Study: Bill C-69 no cure for Canadian investment diseaseWith Bill C-69, “Ottawa’s proposed cure looks likely to worsen Canada’s present disease,” according to a new study.
Read MoreBaker Hughes: US rig count falls 4 units to 1,047The US drilling rig count dropped 4 units to reach 1,047 rigs working for the week ended Feb. 22. The count is up 69 units from the 978 rigs working this time a year ago, according to Baker Hughes data.
Read MoreAramco forms combine for $10-billion Chinese refining complexSaudi Aramco has signed a $10-billion agreement to form a joint venture with China North Industries Group Corp. (Norinco) and Panjin Sincen to develop a fully integrated, grassroots refining and petrochemical complex in Panjin, in China’s Liaoning province.
Read MoreNorwest-led group plans seismic survey over Xanadu oil discoveryPerth-based Norwest Energy Ltd., Triangle Energy Ltd., and 3C Group IC Ltd. have received regulatory approvals to proceed with the planned Xanadu 3D seismic survey in the offshore North Perth basin of Western Australia.
Read MoreExxonMobil enters cloud technology partnership to raise productionExxonMobil Corp. said a partnership with Microsoft to use cloud technology for the supermajor’s Permian basin operations is expected to increase net cash flow over the next decade through improved analysis and enhanced operational efficiencies.
Read MoreFERC’s new approach signals LNG project certification breakthroughThe US Federal Energy Regulatory Commission adopted a new approach for consideration of proposed LNG terminals that considers direct greenhouse gases from the facilities. It applied the approach for the first time when it considered and approved Venture Global LNG’s Calcasieu Pass LNG export project in Cameron Parish, La., it said.
Read MoreCSIS speakers expect stable oil supplies, unstable prices in 2019Stable supplies and unstable prices will characterize global oil markets during 2019, speakers generally agreed during a Feb. 21 discussion at the Center for Strategic and International Studies. “Volatile prices are still the primary energy expenditures driver. We’ve had kind of a wild ride,” observed Howard Gruenspecht, a CSIS senior nonresident energy and national security associate who formerly was the US Energy Information Administration’s deputy administrator.
Read MoreMARKET WATCH: Crude oil benchmarks decline slightly on record US oil productionOil front-month contracts on the New York Mercantile Exchange and the Intercontinental Exchange in London settled with mild price declines Feb. 21 while product prices rallied as refiners cut crude purchases during seasonal refinery maintenance.
Read MoreNOPEC sponsors target wrong source of market mischiefOnce again, misinformed US lawmakers want to authorize antitrust litigation against the Organization of Petroleum Exporting Countries.
Read MoreSheffield returns to role as PNR chief executiveScott D. Sheffield has assumed his former role as chief executive officer of Pioneer Natural Resources Co., Dallas, succeeding Timothy L. Dove, who has retired as CEO and from his seat on the board.
Read MoreGran Tierra acquires assets in Putumayo, Llanos basinsGran Tierra Energy agreed with private companies to acquire assets in Colombia’s Putumayo and Llanos basins for $104.2 million.
Read MoreNeptune plans Gjoa tie-back developmentsNeptune Energy and partners plan to develop in parallel Duva oil and gas field and an extension designated P1 of Gjoa oil and gas field in the Norwegian North Sea with subsea completions tied back to the Gjoa platform on PL153. Neptune Energy Norge operates both fields, where water depth is about 360 m.
Read MoreQueensland’s CSG-LNG plants unlikely to reach full capacityThe three LNG plants on Curtis Island near Gladstone in Queensland are unlikely to ever fulfill their combined nameplate capacity of 25.3 million tonnes/year, according to a new study by Adelaide-based energy analyst EnergyQuest. The problem is a shortage of coal seam gas (CSG) reserves on which they rely.
Read MoreCalifornia’s new underground injection rules go into effect Apr. 1California’s new underground injection requirements will affect some 55,000 underground injection control (UIC) wells when they go into effect on Apr. 1, the state’s Department of Conservation (DOC) reported. It said the new rules affect wells that inject water or steam for enhanced oil recovery, along with wells that return produced water back to its source.
