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Light sweet crude prices on the New York market gained to settle at $64/bbl on Apr. 18, marking the second time in 3 days that the benchmark has reached or broken above that level.

Posted: April 19, 2019, 1:58 pm

The US drilling rig count dropped 10 units to reach 1,012 rigs working for the week ended Apr. 18, according to Baker Hughes data. The count is down 1 unit from the 1,013 rigs working this time a year ago.

Posted: April 18, 2019, 5:21 pm

Chrysaor E&P Ltd. has agreed to purchase the United Kingdom oil and gas business of ConocoPhillips for $2.675 billion, increasing Chrysaor’s pro forma 2018 production to 177,000 boe/d to become one of the largest oil and gas producers in the UK North Sea.

Posted: April 18, 2019, 4:13 pm

Light sweet crude prices on the New York market and Brent crude prices on the London market both fell to settle lower Apr. 17 despite the US Energy Information Administration’s weekly inventory report that showed the first weekly decline in US crude supplies in a month.

Posted: April 18, 2019, 3:04 pm

The Canadian Association of Petroleum Producers greeted the United Conservative Party’s Apr. 16 election victory in Alberta by saying it is “encouraged by Premier-elect Jason Kenney’s commitment to the oil and natural gas industry.”

Posted: April 18, 2019, 2:37 pm

The proposed Gulf Liquefaction LNG Project would have some adverse environmental impacts which could be reduced to less-than-significant levels if recommended mitigation measures are implemented, the Federal Energy Regulatory Commission’s staff said on Apr. 17 in a final environmental impact statement.

Posted: April 17, 2019, 10:00 pm

Units of ExxonMobil Corp., Equinor, and Wintershall were among the companies that submitted winning bids in Argentina’s Apr. 16 licensing round—the first open bid round for Argentinean offshore acreage in more than 20 years—where 38 blocks were on offer, 18 of which were licensed.

Posted: April 17, 2019, 5:51 pm

Ajay Kumar Dixit has been named chief executive officer of Cairn Oil & Gas, part of Vedanta Ltd. based in Gurgaon, India. He succeeds Sudhir Mathur, who has left the company.

Posted: April 17, 2019, 5:13 pm

The US Department of Energy announced up to $39 million in federal funding for cost-shared research and development projects that aim to improve oil and natural gas technologies. Selected projects will fall under two DOE Office of Fossil Energy funding opportunity announcements, DOE said on Apr. 16.

Posted: April 17, 2019, 3:51 pm

The US Energy Information Administration forecasts crude oil production from seven major shale formations will climb 80,000 b/d in May to a record 8.46 million b/d, EIA said in its Monthly Drilling Productivity Report.

Posted: April 17, 2019, 3:41 pm

Colorado Gov. Jared Polis (D) signed S.B. 181, which imposes new restrictions on oil and gas activities in the state, into law on Apr. 16. The measure was designed to strengthen local governments’ authority over such operations, its sponsors said when they introduced it on Mar. 1.

Posted: April 17, 2019, 3:32 pm

US crude oil inventories for the week ended Apr. 12, excluding the Strategic Petroleum Reserve, decreased by 1.4 million bbl from the previous week, data from the US Energy Information Administration showed. At 455.2 million bbl, US crude oil inventories are 2% below the 5-year average for this time of year, the report indicated.

Posted: April 17, 2019, 3:05 pm

Brent crude oil prices on the London market gained more than 50¢ to settle at $71.72/bbl on Apr. 16 and continued rising Apr. 17 in early trading on concerns about tightening world oil supplies. Crude oil supplies have declined this year with US sanctions on Venezuela and Iran. Meanwhile, major producers, including Russia, also are holding back production.

Posted: April 17, 2019, 2:11 pm

Jones Energy Inc. has filed a prepackaged plan of reorganization under Chapter 11 of the US Bankruptcy Code designed to convert to equity all its funded debt. The company said the plan will enable it to maintain operations as usual.

Posted: April 16, 2019, 6:01 pm

Concho Resources Inc. and Frontier Midstream Solutions IV LLC have agreed to form Beta Crude Connector LLC (BCC) to build and provide crude oil gathering, transportation, and storage services in the northern Midland basin. Frontier will serve as operator. Each company will own equal equity interest.

