US petroleum demand, as measured by total domestic petroleum deliveries, was 20.8 million b/d in October, which was up by 3.3% from September and 3.9% compared with October 2017. This is according to the American Petroleum Institute’s latest monthly statistical report. Source: News
BLM intends to prepare integrated activity plan for NPR-A
The US Bureau of Land Management said it will publish a notice of intent to begin development of a new integrated activity plan and associated environmental impact statement for the National Petroleum Reserve-Alaska. BLM’s Nov. 20 announcement came in response to Secretarial Order 3352 which called for a new IAP and EIS in June 2017 […]
White Rose, shut in by storm, leaks oil
Husky Energy Inc. used remotely operated vehicles to investigate the cause of a Nov. 16 oil leak at White Rose field offshore Newfoundland and Labrador, where production had been shut in the previous day because of severe weather. The company said all production wells were secure and believed the leak occurred at a subsea flowline. […]
Castello Branco to become CEO of Petrobras
Roberto Castello Branco, a past advocate for privatization of Petrobras, will become chief executive officer of the Brazilian oil and company. President-elect Jair Bolsonaro announced the appointment, according to press reports, to be effective when the new administration takes office on Jan. 1. But he made clear that privatization of Petrobras is not planned. […]
MARKET WATCH: NYMEX oil prices holding under $57/bbl for December
Light, sweet crude oil prices settled moderately higher Nov. 19 on the New York market but prices were falling in early trading Nov. 20 amid thin trading volumes with the approach of the US Thanksgiving holiday. Source: News
API official asks EPA not to breach blend wall in upcoming quotas
An American Petroleum Institute official urged the US Environmental Protection Agency to protect consumers from the ethanol blend wall—the 10% level in the national gasoline supply beyond that refiners and automakers say engines could be damaged—and to reject efforts by the corn ethanol lobby to reallocate volumes from small refinery exemptions. Source: News
Industry groups ask Congress not to extend EV credit
The American Fuel & Petrochemical Manufacturers, American Petroleum Institute, and three other national trade associations asked Republican leaders on Nov. 19 not to extend or expand the federal tax credit for electric vehicles (EV) during the rest of this session of the US Congress. Source: News
Trump to nominate acting EPA chief as agency’s administrator
US President Donald Trump said he intends to nominate acting US Environmental Protection Agency Administrator Andrew R. Wheeler as the agency’s administrator. The announcement came during a Nov. 16 Medal of Freedom ceremony at the White House attended by Wheeler and other administration officials. Source: News
Aethon III to buy QEP Resources’ Northwest Louisiana gas assets
Aethon III, a unit of Dallas private investment firm Aethon Energy Management LLC, agreed to buy Haynesville-Cotton Valley natural gas assets from QEP Resources Inc. of Denver. QEP Pres. and Chief Executive Officer Chuck Stanley said the pending $735-million sale is “an important next step in our process of becoming a Permian pure-play company.” […]
Cimarex to buy Resolute Energy for $1.6 billion
Cimarex Energy Co., Denver, agreed to acquire Resolute Energy Corp. in a cash-stock transaction worth a total of $1.6 billion, including $710 million of Resolute’s long-term debt. Thomas E. Jorden, Cimarex chairman, president, and chief executive officer, said the acquisition fits the company’s existing Reeves County, Tex., position in the Permian basin. Source: News