News
Killing Keystone XL, Obama Says Pipeline Not in US Interests
WASHINGTON (AP) — President Barack Obama rejected an application to build the Keystone XL pipeline Friday after 7 years of federal review, declaring the proposed project wouldn't serve U.S. national interests and would have undercut America's global leadership on climate change.
State Dept. Rejects TransCanada Request for Keystone Delay
WASHINGTON (AP) — The Obama administration said Wednesday it is continuing a review of the proposed Keystone XL oil pipeline, despite a request by the project's developer to suspend the review. If granted, a delay could have put off a decision on the high-profile project until the next president takes office in 2017. President Barack Obama has yet to say whether he would approve or reject the pipeline, but the Democrats running for president have all said they oppose it while Republican candidates support it.
Oklahoma Town Knows How to Survive Oil Busts: a Backup Plan
PONCA CITY, OK (AP) — It's a slow day at Fun Bob's shaved ice stand though the temperature is in the 80s. With summer over, only an occasional car pulls up to the blue-and-white-striped shack where David Anderson sits atop a picnic table and explains his plan for replacing the income from the oilfield job he lost this year. The new entrepreneur is adding coffee, cappuccinos and lattes to his menu. With a bit of luck, he hopes he'll no longer have to endure the boom-and-bust cycles that have been a part of life in this oil town for more than a century.
Keystone Backers Look to Obama's Successor to Make the Call
WASHINGTON (AP) — The company pleading for permission to build the Keystone XL pipeline looked beyond President Barack Obama on Tuesday in apparent hopes a future Republican president would green-light the project. But the administration signaled it was in no mood to hand off the decision to the winner of the 2016 election.
TransCanada Asks US to Suspend Pipeline Application Review
TORONTO (AP) — After waiting seven years for a decision, the company behind the proposed Keystone XL pipeline from Canada to Texas has asked the U.S. State Department to suspend its review of the project. The move comes as the Obama administration increasingly appeared likely to reject the pipeline permit application. TransCanada said Monday it had sent a letter to Secretary of State John Kerry requesting that the State Department suspend its review of the pipeline application. Until recently, it would have been unimaginable for the Calgary, Alberta-based company to ask for a delay.
Midstream Segment Boosts 3rd Quarter Deal Activity, According to PwC US
HOUSTON – Megadeals in the midstream segment dominated U.S. oil and gas deal value despite a slow-down in capital markets in the third quarter of 2015, according to PwC US. In total, there were 14 midstream deals accounting for $63.5 billion in the third quarter of 2015, or 70% of overall deal value.
Government: Senate Hears Criticism of Upcoming Gas Transmission Proposal
INGAA CEO Don Santa showed increasing frustration with PHMSA’s continued failure to move forward with important pipeline safety regulations. At Senate hearings Sept. 29, he said gas transmission pipelines are hesitant to make extensive safety investments now since those investments could be proved inadequate or wrong-headed once PHMSA finally publishes an upcoming safety rule containing numerous changes dictated by the 2011 Pipeline Safety, Regulatory Certainty, and Job Creation Act.
Nepal Turns to China for Fuel after India Restricts Supply
KATHMANDU, Nepal (AP) — Fuel-starved Nepal has signed an agreement with China to import gasoline, diesel and cooking gas, effectively ending a monopoly on supply from India, which has restricted fuel convoys as a result of political protests in the Himalayan nation. The decision to import Chinese oil amid severe shortages has brought China a step closer to Nepal, which traditionally is more influenced by India in the south. The two Asian giants have been jostling for influence in landlocked Nepal.
Mexico Gains Final Permission for US Crude Oil Imports
MEXICO CITY (AP) — The U.S. has given Mexico final permission to import about 75,000 barrels of light crude per day from north of the border. In return, Mexico will send heavier crude to U.S. Gulf coast refineries. The permit applies for one year. Mexico's state-owned Pemex oil company said Wednesday the arrangement will allow better logistics and refinery use, and reduce transport costs. Mexico is a major crude oil exporter, but sometimes is squeezed to produce refined products like gasoline. In August, the U.S. lifted a decades-old ban on crude oil exports.
Why Does Firewood Cost so Much? Fracking's Part of It
CONCORD, N.H. (AP) — Northeasterners who are digging deeper into their pockets to pay for firewood this season can add a new scapegoat to the roster of usual market forces: fracking. Yep, a timber industry representative in New Hampshire said those hydraulic fracturing well sites in Pennsylvania's Marcellus Shale formation to suck natural gas out of the ground are using construction "mats" made of hardwood logs — think of the corduroy roads seen in sepia-toned photographs from the 1800s — to get heavy equipment over mucky ground, wetlands or soft soils.
