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| November 16, 2009 |
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Climate summit likely will leave pollution caps unresolved
Leaders at the weekend Asia-Pacific Economic Cooperation meeting were not optimistic that a legal agreement on emissions caps would be reached in December at the U.N. climate summit in Copenhagen. Until caps are set, experts say, energy companies will continue relying on cheaper fuel sources and will be reluctant to invest billions of dollars into alternatives. The Wall Street Journal (11/16)
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API opposes shorter terms for oil, gas development in U.S. Gulf
The Interior Department intends to lease close to 36 million acres in the Gulf of Mexico next year for oil and gas drilling, but it will reduce the tract-development period for companies. The American Petroleum Institute opposed the policy change, saying the move is another attempt by the federal government to hold back domestic oil and gas development. The plan takes away the "flexibility necessary to operate in an extremely challenging and risky environment," said API chief Jack Gerard. Reuters (11/13)
Shell stresses need for worldwide cap-and-trade concept
Region-specific systems designed to curb carbon production should be expanded into an international cap-and-trade program to prompt more companies to reduce emissions, Royal Dutch Shell said. Such mechanisms are needed in more parts of the globe and should be "linked to each other," said Ranjit Prasad, a Shell executive. Prasad, whose company is among those backing emissions caps, urged sectors not obliged to limit emissions to commit to cutting their carbon output. Houston Chronicle/Bloomberg (11/13)
Experts highlight third-quarter growth in natural gas industry
Natural gas companies in the U.S. performed well in the previous quarter, with nearly half of exploration-and-production businesses increasing their full-year outlooks for output, experts said. Cost-reduction measures and strong production from shale basins allowed the sector to grow during the period, even though spot gas averaged lower than $4 per million British thermal units, the analysts added. The Wall Street Journal (11/16)
Number of oil, gas rigs went up last week, Baker Hughes reports
The number of U.S. oil rigs increased last week, but the count for gas rigs fell as production was reduced amid weak prices, according to data from Baker Hughes. The total number of rigs jumped to 1,101, going up by 23 from a week earlier, the oilfield services company reported. The Wall Street Journal/Dow Jones Newswires (11/13)
Turn down Canadian company's bid for shares, Valero tells stockholders
Valero Energy called on its stockholders to decline TRC Capital's unsolicited mini-tender bid to acquire up to 5 million shares of the company's stock for $16.55 per share. "If the offer were to expire today, Valero stockholders who tendered their shares would lose money compared to the amount they could make by selling their shares on the open market," the company said. San Antonio Express-News (11/13)
Federal sale of oil, gas leases in Colorado nets more than $100,000
The Bureau of Land Management has collected $112,969 from its auction of oil and gas leases on about 6,000 acres in Colorado. ExxonMobil paid $215 per acre for 81 acres in Rio Blanco County -- the highest amount per acre in the sale. Google/The Associated Press (11/13)
ExxonMobil chief outlines plan to expand refinery in Singapore
ExxonMobil is planning an expansion project for its Singapore refinery to generate clean diesel as the company works to provide the region's increasing need for cleaner fuel, CEO Rex Tillerson said. The facility "will start up in a number of phases beginning in 2010 and will be full up in 2011," he added. The Wall Street Journal/Dow Jones Newswires (11/13)
Frontier seeks to dispute EPA action involving Wyo. refinery
Frontier Oil intends to contest a fine worth almost $7 million from the Environmental Protection Agency against the company's Wyoming refinery over claims that the firm disposed toxic waste into a pond built to collect storm water. The EPA cited Frontier for having an inadequate liner for the pond, which has been used to hold hazardous materials. Frontier spokeswoman Kristine Boyd, however, said the company has invested $15 million into pond improvements this year. Houston Chronicle/The Associated Press (11/15)
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Plan to reach political deal at Denmark summit gets Obama's support
President Barack Obama supports a proposal from Danish Prime Minister Lars Lokke Rasmussen to forge a political agreement during climate discussions in Denmark, tackling legally binding measures at a later date, U.S. official Michael Froman said. Leaders think it is "unrealistic" to reach a conclusive deal "between now and when Copenhagen starts in 22 days," he added. Reuters (11/14)
API RP 752 and 753: Facility Siting Regulations and Compliance, April 12, Houston
This course is a management-level overview and addresses the regulatory requirements for facility siting, a review of API RP 752 and RP 753 and an overview of the methods to satisfy the requirements. Anyone managing, performing or reviewing facility siting needs should attend. Click here for more.
Workshop on Security Vulnerability Assessments, Dec. 3 and 4, Washington, D.C.
The American Petroleum Institute presents the leading SVA training for the petroleum, petrochemical and chemical industries. The objective of an SVA is to identify security hazards, threats and vulnerabilities facing a facility and to evaluate countermeasures to provide for the protection of the public, workers, national interests, the environment and the company. This two-day course provides complete instruction on how to conduct an SVA to assess security risks and identify potential countermeasures to reduce vulnerabilities. Attendees receive a CD with related documents including a copy of the API/NPRA "Security Vulnerability Assessment for the Petroleum & Petrochemical Industries." Course instructors have practical, hands-on knowledge from performing SVAs in multiple industries. The workshops provide an opportunity to practice skills. Learn more.
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