Colorado House Majority Leader Says Prop 112 Unlikely to Pass

Colorado House Majority Leader Says Prop 112 Unlikely to Pass

Washington — Colorado’s oil and natural gas industry will likely defeat an effective drilling ban on November’s ballot, a key state lawmaker predicted Friday, but she cautioned that the effort would return stronger in 2020 if state legislators do not find common ground on regulating abandoned wells and other issues. House Majority Leader KC Becker said on a Baird conference call that oil and gas interests are spending $30 million to defeat Proposition 112, compared with $1 million by supporters of the measure. The proposition on the November 6 ballot would increase oil and gas drilling setbacks to 2,500 feet,...

SUEZ opens one of the world’s largest R&D labs in Texas

SUEZ opens one of the world’s largest R&D labs in Texas

* New State-of-the-Art Laboratory to Provide Expanded Focus on Downstream Refining, Petrochemical, and Upstream Oil & Gas Processing Applications * Expansive Analytical Laboratory Provides Water, Oil, Deposits, Microbiological, Metallurgical, and Process Fluids analysis for SUEZ’s entire North American client base   SUEZ has opened one of the world’s largest, most advanced analytical laboratories to serve its growing client base, including the booming refining and petrochemical market, as well as oil and gas operations along the Gulf Coast and beyond. The facility, which will support SUEZ’s global research efforts, is located in Tomball, Texas. Heiner Markhoff, CEO of SUEZ’s Water Technologies...

World Oil Award 2018 Winners Honored at Houston Gala

World Oil Award 2018 Winners Honored at Houston Gala

August 30, 2018, HOUSTON—Nearly 150 of the downstream processing industry’s brightest minds gathered Thursday to find out, and celebrate, the winners of the 2018 HP Awards. The awards ceremony seeks to recognize and honor the midstream and downstream processing industries top innovations and innovators. Honorees took home awards in 12 categories—10 encompassing the latest technological advances in the hydrocarbon processing industry and two people awards—from the gala event in Houston, Texas. These innovations are enabling refinery, petrochemical and gas processing/LNG operators to optimize their operations. This year, more than 80 nominations were submitted from 18 countries around the world. The...

Saudi prince sees deal with Kuwait to restart oil fields

Saudi prince sees deal with Kuwait to restart oil fields

Saudi Arabia’s crown prince said he’s getting close to striking a deal with Kuwait about two jointly owned fields that can produce half a million barrels a day of crude. We believe that we are almost close to having something with Kuwait,” Crown Prince Mohammed Bin Salman, who met with Kuwait’s Emir Sheikh Sabah Al-Ahmed Al-Sabah on Sunday, said in an interview at a royal palace in Riyadh. We believe we can have something soon. The fields of Khafji and Wafra are located in Neutral Zone, a portion of the two countries’ border that has been undefined for almost a...

Crude Oil Futures Down for the Week

Crude Oil Futures Down for the Week

The November WTI – West Texas Intermediate crude oil futures contract price gained a penny Friday, settling at $74.34. The WTI intraday range fluctuated from $73.83 to $75.22. Friday’s settlement price represents a 1.3-percent drop since Monday’s close. The front-month Brent contract lost 42 cents Friday to settle at $84.16 a barrel – a nearly 1-percent drop from Monday’s settlement price. “This week, both WTI and Brent traded at levels not seen in about four years on supply concerns only to fall off later on a U.S. crude inventory report that showed a much higher-than-expected gain,” said Tom Seng, Assistant...