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March 14, 2013
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News for the oil and natural gas industry

  Top Story 
Perfectly Balancing Man & Technology for Confined Spaces
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  Industry News 
  • Second rig worker testifies in civil trial over Gulf spill
    A burst of activity on the Deepwater Horizon rig affected a Halliburton mud logger's monitoring of the unit before it suffered a blowout that led to the worst offshore oil spill in U.S. history, the worker said. Joseph Keith, who testified in a civil trial over the 2010 incident, said he wasn't aware that the rig was about to explode and that he would also have notified officials if he had seen signs of trouble. "A lot of people missed the kick," Keith said. USA Today/The Associated Press (3/13), Bloomberg (3/13) LinkedInFacebookTwitterEmail this Story
  • Anadarko in discussions with potential LNG customers, exec says
    Anadarko Petroleum is in discussions with prospective buyers of liquefied natural gas from a Mozambique facility that the company is proposing to develop with Eni. "We are advancing efforts with selective companies in Japan and we're hopeful that the policy uncertainty around nuclear power and U.S. exports does not cause them to miss out," said Steve Hoyle, Anadarko's vice president of LNG marketing. Bloomberg (3/13) LinkedInFacebookTwitterEmail this Story
  • API kicks off ad campaign against plans to end oil, gas tax incentives
    The American Petroleum Institute launched two new commercials targeting efforts in Congress to nix tax incentives enjoyed by oil and natural gas companies. "We decided to run the ads to remind Congress that at a time when many families have had to scramble to balance their budgets, asking them to pay more for the energy they need to live their lives is bad policy and, frankly, bad politics," said Marty Durbin, API's executive vice president of government affairs. (3/13) LinkedInFacebookTwitterEmail this Story
  • Argentine asset embargo could jeopardize Chevron-YPF shale deal
    An Argentine court's decision to uphold an embargo of Chevron's assets in the country could jeopardize the company's shale natural gas agreement with YPF. The nearly $1 billion deal could be finalized only "if we can get the right conditions in place around that embargo," said Chevron Chairman and CEO John Watson. "We have to be able to access that cash." The Wall Street Journal (3/13) LinkedInFacebookTwitterEmail this Story
  Exploration & Production 
  • Exxon predicts sharp increase in oil, gas production through 2040
    Oil and natural gas production in the U.S. will continue to soar through 2040 as energy firms start up more shale and deepwater production projects, according to ExxonMobil. Domestic energy use, meanwhile, is expected to fall in the same period, the company said in its energy outlook. Separately, an ExxonMobil executive said the Gulf of Mexico will continue to play a key role in the company's portfolio even after it unloaded 20 blocks in the region. Rigzone (3/13) LinkedInFacebookTwitterEmail this Story
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  Policy Watch 
  • Keystone XL pipeline job figures are overblown, Obama says
    The job figures tied with the development TransCanada's Keystone XL pipeline are overstated, President Barack Obama said in a closed-door meeting with House Republicans. "He said there were no permanent jobs, and that the oil will be put on ships and exported and that the only ones who are going to get wealthy are the Canadians," said Rep. Lee Terry, R-Neb. Obama, however, would still consider green-lighting the project, participants said. The Washington Post/The Associated Press (3/14) LinkedInFacebookTwitterEmail this Story
  • Interior chief pushes for disclosure of fracking chemicals
    Interior Secretary Ken Salazar emphasized the need for drillers to disclose the chemicals used in hydraulic fracturing during his trip to San Francisco. "People need to know what's being injected into the underground. I tell people in the oil and gas industry that unless they embrace a set of reforms like that, including disclosure, that it'll be the Achilles Heel of their industry," Salazar said. San Francisco Chronicle/Fossils & Photons blog (3/13) LinkedInFacebookTwitterEmail this Story
  • Calif. needs to study fracking, governor says
    California needs to consider hydraulic fracturing for shale oil development, Gov. Jerry Brown said. According to the Department of Energy, California's Monterey shale play could contain as much as 15 billion barrels of oil. Any fracking decisions would be based on common sense, science and a process that "listens to people but also wants to take advantage of the great opportunities we have," Brown said. Reuters (3/13) LinkedInFacebookTwitterEmail this Story
  • Ill. House speaker prefers fracking ban over regulations
    Illinois House Speaker Michael Madigan favors a ban on hydraulic fracturing instead of a bill that would regulate the drilling technique. State lawmakers, with the help of the industry and some environmentalists, have crafted legislation that contains some of the toughest fracking policies in the U.S. "Read about what happened in Pennsylvania," Madigan said, without explaining his position. Associated Press (3/13) LinkedInFacebookTwitterEmail this Story
  API News 
  • 79th Annual API Federal Tax Forum, April 29 and 30
    The forum is one of the only legal conferences focusing on federal oil and gas taxation and is consistently praised by participants as an excellent learning opportunity. It is open to private lawyers and accountants interested in this area and attracts speakers who are leading authorities in their fields. The topics covered at the forum are usually selected to address both basic and advanced issues on the U.S. taxation of domestic and international oil and gas operations. Learn more. LinkedInFacebookTwitterEmail this Story
  • API-U
    API-U offers training any way you want it, anywhere you want it. Attend one of our instructor-led classes designed to help you get more out of API Standards, or choose from more than 140 of our e-Learning courses in mechanical maintenance, electrical maintenance, instrumentation and control, industrial math, and science and safety. Learn more. LinkedInFacebookTwitterEmail this Story
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