US House passes resolution to revoke SEC's foreign payments rule

The US House of Representatives approved legislation under the Congressional Review Act that would nullify a Securities and Exchange requirement for US oil and gas and other extractive industries to disclose payments to foreign governments. Source: News

Chevron reports $415 million in 4Q 2016 earnings

Chevron Corp. reported fourth-quarter 2016 earnings of $415 million compared with a loss of $588 million in fourth-quarter 2015. Full-year 2016 results were a loss of $497 million compared with earnings of $4.6 billion in 2015. Source: News

Watching Government: Tillerson arrives at State

Accountability, honesty, and respect will be core principles at the US Department of State while Rex W. Tillerson is its secretary, he told employees as he arrived there on Feb. 2. He also expressed high regard for the people who work there already. Source: News

GE proposes investment in Nigerian refineries

Nigerian National Petroleum Corp. and US-based General Electric International Inc. are discussing a proposed investment by GE in NNPC’s program to modernize and expand Nigeria’s three state-owned refineries run by subsidiaries Port Harcourt Refining Co Ltd. (PHRC), Warri Refining & Petrochemical Co. Ltd. (WRPC), and Kaduna Refining & Petrochemical Co. Ltd. (KRPC). Source: News

Lundin to spin off non-Norwegian assets

Lundin Petroleum AB, Stockholm, plans to spin off properties in Malaysia, France, and the Netherlands and to focus on offshore Norway. Source: News

Conference: ExxonMobil country manager says Liza to flow at 100,000 b/d

ExxonMobil Corp.’s giant Liza discovery offshore Guyana will have an average production of 100,000 b/d of oil when it begins flowing in 2020 according to the company’s Country Manager Jeff Simons. It also expects to produce 165 MMscfd of natural gas that will be mainly used for reinjection into the wells. Source: News

ExxonMobil's 4Q results include $2-billion impairment charge

ExxonMobil Corp. reported fourth-quarter 2016 earnings of $1.7 billion, including an asset impairment charge of about $2 billion mainly related to dry gas operations with undeveloped acreage in the Rocky Mountains region of the US. Source: News

MARKET WATCH: NYMEX crude oil price gains on IEA report

Light, sweet crude oil prices for March settled at $53.86/bbl on the New York market Feb. 10, up 86¢ after the International Energy Agency said world crude supply dropped by 1.5 million b/d in January from December. Source: News

BLM's methane rule

For one overarching reason, but not the only reason, the US government should ditch the Bureau of Land Management’s rule for methane emissions from oil and gas wells on federal land. Source: News