Articles Posted by thackney

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  • McConnell: Make me majority leader, I'll give you Keystone XL

    09/19/2014 7:51:37 AM PDT · by thackney · 57 replies
    The Hill ^ | 09/18/14 | Laura Barron-Lopez
    Marking the sixth anniversary of the controversial Keystone XL pipeline's permit application, Minority Leader Mitch McConnell (R-Ky.) teased voters with a preview of what a GOP-controlled Senate would do. "If American people give us the opportunity to be in a majority next year, I'll be setting the agenda," McConnell said. "It's easier to score if you're on offense, and the majority leader is offensive coordinator." He added: "If we have a new majority next year, and a new majority leader, the Keystone pipeline will be voted on on the floor of the Senate, something the current majority has been avoiding...
  • Energy investment boom drives economic recovery

    09/19/2014 7:38:47 AM PDT · by thackney · 9 replies
    The Hill ^ | September 18, 2014 | Derrick Freeman
    Americans seem to have a love-hate relationship with major energy companies. On the one hand, our iconic brands are global leaders and symbols of U.S. technological and economic prowess. On the other hand, Big Energy takes the heat when the public gets restive over rising gas prices, or there’s an extended power outage. A new Progressive Policy Institute (PPI) report highlights an underappreciated fact about energy companies—they are huge investors in the U.S. economy. In fact, along with telecoms and Internet-based businesses, they are leading our economic recovery. Each year, PPI economists Michael Mandel and Diana Carew rank America’s top...
  • N. Dakota needs $800 million for housing, schools in wake of oil boom, state GOP says

    09/19/2014 5:39:15 AM PDT · by thackney · 55 replies
    Fuel Fix ^ | September 18, 2014 | Associated Press
    North Dakota Republicans on Wednesday unveiled an $800 million one-time spending plan to address immediate problems tied to the oil boom in the western part of the state.... The proposal includes $475 million to oil-producing counties and cities; $140 million to oil patch hub cities of Williston, Dickinson and Minot; $35 million to county schools affected by oil development; and $150 million for road projects outside of the oil patch.... Ron Ness, president of the North Dakota Petroleum Council, said infrastructure needs and a shortage of workers are the biggest challenges facing North Dakota’s energy sector. The state has more...
  • Chevron first energy giant to meet new sustainable shale standards

    09/19/2014 5:19:03 AM PDT · by thackney · 2 replies
    Fuel Fix ^ | September 18, 2014 | Associated Press
    Chevron has become the first energy company to meet a new set of voluntary shale gas drilling standards that aim to go beyond existing state laws in Pennsylvania, Ohio and West Virginia, the Pittsburgh-based Center for Sustainable Shale announced Thursday... Chevron’s pledges to recycle drilling fluids, not use open waste pits and to reduce methane leaks address “very big” concerns for many people, said Davitt Woodwell, president of the Pennsylvania Environmental Council. Chevron also says it now discloses all of the chemicals used in the hydraulic fracturing, or fracking, process in the region. Woodwell said his group hopes other drilling...
  • Range Resources to pay $4 million drilling waste fine

    09/19/2014 5:15:38 AM PDT · by thackney · 5 replies
    Fuel Fix ^ | September 18, 2014 | Associated Press
    Energy company Range Resources said Thursday it has agreed to pay a $4.15 million fine for environmental violations at a western Pennsylvania site that handled natural gas drilling waste. The penalty is the largest the state has ever imposed on the shale gas industry. Range, based in Fort Worth, said in a statement that it accepts the Pennsylvania Department of Environmental Protection fine and is “deeply disappointed” over the violations at Washington County wastewater impoundments, about 25 miles southwest of Pittsburgh. The fine was imposed for leaks at open pits Range operates to store the so-called flowback waste from natural...
  • Oil and gas companies court military veterans as shale boom grows

    09/18/2014 10:09:00 AM PDT · by thackney · 9 replies
    EagleFordTexas.com ^ | 9/16/2014 | Shane Thielges
    John MacZura, an Army infantry veteran, started work a week after graduation. Before receiving his petroleum engineering degree from Penn State in 2013, Mr. MacZura, 30, had already piqued the interest of five or six oil and gas companies. He had job offers from three. He eventually joined Houston-based Cabot Oil and Gas, where he now works as a completions engineer. “The military plays a large part in how I got to where I’m at today,” said Mr. MacZura. He spent four years stationed at the Schofield Barracks in Hawaii and two in the National Guard. “I can’t say I...
  • The Next Logical Step For Natural Gas Supplies?

