acquired a large working interest in a block of leases covering 29,000 acres in Conecuh and Covington counties in southern Alabama. Terms of the deal were not disclosed.

Posted: February 18, 2015, 5:50 pm

The US Bureau of Land Management’s Pinedale Anticline Project Office (PAPO) is seeking public comments on a 2014 acoustic noise report on sound levels at 19 Greater Sage Grouse leks—places where males gather to attract females during mating season—in western Wyoming’s Pinedale Anticline natural gas field.

Posted: February 18, 2015, 5:38 pm

Production from giant Groningen natural gas field in the Netherlands might be further curtailed in response to public concern about earthquakes.

Posted: February 18, 2015, 4:29 pm

US light, sweet crude oil prices for March delivery closed above $53/bbl on the New York market Feb. 17 after the market was closed on Feb. 16 for Presidents Day.

Posted: February 18, 2015, 4:04 pm

Global demand for energy is expected to rise by 37% from 2013 to 2035, or by an average of 1.4%/year, due in large part to ongoing economic expansion in Asia, particularly in China and India, according to the latest BP Energy Outlook 2035.

Posted: February 17, 2015, 10:12 pm

Devon Energy Corp., Oklahoma City, plans an exploration and production capital budget of $4.1-4.4 billion in 2015, representing a 20% decline compared with 2014.

Posted: February 17, 2015, 10:05 pm

The Ohio Supreme Court ruled that the city of Munroe Falls cannot impose local drilling and zoning ordinances that conflict with Ohio state law regarding oil and natural gas activities. The high court split in a 4-3 decision with three justices providing written dissents.

Posted: February 17, 2015, 9:55 pm

The government of Uganda has selected a consortium led by Russia’s RT Global Resources, Moscow, as its first choice to construct the country’s first refinery.

Posted: February 17, 2015, 6:29 pm

Citing a Jan. 17 leak of 1,200 bbl of crude oil from a ruptured pipeline in eastern Montana, Gov. Steve Bullock (D) asked US Sec. of Transportation Anthony Foxx to send more pipeline inspectors to the state and schedule more inspections there.

Posted: February 17, 2015, 6:12 pm

A large-scale cleanup and investigation have launched following the Feb. 16 derailment of a CSX crude oil train near Mount Carbon, W.Va.

Posted: February 17, 2015, 5:39 pm

The April ICE contract for Brent crude oil prices rose modestly in London to settle above $62/bbl on Feb. 16 while the New York Mercantile Exchange was closed for Presidents Day so no settlement prices were available for US energy commodities.

Posted: February 17, 2015, 4:08 pm

Phillips 66 Partners LP has reached agreement with Phillips 66 to acquire Phillips 66’s interests in three pipeline systems for a total of $1.01 billion.

Posted: February 16, 2015, 10:51 pm

Liquefied Natural Gas Ltd.’s wholly owned subsidiary Bear Head LNG Corp. received notice from the Canadian Environment Assessment Agency (CEAA) that its proposed LNG liquefaction plant and export terminal in Nova Scotia would not need to adhere to the Canadian Environmental Assessment Act of 2012 (CEAA 2012).

Posted: February 16, 2015, 8:27 pm

The US Bureau of Land Management issued a record of decision (ROD) for the proposed Greater Mooses Tooth One project (GMT1), which cleared the way for the first crude oil production from federal land within the 23 million-acre National Petroleum Reserve-Alaska.

Posted: February 16, 2015, 7:02 pm

The government of India’s Andhra Pradesh state has entered an agreement with Al Qebla Al Watya Inc., a subsidiary of Mohammed Abdulmohsin Al-Kharafi & Sons Co., Safat, to set up a large-scale refinery and petrochemical complex along the country’s eastern coast.

Posted: February 16, 2015, 6:52 pm

Australia’s Northern Territory government has selected Inpex Corp. for onshore oil and gas exploration in the Beetaloo basin, southeast of Darwin.

Posted: February 16, 2015, 5:43 pm

US light, sweet crude oil prices closed more than $1/bbl higher on the New York market Feb. 13, and Brent crude oil prices settled more than $2/bbl higher on strong economic indicators from Europe where stock markets ended a volatile week at 7-year highs.

Posted: February 16, 2015, 4:25 pm

Anyone puzzled by the delay in approval of the Keystone XL pipeline border crossing-running 6 years now, and counting-should read the Obama administration's latest rationale.

Posted: February 16, 2015, 7:56 am

Union workers at two BP PLC-owned refineries in Indiana and Ohio have joined the United Steelworkers union's unfair labor practice 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.

Posted: February 16, 2015, 7:48 am

CNOOC Ltd. is slashing its capital budget for 2015 by 26-35% to $11.25-12.86 billion compared with last year's budget. Capital expenditures for exploration, development, and production respectively account for 21%, 67%, and 10% of the budget.

