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March 6, 2013
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News for the oil and natural gas industry

  Top Story 
  • Gerard seeks "sensible" energy policies to spur job growth
    U.S. policymakers need to implement "sensible" energy policies and avoid "punitive taxes" on the oil and natural gas industry, said Jack Gerard, president and CEO of the American Petroleum Institute. "Gains in oil and natural gas production will create thousands of new jobs," Gerard said during the IHS CERAWeek conference in Houston. "This could be just the beginning if we get our energy policy right today," he said. (3/5) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • First rig worker testifies in civil trial over Gulf spill
    Transocean worker Randy Ezell said in court that his subordinate, Jason Anderson, who died in the 2010 Gulf of Mexico rig blast and oil spill, "apparently misinterpreted" the findings of a key safety test that indicated that BP's Macondo well was about to explode. Ezell testified yesterday in a civil trial over the incident. BP's well site managers aboard the rig, however, were ultimately responsible for the tests and the interpretation of the findings, Ezell said. "We all knew it was BP's well and he had the final say, the well site leader," Ezell said. Star Tribune (Minneapolis-St. Paul, Minn.)/The Associated Press (3/5) LinkedInFacebookTwitterEmail this Story
  • Suncor CEO: State Dept. report on Keystone XL is encouraging
    The State Department's draft report about the minimal impact of TransCanada's Keystone XL pipeline on the environment is encouraging, said Steve Williams, president and CEO of Suncor Energy. "I thought it came out with some clear statements about the fact that that pipeline in itself will not affect the growth [of oil sands production]," Williams said during the IHS CERAWeek conference in Houston. The Hill/E2 Wire blog (3/5) LinkedInFacebookTwitterEmail this Story
  • Anadarko seeks to get $860M from sale of shares in Gulf project
    Anadarko Petroleum plans to sell some of its shares in the Heidelberg development project in the Gulf of Mexico for $860 million to an undisclosed buyer to guarantee funding before the start of production. The project is estimated to contain as much as 400 million barrels of recoverable resources. Reuters (3/5) LinkedInFacebookTwitterEmail this Story
  Exploration & Production 
  • North America can become energy exporter in decade, exec says
    North America has the potential to become an energy exporter within 10 years, spurred by a boom in shale oil and natural gas production, said Ryan Lance, chairman and CEO of ConocoPhillips. "The new landscape is like someone picked up the energy world and tilted it," Lance said. Limited access and unfair taxes on the industry, however, could jeopardize shale development, he said. Reuters (3/5) LinkedInFacebookTwitterEmail this Story
  • Execs see global expansion of tight oil development
    Other countries will experience the tight oil phenomenon in North America, but it won't occur quickly, several industry executives said during the IHS CERAWeek conference in Houston. Most countries don't have the infrastructure, private land ownership and entrepreneurial firms that have sparked such a spectacle in North America, said William Maloney, Statoil's executive vice president for development and production in North America. (3/5) LinkedInFacebookTwitterEmail this Story
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  Policy Watch 
  • State Dept. seeks to aid industry in SEC rule implementation
    The State Department seeks to guide the energy industry as new Securities and Exchange Commission payment disclosure rules are imposed, an official said. Under the rules, oil, natural gas and mining firms must report payments to foreign governments. "After there is a conclusion to that, [the rule] will have implications for how energy companies conduct their business around the world, and we then need to play a very proactive role," said Carlos Pascual, coordinator for international energy affairs at the agency. The Hill/E2 Wire blog (3/5) LinkedInFacebookTwitterEmail this Story
  • Study notes production decline on federal lands under Obama
    Oil and natural gas production in the U.S. has increased since 2007, but it has fallen sharply on federal properties, according to a study by the Congressional Research Service. "Where the states have been in charge, we have seen energy development boom in a safe and responsible way, but under federal control we have seen a sharp decline in production. A web of red tape and a backlog of delayed permits are blocking important energy production opportunities on federal lands," Rep. Ed Whitfield, R-Ky., said in response to the report's findings. The Hill/E2 Wire blog (3/5) LinkedInFacebookTwitterEmail this Story
  • API welcomes McCarthy's nomination as head of EPA
    The American Petroleum Institute welcomes the nomination of Gina McCarthy as administrator of the Environmental Protection Agency, as the trade group pursues an energy policy that supports economic growth, said Jack Gerard, API's president and CEO. "The problem is that EPA, in many cases, is not proposing regulations that meet this goal," Gerard said. United Press International (3/5) LinkedInFacebookTwitterEmail this Story
  • ConocoPhillips CEO lauds Moniz's nomination for Energy Dept.
    President Barack Obama's nomination of Ernest Moniz to lead the Department of Energy was praised by ConocoPhillips Chairman and CEO Ryan Lance. "It sounds like he has a very balanced approach," Lance said. Moniz backs the "all of the above" approach to energy and acknowledges the important roles of oil and natural gas in today's energy mix, Lance added. The Hill/E2 Wire blog (3/5) 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
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