    09/18/2014 8:47:43 AM PDT · by thackney · 4 replies
    Rig Zone ^ | September 17, 2014 | Matthew V. Veazey
    A California-based company claims that it has found a commercially viable technique to directly convert natural gas into liquid fuels or petrochemical building blocks. "Natural gas is the next logical step for the energy and chemistry industry," said Rahul Iyer, vice president of corporate development with Siluria Technologies, which is partnering with world-class refining and petrochemical companies to roll out its catalytic processes for producing ethylene and liquid hydrocarbon fuels or fuel blend stocks. Last month, Siluria announced that it raised nearly more than $30 million in a financing led by Saudi Aramco Energy Ventures (SAEV) – the venture investment...
  • What Offshore Oil Might Mean for an Independent Scotland

    09/18/2014 8:10:43 AM PDT · by thackney · 3 replies
    American Interest ^ | September 17, 2014 | WALTER RUSSELL MEAD & STAFF
    There’s still plenty left to parse ahead of Scotland’s historic independence referendum tomorrow, not the least of which are very real concerns over what a “yes” vote might mean for the country’s energy ambitions. The North Sea is lousy with oil deposits (though production from many of these seems to be tapering off), and many of the pro-independence agitators have campaigned on a desire to claim more of the revenues from these offshore plays. But as the New York Times reports, these fields could prove fractious for the Scotland-UK relationship: [A] yes vote on Thursday could lead to protracted wrangling...
  • Medlock: Without oil exports, drilling rigs could flee U.S.

    09/18/2014 5:28:00 AM PDT · by thackney · 36 replies
    Fuel Fix ^ | September 17, 2014 | Jennifer A. Dlouhy
    It will take a “train wreck” of falling prices, declining oil production and idle drilling rigs before the United States lifts its longstanding ban on exporting crude, a noted economist predicted Wednesday. Analysts have warned those are the possible outcomes if existing discounts on U.S. crude grow even larger and domestic oil production exceeds the ability of the nation’s refiners to process it. And while oil producers are beseeching the Obama administration and lawmakers to ease the export ban now — heading off any such “day of reckoning” — Rice University economist Kenneth Medlock said political action probably will lag...
  • Libya Shuts Down Largest Oilfield After Rebel Attacks

    09/17/2014 10:43:20 AM PDT · by thackney · 7 replies
    Oil Pro ^ | 9/17/2014 | Abisha Rabiyah
    Production has been halted at Libya's largest oilfield- the Sharara field- after a rocket attack at the connected Zawiya refinery, threatening nearly 30% of the country's production, Bloomberg reported Wednesday. A rocket exploded near a crude storage tank at the Zawiya refinery. The field was completely shutdown last evening following the discovery of damage to a 300,000 barrel crude storage tank at the facility, Mansur Abdallah, director of oil movement at the Zawiya refinery, told Bloomberg by phone. Prior to the disruption, the Sharara field produced approximately 250,000 bpd. Production was shut down as a precautionary measure after an attack...
  • Islamic State Funds Push Into Syria and Iraq With Labyrinthine Oil-Smuggling Operation

    09/17/2014 5:34:46 AM PDT · by thackney
    Wall Street Journal ^ | Sept. 16, 2014 | BENOÎT FAUCON and AYLA ALBAYRAK
    The Islamic State is funding its rapid push into Syria and Iraq with a labyrinthine oil-smuggling operation that starts at seized Syrian oil fields, goes through makeshift refineries and can end up in jerrycans carried by mules into the hilly borderland of Turkey. Amid Western pressure to squeeze the group's finances, Turkey is expanding efforts to crack down on the increasingly organized business, which is now generating an estimated $2 million a day. A major route linking Syrian oil fields with the smuggling enclaves of southern Turkey offers a window onto the complexity of the oil network run by Islamic...
  • Feds reveal details on Shell’s Arctic ambitions

    09/17/2014 5:01:54 AM PDT · by thackney · 2 replies
    Fuel Fix ^ | September 16, 2014 | Jennifer A. Dlouhy
    More details came to light Tuesday on Shell’s plans for exploratory oil drilling in the Chukchi Sea north of Alaska, as federal regulators released a copy of the company’s broad Arctic drilling blueprint. Shell filed the document with the Bureau of Ocean Energy Management last month, a milestone in its quest to resume drilling in the region after its previous, attempt two years ago was marred by mishaps. Shell is aiming to drill up to six wells on separate lease blocks encompassing its Burger prospect in the Chukchi Sea, with work unfolding over several years. It plans to put two...
  • Spectra Energy announces $3 billion New England project

