The US Department of the Interior announced plans to hold a Gulf of Mexico region-wide oil and gas lease sale on Aug. 15 offering 77.3 million acres offshore Texas, Louisiana, Alabama, Mississippi, and Florida. Lease Sale 251, which would include all unleased areas in the gulf, would be the third held under the 2017-22 federal […]

The sponsor of an Alaska LNG export terminal at Nikiski and cross-state pipeline from Prudhoe Bay selected Bank of China and Goldman Sachs as global capital coordinators for the multibillion-dollar project. The two investment banks will assist Alaska Gasline Development Corp. in raising equity and debt financing.   Source: News

Light, sweet crude oil prices for May delivery gained by more than 50¢ to approach $65/bbl on the New York market Mar. 29 during the holiday-shortened week that ended the first quarter of 2018. Source: News

Global refiners are facing the need to modify their product slate to conform to increasingly strict environmental regulations by 2020 for fuel oil burned at sea. Chevron Lummus Global examines a series of revamp options available to refiners to meet the International Maritime Organization’s new bunker fuel regulations while maximizing the economic benefits of their […]

India’s state-owned Bharat Petroleum Corp. Ltd. (BPCL) has let a contract to Petrofac Ltd. to provide engineering, procurement, and construction services for a project to increase production of Bharat Stage 6-quality fuels (equivalent to Euro 6) at its refinery near Kochi, at Ambalamugal, Ernakulam district, in the Indian state of Kerala. Source: News