Is Oil Trending? How Twitter Influences Oil Price Volatility
Crude oil prices don't care what's #trending. Just as negativity lingers, volatility breeds more volatility. Wild periods repeat and feed upon themselves. In the global marketplace, dramatic swings in Asia can spread to the West with ferocity.
United Arab Emirates Plans to Increase Crude Oil, Natural Gas Production
The United Arab Emirates (UAE) was the world's sixth-largest oil producer in 2014, and the second-largest producer of petroleum and other liquids inOPEC, behind only Saudi Arabia. Because the prospects for further oil discoveries in the UAE are low, the UAE is relying on the application of enhanced oil recovery (EOR) techniques in mature oil fields to increase production.
Despite US-Led Campaign, Islamic State Rakes in Oil Earnings
BAGHDAD (AP) — The Islamic State (IS) rakes in up to $50 million a month from selling crude from oilfields under its control in Iraq and Syria, part of a well-run industry that U.S. diplomacy and airstrikes have so far failed to shut down, according to Iraqi intelligence and U.S. officials.
Silver Linings for Energy Sector in Canada with New Liberal Government
Canada ushered in a new era Oct. 19, as voters handed the Liberal Party a majority government. But what will the new government mean for Canada’s oil and gas sector? Incoming Prime Minister Justin Trudeau has staked out several positions on major pipeline projects in Canada. First and foremost, he has supported the Keystone XL pipeline. However, there is growing speculation that President Barack Obama may reject the pipeline, perhaps as soon as this week. That would provide political cover for Trudeau, who may support the pipeline, but hasn’t made the project a high priority.
In New England, Low Heating Oil Prices Buy Some Time
PORTLAND, Maine (AP) — New England is getting another break on heating oil prices this winter, with potential savings of hundreds of dollars per customer, providing breathing room for a region with some of the nation's highest energy costs. But some officials worry lower prices will lead to complacency on efforts to improve efficiency. Low oil and propane prices already have made it more difficult for gas distribution companies that are trying to expand their service areas in the region. Sales of energy-efficient automated pellet furnaces also have flagged because of lower oil prices.
Interior Department Curbs Future Arctic Offshore Drilling
ANCHORAGE, Alaska (AP) — The Interior Department announced Friday it is canceling future lease sales and will not extend current leases in Arctic waters off Alaska's northern coast, a decision that significantly reduces the chances for future Arctic offshore drilling. The news follows a Sept. 28 announcement by Royal Dutch Shell that it would cease exploration in the Chukchi and Beaufort seas after spending upward of $7 billion on Arctic exploration. The company cited disappointing results from a well drilled in the Chukchi and the unpredictable federal regulatory environment.
Is Oil and Gas Fire Sale about to Start?
Much has been written about the mounting pile of debt for U.S. oil companies (not to mention the well-known Brazilian oil giant).
Snelsons New Leader Spreading the Word on Range of Pipeline Services
Snelson Companies opened its doors in 1946 as a small family-owned plumbing and heating business in Sedro-Woolley, WA. Frank Snelson, Sr. opened and ran the business with his three sons, Frank Jr., Jack and Bill. Bill, the youngest of the three, took over for his father in 1957. By 1966, Snelson was among the top hundred mechanical contracting firms in the U.S.
ANSI/API Recommended Practice 1173 Released; What Does It Means for Pipeline Safety?
On July 8, 2015, the American Petroleum Institute (API) released the first edition of ANSI/API Recommended Practice (RP) 1173 Pipeline Safety Management Systems. As an ANSI designated standards document, the RP became the national standard for pipeline safety management systems (PSMSs) in the U.S.
Music Worlds Loss Became Energys Gain
Jon Ecker would seem to have it all: an expert researcher, a successful entrepreneur, and a passion for the energy industry. Put it all together and you have an important piece of Genscape Inc., an analytical intelligence firm that has emerged as one of the leading information providers in the oil and natural gas businesses.
Can the Panama Canal Fulfill Its Global LNG Promise?
After delays, strikes, and cost overruns, the Panama Canal expansion is finally set to open in April 2016. But the global energy landscape has changed in the eight years since construction began, with opportunities first expanding and now, potentially, contracting. The question today is whether the new canal can still fulfill a promise to transform global LNG trade.
Where do Oil Majors Really Stand on Climate Change?
Oil majors have been present in the renewable energy space for years. But with momentum building around the Paris COP21 climate talks at the end of the year, their focus has changed. Traditional energy players are positioning themselves in the debate on carbon pricing and emissions reductions, rather than wind and solar. Greater engagement by oil companies should be welcomed as cooperation between the public and private sectors will be critical to moving the conversation forward both in Paris and beyond.
