Oil And Gas News / Reports
Prejudgment, resort to oil weapon harmful to Khashoggi response

Imagine an oil market with one quarter of total supply controlled by two countries hostile to the West.

 


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Energy Transfer unit launches open season for Bakken pipeline system

Energy Transfer LP subsidiaries Dakota Access LLC and Energy Transfer Crude Oil Co. LLC (ETCO) launched a binding expansion open season to solicit shipper commitments for expanded transportation service through the Bakken pipeline system.


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What’s really doomed in new IPCC report? Politics of hysteria

If doom really exudes from the Intergovernmental Panel on Climate Change’s latest jeremiad, it relates more to politics than planetary temperature.

 


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Baker Hughes: US rig count up 4 units to 1,067

The US drilling rig count was up 4 units to 1,067 rigs working for the week ended Oct. 19, according to Baker Hughes data. The count is up 154 units from the 913 rigs working this time a year ago.


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Chandler named Laredo senior VP, COO

T. Karen Chandler has been promoted to the positions of senior vice-president and chief operating officer of Laredo Petroleum Inc., Tulsa.


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EPC contract let for Thai refinery upgrade

Thai Oil PLC has let a $4-billion contract to a consortium of Saipem, Petrofac, and Samsung for the Clean Fuel Project at its 275,000-b/d refinery at Sriracha, Thailand. The work will include engineering, procurement, construction and start-up for new units and upgrading of existing units.


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API: US petroleum demand in September slowed from August

With seasonal slowing after the summer driving season, US petroleum demand was 20.1 million b/d in September, down 3.5% from August but up 2.4% compared with September 2017. This is according the latest monthly statistics report from the US American Petroleum Institute. Year-to-date through September, US petroleum demand remained at its strongest since 2007, averaging 20.4 million b/d. This was an increase of nearly 500,000 b/d over the same period in 2017.


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Aker BP continues delineation of Gekko discovery in North Sea

Aker BP, operator of production license 203, and its partners are considering tie-back of its Gekko oil and gas discovery well (25/4-3) in the North Sea to the Alvheim floating production, storage, and offloading vessel after drilling two appraisal wells about 5 km east of Volund field and 200 km northwest of Stavanger.


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US regulators approve more development in NPR-A

US government regulators approved ConocoPhillips Alaska Inc.’s plan for development of its Greater Mooses Tooth 2 (GMT2) project in the National Petroleum Reserve-Alaska. The approval came less than 2 weeks after oil production started from Greater Mooses Tooth 1 (GMT1).


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Interior reports $2.5 billion in regulatory relief from reforms

Reforms in response to US President Donald Trump’s Executive Order 13771 have resulted in $2.5 billion of regulatory relief for oil and gas producers during the fiscal year 2018, the Department of the Interior indicated on Oct. 17. “The Trump Administration is doing exactly what was promised and making smart decisions to reform and reduce the regulatory burden on the American people and economy, and it’s producing big results,” Sec. Ryan Zinke said.


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MARKET WATCH: Brent crude oil price settles under $80/bbl

Brent crude oil for December settled under $80/bbl on the London market Oct. 18 while light, sweet oil for November and December settled under $69/bbl in New York. The Oct. 18 Brent settlement was the lowest since Sept. 21. Earlier this month, Brent briefly reached above $85/bbl although it failed to settle at that level. Crude oil benchmark prices since fell, which analysts attributed to stock market volatility worldwide.


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PGNiG to acquire Tommeliten interests from Equinor

PGNiG will acquire non-operated interests in the Tommeliten discovery on the Norwegian Continental Shelf in the greater Ekofisk area from Equinor for $220 million. Equinor will divest its 42.38% interest in the Tommeliten Unit (PL 044 TA) and 30% interest in PL 044. Both are operated by ConocoPhillips.


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BP starts production from Thunder Horse Northwest expansion project

BP PLC has started production from the Thunder Horse Northwest expansion project in the deepwater Gulf of Mexico, boosting production at the Thunder Horse facility by an estimated 30,000 boe/d at its peak and taking gross output from the oil field to more than 200,000 boe/d.


