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Articles Posted by thackney

Brevity: Headers | « Text »
  • New maps highlight geologic characteristics of U.S. tight oil, shale plays

    04/17/2015 5:25:39 AM PDT · by thackney · 15 replies
    Energy Information Administration ^ | APRIL 17, 2015 | Energy Information Administration
    EIA is currently in the process of updating maps of major tight oil and shale gas plays, including the Eagle Ford and Marcellus plays, which will help to better characterize the geology of key areas of production in the United States. EIA's most recent maps focus on shale and tight oil plays, and characterize plays based on geologic characteristics, including rock type and age. Understanding geologic history and processes helps exploration and production companies reduce the risk of drilling dry, nonproducing wells and better understand hydrocarbon resource potentials. Production of crude oil and natural gas occurs in two classes of...
  • Natural gas industry lobbyists ask feds to put LNG projects on fast track

    04/17/2015 5:21:13 AM PDT · by thackney · 1 replies
    Fuel Fix ^ | April 16, 2015 | Rhiannon Meyers
    The U.S. should speed up its approval process for new liquefied gas export terminals if it wants to remain competitive against other countries eagerly preparing to supply the world with gas, a natural gas trade association argued Thursday. America’s Natural Gas Alliance on Tuesday called on the federal government to revamp its lengthy and expensive permitting process for projects aimed at exporting supercooled gas to foreign markets, arguing that such exports are in the country’s national interest. “The time is now for the U.S. to seize the day,” alliance President and CEO Marty Durbin said in a conference call with...
  • AP: Offshore wells buried during Hurricane Ivan have been leaking oil into the Gulf since 2004

    04/17/2015 5:19:20 AM PDT · by thackney · 11 replies
    Fuel Fix ^ | April 16, 2015 | Associated Press
    Full title: AP: Offshore wells buried during Hurricane Ivan have been leaking oil into the Gulf since 2004 Down to just one full-time employee, Taylor Energy Company exists for only one reason: to fight an oil leak in the Gulf of Mexico that has gone largely unnoticed, despite creating miles-long slicks for more than a decade. The New Orleans-based company has downplayed the leak’s environmental impact, likening it to scores of minor spills and natural seeps that the Gulf routinely absorbs. But an Associated Press investigation has revealed evidence that the spill is far worse than what Taylor — or...
  • Shell exec: U.S. risks losing drilling dollars to Brazil, Canada and Mexico

    04/16/2015 5:14:34 AM PDT · by thackney · 1 replies
    Fuel Fix ^ | April 15, 2015 | Jennifer A. Dlouhy
    The Obama administration is eyeing an auction of offshore oil drilling leases along the East Coast in 2021, but that’s not enough to keep the United States competitive with other Atlantic nations, a Shell executive told Congress on Wednesday. “The Gulf of Mexico has kept the United States globally competitive for decades,” Mark Shuster, Shell’s executive vice president of upstream Americas exploration, told a House Natural Resources subcommittee. “The U.S. stands to lose a lot if we don’t make new acreage available.” At issue is the Interior Department’s draft plan for selling oil and gas leases on the U.S. outer...
  • Rosneft breaks world record for longest well off Sakhalin Islands

    04/15/2015 6:21:27 AM PDT · by thackney · 37 replies
    Petro Global News ^ | April 14, 2015 | Nicolas Torres
    Rosneft broke another world record Tuesday after drilling the world’s longest well at the Chayvo field off the coast of Russia’s Sakhalin Island. The O-14 production well was drilled to a record breaking depth of 44,291 feet with a horizontal reach of 39,478 feet. The well is part of the Sakhalin-1 project that includes the offshore Chayvo, Odoptu and Arkutun-Dagi fields. Since the start of drilling at Sakhalin-1 the company has broken nine world records including setting two consecutive records for measured depth in 2013. Russia’s Rosneft said the extended reach drilling was among the fastest ever thanks to ExxonMobil’s...
  • Industry Not Expected To Fight Live Offshore Viewing

    04/15/2015 5:07:03 AM PDT · by thackney · 3 replies
    Rig Zone ^ | April 14, 2015 | Deon Daugherty
    Access to images perhaps similar to those that captivated viewers in real time around the world during the Deepwater Horizon disaster would be standard procedure under a new set of proposed federal offshore guidelines. These include the live monitoring of deepwater and high-temperature/high pressure drilling activities, similar to what is currently used onshore. “The real-time monitoring requirement ensures that the operator has access to onshore technical expertise if needed and that there is ‘another set of eyes’ available during critical operations,” according to the statement. Houston personal injury lawyer Charles Herd, a partner at The Lanier Law Firm, which represented...
  • The Real History Of Fracking

