-A new study shows the removal of the U.S. ban on crude oil exports could add up to 300,000 jobs to the American economy in 2020. Refining margins, however, would be squeezed by the likely impacts of allowed exports. The report’s authors said a combination of higher refinery feedstock costs and lower petroleum product values could decrease projected average refinery margins by as much as $2.85 per barrel through 2035.
-Duke Energy and Piedmont Natural Gas are planning to build a 900,000-million-cubic-feet-per-day natural gas pipeline in North Carolina. Via Platts, the companies will later this week solicit proposals to build and operate the pipeline, which would begin operating in 2018.
-Encana Corp. on Monday announced it would sell $1.8 billion in natural gas assets in the Jonah field in Sublette County, Wyo. The area being sold encompasses 24,000 acres and more than 1,500 active wells. The buyer is an affiliate of TPG Capital.
-Tulsa, Okla.-based oil and gas producer New Gulf Resources appointed Ralph Hill president and CEO. Via the Tulsa World, the announcement comes just weeks after Hill was forced out at WPX Energy, an E&P firm he helped found. Current New Gulf Resources CEO Tracy Poole will serve as president of the firm.
-PPG Industries announced several executive changes amid the sale of its 51% interest in Transitions Optical Inc. Former Transitions Optical President Dave Cole has been appointed vice president of packaging coatings for PPG. PPG Vice President of Silica Products Anup Jain has been named vice president of specialty coatings and materials. Rick Elias, PPG’s senior vice president of optical and specialty materials, has retired from the company.
