Flint Hills Resources will start construction this month on an ethanol terminal at Buda, Tex. Source: News
Zarubezhneft to operate Kharyaga PSA
Total SA and Zarubezhneft have agreed to shift 20% and operatorship of the Kharyaga production-sharing agreement to the Russian company. No terms were reported. Source: News
Southwestern Energy to reduce workforce by 1,100
Southwestern Energy Co., Houston, plans to reduce its workforce by more than 1,100 employees resulting “primarily from anticipated lower drilling activity,” the company said on Jan. 21. Source: News
MARKET WATCH: NYMEX crude oil for February drops under $27/bbl
Light, sweet crude oil prices dropped nearly $2 on the New York market Jan. 21, settling at $26.55/bbl for February delivery and hitting a low last seen in 2003. Analysts said oil prices slumped along with declining stock market indexes worldwide, which they attributed to a slowing economy in China. Source: News
Sandridge to shut some Oklahoma disposal wells, reduce volume in others
Sandridge Energy Inc., Oklahoma City, agreed to reduce the volume of wastewaste going into disposal wells in the Medford and Cherokee-Byron areas. After negotiating with the Oklahoma Corporation Commission (OCC), Sandridge agreed to convert some disposal wells to research. Source: News
Tesoro plans biocrude co-development, processing at existing refineries
Tesoro Corp., San Antonio, is launching a program with several renewable energy companies to advance biomass-to-fuels technology for development of biocrude feedstock that the independent refiner-marketer plans to co-process alongside traditional crude at its US refineries. Source: News
Oxy gets $1 billion from Ecuador following decade-long dispute
Occidental Petroleum Corp., Houston, will receive a $1-billion arbitration award from Ecuador to settle a dispute over the 2006 expropriation of its participation contract for Block 15. Source: News
TransCanada, First Nations groups sign deals for Coastal GasLink project
TransCanada Corp. reported that its Coastal GasLink Pipeline Project has signed long-term agreements with Nadleh Whut’en First Nation and West Moberly First Nations. The Coastal GasLink project has now secured 11 project agreements and continues to make “good progress” toward concluding deals with other First Nations along the pipeline route, TransCanada said. Source: News
Shell sees 2015 earnings slide by more than half
Royal Dutch Shell PLC expects its full-year 2015 earnings on a current cost of supplies (CCS) basis excluding identified items at $10.4–10.7 billion, down from $22.6 billion in 2014. Source: News
Still resigns as Laredo president, chief operating officer
Jay P. Still has resigned from his position of president, chief operating officer, and member of the board of Tulsa independent Laredo Petroleum Inc. Source: News