Crude oil
Shell, ONGC discuss Indian oil, gas opportunities
Executives at ONGC said they were in the process of agreeing to a long-term alliance with Shell to jointly explore oil and gas production. In India, Shell currently has a small retail presence and is involved in developing a liquefied natural gas import and regasification terminal at Kakinada in Andhra Pradesh.
Survey finds majority support Keystone XL pipeline
Nearly 75% of Americans and 68% of Canadians said they support or somewhat support the project, which would carry heavy crude from the Alberta oil sands to the US Gulf for refining. "Energy security, particularly in the US, is driving views on energy issues," said Nik Nanos, president of Nanos Research.
US monthly oil demand nudges up; gasoline down
Despite the modest rise of about 100,000 bpd, demand was the second lowest in March since 1997, the API said. Demand for gasoline, the most widely used petroleum product in the country, fell 2.3% in March to a 13-year low of 8.4 million bpd. First-quarter gasoline use was off 1.7% from a year earlier.
Executives predict shale boom in Russia and China, but Europe lags behind
Torbjorn Tornqvist, chief executive of trading house Gunvor, said Wednesday it was clear that shale production on a scale similar to that in the US is possible in several of the world's biggest current energy producers and consumers -- but that Europe is unlikely to be transformed by it.
Exxon offers to buy homes near Arkansas spill site
The move is part of Exxon's response to the rupture of the Pegasus pipeline, which on March 29 spilled about 5,000 bbl of oil into streets and yards of the community. Crews were still at work this week cleaning some areas, and none of the residents of 22 evacuated homes have yet returned.
Shell mulls sale of downstream businesses in Italy
The potential sale is consistent with Shell’s strategy to concentrate its global downstream businesses where it can be most competitive, according to company officials. Recent examples include the sale of refineries in the UK and Germany and downstream businesses in Finland and Sweden.
Uganda seals deal to build refinery, export pipeline
The agreement to build a refinery with a capacity of just 30,000 bpd was reached following a meeting on Saturday between Mr. Museveni and representatives of the oil companies. It follows a warning from Total in February that failure to include an export pipeline in the plan would stall the development.
Plains to build Cactus crude pipeline in West Texas
Plains said the pipeline is expected to transport both sweet and sour crude oil from the Permian Basin to the Eagle Ford pipeline it operates as part of a joint venture with Enterprise Products. The Eagle Ford pipeline serves markets in Three Rivers, Texas, and Corpus Christi, Texas.
IEA cuts global oil demand outlook, warns on supply
The downward revision by the Paris-based consumer group reflects similar moves by other industry forecasters as concerns over the global economy continue to weigh on demand expectations. The decline reflects very weak demand from industrialized countries, particularly in Europe.
BHP Billiton chairman urges US to promote exports of onshore oil, natural gas
Jacques Nasser, BHP Billiton chairman since 2010, says the export of onshore oil and gas, which has surged in recent years as new extraction techniques have been developed, will bring geopolitical benefits around the world and also create a large number of highly skilled jobs.
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