| News for the oil and natural gas industry
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- Gerard promotes potential economic, energy benefits of Keystone XL
The U.S. needs to establish a "sound public policy" that would allow the oil and natural gas industry to grow, said Jack Gerard, president and CEO of the American Petroleum Institute. The country could become "self-sufficient in under 12 years" and "the new Middle East in energy production," Gerard said during a conference in Denver. "One of the keys is trying to get the president to change his ill-conceived decision" on TransCanada's proposed Keystone XL pipeline, he said. American City Business Journals/Denver
(6/7)     
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- Court is urged to deny BP access to White House Gulf spill e-mails
BP shouldn't be allowed to view correspondence between federal officials and the White House during the 2010 Gulf of Mexico oil spill, a lawyer representing the U.S. government said. BP asked the judge hearing the case to study 21 government e-mails to decide if it can use them in Gulf spill proceedings. "Disclosure of these documents would chill the open and candid discussion of internal opinions, ideas, and strategies" among policy makers during future oil spills, Gregory Woods, general counsel for the Department of Energy, said in a court filing. Bloomberg
(6/7)
- Chesapeake Energy wants to sell part of Michigan holdings
Chesapeake Energy wants to sell 450,000 acres of its properties in Michigan, according to a prospectus issued by Meagher Energy Advisors. The move is part of the company's effort to make up its expected $9 billion to $10 billion cash shortfall. Bids for the holdings are scheduled on June 29, Meagher said. Reuters
(6/7)
- Report: Canada's oil industry should lead water management drive
Canada's petroleum industry should lead the campaign for the conservation of water, according to Deloitte. The industry "uses the least amount of water and recirculates more of what it uses than all other sectors in Canada," but finding solutions to reduce and recycle water are still necessary, the report stated. "Canada leads the world in heavy oil technology, with research and development proceeding in the areas of advanced in situ processing and recovery, process water treatment and re-use and co-generation technologies aimed at energy efficiencies," Deloitte said. Financial Post (Canada)
(6/7)
- ConocoPhillips, Santos sell shares in Australian gas project
ConocoPhillips and Santos have agreed to sell minority shares in the Caldita and Barossa natural gas discoveries off the Australian coast to South Korea's SK E&S for up to $520 million. Under the terms, SK will buy a 37.5% stake in the two fields, with an option to acquire more shares after the drilling of three appraisal wells. The transaction brings Santos and ConocoPhillips a step closer to the expansion of the liquefied natural gas export facility in Darwin, Australia. Fox Business/Dow Jones Newswires
(6/7)
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- BP, partners release five-month output figures from Caspian field
BP and its partners produced 16.5 million tons of crude oil from the Azeri-Chirag-Guneshli field in the Caspian Sea off the Azerbaijan coast in the first five months of 2012, said Xosbaxt Yusifzada, first vice president of State Oil Co. of Azerbaijan. Production from the field has been falling after safety rules were strengthened at such areas in the aftermath of the Gulf of Mexico oil spill in 2010. Bloomberg
(6/7)
| Policy Watch | | |
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- API welcomes passage of key energy bill in House
An energy and jobs bill passed by the House of Representatives would help spur economic growth in the U.S., the American Petroleum Institute said. The Domestic Energy and Jobs Act includes language that would streamline onshore oil and natural gas leases and measures that would allow drilling in the National Petroleum Reserve-Alaska. "Americans want to access more of our own energy resources, not only to enhance energy security, but also to put downward pressure on prices," said Conrad Lass, senior director of federal relations at API. United Press International
(6/7)
- State treasurer: Ohio should keep outsiders from hindering oil, gas
Ohio shouldn't allow outside groups to delay oil and natural gas development in the state, as it would stunt job growth and a possibility to boost manufacturing, said Josh Mandel, the state treasurer. "There's going to be a lot of dollars descending on Ohio from a lot of these radical organizations to try to stop this exploration in Ohio," Mandel said. "There's a misinformation campaign afoot and it's funded from Hollywood. It's funded from Manhattan. It's not funded from the heartland." The Plain Dealer (Cleveland)
(6/7)
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API Small Steel Tank Inspection Procedures: Aboveground Storage
Many small tank owners believe that API 653 does not apply to their tanks, which is very unfortunate since using this standard to inspect their tanks may lead to longer "usable tank life." Many API 653 Certified Tank Inspectors have been using 653 to inspect small tanks and have saved their customers hundreds of dollars. Learn more.
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