Oil and gas groups, states outline problems with BLM’s fracing rule

The US Bureau of Land Management issued a hydraulic fracturing regulation rule that lacks justification, cannot be administered technically, exceeds the agency’s regulatory authority, and violates federal law, the Independent Petroleum Association of America and Western Energy Alliance jointly said. Source: News

Dow’s Oyster Creek PDH unit reaches full capacity

Dow Chemical Co., Midland, Mich., has fully commissioned a 750,000-tonne/year propane dehydrogenation (PDH) unit as part of the previously announced ethylene production expansion and upgrade project at its Oyster Creek complex in Freeport, Tex. Source: News

Lower fossil fuel prices could affect CCS substantially, speaker says

A wider spread between fossil fuel and renewable energy prices could create both opportunities and challenges beyond enhanced oil recovery (EOR) for carbon capture and storage (CCS) proponents, the executive director of the North American Carbon Capture & Storage Association told a Washington audience. Source: News

Manitok closes on deal for Canadian gas processing assets

Manitok Energy Inc., Calgary, has completed the purchase of natural gas processing and production assets in the Carseland area of its conventional oil and gas reservoirs in southeast Alberta’s Entice lands. Source: News

EIA: US crude inventories gain 3.9 million bbl

US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, rose 3.9 million bbl during the week ended Mar. 4 compared with the previous week’s total, according to the US Energy Information Administration’s Weekly Petroleum Status Report. Last week, inventories jumped 10.4 million bbl. Source: News

Rosneft starts drilling exploratory well offshore Vietnam

OJSC Rosneft said it started drilling an exploratory well offshore Vietnam in the Nam Con Son basin. It’s the first time Rosneft has been drilling operator in international waters. Source: News

Aramco to nearly double natural gas production in decade

Saudi Aramco plans to nearly double its natural gas production to 23 standard bcfd in 10 years, Aramco Chief Executive Officer Amin Nasser told an industry conference in Jubail on Mar. 8. Source: News

MARKET WATCH: Oil prices drop pending US inventory, world oil oversupply concerns

Light, sweet crude oil prices for April delivery on the New York market dropped more than $1/bbl to settle above $36/bbl on Mar. 8, giving up much of the previous day’s gains. Analysts said world oil supplies remain robust while a supply-demand recovery still has yet to begin. Source: News