RBN Energy: crude oil barge volumes continue to increase
Barge shipments of crude oil between the Midwest Petroleum Administration Defense District (PADD) 2 and the Gulf Coast PADD 3 regions reached 126 Mb/d in July 2013 - up 79 percent over the same month last year according to the Energy Information Administration (EIA). The Port of Corpus Christi reported that coastal barge and tanker movements of crude from the Eagle Ford – mostly headed out of Corpus to Houston or St James, LA are up 37 percent so far this year (August) to 387 Mb/d. The crude tank barge trade is booming as producers continue to use waterborne transport to bypass pipeline congestion. Today we look at emerging waterborne crude routes to market.Chesapeake lays off another 800 folks.
Meanwhile, Statoil's fortunes have turned. Rigzone is reporting:
Statoil’s shift a decade ago towards focusing on high-risk, high-impact plays and early entrance with a large stake into new plays is clearly working, transforming Statoil from a relatively resource poor company to one with a solid resource base, Statoil CEO Helge Lund told reporters Monday at a media briefing in Houston.
Since revising its strategy, the company has added significant new acreage and resources to its portfolio, including acreage in Russia, Australia, the U.S. Gulf of Mexico and Brazil, and significant discoveries such as the Bay du Nord discovery offshore eastern Canada, Statoil’s third discovery in the Flemish Pass. Between 2011 and 2013, Statoil has added more than 3 billion barrels of oil equivalent to its portfolio.
As part of its strategy, the company has focused on three areas – the Norwegian Continental Shelf (NCS), North America onshore unconventional plays and four to six offshore oil and gas clusters outside Norway.Oilman never give up -- Chesapeake's former CEO ready to drill the Utica:
An energy firm run by Aubrey McClendon, the former Chesapeake Energy Corp chief executive, has raised $1.7 billion to drill on shale acreage in Ohio's Utica Shale, the firm said on Wednesday.
Proceeds will initially be used to acquire and drill on about 110,000 acres in the southern portion of the Utica Shale.
The Wall Street Journal
Shutdown standoff shows signs of a thaw. Medical-device tax repeal gains new life. Is this what this stand-off all about? How sad. How pathetic.
Yellen new Fed head.
US allies fret over Egypt-aid shift. Egypt surprised by planned US aid cut. MDW noted this yesterday. Confirms President Obama's Islamist leanings. This is not rocket science.