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February 1, 2013
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News for the oil and natural gas industry

  Top Story 
  • EPA seeks to raise target for biofuel purchases in 2013
    U.S. refineries would need to purchase about 14 million gallons of cellulosic biofuel in 2013 under a new proposal unveiled by the Environmental Protection Agency. The move comes after a federal appeals court struck down the EPA's mandate for such purchases. "This stealth tax on gasoline might be the most egregious example of bad public policy, and consumers could be left to pay the price. EPA needs a serious reality check," Bob Greco, the American Petroleum Institute's downstream group director, said in response. (1/31) LinkedInFacebookTwitterEmail this Story
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  Industry News 
  • Neb. says pipeline law doesn't violate Constitution
    A Nebraska law that creates a review process for TransCanada's Keystone XL pipeline doesn't violate the Constitution, according to the Nebraska Attorney General's Office. This comes in response to a lawsuit filed by three opponents of the pipeline, who claim the law is unconstitutional as it prohibits judicial review or details criteria for evaluation. ABC News/The Associated Press (1/31) LinkedInFacebookTwitterEmail this Story
  • Chevron launches campaign against Calif. fuel standard
    Chevron has launched an extensive campaign against California's imposition of a Low Carbon Fuel Standard. Under the rule, oil and natural gas firms would be required to decrease the "carbon intensity" of gasoline and diesel by at least 10% by 2020. "California's Low Carbon Fuel Standard establishes an unworkable program that will not meet its goals," said Brent Tippen, a spokesman for the company. The Oakland Tribune (Calif.) (1/31) LinkedInFacebookTwitterEmail this Story
  • Conoco to focus spending on North American shale plays, CEO says
    North American unconventional formations are the primary area of investment for ConocoPhillips over the next few years, said Chairman and CEO Ryan Lance. "We pivoted as fast as anybody, I think, in recognizing the potential of these unconventionals," Lance said. He also cited Canadian oil sands and the North Sea as other areas of investment. (1/31) LinkedInFacebookTwitterEmail this Story
  • Grounded Shell rig in Alaska is stable, officials say
    Royal Dutch Shell's Kulluk drilling rig, which ran aground off the Alaskan coast on Dec. 31, 2012, is in stable condition as the Unified Command prepares to tow the vessel for repairs. "The Unified Command has received confirmation from naval architects that the damage sustained by the grounding poses no threat to the stability or integrity of the Kulluk while anchored in Kiliuda Bay," according to a statement. United Press International (1/31) LinkedInFacebookTwitterEmail this Story
  Exploration & Production 
  • Romania awards Chevron zoning permits for shale drilling
    Eastern Romanian regulators awarded Chevron zoning certificates that would allow the company to drill for shale natural gas in the country. Chevron now needs to secure a construction permit before it commences operations, said Dumitru Buzatu, head of the county council of Vaslui in Romania. "Chevron continues to work with the Romanian government to permit and execute activities within concession areas," the company said. IndustryWeek/Agence France-Presse (1/31) LinkedInFacebookTwitterEmail this Story
  • BP sees Angolan offshore project hitting peak output in 2014
    BP expects its PSVM oil project off the Angolan coast to reach peak production next year, a spokesman said. The Marte, Plutao, Saturno and Venus fields comprise the project, which is the deepest offshore development in Africa. "We will have two more fields coming on stream this year," said BP spokesman Amilcar da Costa. Bloomberg Businessweek (1/31) LinkedInFacebookTwitterEmail this Story
  Policy Watch 
  • Bill introduced to speed up LNG exports to NATO countries, Japan
    A measure unveiled by a bipartisan group of senators would guarantee clearance of liquefied natural gas exports to North Atlantic Treaty Organization members and Japan. "This will expand economic opportunities across America and help lower our nation's trade deficit. Our bill will also promote the energy security of key U.S. allies by helping reduce their dependence on oil and gas from countries, such as Russia and Iran," said Sen. John Barrasso, R-Wyo., one of the bill's authors. The Hill/E2 Wire blog (1/31) LinkedInFacebookTwitterEmail this Story
  • Senate Democrats are concerned about offshore seismic tests
    Proposed seismic tests off the Atlantic coast as part of the U.S. government's five-year offshore leasing program could harm the coastal economy, marine life and the environment, seven Senate Democrats said in a letter to President Barack Obama. Such tests "could injure or kill thousands of marine mammals and fish, including endangered species ... in addition to moving the region closer to risky offshore oil drilling," they said. Oil & Gas Journal (1/31) LinkedInFacebookTwitterEmail this Story
  • Source: U.S. won't rule on Keystone XL at least until June
    The U.S. government won't rule on TransCanada's Keystone XL pipeline at least until June, said an official, who refused to be identified. Last week, a State Department spokeswoman said the department isn't expected to arrive at a decision before the end of March. The delay could have the effect of further depressing the price of Canadian oil sands output, observers say. Reuters (1/31) LinkedInFacebookTwitterEmail this Story
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