    09/16/2014 10:34:05 AM PDT · by thackney · 5 replies
    Fuel Fix ^ | September 16, 2014 | Ryan Holeywell
    Spectra Energy Corp. announced a $3 billion expansion to its New England pipeline network which it says will help meet growing demand for natural gas in the region. The undertaking will allow Houston-based Spectra and its partners to deliver 1 billion cubic feet of natural gas per day to the area, the company said. The project will serve both gas-fired power plants as well as customers who use natural gas for heating. “This is another step in our commitment to improving power system reliability, reducing electric costs to make the region more economically competitive, and protecting New England’s quality of...
  • Russia's Energy Minister To Meet OPEC As Oil Price Falls More

    09/16/2014 6:59:39 AM PDT · by thackney · 10 replies
    Rig Zone ^ | September 15, 2014 | Reuters
    Russian Energy Minister Alexander Novak will meet OPEC officials on Tuesday in Vienna, his spokeswoman said, as oil's price fall piled pressure on Moscow's budget. The annual meeting had been planned long before oil fell below the $100 per barrel level critical for Russia's oil sales which account for 40 percent of state budget revenues. Russia suffered from a decline of oil production and prices this year and has cut its outlook for oil output as core Western Siberian fields become more depleted. The spokeswoman said that Novak and the officials from the Organization of the Petroleum Exporting Countries had...
  • Industry Group: Brazil 'Falling Off World Oil Map' Over Failed Policies

    09/16/2014 6:02:03 AM PDT · by thackney · 21 replies
    Reuters via Rig Zone ^ | September 16, 2014 | Jeb Blount
    Investors are losing interest in Brazil's oil industry as the country's energy policies raise costs, reduce efficiency and increase risk, Brazil's oil industry association, the IBP, said on Monday. Without changes Brazil will likely lose out to places such as Mexico, Iran, Iraq and Algeria where policies are becoming more open to private sector investment. "I went to the three largest oil conventions in the world this year and you hardly heard Brazil's name mentioned," Milton Costa Filho, Executive Secretary of the IBP told reporters at an industry event in Rio de Janeiro. "Brazil is falling off the world oil...
  • Oil tanker sizes range from general purpose to ultra-large crude carriers on AFRA scale

    09/16/2014 5:56:37 AM PDT · by thackney · 8 replies
    Energy Information Administration ^ | SEPTEMBER 16, 2014 | Energy Information Administration
    The global crude oil and refined product tanker fleet uses a classification system to standardize contract terms, establish shipping costs, and determine the ability of ships to travel into ports or through certain straights and channels. This system, known as the Average Freight Rate Assessment (AFRA) system, was established by Royal Dutch Shell six decades ago, and is overseen by the London Tanker Brokers' Panel (LTBP), an independent group of shipping brokers. AFRA uses a scale that classifies tanker vessels according to deadweight tons, a measure of a ship's capacity to carry cargo. The approximate capacity of a ship in...
  • Energy boom fueled by small business, not Big Oil, industry report says

    09/15/2014 6:45:50 AM PDT · by thackney · 9 replies
    Times-Picayune ^ | September 09, 2014 | Jennifer Larino
    When it comes to the U.S. energy boom, small and mid-size firms -- not Big Oil -- are providing the momentum for growth, according to an American Petroleum Institute report released Tuesday (Sept. 9). The industry group's report looks at the oil and gas supply chain in all 50 states, listing more than 30,000 firms across the country. The findings were based on a nationwide survey asking oil and gas companies what suppliers, contractors and other vendors they use. "Oil and natural gas companies are only one part of a much larger economic success story that is creating job growth...
  • New petroleum technology revitalizes Powder River Basin oil production

    09/15/2014 5:54:36 AM PDT · by thackney · 11 replies
    Energy Information Administration ^ | SEPTEMBER 15, 2014 | Energy Information Administration
    The Powder River Basin, well known for its abundant coal supply, is experiencing a turnaround in oil production. Production has rebounded from a low of 38,000 barrels per day (bbl/d) in 2009 to 78,000 bbl/d during first-quarter 2014. Although U.S. oil production growth is occurring primarily in the Bakken, Eagle Ford, and Permian Basins, the Powder River Basin is among other regions of the country that have also benefitted from the application of horizontal drilling and hydraulic fracturing. The increase in Powder River Basin oil production is largely attributable to production growth in the Turner, Parkman, and Niobrara-Codell formations, which...
  • Meeting Heavy Demand – Industrial Infrastructure in the Eagle Ford Shale

