MarkWest Liberty NGL Pipeline LLC, a subsidiary of MPLX LP, has launched a binding open season to solicit commitments from potential shippers for a proposed pipeline to serve Appalachian producers. Source: News
EIA: US crude inventories decrease 5.3 million bbl
US crude oil inventories, excluding the Strategic Petroleum Reserve, decreased by 5.3 million bbl for the week ended Sept. 7, according to data from the US Energy Information Administration. At 396.2 million bbl, US crude oil inventories are about 3% below the 5-year average for this time of year, the report indicated. Source: News
OMV, Sapura Energy eye strategic link-up
OMV AG would acquire 50% of Sapura Upstream Sdn. Bhd. under a heads of agreement it has entered with parent Sapura Energy Bhd., Seri Kembangan, Malaysia, to form a strategic partnership. The proposed transaction has an enterprise value of $1.6 billion, according to Sapura Energy, an integrated oil and gas services provider and sole owner […]
Gazprom Neft, CNPC set oil-recovery study
Gazprom Neft and China National Petroleum Corp. will study feasibility of surfactant flooding of Sutorminskoye oil field in Russia’s Yamal-Nenets Autonomous Area as a first step under a new technical partnership. The companies agreed to develop and adopt advanced techniques for increasing oil recovery, including polymer and surfactant injection. Source: News
Ecuador opens onshore licensing round
Ecuador’s government has opened bidding for exploratory rights to eight onshore blocks in the Oriente basin. The blocks, offered under production-sharing terms, are labeled Charapa, Chanangue, Perico, Iguana, Sahino, Panayacu Norte, Espejo, and Araza Este. All are near established oil and gas fields in Sucumbios Province. Source: News
MARKET WATCH: NYMEX crude surpasses $69/bbl on tropical weather threats
Light, sweet crude oil and Brent crude oil prices jumped by more than $1.60/bbl on Sept. 11 while market participants monitored tropical weather systems headed toward the US East Coast and possibly the Gulf of Mexico. Tropical Storm Isaac could aim at Texas later this week although that system appeared to be fading as of […]
US chemical investments linked to affordable gas surpass $200 billion
US chemical and plastics industry investments linked to plentiful and affordable supplies of natural gas and natural gas liquids from shale formations has surpassed $200 billion, the American Chemistry Council said. “This is an exciting milestone for American chemistry and further evidence that shale gas is a powerful engine of manufacturing growth,” said ACC Pres. […]
EPA proposes changes in 2016 production emissions control rules
The US Environmental Protection Agency proposed changes in its 2016 New Source Performance Standards for the oil and gas industry that it said would streamline implementation, reduce duplicative EPA and state requirements, and decrease unnecessary burdens for producers. The targeted improvements package is expected to save as much as $484 million in regulatory costs from […]
Lukoil adds steam capacity at Yarega field
Lukoil has commissioned a steam-generation complex at Yarega heavy-oil field in the Republic of Komi in Russia, where first-half production was up 77% over the comparable period of 2017. The company said output in the first 6 months totaled 761,000 tonnes of highly viscous oil. Source: News
Pengrowth: Lindbergh flow tops 18,000 b/d
Bitumen production at Pengrowth Energy Corp.’s Lindbergh thermal oil project in the Lloydminster fairway of Alberta’s Cold Lake area has exceeded 18,000 b/d of bitumen, the company reported. Although three of eight infill wells drilled this year are on pump and starting to produce, output will decline by 40% briefly for maintenance. Source: News