    04/14/2015 7:52:53 AM PDT · by thackney · 6 replies
    Oil Price ^ | 13 April 2015 | John Manfreda
    ...While there are a lot of myths that surround this technology...the biggest one myth, is that, it’s new technology. The History of Fracking can be traced back to 1862. It was during the battle of Fredericksburg VA., where civil war veteran Col. Edward A.L. Roberts saw what could be accomplished when firing explosive artillery into a narrow canal that obstructed the battlefield. This was described as superincumbent fluid tamping. On April 26th, 1865, Edward Roberts received his first patent, for an “Improvement” in exploding torpedoes in artesian wells. In November of 1866, Edward Roberts was awarded patient number 59,936, known...
  • Shale boom to start busting as U.S. output set to fall

    04/14/2015 5:33:27 AM PDT · by thackney · 37 replies
    Fuel Fix ^ | April 13, 2015 | Collin Eaton
    The shale oil bonanza that made millionaires from Texas to North Dakota is slowing down for the first time in years, a sign that painful industry cutbacks are starting to have an impact. The nation’s oil production is set to slip this month by 57,000 barrels a day as natural declines in older shale wells outpace gains from newly drilled wells, the U.S. Energy Information Administration said in its monthly drilling report on Monday. More than 70,000 barrels of oil a day are expected to be lost from April to May in North Dakota’s Bakken Shale, South Texas’ Eagle Ford...
  • Japan Defies Obama — Plans On Building 43 Coal Plants

    04/13/2015 6:17:21 AM PDT · by thackney · 36 replies
    The Daily Caller ^ | 04/09/2015 | MICHAEL BASTASCH
    As Japan promises the United Nations it will cut carbon dioxide emissions, the country simultaneously plans on building 43 coal-fired power projects to make up for shuttered nuclear power. Japan told the reporters it would cut carbon dioxide emissions 20 percent below 2013 levels by 2030, reports AFP. It joined a U.S.-led effort to build support for a global warming treaty to be approved this December in Paris. It’s an issue President Barack Obama has staked his legacy on, and is using whatever diplomatic tactics he can to get other countries to join him. So far, only 35 parties (when...
  • U.S. oil rig count down 42 as industry’s slowdown accelerates

    04/13/2015 5:14:59 AM PDT · by thackney · 24 replies
    Fuel Fix ^ | April 10, 2015 | Ryan Holeywell
    The U.S. energy industry dramatically increased the pace at which it’s slowing activity, laying down 42 oil rigs this week after several weeks of more conservative numbers. There are 760 oil rigs operating in the U.S. currently, down from 802 last week, according to data published Friday by oil field services company Baker Hughes. The decline was the largest one-week drop in the count in a month. Last week, the oil rig count fell by just 11, and the week before it was down by 12. Those were the smallest week-over-week declines in 2015 and may have suggested the oil...
  • IHS: 1,400 wells drilled but not completed in Eagle Ford Shale

    04/13/2015 5:12:21 AM PDT · by thackney · 18 replies
    Fuel Fix ^ | April 13, 2015 | Jennifer Hiller
    There are nearly 1,400 wells in the Eagle Ford Shale that have been drilled but not completed, according to new analysis from the firm IHS. Oil prices are hovering around $50 per barrel, down by half since last summer. And some Eagle Ford oil producers have been drilling but not fracking wells. The delay in completing wells avoids sending new barrels of oil into a cheap market. For a small handful of operators, IHS reports that the drilled-but-not-completed wells will give them a big advantage over competitors. Nearly 40 percent of those 1,400 delayed wells have a break-even costs below...
  • Six natural gas plants under construction in Ohio to replace coal generators

    04/11/2015 9:59:23 AM PDT · by thackney · 52 replies
    Utility Dive ^ | April 10, 201 | Robert Walton
    Ohio's energy mix is about to change, the Cleveland Plain Dealer points out, with six gas-fired plants on the drawing board and older coal-fired generation set to retire. The accelerated retirement of many coal plants is a nationwide trend, driven by low natural gas prices and EPA pollution regulations. About 60,000 MW of coal fired generators are expected to be offline by 2020, according to the EIA, due largely to the EPA's Mercury and Air Toxics Standards (MATS), and, once it is finalized, the carbon regulations under the Clean Power Plan. The state is also wrestling with energy efficiency standards,...
  • BP & Noble Energy Chosen To Replenish The US SPR