    09/15/2014 5:45:29 AM PDT · by thackney · 3 replies
    Oil Pro ^ | 9/12/2014 | Tim Stinson
    While the economic boom brought on by the Eagle Ford Shale in South Texas has no doubt brought attention and prosperity to the state, it’s brought on its fair share of complications, too. One such complication: industrial infrastructure in the Eagle Ford Shale. To remedy the challenges created by the large influx of oil and natural gas production in the state, numerous regional refineries are being overhauled to meet demand, and billions of dollars in new pipelines are being created as well. New Pipelines Transportation of oil and natural gas from the Eagle Ford Shale to local refineries has been...
  • Oklahoma oil hub getting bigger with new pipelines

    09/15/2014 5:05:00 AM PDT · by thackney · 3 replies
    Fuel Fix ^ | September 14, 2014 | Associated Press
    CUSHING, Okla.— New pipeline projects are expanding the size of an Oklahoma crude oil hub that is already one of the most important oil storage facilities in the world. One new pipeline is in operation at the hub in Cushing, another is almost complete and a new project was announced earlier this month when Tulsa-based NGL Energy Partners revealed plans for the Grand Mesa Pipeline, a joint venture with Rimrock Midstream LLC, the Tulsa World reported Saturday. Grand Mesa, which will be open to oil producer commitments starting next week, will be a 550-mile system from Colorado to Cushing. Once...
  • UTSA, Southwest Research find a new way to clean frack water

    09/12/2014 5:04:27 AM PDT · by thackney · 4 replies
    Fuel Fix ^ | September 12, 2014 | Jennifer Hiller
    The University of Texas at San Antonio and the Southwest Research Institute say they have found an inexpensive way to treat the water that flows back to the surface after hydraulic fracturing. A team of researchers used a plant matter called biochar to remove impurities from the flowback water. UTSA and Southwest Research Institute say it’s a low-cost method that could help address the issue of the millions of gallons of water use and disposal – per well – in new oil and gas fields such as the Eagle Ford Shale. Hydraulic fracturing pumps a mix of water and chemicals...
  • Oil industry accuses administration of political motive in ethanol rules

    09/12/2014 5:02:42 AM PDT · by thackney · 17 replies
    Fuel Fix ^ | September 11, 2014 | Rhiannon Meyers
    An oil industry trade group unveiled its latest attack ads on the nation’s renewable fuels policy, accusing the Obama administration of “playing politics” with a mandate to blend more ethanol into gasoline. The American Petroleum Institute said Thursday it fears the Environmental Protection Agency will boost ethanol requirements to help a Democrat locked in a close U.S. Senate race in Iowa — a corn-growing state that benefits from the mandate because most U.S. ethanol is made from corn. U.S. Rep. Bruce Braley, an Iowa Democrat running to succeed retiring Democratic Sen. Tom Harkin, last month sent a letter to the...
  • Back from South Texas, regulator re-warns of pipeline threat

    09/11/2014 12:43:07 PM PDT · by thackney · 5 replies
    Fuel Fix ^ | September 11, 2014 | Michael Brick
    He went. He saw. He issued another news release. Making good on his vow to “see the situation first hand,” Texas Railroad Commissioner David Porter returned Thursday from a visit to oil installations with a grim safety assessment. But the industry, he stressed, was not to blame. “South Texas pipelines are vulnerable,” announced Porter, whose agency regulates the state’s petroleum industry, “because the federal government has abdicated its most basic function to protect our borders.” Repeating an assertion that he made in an open letter last month to the federal Customs and Border Patrol agency, Porter said “his concerns stems...
  • US, EU Ready New Sanctions to Stop Oil Exploration in Russia

    09/11/2014 7:46:40 AM PDT · by thackney · 5 replies
    Reuters via Rig Zone ^ | September 11, 2014 | Timothy Gardner
    The United States and European Union plan to stop billions of dollars in oil exploration in Russia by the world's largest energy companies including Exxon Mobil Corp and BP Plc, U.S. government sources said. The planned sanctions over Russia's aggression toward Ukraine would ban U.S. and European companies from cooperating with Russia on searching its Arctic territory, deep seas or shale formations for crude, said two U.S. officials who spoke on condition of anonymity because the measures have not been made public. The measures, which one of the sources said represented "preliminary thinking," would expand sanctions the Obama administration announced...
  • Senators chide freight railroads on delays

