-Enterprise Products Partners began exporting refined products from its reactivated marine terminal on the Neches River in Beaumont, Texas. Enterprise built new pipelines and installed loading arms and vapor recovery systems, among other improvements, to support increased refined product exports. The company said it would build a second dock and more on-site storage for blending components in the future.
-The Energy Information Administration (EIA) cut by 96% a previous estimate of oil reserves recoverable from California’s Monterey Shale. An engineering firm in 2011 estimated that some 13.7 billion barrels of oil could be released from the shale, which stretches across central California. The EIA, however, reduced that number to 600 million barrels based on the Monterey Shale’s unique geology, which has been weathered by seismic activity and thus cannot be fracked as easily as other shale plays in the U.S.
-China-owned Sinopec has teamed up with Weatherford International in an attempt to tap the vast shale resources thought to be recoverable in its home country. Via Reuters, the two companies entered a joint venture that will provide technical services for drilling and well completion and manufacture tools. China faces challenges in tapping its own shale resources due to geological complexity, high population density and water scarcity.
-The American Chemistry Council today testified during a House Subcommittee on Energy and Power hearing on the Promoting New Manufacturing Act. The draft legislation would improve the processing of pre-construction permits under the New Source Review. ACC Director of Regulatory and Technical Affairs Lorraine Gershman told the panel state permitting agencies and manufacturers have been left confused by the EPA’s lack of direction while tightening National Ambient Air Quality Standards.
-Calpine today announced a number of personnel moves as new CEO Thad Hill officially assumed his position. Calpine has eliminated Hill’s former COO role and named Executive Vice President Steve Pruett chief commercial officer, in addition to Pruett’s current role. Senior Vice President Hether Benjamin Brown was named chief administrative officer. Calpine in November announced Hill would succeed former CEO Jack Fusco, who has moved into the position of executive board chairman.
