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Oil and Gas Roundup — Jan. 8

January 08, 2014
TOPICS: In the news
A roundup of oil and natural gas industry news from around the state, nation and world:

Gov. Fallin relaxes propane transport rules amid shortage

Oklahoma joined 15 other states in relaxing licensing requirements for propane truckers, responding to a shortage of the fuel in the region due to refinery shutdowns and higher demand amid cold weather.

Gov. Mary Fallin's executive order allows eligible, out-of-state propane truckers to transport the fuel into the state without first getting a license. It also temporarily waives rules that limit the number of hours propane truck drivers can be on the road in a shift. The order expires Feb. 4.

“This executive order will help make sure that there is enough of a propane supply in the days and weeks ahead until problems are resolved,” Fallin said in a statement.

Read the NewsOK article: http://newsok.com/oklahoma-gov.-mary-fallin-relaxes-propane-transport-rules-amid-shortage/article/3921762/?page=1.


Retailers plan 13 new CNG stations in region

Compressed natural gas vehicle owners and operators soon will have more options throughout the region.

Two Oklahoma retailers on Tuesday announced plans for a combined 13 new CNG stations in Oklahoma and Texas.

Love's Travel Stops and Country Stores is adding one CNG pump in eastern Oklahoma City and nine in Texas, said Bill Cashmareck, general manager of natural gas.
The stations will provide fast-fill pumps for large trucks, filling at 10 gallons per minute. The locations also will include pumps for cars and light-duty trucks.

“CNG will be integrated in our lane experiences,” he said. “We want trucks to get in and out as efficiently as possible."

Read the NewsOK article: http://newsok.com/retailers-plan-13-new-cng-stations-in-region/article/3921701.


Drilling industry could add 44K jobs in Midwest by 2025, report says

The Midwest’s growing oil and gas sector, including Ohio’s Utica shale play, could add more than 44,000 direct jobs by 2025, the American Petroleum Institute is predicting.

A report issued Tuesday by the nation’s largest oil and natural gas trade group estimated that 258,719 direct jobs could be added in the U.S. by 2025, with 44,147 of them originating in the Midwest. That’s about 17 percent of total new jobs. API predicts hundreds of thousands of other jobs could be added indirectly because of the industry’s growth.

API also estimated an average of $80 billion would be invested annually in U.S. midstream and downstream petroleum infrastructure from this year to 2020. Many oil and gas projects are in the construction and development phase, but investment will gradually taper after 2020, curtailing to about $60 billion by 2025, the report says.

API expects most of investment to remain in the South. With an annual average nationwide investment of $73.8 billion from 2014 to 2025, for example, the organization estimates $41.5 billion of that amount to go to Southern states, $14.1 billion out West, and $11.8 billion to the Midwest, home to Ohio and its Utica shale play.

Upstream investment – exploring and production – has far outpaced the midstream capabilities in Eastern Ohio’s Utica shale play, but that’s changing as investment in infrastructure picks up steam.

Read the report: http://www.api.org/~/media/Files/Policy/SOAE-2014/API-Infrastructure-Investment-Study.pdf.


Critics blame Cuomo for NY gas price spike

Constraints on natural gas supplies are driving up heating prices in New York as the state faces bitterly cold temperatures, and some say Gov. Andrew Cuomo’s indecision on key oil and gas regulations is exacerbating the problem.

Cuomo has repeatedly delayed a decision on whether to allow hydraulic fracturing, an innovative oil and gas extraction technique, in the state. As demand for natural gas skyrockets during the ongoing cold snap, experts say a lack of supply in New York is driving up prices.

Prices are up throughout the northeast, according to the Energy Information Administration. But neighboring Pennsylvania, which has mostly embraced fracking, has seen much smaller increases in natural gas prices than New York.

“The importance of supply changes for prices is shown at the Transco Leidy Hub in Pennsylvania where prices in 2013 were only 11 percent higher than in 2012, despite much greater absolute and percentage price increases at nearby hubs serving New York City and Boston,” EIA explained in a report released on Tuesday.

Read more: http://freebeacon.com/critics-blame-cuomo-for-ny-gas-price-spike/.


API pushing pro-energy agenda in leadup to elections

The American Petroleum Institute vowed Tuesday to ratchet up the pressure on Washington, saying its lobbying arm would push for policies—and politicians—more favorably disposed to America's oil and gas boom.

With congressional elections less than a year away, and with the controversial Keystone XL pipeline still on indefinite hold, the industry's main trade organization said that it would expend resources to "spur more pro-energy policies and to ensure that our nation's discussion on energy policy is based on fact and reality, not political orthodoxy and hyperbole," said Jack Gerard, API's president and CEO.

The group will use its political arm, America's Energy, America's Choice, to "use the upcoming midterm elections as a means to frame and positively influence the long-term energy policy discussion," he said. Policymakers need to "better align our nation's political science with our geologic science, because right now the former all too often drives energy policy."

Touting figures from a new API-sponsored study that oil and gas production over the next 12 years would inject $94 billion a year to the economy and support nearly 1 million jobs, Gerard said it was important to implement "smart, pro-growth energy policies" to ensure America's energy independence.

Read more: http://www.cnbc.com/id/101315893.


 
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