Blackstone pours capital into Midland, Delaware basin startups

Blackstone Energy Partners LP, an affiliate of multinational private equity firm Blackstone Group LP, has partnered with two other companies to target leaseholds and assets in the Midland and Delaware basins of West Texas and southern New Mexico. Source: News


Kentucky refinery implements rail transport system

Continental Refining Co. has expanded logistics for receiving and distributing petroleum products to and from its 5,985-b/d refinery in Somerset, Ky., by implementing the use of railcars linked to the Somerset Rail Park in Ferguson, Ky., along the Norfolk-Southern Railroad lines. Source: News


Chevron lets contract for FSO project offshore Thailand

Chevron Corp. let a $230-million lease and operations contract to MISC Offshore Floating Terminals for the FSO Benchamas 2 project in the Gulf of Thailand. MISC noted the contract marks its entry into the floating storage and offtake vessel business in Thailand. Source: News


MARKET WATCH: NYMEX oil price hovers around $47/bbl

The light, sweet crude oil price for October delivery gained modestly to settle above $47/bbl on the New York market Aug. 25. US futures prices have risen in 9 of the last 11 trading sessions. Source: News