Posted: April 16, 2019, 3:22 pm

Lower fossil fuel releases are continuing to help drive US greenhouse gas emissions lower, the US Environmental Protection Agency’s latest annual report showed. EPA said 2017’s GHG emissions totaled 6,456.7 million tonnes of carbon dioxide equivalent (tCO2e), or 5,742.6 million tCO2e after accounting for land sequestration.

Posted: April 16, 2019, 3:04 pm

Brent crude oil dropped modestly on the London market Apr. 15 but still settled above $71/bbl following reports of lower Venezuelan and Iranian exports because of US sanctions. Renewed civil unrest in Libya also raised oil supply concerns. Khalifa Haftar’s Libyan National Army continues fighting forces backed by the internationally recognized Libyan government.

Posted: April 16, 2019, 2:17 pm

The Ukrainian government has launched a public tender for the Dolphin offshore block under a production-sharing agreement, covering 9,496 sq km of the northwestern part of the Black Sea’s continental shelf.

Posted: April 15, 2019, 8:39 pm

The American Petroleum Institute and American Fuel & Petrochemical Manufacturers separately criticized US Senate legislation that would expand to 200,000 the number of electric and hydrogen fuel cell vehicles eligible for a $7,500 federal tax credit. Sen. Deborah A. Stabenow (D-Mich.) introduced S. 1094 on Apr. 9, with Rep. Dan Kildee (D-Mich.) introducing a companion bill in the US House the same day.

Posted: April 15, 2019, 5:36 pm

Joseph A. Mills has been appointed executive chairman of Roan Resources Inc. and has assumed the duties of principal executive officer on an interim basis following the resignation of Tony Maranto as chairman, chief executive officer, and president, for personal reasons.

Posted: April 15, 2019, 5:22 pm

Marathon Petroleum Corp., through subsidiaries including Speedway LLC, agreed to acquire a 900,000-bbl capacity light product and asphalt terminal and 33 NOCO Express retail outlets in Buffalo, NY, from NOCO Inc., building on prior investments to “maximize refinery utilization,” the company said.

Posted: April 15, 2019, 3:51 pm

Aramco Overseas Co. BV, a subsidiary of Saudi Aramco, will purchase a 17% stake in South Korean refiner Hyundai Oilbank, supporting Aramco’s oil placement strategy by providing a dedicated outlet for Arabian crude to South Korea.

Posted: April 15, 2019, 3:38 pm

Light, sweet crude oil prices gained moderately on Apr. 12 to settle at nearly $63.90/bbl for the May contract while Brent for June gained on the London market to settle above $71/bbl. US natural gas futures prices edged down on Apr. 12 following the Apr. 11 release of the US Energy Information Administration’s Weekly Natural Gas Storage Report, which showed a build in underground gas storage across the Lower 48.

Posted: April 15, 2019, 2:32 pm

The US drilling rig count dropped 3 units to reach 1,022 rigs working for the week ended Apr. 12, according to Baker Hughes data. The count is up 14 units from the 1,008 rigs working this time a year ago.

Posted: April 12, 2019, 9:19 pm

Chevron Corp. has agreed to buy Anadarko Petroleum Corp. in a cash and stock deal that values Anadarko at $50 billion and creates growth opportunities for Chevron in areas that play to its operational strengths.

Posted: April 12, 2019, 5:27 pm

The Federal Reserve Bank of Kansas City’s first-quarter Energy Survey revealed that energy activity in the Tenth District was essentially flat, but the outlook for future activity rose moderately. Firms reported that oil prices needed to average $52/bbl for drilling to be profitable, down slightly from 6 months ago and below both current and expected prices.

Posted: April 12, 2019, 4:19 pm

Light, sweet crude oil prices fell just over $1/bbl on the New York market and Brent crude oil prices fell almost as much in London as US crude stockpiles reach high levels not seen in almost 17 months. US crude oil inventories for the week ended Apr. 5 increased by 7 million bbl from the previous week to reach 456.5 million bbl, data from the US Energy Information Administration showed.

