Oil & Gas Journal News

Hess Corp. has sold its interests in Tailand’s Sinphuhorm and Pailin fields to PTT Exploration & Production PCL (PTTEP) for $1 billion, effective July 1, 2013.

Crude oil futures fell more than $2/bbl on the New York market during Apr. 22 trading while analysts awaited the Apr. 23 release of a weekly US government inventory report, which showed another rise in oil supply as they had anticipated.

Michael G. Moore has been named chief executive officer and a director of Gulfport Energy Corp., Oklahoma City. He had been interim chief executive and chief financial officer. He joined Gulfport Energy in 2000 and became president in August 2013.

Turkey and OAO Gazprom have discussed a possible increase in natural gas capacity of the Blue Stream gas pipeline to 19 billion cu m/year from 16 bcm/year. Blue Stream, which extends through the Black Sea, handles more than half of all gas purchased by Turkey from Russia.

Enterprise Products Partners LP (EPP) plans to build a fully refrigerated ethane export plant on the Texas Gulf Coast. EPP has executed long-term contracts to support the development, designed to have an aggregate loading rate of about 10,000 bbl/hr, or as much as 240,000 b/d. EPP expects the plant, which it describes as the largest in the world, to begin operations in third-quarter 2016.

BP PLC reported that it will sell interests in four BP-operated oil fields on the Alaska North Slope to Houston independent Hilcorp.

The North American oil and gas market started the year on a good note during the first quarter as a cold winter brought relief to producers and refiners, and Mexico progressed on energy reform, Ernst & Young said in its US quarterly report on the industry.

US petroleum product exports in 2013 averaged 3.5 million b/d, up 10% from levels in 2012, according to the US Energy Information Administration. In December 2013, US exports of petroleum products reached 4.3 million b/d, the first time to exceed 4 million b/d in a single month.

Simba Energy Inc., Vancouver, BC, has signed an agreement with Bell Geospace to conduct a comprehensive airborne full-tensor gradiometry (FTG) survey on Block 2A in Kenya. The 30-day survey is expected to start in early May.

The decision to give eight federal agencies more time to prepare comments about the proposed Keystone XL crude oil pipeline project’s cross-border permit was not political, White House Press Secretary Jay Carney said.

Power Engineering News

Over the next few weeks, power companies will roll out their first set of quarterly earnings reports following the completion of the harsh winter punctuated by the so-called ‘polar vortex' in January.

The Federal Energy Regulatory Commission on April 22 approved the sale by NRG Energy (NYSE: NRG) of stakes in several power plants now co-owned by affiliates of oil producer Chevron (NYSE: CVX).

Google Inc. and SunPower Corp. announced a new financing program that will provide approximately $250 million for residential solar lease projects.

Deutsche Bank Securities Inc. will provide construction financing for SunEdison's (NYSE:SUNE) two solar power plants to be built in Ontario, Canada.

A 549-MW natural gas combined-cycle power plant will be built on a 37-acre site in Marshall County, W.Va with construction planned to begin in mid-2015.

Duke Energy's North Carolina State President, Paul Newton, spoke before the N.C. Joint Environmental Review Commission (ERC) on the company's response to the Feb. 2 Dan River coal ash spill and its plans to address its coal ash sites across the state.

Carol M. Browner, former Environmental Protection Agency (EPA) Administrator and former director of the White House Office of Energy and Climate Change Policy has joined Nuclear Matters’ Leadership Council.

Oklahoma Governor Mary Fallin has signed an Executive Order to promote the growth of distributed solar and wind in the state.

American Electric Power is planning to invest around $4 billion in capital per year from 2014 through 2016 while prioritizing transmission, AEP CEO Nicholas Akins told company shareholders at an annual meeting Tuesday.

Dayton Power & Light has filed an appeal to a March order by the Ohio Public Utilities Commission requiring the utility to hasten its divestiture of around 3,400 MW of mostly coal-fired capacity, according to a report from Platts.