Americas
Chesapeake plans to double US production of oil, liquids by 2015
Chesapeake Energy said it plans to more than double its oil and liquids production by 2015 as the natural gas giant aims to become one of top five US oil producers. The company plans to produce about 250,000 bpd of oil and natural gas liquids by 2015, up from about 104,000 bpd in the fourth quarter.
Hess, PdVSA finish shutdown of Hovensa refinery venture in Virgin Islands
Hovensa completed the previously-announced shutdown of its 350,000 bpd refinery on the US Virgin Island of St. Croix, the company said. The oil-fuel refinery is a joint venture between oil company Hess and Petroleos de Venezuela (PdVSA), the state-owned oil company of Venezuela.
API says more US oil needed to cut gasoline costs
John Felmy, chief economist with the American Petroleum Institute (API) trade group, says the US must develop more of its own oil and natural gas and allow additional oil imports from Canada. "By far, the single biggest factor in today’s higher gasoline prices is the rising cost of crude oil," Felmy said.
ExxonMobil LNG venture in Papua New Guinea sets expansion target
A $15.7 billion energy venture in Papua New Guinea operated by ExxonMobil may know by the end of the year if it has enough gas for an expansion that could vastly improve its profitability. Initial drilling to support a possible expansion of the project has been pushed back until mid-2012.
Williams, Cabot plot new US Marcellus gas pipeline
Cabot Oil & Gas on Tuesday unveiled a new joint venture with Williams Partners to develop and construct a large diameter pipeline to transport Cabot's Marcellus shale gas production to both the New England and New York markets. The initial in service date is slated for March 2015.
SemGroup, Chesapeake, Gavilon form JV to build Oklahoma crude pipeline
A venture between SemGroup, Gavilon Midstream Energy and a Chesapeake Energy affiliate plans to build a 210-mile pipeline in western and north central Oklahoma to deliver crude oil to a storage facility in Cushing, Okla. Construction should begin in July and service is expected in the 2013 third quarter.
US, Mexico agree to collaborate on Gulf oil projects
The United States and Mexico agreed Monday to work together on oil and gas development in the Gulf of Mexico, paving the way to end a long-running moratorium on their maritime border. "For the first time, American energy companies will be able to collaborate with Pemex," Clinton said.
FMC Technologies to acquire automation company Control Systems International
FMC Technologies said Friday it has agreed to acquire Control Systems International (CSI), a supplier of process control and automation system solutions. Headquartered in Lenexa, Kansas, with operations in Irvine, California, and London, England, CSI has approximately 150 employees.
US January petroleum demand falls from 2011 on lower heating oil use - API
Total petroleum deliveries (a measure of demand) fell 5.7% this January compared with January 2011 to just over 18 million bpd, according to monthly data from the American Petroleum Institute (API). The slide in heating fuel demand reflects January’s relatively warm temperatures, the group said.
US officials approve Shell oil spill plan for Alaska
US officials have approved an oil-spill plan for Royal Dutch Shell as the company looks to begin drilling in the Arctic, saying that Shell has demonstrated its ability to respond to potential spills in icy waters despite protests from environmental groups. Shell still has to obtain drilling permits from the Interior Department.
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