Posted: April 12, 2019, 3:51 pm

Russian crude exports will reach a multiyear high of 5.7 million b/d in April, 400,000 b/d higher than average exports in the previous 5 months, according to a market alert released by ESAI Energy. As the past few years’ fluctuations in Russian exports have shown, uncommonly high exports are accompanied by greater flows of Russian crude into Asia.

Posted: April 12, 2019, 3:20 pm

Most US voters prefer a national energy strategy that recognizes and improves technologies that already have contributed to the country’s emissions reductions in the last 10 years to policies that are centered on expanded government regulation, a survey commissioned by the US Chamber of Commerce’s Global Energy Institute found.

Posted: April 12, 2019, 2:55 pm

The US Senate confirmed David L. Bernhardt’s nomination to be secretary of the Interior in a bipartisan 56-41 vote. Bernhardt, who has been both acting and deputy Interior secretary, answered environmental and other groups’ assertions that he would cater to oil and gas interests that were clients when he was in the private sector with a pledge to remain committed to the highest ethics possible.

Posted: April 11, 2019, 8:22 pm

Delek Group agreed to acquire 22.45% interest in Caesar Tonga oil field in the Green Canyon area of the deepwater Gulf of Mexico from Shell Offshore Inc. for $965 million, having paid a $50-million deposit, and will sign a long-term off-take agreement with Shell Trading (US) Co. to purchase oil from the field for 30 years.

Posted: April 11, 2019, 5:58 pm

The global oil market shows signs of tightening into this year’s second quarter, mainly because of a decline in supply. However, there are mixed signals in terms of the outlook for demand and whether stock levels are yet “normal,” the International Energy Agency said in its latest Oil Market Report.

Posted: April 11, 2019, 5:22 pm

US Congressional Republicans reintroduced legislation aimed at simplifying and streamlining the federal process for authorizing exports of LNG on Apr. 10. The Senate measure, which Sen. Bill Cassidy (La.) sponsored with John N. Kennedy (La.) and Shelley Moore Capito (W.Va.) as cosponsors, would terminate existing prohibitions on both exports and imports of gas. As would the bill Rep. Clay Higgins (La.) introduced in the House.

Posted: April 11, 2019, 5:05 pm

US light, sweet crude oil prices were up Apr. 10 on the New York market, with both the May and June contracts settling above $64/bbl following a steep drop in gasoline stocks as reported by the US Energy Information Administration. While crude inventories for the week ended Apr. 5 were up by 7 million bbl from the previous week, news of a gasoline inventories drawdown of 7.7 million bbl—the largest since September 2017—was in sharp contrast to analysts’ expectations of a drop closer to 2 million bbl.

Posted: April 11, 2019, 4:07 pm

US President Donald Trump issued executive orders aimed at speeding the permitting process for oil and gas pipelines and other energy projects. “Too often badly needed energy infrastructure is being held back by special interest groups, entrenched bureaucracies, and radical activists,” the president said during an appearance in Crosby, Tex.

Posted: April 11, 2019, 3:14 pm

US crude oil inventories for the week ended Apr. 5, excluding the Strategic Petroleum Reserve, increased by 7 million bbl from the previous week, data from the US Energy Information Administration showed.

Posted: April 11, 2019, 2:49 pm

Trillion Energy International Inc. is the new name of Park Place Energy Inc., Vancouver, BC.

Posted: April 11, 2019, 2:21 pm

Legislation introduced in the 116th US Congress would give the federal government authority to prosecute members of the Organization of Petroleum Exporting Countries for violating US antitrust laws, speakers at an Apr. 10 Washington event generally agreed. But they were less certain about whether it would actually take place.

Posted: April 10, 2019, 8:15 pm

Crestwood Niobrara has secured operatorship of Jackalope Gas Gathering Services—aligning field operations, project management, and commercial efforts—with a $485-million deal to acquire Williams Cos. Inc.’s 50% interest in the Powder River basin joint venture.

Posted: April 10, 2019, 5:07 pm

David Sturt has become president of PetroNeft Resources, replacing Karl Johnson, vice-president of operations, who became interim CEO last year after a retirement.

