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Argentina and Venezuela to cooperate in $2.2B 100,000 bpd extra-heavy oil joint venture in Orinoco Belt

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Argentina and Venezuela will form a joint venture targeting production of 100,000 barrels of extra-heavy oil per day in the Junin field area of the Orinoco Oil Belt. The US Geological Survey (USGS) characterizes extra-heavy oil as having an API gravity of less than 10°. billion project will also include a refinery. Source: EIA.

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Encana challenges EPA draft Pavillion groundwater report

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Encana Oil & Gas (USA) Inc., Encana said that the EPA data from existing domestic water wells aligned with all previous testing done by Encana in the area and showed no impacts from oil and gas development. Therefore, over the geologic ages, deeper natural gas has moved upward to shallower depths, according to the company.

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BP announces significant resource extension of Mad Dog Field in deepwater Gulf Of Mexico; total hydrocarbons estimated at up to 4B barrels of oil equivalent

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Pending confirmation through future appraisal drilling, the total hydrocarbons initially in place in the Mad Dog field complex are now estimated to be up to four billion barrels of oil equivalent. interest, Chevron Corporation, through its subsidiary Union Oil Company of California, has a 15.6% BHP Billiton has a 23.9%

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Ford puts the pedal down on performance … but not with electric drive technology right now

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Ford has been selling hybrids and, later plug-ins, since 2004. After introducing and then removing several models, the company since 2013 has currently settled on the Fusion hybrid and plug-in hybrid (Energi); the C-MAX hybrid and plug-in hybrid; the Lincoln MKZ; and the Focus Electric. —Raj Nair.

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US State Department issues Presidential Permit to TransCanada for Keystone XL

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The permit authorizes TransCanada to construct, to connect, to operate, and to maintain pipeline facilities at the US-Canadian border in Phillips County, Montana for the importation of crude oil. Kerry noted at that time that the arguments pro and con had been “overstated”. Earlier post.)