Crude oil prices rose 80¢/bbl on the New York Sept. 29 to settle slightly above $45/bbl as traders and analysts awaited the weekly government inventory report on crude oil and products, which showed an increase. Source: News
EPA institutes fenceline monitoring in update of refining regulations
The US Environmental Protection Agency required fenceline monitoring for the first time as it issued a final rule updating refinery emissions control requirements. Refiners will be required to install the monitors to measure benzene at the edges of their plant sites to better protect and inform nearby communities, EPA said. Source: News
Deepwater gulf well to start flow in 2017
Freeport-McMoRan Oil & Gas expects to start oil production in 2017 from its Horn Mountain Deep well, which will be tied back to the Horn Mountain truss spar in 5,500 ft of water offshore Louisiana. Source: News
Petrobras confirms extension of Carcara discovery
A third exploratory well drilled by Petroleo Brasileiro SA (Petrobras) in the Carcara area of the ultradeepwater Santos basin again confirmed the presence of good quality light oil of 31º gravity in presalt reservoirs. Source: News
SPE ATCE: Decision quality key to improving multicompany project results
Highlights of a draft technical report on the importance of decision quality in multicompany upstream projects was presented to the Society of Petroleum Engineers’ Annual Technology Conference & Expo (ATCE) in Houston. The goal of the report was to help operators work more seamlessly with joint-venture partners to mitigate cost overruns and schedule slippage by […]
US House passes latest bill to streamline transportation project reviews
The US House has passed, by a 233 to 170 vote, HR 348, which aims to streamline federal reviews of proposed oil and gas, highway, and other transportation projects. Republicans generally supported the bill, while Democrats largely opposed it. The House approved similar bills in the 112th and 113th Congresses. The White House has said […]
Producing states receive guidance on managing induced earthquakes
Officials from oil and natural gas producing states worked with scientists and industry advisors to compile a primer intended as a policy-guiding document to help states develop strategies to manage induced seismicity. Source: News
Badlands advances proposed North Dakota processing plant
Continental Resources Inc., Oklahoma City, has entered a deal with Badlands NGLs LLC, Denver, for the long-term supply of ethane to Badlands’ proposed polyethylene (PE) production plant to be built in North Dakota. Source: News
MARKET WATCH: NYMEX, Brent oil prices slide by more than $1/bbl
Crude oil prices fell more than $1/bbl on both the New York and London markets Sept. 28, which analysts and traders largely attributed to weakness in equities and commodities markets. Meanwhile, ample world oil supplies still exist even though US production has started to decline. Source: News
The fuel price-tax analogy vanishes when prices plunge
If high fuel prices are like a tax increase, shouldn’t low fuel prices be receiving gushes of American welcome? Source: News