South Texas Industry News
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US should repeal its antique ban on the export of crude
Sooner or later, the US government must allow general export of crude oil. Sooner would be better than later.
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DOE okays Freeport to start LNG exports to non-FTA countries
The US Department of Energy conditionally approved Freeport LNG’s request to export domestically produced LNG from its Quintana Island, Tex., terminal to countries that do not have a free trade agreement with the US.
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Corker-Manchin bill aims to correct unintended RFS subsidy
US Sens. Bob Corker (R-Tenn.) and Joe Manchin (D-W.Va.) introduced legislation on May 16 aimed at correcting what they said was unintentional subsidization of foreign ethanol imports under the federal Renewable Fuels Standard.
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Sinopec starts underground gas storage
Sinopec has begun storing natural gas in a depleted gas reservoir at a facility in central eastern China known as Zhongyuan Wen 96.
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FTC okays Tesoro purchase of BP refinery
The US Federal Trade Commission has approved acquisition by Tesoro Corp. of BP PLC’s refining and marketing business in southern California.
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Arctic nations adopt marine oil pollution preparedness agreement
The world’s Arctic nations formally agreed to cooperate on marine oil pollution preparedness and response at the Arctic Council’s May 15 meeting in Kiruna, Sweden.
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NEB approves Trans Mountain expansion toll
Canada’s National Energy Board has approved toll methodology for the planned expansion of the Trans Mountain Pipeline between Edmonton, Alta., and Burnaby, BC, near Vancouver.
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US drilling rig count unchanged at 1,769
The US drilling rig count was unchanged during the week ended May 17, maintaining a total of 1,769 rotary rigs working, Baker Hughes Inc. reported.
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MARKET WATCH: Oil prices continue climbing as gas price drops
Oil prices continued rising with the front-month crude contract up 0.9% in the New York futures market May 16 despite a report from the US Department of Labor showing a rise in claims for unemployment benefits, stimulating worries about economic recovery.
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Uzbekistan: Tethys Petroleum signs exploration protocol
Tethys Petroleum Ltd. has signed a protocol of intent with the Uzbek state oil and gas company Uzbekneftegaz for exploratory work on the Bayterek block in the North Ustyurt basin in northern Uzbekistan.
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