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Talos, Hokchi to cross-assign interests in two blocks off Mexico

Talos Energy Inc., Houston, entered into a transaction with Hokchi Energy SA de CV, a subsidiary of Pan American Energy LLC, to cross-assign its participating interest (PI) in Block 2 and Hokchi’s PI in Block 31. Both blocks are in the Sureste basin offshore Mexico.


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Another attempt by Samson to sell Foreman Butte project falls through

Samson Oil & Gas USA Inc. remains in discussions with Eagle Energy Partners I LLC, but also is seeking an alternate buyer for substantially all its Foreman Butte project after a $40-million agreement with Eagle Energy expired on Oct. 15.


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JupiterMLP secures funding to advance Permian-to-GC oil line

JupiterMLP LLC has secured enough funding from Charon System Advisors to build the 1 million-b/d capacity Jupiter Pipeline from the Permian basin to the Port of Brownsville, Tex., and will hold an open season for remaining capacity in November.


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EPA: US reports GHG emissions in 2017 down 2.7% from 2016

US reported greenhouse gas emissions totaled 2,898 million tonnes of carbon dioxide equivalent, 2.7% less than in 2016, the US Environmental Protection Agency reported on Oct. 17. The direct emissions data from 7,544 facilities in nine energy sectors as of Aug. 19 represent about half of the nation’s total GHG emissions, it said.


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MARKET WATCH: Oil prices drop on surprise build in US oil inventory

Light, sweet oil prices settled under $70/bbl, down more than $2 on the New York market Oct. 17 compared with the previous day after a government report showed an unexpected rise in the US crude oil inventory, excluding the Strategic Petroleum Reserve.


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Noreco to buy Shell Denmark upstream unit for $1.9 billion

Norwegian Energy Co. ASA (Noreco) has acquired from Royal Dutch Shell PLC the company’s upstream interests in Denmark via its shares in Shell Olie-og Gasudvinding Danmark BV (SOGU) in a deal valued at $1.9 billion. SOGU, a wholly owned Shell subsidiary, holds a 36.8% non-operating interest in the Danish Underground Consortium (DUC).


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Crimson Midstream, MPLX launch open season for Swordfish line

Crimson Midstream and MPLX have launched a binding open season to assess interest and solicit commitments from prospective shippers for crude oil transportation service on the Swordfish Pipeline. The pipeline is being developed to connect existing terminal facilities in St. James, La., and Raceland, La., to the Louisiana Offshore Oil Port terminal facility in Clovelly, La.


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Wintershall granted drilling permit in the Norwegian Sea

Wintershall Norge AS has been granted a drilling permit by the Norwegian Petroleum Directorate for well 6706/6-2 S in the Norwegian Sea. The well will be drilled using Transocean Ltd.’s Transocean Spitsbergen ultradeepwater semisubmersible drilling rig about 7 km northwest of the 6706/6-1 (Hvitveis) natural gas discovery made in 2003.


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EIA: US crude inventories increase 6.5 million bbl

US crude oil inventories, excluding the Strategic Petroleum Reserve, increased by 6.5 million bbl for the week ended Oct. 12, according to data from the US Energy Information Administration. At 416.4 million bbl, US crude oil inventories are about 2% above the 5-year average for this time of year, the report indicated.


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MARKET WATCH: Oil price rally pauses given US stock market volatility

Light, sweet oil prices climbed to settle slightly higher on Oct. 16 but fell Oct. 17 in early trading on the New York market, which analysts attributed to broader US equity market jitters. Crude prices had climbed to multiyear highs recently on oil supply concerns worldwide.


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Lukoil lets EPC contract for Kstovo coker

Lukoil NizhegorodNefteorgSyntez has let an engineering, procurement, and construction contract to McDermott International Inc. for a delayed coking unit at the 17 million-tonne/year refinery at Kstovo in Central Russia’s Nizhny Novgorod region. The 2.1 million-tpy coker will be part of a deep-conversion complex under construction at the refinery.


