The US Department of the Interior said on Oct. 16 that it will cancel the two potential Arctic offshore lease sales scheduled under the current 5-year offshore oil and gas leasing program for 2012-2017. The agency cited “current market conditions and low industry interest” as reasons for the move. Source: News
Solutions elusive for renewable fuels subsidy, forum speakers say
A combination of dramatically changed market conditions and competing subsidies and penalties has created problems with the federal renewable fuels subsidy, some speakers at a Brookings Institution discussion of the program suggested. But others were equally adamant that the program is working 10 years after it was established under the 2005 Energy Policy Act. […]
Celanese JV commissions Texas methanol plant
Fairway Methanol LLC, a 50-50 joint venture of Celanese Corp., Dallas, and Mitsui & Co. Ltd., Tokyo, has commissioned a grassroots methanol plant at Celanese’s integrated chemical production complex in Clear Lake, Tex. Source: News
Oil company chiefs back climate-change pact
The chief executives of 10 large oil and gas companies have agreed to collaborate on cutting emissions of greenhouse gases, calling for an international agreement on climate change at the “COP21” summit next December in Paris. Source: News
BHI: US rig count down 8 in 8th straight week of losses
Anchored by a 10-unit drop in oil-directed rigs, the US drilling rig count lost 8 units to settle at 787 rigs working during the week ended Oct. 16, according to data from Baker Hughes Inc. Source: News
Par Petroleum to change name, appoint new CEO
Par Petroleum Corp., Houston, will change its name to Par Pacific Holdings Inc., effective Oct. 20, “to more accurately reflect its growth strategy of building and acquiring market-leading businesses.” Source: News
Shell issues force majeure after upset at Singapore ethylene complex
Royal Dutch Shell PLC has declared a force majeure on base chemical products from the Pulau Bukom manufacturing site on Bukom Island, Singapore, following a disruption to operations at its recently expanded ethylene cracker complex (ECC). Source: News
MEO drops Heron field permit
After many years of trying to prove up a commercial project, MEO Australia Ltd. has finally bitten the bullet and relinquished its interest in the Heron gas discovery in permit NT/P68 in the Timor Sea. Source: News
First cargo shipped from Gladstone LNG
The Santos Ltd.-led $18 billion Gladstone LNG (GLNG) project on Curtis Island in Queensland has shipped its first cargo of LNG. Source: News
North Dakota PUC approves new Bakken crude oil pipeline
The North Dakota Public Service Commission has approved an application to build the NST Express LLC crude oil pipeline in McKenzie County. The pipeline would have maximum capacity of 100,000 b/d. Source: News