Posted: April 10, 2019, 4:53 pm

Sergei Krylov, executive vice-president and chief financial officer of Approach Resources Inc., Fort Worth, has been named chief executive officer. Krylov succeeds J. Ross Craft who has resigned as chairman and chief executive officer. Krylov will retain his duties as chief financial officer.

Posted: April 10, 2019, 2:59 pm

US light, sweet crude oil prices declined moderately Apr. 9 on the New York market, but the May and June contracts still settled above $63/bbl. Brent crude oil for June also dropped modestly in London but again settled above $70/bbl for a third consecutive session.

Posted: April 10, 2019, 2:44 pm

Due to a slightly tighter global oil market, the US Energy Information Administration, in its latest Short-Term Energy outlook, forecasts Brent spot prices to average $65/bbl in 2019, up $2/bbl from last month’s STEO forecast, and $62/bbl in 2020. These compare with an average of $71/bbl in 2018.

Posted: April 9, 2019, 6:56 pm

US Sen. Edward J. Markey (D-Mass.) introduced a bill on Apr. 8 that would require the use of professional engineers to approve local natural gas delivery system changes and on-site monitoring of pressure regulation stations so that qualified employees could quickly shut off gas flow in an emergency. Rep. Lori Trahan (D-Mass.) introduced a similar measure, HR 2139, in the US House the same day.

Posted: April 9, 2019, 4:31 pm

The number of incidents affecting people has decreased 20% as the total of US mileage and deliveries has increased more than 10% in the last 5 years, the American Petroleum Institute and the Association for Oil Pipelines jointly said in their 2019 Liquids Pipeline Performance Report on Apr. 8.

Posted: April 9, 2019, 4:01 pm

US light, sweet crude oil future prices for May and June rose by more than $1/bbl Apr. 8 on the New York market with Brent crude for June delivery closing in London above $71/bbl on Apr. 9. Analysts said oil prices were supported by unrest in Libya.

Posted: April 9, 2019, 3:34 pm
Energy business activity grew modestly in this year’s first quarter, according to oil and gas executives responding to the Dallas Fed Quarterly Energy Survey.
Posted: April 9, 2019, 4:42 am
The world’s publicly listed oil and gas exploration and production companies are bringing in cash at the best rate ever witnessed, even though oil prices have only partially recovered from the huge drop suffered in 2014 and 2015, according to Rystad Energy.
Posted: April 9, 2019, 4:35 am
US President Donald Trump overstepped his authority when he canceled his immediate predecessor’s withdrawals of three federal offshore areas from oil and gas leasing consideration toward the end of his second term, a federal court judge in Alaska ruled on Mar. 29.
Posted: April 9, 2019, 4:04 am
Arrival in Venezuela late last month of 100 or so Russian military personnel elicited tough talk from the administration of US president Donald Trump. “Russia’s got to leave Venezuela,” declared Sec. of State Mike Pompeo.
Posted: April 9, 2019, 3:54 am
Oil and gas companies are hunting the proverbial elephant again. Some of them are, at any rate.
Posted: April 9, 2019, 3:52 am

Five signs that the offshore oil and gas industry is recovering are starting to become clearer, with 2019 seen as a transition year and with offshore embarking on a multiyear trajectory starting in 2020. These were among the findings in a recent research report from Barclays.

Posted: April 8, 2019, 9:26 pm

ASTM International released a new standard aimed at improving both cleanup of and contingency planning for crude oil spills on Apr. 8. The new guide standardizes the way laboratories both prepare and measure “weathered oil,” which is naturally different from the “source oil” at a facility, ASTM International member Merv Fingas said.

Posted: April 8, 2019, 5:32 pm

US House Democrats have called for speedier implementation of mandates in the 2011 and 2016 reauthorizations of the federal oil and gas and hazardous materials pipeline safety law. “It’s simply unacceptable that safety-critical rules passed by Congress 8 years ago are lingering somewhere,” House Transportation and Infrastructure Committee Chairman Peter A. DeFazio (Ore.) said at the Railroads, Pipelines, and Hazardous Materials Subcommittee’s Apr. 2 hearing.

