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March 26, 2013
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News for the oil and natural gas industry

  Top Story 
  • Shell exec sees potential for U.S. to become oil exporter
    The U.S. could become an oil exporter, thanks to the domestic production boom, Shell Oil President Marvin Odum said. Technological breakthroughs in drilling have helped producers tap shale formations that led to the production surge, but most of the output is light oil, Odum said. Most refineries in the U.S. are designed to handle heavier oil grades, so some of the oil from shale could be transported to other countries where it could be refined more easily, Odum added. The Wall Street Journal/Corporate Intelligence blog (3/25) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • Transocean worker defends company's safety culture in spill trial
    The crew of Transocean's Deepwater Horizon rig had an excellent safety culture, said David Young, the rig's chief mate. Their emergency training allowed them to safely escape when the rig suffered a blowout, Young said during a civil trial over the 2010 Gulf of Mexico oil spill. The crew's top priority was "for everybody to be able to go home safely back to their families," he said. Associated Press (3/25) LinkedInFacebookTwitterEmail this Story
  • IEA head calls for responsible development of natural gas
    The head of the International Energy Agency called for a responsible and sustainable approach to unconventional natural gas development globally. "Natural gas is poised to enter a golden age but will do so only if a significant proportion of the world's vast resources of unconventional gas can be brought to markets in a manner that is both profitable and that addresses the legitimate public concerns about the associated environmental and social impacts," said Maria Van der Hoeven, IEA's executive director. United Press International (3/25) LinkedInFacebookTwitterEmail this Story
  • Peru's oil, gas blocks draw interest of U.S. energy firms
    Several U.S. companies, including ExxonMobil and Apache, are seeking to take part in an energy lease sale in Peru that would include 36 new oil and natural gas blocks, a government official said. "Companies have shown increasing interest following offshore discoveries by BPZ and Savia," said Luis Ortigas, president of state-run agency Perupetro. Bloomberg (3/25) LinkedInFacebookTwitterEmail this Story
  • ExxonMobil could face $1.7M fine over Mont. oil spill
    ExxonMobil could face civil fines worth $1.7 million for safety violations stemming from a pipeline spill in Montana, federal regulators said. The Department of Transportation cited Exxon for failing to seal a safety valve that could have sharply decreased the amount of oil spilled in the incident and other violations. The company is disappointed with the report, spokesman Patrick Henretty said, adding the company is studying its conclusions. ABC News/The Associated Press (3/25) LinkedInFacebookTwitterEmail this Story
Proper Fluid Mixing for Water Cut Measurement
Think of water cut measurement like sampling — the measured fluid must be representative in order to be accurate. In other words, it must be homogenous. This is a key consideration in selecting a meter. Such mixing can be achieved through a combination of multiple factors including velocity, piping elements, static mixers, and power mixers. Read more.
  Exploration & Production 
  • Chevron announces Gulf deepwater discovery
    One of Chevron's wells in the Gulf of Mexico's Coronado prospect struck oil, the company announced. The well, which reached a depth of 31,866 feet in 6,127 feet of water, struck more than 400 feet of oil-bearing rocks. Chevron owns a 40% interest in the prospect and serves as the operator of the discovery well. The Wall Street Journal (3/25) LinkedInFacebookTwitterEmail this Story
  • ExxonMobil, partners target production boost at Iraqi oil field
    ExxonMobil and its partners in the West Qurna-1 oil field in Iraq seek to raise daily output from the field from 495,000 barrels at present to 530,000 barrels by July and 600,000 barrels by year's end, an Iraqi official said. "According to this year's plan, which has been approved by the oil ministry, the consortium will invest some $1.65 billion compared with $1 billion invested last year," said Mahdi Abdul Razzaq al-Maliki, head of the joint management committee of the field. Rigzone/Dow Jones Newswires (3/25) LinkedInFacebookTwitterEmail this Story
Online registration closes this Friday. Join the global gas community who will attend this landmark event which happens only once every 3 years. Register at today.
  Policy Watch 
  • EPA establishes panel to assess fracking impact report
    The Environmental Protection Agency's Science Advisory Board has established a panel of 31 experts and academics to help assess the agency's report about hydraulic fracturing's potential effects on drinking water. "We have worked to ensure that the study process be open and transparent throughout, and the SAB panel is another example of our approach of openness and scientific rigor," said Bob Perciasepe, the agency's acting administrator. The Hill/RegWatch blog (3/25), ICIS News (U.K.) (3/25) 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
  • Tell Secretary Kerry to approve the Keystone XL pipeline
    The Keystone XL pipeline is once again facing growing opposition, but we can't afford to let the critics drown out our voices. For every dollar we invest in Canada, nearly 90 cents will be returned to our economy -- creating thousands of American jobs. Don't let this vital opportunity slip away. Voice your support for the Keystone XL pipeline and American prosperity. Take action today. LinkedInFacebookTwitterEmail this Story

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