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December 10, 2012
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News for the oil and natural gas industry

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  • Shell's Odum expects U.S. to approve more gas export ventures
    The U.S. government will eventually clear more natural gas export projects as the production boom carries on, said Marvin Odum, president of Shell Oil. "The expectation I would try and lead people to is, this is going to happen in a phased manner," Odum said. Separately, Odum said the industry is concerned about proposed oil and gas drilling regulations, but Shell has been increasing its U.S. operations. The Hill/E2 Wire blog (12/9) LinkedInFacebookTwitterEmail this Story
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  Industry News 
  • Exxon, Rosneft forge $300M deal to assess Siberian tight oil
    ExxonMobil and Rosneft have signed a $300 million deal to study whether Siberian tight oil can be commercially produced. Exploratory drilling will begin next year, and if operations succeed, commercial production will start in 2015. "I am certain that our experience and infrastructure in western Siberia, coupled with the state-of-the-art technologies of our partner ExxonMobil, will allow us to begin developing large tight-oil reserves," said Rosneft Chairman and President Igor Sechin. The Moscow Times (12/9) LinkedInFacebookTwitterEmail this Story
  • Report: Industry to funnel $28B into Eagle Ford operations in 2013
    The energy industry next year is expected to direct about $28 billion into operations in the Eagle Ford Shale in Texas, according to a report from Wood Mackenzie. The money will go to drilling, pipeline building and the development of coastal refineries. "When you throw out a number like $28 billion, it's a phenomenal amount going into this area of Texas," said Callan McMahon, a Wood Mackenzie analyst. San Antonio Express-News (12/7) LinkedInFacebookTwitterEmail this Story
  • ConocoPhillips pegs 2013 capital budget at $15.8 billion
    ConocoPhillips will allocate $15.8 billion for its 2013 capital spending program, $14 billion of which will go to exploration and production activities. "Our 2013 capital budget provides funding for the key growth projects and programs in our portfolio and provides flexibility to capture new opportunities that may arise," said Ryan Lance, Conoco's chairman and CEO. FuelFix.com (12/7) LinkedInFacebookTwitterEmail this Story
  • Noble Energy offers details about Israeli offshore gas projects
    The initial development phase of the Leviathan natural gas field off the Israeli coast will yield up to 750 million cubic feet per day for Israel in 2016, according to Noble Energy. Additional export capacity via pipeline, floating liquefied natural gas or onshore LNG is also planned by the partners in the project as soon as 2018. Noble said it also expects a 2013 startup for its Tamar offshore gas field in Israel. Oil & Gas Journal (12/7) LinkedInFacebookTwitterEmail this Story
  • Expert recommends new route for Keystone XL through Neb.
    A new route for TransCanada's Keystone XL pipeline that would run through an area of northern Nebraska where groundwater is contaminated with agricultural chemicals was proposed by Roy Spalding, a hydrochemist and water quality expert at the University of Nebraska-Lincoln. "It was basically to introduce a new approach to siting pipelines," Spalding said. "It was written not only for the XL pipeline but also for any future pipeline proposals that are going to carry liquid fuel." United Press International (12/7) LinkedInFacebookTwitterEmail this Story
  • Other News
Get Creative: 10 Ways to Think Outside the Box
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  Policy Watch 
  • Alaska governor seeks to direct funding for North Slope LNG project
    A proposed bill from Alaska Gov. Sean Parnell will allow the state to allocate about $355 million to finance a natural gas liquefaction facility and distribution system on the North Slope. The plant is expected to have an annual capacity of 9 billion cubic feet. "If you have the gas distribution system in place and you have the infrastructure and you have the customers, that helps when we get the gas line in," said Sharon Leighow, a spokeswoman for the governor. Reuters (12/8) LinkedInFacebookTwitterEmail this Story
  • CNOOC-Nexen merger secures Canadian government's approval
    CNOOC's $15 billion acquisition of Nexen was cleared by the Canadian government, despite concerns that the deal will allow a foreign company to take control of energy assets owned by provinces. Canadian Prime Minister Stephen Harper, however, said that authorities would reform foreign investment rules to discourage similar deals in the future. "Canadians generally, and investors specifically, should understand that these decisions are not the beginning of a trend, but rather the end of a trend," Harper said. The New York Times (tiered subscription model) (12/7) LinkedInFacebookTwitterEmail this Story
  • Coast Guard is urged to investigate oil sheen near Macondo well
    The U.S. Coast Guard should probe an oil sheen discovered near the site of BP's Macondo well in the Gulf of Mexico, said Reps. Henry Waxman, D-Calif., and Edward Markey, D-Mass. "The presence of this new sheen raises significant questions about whether there might be a continuing danger to the environment posed by oil trapped in the Deepwater Horizon wreckage and the Macondo well," the lawmakers wrote in a letter to the Coast Guard. FuelFix.com (12/7) LinkedInFacebookTwitterEmail this Story
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  API News 
  • 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 hear about emerging trends from industry experts in topics such as inspection technologies/NDE/corrosion/engineering analysis/software. Eight panel discussions on timely industry issues are planned to enhance interaction with attendees. It is also the only networking event for inspectors in the industry and includes an exhibit hall with more than 60 companies displaying the latest in inspection services. The API Inspection Summit program will feature over 120 individual presentations, 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. View the draft program and register. LinkedInFacebookTwitterEmail this Story
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