Americas
TransCanada to extend Tamazunchale natural gas pipeline in Mexico
TransCanada said Friday that it will build, own and operate the Tamazunchale Pipeline Extension in Mexico. TransCanada expects to invest approximately $500 million in the pipeline and anticipates an in-service date in the first quarter of 2014.
Lower crude exports from Iran could trigger 30% spike in oil prices - IMF
A halt of Iran's oil exports to Organization for Economic Cooperation and Development (OECD) countries could trigger a 20%-30% spike in oil prices, an International Monetary Fund official said. The EU last month said it would ban all purchases of oil from Iran for countries within the union.
ExxonMobil says oil, gas reserves higher in 2011
ExxonMobil said Thursday the company's 2011 proved oil-and-gas reserves inched up compared with the previous year. The bulk of reserves additions came from the Kearl Expansion Project in Canada, which totaled 1 billion oil-equivalent bbl. Additions were also made in the US, Nigeria and Indonesia.
Obama defends energy policy, blames Middle East turmoil for rising US gasoline
President Barack Obama defended his energy policy from Republican attacks that he has not done enough to counter the recent run-up in gasoline prices. Obama said that more drilling will not bring down the price at the pump. In fact, the US is producing more oil than at any time in the last eight years, he said.
CertifiedSafety opens US Midwest office in Indiana
CertifiedSafety opened a new regional office in this month in Whiting, Indiana, company officials confirmed on Thursday. The new Whiting office is their third regional facility and will serve many clients in US Midwest such as BP Whiting, the nation's seventh-largest refinery.
ITT lands global deal to supply pumps for Shell
ITT announced an agreement with Shell Global Solutions in which ITT’s Goulds Pumps brand will provide American Petroleum Institute (API) centrifugal pumps to support Shell operations worldwide. The deal is for five years with an option for an additional five years. Financial terms were not disclosed.
Tesoro refinery workers reject USW labor contract, strike possible
Union workers at three more Tesoro refineries have rejected new labor contracts, setting up the potential for a strike. A general strike at Tesoro's refineries still negotiating could shut down 500,000 bpd of refining capacity, though it wouldn't spread to refineries run by other companies.
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.
- XRG to expand its global chemicals reach with takeover of Covestro 11/21
- U.S. FERC explores blanket authorizations for LNG projects 11/21
- thyssenkrupp Uhde selected by Dangote Fertilizer Ltd. to license four urea granulation units in Nigeria 11/21
- Indian and Chinese refineries are moving to comply with U.S. sanctions on Russia 11/21
- Dynamis Power Solutions awards Baker Hughes with significant order for gas turbine technology to support mobile power for oil and gas applications 11/21
- EIL signs MoU with Aramco Asia India Pvt. Ltd. for cooperation in various oil/gas activities 11/21
