PennEnergy's Daily Petroleum Update 1/12

Today's Headlines

US House poised to pass oil pipeline bill as court clears way Nebraska's highest court tossed out a lawsuit Friday challenging the approval of the pipeline's route through that state, a decision that could change some of the dynamics in the political tug-of-war … Continue Reading Share:

Statoil intends to extend life of Norne field to 2030 Initially scheduled to be shut down during 2014, Statoil’s ambition is now to extend the life of the Norne field to 2030 … Continue Reading Share:

Mexico's Pemex proposes to import US crude Mexico's state oil company wants to import about 100,000 barrels of light U.S. crude a day … Continue Reading Share: Texas city that prepared for oil boom now waits for bust Ambitions are fading fast as the plummeting price of oil causes investors to pull back, cutting off the projects that were supposed to pay for a bright new future in Sweetwater, Texas … Continue Reading Share: Drilling rig prices falling While exploration companies will benefit from lower rental costs, rig companies bear the burden … Continue Reading Share: BLM postpones oil and gas lease sale The Bureau of Land Management has postponed an oil and gas lease sale for a handful of parcels in northwestern New Mexico. … Continue Reading Share: Taipan spuds oil production well onshore Kenya Taipan estimates gross mean unrisked recoverable resources of 251 mmboe for the Badada well. … Continue Reading Share: A&P Falmouth applies to build oil separation plant in UK The application includes a proposal for an oil separation facility, which would be the first such plant in the U.K. … Continue Reading Share: