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November 15, 2012
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News for the oil and natural gas industry

  Top Story 
  • Federal rules could stifle energy development, industry leaders say
    Domestic oil and natural gas development could be jeopardized by federal hydraulic fracturing policies and taxes on energy companies, energy leaders said at an event. "You can't be for the potential energy development in the United States and be against hydraulic fracturing," said Jack Gerard, president and CEO of the American Petroleum Institute. Energy markets are held back by federal fracking rules, and state-level regulation is still the best approach, said Karen Alderman Harbert, president and CEO of the U.S. Chamber of Commerce's Institute for 21st Century Energy. MarketWatch (11/14) LinkedInFacebookTwitterEmail this Story
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  Industry News 
  • API notes progress in industry's pipeline safety efforts
    The American Petroleum Institute noted progress in the oil and natural gas industry's efforts to achieve zero pipeline-related incidents, which cover releases, injuries and fatalities. This comes after the National Transportation Safety Board identified enhanced pipeline safety as one of its "Most Wanted" objectives in 2013. "The industry continues to seek the most beneficial, cost-effective improvements to safety," said Peter Lidiak, director of pipelines for API. The State Journal (Charleston, W.Va.)/Grounded blog (11/14) LinkedInFacebookTwitterEmail this Story
  • KKR exec says collaboration is needed to enjoy shale gas benefits
    The energy industry, regulators, environmentalists and the community need to collaborate to come up with suitable rules and "best practices" for drilling for the U.S. to reap the benefits of shale natural gas development, said Marc Lipschultz, KKR's global head of energy and infrastructure. Streamlining permitting procedures for drilling in federal properties and liquefied natural gas exports will also play key roles in that effort, Lipschultz said. (11/14) LinkedInFacebookTwitterEmail this Story
  • Shell sees $20B investment in natural gas ventures through 2015
    Over $20 billion will be spent by Royal Dutch Shell on natural gas projects through 2015, the company said. Shell anticipates a 30% increase in its liquefied natural gas production once its Australian projects are finished, and the company plans to run ships and trucks with LNG. Bloomberg (11/14) LinkedInFacebookTwitterEmail this Story
  • ZaZa Energy gets $85.8M from sale of Paris Basin holdings
    ZaZa Energy will get $85.8 million from the sale of its Paris Basin properties in France to Vermilion Energy. The transaction "strengthens our balance sheet and provides us with additional working capital to drill in the Eaglebine and Eagle Ford plays," said Todd Brooks, executive director, president and CEO of ZaZa Energy. (11/14) LinkedInFacebookTwitterEmail this Story
  • Chevron is still uncertain about Australian LNG project costs
    Chevron is still uncertain about the final cost of its Gorgon liquefied natural gas project in Australia, the company said. This follows a report that stated the project faced up to $62 billion in cost increases because of construction issues and a surging Australian dollar. "Uncertainty and opportunity still exist in some key assumptions -- including logistics, productivity and weather -- and we are evaluating these assumptions based on actual performance and will continue to do so over the next few months," a company spokesman said. The Wall Street Journal/Dow Jones Newswires (11/14) LinkedInFacebookTwitterEmail this Story
  • GE, Chinese firms in shale gas development talks
    GE Oil & Gas is in talks with China National Petroleum, China Petrochemical and China National Offshore Oil over shale natural gas development opportunities in China, an executive said. "The company will then decide on its position and direction, but it is too early to project anything more at present," said Liu Bo, GE Oil & Gas Greater China manager. China Daily (Beijing) (11/14) LinkedInFacebookTwitterEmail this Story
  Refining & Marketing 
  • Refiners to face additional regulations in Obama's new term
    The U.S. refining sector is expected to face new regulations during President Barack Obama's second term, Phillips 66 CEO Greg Garland and Marathon Petroleum CEO Gary Heminger said. Policies such as the Corporate Average Fuel Economy standards and the Renewable Fuel Standard have led to increased spending over the years, the executives added. "There's no question, between renewables and CAFE standards, over the next 10 to 20 years, you're looking at a 10 to 20 percent reduction in gasoline demand," Garland said. (11/14) LinkedInFacebookTwitterEmail this Story
  Policy Watch 
  • API urges U.S. against burdensome rules following IEA report
    U.S. regulators should avoid implementing "burdensome and unnecessary regulations" that would stifle domestic oil and natural gas development, said John Felmy, the American Petroleum Institute's chief economist. His remarks came after the International Energy Agency issued a report about U.S. oil production. According to the report, "the United States is projected to become the largest global oil producer" in the next decade. United Press International (11/14) LinkedInFacebookTwitterEmail this Story
  • Keystone XL pipeline is in U.S. interest, API exec says
    The Obama administration needs to clear TransCanada's Keystone XL pipeline as it would help efforts to turn the U.S. into the world's largest oil producer and generate much-needed jobs for Americans, writes Cindy Schild, the American Petroleum Institute's senior manager of downstream. "Whether it's a Secretary [Hillary] Clinton or another appointee who evaluates the final State Department environmental review of the project in the new year, the facts support the decision to find Keystone XL in our nation's interest," Schild writes. The Hill/E2 Wire blog (11/14) LinkedInFacebookTwitterEmail this Story
  API News 
  • API Inspection Summit, Jan. 7 to 10, Galveston, Texas
    The American Petroleum Institute invites you to attend the API Inspection Summit & Expo in Galveston, Texas, at the Galveston Island Convention Center, Jan. 7 to 10. The summit will provide you an opportunity to learn about new and existing industry codes and standards, and to hear about emerging trends from industry experts. It is also the only networking event for inspectors in the industry and includes an exhibit hall with more than 50 companies displaying the latest in inspection services. The API Inspection Summit program will feature over 120 individual sessions, as well as a new feature for 2013 -- a one-day optional training component consisting of eight technical courses, providing in-depth education to attendees. The Call for Presentations has been extended to Sept. 14. Learn more and register. LinkedInFacebookTwitterEmail this Story
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