Oil

Baker Hughes to disclose fracking chemicals

NEW YORK (AP) — The drilling services company Baker Hughes on Wednesday implemented a policy of disclosing all of the chemicals used in its fracking operations.

Environmental groups and local communities have for years been pushing for full disclosure of the chemicals used in hydraulic fracturing, a drilling technique also known as fracking.

In response, the oil and gas industry set up an online database -- at FracFocus.org -- that lists many of the chemicals, but held back crucial information on certain chemicals and the amounts used on the grounds that it would provide competitors with trade secrets.

Oil

Oil mixed on shrinking stockpiles, Saudi price drop

Source: 
Reuters

An unexpected report of lower crude stockpiles last week pushed oil up Wednesday, while an announcement from Saudi Arabia of a drop in its official price fuelled bearish sentiment. U.S. benchmark crude gained 43 cents to settle at $90.73 a barrel on the Nymex, while in London Brent crude finished down 51 cents to $94.16, Reuters reports.

Oil

Ex-Im Bank to back loan guarantees for sales to Mexico

Source: 
The Hill

The Export-Import Bank plans to back $1 billion in loan guarantees in order to sell drilling goods and services to Mexico’s national oil company Pemex, The Hill reports.

Oil

Enterprise Products positions for exports by acquiring marine terminal owner

Source: 
The Wall Street Journal

Pipeline operator Enterprise Products Partners says it’s acquiring Oiltanking Partners in a two-step, $5.8 billion dollar deal that will strengthen its midstream business, The Wall Street Journal reports, noting that the move will leave Enterprise well positioned if the U.S. shifts its ban on crude exports.

Oil

Enbridge expects State Dept. OK for Alberta Clipper next summer

Source: 
The Wall Street Journal

Enbridge Inc. anticipates it will receive approval from the State Department in mid-2015 to push capacity on its cross-border Alberta Clipper pipeline up to 800,000 barrels a day, a top executive told investors in Toronto Tuesday, The Wall Street Journal reports.

Oil

Colorado drillers cheer ruling limiting Broomfield fracking ban

Source: 
Denver Business Journal

A judge’s decision that Broomfield’s fracking ban doesn’t apply to Sovereign Operating Co. because of an earlier memorandum of understanding between the company and the community is a “victory for certainty and clarity,” the Colorado Oil & Gas Association said, according to the Denver Business Journal.

Oil

Oil steadies following major drop

Source: 
Bloomberg

Ahead of the weekly stockpile report issued Wednesday, oil was trading slightly higher the day after a big plunge. West Texas Intermediate crude for November delivery was up 43 cents to $91.59 in electronic trading on the Nymex, while in London Brent climbed 19 cents to $94.86, Bloomberg reports.

Oil

Buyback plan triggers fall in NOV shares

Source: 
FuelFix

Shares in oilfield equipment maker National Oilwell Varco have dropped some 2.6 percent since the company announced it would buy back $3 billion worth from investors, the repurchase a sign that the firm may be running out of acquisition targets, FuelFix reports.

Oil

New fund in Mexico to handle oil money

Source: 
The Wall Street Journal

A special fund launched in Mexico Tuesday will handle income from the country’s oil and gas sector -– which has been newly opened to private investment –- giving some of it to the federal government and directing some to long-term savings, The Wall Street Journal reports.

Oil

Enbridge delays ND oil pipeline at least a year

BISMARCK, N.D. (AP) — A Canadian company that wants to build the largest oil pipeline yet from western North Dakota's booming oil patch is delaying the project for at least a year due to permitting problems in Minnesota.

Calgary, Alberta-based Enbridge Energy Partners LP disclosed the delay of the $2.6 billion Sandpiper pipeline in a filing Tuesday with the U.S. Securities and Exchange Commission.

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