Seacrest Capital-backed OKEA AS has agreed to acquire the working interests of AS Norske Shell in Draugen (44.56%) and Gjoa (12%) fields offshore Norway for $556 million. Deal terms call for Shell to retain 80% of the decommissioning liability of the two assets up to an aftertax cap of $78 million subject to CPI indexation […]

JX Nippon Oil & Energy Corp. has completed installation of a petroleum coke electric power generation unit at the Refinery B plant of its 320,200-b/d Mizushima refinery in Okayama Prefecture, Japan.  Source: News

CNX Resources Corp., Canonsburg, Pa., claims to be the first Appalachian basin operator to commit long term to the use of electric pressure pumping for hydraulic fracturing.  Source: News

US President Donald Trump issued an executive order establishing an interagency Ocean Policy Committee, which will replace the National Ocean Council and nine regional planning bodies that President Barack Obama established in 2010. The June 19 action will establish more-streamlined federal coordination and empower states by eliminating duplicative federal bureaucracy, the White House said.  […]

US House Natural Resource Committee Republicans presented a fifth proposal at a June 14 hearing to change federal oil and gas policies that ostensibly would increase states’ involvement in federal oil and gas decisions. Democrats on the Energy and Mineral Resources Subcommittee quickly criticized the discussion draft’s plan to reward states that encourage more leasing […]

Marathon Petroleum Corp. has reached substantial engineering completion for the Tier 3 gasoline sulfur standard reconfiguration project at Marathon Petroleum Corp.’s 571,000-b/d Galveston Bay refinery in Texas City, Tex.  Source: News