Egypt Gas Find Sparks Panic in Israel about Israeli Reserves
Italian major Eni, on Aug. 30, announced the discovery of a supergiant gas field in the Mediterranean Sea off the coast of Egypt. The Zohr field is estimated to hold 30 Tcf of natural gas (5.5 Bbbls oil equivalent), though Eni believes more could be found. As it stands, the potential reserves represent the largest discovery in Egypt and the Mediterranean, topping Israel’s 16-Tcf Leviathan field.
House OKs Lifting 40-year-old US Ban on Oil Exports
WASHINGTON (AP) — Defying a White House veto threat, the Republican-controlled House on Friday approved a bill to lift a 40-year-old U.S. ban on crude oil exports. The House approved the bill on a 261-159 vote. Supporters said an ongoing boom in oil and gas drilling has made the 1970s-era restrictions obsolete. Lifting the export ban would lower prices at the pump, create jobs and boost the economy, said House Speaker John Boehner.
Judge Gives Final Approval for $338 Million Oil Train Settlement
PORTLAND, Maine (AP) — A U.S. bankruptcy judge Friday approved a $338 million settlement fund for victims of the fiery 2013 oil train derailment that claimed 47 lives in Quebec, clearing the way for payments to victims by year's end. Judge Peter Cary announced his approval after Canadian Pacific dropped its objection to the settlement plan and after a Canadian judge gave conditional approval Thursday. He praised attorneys for working together to get a substantial settlement in place as quickly as possible.
SoCalGas Engages Stakeholders Early, Often in Pipeline Safety Projects
In the current phase of the pipeline safety enhancement plan (PSEP), SoCalGas and San Diego Gas & Electric will test and replace about 1,000 miles of pipe throughout the system. While much of the construction work takes place in fairly remote locations, a significant portion is found in busy populated areas. Whether the work is in cities or unincorporated counties, in urban or rural space, customers and the local community are affected. Long before we received approval for PSEP, we knew community and customer outreach would be a critical factor for success.
Keystone XL Developer Seeks Different Approval for Route
LINCOLN, Neb. (AP) — TransCanada is taking steps to circumvent one of the major roadblocks in Nebraska to the building of the Keystone XL pipeline. But in seeking approval Monday for the same contentious route through the state, the company could create another round of lengthy delays in an already drawn-out process.
Oil Traders Finally Get some Bullish News
Crude prices are off to a good start this week, jumping by more than 2% on Oct. 5 following several pieces of bullish news. First, Baker Hughes reported a sharp contraction in the rig count last Friday, with oil rigs falling by 26, the largest decline in months. Oil and gas rigs are now down by more than 1,100 since October 2014.
North Dakota Taxable Sales Plummet as Rig Count Faulters
BISMARCK, N.D. (AP) — North Dakota's taxable sales and purchases dropped more than 16% during April, May and June compared to the same quarter a year ago because of a decline in activity in the western oil patch. It is only the second such quarterly decline since 2009, but officials say they're not surprised nor too concerned given the tremendous growth in taxable sales and purchases the state has experienced in recent years.
Alaska Facing Tough Choices Without Arctic Oil
The disappointing exploration results in the Chukchi Sea for Royal Dutch Shell was a huge blow to the company, and will set back oil development in the Arctic indefinitely. After spending $7 billion and eight years, walking away with nothing is hard to stomach. But, Shell can always go elsewhere. Shortly after Shell announced that it was scrapping its entire Arctic Alaska campaign, Reuters reported that Shell won a bid to explore for oil and gas in the Black Sea in Bulgarian waters. An exploration deal could be finalized in October.
- Texas Waha Hub Gas Prices Plunge to Record Lows, Hit Negative Territory
- Williams Seeks Emergency Certificate to Operate $1 Billion Mid-Atlantic Gas Pipeline After Court Reversal
- Texas Oil Pipelines Near Max Capacity, Threatening Future Export Limits
- Energy Transfer Subsidiary Selects KTJV for Lake Charles LNG Export Project
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- Saudi Arabia Looking to Expand Pipeline to Reduce Oil Exports via Gulf
- Report: Houston Region Poised to Become a Global Clean Hydrogen Hub
- Texas Startup Endeavors Again to Build First Major U.S. Oil Refinery Since 1977
- Alaska Greenlights Enstar’s $57 Million Pipeline to Boost LNG Imports
- Texas Waha Hub Gas Prices Plunge to Record Lows, Hit Negative Territory
