Light

As global demand for oil slows, surging U.S. shale and light tight oil (LTO) production is causing Saudi Arabian and West African crude oil exports to be diverted elsewhere, while U.S. gasoline exports to the world market are expected to rise, according to the International Energy Agency (IEA).

Valero Energy Corp. is upgrading two of its refineries in Texas so they can process more light sweet crude from the prolific Eagle Ford Shale, a company spokesman told NGI’s Shale Daily.

A study of Barnett Shale region water wells has found elevated levels of heavy metals near natural gas extraction sites, but a link to drilling/production activity has not been determined and may not be, researchers from the University of Texas at Arlington (UTA) said.

North American exploration and production (E&P) companies will, over the next few weeks, unveil their earnings and operations results for the second quarter, but analysts aren’t expecting any big upside surprises. Instead, they hope for details on Marcellus Shale pricing, emerging sweet spots in the Utica Shale and details about wells in several big onshore basins.

Florida Power & Light Co. (FPL) said Monday it will demolish its 1,205 MW oil-fired Port Everglades Power Plant in Port Everglades, FL, on July 16 to make room for a new facility to be fueled by U.S. natural gas. The company called the move one more step toward its goal of energy independence.

The Kentucky Oil and Gas Association’s (KOGA) first comprehensive research of the economic impact of the oil and gas industry found that the state had 14,632 producing natural gas wells in 2011 and produced more than 3 million bbl of oil in 2012, but the number of horizontal well permits issued has declined each year since 2009.

Houston-based NET Mexico Pipeline Partners LLC has asked FERC for the green light to build border-crossing facilities to export natural gas from the United States to Mexico.

Northern Natural Gas Co. on behalf of itself, as well as Southern Natural Gas and Florida Gas Transmission, has asked FERC for the green light to abandon in place offshore facilities and onshore facilities in Texas, known as the Matagorda Offshore Pipeline System (MOPS), which are seldom used by shippers anymore.

Houston-based NET Mexico Pipeline Partners LLC has asked FERC for the green light to build border-crossing facilities to export natural gas from the United States to Mexico. The company requested that the Federal Energy Regulatory Commission issue a presidential permit for the connection by October.