Archive for July, 2015
Want lower gas prices? Lift American oil export ban – study
Gas prices would be an average of 8 cents per gallon lower if ban not in place The 1970s-era ban on crude oil exports is artificially keeping American gas prices higher than they should be, says a new report from consultancy IHS Inc. IHS argues that the factors central to determining the gas prices at the […]
White House: Keystone XL decision will come before Obama goes
Republicans support Keystone XL, environmental supporters of Democrats oppose it The White House says a decision will be made on the Keystone XL pipeline while President Barack Obama is still in office, as rumours swirl that the long-delayed project is on the verge of rejection. It’s not saying when the decision will come or what it will be. […]
Deepwater Horizon accident drags on BP Q2 earnings
Net loss of $5.82B compared with net income of $3.37B a year earlier, thanks to Deepwater Horizon charges BP reported a second-quarter loss Tuesday after the London-based oil company set aside another $10.8 billion to cover the cost of the Deepwater Horizon accident. The report is the first since BP announced a deal that will provide a […]
American propane market pressured by Canadian imports
Canadian propane imports usually drop off after winter season, but not this year PLATTS NEWS – Putting further pressure on the excess Northeast spot barrels has been rising propane imports from Canada. Canadian propane production has been relatively flat over the last two years at just over 221,000 b/d and is expected to be steady […]
Natural gas: New industrial projects driving demand even higher
Large Gulf Coast methanol and fertilizer plants will be big consumers of natural gas Industrial natural gas consumption has grown steadily since 2009, reversing a decade-old decline, as relatively low prices supported using natural gas as a feedstock for the production of bulk chemicals. Industrial facilities, including methanol plants and ammonia- or urea-based fertilizer plants, consumed […]
Obama will reject Keystone XL after Congress recesses in August – Sen. Hoeven
Critics say Keystone XL would carry “dirtiest oil” that needs to say in the ground A U.S. lawmaker boldly predicted Tuesday that President Barack Obama is about to reject the Keystone XL pipeline, after years of delay and debate. The surprise statement came on floor of the U.S. Senate, from an unexpected source. Sen. John Hoeven, a […]
Hillary Clinton dodges question about approving Keystone XL
As Secretary of State, Hillary Clinton said department should approve proposed pipeline A town-hall spectator who elicited a headline-making non-answer from Hillary Clinton understands perfectly well why she dodged his question about Keystone XL. He understands the pipeline represents a political predicament for the Democratic front-runner. “There’s enormous pressure from both sides,” said Bruce Blodgett, a […]
Goodrich Petroleum sells Eagle Ford assets, retains acreage for future
Goodrich Petroleum intends to pay down debt, drive down drilling and operating costs even further – president Goodrich Petroleum is selling acreage in the Eagle Ford Shale for $118 million, but keeping some of the undeveloped leasehold for future development or sale, the company announced Monday. “The monetization of our proved reserves and associated acreage from our drilling efforts […]
Marcellus, Utica account for 85% increase in American gas production since 2012
Marcellus shale located in Pennsylvania/West Virginia, Utica in Ohio The United States has become a major natural gas producer and much of the recent growth has come from the Marcellus and Utica regions, according to the US Energy Information Administration. Since January 2012, natural gas production in the Marcellus and Utica shale has accounted for 85% of the […]
Political fight coming over EPA’s new fugitive methane reduction program
Industry cautious, eco-activists displeased with Natural Gas STAR Methane Challenge Program, designed to reduce fugitive methane emissions The EPA can’t seem to get it right. Eco-activists want fugitive methane emissions regulated, industry wants voluntary measures, and both sides are uncertain about the Natural Gas STAR Methane Challenge Program, launched Friday. In January, the White House announced a goal of cutting methane […]
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