-Shell became the latest company to gain permission from the Department of Commerce’s Bureau of Industry and Security (BIS) to export lightly processed condensate, Reuters reports. BIS issued guidance Dec. 30 that clarified what level of processing qualifies condensate as a refined product that can be sold internationally.
-A Canadian Pacific train carrying propane derailed in northern Ontario Tuesday morning. Via the Canadian Press, a spokesman for the railway said there was a “minor leak” from one of the cars, but no injuries have been reported. Canadian officials are preparing to investigate the incident.
-Manufacturers of sealing devices and leak detectors stand to gain from the Obama Administration’s newly released plan to cut methane emissions by at least 40% by 2025. Via FuelFix, 76 companies with 500 locations in 46 states are in position to capitalize. The Fluid Sealing Association greeted the White House’s plan warmly, saying it is “committed to doing its part to address climate change.”
-MarketWatch examines the impact of proppant costs on U.S. shale play profitability amid the oil price plunge. According to research by NavPort, the cost of proppant can make up 15-35% of the cost to complete a well. Hence, the companies with the lowest proppant costs will be in the best position to turn a profit in the current environment. NavPort says Hess Corp., BHP Billiton and Whiting Petroleum have the best proppant efficiency out of the top 25 unconventional producers.
-We Energy agreed to sell its power plant and utility business in Michigan’s Upper Peninsula to Upper Peninsula Power Co. The sale includes a coal-fired power plant on Lake Superior in Marquette, Mich., and utility operations that include 28,000 customers. Via the Milwaukee Journal Sentinel, a power crisis in the Upper Peninsula has become a hindrance in We Energy’s pursuit to buy Integrys Energy Group.