    09/11/2014 5:36:45 AM PDT · by thackney · 55 replies
    Fuel Fix ^ | September 10, 2014 | Associated Press
    Senators and shippers complained Wednesday that widespread delays in freight rail shipments are hurting a wide array of industries and driving some companies out of business, and they expressed doubt that the railroad companies are doing all they can to fix the problem. The delays, which escalated late last year and continued through the spring and summer, appear to be the result of too few rail cars and too much demand from shippers, officials representing the agriculture, auto and chemical industries told a hearing of the Senate Commerce, Science and Transportation Committee. Lawmakers displayed a photo of a giant mound...
  • COLUMN-Worst time for Saudi Arabia's giant new oil refinery: Russell

    09/10/2014 9:43:33 AM PDT · by thackney · 5 replies
    Reuters ^ | Sep 10, 2014 | Clyde Russell
    If you could pick the worst set of circumstances in which to start up a giant, export-oriented oil refinery, you might well have them right now. Saudi Aramco and joint venture partner Sinopec have started test runs at their 400,000 barrel per day (bpd) Yanbu refinery, located in the oil-rich Middle Eastern kingdom. This puts the new plant on schedule to begin commercial exports in November, possibly even by the second half of October, according to trade sources. Yanbu will be the second major refinery to come online in Saudi Arabia in little more than a year, following the September...
  • OPEC Says World Will Need Less of Its Oil Next Year

    09/10/2014 7:45:13 AM PDT · by thackney · 13 replies
    Wall Street Journal ^ | Sept. 10, 2014 | BENOÎT FAUCON
    OPEC said demand for its crude oil will be lower than expected next year, with a surge in U.S. output potentially bringing its production to levels not seen since the past decade. In its monthly oil-market report, the Organization of the Petroleum Exporting Countries said it had lowered the estimate of demand for its crude by 200,000 barrels a day for 2015 and by the same amount for this year. As a result, markets will need 300,000 barrels a day less of OPEC crude next year, it said. OPEC's statement comes after the Brent oil contract—the most widely traded international...
  • Recognizing The Golden Age Of Texas Oil And Gas While We're In It

    09/10/2014 5:24:53 AM PDT · by thackney · 8 replies
    Forbes ^ | 9/09/2014 | David Blackmon
    James Lebas, former chief revenue estimator for the Texas Comptroller’s office, made news recently when he told the state’s House Committee on Energy Resources that, working with the Comptroller’s office, he had determined that output from the oil and natural gas industry now accounts for fully one-third of the entire Texas economy. Given that the Texas economy would rank 12th among all nations on earth, that’s an amazing amount of economic activity for one industry to provide. Yet, it should not surprise anyone who has really been paying attention to the phenomenal boom the industry has undergone in Texas since...
  • 8 Facts About U.S. Crude Oil Production

    09/10/2014 5:20:25 AM PDT · by thackney · 9 replies
    Brookings Institution ^ | September 9, 2014 | Charles K. Ebinger and Heather Greenley
    The skyrocketing growth of unconventional oil and natural gas production in the United States has ignited an intense debate on the impact of energy exports on U.S. energy and economic security and its foreign policy. In “Changing Markets: Economic Opportunities from Lifting the U.S. Ban on Crude Oil Exports,” Charles Ebinger and Heather Greenley worked with National Economic Research Associates (NERA) to examine the economic and national security impacts of lifting the ban on crude oil exports. Learn eights facts about U.S. crude oil production within the key findings outlined below, and download the full report. U.S. Economic Benefits Key...
  • Boom in Energy Spurs Industry in the Rust Belt

    09/10/2014 5:14:03 AM PDT · by thackney · 13 replies
    NY Times ^ | SEPT. 8, 2014 | NELSON D. SCHWARTZ
    Waist-high weeds and a crumbling old Chevy mark the entrance to a rust-colored factory complex on the edge of town here, seemingly another monument to the passing of the golden age of American industry. But deep inside the 14-acre site, the thwack-thwack-thwack sound of metal on metal tells a different story. “We’re holding our own,” said Greg Hess, who is looking to hire draftsmen and machine operators at the company he runs, Youngstown Bending and Rolling. “I feel good that we saved this place from the wrecking ball.” The turnaround is part of a transformation spreading across the heartland of...
  • Long supply chain keeps oil industry pumping

    09/09/2014 5:37:34 PM PDT · by thackney · 5 replies
    Fuel Fix ^ | September 9, 2014 | Jennifer A. Dlouhy
    America’s energy renaissance isn’t brought to you by Big Oil. That’s the message the American Petroleum Institute sent Tuesday, as it released a report documenting the nearly 30,000 businesses across the nation that supply the oil and gas industry with equipment and services. Erik Milito, API’s upstream director, said the report illustrates “the true breadth and scope of the industry’s positive impact throughout the country.” “What we’re trying to show is more of the teamwork approach that goes to energy, where it’s not just an operator or a producer that is involved in safe and responsible development,” Milito added. “It’s...
  • IEO2014: World liquid fuels consumption to rise 38% by 2040

