Oil & Gas Journal News

Light, sweet crude oil prices gained more than $2/bbl on the New York market Dec. 19 as the January contract expired and upon a wire service report Nigeria is planning to reduce crude exports in February.

Unipetrol AS’s plan to acquire soon-to-be former partner Eni SPA’s interest in Ceska Rafinerska AS (CRC) to become the plant’s sole owner would not violate state antitrust laws, the Czech Republic’s Office for the Protection of Competition (UOHS) said on Dec. 19.

Human food from animals might represent a stronger lever for climate-change mitigation than was indicated by a study reported here last week.

A new adjustment to Russian oil and gas taxation will benefit oil companies that export most of their crude oil and high-grade oil products but hurt domestically focused producers, refiners, and petrochemical manufacturers, says Moody's Investors Service.

New Zealand's government has awarded six onshore permits across the Taranaki, West Coast, and East Coast basins, and nine offshore permits across the Taranaki, East Coast, Reinga-Northland, and Pegasus basins, all part of the country's Block Offer 2014.

The Texas Petro Index (TPI), a composite index based on a comprehensive group of upstream economic indicators released by the Texas Alliance of Energy Producers (TAEP), set well-permitting and employment records in October, resulting in another record high score overall.

Cenovus Energy Inc., Calgary, is trimming its capital spending in response to falling crude prices and will slow development of some of its thermal oil sands projects in Alberta.

ConocoPhillips has elected to reduce its 2015 capital budget to $13.5 billion, down 20% compared with this year's budget. The news comes on the heels of crude oil prices hitting 5-year lows.

Woodside Petroleum Ltd. has agreed to acquire interest in the Wheatstone LNG and Kitimat LNG projects, respectively in Western Australia and British Columbia, along with accompanying upstream oil and gas reserves, belonging to Houston independent Apache Corp. for $2.75 billion.

So what, exactly, are best practices? Government policymakers freely use the term these days when they describe what's behind standards they're proposing.

Power Engineering News

In a consortium with Interserve, Babcock & Wilcox Co.’s (B&W, NYSE:BWC) subsidiary, Babcock & Wilcox Vølund A/S (B&W Vølund), will engineer, procure and construct (EPC) a waste-to-energy (WTE) power plant for Viridor UK. The contract is worth approximately $230 million.

South Korea's monopoly nuclear power company said it began drills Monday against possible cyberattacks after online threats of attack against its plants.

The Public Service Commission has approved solar power project planned by Kentucky Utilities and Louisville Gas and Electric in Mercer County.

The Texas Commission on Environmental Quality on Dec. 18 issued notice of a planned approval of air permitting for a gas-fired power project of Rockwood Energy Center LLC.

An American Electric Power (NYSE:AEP) subsidiary has informed the Nuclear Regulatory Commission (NRC) that roughly 2,000 gallons of oil has leaked into Lake Michigan since late October from the D.C. Cook nuclear power station in Michigan.

The Vermont Yankee nuclear plant has made formal its prediction that decommissioning the reactor will cost $1.24 billion.

DTE Electric, a subsidiary of DTE Energy (NYSE: DTE), has filed its first electric residential rate increase in four years. However, due to previously-planned rate adjustments, commercial and industrial consumers will see a rate reduction.

The U.S. Environmental Protection Agency (EPA) Administrator Gina McCarthy announced the agency will now consider coal ash on the same level as household waste as opposed to hazardous waste. Household garbage and coal ash are both listed in the solid waste category, a stretch from the hazardous waste classification.

Fuel Tech Inc. has received multiple air pollution control (APC) contracts, worth approximately $3.6 million, from customers in China, Europe and the U.S.

The staff of the U.S. Nuclear Regulatory Commission (NRC) published Volume 4 of its safety evaluation report on a proposed underground used nuclear fuel repository in Nevada.