News
PetroChina Surpasses Exxon In Oil Production
ExxonMobil is no longer the world's biggest publicly traded producer of oil. For the first time, that distinction belongs to PetroChina, a company created by Beijing in 1999 to secure more oil for China’s booming economy.
Natural Gas Affecting Plans For Nuclear Power Plants
The Wall Street Journal reports a cheaper, less risky alternative is dealing a harsh blow to the U.S. nuclear industry. The nuclear industry seemed to be staging a comeback several years ago with 15 power companies proposing as many as 29 new reactors. Today, only two projects are moving off the drawing board, the Journal noted.
Report Says Utica Shale Worth $5 Billion To Ohio Economy
The Utica Shale could be responsible for 65,000 jobs and as much as $5 billion in growth for Ohio by 2014, according to a study released by the Ohio Shale Gas Coalition.
NuStar Invests $365 Million At St. James Crude Terminal
Louisiana Gov. Bobby Jindal and NuStar Energy CEO Curt Anastasio announced a $365 million capital investment by NuStar that will expand the company's St. James Terminal, creating 32 new direct jobs at the facility and an estimated 269 new indirect jobs in southeast Louisiana.
EIA Believes WTI To Average $106 This Year
The Energy Information Administration expects the price of West Texas Intermediate (WTI) crude oil to average about $106 per barrel in 2012, $5 per barrel higher than in the previous Outlook and $11 per barrel higher than the average price last year. Supply disruptions in the Middle East and Africa contributed to a significant increase in world crude oil prices during February.
FERC Rejects Controversial Enterprise Tariff Increase
The Federal Energy Regulatory Commission rejected a major tariff increase sought by the Enterprise TE Products Pipeline Company for the Enterprise TEPPCO pipeline. The increase was hotly opposed by the National Propane Gas Association (NPGA) and many individual shippers.
ExxonMobil, ConocoPhillips, BP and Alaska Pipeline Project Working Together to Commercialize North Slope Natural Gas
ExxonMobil, ConocoPhillips, BP and TransCanada, through its participation in the Alaska Pipeline Project, announced March 30 that they are working together on the next generation of resource development in Alaska.
Energy Growth Has Vast Implications For U.S.
The U.S. is the closest it has been in almost 20 years to achieving energy self-sufficiency, a goal the nation has been pursuing since the 1973 Arab oil embargo triggered a recession and led to lines at gasoline stations.
Contractors Highlight Importance of Keystone XL To U.S. Job Creation
A number of U.S. firms have joined TransCanada Corp. in stating how they will create thousands of American jobs building the Keystone XL pipeline, the largest privately financed infrastructure project now on the books. The companies sought to reinforce the fact that construction of the privately financed $7 billion oil pipeline means work for their employees during a period when the American economy needs jobs - 20,000 jobs in construction and manufacturing.
Jobs Creation: Does The Gas Industry Really Matter?
<em>“At a time when national economic and employment indictors are uncertain at best, shale gas producers and their vast and dynamic supply chain are providing families and communities jobs and economic development. The Marcellus Shale is a case study in the transformative impact of the natural gas industry.” --Kathryn Klaber, President, Marcellus Shale Coalition </em> Before 2010 no one would use the word “transformative” to characterize the natural gas industry. And in the wake of the 2008 global financial meltdown, no one would have viewed natural gas as the fuel for national economic recovery. Nevertheless, in this presidential election year, both jobs and the gas industry should be on everyone’s radar.
Energy Executives Bullish On 2012 Outlook
Executives at U.S. middle market energy companies are bullish on their outlook for 2012. This optimism among executives is fueling growth, as 85% expect to seek financing this year, according to Mike Lorusso, Group Head of CIT Energy (cit.com/energy). These are some of the findings detailed in CIT’s latest research study, “2012 U.S. Energy Sector Outlook” (<a href="http://www.cit.com/about-cit/thought-leadership/cit-outlook-series/energy-outlook-2012/index.htm">www.cit.com/energyoutlook</a>).
China Petroleum Corp. Acquires Big Stake In U.S. Fields
China Petrochemical Corp. (Sinopec) has made a multibillion-dollar deal with Devon Energy Corp. for a one-third stake in five U.S. shale oil and gas fields.
Oil & Gas Activities Pay Double Dividend In Manpower Growth And Local Economics
U.S. oil and gas exploration and production have a primary goal of increased fuel supplies. But they have an additional benefit almost as good as the first – job creation and increased economic growth in the area. The new and increased liquids and gas production coming from the development of shale reservoirs have not only been a boon in energy resources but have immensely helped the economy in job growth and economic benefits to regions, including business and government.
PipeLine Machinery Opens Head Office In Houston
PipeLine Machinery, the pipeline-focused worldwide Caterpillar dealer, officially opened a new headquarters building adjacent to its equipment facilities just north of Houston on February 9.
Editor's Notebook: U.S. On Track To Be Oil Exporter
Let’s repeat that slowly so there’s no misunderstanding: "U.S. On Track To Be Oil Exporter." This was the headline of a report in the Dec. 19 issue of USA Today. According to the article, during the first quarters of 2011, we exported more oil than we imported. This means it’s highly likely that 2011 will be the first time in more than six decades that the United States will be a net exporter of petroleum products, the report said.
