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February 11, 2013
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News for the oil and natural gas industry

  Top Story 
  • Technology could lead to energy independence, execs say
    Several industry executives believe that the U.S. can become energy independent, spurred by technological breakthroughs in drilling that have helped boost oil and natural gas production. "It's been estimated by the Energy Information Agency that we could be the No. 1 oil producer in the world by 2020, surpassing Saudi Arabia. So this is a big deal. It's a game-changing opportunity, and it's of historic proportions," said Jack Gerard, president and CEO of the American Petroleum Institute. (2/8) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • Court is urged to accept Transocean's $1.4B Gulf spill settlement
    U.S. District Judge Jane Triche Milazzo should accept Transocean's $1.4 billion settlement with the federal government over charges arising from the 2010 Gulf of Mexico oil spill, the company and federal prosecutors said in a filing. "The size and scope of the criminal penalty imposed on Transocean fairly and reasonably balances the seriousness of the spill and its consequences with an assessment of Transocean's role" in the incident, the two parties said in the filing. Bloomberg Businessweek (2/8) LinkedInFacebookTwitterEmail this Story
  • Devon tries vapor recovery to earn cash from gas emissions
    Vapor recovery units are helping Devon Energy comply with the Environmental Protection Agency's emissions rules while also allowing the company to generate cash. Devon is using the units to compress gas releases from oil storage tanks in the Cana Woodford Shale in Oklahoma. "If you can compress that gas, you can sell it and make money off of it," said Travis Dean, a construction and facilities engineer at Devon. The Oklahoman (Oklahoma City) (2/8) LinkedInFacebookTwitterEmail this Story
  • Documentary seeks to counter anti-fracking movement
    A new film by Phelim McAleer seeks to demonstrate that hydraulic fracturing is safe and that concerns related to the drilling technique are exaggerated. "FrackNation" was released last month, when Matt Damon's film "Promised Land" hit movie screens. "It was sort of a counterprogramming to 'Promised Land,'" said Magdalena Segieda, co-director of "FrackNation." Times Union (Albany, N.Y.) (2/7) LinkedInFacebookTwitterEmail this Story
  • Statoil not taking part in API's suit against SEC rules
    Statoil will not join in the oil industry's efforts against Securities and Exchange Commission rules that will mandate oil, natural gas and mining firms to report payments made to foreign governments. "Statoil has not supported the lawsuit initiated by [the American Petroleum Institute]; in fact, Statoil has explicitly withheld support for the litigation," the Norwegian-based company said. The Hill/E2 Wire blog (2/8) LinkedInFacebookTwitterEmail this Story
  • Other News
  Exploration & Production 
  • Sources: Shell to sign Black Sea drilling deal with TPAO
    Royal Dutch Shell and Turkey's TPAO this week will forge a joint exploration deal in the western Black Sea, sources familiar with the matter said. "Depending on the results of this work, drilling will be carried out in at least one well within two years," one source said. Reuters (2/8) LinkedInFacebookTwitterEmail this Story
  Policy Watch 
  • Kerry sees "near term" ruling on Keystone XL project
    The federal government's decision on TransCanada's Keystone XL pipeline should come in the "near term," new Secretary of State John Kerry said. Hillary Clinton, Kerry's predecessor, created a "very open and transparent process, which I am committed to seeing through," he said after meeting with Canadian Foreign Affairs Minister John Baird. "I don't want to pin down precisely when, but I assure you, in the near term." The Hill/E2 Wire blog (2/8), Platts (2/8) LinkedInFacebookTwitterEmail this Story
  • Rep. Upton doubts Keystone XL will secure U.S. approval
    Rep. Fred Upton, R-Mich., doesn't expect President Barack Obama to green-light TransCanada's Keystone XL pipeline. "Though normally a pretty good optimist, I am not overly optimist [sic] that the president will allow the Keystone XL to move forward despite Nebraska's reroute of the pipeline thru their state," said Upton, who chairs the House Energy and Commerce Committee. The Hill/E2 Wire blog (2/8) LinkedInFacebookTwitterEmail this Story
  • Sen. Murkowski promotes energy blueprint in GOP address
    Sen. Lisa Murkowski, R-Alaska, touted her energy policy plan during the Republican weekly address. "Energy is not a necessary evil. Energy is good. And that's why it is in our national interest to make energy abundant, affordable, clean, diverse, and secure," she said. Murkowski's proposal calls for the swift approval of TransCanada's Keystone XL pipeline, allowing drilling in the Arctic National Wildlife Refuge and streamlining permitting procedures for liquefied natural gas export projects. The Hill/Blog Briefing Room (2/9) LinkedInFacebookTwitterEmail this Story
  API News 
  • Strategic Financial Skills, April 8 to 12
    This comprehensive week-long program uses a hands-on approach to help you understand and master the energy sector's financial essentials. Your instructors are senior teachers with significant experience in executive development, business, consulting and energy industry financial management. In a series of information-packed class sessions, you'll learn the essentials of the business side of the energy industry. By the end of the week, you'll have a working knowledge of the key areas of financial management. Learn more. LinkedInFacebookTwitterEmail this Story
  • International Trade and Customs Conference Announced
    The 2013 International Trade and Customs Conference, March 17 to 19, will be held in Galveston, Texas. Up-to-date information on what is happening with customs, border protection and international trade in the areas of duty drawback, imports, exports and foreign trade zones will be presented. Learn more. LinkedInFacebookTwitterEmail this Story

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