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United States Oil and Gas Market Update

Main Update Highlights from entire month of June, 2013

Wood Group chosen for Texas coast gas pipeline ‐ Wood Group Mustang has been selected by
US natural gas exploration and production company, Williams to provide survey, engineering, design
and programme management for its Purity Pipeline projects.

Light, sweet oil may outpace US Gulf Coast refining capacity soon.

TOBS/N 70 Base Oil FOB USA price down by 1% in June 2013 as compared to last month price.

BS 150 FOB USA prices down in June 2013.

US gas boom causes methane leaks ‐ The switch from coal to natural gas as a fuel for electricity
production in the US has been previously praised as a successful way of reducing the amount of carbon
dioxide emissions the country creates. It has now arisen that although carbon dioxide emissions have
been reduced, methane leaks occurring at production sites could make the benefits of the power source
switch negligible. A new report produced by the Centre for Climate and Energy Solutions (C2ES) has
suggested that climate benefits may be outweighed by the amount of methane that is leaking into the
atmosphere. The report, entitled Levering Natural Gas to Reduce Greenhouse Gas Emissions, is an
examination of the benefits of using natural gas and the climate challenges that its use creates. Eileen
Claussen, C2ES president, said: “The natural gas boom can help grow the economy while shrinking our
carbon footprint, and there’s much greater potential on both fronts, but we need a diverse energy
supply. Natural gas is not carbon‐free and we can’t let it crowd out nuclear and renewables. It’s also
critical that we do a better job of measuring and minimising methane releases.”

Bio‐based transformer oil is being used in large number of transformers mainly in the North
American region

Source: GulfNews, KhaleejTimes, Meed, and regional US newspapers.