West Virginia listed in top 10 for oil and gas investment climate

The Fraser Institute's new survey of petroleum industry executives and managers lists West Virginia as one of the 10 most attractive jurisdictions for oil and natural gas investment worldwide. The survey by the Canadian think tank looked at barriers such as high tax rates, regulatory obligations and uncertainty over environmental regulations to investments in oil and gas exploration and production facilities. Joining West Virginia in the global top 10 were Oklahoma, North Dakota, Newfoundland, Labrador, Kansas, Saskatchewan, Norway, Wyoming and South Australia.
 

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Energy companies commit to reducing methane emissions

Eight companies -- BP, Eni, ExxonMobil, Repsol, Shell, Statoil, Total and Wintershall -- have committed to reduce methane emissions from the natural gas assets they operate around the world, including in the Utica and Marcellus shale plays, PennEnergy reports. The news site says the commitment was made as part of wider efforts by the global energy industry “to ensure that natural gas continues to play a critical role in helping meet future energy demand while addressing climate change.” For more, read the full story.

Global, Ohio, Pennsylvania, West Virginia

Canadian company commissions facilities to boost access to Appalachian natural gas

Union Gas has commissioned its $622.5 million natural gas pipeline expansion and compression facilities in southwestern Ontario, Canada to increase access to gas from the Appalachian basin, reports Daily Commercial News. The news site says the facilities include additional compressors and related station facilities at the Dawn, Lobo and Bright compressor stations. They will move natural gas through the Dawn-Parkway System, which links markets in eastern Canada and the northeast United States with the Dawn Hub. For more, read the full story.
 

Global, Ohio, Pennsylvania, West Virginia

Chinese natural gas projects expected to focus on Ohio River basin

Much of the development from an $83.7 billion deal with a Chinese company to invest in West Virginia's natural gas and chemical industries is expected to take place along the Ohio River basin, reports the Wheeling Intelligencer/News-Register. The newspaper says that while state officials did not release specifics about sites under consideration, West Virginia Commerce Secretary Woody Thrasher has said a natural gas-fired power plant in Brooke County could be among the first projects funded. "The bulk of that [investment] activity will be in the Ohio River basin," Thrasher said, adding that is where the resources and sites for development are. For more, read the full story.

Global, West Virginia

Official says Weirton area should be considered for ethane 'cracker' plant

Upon learning of China Energy's plans to invest $83.7 billion to develop West Virginia's shale gas and chemical industries, Business Development Corp. of the Northern Panhandle Director Patrick Ford said the Chinese firm should look at the Weirton, West Virginia area as a site for an ethane "cracker" plant, reports the Times Leader in Martins Ferry, Ohio. Ford said Weirton was in the running for the Royal Dutch Shell and PTT Global Chemical cracker projects, but did not have enough contiguous acreage to offer the companies at the time. "Now, we are ready," he said, pointing to potential sites that include the former Weirton Steel Corp. property along the Ohio River. For more, read the full story.

Global, West Virginia

Chinese company to invest $83.7 billion in West Virginia shale, chemical industries

West Virginia officials say they have an agreement that calls for China Energy Investment Corp. to invest $83.7 billion in shale gas development and chemical manufacturing in the state over 20 years, according to the Associated Press. The news service says West Virginia Commerce Secretary Woody Thrasher and China Energy President Ling Wen signed the memorandum in Beijing as part of a U.S.-China trade mission during President Donald Trump's recent visit there. West Virginia officials say project planning will focus on power generation, chemical manufacturing and underground storage of natural gas liquids and derivatives. For more, read the full story.

Global, West Virginia

Argentina eyes natural gas pipeline to ease reliance on energy imports

Natural gas transportation company TGS has proposed an $800 million pipeline and gas treatment plant in Argentina’s Vaca Muerta shale fields as it aims “to address a key barrier to increasing production” in that South American country, according to Reuters. The news service says the project could be built in a year and a half and would transport shale gas produced by companies such as state-run YPF SA, Dow Argentina and Exxon Mobil Corp. Reuters says Argentina’s President Mauricio Macri has made attracting investments to ramp up natural gas production a priority of his government, which is trying to end reliance on energy imports. For more, read the full story.

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PTT delays plan to develop Canadian oil sands project

Thailand’s PTT, which is considering construction of an ethane “cracker” facility in eastern Ohio, has delayed plans to develop its Mariana oil sands project in Canada due to weak oil prices, Reuters reports. The news service says PTT’s decision “marks the latest blow to the oil sands industry in Canada, where dozens of projects have been shelved due to high start-up costs and low oil prices.” Reuters also says the delay fits with PTT’s strategy of focusing on liquefied natural gas capacity and natural gas assets. For more, read the full story.

Global, Ohio

Ineos makes move to create shale boom in Great Britain

Bloomberg reports that Great Britain’s Ineos AG “has taken another step toward creating a shale boom on its side of the Atlantic” with the promotion of Ron Coyle to chief executive officer of its shale division. The news service says Coyle will oversee a subsidiary that includes three of the engineers who helped start the U.S. hydraulic fracturing boom in Texas. Ineos, the largest holder of United Kingdom shale gas exploration licenses with more than 1 million acres, foresees drilling dozens of oil and natural gas wells within the next year. For more, read the full story.

Global, National

BP to take delivery of six tankers to support LNG business

BP PLC will take delivery of six new liquefied natural gas (LNG) tankers in 2018 and 2019 to support its expanding global LNG portfolio, according to Oil & Gas Journal. The news site says BP finance partners KMarin and ICBC Leasing are investing more than $1 billion in the tankers. The vessels will help service BP's 20-year liquefaction contract with the Freeport LNG facility in Texas as well as other international LNG projects. For more, read the full story.

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