Oil & Gas
Top stories summarized by our editors
2/22/2018

California Gov. Jerry Brown met with Interior Secretary Ryan Zinke on Tuesday to express his disapproval of the Trump administration's proposal to open federal waters off California's coast to drilling. "Secretary Zinke made it clear that California's views will be taken into account," said Brown spokesman Evan Westrup.

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The Hill
2/22/2018

US District Judge Brian Morris has given the federal government until March 21 to review and release all relevant documents related to President Donald Trump's approval of the Keystone XL oil pipeline or offer explanations as to why the papers should not be made public. Justice Department attorneys said a review of the roughly 5 million pages of documents could take over six years and cost $6.3 million.

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The Associated Press
2/22/2018

US crude stockpiles unexpectedly fell by 907,000 barrels last week, according to the American Petroleum Institute. Gasoline inventories rose by 1.468 million barrels, while distillate supplies were down by 3.563 million barrels.

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OilPrice (UK)
2/22/2018

The shortage of pipeline capacity that's widening Canadian crude's discount to US oil is costing oil producers in western Canada as much as $13.36 per barrel, or about $12.3 billion per year, according to Scotiabank economists. They expect the price differential between Canadian and US crude to return to normal levels once pipeline projects such as Line 3 and the Trans Mountain expansion enter service.

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Oil & Gas Journal
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US, Scotiabank, Canada
2/22/2018

Pipeline operator Energy Transfer Partners saw its earnings jump more than fourfold last year to $2.5 billion, boosted by the recent tax bill and the approval of the Dakota Access Pipeline. ETP reported a profit of 57 cents per share in the fourth quarter, beating the highest analyst estimate of 49 cents per share.

2/22/2018

Scientists can track underground lava flow with fewer sensors, a study says. Using seismic amplitude ratio analysis, which only needs the background amplitude of seismic waves to determine an earthquake's origin, a team showed it needed only 15 stations to track the underground path of magma during the 2014 surge at Iceland's Holuhraun lava field.

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Eos
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Iceland
2/22/2018

Oil and natural gas drillers plan to increase offshore projects by 140% this year, says Jeremy Thigpen, president and CEO of Transocean. Explorers who previously cut budgets and halted risky offshore projects during the downturn in crude prices now have renewed confidence and money to spend as prices have come back up.

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Jeremy Thigpen, Transocean
2/22/2018

Companies doing oilfield work say they've found onshore oil flowing to the surface naturally at two sites in Jamaica. The seeps, which suggest the island has oil potential, will be of interest to explorers, CGG GeoConsulting and the Petroleum Corporation of Jamaica said.

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Jamaica
2/22/2018

Brazil has authorized 14 companies to bid on offshore and onshore oil and natural gas exploration blocs in a March 29 auction. BP, ExxonMobil, Repsol, Petroleo Brasileiro, Royal Dutch Shell and Total are among the companies receiving approval Wednesday from Brazilian oil regulator ANP.

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Reuters
2/22/2018

Spirit Energy has started an oil-drilling project off the coast of Norway at the Oda field, which may contain 48 million barrels of oil equivalent. The company plans to drill three wells to a depth of 66 meters for an estimated 226 days.

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Norway