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March 29, 2013
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News for the oil and natural gas industry

  Top Story 
  • API: EPA's new gasoline rules would raise fuel prices
    Sulfur amounts in gasoline would be reduced from 30 parts per million to 10 parts per million under a draft policy that the Environmental Protection Agency will propose. Such a plan would increase production costs for gasoline by 9 cents per gallon, said Bob Greco, the American Petroleum Institute's downstream director. "There is a tsunami of federal regulations coming out of the EPA that could put upward pressure on gasoline prices," Greco said. Bloomberg Businessweek (3/28) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • Chevron, Chubu Electric forge LNG supply agreement
    Chevron struck a deal to provide about 1 million tons of liquefied natural gas annually to Chubu Electric Power for 20 years from the U.S. oil major's Wheatstone LNG project in Australia. Chevron has forged other LNG supply deals with Asian customers from its Wheatstone venture. "The agreements demonstrate that Wheatstone is well-placed geographically to meet the Asia Pacific region's growing demand for a safe, reliable and cleaner-burning source of energy," said Roy Krzywosinski, managing director of Chevron's Australian unit. (3/28) LinkedInFacebookTwitterEmail this Story
  • ExxonMobil seeks sale of shares in Iraqi oil field project
    ExxonMobil is in talks with Mubadala, an Abu Dhabi state-run investment fund, on the sale of its 5% interest in the West Qurna-1 oil field in Iraq, Iraqi officials said. "Exxon is staying in West Qurna-1 at least until next year, but at same time the company is moving ahead to cut its share in the West Qurna project to shift focus to other projects," one official said. Reuters (3/28) LinkedInFacebookTwitterEmail this Story
  • Other News
  Exploration & Production 
  • Energy firms turn to supercomputers for drilling, experts say
    Energy majors are turning to supercomputers in their search for oil and natural gas underground, observers say. France's Total just last week unveiled its Pangea supercomputer, which will help increase accuracy in drilling decisions. Pangea boasts a computing speed of 2.3 quadrillion operations per second, which is equivalent to 27,000 office computers, Total said. (3/28) LinkedInFacebookTwitterEmail this Story
  • ExxonMobil, Germany examine prospects for hydraulic fracturing
    ExxonMobil and German regulators have been discussing the prospects for hydraulic fracturing in Germany, the company said. "Future exploration activities await the outcome of ongoing discussion with regulators and communities on the subject of hydraulic fracturing," Exxon said. The company owns nine exploration licenses in Germany and is the country's largest natural gas producer. MarketWatch/Energy Ticker blog (3/28) LinkedInFacebookTwitterEmail this Story
  • Report: Producers ramped up drilling in Ohio in 2012
    Energy firms operating in Ohio drilled nearly 670 miles of horizontal and vertical wells in 2012, according to a report from the Ohio Oil and Gas Association. The figure is a huge increase from the 377 miles drilled in 2011 and more than double the 325 miles drilled in 2010. "There is still a lot of characterization going on," said Pete MacKenzie, the group's vice president of operations. Akron Beacon Journal (Ohio) (3/28) LinkedInFacebookTwitterEmail this Story
  Policy Watch 
  • House energy subcommittee unveils goals for this Congress
    A subcommittee of the House Energy and Commerce panel detailed its agenda for this Congress, which includes green-lighting TransCanada's Keystone XL pipeline, easing hydraulic fracturing rules and allowing further drilling on federal lands. "The largest threat to this path of security continues to be ever-increasing regulations that unnecessarily limit or impede the safe and responsible production of our energy resources and stifle the ability to maintain a diverse electricity generation portfolio," subcommittee Chairman Ed Whitfield, R-Ky., and Rep. Steve Scalise, R-La., said. The Hill/E2 Wire blog (3/28) LinkedInFacebookTwitterEmail this Story
  • Rep. Boehner touts House GOP role in Senate Keystone XL vote
    House Republicans played a key role in last week's symbolic vote in the Senate endorsing the development of TransCanada's Keystone XL pipeline, said House Speaker John Boehner, R-Ohio. Republicans have "been effective in keeping the pressure on the Democratic majority in Washington to control spending and remove barriers to economic growth," according to a memo from Boehner. The Hill/E2 Wire blog (3/28) 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
  • Tell the State Dept. that Keystone XL is good for America
    We have less than 40 days to tell Secretary of State John Kerry that approving Keystone XL is crucial. We cannot afford to see energy security and economic growth held up any longer. The facts are clear: science supports the project -- as do the majority of the American people. Stand up and take action today for the Keystone XL's approval. LinkedInFacebookTwitterEmail this Story

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