News

WASHINGTON, April 25, 2011 – Oil and natural gas company holdings in Michigan pension funds are providing disproportionately strong returns for retirees, according to a new study by Sonecon, commissioned by API. While oil and natural gas stocks make up 5.0 percent of public pension holdings in Michigan, they accounted for 11.6 percent of the returns in these accounts from 2005 to 2008.

WASHINGTON, April 25, 2011 – Oil and natural gas company holdings in state pension funds are providing disproportionately strong returns for retirees, according to a new study by Sonecon, commissioned by API. While oil and natural gas stocks make up an average of 3.9 percent of public pension holdings in four key states, they accounted for an average of 8.6 percent of the returns in these accounts from 2005 to 2008.

WASHINGTON, April 15, 2011 – Oil and natural gas drilling remains below 2009 levels. According to API’s 2011 Quarterly Well Completion Report: First Quarter, an estimated 10,431 oil wells, natural gas wells and dry holes were completed in the first quarter of 2011, up 29 percent from 2010’s first quarter but down almost 8 percent from 2009’s first quarter.

WASHINGTON, April 13, 2011 – Today API awarded its 2010 Distinguished Award for Outstanding Safety and Environmental Performance to Koch Pipeline Company, L.P. This is API’s highest safety and environmental performance award for pipeline operators. Harry Pefanis, President and COO of Plains All American Pipeline and Chair of API’s Pipeline Subcommittee, presented the award to Bob O’Hair, Executive Vice President of Operations and Compliance Excellence for Koch Pipeline Company, L.P. at API’s 62nd annual Pipeline Conference in San Antonio, Texas.

WASHINGTON, April 12, 2011 – Russell Jones, API’s senior economic adviser, today called the Shale study released by Professors Robert Howarth,Renee Santoro and Anthony Ingraffea, bunk.

WASHINGTON, April 7, 2011 – API praised the leadership of Chairman Upton and other members of Congress from both parties who voted to stop EPA from regulating greenhouse gases under the Clean Air Act. Marty Durbin, API executive vice president, called today’s action an important step toward stopping the EPA’s regulations and called on the president not to ignore this bipartisan vote:

WASHINGTON, April 6, 2011 – API President and CEO Jack Gerard applauded members of Congress who today voted to preserve American jobs by blocking EPA from regulating greenhouse gases. Gerard noted that while no single amendment won enough votes to pass in the Senate, “more than 60 Senators - an overwhelming majority – voted in one way or another to keep the EPA from moving forward.” Gerard also called on President Obama to work with this bipartisan group to come to an agreement:

WASHINGTON, April 5, 2011 – API today announced the addition of Carrie Melvin Domnitch to its government relations team as Director of Federal Relations focusing on upstream issues.

WASHINGTON, April 1, 2011 — This April marks the fourth annual National Safe Digging Month, a reminder to all Americans to always call 811 a few days before any digging project.

WASHINGTON, March 29, 2011 – API today announced the addition of Sabrina Fang to its media relations team.