In an interview with SmartBrief, American Petroleum Institute Executive Vice President and Chief Strategy Officer Marty Durbin said he sees a bright future ahead for the US oil and natural gas industry and the liquefied natural gas sector in particular, touting the role of US LNG exports in reshaping global markets. Durbin identified infrastructure development and access to export logistics and markets as the keys to industry growth and project success.
Delegates to the OPEC meeting in Vienna have reached a tentative agreement to boost production by 1 million barrels of oil per day. Details of the plan are still being worked out.
The uncertainties surrounding the US-China trade war are narrowing Chinese demand for US crude, with no US crude cargoes expected to be delivered to China's independent refiners over the next few months. Limited supply of medium sour US grades and the high cost of processing US crudes are also driving down Chinese demand.
A shortage of pipeline capacity near the Cushing, Okla., oil hub threatens to slow down oil production growth in Colorado in the immediate future, according to a report from the Colorado Office of State Planning and Budgeting.
Shale firms' newfound focus on financial discipline and shareholder returns jeopardizes much-needed long-term investments in shale, warned Hess Corp. CEO John Hess. "While that financial discipline is healthy, I think it does act like a break on long-term investment," Hess said.
The Environmental Protection Agency is said to be on the verge of scrapping a proposal to redistribute waived biofuels volumes to larger refiners at least for the time being amid pressure from the refining industry. The proposed changes were expected to be unveiled today.
A European Pressurized Reactor in China's Guangdong province, the first of its kind, will connect to the external power grid next month and be fully operational in the third quarter.
The Indian Point nuclear plant is operating safely, the Nuclear Regulatory Commission said Thursday. The plant is scheduled to end operations in 2021.
Triad National Security won an Energy Department contract to manage the Los Alamos National Laboratory in New Mexico. Lab safety culture is a key part of the contract.
Nuclear Development has hired SNC-Lavalin for engineering work on the unfinished nuclear reactor at the Bellefonte site in Alabama.
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