Oil And Gas News / Reports
FGE: China would have imported more US energy anyway

While jousting over trade with US President Donald Trump, Chinese leaders must have come easily to their agreement to raise imports of US energy over 3-5 years.


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Unipetrol wraps turnaround at Kralupy refinery

Unipetrol RPA SRO-Rafinerie, the refining arm of Unipetrol AS and parent company Polski Koncern Naftowy SA (PKN Orlen), has completed the largest turnaround in the history of its 3.3 million-tonne/year Kralupy nad Vltavou refinery in Czech Republic.

 


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Baker Hughes: US rig count jumps 13 units

The US drilling rig count was up 13 units to 1,059 the week ended May 25, according to Baker Hughes data. The count is up 151 units from this time a year ago when the count stood at 908. 


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Total due stake in Novatek’s Arctic LNG 2

Total SA has signed an agreement with Novatek to acquire a 10% participation interest in the Russian company’s 19.8 million-tonne/year Arctic LNG 2 project on northern Siberia’s Gydan Peninsula. Novatek plans three liquefaction trains with combined capacities of 19.8 million tpy of LNG from gas produced at Utrenneye gas and condensate field. 


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Woodside to speed up, add to Scarborough development plans

Woodside Petroleum Ltd., Perth, would like to accelerate and increase the breadth of its plans through development of the Scarborough natural gas fields on the Exmouth Plateau offshore Western Australia.

 


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UNCTAD report urges developing countries to view fracing cautiously

Countries seeking ways to increase access to energy should view hydraulic fracturing cautiously because of possible gaps in local geological and hydrological knowledge, inadequate regulatory environments, and diversion of resources from renewable energy source, a United Nations Conference on Trade and Development (UNCTAD) report recommended on May 24.


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Borr Drilling buys 5 jack up rigs from Keppel FELS

Keppel Corp. Ltd., a wholly owned subsidiary of Keppel Offshore & Marine Ltd., has sold five jack up rigs to Borr Drilling Ltd. for $745 million. One rig is scheduled to be delivered in late-2019 with four rigs to be delivered during 2020. 


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MARKET WATCH: US crude oil prices follow equity markets down

Oil futures prices eased May 24 on both London and New York markets. Light, sweet oil prices followed a fall in US equity markets after US President Donald Trump’s announcement calling off a summit with North Korea.


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Mubadala Petroleum joins Russian venture

The oil and gas unit of a major Abu Dhabi wealth fund is planning its first major investment in Russia. Mubadala Petroleum and the Russian Direct Investment Fund will acquire a 49% equity interest in Gazpromneft-Vostok to form a joint venture with Gazprom-Neft for development of oil fields in the Tomsk and Omsk regions. 


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Callon to buy certain Permian basin assets from Cimarex for $570 million

Callon Petroleum, Natchez, Miss., will acquire from Cimarex Energy Co., Denver, certain oil and gas properties principally in Ward County, Tex., for $570 million cash.


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A unified Europe is essential to its energy security, forum told

European governments must resist letting controversial proposed projects such as the Nord Stream 2 natural gas pipeline keep them from developing a unified strategy to prevent Russian energy interventions, speakers agreed at a May 24 Atlantic Council forum. 


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New Vietnamese refinery produces first diesel

Nghi Son Refinery & Petrochemical LLC is now producing diesel from its 200,000-b/d refinery and petrochemical complex in Thanh Hoa Province in Vietnam. 


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Shell makes sixth discovery in Norphlet deepwater play

Shell Offshore Inc. reported its sixth oil discovery in the Norphlet geologic play in the deepwater US Gulf of Mexico. Drilled to a total vertical depth of 29,000 ft, the Dover well encountered 800 net ft of pay in the Jurrassic Norphlet.

 


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OGA reports awards for 30th offshore licensing round

The UK Oil & Gas Authority (OGA) has offered for award 123 licenses over 229 blocks or partial blocks to 61 companies in the 30th Offshore Licensing Round. The round was launched on July 25, 2017, and closed for applications on Nov. 21, 2017. Locations vary across the UK Continental Shelf. 


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Most of RAK on offer in licensing round

Bids are due in November in an oil and gas licensing round covering most of Ras Al Khaimah, the northernmost member of the United Arab Emirates. The government opened data rooms in the emirate and London last month for seven blocks, four in shallow water and three onshore. The blocks cover 4,340 sq km.


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US Senate Democrats ask Trump to act on rising gasoline prices

Four US Senate Democrats, including Ranking Minority Member Charles E. Schumer (NY) and Energy and Natural Resources Committee Ranking Minority Member Maria E. Cantwell (Wash.), have asked President Donald Trump to act in response to rising gasoline prices as the summer driving season gets under way.


