Boost

South Korea’s state-run Korea Gas Corp. (KOGAS), the world’s largest liquefied natural gas (LNG) buyer, is joining the Cordova Embayment natural gas project in British Columbia.

Amid rising gasoline prices and a boost from President Obama, natural gas use in vehicles is drawing increased support, according to Ford Motor Co., which reported Wednesday that demand has risen for compressed natural gas (CNG) vehicles.

New Mexico House Speaker Ben Lujan has introduced legislation to boost the use of natural gas as a transportation fuel. HB 198 would give consumers an alternative to soaring gasoline prices and providing some incentives to convert their vehicles to run on compressed or liquefied natural gas. Currently, there are nine natural gas transportation fueling stations in the state, and most of the natural gas vehicles (NGV) are owned by municipalities. Under the proposed law vehicle owners would be credited with 70% of the conversion costs to switch to an NGV after receiving a 40% federal tax credit between now and Jan.1, 2017. A similar bill passed the state’s House last year but died in the Senate Finance Committee. Lujan said the typical NGV costs about $1.76/gallon, compared with more than $3/gallon for gasoline-fueled vehicles.

Northeast citygates and a few other locations, mostly in the West, were able to get a price boost from the severe cold expected to be occupying most of Canada and the U.S. by the start of this week. The rest of the market appeared to pay little attention as losses of less than a dime dominated.

Greater access to public lands for producers would create an additional 530,000 jobs, deliver $150 billion more in taxes to the federal government and boost domestic production by 4 million bbl of oil equivalent per day (boe/d) by 2025, according to a new study commissioned by the American Petroleum Institute (API).

Greater access to public lands for producers would create an additional 530,000 jobs, deliver $150 billion more in taxes to the federal government and boost domestic production by four million bbl of oil equivalent per day (boe/d) by 2025, according to a new study commissioned by the American Petroleum Institute (API).

Occidental Petroleum Corp. on Friday made two deals valued at $3.2 billion that give it entry into the Eagle Ford Shale and boost its land holdings in the Bakken Shale.

Occidental Petroleum Corp. on Friday made two deals valued at $3.2 billion that give it entry into the Eagle Ford Shale and boost its land holdings in the Bakken Shale.

Nearly half of the flared or vented natural gas estimated to be produced on federal lands could be economically captured, which in turn would boost royalties and reduce greenhouse gas (GHG) emissions, the Government Accountability Office (GAO) said in a report last week.