-Ethanol blending credits cost refiners at least $1.35 billion in 2013, according to a new study by Reuters. Valero alone spent approximately $517 million on Renewable Identification Numbers last year, and it says it could spend as much as $350 million this year. Valero spokesman Bill Day said his company was forced to pass much of its ethanol blending credit costs on to consumers.
-Chevron entered an agreement with a Polish gas firm to search for shale gas in southwestern Poland. Via the Associated Press, Chevron will team up with PGNiG to assess gas deposits in their respective territories and exchange information. Poland is seeking to reduce its reliance on Russian gas as tensions flare between Moscow and other Western nations.
-The Pipeline and Hazardous Materials Safety Administration on Monday approved Exxon Mobil’s request to restart a Texas stretch of its Pegasus pipeline. The pipeline suffered a burst near Little Rock, Ark., last March, causing crude oil to spill into the Arkansas town of Mayflower.
-Apache Corp. agreed to sell its oil and gas assets in the Deep Basin area of western Alberta and British Columbia for US$374 million. The transaction is effective Jan. 1, 2014, and is expected to close on or around April 30.
-BP appointed David Campbell president of BP Russia, effective immediately. A 30-year BP veteran, Campbell most recently served as senior manager of TNK-BP. He replaces Richard Scott Sloan, whose new role with BP has yet to be announced.
