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The Interagency Task Force on Natural Gas Storage Safety, which the federal government established in the wake of a massive gas leak at the Aliso Canyon storage site near Los Angeles in late 2015, issued a report intended to help reduce the risk of future similar incidents.

US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, dropped 5.2 million bbl during the week ended Oct. 14 from the previous week’s total, according to the US Energy Information Administration’s Weekly Petroleum Status Report.

BP Trinidad & Tobago’s Regional Pres. Norman Christie confirmed that Trinidad and Tobago has lost billions of dollars in potential revenues because of the contractual arrangements between the Caribbean twin-island nation and partners in the Atlantic LNG (ALNG) venture surrounding LNG exports.

Casillas Petroleum Resource Partners LLC, a partnership formed earlier this year by Tulsa producer Casillas Petroleum Corp. and Los Angeles private equity firm Kayne Anderson Capital Advisors LP, has made its second deal for acreage in the South Central Oklahoma Oil Province (SCOOP) play.

Light, sweet crude oil prices jumped by more than $1/bbl to settle above $51/bbl for both November and December on the New York market Oct. 19, marking the highest level for the front-month settlement since July 14, 2015.


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