    04/10/2015 10:25:31 AM PDT · by thackney · 8 replies
    Oil Pro ^ | 4/10/2015 | Jeff Reed
    he US Department of Energy announced Thursday afternoon that it has awarded contracts for the delivery of crude oil to the Strategic Petroleum Reserve (SPR) to BP and Noble Energy so as to replenish oil it sold last year (see below). With a capacity of 727 million barrels, the SPR is the largest stockpile of government-owned emergency crude oil in the world. Together, the SPR crude oil and facilities represent a $26 billion investment in energy security ($21 billion for crude oil and $5 billion for facilities). Founded in the wake of the 1973-74 oil embargo, the SPR provides the...
  • OPEC's No-Cut Strategy is Not Working, Iran Says

    04/10/2015 10:11:49 AM PDT · by thackney · 28 replies
    Reuters via Rig Zone ^ | April 10, 2015 | Chen Aizhu & Adam Rose
    OPEC's strategy of holding output steady is not working and the group's members should discuss production levels before its next meeting in June, Iran's oil minister said, a sign of the pain lower prices are causing OPEC's less wealthy producers. However, Bijan Zanganeh also told Reuters it was up to other members of the Organization of the Petroleum Exporting Countries (OPEC) to make way for any extra Iranian crude that reaches world markets if Western sanctions on Tehran are lifted. Oil prices have halved from the $115-a-barrel level hit last June, in a drop that deepened after OPEC refused to...
  • EnCap raises $6.5 billion to pour into North American oil firms

    04/10/2015 9:54:03 AM PDT · by thackney · 2 replies
    Fuel Fix ^ | April 10, 2015 | Collin Eaton
    Private equity firm EnCap Investments has closed its tenth energy fund with $6.5 billion to back North American oil and gas producers, the latest firm to collect billions to pump into the shale business. The Houston firm this week joined Blackrock, Walburg Pincus, Riverstone and others in raising more than $25 billion in recent months, according to data collected by Bloomberg, aimed at the battered oil industry after a nine-month slide in crude prices. Many investors see bargains in the business while assets are cheap and oil prices are low. EnCap said its Energy Capital Fund X was “significantly oversubscribed.”...
  • PULLING OFF THE LARGEST REFINERY MODERNIZATION IN BP HISTORY {just for the pics}

    04/10/2015 7:33:29 AM PDT · by thackney · 25 replies
    Mammoet ^ | 2015 | Mammoet
    The Whiting Refinery Modernization Project is the largest and most complex upgrading project in BP’s recent history. BP asked Mammoet to assist in the massive undertaking filled with logistical, constructional and meteorological challenges. Mammoet accepted the job, taking on the handling, management, transport and installation of a large number of components built in factories all over the U.S. For five years, Mammoet coordinated logistical activities on-and-off-site to safely complete the construction as efficiently as possible. Almost every processing unit in the refinery had to be modified to some degree. Carrying out the many individual jobs was relatively easy as compared...
  • Carly Fiorina: The Man-Made Water Shortage in California

    04/10/2015 5:12:06 AM PDT · by thackney · 60 replies
    Time ^ | April 7, 2015 | Carly Fiorina
    It comes down to this: Which do we think is more important, families or fish? ...With different policies over the last 20 years, all of this could have been avoided. Droughts are nothing new in California — the state has suffered from them for centuries. The difference now is that government policies are making it much worse. Despite the awareness around this issue, liberals continue to develop and promote policies which allow much of California’s rainfall to wash out to sea. Specifically, these policies have resulted in the diversion of more than 300 billion gallons of water away from farmers...
  • Texas leads nation in exports, thanks to petrochemicals and gasoline

    04/10/2015 4:53:30 AM PDT · by thackney · 8 replies
    Fuel Fix ^ | April 9, 2015 | Jennifer A. Dlouhy
    Texas refineries churning out gasoline and diesel — and selling the bounty overseas in record levels — helped make the Lone Star State an export leader in 2014, according to new government data. About a fifth of Texas’ $289 billion in exported goods last year were petroleum and coal products — about $59.1 billion worth — according to a report from the Commerce Department and U.S. Trade Representative. “Texas is leading the way,” Commerce Secretary Penny Pritzker told reporters on a conference call to discuss the report Thursday. “They support more than 1.1 million jobs through exports.” Other national leaders...
  • Wages for oil and gas workers are growing the slowest of any industry