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Tallgrass, Silver Creek expand combine to transport PRB production

Tallgrass Energy LP, Leawood, Kan., and Silver Creek Midstream LLC, Irving, Tex., will expand their Powder River basin joint venture to own the Iron Horse Pipeline, the Powder River Express Pipeline (PREP), and crude oil terminal facilities in Guernsey, Wyo. Tallgrass will operate Powder River Gateway LLC with 51%. Silver Creek will own 49%.


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DrillCo plans fall through for Jones Energy

Jones Energy Inc., Austin, has scrapped plans to form a drilling joint venture in the Merge and Western Anadarko basins after a potential financing deal fell through.


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Shell Australia, QGC to drill 250 gas wells in Queensland

A group led by Royal Dutch Shell PLC that includes Queensland Gas Co. (QGC) plans to drill 250 coal seam gas wells during 2019-20 as part of its program in the Western Downs region of Queensland. The wells will be connected to the existing QGC gas processing plants and produce about 930 petajoules of gas over the next 30 years.


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Chances rise for Goddard gas development

Chances for development of the Goddard natural gas discovery in the UK North Sea have risen to 75% after third-party confirmation of the resource estimate, reports Independent Oil & Gas. ERC Equipoise estimated gross midpoint contingent resources at 108 bcf for the main Goddard structure and at 73 bcf for two adjacent structures directly east of the discovery, in line with IOG estimates.


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Po Valley keeps Italian oil fields after aborted sale

Po Valley Energy Ltd., Perth, has kept full ownership of its two onshore oil fields in northern Italy northeast of Modena following the blockage of their sale to private UK company Delta Energy Ltd. by a major Delta shareholder.


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Devon restores full-scale operations at Jackfish 1 complex

Devon Energy Corp., Oklahoma City, completed additional facilities work at its Jackfish 1 heavy oil project in the southern Athabasca oil sands region of Alberta, and full-scale operations have been restored. The work was related to minor facility repairs identified during turnaround startup activities.


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MARKET WATCH: Oil benchmark prices supported by ongoing US-Saudi tensions

Crude oil benchmark prices rose moderately on New York and London markets Oct. 15 amid rising US-Saudi tensions after the disappearance and suspected killing of a dissent Saudi journalist. US President Donald Trump has suggested some punishment if the Saudi government is found to have been involved in the disappearance of journalist Jamal Khashoggi who was last seen entering the Saudi consulate in Istanbul on Oct. 2.


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Survey sees fading appreciation for economic freedom
More important than country rankings in the Fraser Institute’s annual Economic Freedom of the World (EFW) report are indications of fading appreciation for the ability of individuals to make their own economic decisions.
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Watching Government: Improving pipeline cybersecurity
The US Departments of Energy and Homeland Security jointly announced a new Pipeline Security Initiative on Oct. 3 as their Oil and Natural Gas Subsector Coordinating Council (ONG SCC) held its final 2018 meeting at DOE.
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API: US petroleum net imports rose strongly on falling exports
The US has reached a new record for crude oil production of 10.8 million b/d over the past 2 months, but petroleum exports decreased by 1.3 million b/d since June, according to a recent industry outlook for the third quarter from the American Petroleum Institute.
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Shell unit advances construction at Appalachian ethylene complex
Shell Chemical Appalachia LLC has completed installation of major equipment at its long-planned grassroots petrochemical complex currently under construction along the Ohio River in Potter Township, Beaver County, Pa., about 30 miles northwest of Pittsburgh.
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Beach Energy sells 40% of its Otway basin interests
Beach Energy Ltd., Adelaide, has sold 40% of its Victorian-Tasmanian Otway basin interests to Monaco-based Israeli businessman Eyal Ofer’s OG Energy Holdings Ltd. for $344 million (Aus.) in cash.
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Michigan in new deal or Enbridge to replace Line 5 in straits
Enbridge Inc. will shut down and replace its Line 5 across the Straits of Mackinac with a multiuse utility tunnel that the Calgary energy transmission company will pay for, Michigan Gov. Rick Snyder (R) announced.
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Polish president seeks more US help in fighting Russian energy moves
The US and Poland will need to keep working together to fight European energy security threats represented by the Nord Stream 2 natural gas pipeline and possible additional Russian-backed projects, Polish President Andrzej Duda said following a White House meeting last month with US President Donald Trump.
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EPA proposes revisions in oil and gas operations’ emissions limits

