| News for the oil and natural gas industry
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- CFTC faces pressure to further ease position-limits rule
The American Petroleum Institute is encouraging the Commodity Futures Trading Commission to relax its position-limits rule even further than a proposed change. In May, the agency proposed requiring companies that own more than 50% of an affiliate to count its positions against its overall limits. The original proposal had an ownership threshold of 10%. API is calling for a higher threshold. Platts
(6/29)     
 | We must remind ourselves how dangerous fire can be. That's why we made the short film 451°. In the film, we look at the Oil & Gas industry from a different perspective. The result is a powerful reminder of ever-present threat of fire. It's a reminder of the true purpose and value of FR gear. Watch the film now at bulwark.com/451. |
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- New standards to help liquids pipeline operators strengthen safety
Liquids pipeline operators in the U.S. have implemented several safety standards that are designed to help strengthen performance and industry safety programs. The American Petroleum Institute's Performance Tracking System program and operator experiences were used to develop the principles. "Our members have worked hard to measure their performance and identify ways to improve. While we've seen great improvement, more is needed to move us towards a goal of zero incidents," said Peter Lidiak, pipeline director at API. Oil & Gas Journal
(6/29)
- Shell tries different approach to challenges against Alaska project
Shell Oil seeks to forestall challenges to its Alaskan exploration project by filing lawsuits against several environmental groups and requesting a court to proclaim valid some of the company's federal permits. "It's just trying to bracket the time so the challenge is used as a way to determine if there is indeed an issue that would be impacted by the permit, rather than as a way to delay the program." said Pete Slaiby, Shell Oil's Alaska venture vice president. Houston Chronicle
(6/29)
- Feds award TransCanada 2nd permit for Keystone XL portion
TransCanada secured the second of three key permits for the southern leg of its Keystone XL pipeline from the U.S. Army Corps of Engineers. The permit, which was awarded by the Corps' office in Tulsa, Okla., covers crossings and wetlands. Pipeline construction is expected to begin later this summer, TransCanada said. Reuters
(6/29)
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- EIA notes increase in Lower 48 gas production in April
April natural gas output in the Lower 48 states was 0.8% higher than the March output, the Energy Information Administration noted. Gross daily gas output totaled 72.48 billion cubic feet in April, compared with 71.92 billion cubic feet in March, the EIA said. Reuters
(6/29)
- Company drilling its first Alaska North Slope well
Great Bear Petroleum is drilling its first test well in Alaska's North Slope to study the shale oil production potential in the area, said Ed Duncan, the company's president. "We intend to take cores from three shale formations the well will penetrate," Duncan said. About three weeks will be needed to achieve a target depth of 10,500 feet for the well, he said. Platts
(6/29)
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- EPA clears key permit for proposed N.D. refinery
The Environmental Protection Agency cleared the water discharge permit for the Three Affiliated Tribes' proposed refinery in North Dakota's Fort Berthold Reservation, which is the project's final regulatory hurdle. "It only makes sense to have a refinery here. We are sitting right on top of the Bakken Formation and importing oil and fuel into the state," said Tex Hall, chairman of the Three Affiliated Tribes. Minot Daily News (N.D.)
(6/30)
| Policy Watch | | |
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- Sen. Begich: Obama to benefit from approval of Shell Alaskan project
President Barack Obama's political standing is expected to benefit from the approval of Royal Dutch Shell's Alaskan drilling project, said Sen. Mark Begich, D-Alaska. The decision will allow Obama to show voters his dedication to domestic energy development, Begich said. "If anything, I think it gives him something to talk about in the sense of 'look, we are doing it, we are bringing domestic [resources],'" the senator said. The Hill/E2 Wire blog
(6/29)
- Most Americans support Keystone XL development, survey finds
The approval of TransCanada's Keystone XL pipeline is supported by 62% of registered voters, a Washington Post/ABC News survey found. Fifty-two percent of respondents also believe the project won't damage the environment. Republican White House hopeful Mitt Romney has vowed swift approval of the pipeline if he is elected, while the Obama administration backs further review. The Hill/E2 Wire blog
(7/1)
- Bill on fines from Gulf oil spill clears Congress
A plan that would allocate 80% of fines from the 2010 BP oil spill to Gulf Coast restoration efforts was approved by Congress. The approval of the plan would aid in settlement talks between the Department of Justice and the companies found liable in the incident, according to officials involved in the proposal. Reuters
(6/29)
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Tell Washington that increased taxes are the wrong fix for U.S. deficit
With high unemployment still hobbling the economic recovery, a tax proposal that threatens jobs is the wrong choice for the U.S. There are better ways to reduce the deficit than the provisions in H.R. 5906 that would repeal "Last In, First Out" and the Sec. 199 deduction -- ways that could force employers to lay off workers, reduce salaries, stop funding retirement programs or postpone reinvestment in their businesses. Take action today to save American jobs and preserve American businesses.
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API 580/581 Risk-Based Inspection, Aug. 14 to 16
The American Petroleum Institute conducts training classes that help attendees understand and use its Risk-Based Inspection techniques. Don't miss the chance to attend one of API's courses to learn which RBI technologies, procedures and working processes comply with the API RP 580 and API Publication 581. Together, these two documents comprise the widely recognized benchmark for industry-accepted RBI practices. Learn more.
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