China's Demand For Oil Will Equal U.S Demand By 2040
Despite aggressive demand-management policies announced in recent years, China’s oil use could easily reach levels comparable to today’s U.S. levels by 2040, according to a new energy study by the Baker Institute.
Loves Travel Stops Opening 10 CNG Fueling Stations Across Oklahoma
Love’s Travel Stops & Country Stores, an Oklahoma City-based and family-owned operator of 280 travel stops and convenience stores, plans to add 10 publicly accessible compressed natural gas (CNG) fueling stations at existing locations across Oklahoma.
Alaskan Senator Wants State To Help Finance Pipeline
Sen. Mark Begich (D-AK) has urged the state to consider a loan guarantee that would help with financing for a major Alaska natural gas pipeline.
Shale Gas To Be Exported Worldwide In Cheniere-BG Deal
U.S. shale gas could be exported for the first time after an $8 billion deal was reached between the BG Group and Cheniere Energy. The gas is likely to be sent to countries in Asia and Europe, including the UK, after it is liquefied. The price of gas in the U.S. is one-fourth of the price in Asia and about half the price in the UK.
CNG As Vehicle Fuel Looming Larger
We are seeing accelerating interest in the use of compressed natural gas (CNG) as a vehicle fuel in the U.S. This is being spurred by developments including 1) new methods of drilling that have greatly increased gas reserves and 2) by environmental pressure to reduce greenhouse gases. The purpose of this article is to acquaint potential CNG station developers with some of the issues to be dealt with and to provide an overall understanding of the workings of the station.
Explorer Pipeline Marks 40th Anniverary
One of America’s energy pioneers celebrates its 40th anniversary this fall. Explorer Pipeline, which stretches from Lake Charles, LA to just outside of Chicago, shipped its first product on Oct. 25, 1971.
P&GJ's 31st Annual 500 Report: Shale Resources Continue To Improve U.S. Natural Gas Outlook
<em>Pipeline & Gas Journal</em>’s 31st Annual 500 Report is the industry’s most detailed statistical listing of the nation’s energy pipeline systems. As in past years, the report ranks the nation’s top liquids, gas transmission and gas distribution systems. Gas transmission companies are ranked by total miles of pipe while the rank of each liquids pipeline company is determined by yearly crude deliveries.
Energy Exec Offers Bright Outlook For U.S. Energy
Breitling Oil and Gas Corp. was founded in Irving, TX in October 2004 as an independent exploration company willing to invest in state-of-the-art petroleum development throughout the United States, in particular Texas and Oklahoma.
Executives Confident Of Information Security Practices
PwC US has released a new report entitled, “Eye of the Storm,” which provides findings on information security for the oil and gas industry, based on survey responses from 143 senior industry executives. PwC found that despite data exploitation being up across the board, executives remain confident in their security practices as they have a set strategy in place.
Gas Quality Resource Center Proposed By GTI
With the rapid growth of shale gas and burgeoning interest in renewable gas production, today’s natural gas system operators are facing the need to compare the composition of these new supply sources with historical supplies prior to acceptance into their systems.
Remote O&G Monitoring And Automation Needs In Iraq
While its estimated petroleum reserves are on the rise, Iraq’s output is not quite meeting national production targets. Looking to boost production and achieve accurate measurements, the country’s leading officials have moved to upgrade oilfield installations damaged by conflict and lack of investment, as well as establish comprehensive guidelines for the accurate measurement and automation of hydrocarbon production.
The Keystone XL Imperative
I never thought the Keystone XL Pipeline project would be the climactic event in the environment vs. energy debate. Now as we approach the final decision, which rests in President Obama’s hands, I’ll bet that he never expected a proposed pipeline would be one of the defining moments of his administration.
Wood Group Positions Engineering Division for Growth
Wood Group said it is focusing on growing its engineering, production facilities support and gas turbine services businesses following the acquisition of PSN and the disposal of its Well Support division. To facilitate engineering growth, the Engineering division is being restructured into two market-facing groups: Subsea/Pipeline/Riser & Integrity Management and Process & Facilities.
Natural Gas Gains Favor With Power Generators
The rapid growth of Canada's oil sands is expected to dramatically increase its consumption of natural gas over the coming decade, a prospect that stands to help Alberta's gas industry but raise the country's emissions.
Kinder Morgan Acquires SouthTex Treaters
Following hot on the heels of the announcement that Kinder Morgan Energy Partners had agreed to acquire El Paso Corporation, KMP announced Oct. 24 that it has signed a definitive purchase and sale agreement to acquire SouthTex Treaters, a manufacturer, designer and fabricator of natural gas treating plants that remove CO2 and H2S, for approximately $155 million.
- 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
- Malaysia’s Oil Exports to China Surge Amid Broader Import Decline
- Four Petroleum Liquids Pipelines Completed in U.S. Since 2023
- Lighter U.S. Permian Crude Risks Losing Favor with Refiners Due to Processing Challenges
- Saudi Arabia Looking to Expand Pipeline to Reduce Oil Exports via Gulf
- Report: Houston Region Poised to Become a Global Clean Hydrogen Hub