    09/09/2014 2:23:02 PM PDT · by thackney · 27 replies
    Oil & Gas Journal ^ | 09/09/2014 | OGJ editors
    n the 2014 edition of its International Energy Outlook (IEO2014), the US Energy Information Administration projected world liquid fuels consumption to rise 38% by 2040. The agency also pointed out that world markets for petroleum and other liquid fuels have entered a period of dynamic change—in supply and demand. “The potential for growth in demand for liquid fuels is focused on the emerging economies of China, India, and the Middle East, while liquid fuels demand in the US, Europe, and other regions with well-established oil markets seems to have peaked,” EIA said. In countries outside the Organization for Economic Cooperation...
  • Musings: After Hiatus, Keystone XL Pipeline Battle Resumed Friday

    09/09/2014 9:17:30 AM PDT · by thackney · 7 replies
    PPHB via Rig Zone ^ | September 09, 2014 | G. Allen Brooks
    In the chambers of the Nebraska Supreme Court in Omaha, a hearing was held Friday about the decision by Lancaster County District Judge Stephanie F. Stacy claiming that the law under which the state’s governor had approved the route of the Keystone XL pipeline was unconstitutional. The judge, in a case brought by three landowners, decided that LB1161, the law passed by the state’s legislature at the end of its session in 2011 that shifted the approval of the pipeline route from the state’s Public Service Commission (PSC) to the governor, was unconstitutional, and as such the judge instituted a...
  • Rosneft Struggles To Grow As Sanctions Hit Russia's Oil Champion

    09/09/2014 8:59:51 AM PDT · by thackney · 2 replies
    Reuters via Rig Zone ^ | September 09, 2014 | Katya Golubkova, Soldatkin & Dmitry Zhdannikov
    ...faces unprecedented challenges to its long-term expansion and modernization plans.... Last week Rosneft said it would cut staff to reduce costs: Kommersant business daily said Rosneft's Moscow headquarters would see cuts of up to 25 percent from the current 4,000. These would be the first significant job losses at a company that swelled via the acquisition of rivals such as YUKOS, pushed into bankruptcy some ten years ago by the government of President Vladimir Putin. Since then Rosneft's output has risen 10-fold to exceed 4 million barrels per day or four percent of global supply. But last week it reported...
  • Gulf Coast drives surge in U.S. exports of petroleum products

    09/09/2014 7:12:27 AM PDT · by thackney · 3 replies
    Fuel Fix ^ | September 9, 2014 | Rhiannon Meyers
    The Gulf Coast is driving a surge in U.S. exports of petroleum products as refineries run at near-record levels, according to recent reports. In June, the United States on average exported 3.7 million barrels per day of gasoline, distillate, jet fuel, petroleum coke and hydrocarbon gas liquids, according to the most recent data available. That’s an increase of 17 percent, or 543,000 barrels per day, from the same time last year, the Energy Information Administration said in a newly released analysis. Nearly three-quarters of that growth came from the Gulf Coast, where refineries remain “extremely competitive” against their global counterparts...
  • Israel looks to Texas for energy investment, expertise

    09/09/2014 5:45:53 AM PDT · by thackney · 1 replies
    Fuel Fix ^ | September 9, 2014 | FuelFix.com
    Israel is hoping to lure U.S. exploration and production companies to take advantage of its new offshore opportunities. So far, Houston’s Noble Energy is the only U.S. player there, after its discovery of major gas fields below the Mediterranean Sea. Reporter Rhiannon Meyers details how Israel is searching for inspiration and expertise in Texas. “Ultimately, Texas is the hub of the global oil and gas industry,” Joshua Beagelman, who is organizing the nation’s first international oil and gas conference in the fall, told her.
  • U.S. Natural-Gas Exports Fuel Mexican Manufacturing Boom

    09/08/2014 6:53:28 AM PDT · by thackney · 11 replies
    Wall Street Journal ^ | Sept. 7, 2014 | ERIN AILWORTH
    The growing glut of U.S. natural gas is helping to power a manufacturing boom in Mexico. Natural-gas exports across the southern border have risen 11% so far this year, to two billion cubic feet a day, according to Bentek Energy, an analytics company based in Denver. And that flow of gas could double in the next few years, analysts say. Companies have announced plans for at least seven new pipelines to take gas across the border from Texas and Arizona, including one expected to start transporting fuel at the end of the month. The increasing flow of gas is easing...
  • Venezuela Set To Import Oil

