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African national oil companies (NOCs) partnering with independents to drive E&P

Oil & Gas 360ยบ

Libyas NOC is working with IOCs Repsol, bp, TotalEnergies, ConocoPhillips and more to increase output to two million barrels per day (bpd). Boosting production Major oil producers in Africa are striving to boost production and NOC-IOC collaboration is at the forefront.

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Fifth Circuit Vacates $6 Million Clean Water Act Penalty

The Energy Law

By Greg Johnson and Stephen Wiegand In a July 17, 2013 decision, the United States Court of Appeals for the Fifth Circuit vacated a $6 million dollar penalty levied under the Clean Water Act (โ€œCWAโ€) against CITGO Petroleum Corporation (โ€œCITGOโ€) and remanded the matter to the Western District of Louisiana for further consideration.

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New Texas Law Encourages Recycling of Wastewater From Oil and Gas Operations by Clarifying Ownership and Limiting Tort Liability

The Energy Law

By Jillian Marullo House Bill 2767, which took effect on September 1, 2013, was enacted to encourage recycling of the wastewater produced in hydraulic fracturing (or โ€œfrackingโ€) and other oil and gas operations. On average, over 83,000 barrels (or 3.5 billion barrels of wastewater were disposed of in Texas injection wells.

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BP Signs Agreement for Kirkuk Oil Fields Development

Iraq Business News: Oil & Gas

The initial phase includes oil and gas production exceeding three billion barrels of oil equivalent, while the wider resource opportunity across the contract area is believed to include up to 20 billion barrels of oil equivalent. It also builds upon BP's previous work on the Kirkuk fields from 2013 to 2019.

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New Judge, Same Result โ€“ $81 Million CWA Civil Penalty Appealed

The Energy Law

As a result, Judge Haik imposed a civil penalty of $1,500 per barrel spilled โ€“ for a total of $81 million โ€“ and significantly increased the penalty of $111 per barrel in his original judgment. The EPA sought a penalty of $4,300 per barrel. CITGO Petroleum Corp., 3d 547, 549 (5th Cir. million dollars.

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U.S. House of Representatives Passes Energy Bill

The Energy Law

per MMBtu, unless lease royalties were renegotiated with the Secretary , imposes Conservation of Resources Fee on nonproducing lease acreage of $3.75

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Louisiana Department of Revenue Targets Energy Companies in Rash of Oil Severance Tax Audits

The Energy Law

1] Taxes make up a large part of the industryโ€™s direct economic impact in Louisiana: In 2013, the industry paid nearly $1.5 Pursuant to the Oil Purchase Agreement, Operator X and First Purchaser Y agree to a price formula which begins with a market center price of $65, and then deducts $3 for a final price of $62 per barrel.

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