State plan would convert refinery near Arroyo Grande into recreation spot
ARROYO GRANDE, Calif. (AP) California State Parks announced plans for a massive recreational development on oil refinery property, although the company will not cease operations for another two years.
The proposal for the Phillips 66 Santa Maria refinery near Arroyo Grande hinges on whether the parks agency buys or leases the property, The Sacramento Bee reports.
The facility, which produces an average of about 44,500 barrels of crude oil per day and employs 140 people, announced plans to close in 2023.
The parks department wants to develop the land to “support recreational activities” for the nearby Oceano Dunes State Vehicular Recreation Area.
A federal judge in Anchorage has denied a bid by indigenous and environmental groups to block construction, which could begin as early as Tuesday, that is part of oil producer ConocoPhillips Co's $2 billion to $3 billion drilling project in the National Petroleum Reserve.
S&P Global Ratings Takes Multiple Rating Actions On Major Oil And Gas Companies To Factor In Greater Industry Risks
- S&P Global Ratings believes the energy transition, price volatility, and weaker profitability are increasing risks for oil and gas producers.
- To factor this into our ratings, on Jan. 25, 2021, we revised our industry risk assessment to moderately high risk from intermediate risk.
- We have placed our ratings on nine companies and their subsidiaries on CreditWatch with negative implications, as we review the consequences of higher business risks for these ratings.
- We are revising the outlooks on two ratings to negative.
Former Noble Energy Exec Brent Smolik Joins Marathon Oil Board
The addition of Brent Smolik, formerly president and COO of Noble Energy, increases the size of the Marathon Oil board of directors to nine, according to a company filing.
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Marathon Oil Corp. said Jan. 11 that Brent Smolik, a former executive at Noble Energy, has been elected to the company’s board of directors.
Brent Smolik
Smolik, 59, has over 35 years of experience in the oil and natural gas industry. He recently retired from his role as president and COO of Houston-based Noble Energy following its merger with Chevron Corp. in 2020.
As the November election drew closer, Babst Calland’s Kevin Garber and Jean Mosites joined Hart Energy to analyze the stance of major party candidates on key environmental issues and what the oil and gas industry can anticipate, depending on the victors.
Despite the “night and day difference” between President Donald Trump and former Vice President Joe Biden on energy and environmental policies, the attorneys said oil and gas executives needed to focus their attention beyond the presidential race.
“Looking at the real local level, there are task forces, there are climate plans, there are initiatives for electric vehicles and renewables and building codes whether you can or cannot have gas hookup in new construction,” said Jean Mosites, a Babst Calland shareholder who practices environmental law. “A lot of interesting things are going on and certainly not just federal.”