Posted: April 8, 2019, 4:07 pm

Bill Higgs has been named chief executive officer and member of the board of Genel Energy PLC. Higgs has been chief operating officer since October 2017. He earlier was COO of Ophir Energy PLC and CEO of Mediterranean Oil & Gas after working 23 years at Chevron Corp.

Posted: April 8, 2019, 3:45 pm

US light, sweet crude oil future prices for the week ended Apr. 5 closed above $63/bbl on the New York market while Brent crude oil for June delivery settled above $70/bbl in London that day. With this latest settlement, Brent breaks a psychological threshold, which analysts believe will encourage more oil investment. The oil price rally comes as the US summer driving season approaches and with it, rising fuel demand.

Posted: April 8, 2019, 2:58 pm

Funds affiliated with The Carlyle Group will acquire 30-40% of the Spanish integrated oil, gas, and chemical company Cepsa from sole shareholder Mubadalla Investment Co. of Abu Dhabi. In a statement, the companies said the deal is “based on an enterprise value of $12 billion.”

Posted: April 8, 2019, 2:40 pm
As oil pipelines come online in the Permian basin, will the bottleneck depressing wellhead prices just move to Gulf Coast export terminals? No, according to a Mar. 29 research note from Cowen Equity Research.
Posted: April 8, 2019, 5:15 am
Calling the Green New Deal to an early vote a day earlier showed that Democrats were not ready to go on record supporting the idea, US Senate Majority Leader Mitch McConnell (R-Ky.) said in a Mar. 27 floor speech. Forty-three Senate Democrats and Independent Bernard Sanders (Vt.) called the balloting a sham and voted “present” instead, causing it to fail 57-0.
Posted: April 8, 2019, 5:12 am
The US Environmental Protection Agency’s proposal to allow gasoline with a 15% ethanol blend to be sold year-round would be a mistake if it was implemented, an American Petroleum Institute official testified on Mar. 29.
Posted: April 8, 2019, 5:06 am

The US drilling rig count climbed 19 units to reach 1,025 rigs working for the week ended Apr. 5, according to Baker Hughes data. The count is up 22 units from the 1,003 rigs working this time a year ago.

Posted: April 5, 2019, 5:26 pm

Eni SPA and Fiat Chrysler Automobiles (FCA) are developing a high-alcohol vehicle fuel that they say can lower exhaust emissions of carbon dioxide by up to 3% under Worldwide Harmonized Light Vehicle Test Procedures.

Posted: April 5, 2019, 5:11 pm

Light, sweet crude oil prices fell slightly on the New York market Apr. 4 to settle above $62/bbl but rose in early trading Apr. 5 after the US Department of Labor reported the US economy added 196,000 jobs in March.

Posted: April 5, 2019, 4:07 pm

Colorado’s Senate sent a reworked SB 181 with House amendments to Gov. Jared Polis (D) for his signature on Apr. 3 by a 19-16 vote. Officials from the Colorado Oil & Gas Association and the Colorado Petroleum Council jointly said that they continue to oppose the measure despite some improvements in it.

Posted: April 5, 2019, 3:08 pm

The Canada-Newfoundland and Labrador Offshore Petroleum Board has issued a call for bids for exploration licenses in two offshore areas.

Posted: April 4, 2019, 4:42 pm

Idemitsu Kosan has completed its long-planned takeover of Japanese refiner and marketer Showa Shell Sekiyu. The consolidation was finalized on Apr. 1, Idemitsu Kosan said. Under the business integration plan, Showa Shell Sekiyu has become a wholly owned subsidiary of Idemitsu Kosan.

Posted: April 4, 2019, 3:23 pm

As oil prices approach $70/bbl, Rystad Energy expects that a short-lived price rally through the first half of 2020 will then lose momentum and be replaced by a need for additional production cuts by the Organization of Petroleum Exporting Countries and Russia (OPEC+).

Posted: April 4, 2019, 3:18 pm

Pin Oak Energy Partners LLC has acquired 43,000 acres prospective for Utica shale development in northwestern Pennsylvania from SWEPI LP, a wholly owned Shell subsidiary.

