Light, sweet crude prices gained modestly on the New York market May 12, holding well above $46/bbl. But oil prices fell in early May 13 trading, which analysts attributed to reaction to an Oil Market Report released May 12 from the International Energy Agency. Source: News
WEA, ND council sue BLM, USFS over sage grouse land use plan changes
The Western Energy Alliance and North Dakota Petroleum Council jointly sued the US Bureau of Land Management and US Forest Service, charging that the agencies developed amended land use plans for the greater sage grouse that impose restrictions on new oil and gas leases and on development of existing leases. Source: News
Meuleman appointed chief technology officer at ION Engineering
Erik Meuleman has been named by ION Engineering as the carbon capture technology firm’s chief technology officer. He will lead ION’s global research and development function and play a key role in shaping ION’s technology roadmap, the firm says. Source: News
IEA: Oil supply surplus to shrink in second half
In its May Oil Market Report, the International Energy Agency states that the global oil market is “staying on course” to be balanced. Source: News
Fusco tabbed as Cheniere president, chief executive officer
Jack A. Fusco has been appointed by Cheniere Energy Inc. as its president and chief executive officer. He succeeds Neal A. Shear, who has served as Cheniere’s interim president and chief executive officer since December 2015. Source: News
ExxonMobil plans upgrading program at Australian refinery
ExxonMobil Corp. subsidiary Mobil Refining Australia Pty. Ltd. is planning a multimillion-dollar (Aus.) investment to execute projects to expand capacity and improve efficiency at its 80,000-b/d Altona refinery in Victoria, 13 km west of Melbourne. Source: News
Eni plans renewable energy near work sites
Eni SPA has begun a project to generate electricity from renewable sources near sites of its oil and gas operations, often on reclaimed land. Source: News
NOPSEMA rejects Wheatstone start-up plan
Australia’s National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) has sent back Chevron Australia’s start-up and operations environment plan for the Wheatstone domestic gas-LNG project off Western Australia saying the plan is not sufficiently robust. Source: News
House members introduce bill to limit ethanol blend in gasoline
Four US House members—Bill Flores (R-Tex.), Peter Welch (D-Vt.), Bob Goodlatte (R-Va.), and Jim Costa (D-Calif.)—introduced legislation that would limit ethanol blended into motor fuels at 9.7% of projected gasoline demand as determined by the US Energy Information Administration. Source: News
OMV lowers capex, finds drilling success on Romania’s Neptun Deep block
OMV AG reported in a May 11 conference call that its overall capital spending was down in this year’s first quarter compared with the same quarter in 2015. Spending for the first quarter was 34% lower than the same period in 2015. Upstream exploration expense was down 24% with a decrease of 13% in dollars […]