The US Environmental Protection Agency proposed changes in regulations it issued in 2016 limiting emissions at oil and gas operations. Specifically, it is reconsidering fugitive emissions requirements, wellsite pneumatic pump standards, requirements for certification of closed vent systems, and the alternative means of emissions limitations provisions, EPA said in an Oct. 15 Federal Register notice.


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Trump orders EPA to waive volatility limits for E15
US President Donald Trump ordered the US Environmental Protection Agency to waive volatility limits for gasoline with a 15% blend, facilitating its year-round sale in the country.
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EPA starts oil, gas wastewater management study amid complexities
The US Environmental Protection Agency is studying oil and gas wastewater management requirements and policies with the intention of producing a white paper early in 2019 that will help it determine if new federal regulations are necessary, officials said Oct. 9. They also acknowledged that it will be difficult.
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NGSA: Record winter gas demand to be matched by record production
US demand for natural gas is projected to reach an all-time high this winter, but soaring production will ably satisfy demand, resulting in flat pressure on prices compared to last winter, the Natural Gas Supply Association said in its 18th annual Winter Outlook forecast of the wholesale winter gas market.
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Oil’s growth market
Whether or not governments aggressively pursue energy sustainability, petrochemicals constitute an important growth market for oil and natural gas. Work should start now to prevent activists from sabotaging the business.
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Climate change positioning
Some oil companies are addressing climate change through various initiatives, including ongoing investments in alternate energy and supporting a new political action committee dedicated to passage of a US carbon tax.
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WoodMac: Asia-Pacific oil and gas industry set for rebound

The Asia-Pacific’s oil and gas industry looks set to rebound over the next 12 months as rising demand, stronger commodity prices, and an uptick in merger and acquisition activity bring greater confidence to the region, according to a recent report from Wood Mackenzie.


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ADNOC to build sulfur pipeline, expand Shah gas processing

Abu Dhabi National Oil Co. (ADNOC) Sour Gas, a subsidiary joint venture of ADNOC and Occidental Petroleum Corp., is set to build a pipeline to carry molten sulfur produced by its Shah field sour gas operations.


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Equinor starts production from Oseberg Vestflanken 2

Equinor and partners started production from Oseberg Vestflanken 2 field in the North Sea using the first unmanned platform on the Norwegian Continental Shelf. Remotely operated from the field’s center, the new Oseberg H platform is fully automatic and serves as a pilot.


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Lukoil advances V. Filanovsky development

Lukoil soon will start drilling the sixth production well in second-phase development of Vladimir Filanovsky oil field in the Caspian Sea as a recently completed fifth well holds total production at 6 million tonnes/year. The fifth well, with a main wellbore of 2,956 m and a lateral of 1,735 m, produced at an initial rate exceeding 3,300 tonnes/day of oil, Lukoil said.


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Aker BP plans King Lear satellite development following acquisition

Aker BP has agreed to acquire Equinor Energy’s 77.8% interest in the King Lear gas-condensate discovery in the Norwegian North Sea for $250 million with plans to develop it as a satellite to Ula field.


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QP to operate Idd El-Shargi North Dome field

Qatar Petroleum will become operator of offshore Idd El-Shargi North Dome oil field when its development and production sharing agreement with Occidental Petroleum of Qatar Ltd. expires in October 2019. Discovered in 1960, the field is 85 km off Doha.


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