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August 20, 2012
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News for the oil and natural gas industry

  Top Story 
  • API: Court's approval of E15 a "big loss" for consumers
    Fuel retailers can continue to sell gasoline with a 15% ethanol blend for vehicle model years 2001 and newer provided they comply with Environmental Protection Agency standards, a federal court ruled. "Today's court decision is a big loss for consumers, for safety and for our environment," said Bob Greco, director of downstream operations at the American Petroleum Institute. "EPA approved E15 before vehicle testing was complete, and we now know that the fuel may cause significant mechanical problems in millions of cars on the road today." The Hill/E2 Wire blog (8/17) LinkedInFacebookTwitterEmail this Story
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  Industry News 
  • Shell still plans to drill offshore in Alaska this year
    Royal Dutch Shell still plans to start drilling off the Alaskan coast this year despite encountering several environmental and technical challenges. The company has yet to complete work related to an oil spill response vessel, and some areas off the state's northern coast remained inaccessible late into the year because of the slow breaking of sea ice. That reduced the time available for drilling, and fall is fast approaching. However, Shell "absolutely expects to drill this year," said Pete Slaiby, vice president of Shell Alaska. The Wall Street Journal (8/19) LinkedInFacebookTwitterEmail this Story
  • ATP Oil & Gas seeks bankruptcy protection
    The U.S. government's temporary moratorium on offshore drilling played a role in ATP Oil & Gas' decision to file for Chapter 11 bankruptcy, the company said. "ATP expects its oil and gas operations to continue in the ordinary course throughout the reorganization process and sees the reorganization as a helpful step towards deleveraging the company to position it for future development of its assets," the company said. (8/17) LinkedInFacebookTwitterEmail this Story
  • Other News
  Exploration & Production 
  • Anadarko acquires shares in South African offshore blocks
    Anadarko Petroleum has agreed to acquire shares in two blocks off the South African coast from PetroSA, the companies announced. Anadarko will own an 80% interest in the blocks and will become operator, under the terms of the agreement, the value of which was not disclosed. Reuters (8/17) LinkedInFacebookTwitterEmail this Story
  • Report: Uinta development contributes to Utah emissions
    Oil and natural gas development in Utah's Uinta Basin contributes to high ozone-emission readings in the state's eastern portion, according to an interim report from the Winter Basin Ozone Study, but several observers believe weather conditions also play a key role. Additional studies are needed to determine how to protect public health while also helping the energy industry do business, according to Uintah County Commissioner Mike McKee and impact district director Paul Hacking. The science must be thorough "so that effective mitigation can take place while providing energy for America and jobs in the Uinta Basin," added Kathleen Sgamma, vice president of government and public affairs for the Western Energy Alliance. The Salt Lake Tribune (Utah) (8/17) LinkedInFacebookTwitterEmail this Story
  Featured Content 

  Policy Watch 
  • IEA chief urges drillers to address concerns surrounding fracking
    Energy producers need to address the potential effects of hydraulic fracturing on water supplies and strengthen transparency about the drilling technique, said Maria van der Hoeven, executive director of the International Energy Agency. "Companies have to realize that they need to be transparent about what they are doing and they need to take the people's concerns seriously," van der Hoeven said during a conference at Rice University. Houston Chronicle (8/17) LinkedInFacebookTwitterEmail this Story
  • U.S. would consider tapping SPR to reduce crude prices, aide says
    The U.S. would consider releasing crude from the country's Strategic Petroleum Reserve to reduce global crude oil prices, a spokesman said. "The administration does carefully monitor the global oil market and the global price of oil," said White House spokesman Josh Earnest. The U.S. would "continue to coordinate" with other countries about its findings," he added. Reuters (8/17) LinkedInFacebookTwitterEmail this Story
  • Sen. Wyden urges FTC to focus on West Coast refiners
    The Federal Trade Commission should monitor petroleum producers in the West Coast to make sure they "are not taking unfair advantage of the situation to jack up prices," on customers in Oregon, said Sen. Ron Wyden, D-Ore. Fuel prices in Oregon rose by over 20 cents per gallon after Chevron's Richmond, Calif., refinery caught fire last week. "In these difficult economic times retail consumers and businesses are already struggling with high fuel costs," Wyden said. The Hill/Floor Action blog (8/17) LinkedInFacebookTwitterEmail this Story
  API News 
  • Tank Inspection, Repair, Alteration and Reconstruction Sept. 17 to 21
    This one-week course, taught by a very experienced API 653-certified tank engineer, will review the API tank inspection standard. Included in this course are demonstrations of some inspection and testing protocols and technologies at the tank farm in the Fuel Systems Demonstration Facility outside the Datanet Engineering office building in Owings Mills, Md. Learn more. LinkedInFacebookTwitterEmail this Story
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