-The EPA on Thursday entered an agreement with BP that will immediately allow the company to resume business with the federal government. BP will be required to retain an independent auditor who will review and report on the company’s ethics compliance, corporate governance and process safety. The ban was enacted following BP’s criminal conviction in the Deepwater Horizon case.
-A proposal by Sen. John Barasso (R-Wyo.) to ease restrictions on LNG exports to NATO countries was tabled in the Senate on Wednesday. Via FuelFix, Barasso said by not voting, the Senate was “rewarding Russia with more power.” Proponents of accelerated LNG exports have used the Ukraine crisis to bolster their case in recent weeks.
-New York’s Albany County issued a moratorium on crude oil processing at the local port, potentially interrupting a large chunk of supply for Phillips 66’s Linden, N.J., refinery. The county is performing a health investigation targeting an expansion at an oil-processing facility owned by Global Partners LP. The Port of Albany has recently become an important hub for Bakken crude oil transported by rail.
-The Brent-WTI spread nearly doubled just one week after it reached its narrowest point in five months. Via Platts, WTI fell considerably this week on higher crude inventories and the government’s announced plan to sell five million barrels of oil from the Strategic Petroleum Reserve.
-ChevronPhillips Chemical Co. appointed Don Lycette senior vice president for research and technology. Lycette replaces Dennis Holtermann, a 33-year company veteran who is retiring. Lycette, who previously served as vice president for environmental, health, safety and security for ChevronPhillips, will move into his new role May 1.
Photo: BP p.l.c.
