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In the News

Work stoppages commence at largest US refinery, three other facilities - Work stoppage notices were delivered to Motiva's 600 MBPD at Port Arthur, TX and two other refineries and a chemical plant. The new sites bring the total of affected facilities to fourteen. - Oil & Gas Journal - 2/23/15

Blast hits Southern California oil refinery - Explosion rocks ExxonMobil refinery at Torrance. PennEnergy - 2/18/15 

West Virginia oil train derailment: Fires for hours, smoke - Train with 100 tanker cars carrying Bakken crude oil derailed and caught fire. - PennEnergy - 2/17/15 

Company suspends efforts to seize Nebraska land for Keystone oil pipeline - PennEnergy - 2/13/15 

US House vote sends Keystone XL approval bill to Obama's desk - The US House of Representatives voted by 270 to 152 to pass S. 1, which would deem the proposed Keystone XL crude oil pipeline approved more than 6 years after sponsor TransCanada Corp. applied for its presidential crossborder permit. The Feb. 11 action sends the measure to US President Barack Obamaís desk, where it is likely to be vetoed. - Oil & Gas Journal - 2/12/15

Energy Market: Oil on wild ride, How will it end? - Arguments for increase, decrease, or stay the same with little consensus. - PennEnergy - 2/10/15 

BHI: US rig count down 87 units in 10th straight week of losses - Total is lowest since March 26, 2010, and 315 units lower than last year. The count has decreased by 464 units of which 435 were targeting oil. - Oil & Gas Journal - 2/6/15

Oil's Survival of the Fittest: Interview with Stan Szary of Saturn Minerals - Mr. Szary says, "For conventional light oil projects in Western Canada--like Saturnís--with operating costs at $20 a barrel, its business as usual. For shale oil, heavy oil and oil sands projects, where operating costs can be anywhere from $50 to $100 a barrel, the outlook is far more challenging." OilPrice - 2/5/15

Union strike underway at US refineries, petchem plants - United Steelworkers Union has instituted a strike at nine US refineries and petrochemical plants. The strike affects 1,950,000 B/D of capacity or 12.4% of US refinery capacity.  Oil & Gas Journal - 2/2/15

US Senate passes bill approving Keystone XL pipeline - Oil & Gas Journal - 1/30/15

Low oil prices produce 2015 budget cuts.

    PNR cuts capital spending nearly in half - Oil & Gas Journal - 2/11/15

    Chevron's capital budget down 13% from last year - Oil & Gas Journal - 1/30/15

    Shell cuts $16 billion in spending - Oil & Gas Journal - 1/30/15

    Oxy cuts capital budget by a third - Oil & Gas Journal - 1/30/15

US House approves bill aimed at increasing LNG exports - Oil & Gas Journal - 1/28/15

Obama administration moves to create first methane limits for gas drilling - The Obama administration said Wednesday it will issue the first regulations to cut down on methane emissions from new natural gas wells, aiming to curb the discharge of a potent greenhouse gas by roughly half. - PennEnergy - 1/14/15

PetroStrategies Developments

A Layman's Guide to the Oil and Gas Industry - class updated for 2015

Fundamentals of Downstream Operations - class updated for 2015

Understanding and Evaluating Oil and Gas Investments - class updated for 2015

Fundamentals of Upstream Operations - class updated for 2015

PetroStrategies Editorials

February 4, 2015 - Retirees leave with pension and knowledge

January 14, 2015 - Coking Capacity, Heavy Canadian Crude Imports, and the Keystone XL Pipeline

January 6, 2015 - Deja Vu - This All Seems Very Familiar

January 1, 2015 - Been there, done that, got the t-shirt

Latest ranking of the World's Largest Oil and Gas Companies

New listing of Biggest US Oil and Gas Companies

Gas prices hold hope for upstream operators. Expect shift from oil drilling to gas drilling.

Check out the Oil and Gas Timeline from Timelines of History.

  Please click on the link to learn more.

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Copyright 2000 PetroStrategies, Inc. All Rights Reserved