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Oil and Gas Journal

Biofuel mandates could close more refineries, officials warn

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Philadelphia area refinery closures will be only the beginning of shutdowns nationwide if the federal government does not change several key regulations, two oil industry officials warned on Apr. 26.
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Eni-Rosneft pact covers Barents, Black Sea exploration

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Eni SPA and Rosneft have signed a strategic cooperation agreement covering exploration of licenses in the Barents and Black Seas offshore Russia.
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Silurian, Ordovician shales to be explored in Lithuania

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UAB Minijos Nafta will spud an exploratory well in May on the Gargzdai license in western Lithuania that will evaluate several targets including shales of Silurian and Ordovician age.
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Dow plans Texas ethylene plant based on shale gas

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Dow Chemical Co. announced plans to build a 1.5-million tonne/year ethylene plant at its Texas operations in Freeport under a strategy reported a year ago of integrating US operations with feedstocks available from increasing production of natural gas …
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BP agrees to pay $7.8 billion in Macondo settlements

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BP PLC agreed to pay $7.8 billion in settlement agreements with the Plaintiffs’ Steering Committee (PSC) to resolve most of the private economic loss, property damage, and medical claims stemming from the Macondo well blowout.
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USGS updates non-US oil, gas, NGL conventional resource estimates

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The US Geological Survey estimates that the world’s undiscovered, technically recoverable conventional oil and gas resources outside the US total 565 billion bbl of oil, 5,606 tcf of natural gas, and 167 billion bbl of natural gas liquids, it said on…
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Wells abandoned off Sierra Leone, Ivory Coast

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The West African Transform Margin remains “highly prospective” despite two Anadarko Petroleum Corp.-operated exploratory wells that encountered water-bearing reservoirs with oil shows offshore Sierra Leone and Ivory Coast, said Tullow Oil PLC.
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EPA outlines new source performance standards

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The US Environmental Protection Agency outlined a phased approach as it issued long-awaited final rules Apr. 17 to reduce air pollution from oil and natural gas production, including federal air standards for wells that involve hydraulic fracturing.
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BP group okays FEED for second-stage Shah Deniz development

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BP PLC and partners in the Shah Deniz consortium have approved initial work on second-stage development of their giant natural gas and condensate field offshore Azerbaijan in a step that will include selection of an export route across Turkey and into …
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Obama wants stronger steps to curb oil price speculation

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US President Barack Obama called for more aggressive measures to prevent oil-market manipulation, pledging stronger action by his administration and calling on Congress to fund enforcement and increase penalties for violators.
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