Oil prices rebound $2/bbl on the New York market Sept. 21 on signs that the growth of US oil production might be slowing, but commodity prices resumed their zigzag pattern again in early trading on Sept. 22, giving up some of the previous day’s gains. Source: News
Atlantic Coast Pipeline applies for FERC permission to build
Atlantic Coast Pipeline LLC applied to the US Federal Energy Regulatory Commission for permission to build its 564-mile interstate natural gas transmission pipeline. The pipeline—owned by Dominion 45%, Duke Energy 40%, Piedmont Natural Gas 10%, and AGL Resources 5%—will transport as much as 1.5 bcfd southeast from Harrison County, W.Va., to Chesapeake, Va., and Robeson […]
Partnerships are essential for success, new PHMSA administrator says
Partnerships with pipeline owner-operators, state and local governments, and Congress will be critical as the US Pipeline & Hazardous Materials Safety Administration (PHMSA) strives to be a more effective regulator amid rapid change, its new administrator told a US Senate Commerce, Science, and Transportation subcommittee on Sept. 18. Source: News
Second fire within a month hits Pemex’s Tula refinery
Mexico’s Petroleos Mexicanos (Pemex) has extinguished the second fire within a 2-week period at its 315,000-b/d Miguel Hidalgo refinery in Tula, Hidalgo state. Source: News
Hovensa enters deal for sale of St. Croix refining assets, files for bankruptcy
Hovensa LLC, the joint venture of Hess Corp. and Petroleos de Venezuela SA (PDVSA), has entered a deal to sell terminal assets connected to its idled 500,000-b/d refinery on the island of St. Croix, US Virgin Islands. Source: News
Statoil Brazil lets contract for Peregrino development
Statoil Brazil, on behalf of its partners in the Peregrino field license, has let a contract to Wood Group to provide 4-year operations and maintenance for the Alpha and Bravo wellhead platforms as well as modification services for both units and the Peregrino floating production, storage, and offloading vessel. Source: News
Suncor to add 10% interest in Fort Hills oil sands project
Suncor Energy Inc., Calgary, has agreed to acquire 10% working interest in the Fort Hills oil sands project from Total E&P Canada Ltd. for $310 million (Can.), or $230 million (US). The deal is expected to close by yearend. Source: News
Resources, energy minister appointed for Northern Australia
New Australian Prime Minister Malcolm Turnbull has unveiled his new cabinet, appointing former Assistant Treasurer Josh Frydenberg as federal minister for resources, energy, and Northern Australia. Source: News
MARKET WATCH: NYMEX oil price sinks on Fed concerns about world economy
Oil prices sank more than $2/bbl on the New York market Sept. 18 as market participants reacted to comments from the US Federal Reserve about a soft global economy. Fed officials cited worries about how a slowing economy in China could affect the US economy. Source: News
Study finds EISA 2007 law's renewable fuel mandates won't work in 2015
It will not be feasible for the US to reach renewable fuel volumes that the Energy Independence and Security Act of 2007 (EISA 2007) mandates in 2015 and beyond, a study commissioned by the American Petroleum Institute concluded. Source: News