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Thailand’s IRPC lets contract for grassroots MARS complex

IRPC PLC has let a contract to Honeywell UOP LLC to provide a suite of advanced process technologies for IRPC’s maximum aromatics (MARS) project, a naphtha-reforming and aromatics complex to be built at the operator’s existing integrated petrochemical complex in Rayong Province, Thailand. 


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MARKET WATCH: Brent crude price nears $80/bbl again

Brent crude oil prices gained modestly during the May 23 trading session in London to approach $80/bbl. Traders and analysts awaited news from a meeting of oil ministers in Russia that includes some Middle Eastern officials.


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UK gas problems need more steps in the right direction

To call something a step in the right direction is to spray cheery paint on disappointment. Ineos musters no more applause than that for the UK government’s new measures to promote development of natural gas in English shale.


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EBRD finances upgrade of Egypt’s Suez refinery

The European Bank for Reconstruction & Development is providing a $200-million loan to state-owned Egyptian General Petroleum Corp. subsidiary Suez Oil Processing Co. for the upgrade of its 68,000-b/d refinery adjacent to Suez, Egypt, at the entrance of the Suez Canal.

 


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Total seeks interest in Block 8 off Cyprus

Total is seeking an interest in a block off Cyprus west of where Turkish military vessels in February blocked drilling planned by Eni. Stephane Michel, president, Middle East and North Africa of Total Exploration & Production, told reporters after a meeting with Cypriot President Nicos Anastasiades that the company had applied for an interest in Block 8.


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US House panel examines improved US resource position, geopolitics

A dramatically improved US oil and gas resources outlook in the last 10 years has created important geopolitical and trade opportunities while making the country more secure in energy and economic terms, witnesses told a US House Foreign Affairs subcommittee on May 22.


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ExxonMobil plans 15% decrease in methane emissions

ExxonMobil Corp. reported greenhouse gas reduction measures that are expected to decrease its methane emissions by 15% and flaring by 25% by 2020. Efficiency improvements in its refining and chemical manufacturing facilities also are planned. 


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ADNOC details Ruwais downstream growth plans

Abu Dhabi National Oil Co. has unveiled further details regarding its previously announced plans to accelerate expansion initiatives at the Ruwais refining and petrochemical complex as part of the company’s $45-billion program to become a global downstream leader under a new combined model of strategic partnerships and investments.

 


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Sanchez, Targa expand midstream joint venture in South Texas

Sanchez Midstream Partners and Targa Resources have merged their respective 50% interests in the entities that own the high-pressure Carnero gathering line and Raptor gas processing facility to form an expanded 50-50 joint venture in South Texas. 


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BC lawsuit challenges Alberta’s Bill 12

The British Columbia government has filed a lawsuit challenging legislation that empowers Alberta’s energy minister to require licenses for transport of energy away from the province. The Alberta Legislative Assembly passed Bill 12 this month in response to BC opposition to expansion by Kinder Morgan of the Trans Mountain Pipeline between Edmonton and Burnaby, BC.

 


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Santos rejects Harbour takeover proposal, terminates discussions

Santos Ltd., Adelaide, has rejected the latest conditional, binding takeover offer from Harbour Energy Ltd. Harbour confirmed that this week’s proposal of a scheme of arrangement at a cash price of $5.21/share was its best and final offer. 


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EIA: US crude stockpiles increase 5.8 million bbl

US crude oil inventories, excluding the Strategic Petroleum Reserve, increased 5.8 million bbl for the week ended May 18, according to US Energy Information Administration data.


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Iranian sanctions hit work in field off UK

Recompletion of a well in Rhum gas field in the UK North Sea has been suspended because Iranian Oil Co. (UK) Ltd., a subsidiary of National Iranian Oil Co., holds a 50% interest.

 


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MARKET WATCH: NYMEX, Brent crude prices split directions on geopolitical risks

Brent crude oil prices gained modestly during the May 22 trading session in London to remain above $79/bbl for a second consecutive day while light, sweet crude oil prices dropped slightly May 22 on the New York market to settle above $72/bbl.


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Cheniere reaches FID for Train 3 at Texas liquefaction project

Cheniere Energy Inc., Houston, made final investment decision on Train 3 at its Corpus Christi, Tex. liquefaction project (CCL project), marking the first FID on new liquefaction capacity in the US since 2015, the company said.