    04/10/2015 4:50:05 AM PDT · by thackney · 8 replies
    Fuel Fix ^ | April 9, 2015 | Ryan Holeywell
    Falling oil prices and a slowdown in the energy sector have meant stagnant oil and gas wages, with workers in the Houston area taking the biggest hit, according to a new study. The oil and gas industry saw the lowest annual wage growth of any industry, just 0.8 percent based on first quarter figures analyzed by PayScale Inc., which tracks wage data. That number is in stark contrast from the historic wage growth of the industry. Since 2006, oil and gas workers have enjoyed a 19 percent increase in wages, the most of any industry. Houston’s wages also showed signs...
  • Iran Seeks to Mend Fences with Chinese Oil Firms to Get Projects Going

    04/09/2015 5:16:13 AM PDT · by thackney · 1 replies
    Reuters via Rig Zone ^ | April 09, 2015 | Chen Aizhu
    Iran hopes to resolve differences with Chinese energy companies on oil and gas projects in the Islamic republic, as Tehran wants to be ready to raise output quickly after a potential lifting of sanctions... The officials are in China this week to discuss Chinese investments in oil and gas developments in Iran, as well as oil sales, just days after world powers and the OPEC member reached a framework nuclear deal. The talks come ahead of a visit to Beijing by Iranian Oil Minister Bijan Zanganeh, his first since assuming his post two years ago. Iran, the world's fifth-largest oil...
  • Kemp: US Oil Production Is Probably Peaking Right Now

    04/08/2015 9:17:19 AM PDT · by thackney · 22 replies
    Reuters via Rig Zone ^ | April 08, 2015 | John Kemp
    ...Output will average 9.37 million barrels per day (bpd) in April and the same in May before falling to 9.33 million bpd in June and 9.04 million bpd by September, the EIA predicted in the April edition of its Short-Term Energy Outlook (STEO).... Production is forecast not to exceed this month's level for another 18 months. The EIA has cut its forecast for the end of 2016 by 230,000 bpd compared with three months ago... It is unlikely a halving of the rig count can be completely offset by greater target selectivity and other efficiency improvements such as employing only...
  • Tentative timetable set for project’s CPG approval {$1.2 billion project to run a power line}

    04/08/2015 7:23:49 AM PDT · by thackney · 1 replies
    Rutland Herald ^ | April 08, 2015 | Dan Colton
    A $1.2 billion project to run a power line from Canada to Ludlow may clear its final hurdle before the end of the year. Jeanne Elias, special counsel and case attorney to the Vermont Public Service Department, said she expects the Vermont Public Service Board to issue a Certificate of Public Good for the proposed New England Clean Power Link, or NECPL by December. The certificate would green-light a power line which would make its way through 150 miles of Vermont, much of it subterranean. Elias said the project’s tentative schedule forecasts construction commencing in 2017. She made the announcement...
  • Summer gasoline prices to be down more than $1 from last summer

    04/08/2015 6:55:11 AM PDT · by thackney · 19 replies
    Energy Information Administration ^ | APRIL 8, 2015 | Energy Information Administration
    U.S. drivers are projected to pay an average of $2.45/gallon (gal) for regular grade gasoline this summer (April through September), according to EIA's Short-Term Energy and Summer Fuels Outlook released yesterday. This year's projected average summer price is down from a $3.59/gal average during summer 2014. The lower retail price this summer reflects a significant drop in world crude oil prices from last summer. As the main input cost in the refining process, crude oil is the major driver of retail gasoline prices, and U.S. gasoline prices tend to follow prices of the international benchmark Brent crude. For summer 2015,...
  • Shell inks $70 billion deal as Big Oil gets even bigger

    04/08/2015 6:16:24 AM PDT · by thackney · 9 replies
    CNN Money ^ | April 8, 2015 | CNN Money
    The latest example is Royal Dutch Shell's bid for BG Group, a British firm with a stockpile of prized oil fields off the coast of Brazil, and lucrative natural gas holdings in Australia. The companies announced the £47 billion ($70 billion) deal early Wednesday. It's the biggest in the sector since Exxon bought Mobil in 1998, according to Dealogic. Shell will pay a 50% premium to BG's closing share price of £9.10 ($13.56) on Tuesday. If completed, the purchase will add 25% to Shell's oil and gas reserves and 20% to production. Shell also expects "synergies" of around $2.5 billion,...
  • Saudi's Naimi Says Ready To Help Improve Oil Prices, But Not Alone

    04/08/2015 6:12:32 AM PDT · by thackney · 6 replies
    Reuters via Rig Zone ^ | April 07, 2015 | Reem Shamseddine
    Saudi Arabia's oil minister Ali al-Naimi said on Tuesday that the kingdom stood ready to "improve" prices but only if other producers outside of OPEC joined the effort. Naimi said Saudi Arabia had pumped around 10.3 million barrels per day (bpd) in March, marking an increase from previous months. He did not say why output had risen. Naimi also said he expected oil prices that have languished near six-year lows to improve in the near future. Oil prices extended gains late on Tuesday as traders took Naimi's comments as sign he may be open to renewed talks with producers like...
  • Fewer Oil Trains Ply America’s Rails

