-Freeport LNG held a groundbreaking ceremony today as it awaited final government approval to begin construction. Via FuelFix, Freeport LNG CEO Michael Smith said he expects final rulings from the Federal Energy Regulatory Commission and the Department of Energy to come in time to begin construction before Thanksgiving.
-California has decreased sharply its imports of crude oil delivered by rail. Via Bloomberg, the state in September received its lowest amount of oil by rail in 17 months. Imports of Canadian heavy crude, which made up 76% of California’s oil-by-rail shipments this time last year, fell to zero. The price of oil from California’s San Joaquin Valley fell relative to Canadian heavy crude after ExxonMobil shut down a crude unit at its Torrance, Calif., refinery in September.
-ConocoPhillips announced a second oil discovery off the coast of Senegal. The discovery in ConocoPhillips’ SNE-1 well follows an oil find announced last month in its FAN-1 well. Both wells are located approximately 60 miles offshore Senegal in the Sangomar Deep block.
-Meanwhile, Transocean is likely to retire additional rigs amid an oversupply in the market. Via Reuters, the recent oil price plunge has led to a decline in day rates for offshore rigs as producers eschew costly projects. The oversupply in the offshore industry could persist for as long as two years as equipment ordered during the recent oil boom is put into service.
-Houston-based cellulosic biofuel maker KiOR Inc. filed for bankruptcy on Sunday. The company’s Mississippi-based subsidiary KiOR Columbus is not part of the bankruptcy. Via the Jackson Clarion-Ledger, the state of Mississippi is trying to find a buyer for the $230 million ethanol plant KiOR built in Columbus in 2012. The plant was idled in January due to production issues.
