The Swiss Federal Tribunal has rejected an arbitration appeal and left intact an order that Israel pay Iran about $1.1 billion plus interest in a longstanding dispute over a crude-oil pipeline the countries built cooperatively before the Islamic Revolution of 1979. Source: News
Power loss shutters unit, cuts rates at Houston refinery
Houston Refining LP, a wholly owned subsidiary of LyondellBasell Industries NV, experienced a localized power loss on Aug. 9 that forced the unplanned shutdown of a sulfur recovery unit and led to reduced processing rates throughout its 268,000-b/d refinery along the Houston Ship Channel. Source: News
Rosneft natural gas production rises 6.9% in first half
OJSC Rosneft said its natural gas production of 33.23 billion cu m in the first half of 2016 was 6.9% higher than a year ago, but hydrocarbon liquids declined 0.1%. Source: News
BHI: US rig count climbs 17 units to 481
Led by a strong surge in oil-directed rigs, especially in Texas, the US drilling rig count climbed 17 units to reach 481 rigs working during the week ended Aug. 12, according to Baker Hughes Inc. data. Overall, however, the total US rig count is down 403 from this week a year ago. Source: News
Western governors reiterate concerns over EPA’s lower ozone limits
The Western Governors Association reiterated concerns that the US Environmental Protection Agency’s plan to reduce ground-level ozone limits under the National Ambient Air Quality Standard (NAAQS) will likely push parts of the West into nonattainment based on high levels of uncontrollable background ozone. Source: News
Eni restarts Val d’Agri oil production in southern Italy
Eni SPA is gradually restarting oil production connected with the Val d’Agri Oil Centre in Viggiano, Italy, which is the subject of a continuing investigation, the company said. Source: News
Fire shutters hydrocracker at Motiva’s Convent refinery
Houston-based Motiva Enterprises LLC is investigating a fire that broke out in a processing unit at its 227,000-b/cd Convent refinery in St. James Parish, La. Source: News
Company reviving old fields gets new name
Hunter Oil Corp. is the new name of Enhanced Oil Resources Inc., Houston, which focuses on improving recoveries at two old oil fields in New Mexico by drilling horizontal wells that can be used for later enhanced recovery. Source: News
MARKET WATCH: NYMEX, Brent oil prices rebound on Saudi comments
The light, sweet crude oil price for September delivery jumped by nearly $1.80/bbl on the New York market Aug. 11 while the Brent contract for October gained nearly $2/bbl on the London market after a Saudi Arabian official suggested the Saudis would work with other producers to stabilize prices. Source: News
WEA sues BLM for not holding quarterly oil, gas lease sales
The Western Energy Alliance has sued the US Bureau of Land Management for discontinuing quarterly onshore oil and gas lease sales. The Aug. 11 action in US District Court for New Mexico asks that the US Department of the Interior agency be directed to abandon its current leasing schedule immediately, rescind guidance documents and instruction […]