    04/08/2015 4:33:14 AM PDT · by thackney · 13 replies
    Oil Gas Journal ^ | April 6, 2015 | ALISON SIDER
    The growth in oil-train shipments fueled by the U.S. energy boom has stalled in recent months, dampened by safety problems and low crude prices. The number of train cars carrying crude and other petroleum products peaked last fall, according to data from the Association of American Railroads, and began edging down. In March, oil-train traffic was down 7% on a year-over-year basis. Railroads have been a major beneficiary of the U.S. energy boom, as oil companies turned to trains to move crude to refineries from remote oil fields in North Dakota and other areas not served by pipelines. Rail shipments...
  • Enterprise completes Houston Ship Channel terminal expansion

    04/08/2015 4:25:04 AM PDT · by thackney · 3 replies
    Fuel Fix ^ | April 7, 2015 | Rhiannon Meyers
    Enterprise Products Partners has expanded its liquefied petroleum gas export terminal at the Houston Ship Channel, bolstering its ability to ship more supercooled propane to buyers overseas. The Houston-based midstream company announced the project two years ago to capitalize on the vast supplies of cheap natural gas unlocked by the U.S. shale boom. Enterprise said it wanted to give producers better access to international markets, in turn, giving U.S. oil companies more of an incentive to continue pumping gas from the ground. “We have such a strong production in the U.S. that it’s actually outpacing domestic demand,” Enterprise spokesman Rick...
  • AEP prepares to close 6 coal-fired plants in 4 states

    04/07/2015 5:27:22 AM PDT · by thackney · 27 replies
    Power Engineering ^ | 4/6/2015 | AP
    American Electric Power (NYSE: AEP) is preparing to close six coal-fired power plants in four states on May 31 to comply with stricter federal emissions standards. Columbus, Ohio-based AEP recently gave notices of the closures to the states and to workers at the Philip Sporn, Kammer and Kanawha Valley plants in West Virginia, the Muskingum River Plant in Ohio, the Tanners Creek Plant in Indiana and the Glen Lyn Plant in Virginia. The notices are required by the federal Worker Adjustment and Retraining Notification Act. More than 250 workers will be affected by the plant shutdowns, which were announced by...
  • Oil hits 7-week high as fear of Iranian oil flood fades

    04/07/2015 5:19:06 AM PDT · by thackney · 7 replies
    Market Watch ^ | Apr 6, 2015 | William Watts and Eric Yep
    Oil futures rebounded sharply Monday, with the U.S. benchmark closing at its highest level in seven weeks on signs of strengthening Asian demand and expectations a preliminary agreement to curb Iran’s nuclear program won’t see the market immediately swamped with more crude. On the New York Mercantile Exchange, West Texas Intermediate crude for delivery in May jumped $3, or 6.1%, to close at $52.14 a barrel. That marked the highest close for a most-active futures contract since Feb. 17. May Brent crude LCOK5, on London’s ICE Futures exchange rose $3.17, or 5.8%, to $58.12 a barrel. Both benchmarks saw their...
  • Senators Try To Stop The Coming Oil Train Wreck

    04/07/2015 4:58:51 AM PDT · by thackney · 10 replies
    Forbes ^ | 4/06/2015 | James Conca
    Spearheaded by the Senators from Washington_State, legislation just introduced in the United States Senate will finally address the rash of crude oil train wrecks and explosions that have skyrocketed over the last two years in parallel with the steep rise in the amount of crude oil transported by rail. Oil production is at an all-time high in America, great for our economy and energy independence, but bad for the people and places that lie along the shipping routes. Just since February, there have been four fiery derailments of crude oil trains in North America and many more simple spills. More...
  • Mismanagement caused Turkey's power outage; grid head has quit - minister

    04/06/2015 9:25:01 AM PDT · by thackney · 6 replies
    Reuters ^ | Apr 6, 2015 | Reuters
    A power outage last week that affected more than 70 million people in Turkey was likely caused by mismanagement, and the head of the electricity distribution company (TEIAS) has resigned, Energy Minister Taner Yildiz said on Monday. The shutdown of two plants in Izmir and Adana Cukurova led to an outage...
  • Chevron’s long game, Oil giant keeps drilling, sees Permian as Top 5 asset in the world

