US Chamber of Commerce Pres. Thomas J. Donahue called for federal regulatory relief and reforms as a primary component of a new American Growth Agenda. “There is no justification for the regulatory overkill we have seen over the last 8 years,” he said. “An unelected fourth branch of government—the regulatory branch—is holding our small businesses […]
Takreer reports fire at Ruwais refinery
Abu Dhabi Oil Refinery Co. (Takreer), the refining arm of state-owned Abu Dhabi National Oil Co., has confirmed a fire broke out on Jan. 11 at its recently expanded Ruwais refining complex in the UAE, about 240 km west of Abu Dhabi City. Source: News
Report calls for new framework to estimate social costs of carbon
The federal government should use a new framework to estimate carbon dioxide’s social cost for regulatory impact analysis that would strengthen the scientific basis, provide greater transparency, and improve characterization of the estimates’ uncertainties, a recent report from the National Academies of Sciences, Engineering & Medicine said. Source: News
WoodMac: New upstream projects to double globally in 2017
Final investment decisions (FID) are expected to double globally in 2017 while exploration and production spending will increase for the first time since 2014, according to Wood Mackenzie Ltd.’s global upstream outlook. Source: News
Parsley continues Midland, Delaware basin expansions in multiple deals
Parsley Energy Inc., Austin, has agreed in several deals to acquire undeveloped acreage and producing oil and gas properties in the Midland and southern Delaware basins for $607 million in cash. Source: News
Al Falasi named Dragon Oil chief executive officer
Saif Humaid Al Falasi, chief executive officer of ENOC Group, Dubai, has been named CEO of ENOC subsidiary Dragon Oil. Source: News
Coats Rose expands oil and gas section
Roger D. Scales, Dan G. Blake Jr., and Jeffrey W. Hodges have joined Coats Rose PC, Houston, in an expansion of the law firm’s oil and gas section. Source: News
EIA: US crude stockpiles gain 4.1 million bbl
US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, increased 4.1 million bbl during the week ended Jan. 6 from the previous week’s total, according to the US Energy Information Administration’s Petroleum Status Report. Source: News
BLM amends oil shale rule to let royalty rates be set lease-by-lease
The US Bureau of Land Management announced final amendments to federal oil share regulations that give the Secretary of the Interior flexibility in setting rates lease-by-lease and require oil shale operations to include environmental protection plans. Source: News
MARKET WATCH: NYMEX February contract settles below $51/bbl
The light, sweet crude oil contract for February delivery dropped more than $1/bbl on the New York market Jan. 10, but prices were trading higher on early Jan. 11 pending release of the weekly US oil and products report. Source: News