DOI cancels Arctic offshore lease sales

The US Department of the Interior said on Oct. 16 that it will cancel the two potential Arctic offshore lease sales scheduled under the current 5-year offshore oil and gas leasing program for 2012-2017. The agency cited “current market conditions and low industry interest” as reasons for the move. Source: News


Solutions elusive for renewable fuels subsidy, forum speakers say

A combination of dramatically changed market conditions and competing subsidies and penalties has created problems with the federal renewable fuels subsidy, some speakers at a Brookings Institution discussion of the program suggested. But others were equally adamant that the program is working 10 years after it was established under the 2005 Energy Policy Act. […]


Celanese JV commissions Texas methanol plant

Fairway Methanol LLC, a 50-50 joint venture of Celanese Corp., Dallas, and Mitsui & Co. Ltd., Tokyo, has commissioned a grassroots methanol plant at Celanese’s integrated chemical production complex in Clear Lake, Tex. Source: News


Oil company chiefs back climate-change pact

The chief executives of 10 large oil and gas companies have agreed to collaborate on cutting emissions of greenhouse gases, calling for an international agreement on climate change at the “COP21” summit next December in Paris. Source: News


Par Petroleum to change name, appoint new CEO

Par Petroleum Corp., Houston, will change its name to Par Pacific Holdings Inc., effective Oct. 20, “to more accurately reflect its growth strategy of building and acquiring market-leading businesses.”  Source: News


MEO drops Heron field permit

After many years of trying to prove up a commercial project, MEO Australia Ltd. has finally bitten the bullet and relinquished its interest in the Heron gas discovery in permit NT/P68 in the Timor Sea. Source: News