    04/06/2015 9:11:29 AM PDT · by thackney · 4 replies
    OA Online ^ | April 5, 2015 | COREY PAUL
    Much of the Permian Basin’s oil boom eluded the world’s supermajor oil companies like Chevron, who took their corporate offices and large management teams from the area in the 1990s as common perception held the region was slowly dying. But during this downturn, the supermajors see opportunity again in the Permian Basin. Chevron, and to a lesser extent Exxon Mobil, plan to pursue aggressive drilling and completion programs this year. In the short-term, that offers some relief for the oil service companies and rig crews hammered by oil prices hovering below $50 per barrel. But it also reflects a long-term...
  • The U.S. oil boom is moving to a level not seen in 45 years

    04/04/2015 3:25:06 PM PDT · by thackney · 23 replies
    Market Watch ^ | Apr 3, 2015 | Myra P. Saefong
    U.S. oil production is on track to reach an annual all-time high by September of this year, according to Rystad Energy. If production does indeed top out, then supply levels may soon hit a peak as well. That, in turn, could lead to shrinking supplies. The oil-and-gas consulting-services firm estimates an average 2015 output of 9.65 million barrels a day will be reached in five months — topping the previous peak annual reading of 9.64 million barrels a day in 1970. Coincidentally, the nation’s crude inventories stand at a record 471.4 million barrels, based on data from U.S. Energy Information...
  • Five companies face restrictions after flaring too much gas

    04/03/2015 4:58:22 AM PDT · by thackney · 52 replies
    Bismarck Tribune ^ | 4/2/2015 | Lauren Donovan
    he State Oil and Gas Division has taken action against five oil companies that are flaring more gas than is allowed under the state’s new gas flaring order and policies. Starting this month, the companies were ordered to choke down production to 100 barrels per day on certain wells or face potential daily penalties. Division spokeswoman Alison Ritter said this is the highest number of companies and the most wells to be placed under restriction since a flaring order went into effect, calling for companies to capture 77 percent of produced gas by start of January this year. The companies...
  • The petrochemical industry has billions in projects on tap, but not enough workers to build them

    04/03/2015 4:55:44 AM PDT · by thackney · 24 replies
    Fuel Fix ^ | April 2, 2015 | Rhiannon Meyers
    The petrochemical industry’s struggle to find enough welders, pipefitters and skilled laborers to build the billions in new projects slated for the Gulf Coast is a problem of its own making, the head of a construction education foundation said this week. Craft laborers require years of training to become minimally qualified and up to a decade or more to acquire the skills that make them top performers, but the industry has failed to consistently invest in developing that workforce, said Don Whyte, president of NCEER, which develops curriculum and assessments for construction and maintenance workers. “I’ve seen five or six...
  • Odessa coal-to-gas power plant to break ground this year

    04/03/2015 4:53:07 AM PDT · by thackney · 7 replies
    Fuel Fix ^ | April 1, 2015 | Ryan Holeywell
    A new power plant in West Texas that could transform coal into cleaner-burning natural gas is poised to break ground later this year, an executive in charge of the project said at a conference in Houston Wednesday. The project, located on a 600-acre site in Odessa, uses coal as a feedstock for a 400 megawatt power plant. But instead of burning it, the plant uses a chemical process to first strip it of carbon, sulfur and mercury. The result, project leaders say, is a hydrocarbon that can fuel the power plan but burns even cleaner than natural gas — even...
  • The Owners of the Keystone Pipeline Just Canceled a Project in Canada

    04/03/2015 4:49:50 AM PDT · by thackney · 29 replies
    New Republic ^ | APRIL 2, 2015 | Rebecca Leber
    TransCanada on Thursday announced a two-year delay to its plans to move the Canadian tar sands. The company is cancelling its plans to build a controversial export terminal in Quebec, citing environmental concern over the endangered beluga whale. This means a delay to plans for finishing the Energy East pipeline, now set for 2020. In the meantime, TransCanada will search for a new location for its port. For once, then, Canadian oil news isn't about the TransCanada-owned Keystone XL, which has faced a six-year delay as the Obama administration sits on a decision to issue a permit. At least not...
  • Fire Reported On Bay Of Campeche Dwelling Platform