Read MoreEIA: US crude inventories up 3.7 million bblUS crude oil inventories for the week ended Feb. 15, excluding the Strategic Petroleum Reserve, increased by 3.7 million bbl from the previous week, data from the US Energy Information Administration showed. At 454.5 million bbl, US crude oil inventories are about 6% above the 5-year average for this time of year, the report indicated.
Read MoreFederal court upholds FERC’s approval of Mountain Valley gas lineThe US Appeals Court for the District of Columbia upheld the Federal Energy Regulatory Commission’s approval of the proposed Mountain Valley natural gas pipeline by denying several environmental groups’ petition for review of the decision.
Read MoreADNOC Refining lets contract for grassroots refinery at RuwaisADNOC Refining (formerly Takreer) has let a contract to John Wood Group to deliver preliminary front-end engineering and design for a refinery to be built in Ruwais, in the western region of Abu Dhabi. With a proposed nameplate capacity of 600,000 b/d, the new refinery will be designed to have full-conversion capability as well as the ability to be integrated with existing petrochemical infrastructure in Ruwais.
Read MoreMARKET WATCH: Crude oil prices rise on lower-than-expected API inventoryLight, sweet crude oil prices gained on the New York market Feb. 20 while the American Petroleum Institute estimated a limited increase in US crude oil supplies. The US Energy Information Administration was scheduled to release its inventory on Feb. 21.
Read MoreNetherlands becomes a net gas importerThe Netherlands became a net importer of natural gas last year for the first time since the commissioning in 1963 of giant Groningen gas field, production of which is being phased out by the government. GasTerra, which markets Groningen gas for NAM, the ExxonMobil-Shell joint venture that operates the field, reported the shift in Dutch gas trade in a financial report.
Read MoreAPI revises well drilling, servicing safety recommended practiceThe American Petroleum Institute issued a new recommended practice that revises recommended procedures to promote and maintain safe and healthy working conditions for personnel in drilling and well servicing operations. First published in 1981, the latest version of Recommended Practice 54 applies to rotary drilling rigs, well servicing rigs, and special services as they relate to operations on location.
Read MoreAlgeria’s Touat gas project on track for exports by midyearNeptune Energy Group and Algeria’s Sonatrach have started natural gas production as part of the commissioning of the partnership’s Touat project in the Sbaa basin, 1,500 km southwest of Algiers, near Adrar. The development, which will produce about 450 MMcfd of gas at plateau, remains on track to begin gas export production by the end of this year’s first half.
Read MoreDevon to shed assets, focus on US oilDevon Energy Corp. plans by yearend to sell or spin off its heavy oil properties in Canada and gas production in the Barnett shale to focus on US oil. The company has hired advisors for each group of assets to be separated. It will open data rooms by this year's second quarter.
Read MoreAPLNG to buy Ironbark coal seam gas prospect from OriginThe Australia Pacific LNG (APLNG) combine has agreed to acquire the Ironbark coal seam gas project from Origin Energy for $231 million (Aus.). Ironbark—not to be confused with the BP PLC-led group’s conventional gas prospect of the same name offshore Western Australia—lies near Tara in the Surat basin of southeast Queensland.
Read MoreValeura spuds Thrace basin appraisal wellValeura Energy has spudded a second well to appraise its 2017 Yamalik-1 discovery in the Thrace basin of northwestern Turkey. The Devepinar-1 well is 20 km west of the first appraisal well, Inanli-1, which awaits testing. The Inanli-1 is 6 km northeast of Yamalik-1. Valeura said the new well tests the lateral extent of the basin-centered gas accumulation play to the western side of the basin.
Read MoreTarga divests interest in Badlands assets for $1.6 billionTarga Resources has agreed to sell a 45% interest in Targa Badlands, the entity that holds Targa’s North Dakota oil and natural gas assets, to funds managed by GSO Capital Partners and Blackstone Tactical Opportunities for $1.6 billion in cash. Targa will continue to operate and hold majority governance rights.
