ExxonMobil Corp. has set its capital spending budget for 2017 at $22 billion, up 16% from 2016. Capital and exploration expenses through the end of the decade will average $25 billion/year. Source: News
EIA: US crude stockpiles rise in eighth straight week
The US Energy Information Administration’s Petroleum Status Report has now shown eight consecutive weekly increases in US commercial crude oil inventories. Source: News
Oil and gas groups welcome White House’s change in tone
US oil and gas associations welcome changes in the policymaking tone at the White House and look forward to working with the Trump administration, officials said in statements before and after US President Donald J. Trump’s address to a joint session of Congress on Feb. 28. Source: News
Cooper Energy lets subsea contract for Sole field
Cooper Energy Ltd., Adelaide, has let a contract for the fabrication and installation of the subsea infrastructure at its Sole natural gas field development in eastern Bass Strait offshore Victoria to global engineering firm Subsea 7. Source: News
Nakamura to lead Inpex exploration, exploitation unit
Shinichi Nakamura has been named general manager, Exploration and Exploitation Unit of the Domestic Project Division at Inpex Corp., Tokyo. Source: News
MARKET WATCH: NYMEX oil prices hold fairly steady pending inventory report
Light, sweet crude oil prices split on the New York market Feb. 28 with the April contract dropping slightly and the May contract gaining a penny. The US oil benchmark was gaining slightly in early Mar. 1 trading before the weekly government report on oil and product inventories. Source: News
Ozone limits implementation reform bill reintroduced in US Senate
Sen. Jeff Flake (R-Ariz.) has reintroduced legislation aimed at giving states and communities more time to implement 2015 ground-level ozone limits under National Ambient Air Quality Standards. The measure, S. 452, also would revise the US Environmental Protection Agency’s existing timeline for reviewing NAAQS and air-quality criteria from 5-year intervals to 10-year intervals. Source: […]
Fox named Steelhead LNG chief financial advisor
Kerri L. Fox has been added as chief financial advisor to Steelhead LNG Corp. She previously was head of BBVA Securities Inc.’s project finance North America business. Source: News
Marietta joins Flotek as senior vice-president
Matt Marietta has joined Flotek Industries Inc. as senior vice-president of corporate development and investor relations effective Mar. 1. Source: News
Total exits Georgina basin play in Queensland
Total SA has decided not to proceed with the Stage 2 farm-in into permits in the onshore southern Georgina basin of western Queensland held by Central Petroleum Ltd., Brisbane. Source: News