-Environmental regulators in China have lifted an eight-month ban on new projects at the country’s two largest refining companies. Via the Wall Street Journal, China’s Ministry of Environmental Protection declared last week that China National Petroleum Corp. and Sinopec had sufficiently addressed concerns related to air emissions and could proceed with new projects. The two firms represent more than 75% of China’s refining capacity.
-ONEOK earlier this week announced the completion of a $1 billion natural gas gathering and processing and NGLs project. The project includes a $46 million, 40,000-barrels-per-day ethane/propane splitter at ONEOK’s Mont Belvieu, Texas, NGL storage facility.
-A subsidiary of China’s CNOOC Ltd. will partner with British firm BG Group on the latter’s proposed Prince Rupert LNG terminal at Ridley Island near British Columbia. The $16 billion LNG export facility would process up to 2.9 billion cubic feet of gas per day. It is awaiting export approval from Canadian regulators.
-BP agreed to sell some of its assets on Alaska’s North Slope, including all of its interests in the Endicott and Northstar oilfields, to independent E&P firm Hilcorp. Hilcorp will also purchase a 50% interest in each of the Liberty and Milne Point fields and become the operator of Milne Point, Endicott and Northstar. BP’s Alaska strategy has become more keenly focused on production in the Prudhoe Bay field and the Alaska LNG project.
-Oklahoma-based E&P firm Gulfport Energy named Michael G. Moore as its CEO and J. Ross Kirtley as its COO. Moore, a 14-year veteran of Gulfport Energy, was appointed company president last August. Kirtley, who joined Gulfport in May 2013, has overseen the company’s Ohio business since September. Gulfport’s principal producing properties are located in the Utica Shale of Eastern Ohio and along the Louisiana Gulf Coast.
