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Cassidy white paper responds to Democrats’ Green New Deal Resolution

February 15th, 2019

Natural gas already is reducing US greenhouse gas emissions more effectively than what congressional Democrats proposed in their Green New Deal Resolution, US Sen. Bill Cassidy (R-La.), who chairs the Energy and Natural Resources Committee’s Energy Subcommittee, said on Feb. 14.

Queensland grants license for Senex’s Atlas Project

February 15th, 2019

Queensland has granted a petroleum facility license to Melbourne-based energy infrastructure company Jemena for the construction of a natural gas processing plant that will form part of the Atlas Pipeline project. The Atlas project involves the delivery of gas from 100 coal seam gas wells on acreage owned by Senex Energy Ltd., Brisbane, in the Surat basin of southeast Queensland near the townships of Wandoan and Miles specifically to the domestic market.

NOPEC sponsors target wrong source of market mischief

February 15th, 2019

Once again, misinformed US lawmakers want to authorize antitrust litigation against the Organization of Petroleum Exporting Countries.

 

API: US oil industry broke several records in January

February 15th, 2019

The US natural gas and oil industry broke several records in January, according to the latest Monthly Statistical Report from the American Petroleum Institute. US total petroleum demand, as measured by total domestic petroleum deliveries, was 20.7 million b/d in January, which was down 0.2% from December but up 1.1% compared with January 2018. This was the strongest petroleum demand for January since 2005.

Baker Hughes: US rig count gains 2 units to 1,051

February 15th, 2019

The US drilling rig count is up 2 units to 1,051 rigs working for the week ended Feb. 15, according to Baker Hughes data. The count is also up 76 units from the 975 rigs working this time a year ago. With a 1-unit loss week-over-week, 1,028 rigs are drilling on land. The number of rigs drilling offshore gained 2 units to reach 21 rigs. Those units drilling in inland waters gained a single rig to reach 2 units for the week.

PHMSA issues final rule to strengthen oil train spill preparedness

February 15th, 2019

The US Pipeline and Hazardous Materials Safety Administration, in coordination with the Federal Railroad Administration, issued a final rule requiring railroads to develop and submit comprehensive oil spill response plans covering route segments used by high hazard flammable trains.

Eni reports record oil production for 2018

February 15th, 2019

Eni SPA said it achieved record production of 1.85 million b/d during 2018, up by 2.5% from 2017, while its proved reserves replacement ratio again rose above 100% for a 3-year average of 131%, the company said in an earnings statement.

Williams, Targa plan projects to link Conway-Mont Belvieu NGL markets

February 15th, 2019

Williams Cos. and Targa Resources have entered into agreements to expand key systems that will link the Conway, Kan., and Mont Belvieu, Tex., NGL markets. As part of the agreements, Williams will build the 188-mile Bluestem NGL pipeline from its Conway fractionator and the southern terminus of the Overland Pass Pipeline to an interconnect with Targa’s Grand Prix NGL pipeline in Kingfisher County, Okla., while Targa will build a 110-mile extension of Grand Prix from southern Oklahoma into the STACK region of central Oklahoma where it will connect with the Bluestem pipeline.

NAPE: Croatia opens licensing round in Dinarides onshore area

February 15th, 2019

Croatia has opened a licensing round for oil and gas exploration in its central and southern regions with the bid deadline being Sept. 10. Licenses are tentatively scheduled to be announced in December, a spokesman with the Croatia Hydrocarbon Agency (CHA) said. CHA Pres. Marijan Krpan told the North American Prospect Expo in Houston on Feb. 14 that Croatia recently enacted a hydrocarbon law to attract investors and ensure what he calls a smoother transition from exploration into production.

MARKET WATCH: Crude oil gains while US-China trade talks continue

February 15th, 2019

Light, sweet crude oil prices gained for a third consecutive trading session on the New York market Feb. 14, settling above $54/bbl. Meanwhile, the gap between Brent and US futures widened with Brent settling at about a $10/bbl premium above light, sweet crude. Analysts said oil prices also climbed this week because of expectations that US President Donald Trump would extend a March deadline for implementing additional US tariffs on Chinese goods. Trade talks are continuing.

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