 


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UGI to expand Auburn Gathering System

UGI Corp. subsidiary UGI Energy Services LLC, Valley Forge, Pa., is expanding its Auburn Gathering System with the construction of two additional compressor stations in Pennsylvania’s Susquehanna and Wyoming counties.


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Cureton Midstream lets contract for Niobrara basin gas plant

Cureton Midstream let a contract to Honeywell International to provide a suite of cloud-based technology and interactive support services aimed at improving productivity, efficiency, and profitability of operations of its cryogenic natural gas processing plant and associated systems designed to extract 99% of ethane and 100% of propane from production in Weld County, Colo., in the Niobrara basin.


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Industry, government seen better prepared for 2018 hurricane season

Governments at every level and all parts of the US oil and gas industry have learned from past extreme weather events and are better prepared for the 2018 Atlantic Hurricane Season, officials from six national trade associations generally agreed on May 22. 


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Offset to SDX Egyptian strike noncommercial

The second of two near-field prospects offsetting the SDX Energy Inc. SD-1X discovery north of Cairo, Egypt, is not commercial, the operator said. The well, Kelvin-1X, reached 8,075 TD and encountered 606 net ft of high-quality reservoir in Upper Miocene Abu Madi sands with average porosity of 21%. But gas saturation was low. 


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Etinde appraisal well spudded off Cameroon

New Age Cameroon Offshore Petroleum SA has spudded the first of two appraisal wells planned this year on the Etinde license area offshore Cameroon.


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Chemical Safety Board chair to resign next month

US Chemical Safety Board Chair and Chief Executive Vanessa Allen Sutherland announced she will resign next month. Board members will be required to vote on an interim executive, unless and until the White House nominates and the Senate confirms a new chair, the 20-year-old independent federal agency said on May 21.


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Buru Energy farms out half of Ungani oil field

Roc Oil Co. Ltd., a wholly owned subsidiary of Hong Kong-based Fosun International Ltd., has agreed to acquire 50% interest in Perth firm Buru Energy Ltd.’s Ungani oil field production licenses L20 and L21 in the onshore Canning basin of Western Australia for $64 million (Aus.).


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MARKET WATCH: Crude oil benchmarks gain after US demands on Iran

Brent crude oil prices approached $80/bbl during the May 22 trading session in London a day after US Sec. of State Mike Pompeo outlined demands on May 21 that Iran must meet before US officials would agree to enter a new nuclear agreement with Iran.

 


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Ingram adds exploration to Anadarko role

Mitch Ingram has been named executive vice-president, international, deep water, and exploration at Anadarko Petroleum Corp. He will oversee international and deepwater operations as well as global exploration and project management.


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New York AG’s fall boosts freedom, won’t hurt climate agenda
Climate extremism will survive a single extremist’s fall from grace. Still, the resignation amid scandal of New York Atty. Gen. Eric Schneiderman illuminates a political movement choking on self-righteousness.
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DOD report suggests limits to oil, gas activity in eastern gulf
The US Department of Defense considers the eastern Gulf of Mexico an irreplaceable national asset for developing and maintaining combat force readiness where sufficient surface limits and activity restrictions would need to be developed if oil and gas exploration and production was to be allowed there, DOD said.
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Watching Government: RFS maneuvers remain political
It was far from certain as of May 15 what the Trump administration specifically would do to address renewable fuel quota problems, which led to a much-ballyhooed White House meeting a week earlier. The continuing pure politics of the situation were blindingly obvious, however.
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Pruitt signs memo outlining NAAQS ‘back to basics’ review process
US Environmental Protection Agency Administrator E. Scott Pruitt signed a memorandum describing a “back to basics” process for reviewing the federal Clean Air Act’s National Ambient Air Quality Standards (NAAQS).
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Government policies to continue shaping energy technology, forum told
Government policies will continue to play a major part in emerging energy technologies, speakers suggested at a May 8 Atlantic Council discussion.
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Carnarvon advances plans for Buffalo redevelopment
Carnarvon Petroleum Ltd., Perth, has announced its plans for redevelopment of Buffalo oil field in the Timor Sea. The field now lies completely within the jurisdiction of East Timor following the signing of the Maritime Boundary Treaty with Australia earlier this year.
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Chevron advocates shared development of Carnarvon basin
Chevron Australia has called for industry collaboration in the development of Australia’s offshore oil and gas resources to maximize their potential and ensure economic efficiency of future projects.
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Western Gas looking for Equus development partner
Privately held Western Gas Corp. Pty. Ltd., Perth, has completed a basis of design for development of its wholly owned Equus gas-condensate fields offshore Western Australia and is now looking for a project development partner.
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