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February 13, 2013
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News for the oil and natural gas industry

  Top Story 
 
  • Obama makes climate change pledge in address
    President Barack Obama pledged to personally take action on climate change if Congress fails to move soon. In his State of the Union speech, Obama also proposed a clean energy drilling program, in which drilling revenues would be allocated for alternative fuel studies. Jack Gerard, president and CEO of the American Petroleum Institute, said that if the president seeks to make good on his all-of-the-above energy strategy, he "must follow through by implementing a national energy policy, lifting existing restrictions in support of responsible development of our vast energy resources, approving the Keystone XL pipeline and standing up against unnecessary and burdensome regulations that chill economic growth." FuelFix.com (2/12) LinkedInFacebookTwitterEmail this Story

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  Industry News 
  • U.S. green-lights CNOOC-Nexen merger
    CNOOC's $15.1 billion takeover of Nexen has secured approval from the Committee on Foreign Investment in the U.S., clearing the deal's final hurdle, according to Nexen. The transaction required U.S. approval as Nexen owns key assets in the Gulf of Mexico. The deal is expected to be finalized later in the month. Fox Business/Dow Jones Newswires (2/12) LinkedInFacebookTwitterEmail this Story
  • Girling: U.S. will OK Keystone XL pipeline by June's end
    TransCanada's Keystone XL pipeline is expected to secure U.S. approval by June's end, said Russ Girling, the company's president and CEO. The company also still expects "that the pipeline will become operational in late 2014 or early 2015," he added. Reuters (2/12) LinkedInFacebookTwitterEmail this Story
  • Transocean to enter guilty plea in Gulf spill hearing
    Transocean is expected to plead guilty to a misdemeanor charge in relation to its negligence in the 2010 Gulf of Mexico oil spill. The company will pay a penalty of $400 million and serve a five-year probation for its role in the incident. FuelFix.com (2/12) LinkedInFacebookTwitterEmail this Story
  • Chamber: U.S. firms target key opportunities in Mexico
    ExxonMobil and other U.S. companies see major investment opportunities in Mexico, following the Mexican government's decision to allow more private investment in its state-owned energy industry, a U.S. Chamber of Commerce official said. "Now the devil is in the details; how to pry open the door, how to modernize and update" energy production, said Myron Brilliant, the chamber's senior vice president for international affairs. Bloomberg Businessweek (2/12) LinkedInFacebookTwitterEmail this Story
  • Exxon: Malaysian upstream plays key role in global operations
    ExxonMobil's Malaysian upstream operations will continue to play a crucial role in its global portfolio despite the company's decision to divest its downstream unit in the country. Exxon's production-sharing deal with two Malaysian firms is proof of this, said J. Hunter Farris, chairman of the company's Malaysian subsidiaries. "This partnership marks the start of the next 25-year phase of our operations in Malaysia until 2033 and sees us working with our partners to help ensure the efficient development and sustainable supply of hydrocarbon resources to meet the growing energy demands of the nation," Farris said. Star Publications (Malaysia) (2/13) LinkedInFacebookTwitterEmail this Story
  Exploration & Production 
  • BP showcases Texas well monitoring facility
    A small group of reporters got a first-hand look at BP's well monitoring facility at its West Houston campus. The facility allows BP to analyze and respond to well data from its nine Gulf of Mexico rigs. "We want to be the Harvard of well control," said Mark Venettozzi, a global training manager at BP. FuelFix.com (2/12) LinkedInFacebookTwitterEmail this Story
  Refining & Marketing 
  • Kan. refinery operator, EPA reach $2.3M settlement over oil spill
    Coffeyville Resources Refining & Marketing has reached a settlement with the Environmental Protection Agency of about $2.3 million over an oil spill at its refinery in Coffeyville, Kan., during a 2007 flood. A large portion of the money will be used to reimburse the government for the cost of cleaning up the Verdigris River after the incident. The company is also required to perform upgrades at its facility under the settlement. SeattlePI.com/The Associated Press (2/12) LinkedInFacebookTwitterEmail this Story
  Policy Watch 
  • Sen. Wyden calls for adequate gas export policies
    The U.S. needs sound policies for natural gas exports, Sen. Ron Wyden, D-Ore., said during a Senate Energy and Natural Resources Committee hearing on the issue. "It is clearly time for a fresh look at our current policies and to start thinking about how to update those policies to reflect a very new reality," said Wyden, the committee's chairman. He also hopes to arrive at a policy "sweet spot" that would benefit manufacturers, producers and the environment. Reuters (2/12), FuelFix.com (2/12) LinkedInFacebookTwitterEmail this Story
  • Justice Dept. is urged to delay Gulf spill settlement with BP
    The Department of Justice should postpone a civil settlement with BP on charges related to the 2010 Gulf of Mexico oil spill until the company reaches deals on other environmental fines with Gulf Coast states, said Sen. David Vitter, R-La. "If BP is allowed to settle the [Clean Water Act] penalties prior to [the Natural Resources Damages Assessment], the states may rush to use those long-awaited funds to commence the clean-up projects that BP has a responsibility under NRDA to restore," Vitter said in a letter to U.S. Attorney General Eric Holder. The Wall Street Journal (2/12) LinkedInFacebookTwitterEmail this Story
  API News 
  • Global Enterprise Leadership in the Energy Industry, Oct. 14 to 16
    Designed for current and emerging leaders whose decisions and authority shape their enterprises; this dynamic new three-day program will help attendees forge a global vision and the skills to achieve it. Sessions will feature breakthrough insights on key issues from world-recognized thought leaders and expert faculty from SMU-Cox and other top-ranked business schools. Research-based content will expose attendees to the latest approaches in strategy development, financial management, leadership, risk management and communication. 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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