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Oil & Gas

Report reveals projected impact of crude oil exports on US economy

The report found that if crude oil exports were allowed the cost of gasoline and diesel fuel would drop, enabling Americans to save an average of $5.8 billion per year.
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Fines for pipeline safety violations hit record high in 2013

The total value of civil penalties imposed on U.S. pipeline operators for alleged safety violations broke all records in 2013, reaching the unprecedented sum of $9.78 million.
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Oklahoma drillers to collect wastewater injection data daily under new proposal

The Oklahoma Corporation Commission has approved new rules that would require fracking companies to record the volume of injected wastewater and the pressure at which it is injected underground on a daily basis.
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Chevron signs renewed agreement for shale development in Argentina

U.S. energy giant Chevron Corporation has announced plans to invest more than $1.6 billion to develop shale reserves in Argentina.
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Global refining industry outlook predicts growth in 2014, 2015

Chinese refiners are predicted to add the largest proportion of new refining capacity planned globally in 2014/2015, with the launch of a further 1.2 million bpd.
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Bakken Shale oil production to hit 1.7 million Bpd in 2020

Oil reserves worth approximately $118 billion are still lying under the Bakken/Three Forks Shale play system in Montana and North Dakota, according to a new estimate by research and consultancy group Wood Mackenzie.
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UK oil & gas companies upbeat for short-term growth

Over the next two years UK oil and gas companies anticipate that they will create as many as 39,000 new jobs.
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TransCanada wins firm natural gas transportation commitments for ANR

Calgary-based pipeline operator TransCanada Corp. has secured long-term commitments for the transportation of nearly 2 billion cubic feet of natural gas per day via its ANR pipeline system.
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BP to close Australian refinery in 2015

BP has announced plans to close down its refinery in Brisbane, citing an inability to compete with large refinery complexes in the Asia Pacific region.
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EPA calls for detailed review of LNG export impact on emissions

The U.S. EPA has urged the Federal Energy Regulatory Commission to assess the potential indirect greenhouse gas effect that liquefied natural gas exports from a Louisiana project may have on the environment.
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