Po Valley Energy Ltd., Perth, has kept full ownership of its two onshore oil fields in northern Italy northeast of Modena following the blockage of their sale to private UK company Delta Energy Ltd. by a major Delta shareholder. Source: News
Devon restores full-scale operations at Jackfish 1 complex
Devon Energy Corp., Oklahoma City, completed additional facilities work at its Jackfish 1 heavy oil project in the southern Athabasca oil sands region of Alberta, and full-scale operations have been restored. The work was related to minor facility repairs identified during turnaround startup activities. Source: News
MARKET WATCH: Oil benchmark prices supported by ongoing US-Saudi tensions
Crude oil benchmark prices rose moderately on New York and London markets Oct. 15 amid rising US-Saudi tensions after the disappearance and suspected killing of a dissent Saudi journalist. US President Donald Trump has suggested some punishment if the Saudi government is found to have been involved in the disappearance of journalist Jamal Khashoggi who […]
Watching Government: Improving pipeline cybersecurity
The US Departments of Energy and Homeland Security jointly announced a new Pipeline Security Initiative on Oct. 3 as their Oil and Natural Gas Subsector Coordinating Council (ONG SCC) held its final 2018 meeting at DOE. Source: News
API: US petroleum net imports rose strongly on falling exports
The US has reached a new record for crude oil production of 10.8 million b/d over the past 2 months, but petroleum exports decreased by 1.3 million b/d since June, according to a recent industry outlook for the third quarter from the American Petroleum Institute. Source: News
Michigan in new deal or Enbridge to replace Line 5 in straits
Enbridge Inc. will shut down and replace its Line 5 across the Straits of Mackinac with a multiuse utility tunnel that the Calgary energy transmission company will pay for, Michigan Gov. Rick Snyder (R) announced. Source: News
EPA proposes revisions in oil and gas operations’ emissions limits
The US Environmental Protection Agency proposed changes in regulations it issued in 2016 limiting emissions at oil and gas operations. Specifically, it is reconsidering fugitive emissions requirements, wellsite pneumatic pump standards, requirements for certification of closed vent systems, and the alternative means of emissions limitations provisions, EPA said in an Oct. 15 Federal Register notice. […]
NGSA: Record winter gas demand to be matched by record production
US demand for natural gas is projected to reach an all-time high this winter, but soaring production will ably satisfy demand, resulting in flat pressure on prices compared to last winter, the Natural Gas Supply Association said in its 18th annual Winter Outlook forecast of the wholesale winter gas market. Source: News
Oil’s growth market
Whether or not governments aggressively pursue energy sustainability, petrochemicals constitute an important growth market for oil and natural gas. Work should start now to prevent activists from sabotaging the business. Source: News
Climate change positioning
Some oil companies are addressing climate change through various initiatives, including ongoing investments in alternate energy and supporting a new political action committee dedicated to passage of a US carbon tax. Source: News