    09/08/2014 5:30:51 AM PDT · by thackney · 18 replies
    American Interest ^ | September 6, 2014 | WALTER RUSSELL MEAD
    The management acumen of Venezuela’s President Nicolas Maduro continues to amaze. Reuters: Algeria is in talks to export crude oil to fellow OPEC member Venezuela, Algerian Energy Minister Youcef Yousfi said on Tuesday, confirming a Reuters report. Last week, a document from Venezuela’s state-run energy company PDVSA seen by Reuters showed Venezuela was considering importing crude oil for the first time and could use Algerian light crude as blending stock to boost sales of its own extra-heavy oil. “Yes, we are in talks,” Yousfi told Reuters when asked whether Algeria was planning to export crude oil to Venezuela. He declined...
  • Botched safety test, extra drilling key to “reckless” BP ruling

    09/08/2014 5:26:02 AM PDT · by thackney · 3 replies
    Fuel Fix ^ | September 5, 2014 | Collin Eaton
    A federal judge’s ruling that BP was reckless in the lead-up to the Gulf of Mexico oil spill hinged on mishandling of well integrity tests and a decision to drill deeper than was deemed safe, among other factors the judge said were “motivated by profit.” For years, the London oil company has been waging courtroom warfare over the events before the worst oil spill in U.S. history, pointing to alleged mistakes by cement contractor Halliburton and rig operator Transocean, which owned the Deepwater Horizon rig where 11 workers died in an explosion as the disaster unfolded. U.S. District Judge Carl...
  • Next LNG steps approved {LNG for Alaska consumption, not exports}

    09/05/2014 8:06:09 AM PDT · by thackney · 14 replies
    Petroleum News ^ | September 07, 2014 | Alan Bailey
    AIDEA board OKs early work, concession for North Slope plant for Interior supplies On Aug. 25 the board of the Alaska Industrial and Export Authority passed a couple of resolutions that move forward a project to build a liquefied natural gas plant on the North Slope, for the supply of natural gas to Fairbanks and the Alaska Interior. One resolution authorizes AIDEA to spend $1.6 million, in addition to an existing commitment of $4.5 million, for the early procurement of long lead-time items needed for the plant, while the engineering and design work for the plant is still in progress....
  • U.S. petroleum product exports continue to rise {This Week In Petroleum}

    09/05/2014 5:23:33 AM PDT · by thackney · 17 replies
    Energy Information Administration ^ | September 4, 2014 | Energy Information Administration
    U.S. exports of petroleum products, primarily from the Gulf Coast (PADD 3), have continued to increase. Year-to-date product exports through June 2014 (the latest month for which data are available), including gasoline, distillate, jet fuel, petroleum coke, and hydrocarbon gas liquids (HGL), averaged 3.7 million barrels per day (bbl/d), up 543,000 bbl/d over last year. Increased exports from the Gulf Coast have accounted for 72% of the growth in total U.S. exports (Figure 1). With U.S. refinery runs at or near record levels for much of the year and domestic product demand only slightly higher than last year, product exports...
  • Crude oil rail shipments set record pace

    09/05/2014 5:02:30 AM PDT · by thackney · 16 replies
    Fuel Fix ^ | September 4, 2014 | Michael Brick
    Rail shipments of crude oil rose to 119,634 carloads in the most recent fiscal quarter, an increase of more than 10 percent over the 106,605 shipments in the comparable period last year, according to figures released Thursday by the American Association of Railroads. The association, an industry trade group, called it the busiest quarter ever for crude oil shipments by rail. In the single month of August, shipments rose 25 percent compared to the previous August. Shipments of other commodities showed more modest gains. As oil production has soared past pipeline capacity, trains have become a favored alternative for the...
  • US rail chiefs in plea on grain delays

    09/05/2014 4:59:38 AM PDT · by thackney · 27 replies
    Financial Times ^ | September 4, 2014 | Robert Wright
  • It’s not just oil, power due to be overhauled in Mexico

    09/05/2014 4:51:26 AM PDT · by thackney
    Fuel Fix ^ | September 5, 2014 | Robert Grattan
    Mexico’s landmark energy reforms have mostly been discussed from the perspective of oil and gas production, but industry experts also hoping the changes will transform Mexico’s electric power industry. The country’s electric power sector has been plagued by not enough supply and inefficiencies for decades. The state-owned Federal Electricity Commission controlled the majority of generation and all transmission and distribution facilities. In a presentation Thursday in Houston on Mexican Energy reform, Mayer Brown partner Jose Valera estimated the average electricity rates in Mexico were about 25 percent higher than the average U.S. price even after the government offered a hefty...
  • The US Shale Experience: A Script for Mexico?

