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November 12, 2012
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News for the oil and natural gas industry

  Top Story 
  • SEC denies request to postpone foreign payment disclosure rule
    A petition by the American Petroleum Institute and other groups to delay rules that would require oil and mining firms to report payments to foreign governments was rejected by the Securities and Exchange Commission. The SEC found no reason for a delay and said the groups "failed to carry their burden to demonstrate imminent, irreparable harm." "We've been working hard to increase transparency for a decade, but this rule could interfere with ongoing efforts by making U.S. firms less competitive against state owned firms in China and Russia that have no interest in transparency," said Justin Spickard, API's director of federal relations. The Hill/E2 Wire blog (11/9) LinkedInFacebookTwitterEmail this Story
Bakken Product Markets & Takeaway Capacity Annual Congress
Jan 30-31, Denver, CO: Bringing together executive leaders from Bakken E&P, pipeline, refinery and rail companies who are actively producing, forecasting, investing in and driving forward the infrastructure that will take Bakken profitability to the next level. Register Now - Save $200 Before December 7.
  Industry News 
  • LNG project costs to reach $19 billion, Exxon says
    Costs related to ExxonMobil's Papua New Guinea liquefied natural gas project are expected to reach $19 billion due to foreign exchange impacts and issues with landowners and workers, the company said. The project, however, remains on track for a 2014 startup, Exxon said, and the production capacity forecast has been raised to as much as 7.6 million tons annually. Reuters (11/12) LinkedInFacebookTwitterEmail this Story
  • Other News
Reducing Material Losses with Better Yield Accounting
Webinar — Tuesday, November 13th

Refining and petrochemical companies require continually tighter controls over material losses. Learn how a new yield accounting solution can improve accounting of raw material, inventory, and end product to reduce unaccounted and real losses. The end result is a dramatically improved bottom line - for a typical refinery that's about $8.5M/year.
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  Exploration & Production 
  • U.S. could soon top Saudi Arabia in oil production
    The U.S. could become the largest oil producer in the world due to the shale oil and natural gas drilling boom, writes Keith Mauck, publisher of According to IHS CERA, nearly 1.8 million jobs in the U.S. are supported by the shale drilling boom, and it is expected to generate 1.3 million jobs more by 2020. However, unsupported claims about the negative effects of hydraulic fracturing, along with duplicative drilling regulations, could jeopardize the country's push for energy security, Mauck writes. The Examiner (Washington, D.C.) (11/6) LinkedInFacebookTwitterEmail this Story
  Sponsored Poll 
  • What was the biggest exploration and production story of 2012?
The continued boom in the Bakken Shale
The return to prespill offshore-oil production levels
Higher estimates of Marcellus Shale reserves
Shell's offshore drilling in Alaska's Beaufort and Chukchi seas

  Policy Watch 
  • Interior seeks shale oil development limits in 3 western states
    Shale oil development would be prohibited in about 1.6 million acres of public land in Colorado, Utah and Wyoming under a proposal from the Department of the Interior. The American Petroleum Institute said it was disappointed with the plan. "This is another step in the wrong direction that limits development and investment in one of the nation’s most energy-rich areas and goes against a prior government decision that would allow for research and development over a much wider geographical area," API said. The Hill/E2 Wire blog (11/9) LinkedInFacebookTwitterEmail this Story
  • Obama, Congress need to reach deal on offshore energy
    President Barack Obama and Congress need to strike a deal on opening more offshore areas to oil and natural gas development, which would help generate more American jobs and revenue, writes Randall Luthi, president of the National Ocean Industry Association. Such a bill cleared the House of Representatives earlier in the year, while the Senate has yet to address a similar measure. "I hope they will make the easy call to open up more of the OCS to oil and natural gas exploration and production, so that Americans can reap the benefits of the added energy security, jobs and revenue that increased access will bring," Luthi writes. The Hill/Floor Action blog (11/9) LinkedInFacebookTwitterEmail this Story
  • Expert sees tougher policies for industry in Obama's new term
    The oil and natural gas industry will encounter tougher policies during the next four years of President Barack Obama's administration, said John Kneiss, Hart Energy's director for North America. "There will be, in my mind, a dramatic push by the agency to justify taking on a national regulatory scope for hydraulic fracturing," Kneiss said. The industry, however, will score a victory on TransCanada's Keystone XL pipeline, he added. (11/9) LinkedInFacebookTwitterEmail this Story
  • Firms are concerned with federal permitting procedures
    Some energy firms believe permitting concerns and weak natural gas prices are key issues for U.S. producers, executives said during an Independent Petroleum Association of America conference. Securing approval to drill on federal property is taking up to 18 months, said H.A. True III, managing member at True Oil. EnerVest President and CEO John Walker said overzealous regulators are becoming a threat to the industry. Platts (11/9) LinkedInFacebookTwitterEmail this Story
  API News 
  • Class A, B, C Storage Tank Operator Training
    As recognized leaders in safety-training and storage-tank-compliance services, the American Petroleum Institute and Antea Group have joined forces to offer an online UST Operator Training program that meets both federal and state operator-training requirements as mandated by the Federal Underground Storage Tank Compliance Act of 2005. Our comprehensive program is state-approved and includes Class A, Class B and Class C certification for storage-tank operators. All training content includes state-specific regulations and can be customized for various storage-tank configurations. Our unique online training is conveniently available 24 hours a day. Learn more. LinkedInFacebookTwitterEmail this Story
  • API Inspection Summit, Jan. 7 to 10, Galveston, Texas
    The American Petroleum Institute invites you to attend the API Inspection Summit & Expo in Galveston, Texas, at the Galveston Island Convention Center, Jan. 7 to 10. The summit will provide you an opportunity to learn about new and existing industry codes and standards, and to hear about emerging trends from industry experts. It is also the only networking event for inspectors in the industry and includes an exhibit hall with more than 50 companies displaying the latest in inspection services. The API Inspection Summit program will feature over 120 individual sessions, as well as a new feature for 2013 -- a one-day optional training component consisting of eight technical courses, providing in-depth education to attendees. The Call for Presentations has been extended to Sept. 14. Learn more and register. LinkedInFacebookTwitterEmail this Story
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