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Oil & Gas Industry Update

Bids invited for UK onshore oil and gas licenses

A new bidding process for onshore oil and gas exploration licenses was opened by the UK government last week.
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Federal Regulators green-light east-coast offshore oil exploration

Companies to use air guns and sonic sensors to pinpoint deposits from Delaware to Florida
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API releases guidelines for oil & gas industry, community cooperation

In an effort to improve the public image of oil and gas companies, the American Petroleum Institute (API) has released a set of guidelines it refers to as "good neighbor standards."
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US overtakes Saudi Arabia, Russia as world's largest oil producer

According to a new report by Bank of America Corp., record output of oil from shale rock formations is fueling economic growth for the U.S.
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Quantum Energy to invest $2.5 billion in 'micro refining' units

North Dakota oil field development specialist Quantum Energy Inc. is planning to take advantage of the abundant Bakken Shale oil reserves and build five "micro refineries" that will produce ready-to-export fuel.
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U.S.-Canadian joint venture completes pipeline from Oklahoma to Gulf Coast

Houston, Texas-based Enterprise Products Partners and Canadian Enbridge Inc. have completed the construction of a 512-mile section of the Seaway Pipeline system, running from Cushing, Oklahoma, to the Jones Creek terminal near Freeport.
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EIA: Refineries unable to deal with increasing proportion of light crudes

Production of U.S. light crude oil and condensates is likely to continue dominating the domestic oil market, accounting for the majority of extra oil extracted over the next two years.
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IHS: Lifting export restrictions on US crude oil would be smart move

Lifting the restrictions on U.S. crude oil exports would be a wise move, says market and economic information provider IHS.
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US companies led the world in fracking technology patents in 2013

U.S. oil and gas services companies were the most active filers of patents for fracking technology last year.
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Gazprom signs 30-year gas delivery contract with China

Russia and China have signed a historic 30-year gas delivery deal that is estimated to be worth more than $400 billion.
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