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A UK industry group is welcoming changes to UK fiscal policy that will allow buyers of offshore oil and gas fields to benefit from the past tax payments of sellers.

Doreen Cole will become managing director of Syncrude Canada Ltd. on Dec. 11, succeeding Mark Ward, who is retiring as president and chief executive officer. The title of Syncrude’s top operational position has changed. 

Credible quantitative evidence exists, applicable under the statutory standards of the Natural Gas Act (NGA) and the National Environmental Policy Act (NEPA), to conclude that the benefits of natural gas transportation and liquefaction projects outweigh their costs.

The light, sweet crude oil contract for January delivery fell nearly 90¢ but held above $57/bbl on the New York market Dec. 4 while Brent crude oil for February fell more than $1, setting below $63/bbl—its biggest single-day decline since early October.

Lebanon will require that the workforce of its prospective oil and gas industry be 80% Lebanese. Energy Minister Cesar Abi Khalil said in a news conference in Beirut that the requirement is part of legislation to be submitted soon to the Cabinet, according to Lebanese press reports. 

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