• Pruitt proposes revisions to air emissions rules for refiners
    on March 20, 2018 at 8:45 pm

    US Environment Protection Agency Administrator Scott Pruitt proposed amendments to the Petroleum Refinery Sector Risk and Technology Review and the New Source Performance Standards. The corrections will provide refiners regulatory clarity and savings of as much as $11.5 million/year in compliance costs, he said. […]

  • BSEE unveils program to increase inspection time offshore, save money
    on March 20, 2018 at 5:24 pm

    The US Bureau of Safety and Environmental Enforcement will begin a new program on Apr. 1 that will increase physical inspection time offshore while saving nearly $20 million over 3½ years, the US Department of the Interior agency reported. […]

  • Delek divests idled California refining, logistics assets
    on March 20, 2018 at 5:14 pm

    Delek US Holdings Inc. has completed the sale of its idled refining assets in Paramount and Long Beach, Calif., to an affiliate of Boston-based World Energy LLC. […]

  • EnerVest, TPGE enter $2.66-billion combination with South Texas assets
    on March 20, 2018 at 5:05 pm

    EnerVest Ltd. has agreed to sell its Eagle Ford and Austin Chalk assets to TPG Pace Energy Holdings, an energy-focused special purpose acquisition entity led by former Occidental Petroleum Corp. Chief Executive Officer Steve Chazen, for $2.66 billion in cash and stock. […]

  • SandRidge to review strategic alternatives after rejecting Midstates’ proposal
    on March 20, 2018 at 4:48 pm

    SandRidge Energy Inc. will evaluate strategic alternatives after rejecting Midstates Petroleum Co. Inc.’s unsolicited public offer to combine the two companies.&nbs […]

  • MARKET WATCH: Crude oil prices volatile as Saudis visit US
    on March 20, 2018 at 3:49 pm

    The light, sweet oil contract for April dropped modestly on the New York market Mar. 19 to settle just above $62/bbl. Meanwhile in London, the Brent crude oil for May delivery dropped slightly to settle just above $66/bbl. But oil prices increased in early Mar. 20 trading. […]

  • Commerce Department announces steel tariff exemption process
    on March 19, 2018 at 8:43 pm

    The US Department of Commerce announced a process for companies that import steel and aluminum to be excluded from tariffs ordered by President Donald Trump more than 2 weeks earlier. “Starting tomorrow, domestic industry will be able to apply for exclusions through a fair and transparent process run through Commerce’s Bureau of Industry and Security,” Commerce Sec. Wilbur L. Ross said. […]

  • MARKET WATCH: NYMEX, Brent crude prices up more than $1/bbl
    on March 19, 2018 at 3:01 pm

    Crude oil prices climbed by more than $1/bbl on the New York and London markets Mar. 16, but US light, sweet prices then dropped in early Mar. 19 trading on economic concerns, including suggestions of a trade war by some nations aimed at US steel and aluminum tariffs. […]

  • Iraqi oil ministry seeks refinery bids
    on March 16, 2018 at 5:12 pm

    Iraq’s Ministry of Oil is seeking international bids for construction of a 70,000 b/d refinery near Hadditha in Anbar Province. […]

  • OMV to acquire Shell’s upstream business in New Zealand
    on March 16, 2018 at 5:08 pm

    OMV AG, Vienna, reported it would acquire from Royal Dutch Shell PLC the supermajor’s upstream assets in New Zealand for $578 million. The deal adds recoverable resources of as much as 100 million boe to OMV’s portfolio, the company said. […]

  • EnerVest MLP seeking reorganization
    on March 16, 2018 at 4:16 pm

    EV Energy Partners LP, a publicly traded master limited partnership created by EnerVest Ltd., Houston, has proposed a prepackaged plan of reorganization under bankruptcy protection. The plan would exchange $343 million of debt with equity in 95% of the reorganized company. […]

  • Statoil’s name to be changed to Equinor
    on March 16, 2018 at 3:34 pm

    Statoil SA will become Equinor. The name will change after a shareholder vote scheduled May 17. The Norwegian government, Statoil’s majority shareholder, supports the proposal by the board of directors. […]