Read MoreMARKET WATCH: NYMEX crude oil briefly touches 2019 highLight, sweet crude oil closed slightly above $56/bbl on Feb. 19 after having briefly reached a 2019 high of $56.39/bbl, but prices fell in early trading Feb. 20 following a US government forecast that US production from unconventional plays will reach a record during March. The US Energy Information Administration forecast US shale production will reach 8.4 million b/d next month.
Read MoreCSB: Thermal fatigue likely cause of Pascagoula gas plant incidentThermal fatigue was likely the cause of the explosion and fire at Enterprise Products Partners’ Pascagoula, Miss., gas plant late in the evening of June 27, 2016, a US Chemical Safety Board investigation concluded on Feb. 19. The failure of the plant’s brazed aluminum heat exchanger led to the release of methane, ethane, propane, and other hydrocarbons that then ignited, CSB’s final report on the incident said.
Read MoreAruba delays refinery rehab amid US sanctions on VenezuelaRefineria di Aruba, a wholly owned incorporated company of the government of Aruba responsible for compliance monitoring of Citgo Petroleum’s Citgo Aruba Refinery, is putting a hold on the operator’s previously announced program to restart Valero Energy’s former 235,000-b/d refinery in San Nicolas as a result of US sanctions recently placed on Citgo’s parent company Petroleos de Venezuela SA.
Read MoreIndia seeks more oil, gas license appealSeeking to increase exploration and production, India’s Union Cabinet has approved a new round of changes in oil and gas licensing and regulation. “Considering stagnant/declining domestic production of oil and gas, rise in import dependence, and decline in investment in E&P activities, the need to bring further policy reforms was felt,” said a statement by the Ministry of Petroleum and Natural Gas.
Read MoreEquinor lets contract to boost production from Vigdis subsea fieldNorway’s Equinor has let a $13-million engineering, procurement, construction, and installation contract to Wood for the boosting station to increase production from Vigdis subsea field in the Tampen area on Block 34/7 in the Norwegian North Sea.
Read MoreContracts let for gas fields off SarawakSarawak Shell and Sapura Exploration & Production have let contracts to McDermott for work related to the linked development of three natural gas fields offshore Malaysia. The Shell unit’s contract covers transportation and installation of jackets, topsides, and pipelines for Gorek field. The Sapura contract is for the same work for Larak and Bakong fields. McDermott also will fabricate risers and spools under both contracts.
Read MoreSOCAR Polymer commissions HDPE plant in AzerbaijanSOCAR Polymer has started up a high-density polyethylene plant in the Sumgait Chemical Industrial Park about 30 km north of Baku. The 120,000-tonne/year HDPE plant, which officially began operating on Feb. 18, will produce four varieties of HDPE to meet Azerbaijan’s demand, with the remaining 75% of product manufactured at the plant to be exported to Turkey and Europe.
Read MoreAnadarko, Pertamina sign LNG agreement for Mozambique plantAnadarko Petroleum Corp. reported that Mozambique LNG1 Co. Pte. Ltd.—the jointly owned sales entity of the Mozambique Area 1 coventurers—has entered into a 20-year, 1 million-tonne/year LNG supply agreement with Indonesia’s state-owned Pertamina.
Read MoreEquinor releases Great Australian Bight drilling planThe Australian arm of Norwegian international energy company Equinor has released for public comment its draft environment plan for the proposed drilling program of the Stromlo-1 wildcat in exploration permit EPP39 in the South Australian portion of the Great Australian Bight.
Read MoreMARKET WATCH: Brent crude oil approached $67/bbl to start weekBrent crude oil reached a high of $66.83/bbl on the London market Feb. 18 before falling to settle at $66.25/bbl while US markets were closed Feb. 18 for the Presidents’ Day holiday.
Read MoreThe Green New DealFor oil and gas companies, the Green New Deal, unveiled on Feb. 7, should raise concern for one overarching reason: It undermines the intellectual foundation of energy policy-making.
Read MoreMillennials in the workforceThe large number of oil, gas, and petrochemical business employees expected to retire in the next few years along with anticipated industry growth has reinforced the need to attract younger workers. The industry will look to the Millennial Generation to fill roles and support expansion.
