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International news for oil and gas professionals

The US Pipeline & Hazardous Materials Safety Administration completed one of its top priority rulemakings for 2016 as Administrator Marie Therese Dominguez signed long-awaited safety requirements for onshore hazardous materials pipelines. The final rule makes critical safety improvements, PHMSA said. An American Petroleum Institute official said it still falls short of what is needed.

Crude oil benchmarks traded moderately lower on Jan. 13, ending a 2-day rally driven by some major producers cutting production, especially Saudi Arabia. Light, sweet crude prices settled above $52/bbl on the New York market while Brent crude settled above $53 on the London market.

Foiled efforts so far to rename the Texas Railroad Commission remind this OGJ editor of a state antilitter campaign: "Don't mess with Texas." TRC may have the most colorful history of any state agency.

As expectations grow that oil exporters actually might cut production to support the price of crude, a new complication emerges. It attaches to a proposal gaining political momentum in the US: tax reform.

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RT @energizeWV: Check out @InsideShale Tuesday at 8am to learn about EPA’s effort to overturn the Waters of the US Rule; the scope and scal…