Posted: April 4, 2019, 2:55 pm

Light, sweet crude oil prices fell slightly on the New York market Apr. 3 as did Brent crude for June in London. Prices remained close to 2019 highs despite an increase in crude inventories as cuts by members of the Organization of Petroleum Exporting Countries as well as US sanctions keep the supply and demand forecast tight.

Posted: April 4, 2019, 2:50 pm

US crude oil inventories for the week ended Mar. 29, excluding the Strategic Petroleum Reserve, jumped 7.2 million bbl from the previous week, data from the US Energy Information Administration showed. At 449.5 million bbl, US crude oil inventories are at the 5-year average for this time of year, the report indicated.

Posted: April 3, 2019, 3:55 pm

Preserving coastal US states and communities’ vibrant recreation and commercial fishing economies is more important than increasing US offshore oil and gas exploration and development, sponsors of three bills and witnesses told a House Natural Resources Committee subcommittee on Apr. 2.

Posted: April 3, 2019, 3:47 pm

Light, sweet crude oil prices on the New York market gained on Apr. 2, with both May and June contracts closing close to $1/bbl higher. Brent prices in London also rose for June and July contracts. The increases mark record 2019 highs for the second day in a row as concerns continue over cuts by members of the Organization of Petroleum Exporting Countries as well as Venezuelan disruptions.

Posted: April 3, 2019, 2:55 pm

Global LNG trade occurred at record volumes for the fifth consecutive year, reaching 316.6 million tonnes, according to the International Gas Union’s (IGU) 2019 World LNG Report. This marks an increase of 28.2 million tonnes (9.8%), from 2017, the third-largest annual increase ever behind only 2010 and 2017.

Posted: April 2, 2019, 6:41 pm

The world’s publicly listed oil and gas exploration and production companies are bringing in cash at the best rate ever witnessed, even though oil prices have only partially recovered from the huge drop suffered in 2014 and 2015, according to Rystad Energy.

Posted: April 2, 2019, 5:18 pm

Light, sweet crude oil prices on the New York market gained on Apr. 1 to settle more than $1/bbl higher with both May and June contracts closing above $61/bbl. Brent prices in London also rose by more than $1/bbl for June and July. The Brent contract for June delivery closed above $69/bbl, marking Brent’s highest close since Nov. 12, 2018.

Posted: April 2, 2019, 3:32 pm
PTT Exploration & Production PCL (PTTEP) has won two exploration blocks in Malaysia while acquiring Murphy Oil Corp.’s properties in the country.
Posted: April 2, 2019, 1:20 am
Equinor reported “the heaviest lift ever performed offshore” at Johan Sverdrup oil field under development in the Norwegian North Sea.
Posted: April 2, 2019, 1:16 am
The California Air Resources Board (CARB) released a report on Mar. 20 that recommends improved routine and emergency air monitoring at major refineries and in nearby communities in the state.
Posted: April 2, 2019, 1:07 am
A federal judge ruled that the US Bureau of Land Management did not adequately consider potential climate impacts when it issued oil and gas leases in Wyoming in 2015 and 2016, remanded the leases to the US Department of the Interior agency, and ordered it to conduct further studies.
Posted: April 2, 2019, 1:04 am
Feverish, centrally managed energy transition works against itself. The dash for energy-related response to climate change has slowed, and political resistance where it has occurred makes reacceleration doubtful. US lawmakers posturing over the Green New Deal should pay attention.
Posted: April 2, 2019, 12:52 am

President Donald J. Trump overstepped his authority when he canceled his immediate predecessor’s withdrawals of three federal offshore areas from oil and gas leasing consideration toward the end of his second term, a federal court judge in Alaska ruled on Mar. 29.

Posted: April 1, 2019, 4:45 pm

Daniel Fitzgerald has been promoted to chief operating officer of International Petroleum Corp., Vancouver, BC.

Posted: April 1, 2019, 2:08 pm

Light, sweet crude oil prices on the New York market increased to end the week of Mar. 29 with a settlement back above $60/bbl after Reuters reported Russia was growing uneasy with existing production cut levels.

