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Phillips 66, Energy Transfer Partners and Sunoco Logistics Partners have formed a joint venture to build the Bayou Bridge pipeline that will deliver crude oil from the Phillips 66 and Sunoco Logistics terminals in Nederland, TX to Lake Charles, LA.

The venture will also launch an expansion open season for service to the market hub in St. James, LA. Phillips 66 holds a 40% interest in the joint venture and Energy Transfer and Sunoco Logistics each hold a 30% interest. Sunoco Logistics will be the operator of the system.

Offshore energy production in the Gulf of Mexico has experienced relatively minor disruptions because of tropical storms and hurricanes in recent years, and the National Oceanic and Atmospheric Administration (NOAA) has predicted a below-normal 2015 hurricane season in its updated Atlantic Hurricane Season Outlook, released on Aug. 6.

COLUMBUS, Ohio (AP) — The state Department of Natural Resources says historic amounts of oil and natural gas are being produced by Ohio shale wells.

Statistics released by the department Thursday show more than 10 MMbbls of oil and 405 Bcf of natural gas were produced during the second quarter of the year.

The department says those amounts were more than in any previous three-month reporting period.

During the same period in 2014, the state's wells produced about 4.4 MMbbls of oil and 156 Bcf of natural gas.

Editor’s note: This update, provided by the Kenai Peninsula Borough mayor’s office, is part of an ongoing effort to help keep the public informed about the Alaska LNG project.

Alaska is vast, with a lot of open ground, but it seems like transportation projects in the state - be it roads, railroads or pipelines – can’t help but cross over or under each other while traversing the same natural corridors.

QUITO, Ecuador (AP) — Ecuadoreans are already contending with a rumbling, ash-spewing volcano and rising living costs because they use the appreciating U.S. dollar as their currency.

Now they've been told that Ecuador's oil — its principal export and a vital source of government funding — costs more to produce than it earns.

President Rafael Correa explained on Tuesday, during a visit to areas threatened by the Cotopaxi volcano, that it costs the OPEC nation $39 to produce a barrel of oil for which it only receives $30.

NEW ORLEANS (AP) — Three workers were injured after a natural gas pipeline ruptured in the Gulf of Mexico about 25 miles south of Marsh Island.

Petty Officer Ryan Tippets said the rupture caused the pipeline to catch fire. He said the injured crew members were taken to a hospital in Houma, LA with minor injuries. He said the Coast Guard received notification of the rupture at about 8:30 p.m. Wednesday.

NEW ORLEANS (AP) — Environmental groups and a New Orleans energy company have reached a settlement agreement in a lawsuit stemming from the company's failed efforts to stop a decade-old, slow-motion oil spill in the Gulf of Mexico.

Flow on Rockies Express Pipeline (REX) has continued to stay below anticipated levels, with the recent dip caused by Rice Energy shifting production from its REX/Gunslinger point to the similar TETCO/Boltz Ridge meter in Monroe County, OH.

BP’s Whiting refinery, the largest refinery in the Midwest, made a quicker-than-expected return to action this week. BP released a statement saying that the large crude distillation tower that went offline and caused gasoline prices to spike in the Midwest has “safely restarted,” and that output would ramp up over time.

(Business Wire) – The nation’s finance chiefs are relatively optimistic about the future, but remain cautious in the face of domestic uncertainties like Congressional inaction on tax reform.

This according to the latest edition of Grant Thornton LLP’s CFO Survey, which reflects the insights of more than 900 chief financial officers and other senior financial executives across the United States.

“Lawmakers need to agree on at least a two-year retroactive extension of nearly all the provisions, with a one-year extension as an absolute fallback.”