Global petroleum and other liquid fuels inventory builds averaged 900,000 b/d in 2016, marking the third consecutive year of gains. According to the US Energy Information Administration’s Short-Term Energy Outlook, issued this month, the pace of stock builds is expected to slow considerably to an average of 300,000 b/d in 2017 and 100,000 b/d in […]

US Chamber of Commerce Pres. Thomas J. Donahue called for federal regulatory relief and reforms as a primary component of a new American Growth Agenda. “There is no justification for the regulatory overkill we have seen over the last 8 years,” he said. “An unelected fourth branch of government—the regulatory branch—is holding our small businesses […]

Abu Dhabi Oil Refinery Co. (Takreer), the refining arm of state-owned Abu Dhabi National Oil Co., has confirmed a fire broke out on Jan. 11 at its recently expanded Ruwais refining complex in the UAE, about 240 km west of Abu Dhabi City. Source: News

The federal government should use a new framework to estimate carbon dioxide’s social cost for regulatory impact analysis that would strengthen the scientific basis, provide greater transparency, and improve characterization of the estimates’ uncertainties, a recent report from the National Academies of Sciences, Engineering & Medicine said. Source: News

Final investment decisions (FID) are expected to double globally in 2017 while exploration and production spending will increase for the first time since 2014, according to Wood Mackenzie Ltd.’s global upstream outlook. Source: News

Parsley Energy Inc., Austin, has agreed in several deals to acquire undeveloped acreage and producing oil and gas properties in the Midland and southern Delaware basins for $607 million in cash. Source: News