Noting that she appreciates the Trump administration’s more favorable attitude toward US oil and gas producers than its immediate predecessor’s, an Independent Petroleum Association of America official called on the White House to promptly fill leadership vacancies at two key federal energy transportation regulatory agencies. Source: News
Shell to divest nearly all of its Canadian oil sands interests for $7.25 billion
Royal Dutch Shell PLC has agreed to sell all of its in-situ and undeveloped oil sands interests in Canada and reduce its share in the Athabasca Oil Sands Project (AOSP) to 10% from 60% in exchange for $7.25 billion. Source: News
MARKET WATCH: Crude oil prices fall after record US inventory increase
Light, sweet crude oil prices plummeted on both the New York and London markets on Mar. 8 following a record increase in US crude oil inventories, excluding the Strategic Petroleum Reserve. Source: News
Senate Democrats urge Trump to make bipartisan appointments to FERC
US Senate Democrats called on President Donald J. Trump to fill vacancies promptly at the Federal Energy Regulatory Commission with Democrats as well as Republicans. FERC has not had a quorum since Feb. 3, when the resignation of its former chairman, Norman Bay, became effective after Trump replaced him in that post. Source: News
UKCS decommissioning taxation due study
The UK government will study changes sought by the offshore oil and gas industry to tax rules affecting sales of offshore equipment in late years of operation. Source: News
EIA: US crude stocks climb 8.2 million bbl in 9th straight weekly rise
US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, increased 8.2 million bbl during the week ended Mar. 3 compared with the previous week’s total, according to the US Energy Information Administration’s Petroleum Status Report. Source: News
Trinidad and Tobago methanol plant closures could trigger price spike
Global methanol prices could rise following a report from Methanol Holdings (Trinidad) Ltd. (MHTL) that it will shutter two of its methanol plants in Trinidad and Tobago because of ongoing natural gas curtailments in the Caribbean twin-island nation. Source: News
Chevron unit starts Mafumeira Sul production offshore Angola
Chevron Corp. said its subsidiary Cabinda Gulf Oil Co. Ltd. (Cabgoc), has started oil and natural gas production from its main Mafumeira Sul platform offshore Angola. Early production from the second-stage development started in October 2016 using a temporary production system. Source: News
India describes new open-acreage licensing
The government of India will use revenue-sharing in an open-acreage, exploration and production licensing scheme for which details are beginning to emerge. Source: News
Senate follows House, votes to disapprove BLM Planning 2.0 rule
The US Senate passed a Congressional Review Act (CRA) resolution along party lines to revoke the US Bureau of Land Management’s Planning 2.0 rule by 51 to 48 votes. The Mar. 7 action sent H.J. Res 44 to the White House for President Donald J. Trump’s signature a month after it passed the House by […]