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April 27, 2012
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News for the oil and natural gas industry

  Top Story 
 
  • Conoco CEO says shale resources play key role in U.S. economy
    Shale oil and natural gas have altered North America's position in worldwide fossil fuel production and have moved the continent one step closer to energy independence, said James Mulva, chairman and CEO of ConocoPhillips. Shale resources are a "gift" and a "blessing," Mulva said during a conference in Houston. "You can really continue to grow the economy and the standard of living. And it's a helpful investment in putting people back to work," he said. Houston Chronicle (4/26) LinkedInFacebookTwitterEmail this Story
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  Industry News 
  • ExxonMobil's Argentinean operations are unaffected by YPF takeover
    The Argentinean government's decision to take control of Spanish-owned YPF didn't affect ExxonMobil's first-quarter operations in the country. The U.S. oil major said it finished drilling two unconventional wells in that period and will complete or frack those wells in the second quarter. Exxon said it will continue to observe developments in the region. Reuters (4/26) LinkedInFacebookTwitterEmail this Story
  • Shell in talks with Australian LNG project rivals about cooperation
    Royal Dutch Shell is in discussions with its competitors about sharing proposed liquefied natural gas facilities in Queensland, Australia. The company leads one of several groups that are vying for LNG projects in the Australian state. "We're open to ideas," said Simon Henry, Shell's chief financial officer. Reuters (4/26) LinkedInFacebookTwitterEmail this Story
  • Sumitomo forges U.S. natural gas liquefaction deal
    Japan's Sumitomo struck an initial deal to liquefy 2.5 million tons of natural gas at Dominion Resources' Cove Point project in the U.S. Sumitomo would be joined by Tokyo Gas when the formal contract is signed. Reuters (4/27) LinkedInFacebookTwitterEmail this Story
  Exploration & Production 
  • Shell is upbeat about shale-gas development in China
    Royal Dutch Shell is upbeat about the development of China's shale natural gas resources. "We completed 11 wells last year; we hope to effectively double that this year. ... We are seeing a mixed range of outcomes, everything from pretty poor reaction to excellent," said Simon Henry, the company's chief financial officer. Shell expects the cost of shale-gas production in the country to be within the $2 to $6 per million British thermal units seen in North America, Henry said. Reuters (4/26) LinkedInFacebookTwitterEmail this Story
  • Chesapeake delays effort to control leaking Wyoming well
    Unfavorable weather conditions have caused Chesapeake Energy to delay its effort to seal a well in Wyoming that blew out, spilling natural gas and drilling mud. "We're waiting for the wind direction and speed to change," said Kelsey Campbell, a spokeswoman for the company. The incident poses "no current threat to waters in the United States," said Richard Mylott, a spokesman for the Environmental Protection Agency. Reuters (4/26) LinkedInFacebookTwitterEmail this Story
  Refining & Marketing 
  • Shell: Texas refinery is now largest in the U.S.
    The Motiva Enterprises refinery in Port Arthur, Texas, became the largest such facility in the U.S. after a new atmospheric crude distillation unit began processing crude this week. The plant now has a total refining capacity of 600,000 barrels per day, said Simon Henry, chief financial officer of Royal Dutch Shell, which co-owns the refinery. Reuters (4/26) LinkedInFacebookTwitterEmail this Story
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  Policy Watch 
  • Sen. Lugar accuses Democrats of obstructing Keystone XL efforts
    Democrats are obstructing efforts to include TransCanada's Keystone XL pipeline in a final transportation-funding bill, said Sen. Dick Lugar, R-Ind. A transportation bill cleared by the House of Representatives includes language for the project, but the Senate excluded the provision in its version of the measure. "Every day that President Obama and Senate Democrat leaders continue their blockade of Keystone XL is another day of unemployment for thousands of construction and manufacturing workers and another day of delay in bolstering U.S. energy security with oil from a friendly neighbor," Lugar said. The Hill/E2 Wire blog (4/26) LinkedInFacebookTwitterEmail this Story
  • Watson: BSEE to add more inspectors, engineers
    The Bureau of Safety and Environmental Enforcement will add more inspectors and engineers to strengthen its offshore-drilling oversight capabilities. "The first goal of BSEE is to ensure that the equipment is built and maintained to the right standards, that the people are trained and supported by the management, and that there is a good monitoring of these activities," said James Watson, BSEE director. The safety standards of both the industry and the government should be more extensive than merely trying to avert a repeat of the Gulf of Mexico oil spill, Watson added. Houston Chronicle (4/26) LinkedInFacebookTwitterEmail this Story
  API News 
  • Service Station Contractor Safety Program
    The premier program offered by API WorkSafe is the Service Station Contractor Safety Program that identifies contractor personnel who have passed a standardized examination covering the latest service station industry safety practices, based on API Recommended Practice 1646, Safe Work Practices for Contractors Working at Retail Petroleum/Convenience Facilities. The program provides awareness-level training on key safety issues found at petroleum retail job sites. Learn more. LinkedInFacebookTwitterEmail this Story
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