The presidents of the American Petroleum Institute and American Fuel & Petrochemical Manufacturers expressed their concerns to US President Donald Trump about the Environmental Protection Agency possibly extending the 1 lb Reid Vapor Pressure (RVP) waiver to motor fuel with 15% ethanol. Source: News
Trump applauds European efforts to diversify sources of energy
US President Donald Trump applauded European nations’ efforts to diversify their sources of energy during his Sept. 25 address to the United Nations. “Reliance on a single foreign supplier can leave a nation vulnerable to extortion and intimidation. That is why we congratulate European states, such as Poland, for leading the construction of a Baltic […]
ADNOC lets contract for gas development expansion Phase 2
ADNOC LNG, a subsidiary of Abu Dhabi National Oil Co., has let a contract for the engineering, procurement, and construction of the second phase of its Integrated Gas Development Expansion (IGD-E) project to a consortium of Spain’s Tecnicas Reunidas and Abu Dhabi’s Target Engineering Construction Co. Source: News
Chevron, PTTEP make Bongkot, Erawan bids
Chevron Corp. and PTT Exploration & Production submitted the only bids for the expiring licenses of Bongkot and Erawan natural gas and condensate fields in the Gulf of Thailand, according to press reports. Source: News
EIA: US crude inventories increase 1.9 million bbl
US crude oil inventories, excluding the Strategic Petroleum Reserve, increased by 1.9 million bbl for the week ended Sept. 21, according to data from the US Energy Information Administration. At 396 million bbl, US crude oil inventories are about 2% below the 5-year average for this time of year, the report indicated. Source: News
Qatar Petroleum adds fourth train to LNG expansion
Qatar Petroleum (QP) is adding a fourth liquefaction train to the LNG expansion project it announced in 2017. When the expansion is complete, Qatar’s LNG production capacity will be 110 million tonnes/year, a roughly 43% increase from the current 77 million tpy. Source: News
BOEM proposes area-wide Gulf of Mexico lease sale
The US Bureau of Ocean Energy Management plans to offer 78 million acres in the Gulf of Mexico in a region-wide oil and gas lease sale, Deputy US Interior Sec. David Barnhart and BOEM Acting Director Walter D. Cruickshank jointly announced. The sale will include all available unleased areas there, they said on Sept. 25. […]
MARKET WATCH: Brent crude price hovers around 4-year high
The Brent crude oil contract for November gained moderately to approach $82/bbl on the London market Sept. 25, maintaining levels not seen since November 2014. US light, sweet crude for November delivery settled above $72/bbl on the New York market for a second day. Source: News
State Department releases draft SEIS for latest Keystone XL route
The proposed Keystone XL crude oil pipeline’s Mainline Alternative Route in Nebraska “would have no significant direct, indirect, or cumulative effects on the quality of the natural or human environments,” the US Department of State said in a draft supplemental environmental impact statement (SEIS). Source: News
API: US petroleum demand in August reached 20.8 million b/d
According the latest monthly statistics report from the American Petroleum Institute, US petroleum demand in August, led by motor gasoline, distillate, and refinery feedstocks, increased to 20.8 million b/d, up 250,000 b/d from July. This was the strongest demand for any month since August 2007 and reflected solid economic growth, industrial activity, and consumer confidence, […]