-New East Coast terminals that pump crude oil from trains to barges could soon eliminate the region’s need for foreign imports. Reuters reports that imports of light, low-sulfur crude from countries such as Norway and Nigeria have fallen dramatically in recent years. Many East Coast refineries have terminals on-site that can take in Bakken crude from rail cars, but the new terminals will provide even more flexibility.
-The spread between Brent crude and West Texas Intermediate narrowed to its tightest level since October. Brent fell to its lowest level in two weeks on Thursday amid tension in the Ukraine.
-House Republicans released a discussion draft Thursday that would enact long-awaited reforms to the Toxic Substances Control Act (TSCA) of 1976. Via the Hill, the new law would require the EPA to focus on chemicals that pose the greatest risk to the public. The American Chemistry Council applauded the bill, saying its reforms would encourage investments and job growth by U.S. manufacturers.
-Devon Energy completed its $6 billion purchase of Eagle Ford assets from GeoSouthern Energy. The 82,000 acres Devon now owns are located in Texas’ DeWitt and Lavaca counties. Devon plans to invest $1.1 billion in the Eagle Ford this year and will drill 200 wells there.
-Western Gas Partners made its first foray into the long-haul NGLs transportation business on Thursday. The company announced it would buy $375 million in pipeline and gathering assets from Anadarko.
