-Oil and gas spending could reach $165 billion per year in the United States, according to a report by Barclays. Via FuelFix, exploration and production spending in 2014 is expected to increase 9.6% over last year. The Permian Basin is a major driver — increased investments there have resulted in the nation’s highest rig count in two years.
-U.S. chlor-alkali facilities hit a one-year high in operating rates last month, the Chlorine Institute said today. Via Platts, chlor-alkali facilities operated at 86% capacity in May — a five-percentage-point jump from the capacity rate seen in both March and April.
-Shell and International-Matex Tank Terminals have vowed to install new odor control equipment at their jointly operated St. Rose, La., asphalt plant after residents in the area complained of a lingering stench. Via the New Orleans Times-Picayune, state officials determined that the odor came from the refining of crude oil that had a higher level of sulfur than what the plant typically handles. In addition, the plant’s existing odor control equipment failed, state officials said.
-Enbridge Energy Partners said it would sell a 12.6% interest in its natural gas midstream business to Midcoast Energy Partners for $350 million. Via Reuters, the deal is expected to close by next month.
-State and local officials in California on Thursday called on lawmakers to pass legislation that would strengthen safety standards for trains carrying crude oil. Refineries in California have seen increased shipments of oil by rail from Canada and North Dakota in recent years. State firefighting officials stressed the need for more training for first responders in the event of explosions and fires caused by crude oil train derailments.
