Oil & Gas
Top stories summarized by our editors
10/20/2017

Purdue University scientists say a cavernous area below the moon's surface could serve as a safe moon base and offer new types of rocks and scientific data. A large lava tube, which formed when the outer edges of lava hardened, is located in the moon's Marius Hills area and could protect people from the sun's radiation and other dangerous lunar conditions, researchers say.

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Marius Hills, Purdue University
10/19/2017

The US typically delivers more than 1 million barrels of crude oil and 6 million barrels of petroleum products per day to foreign markets, according to an Energy Department report. Most cargoes are being shipped from Texas ports in or near Corpus Christi and Houston.

10/19/2017

Charif Souki, a founder of LNG terminal developers Cheniere Energy and Tellurian, says foreign buyers are reluctant to sign fixed, long-term contracts, prompting US LNG developers to consider more flexible supply deals or equity commitments.

10/19/2017

ExxonMobil has bought a crude oil terminal in the Delaware Basin from Genesis Energy for an undisclosed amount. The terminal, with a capacity of 100,000 barrels per day and the ability to expand, will serve Exxon and other producers.

10/19/2017

US crude inventories dropped by 5.7 million barrels last week against analyst expectations of a decline of 3.9 million barrels, according to the Energy Information Administration. Gasoline supplies climbed by 900,000 barrels, while distillates were up by 500,000 barrels.

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MarketWatch
10/19/2017

The Bureau of Ocean Energy Management has published a draft environmental impact statement for an Arctic drilling proposal submitted by a Hilcorp subsidiary and will accept public comments on the plan until Nov. 18. The Liberty Project involves building an artificial gravel island east of Prudhoe Bay to accommodate 16 wells, a processing facility and an undersea pipeline.

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The Associated Press
10/19/2017

Sens. Bill Cassidy, R-La., and Marco Rubio, R-Fla., have introduced a bill seeking to streamline the approval process for small-scale liquefied natural gas projects that aim to export up to 51.1 billion cubic feet of LNG per day. "The faster approval of small-scale natural gas shipments will create American jobs, improve Caribbean energy security and lower greenhouse gas emissions," Cassidy said.

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The Hill
10/19/2017

Scientists used an imaging technique and studied geodetic data to learn more details about the seismic plates causing earthquakes on New Zealand's North and South islands. A method known as magnetotellurics, which measures the electrical conductivity of rocks beneath the surface of the Earth, helped create an image displaying the electrical resistivity linked to seismic activity.

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Eos
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New Zealand, South Islands
10/19/2017

Mexican petroleum company Pemex plans to look for oil in a pre-salt area in Mexico's Bay of Campeche. The well will be in water 50 meters deep and drilled 7,800 meters below sea level, says Mexico's National Hydrocarbons Commission, which has approved Pemex's plans.

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Offshore Engineer
10/19/2017

India's oil minister says his country and Mozambique intend to speed up the development of an offshore natural gas block measuring about 10,000 square kilometers in the northern part of the Mozambique Rovuma Basin. Exploration of the block has resulted in five discoveries that may hold about 60 trillion cubic feet of recoverable resources.