    09/04/2014 10:18:40 AM PDT · by thackney · 12 replies
    Forbes ^ | 9/03/2014 | Kenneth B Medlock III
    The ongoing energy reform in Mexico has been touted as opening the possibilities for a massive production increase from shale formations in the Burgos and Sabinas basins, largely because the assessments of technically recoverable resources reported by the US Energy Information Administration are so substantial. But, we should be careful not to put the proverbial “cart in front of the horse.” Specifically, as the US success story shows, although the geology (the cart in this case) might be very promising, there are a number of above ground issues (the horse) that must be aligned for large-scale successes to be realized....
  • Midstream firms build to meet Eagle Ford condensate production

    09/04/2014 8:39:40 AM PDT · by thackney · 10 replies
    HOUSTON CHRONICLE via My San Antonio ^ | SEPTEMBER 3, 2014 | ROBERT GRATTAN
    With an $860 million deal announced this week, Buckeye Partners is betting on condensate. Condensate, a type of light crude oil, has been flowing in increasing quantities from the Eagle Ford Shale in South Texas as technological advances boost production there. And with more condensate coming from the region — as well as the possibility that lightly refined condensate may be exempt from a U.S. ban on most crude oil exports — many midstream companies are looking at potential profit in getting the light oil from the South Texas wells to market. From 2009 to 2012, annual U.S. production of...
  • New Englanders Oppose Proposed Pipeline — And The Tariff To Pay For It

    09/04/2014 5:03:43 AM PDT · by thackney · 21 replies
    Mint Press ^ | September 2, 2014 | Phil Zahodiakin
    A proposal to build a pipeline from the fracking fields of Pennsylvania to eastern Massachusetts by late 2018 is sparking concern among many property owners in the path of the pipe. But there’s a twist to this evolving story: a proposed surcharge added to electric bills that would force every ratepayer in New England to help pay for the interstate pipeline, which is expected to cost $2 billion to $6 billion. The route proposed for the pipeline’sMassachusetts segment runs through dense forests, wetlands and small towns in the northern tier of the state. Alternative routes, or modifications to the northern...
  • Japan and India Put Nuclear Energy as a Priority

    09/04/2014 4:59:19 AM PDT · by thackney · 1 replies
    Market Pulse ^ | September 2, 2014 | Alfonso Esparza
    Indian PM Narendra Modi and Japan's Shinzo Abe have agreed at a summit in Tokyo to accelerate talks on a nuclear energy pact. They also agreed to strengthen security ties and Mr Modi welcomed Japan's easing of restrictions on exports of defence equipment and technology. Mr Modi is on his first major foreign visit since winning May's election. The trip is being seen as an attempt by the two democracies to balance the rising weight of China across Asia. Mr Modi arrived in Japan on Saturday and visited the former imperial city of Kyoto over the weekend. "The two prime...
  • Saudis Announce Plan to Build 1st Nuclear Reactor

    09/04/2014 4:57:16 AM PDT · by thackney · 7 replies
    Algemeiner ^ | SEPTEMBER 2, 2014 | Algemeiner
    Energy officials in Saudi Arabia announced Tuesday that they are embarking on a plan to build a nuclear reactor “for peaceful purposes,” Israel’s NRG News reported, quoting the London-based “Al-Hayat” Arabic-language daily. Senior sources in the Muslim kingdom told the newspaper that construction of the reactor is expected to begin before the end of the calendar year. “Construction of the first Saudi nuclear reactor will take ten years, according to the plan, although we hope that we can complete the task in less time,” the newspaper said, quoting Saudi sources. The kingdom’s ultimate goal, the report stated, is to establish...
  • Pirates Attack Products Tanker Off Ivory Coast

    09/03/2014 6:43:14 AM PDT · by thackney · 10 replies
    Rig Zone ^ | Reuters | Reuters
    Armed pirates robbed a petroleum products tanker near Ivory Coast's port of Abidjan, a maritime agency and a private security advisor said on Wednesday, in an indication of the increasing mobility of Nigeria-based gangs. The raid on the tanker came just a day after two failed pirate attacks that occurred just hours apart in waters off Nigeria's southeastern coast, according to the same sources. Pirate attacks in West Africa's Gulf of Guinea, a significant source of oil, cocoa and metals for world markets, have almost doubled from last year, jacking up insurance costs for shipping companies. The vast majority of...