    04/01/2015 9:56:45 AM PDT · by thackney · 21 replies
    Oil Pro ^ | 4/1/2015 | Melanie Smith
    Wednesday morning, social network users reported a fire on the dwelling platform Abkatun Alfa located in Mexico's oil-rich Bay of Campeche. According to local media reports, the Abkatun Alpha is a dwelling platform purposed for housing personnel working offshore in the Bay of Campeche. Early reports also indicate it is owned by a private firm subcontracted by Pemex. Preliminary information indicates a failure in operation processes caused the fire. The incident prompted the evacuation of the platform. Some injuries were also reported. The injured were transported via helicopter from the rig to hospitals in Ciudad del Carmen. One death, 48...
  • Explained: How 76 million people were hit by Turkey’s worst blackout since 1999

    04/01/2015 8:02:37 AM PDT · by thackney · 14 replies
    Hurriyet Daily News ^ | April/01/2015 | Hurriyet
    1) What happened in Turkey on March 31? At 10:36 a.m., a massive blackout hit Turkey. Out of the 81 Turkish provinces, electricity was not totally cut only in the eastern province of Van, which receives some of its energy from Iran. In total, more than 76 million citizens were affected in one way or another. Described by the Energy Ministry as the worst national blackout since the 1999 Marmara earthquake, the outage wreaked havoc in daily life throughout the country with mass transit and traffic lights ceasing to work, hospitals sounding the alarm, factories halting production, mobile phone connections...
  • {NYC} East Village Explosion Might Have Followed Attempt to Hide Gas Siphoning

    04/01/2015 4:46:34 AM PDT · by thackney · 69 replies
    New York Times ^ | MARCH 31, 2015 | PATRICK McGEEHAN and AL BAKER
    ...destroyed three_buildings and killed two men in the East Village last week resulted from an attempt to hide the unauthorized siphoning of natural gas for tenants in one of the buildings. Their working theory is that one or more gas lines were surreptitiously tapped over several months; then the siphoning apparatus was dismantled or hidden on Thursday before Consolidated Edison conducted an inspection. As soon as the utility inspectors left, an attempt to resume the diversion of gas went awry, setting off the explosion, according to two law enforcement sources with knowledge of this working theory. That version of events...
  • Exxon Mobil starts production at its new deepwater project in the Gulf

    04/01/2015 4:11:54 AM PDT · by thackney · 9 replies
    Fuel Fix ^ | March 31, 2015 | Robert Grattan
    Exxon Mobil Corp. said Monday it had begun producing from its Hadrian South Gulf of Mexico project. Total production of the project is expected to reach about 300 million cubic feet of gas and 3,000 barrels of liquids per day from two wells. The well is located about 230 miles offshore and in about 7,650 feet of water. First production comes after a discovery well was drilled in 2008 and an appraisal well was completed in 2009. Exxon operates the Hadrian South project with a 46.7 percent interest while Brazil’s Petrobras and Italy’s Eni hold a 23.3 percent and 30...
  • New EIA monthly data track crude oil movements by rail

    03/31/2015 12:48:53 PM PDT · by thackney · 8 replies
    Energy Information Administration ^ | MARCH 31, 2015 | Energy Information Administration
    For the first time, EIA is providing monthly data on rail movements of crude oil, which have significantly increased over the past five years. The new data on crude-by-rail (CBR) movements are integrated with EIA's existing monthly petroleum supply statistics, which already include movements by pipeline, tanker, and barge. The new monthly time series of crude oil rail movements includes shipments to and from Canada and dramatically reduces the absolute level of unaccounted for volumes in EIA's monthly balances for each region. EIA is initiating the new series with monthly data from January 2010 through the current reporting month, January...
  • Venezuela Cuts Oil Subsidies To Caribbean Nations

    03/31/2015 7:31:19 AM PDT · by thackney · 6 replies
    NPR ^ | MARCH 30, 2015 | Jackie Northam
    Venezuela is Latin America's largest oil producer, and its economy depends heavily on oil exports. It's been been hit hard by the tumbling oil prices. "Venezuela is in desperate straits. The oil sector has been deteriorating, and now with the slumping oil prices, they needed cash desperately," says Michael Shifter, the president of the Inter-American Dialogue, a Washington, D.C.-based group that studies the region. Shifter says it's no surprise that Venezuela is trimming back a program that provides oil at subsidized, deferred payment rates to many of its Caribbean neighbors that are dependent on energy imports. Petrocaribe — an alliance...
  • Advanced Drillships Become Burden For Owners As Business Dries Up

