Last updateWed, 14 Nov 2018 4pm


Construction Spending Rises Unexpectedly

Construction spending rose for the second time in three months in June as residential building increased and government-funded infrastructure projects jumped.


The report provides fresh evidence the housing sector may be recovering, while the rise in government spending was partly due to the Obama administration's $787 billion stimulus package, economists said.


Source: Associated Press


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House GOP Leaders Urge Salazar to End Six-Month OCS Delay Now

Ninety-eight US House Republicans urged Interior Secretary Ken Salazar to end a six-month delay early and move ahead with a 2010-15 federal offshore oil and gas leasing plan he halted on Feb. 10.


“By offering new leasing opportunities in the Atlantic and Pacific Oceans, as well as in Alaska and the Gulf of Mexico, the proposed plan is appropriately expansive, provides maximum flexibility to properly utilize all of our nation's domestic resources, and helps coastal communities pursue leasing and responsible development in the deep waters off their coastlines,” the House GOP members said in a July 31 letter to Salazar.


Source: Penn Energy


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Essar Completes Purchase of 50% of Kenya Refineries

Essar Energy Overseas Ltd. signed a share sale and purchase agreement to acquire 50 percent of Kenya Petroleum Refineries Ltd. from Chevron Corp., BP Plc and Royal Dutch Shell Plc, said Kenyan Prime Minister Raila Odinga.


Kenya’s government will retain a 50 percent stake in the refining company, Odinga told reporters today in the capital, Nairobi.


Source: Bloomberg


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1,000-Mile Enbridge Inc. Pipeline Wil Cross Northern North Dakota, Minnesota

A 1,000-mile crude oil pipeline project costing $3.4 billion begins in mid-August, say Enbridge Inc. officials.


“We’ve got pipe coming in and yards are filling up, equipment is rolling in,” Lorraine Grymala, Enbridge manager of community affairs/major projects, said last week. “We’re just waiting on a few remaining permits and then we’ll set a firm kick-off date, but August … we should be ready to go.”


Source: Agweek


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Pipeline Firms Widen Natural-Gas Networks

A profound geographic shift in U.S. natural-gas drilling is leading pipeline companies to expand into new territories, even as prices for the fuel appear stuck in a lengthy slump.


A few years ago, pipeline companies were focused on moving plentiful natural gas from the Rocky Mountains to hungry Northeastern markets. Today's challenge is building enough infrastructure to handle the flood of gas now being pumped out of shale-rock formations in Appalachia and the Southeast.


Source: Wall Street Journal


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