-Phillips 66 does not expect last week’s oil spill from a pump station near St. Louis to affect operations at its Wood River, Ill., refinery, Reuters reports. The pump station, owned by Plains All American Pipeline, is part of a 277,000-barrel-per-day pipeline that delivers crude to the Wood River refinery. Plains said a pipeline fitting inside the station was the source of the 4,200-gallon leak.
-Canada’s premiers are set to unveil a new energy agreement designed to fast-track pipeline projects. Via the Globe and Mail, the Canadian Energy Strategy commits the provinces to cutting duplication and inefficiencies and improving timelines for getting pipeline projects approved. Many pipeline projects in Canada have been either held up by regulators or stalled in the face of environmental opposition. The lack of adequate pipeline infrastructure has inhibited the growth of Alberta’s oil sands sector.
-U.S. electric power producers have cut carbon emissions from power plants by 12% in five years, according to a new report backed by both power companies and environmental non-profits. Via FuelFix, emissions have fallen since 2008 due to technological improvements, renewable energy and the shift from coal-fired power to natural gas. The 100 companies studied in the report represent 87% of the industry’s air emissions. The EPA recently proposed new rules designed to reduce carbon emissions from new and existing power plants.
-Oil production from the major U.S. shale plays is expected to fall by 91,000 barrels per day in August to 5.36 million, according to the Energy Information Administration. Via Bloomberg, it is the fourth month in a row production is expected to decline and it marks the largest drop in output since the shale boom began. An analyst at Bloomberg Intelligence says the U.S. rig count, which has fallen 60% since October, will not recover until oil prices rise above $60 per barrel.
-Also from Bloomberg, China regained its status from the U.S. as the world’s top crude importer in June as it bought foreign oil to refill its strategic reserves.
