The Environmental Protection Agency has suspended several rules for gasoline storage facilities and bulk fuel terminals, including tank tightness and registration standards under the Clean Air Act and rules on gasoline storage tank emissions. "Under EPA's no action assurance letters, the facilities must continue to exercise good air pollution control practices and comply with all other federal, state and local environmental laws," the agency said.
At least 13 refineries from Louisiana to Montana are delaying seasonal maintenance for weeks or months either to capitalize on the strong margin environment or because they lack personnel as most workers are busy helping restart Texas facilities hit by Hurricane Harvey. "If you're a refiner in the Midwest and you are unaffected, you're probably going to want to keep churning out product to take advantage of the high margins," Confluence Investment Management Chief Market Strategist Bill O'Grady said.
ExxonMobil, Royal Dutch Shell, Chevron, BP and Total cut their greenhouse gas emissions by an average of 13% between 2010 and 2015, according to a Bloomberg New Energy Finance report. The oil majors have taken efforts to deploy low-emission equipment, anti-pollution measures and climate and efficiency policies, according to the report.
Williams Partners on Friday kicked off construction in Pennsylvania on the greenfield portion of its Atlantic Sunrise project, the nearly $3 billion expansion of the Transco natural gas pipeline. The initial phase of construction was marked by site preparation for two new natural gas compressor facilities in Columbia and Wyoming counties, while work on the 186-mile pipeline could begin on Monday.
The Sierra Club and the Center for Biological Diversity have filed a lawsuit against the Bureau of Land Management to stop the agency from opening federal land in Nevada to oil and natural gas drilling. The environmental groups want a judge to revoke the drilling leases BLM sold in June on the grounds that the bureau didn't properly consider the potential effects of hydraulic fracturing.
October West Texas Intermediate closed up 2 cents at $49.91 per barrel on Monday, marking the third straight session that oil failed to hold the $50-per-barrel level despite rallying 5.1% last week. Oil's inability to hold above $50 per barrel is due to lower oil demand as refiners prepare for seasonal maintenance work as well as US oil producers' rush to hedge every time WTI nears the $50-per-barrel mark.
Colonial Pipeline announced Monday that refiners in Port Arthur, Texas, could resume fuel flows into Colonial's lines using their own pumps since the Port Arthur injection point will likely undergo repairs until the end of the month. Colonial Pipeline's system has sustained damage due to flooding caused by Hurricane Harvey and is operating at reduced flow rates.
Resolute Energy has agreed to sell its enhanced oil recovery assets in Utah's Aneth Field to Elk Petroleum for $160 million in cash and up to $35 million in contingency payments. The sale is part of Resolute's strategy to become a pure-play Delaware Basin operator.
The Georgia Public Service Commission will vote today to decide whether Georgia Power's revised estimate of $12.17 billion in total costs and new construction schedule for the Plant Vogtle nuclear power plant are reasonable, a necessary bar to meet under state law. Under the new schedule, Units 3 and 4 will be completed in November 2021 and November 2022, respectively.
Santee Cooper President and CEO Lonnie Carter warned that SCANA shouldn't sell at a discount the required parts to complete the expansion of the V.C. Summer nuclear plant, which are on site, to pay off debts now because it will have to buy them at full price if it chooses to complete the project when market conditions improve. "I caution us not to walk away from this investment," Carter said.
- Page 1