BP economist says OPEC needs to boost oil output
The Organization of Petroleum Exporting Countries, which failed to agree on production increases early this month, needs to lift output by about 1 million barrels per day in order to help “maintain a market balance,” the architect of BP’s annual statistical review said in Houston today. More »
Farmers and ethanol makers likely OK without subsidy, experts say
The 45-cent-a-gallon tax credit set to expire at the end of the year doesn’t go directly to ethanol producers, but instead has been an incentive for oil companies like BP, Valero and Exxon Mobil to buy ethanol and blend it with gasoline. More »
Oil slightly higher as markets await Greece vote
“What you’re seeing is a lot of nervous trading right now before this vote in Greece,” PFGBest analyst Phil Flynn said. More »
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IEA: Saudi Arabia likely boosting oil production
The International Energy Agency is monitoring oil markets to determine whether members need to release reserves and cover the gap between commodity supply and demand. More »
GOP targets Dems as ‘anti-energy’ ahead of offshore drilling votes
Republicans and Democrats are both trying to score political points with legislation that would accelerate Arctic offshore drilling projects. Democrats want to force GOP lawmakers to vote on proposals to reveal oil execs’ bonuses and put the CEOs in the path of drillships’ exhaust. More »
Special report: Tritium leaks found at many nuke sites
Tritium, a radioactive form of hydrogen, has leaked from three-quarters of U.S. commercial nuclear power sites, often into groundwater from corroded, buried piping, according to a yearlong investigation.
More »
BP’s Texas City refinery production cut through August
The refinery was hit with an emergency shutdown in April and has run at about half capacity since then, BP says. More »
Hydrocarbon-based ethanol plans fast tracked in China
Dallas-based Celanese plans to expand the ethanol production capacity at its Nanjing facility by 200,000 tons by mid-2013. The chemical manufacturer also will expand its Clear Lake campus for R&D, adding 50 technical jobs. More »
Critics find gaps in state laws to disclose frac chemicals
Five states, including Texas, now require energy companies to disclose some of the chemicals used in hydraulic fracturing. State regulators and the oil and gas industry say the rules should help resolve safety concerns, but critics counter that the requirements fall short of what’s needed to fully understand the risks to public health. More »
Top Transocean rig worker won’t testify in civil suits
Transocean’s Jimmy Wayne Harrell won’t give a deposition in the civil lawsuits that have been filed against the companies and individuals involved in last year’s Deepwater Horizon accident and oil spill. More »
ICE fines Goldman Sachs for ‘disorderly’ oil trading
The $40,000 penalty relates to price spikes on the April 2011 Brent-WTI crude spread in January. The moves were found to be the result of several large market orders placed in quick succession by a Goldman trader, the London-based exchange found. More »
White House solar panels are no-shows
Administration officials blame the complexities of the contracting process, and they can’t say when the project will be complete. Environmental groups say the symbolism is telling – and disappointing. More »
April 26, 2013
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