Imperial Oil Ltd., Calgary, has let a contract to Babcock & Wilcox Enterprises Inc., Barberton, Ohio, to provide five industrial water-tube boilers for its Aspen oil sands project in Alberta. Source: News
MARKET WATCH: NYMEX, Brent crude prices jump $2/bbl
Crude oil benchmarks on markets in New York and London jumped to close more than $2/bbl higher Dec. 3 on news reports that Russia and Saudi Arabia are working toward an agreement to cut crude production in efforts to support oil prices. Source: News
Western Australia lifts fracing ban on existing leases
The Western Australian government has reported a lifting of the moratorium on hydraulic fracturing on existing petroleum exploration and production licenses in the state following the findings of an independent scientific inquiry. Source: News
Global refiners focus on upgrading, modernizing existing plants
The latest OGJ annual worldwide refining survey showed a readjustment in global refining capacity for the coming year, with onstream crude distillation capacity as of Jan. 1, 2019, to stand at just over 91.8 million b/d compared with 91.1 million b/d in 2018. Source: News
Worldwide oil, natural gas reserves exhibit marginal increases
Oil & Gas Journal’s annual look at worldwide proved oil and natural gas reserves shows marginal increases. OGJ data for oil reserves and production increasingly include natural gas liquids. Some countries’ gas reserves changed to dry gas reserves after adding NGL reserves explicitly into oil reserves. Source: News
Attention to octane
Two steps forward make no progress on a treadmill stuck in reverse. Still, US Reps. Bill Flores (R-Tex.) and John Shimkus (R-Ill.) deserve credit for recognizing that the Renewable Fuel Standards (RFS) program needs work. Source: News
Remembering an innovator
Raymond Plank made an impression on this editor at an event where the former chairman and chief executive officer of Apache Corp. never appeared. Source: News
ConocoPhillips completes Bayu-Undan infill program
The ConocoPhillips-led group at Bayu-Undan gas-condensate field in the Timor Sea reported the completion of its three infill well program under budget and ahead of schedule. The third and final well was brought on line Dec. 3. Source: News
EPA establishes fresh renewable fuel, biomass-based diesel quotas
The US Environmental Protection Agency established quotas on Nov. 30 for renewable fuels in 2019 and for biomass-based diesel in 2020. EPA said the conventional renewable fuel quota, which is met primarily by corn-based ethanol, will be maintained at 19 billion gal in 2019, while required advance biofuel volumes will climb by 630 million gal […]
ExxonMobil’s latest discovery off Guyana boosts Stabroek block resources
ExxonMobil Corp. has increased its estimated recoverable resource for the Stabroek block to more than 5 billion boe from 4 billion boe following further evaluation of previous discoveries and drilling of the Pluma-1 well offshore Guyana. The well, drilled to 16,447 ft in 3,340 ft of water by Noble’s Tom Madden drillship beginning on Nov. 1, […]