MARKET WATCH: NYMEX crude oil rally on lower US oil inventory

Light, sweet crude oil prices gained July 12 on the New York market after the US Energy Information Administration reported US crude oil supplies fell by 7.6 million bbl for the week ended July 7. Source: News


Gasunie, Oiltanking, Vopak study building Germany’s first LNG import terminal

Gasunie LNG Holding BV, Oiltanking GMBH, and Vopak LNG Holding BV have received approval under the European Union Merger Regulation to establish a joint venture for owning and operating a 2-3 million tonne/year LNG terminal in northern Germany. The import terminal would be Germany’s first. Source: News


Seismic survey uncovers hydrocarbon potential off Timor Leste

Preliminary evaluation of data obtained by the 2016 Crocodile 3D seismic survey off the southeast tip of Timor Leste indicates the presence of more than 30 individual closed seismic structures at three geological levels—Jurassic, Triassic, and Permian—which are frequently stacked vertically and seen in 17 geographically distinct locations. Source: News


Hengli lets contract for polypropylene unit at Dalian complex

Hengli Petrochemical (Dalian) Co. Ltd. (HPDC) has let a contract to W.R. Grace & Co. to provide polypropylene (PP) technology and associated polyolefin catalyst supply for a PP unit to be built at its integrated 20 million-tonne/year crude-to-paraxylene refining and petrochemical project in Hengli Petrochemical Industrial Park (HPIP) on Changxing Island in Dalian, Liaoning Province, […]


Talos discovers oil with Zama-1 well offshore Mexico

Talos Energy LLC’s Zama-1 well has discovered an 1,100-ft contiguous gross oil-bearing interval on Block 7 about 37 miles offshore the Port of Dos Bocas, Mexico. Source: News


Gazprom Neft progresses with Omsk refinery modernization

PJSC Gazprom Neft has completed installation of major equipment for a 2 million-tonne/year deep refining complex currently under construction as part of an ongoing modernization and upgrading program to reduce environmental impacts as well as improve processing capacities, conversion rates, energy efficiency, and production qualities of at its 21.4 million-tpy Omsk refinery in Western Siberia. […]