Archive for June, 2016

Plug-in electric vehicle market to grow 62% year over year – Navigant

Plug-in electric vehicle market to grow 62% year over year – Navigant

While plug-in electric vehicle sales have been concentrated on the US West Coast, adoption in Northeastern states expected to grow BOULDER, Colo.- A new report from Navigant Research forecasts significant growth in 2016 American plug-in electric vehicle sales, driven primarily by sub-$40,000 PEVs. The study assesses plug-in electric vehicle sales and populations in the US and Canada, […]

US fossil fuel royalty rules toughened

US fossil fuel royalty rules toughened

New royalty rules to improve transparency of federal coal program By Valerie Volcovici WASHINGTON, June 30 (Reuters) – The Obama administration on Thursday completed new rules for how energy companies value oil, gas and coal extracted from federal land in a reform meant to protect taxpayers’ stake in those sales. The Interior Department updated the […]

California gas price manipulation probe underway

California gas price manipulation probe underway

Exxon, Tesoro, Chevron subpoenaed in California gas price probe By Liz Hampton June 30 (Reuters) – California has issued subpoenas to Valero Energy Corp and Chevron Corp as part of a probe into whether oil refiners in the state have manipulated gasoline prices since 2014, the companies said on Thursday. Shell, Tesoro Corp, Phillips 66, and […]

Expanded Panama Canal reduces shipment time for US LNG to Asian markets

Expanded Panama Canal reduces shipment time for US LNG to Asian markets

EIA estimates LNG traffic through Panam Canal could reach more than 550 vessels annually, or 1-2 vessels per day, by 2021 The newly expanded Panama Canal will be able to accommodate 90 per cent of the world’s current liquefied natural gas (LNG) tankers with LNG-carrying capacity up to 3.9 Bcf according to the US Energy Information Administration. Prior […]

ExxonMobil confirms significant oil discovery – up to 1.4B barrels – offshore Guyana

ExxonMobil confirms significant oil discovery – up to 1.4B barrels – offshore Guyana

Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Nexen Petroleum Guyana Limited holds 25% interest IRVING, Texas- Exxon Mobil Corporation says that drilling results from the Liza-2 well, the second exploration well in the Stabroek block offshore Guyana, confirm a world-class discovery with a recoverable resource of between 800 million and 1.4 billion oil-equivalent barrels. “We […]

Fewer imports, higher refinery runs prompted lower US crude oil inventories

Fewer imports, higher refinery runs prompted lower US crude oil inventories

US gasoline stocks now 11.46% above 5-year average after being in line with average until end of 2015 US Energy Information Administration data Wednesday showed that a reduction in US crude oil imports and an increase in refinery utilization pulled more crude out of storage during the latest reporting week, according to S&P Global Platts. US […]

Mexico, U.S., Canada amend NAFTA origin rules on host of products

Mexico, U.S., Canada amend NAFTA origin rules on host of products

NAFTA rules on natural gas to be amended June 29 (Reuters) – Mexico, the United States and Canada have signed off on amending the North American Free Trade Agreement (NAFTA) to liberalize rules of origin for a host of products, the Canadian prime minister’s Web site said. Products covered include natural gas, pharmaceuticals, cosmetics, rubber, metals, […]

ETE officially terminates Williams merger, Williams prepared to fight

ETE officially terminates Williams merger, Williams prepared to fight

On June 20th, a Williams Cos Inc board member testified she felt pressured by her own company to support the $20 billion merger DALLAS-Energy Transfer Equity, L.P. announced termination of its merger agreement with The Williams Companies, Inc. effective June 29. This news comes as Williams announced that shareholders on June 27th voted in favour of the merger. “During […]

North American leaders pledge to up clean energy production to 50% by 2025

North American leaders pledge to up clean energy production to 50% by 2025

North American leaders vow to boost trade despite threats By Roberta Rampton and David Ljunggren OTTAWA, June 29 (Reuters) – Canada, the United States and Mexico on Wednesday mounted a fierce defense of free trade, vowing to deepen economic ties despite shifting political debate about the value of globalization. U.S. President Barack Obama and Mexican […]

Stripper wells accounted for 10% of US oil production in 2015 – EIA

Stripper wells accounted for 10% of US oil production in 2015 – EIA

Production share of oil stripper wells has fallen from high of 19% in 2008 to 10% in 2015 Stripper wells, or wells that produce small volumes, are an important but decreasing share of total US oil and natural gas production, according to the US Energy Information Administration. These wells are characterized as producing no more than 15 […]