Chemoil settles federal charges involving renewable fuel credits

Chemoil Corp., a San Francisco-based motor fuels supplier, agreed to retire more than $71 million of renewable identification numbers (RIN) and pay a $27-million fine as a proposed settlement of federal charges that it violated renewable fuel credit procedures under the federal Renewable Fuel Standards, the US Department of Justice and Environmental Protection Agency jointly […]

Saudis more intent on downstream assets than oil prices, speaker says

Saudi Arabia’s national oil company appears more intent on continuing to secure refining and petrochemical assets worldwide for its crude oil than on cutting production to stabilize or increase oil prices, observed Jean-Francois Seznec, a Middle East studies adjunct professor at Johns Hopkins University’s School of Advanced International Studies (SAIS). Source: News

Gazprom gets survey permit for TurkStream gas pipeline

PJSC Gazprom has received a survey permit for two strings of the 63 billion-cu m TurkStream natural gas pipeline’s offshore section in Turkey’s territorial waters. Source: News

Lundin completes Barents Sea appraisal well

Lundin Norway AS, a subsidiary of Lundin Petroleum AB, has produced natural gas from Lower Triassic reservoir sections on its PL609 7220/11-3 A (Alta-3) reentry well in the southern Barents Sea. The well lies east of the Alta discovery, which is estimated to contain gross contingent resources of 125-400 MMboe. Source: News

North Sea Skipper appraisal results show heavier-than-expected oil

Independent Oil & Gas PLC (IOG) says a sample from its first appraisal well on the Skipper oil discovery of the northern North Sea indicates 11° gravity oil, “a significantly higher viscosity than expected.” Source: News

IEnova completes $1-billion purchase of Pemex’s stake in pipeline JV

Infraestructura Energetica Nova SAB de CV (IEnova), a Mexican subsidiary of Sempra Energy, San Diego, has completed its acquisition of Pemex Transformacion Industrial’s 50% equity interest in the Gasoductos de Chihuahua joint venture for $1.14 billion. Source: News

MARKET WATCH: Oil prices climb as OPEC considers production cut

Crude oil prices climbed for a second consecutive day on the New York and London markets Sept. 29 after the Organization of the Petroleum Exporting Countries said it was willing to consider cutting the cartel’s total production quota. Source: News