Posted: April 1, 2019, 2:01 pm
Recognizing that global climate change and other environmental issues should be addressed, a San Diego organization suggests that it might be time to ask an entirely different question: Where would the US economy and standard of living be now without the benefits fossil fuels have provided?
Posted: April 1, 2019, 9:08 am
The Canadian government, along with some provincial governments, have set policies to cut methane emissions from 40-45% of baseline value by the year 2025.
Posted: April 1, 2019, 8:41 am
Mexico’s Tampico-Misantla super basin, which includes Chicontepec, is well known geologically but its remaining oil and natural gas potential has yet to be properly evaluated, a former executive vice-president of Petroleos Mexicanos (Pemex) told an American Association of Petroleum Geologists (AAPG) meeting.
Posted: April 1, 2019, 8:13 am

President Donald J. Trump issued an updated presidential permit for the proposed Keystone XL crude oil pipeline on Mar. 29. The move was seen as an attempt to jump-start the project’s construction after a federal judge in Montana blocked it in November and ordered further environmental reviews.

Posted: March 29, 2019, 10:20 pm

The US Environmental Protection Agency’s proposal to allow gasoline with a 15% ethanol blend to be sold year-round would be a mistake if it was implemented, an American Petroleum Institute official testified on Mar. 29. 

Posted: March 29, 2019, 7:40 pm

Officials of state-owned Gazprom and the government of Kyrgyzstan have signed what they describe as a “roadmap” for the Russian company’s acquisition of the assets of Kyrgyzneftegaz.

Posted: March 29, 2019, 5:50 pm

The US drilling rig count is down 10 units to 1,006 rigs working for the week ended Mar. 29, according to Baker Hughes data. The count is up 13 units from the 993 rigs working this time a year ago.

Posted: March 29, 2019, 5:21 pm

Light, sweet crude oil prices fell slightly on the New York market Mar. 28 and Brent crude oil for May nudged down by only a penny on the London market while investors watched for more definite indicators regarding future oil supply and demand worldwide.

Posted: March 29, 2019, 3:34 pm

Acting US Interior Sec. David Bernhardt answered environmental and other groups’ assertions that he would cater to oil and gas interests which were clients when he was in the private sector with a pledge to remain committed to the highest ethics possible if the full US Senate confirms his nomination as secretary.

Posted: March 28, 2019, 8:22 pm

Light, sweet crude oil prices fell modestly Mar. 27 to settle under $60/bbl after the US Energy Information Administration reported a build in crude oil supplies. 

Posted: March 28, 2019, 4:30 pm

Energy sector activity grew modestly in first quarter 2019, according to oil and gas executives responding to the Dallas Fed Quarterly Energy Survey.

Posted: March 28, 2019, 3:06 pm

The Australian government has announced there will be increased transparency for all environmental plans for offshore oil and gas activities. All plans will be published, and draft environment plans for offshore seismic and exploration drilling activities will be open for public comment under changes to environmental regulations.

Posted: March 28, 2019, 1:21 pm

Saudi Aramco and Saudi Basic Industries Corp., already partners in the development of technology to produce chemicals directly from crude oil, will merge. Aramco signed an agreement under study since last year to buy 70% of the chemical manufacturer from the Public Investment Fund of Saudi Arabia. The private transaction is worth $69.1 billion. Aramco said it has no plans to acquire the remaining 30% of SABIC shares, which are publicly traded.

Posted: March 27, 2019, 6:41 pm

Increasing the octane standard for gasoline sold in the US would improve overall motor vehicle fuel efficiency more effectively than simply waiting for electric and other alternative-fueled cars and trucks to gain a substantial market share, two reports issued by the Alexandria, Va.-based Fuels Institute argued on Mar. 27.

Posted: March 27, 2019, 5:59 pm

US Sen. Lamar Alexander (R-Tenn.) proposed what he termed “one Republican’s response to climate change: a New Manhattan Project for Clean Energy.” His plan would double federal funding for energy research and natural gas, carbon capture, and eight other “grand challenges” over the next 5 years to create new sources of cheap, clean energy, he said in a Mar. 25 Senate floor address.

Posted: March 27, 2019, 5:46 pm
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