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Oil & Gas Industry Update

Oil & gas industry missing opportunities to cut methane emissions, consulting firm says

ICF International estimates that methane emissions in the industry could be reduced by up to 40% for a total cost of less than a penny per thousand cubic feet.
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US refiners boost capacity of existing facilities

Although the U.S. has not built a large refinery for decades, existing processing facilities are constantly expanding their capacity in a bid to meet demand for increasing fuel production.
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Marcellus Shale to account for quarter of US natural gas production by 2015

The Marcellus Shale, which spans from New York to West Virginia, is among the most prolific sources of natural gas, but its importance as a driver for gas production is set to increase even further over the next couple of years
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Devon Energy buys Eagle Ford assets to secure oil production growth

Oklahoma City-based energy company Devon Energy Corporation has announced the purchase of 82,000 net acres in the Eagle Ford Shale from GeoSouthern Energy.
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Research links fracking to birth defects in babies

Babies born to mothers who live in areas near shale gas drilling wells are more likely to suffer birth defects, including congenital problems with their hearts and neural tube, a new study conducted by the Colorado School of Public Health warns.
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Regulator fines companies for misclassifying crude oil

Crude oil transported by truck from North Dakota's Bakken region to rail loading stations is frequently misclassified, according to the U.S. Pipeline and Hazardous Materials Safety Administration.
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More mergers, acquisitions in US oil & gas industry in late 2013

Between October and December there were 182 M&A deals closed, worth a total of $115.9 billion.
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Shell looking to sell $1 billion stake in Gulf Coast pipeline

Royal Dutch Shell Plc is reported to be looking for a buyer for its stake in a major crude oil pipeline in the Gulf of Mexico, seeking offers worth approximately $1 billion.
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Global crude oil demand to increase in 2014

This rise in consumption is attributed to demand from countries outside of the Organization for Economic Cooperation and Development, led by China.
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US crude oil export ban should be lifted, Chamber of Commerce says

The pressure on the federal government to lift the ban on U.S. crude oil exports is building, after the U.S. Chamber of Commerce joined the long list of industry groups, trade bodies and organizations that are demanding an end to the restriction.
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