    03/31/2015 5:34:51 AM PDT · by thackney · 9 replies
    Reuters via Rig Zone ^ | March 27, 2015 | Sneha Banerjee & Swetha Gopinath
    Not so long ago, advanced drillships costing more than half a billion dollars each and capable of operating in ever-deeper waters practically guaranteed big profits for oil-rig operators. Now, with oil prices down by half since June, many have become a burden on their owners as drilling activity slows. Drillship operators face a more brutal hit to margins than they did after the oil-price crash of 2008 because of the huge cost of maintaining the more than $10 billion worth of state-of-the-art vessels that have been idled at sea, analysts say. Noble Corp Plc, Ensco Plc and Transocean Ltd are...
  • Microseismic Plus Refrack Could Equal More Production

    03/31/2015 5:22:10 AM PDT · by thackney
    E&P Hart Energy ^ | March 23, 2015 | Velda Addison
    Production from U.S. unconventional plays—boosted by advances in completion technology and techniques—has undoubtedly transformed the oil and gas scene both in the U.S. and abroad. However, low recovery rates for shale oil and gas plus steep declines for wells show there is still room for improvement. Some are turning to microseismic and refracks to better results given today’s market conditions. “Beating the decline curve in unconventional reservoirs requires continuous drilling and completion of new wells. This can be costly and time consuming,” Sudhendu Kashikar, vice president of completions evaluation for MicroSeismic Inc., explained in a webcast this week. “Refracking provides...
  • CME Group launches unprecedented oil-storage futures contract

    03/31/2015 5:11:30 AM PDT · by thackney
    The Globe and Mail ^ | Mar. 30 2015 | LUKE KAWA
    As U.S. crude oil stockpiles soar, CME Group Inc. has come up with an innovative way for energy producers to reserve space in storage facilities. The ability to trade oil futures contracts has been around since 1983, but on Monday, the first ever oil-storage futures contract goes live. One contract bestows upon its holder the right, but not the obligation, to store 1,000 barrels of crude oil in caverns or above-ground tanks in Louisiana. Three grades of sour crude are eligible to be held at these facilities, which are connected to 50 per cent of the United States’ refining capacity...
  • Canada Pushes Ahead with Keystone XL Alternatives

    03/31/2015 5:04:39 AM PDT · by thackney · 8 replies
    Scientific American ^ | March 30, 2015 | Bobby Magill
    A decision on whether to allow the Keystone XL Pipeline to be built in the U.S. could come at any time, but there are myriad other projects on the table designed to do exactly what Keystone XL was designed to do: transport Canadian tar sands oil to refineries. Those pipelines, both in the U.S. and Canada, are being designed to move the oily bitumen produced from the tar sands to refineries in Texas and eastern Canada, and to ports on the Pacific Coast where the oil could be shipped to Asia. Combined, the pipelines would be able to carry more...
  • Oil industry to Obama: Stop excluding Atlantic drilling leases

    03/31/2015 4:58:56 AM PDT · by thackney · 3 replies
    Fuel Fix ^ | March 30, 2015 | Jennifer A. Dlouhy
    As the Obama administration weighs where to sell offshore drilling leases from 2017 to 2022, the oil industry has a single plea: Stop ruling out potential prospects. Eight industry trade groups are delivering that message in comments set to be filed with the administration on Monday, ahead of a midnight deadline for the public to weigh in on the Interior Department’s draft proposed offshore leasing program for 2017 to 2022. “Considerable acreage has already been excluded at this early stage of the planning process, especially in the Atlantic, eastern Gulf of Mexico and Alaska outer continental shelf,” said the groups,...
  • BNSF adds new safety rules for crude oil trains

    03/31/2015 4:55:40 AM PDT · by thackney · 12 replies
    Fuel Fix ^ | March 30, 2015 | Associated Press
    <p>BNSF has started taking additional safety measures for crude oil shipments because of four recent high-profile derailments in the U.S. and Canada, the railroad said Monday.</p> <p>Under the changes, BNSF is slowing down crude oil trains to 35 mph in cities with more than 100,000 people and increasing track inspections near waterways. The Fort Worth-based railroad also is stepping up efforts to find and repair defective wheels before they can cause derailments.</p>
  • Why Does Yemen Matter to the World’s Oil Market?

    03/29/2015 4:24:06 AM PDT · by thackney · 12 replies
    Wall Street Journal ^ | MAR 26, 2015 | Summer Said
    Q: Why is Yemen important to the world oil market? Yemen is only a small oil producer, but it lies at the heart of some of the most important energy routes. It shares a long border with southwest Saudi Arabia, world’s top oil exporter, and is adjacent to the Bab el-Mandeb strait, the fourth-biggest shipping chokepoint in the world by volume. About 3.8 million barrels a day of petroleum passed through the strait in 2013, according to the U.S. Energy Information Administration. Closing the strait could keep tankers in the Persian Gulf from reaching the Suez Canal and the SUMED...