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February 7, 2013
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News for the oil and natural gas industry

  Top Story 
  • Obama nominates REI CEO to head Interior Dept.
    Recreational Equipment Inc. CEO Sally Jewell has been nominated by President Barack Obama to head the Department of the Interior. "She knows there's no contradiction between being good stewards of the land and our economic progress," Obama said. The American Petroleum Institute is looking forward "to learning how Sally Jewell's business background and experience in the oil and natural gas industry will shape her approach to the game-changing prospects before us in energy development," President and CEO Jack Gerard said. (2/6), The New York Times (tiered subscription model) (2/6), Reuters (2/6) LinkedInFacebookTwitterEmail this Story

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  Industry News 
  • BP to challenge legal claims from Gulf oil spill, CEO says
    State and local governments have collectively sought $34 billion in damage claims associated with the 2010 Deepwater Horizon Gulf of Mexico oil spill, and BP seeks to challenge such claims "vigorously in court," CEO Robert Dudley said. The calculation methods for the claims are "seriously flawed, not supported by the legislation" and considerably overstated, Dudley said. Rigzone/Dow Jones Newswires (2/6) LinkedInFacebookTwitterEmail this Story
  • Court is urged to OK Transocean's $1B settlement
    A federal court in New Orleans should give final approval to Transocean's $1 billion settlement with the U.S. government over Gulf of Mexico spill-related civil penalties, lawyers for the government said in a court filing. "The proposed decree is fair, reasonable, adequate and consistent with the purposes of the Clean Water Act," according to the filing. (2/6) LinkedInFacebookTwitterEmail this Story
  • Energy majors are undaunted by Arctic drilling risks, report finds
    The challenges of safety, infrastructure, taxes and royalties haven't discouraged energy majors from exploring the Arctic's offshore resources, according to an Ernst & Young report. Drillers have discovered 10 large oil and natural gas basins in the Russian shelf with proven reserves, according to the report. (2/6) LinkedInFacebookTwitterEmail this Story
  • Marubeni buys nearly half of Gulf platform project
    Japan's Marubeni acquired a 49% interest in an oil and natural gas platform project in the Gulf of Mexico. The $1 billion floating platform owned by Williams Partners has an expected operational date of 2014 and expected daily processing capacity of 60,000 barrels of oil and 135 million cubic feet of natural gas. Bloomberg (2/6) LinkedInFacebookTwitterEmail this Story
  Exploration & Production 
  • U.S. orders rigs with faulty bolts to halt operations
    U.S. regulators have ordered energy firms including Chevron and Royal Dutch Shell to suspend activities on rigs equipped with General Electric devices using defective bolts. Bolt replacement could take three weeks, according to Credit Suisse Group. "This is a result of increasing government scrutiny of deep-water activities," said Craig Pirrong, director of the Global Energy Management Institute at the University of Houston. Bloomberg (2/6) LinkedInFacebookTwitterEmail this Story
  Refining & Marketing 
  • Klesse boasts of Valero Energy's market advantages
    Valero Energy's low operating costs and increasing distillates production are some of the advantages it possesses over rivals, said Chairman and CEO Bill Klesse. He also touted the company's two major hydrocrackers, which could allow the company to have equal production of distillates and gasoline. (2/6) LinkedInFacebookTwitterEmail this Story
  Policy Watch 
  • API's Durbin: RFS "isn't working"
    The American Petroleum Institute supports domestic energy independence through all energy sources, including ethanol, but only when policies work, said Marty Durbin, executive vice president of government affairs at the American Petroleum Institute. He said Wednesday that the federal Renewable Fuel Standard isn't working because it requires the oil industry to buy cellulosic ethanol even though none has been produced. "We're not against ethanol. We think this program doesn't work, we've been trying for seven years to make it work. At this point, time to start over," he said. SmartBrief/SmartBlog on Leadership (2/7) LinkedInFacebookTwitterEmail this Story
  API News 
  • Feb. 13 and 14 -- API Specification 6A: Overview
    This two-day course covers all aspects of API Specification 6A/ISO 10423, Specification for Wellhead and Christmas Tree Equipment. API 6A continues to evolve with important revisions of the 19th edition being made through 2008 and with the 20th Edition published in 2010. The seminar covers current information on all sections of the specification, and includes a special briefing on the NACE MR0175 / ISO 15156 specification as it relates to API 6A products. Learn more. LinkedInFacebookTwitterEmail this Story
  • International Trade and Customs Conference Announced
    The 2013 International Trade and Customs Conference, March 17 to 19, will be held in Galveston, Texas. Up-to-date information on what is happening with customs, border protection, and international trade in the areas of duty drawback, imports, exports and foreign trade zones will be presented. Learn more. LinkedInFacebookTwitterEmail this Story

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