Category Archives: Industry News

US leads globally with most oil storage capacity, says GlobalData

Analysis of the global liquids storage market shows that the US has the highest liquids storage capacity globally with 2,162 million barrels (mmbbl). Indonesia and China follow with 2,014 mmbbl and 660 mmbbl respectively, according to GlobalData, a leading data and analytics company. Presently, the US accounts for 26 percent of…

XTO Energy relocates 20 employees to Williston office

XTO Energy Inc., a subsidiary of ExxonMobil, has added 20 jobs to its Williston Field Office. These moves came with the closure of their metro Denver office on Sept. 1, 2017. The closure was part of a larger effort to move employees closer to the field. Williston’s newest residents are…

ONEOK announces plans to increase natural gas liquids takeaway capacity out of the Rocky Mountain region

ONEOK, Inc. (NYSE: OKE) announced last week plans to invest approximately $1.4 billion to construct a new pipeline, and related infrastructure, to transport natural gas liquids (NGLs) from the Rocky Mountain region to the company’s existing mid-continent NGL facilities. The Elk Creek Pipeline – an approximately 900-mile, 20-inch diameter pipeline…

The hydrogen sulfide house of cards

By James O’Dwyer In the definition of management of change (MOC), three fairly significant groups of standard changes have debuted for 2017, here’s a snapshot. The American National Standards Institute (ANSI) has updated their 2010 revision of the Z390.1, “Accepted Practices for Hydrogen Sulfide (H2S) Training Programs” for 2017. The…

Department of Energy to Invest $30 Million to Boost Unconventional Oil and Natural Gas Recovery

The U.S. Department of Energy (DOE) has announced the selection of six projects to receive approximately $30 million in federal funding for cost-shared research and development in unconventional oil and natural gas recovery. The projects, selected under the Office of Fossil Energy’s (FE’s) Advanced Technology Solutions for Unconventional Oil and Gas Development funding opportunity,…

Moody’s: Global oil industry to focus on disciplined investment, M&A for growth in 2018

Oil prices will remain at $40-$60 per barrel in 2018 despite the extension of OPEC-led production cuts through the end of the year, Moody’s Investors Service says in its 2018 credit trends report for the global oil and gas industry. Higher prices within or above that range will see supply…