Read MoreMontana federal judge’s latest order continues to block Keystone XLUS District Judge Brian Morris issued a new ruling allowing TransCanada Corp. to build and use pipe storage and container yards for the proposed Keystone XL crude oil pipeline. But the Feb. 15 order reportedly continues to block construction of worker camps, effectively keeping work from beginning on the project.
Read MoreRepsol makes gas discovery at Sakakemang onshore IndonesiaIndonesian oil and gas regulator SKK Migas confirmed a natural gas discovery at the Repsol-operated Sakakemang PSC onshore central Sumatra. Repsol started drilling the Kali Berau Dalam-2 well in August 2018, targeting a fractured Pre-Tertiary basement play. The company reentered the well earlier this month following control problems in late 2018, according to consultant Wood Mackenzie.
Read MoreMarathon Oil sets $2.4-billion capital budget for 2019Marathon Oil Corp. has earmarked $2.4 billion in development capital for 2019, the majority of which—95%—to be allocated 60-40 to the four US resource plays: Eagle Ford and Bakken, and Oklahoma and Northern Delaware, respectively.
Read MoreSantos increases operatorship position in offshore Bonaparte basinSantos has boosted its operatorship position in the Bonaparte basin off northern Australia through an agreement with fellow explorer Beach Energy. The agreement aligns interests across three permits in the Northern Territory jurisdiction—NT/P82, NT/P85, and NT/P84—and one offshore Western Australia, WA-454-P, such that the two companies become 50-50 joint venture partners in each with Santos as operator.
Read MoreIOC inks term contract for US crude suppliesIndian Oil Corp. Ltd. has finalized a term contract to import as much as 3 million tonnes/year of crude oil from the US as part of the operator’s strategy to diversify its term crude sources. IOC finalized the contract—valued at $1.5 billion—on Feb. 15, the company said.
Read MoreProbert joins TransGlobe Energy as VP, COOGeoffrey Probert has agreed to join TransGlobe Energy Corp., Calgary, as vice-president and chief operating officer based in London. Probert has been North Africa managing director for Petroceltic and previously worked with Shell and BHP Billiton.
Read MoreHorse Hill field due horizontal drillingHorse Hill Developments Ltd. (HHDL) plans horizontal drilling this year at Horse Hill field, which is undergoing an extended production test near Gatwick Airport outside London, reports parent company UK Oil & Gas PLC.
Read MoreHenderson named Kosmos chief exploration officerTracey Henderson has been named chief exploration officer of Kosmos Energy Ltd., Dallas, succeeding founding partner Brian F. Maxted, who is retiring.
Read MoreMARKET WATCH: Oil price benchmarks end week on 3-month highBenchmark crude oil prices rose on New York and London markets by more than $1/bbl Feb. 15 to 3-month-high settlements following the Organization of Petroleum Exporting Countries report that cartel production dropped in January from December 2018.
Read MoreCanada, no haven for pipeline work, mulls freeze-outEnvironmental assessment can—dare a humble scribe say it?—go overboard. To be sure, the process is good and necessary. Business must be done and projects must be executed responsibly—meaning, at a minimum, without fouling nature or threatening health.
Read MoreWatching Government: Challenging emissions favoritismThe American Petroleum Institute and the Natural Gas Supply Association filed an amicus brief on Feb. 8 supporting a petition asking the US Supreme Court to overturn a federal appeals court’s finding that New York State’s Zero Emission Control (ZEC) program does not preempt federal authority by subsidizing certain forms of electric power generation.
Read MoreChevron inks deal to buy Petrobras’s Pasadena refineryChevron Corp. subsidiary Chevron USA Inc. has signed a share purchase agreement with Petroleo Brasileiro SA (Petrobras) subsidiary Petrobras America Inc. (PAI) to acquire all outstanding shares and equity interests of Pasadena Refining System Inc. (PRSI), which includes the refinery in Pasadena, Tex., and PRSI Trading LLC for $350 million, excluding working capital.
Read MoreExxonMobil adding crude unit at Beaumont refineryExxonMobil Corp. has reached a final investment decision to proceed with a previously announced plan to expand crude refining capacity by more than 65% at its 366,000-b/d integrated refining complex in Beaumont, Tex.
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