Posted: February 16, 2015, 7:47 am

Statoil ASA has reduced its organic capital expenditure to $18 billion in 2015 from $20 billion in 2014. The move comes on the heels of a fourth quarter in which the Norwegian multinational firm reported net losses of $1.18 billion, compared with a $1.98-billion gain in fourth-quarter 2013.

Posted: February 16, 2015, 7:41 am

BP PLC plans an organic capital expenditure of $20 billion in 2015, down from the previous guidance of $24-26 billion. Total organic capital expenditure in 2014 was $22.9 billion, lower than its initial guidance of $24-25 billion.

Posted: February 16, 2015, 7:38 am

Pessimism about the UK offshore oil and gas industry is gaining momentum.

Posted: February 16, 2015, 7:36 am

A Deloitte MarketPoint analysis suggested large-field projects, each producing more than 25,000 b/d, could bring on 1.835 million b/d in oil supply this year, of which 635,000 b/d would be from members of the Organization of Petroleum Exporting Countries and the rest from non-OPEC production.

Posted: February 16, 2015, 7:32 am

The recent global crude-oil price plunge could be aggravating underlying problems in Mexico, Colombia, and other Western Hemisphere producing nations, speakers suggested during a Feb. 4 discussion at the Woodrow Wilson International Center for Scholars.

Posted: February 16, 2015, 7:29 am

"Climate change is real and not a hoax."

Posted: February 16, 2015, 7:22 am

The US Bureau of Ocean Energy Management published a fresh supplemental environmental impact statement for a Chukchi Sea federal oil and gas sale originally held in 2008 after a federal appeals court threw out the first SEIS on Jan. 22, 2014.

Posted: February 13, 2015, 9:23 pm

Russia’s OAO Lukoil has let a contract to a consortium headed by South Korea’s Hyundai Engineering Co. Ltd., Seoul, for the construction of its long-planned Kandym gas processing plant to be built in southern Uzbekistan, about 520 km southwest of Tashkent.

Posted: February 13, 2015, 6:46 pm

Horn Petroleum Corp., Vancouver, BC, will reduce its presence in Bosaso, Puntland (Somalia), and will “refrain from any operational activity and associated expenditures pending a resolution of the political situation between the regional government of Puntland and the federal government of Somalia regarding the legitimacy of oil concession contracts,” the company said.

Posted: February 13, 2015, 6:39 pm

The International Energy Agency’s governing board confirmed the appointment of Fatih Birol as the agency’s next executive director. Birol succeeds Maria van der Hoeven, who will complete her 4-year term on Aug. 31.

Posted: February 13, 2015, 5:58 pm

Partners Statoil ASA, Lundin Petroleum AB, Petoro, Det Norske Oljeselskap ASA, and Maersk Oil have submitted a plan for development and operation (PDO) for Phase 1 of Johan Sverdrup field to the Norwegian Ministry of Petroleum and Energy.

Posted: February 13, 2015, 5:41 pm

Crude oil prices on the New York market jumped by more than $2/bbl Feb. 12 to settle above $51/bbl, which analysts attributed to more oil and gas companies cutting their budgets as well as an announced ceasefire agreement between Russia separatists and Ukrainian forces.

Posted: February 13, 2015, 4:29 pm

Apache Corp., Houston, plans a capital budget of $3.6-4 billion in 2015, with $2.1-2.3 billion directed toward onshore North America and $1.5-1.7 billion for international and offshore.

Posted: February 12, 2015, 9:17 pm

A series of draft environmental and socioeconomic reports for the Alaska LNG project have been submitted to the US Federal Energy Regulatory Commission, which is responsible for conducting the environmental review of the project.

Posted: February 12, 2015, 6:44 pm

Total SA plans to lower its organic investments to $23-24 billion in 2015 from $26.4 billion in 2014 by reducing spending in brownfield developments and stopping certain projects that it says have become less profitable.

Posted: February 12, 2015, 6:30 pm

The New York Mercantile Exchange March crude oil contract dropped $1.18 on Feb. 11, closing at $48.84/bbl. The April contract dropped $1.15 to $50.93/bbl.

Posted: February 12, 2015, 6:28 pm

The US House of Representatives voted by 270 to 152 to pass S. 1, which would deem the proposed Keystone XL crude oil pipeline approved more than 6 years after sponsor TransCanada Corp. applied for its presidential crossborder permit. The Feb. 11 action sends the measure to US President Barack Obama’s desk, where it is likely to be vetoed.

Posted: February 12, 2015, 6:10 pm

The Western Energy Alliance, West Slope Colorado Oil & Gas Association, and Public Lands Advocacy jointly filed a formal objection to the US Forest Service’s draft oil and gas leasing decision for the White River National Forest in western Colorado.

Posted: February 12, 2015, 5:14 pm

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