Crude oil prices retreated on both the New York and London markets Oct. 4 with light, sweet crude prices dropping about $2/bbl while Brent crude price prices dropped about $1.70/bbl, which analysts attributed to volatility in US equity and bond markets. Source: News
Michigan in new agreement for Enbridge to replace Line 5 in Straits
Enbridge Inc. will shut down and replace its Line 5 across the Straits of Mackinac with a multi-use utility tunnel that the Calgary energy transmission company will pay for, Michigan Gov. Rick Snyder (R) announced. Source: News
Williams to place Atlantic Sunrise gas pipeline into full service
Williams Cos. received US Federal Energy Regulatory Commission approval to place its Atlantic Sunrise natural gas project into full service. The company plans to do so Oct. 6, 2018. Source: News
Map Ta Phut Olefins lets contract for cracker debottlenecking, expansion
Map Ta Phut Olefins Co. Ltd. (MOC), a joint-venture of Siam Cement Public Co. Ltd. subsidiary SGC Chemicals Co. Ltd. and Dow Chemical Co., has let a contract to McDermott International Inc. to provide process technology for the upgrade and expansion of an existing olefins cracker at MOC’s petrochemical plant in Rayong Province, Thailand. Source: News
Cape Vulture appraisal well completed offshore Norway
Cape Vulture appraisal well was drilled in 372 m of water on license PL128/PL128D about 7 km north of the Norne floating production, storage, and offloading vessel in the northern Norwegian Sea, 180 km from the coast and 3.5 km north of the discovery well, said license partner Eni. Source: News
Eni Norge gets regulatory nod for Barents Sea exploration drilling
Norway’s Petroleum Safety Authority (PSA) has granted Eni Norge AS consent for exploration drilling in two blocks in the Barents Sea. Source: News
RockRose acquires Dyas’s Dutch interests
RockRose Energy PLC, London, has acquired Dyas BV and Dyas Infrastructure BV, which hold the Dutch interests of Dyas, a subsidiary of SHV Holdings NV, Utrecht. Source: News
ONGC lets $1.7-billion Cluster-2 contract
State-owned Oil & Natural Gas Corp. has let a contract for combined subsea work on its KG-DWN-98/2 (“Cluster-2”) deepwater development off eastern India to a consortium of Baker Hughes, a GE company, McDermott International Inc., and L&T Hydrocarbon Engineering, a subsidiary of Larsen & Toubro. Source: News
MARKET WATCH: NYMEX crude for November settles above $76/bbl
Crude oil prices on both the New York and London markets jumped by more than $1/bbl Oct. 3. Traders appeared more focused on declining Iranian oil exports than a sharp build in US inventories. Source: News
Trump nominates Bernard L. McNamee to fill vacancy at FERC
President Donald J. Trump nominated Bernard L. McNamee, who presently is director of the US Department of Energy’s Policy Office, to the Federal Energy Regulatory Commission on Oct. 3. Source: News