Sharjah in 2018 became the latest United Arab Emirates monarchy to offer licensing rounds, seeking international partners for exploration and development. The offer follows licensing rounds by Abu Dhabi and Ras al Khaimah (RAK). Source: News
Rystad: US sanctions on Venezuela will be weaker than expected
US sanctions against Venezuelan state oil company Petroleos de Venezuela SA (PDVSA) will deal a meaningful blow to President Nicolas Maduro’s administration’s cashflow, but the effects will not be as harsh as the US expects, according to Rystad Energy. Source: News
Innovation vital to ongoing US energy strength, group leaders say
The innovative spirit that has created a much-improved US energy outlook in the last 10 years will be just as essential to keep it affordable while improving the environment in the future, three major trade association leaders suggested at the US Energy Association’s 2019 State of the Energy Industry Forum on Jan. 24. Source: News
Regulatory reforms draw cheers; shutdown and tariffs raise concerns
The Trump administration is following through on its promise to reform federal regulations enacted during Barack Obama’s presidency that went too far, officials from leading US oil and gas associations told Oil & Gas Journal. But a prolonged partial government shutdown and tariffs or quotas on specialty steel imports could cloud the 2019 Washington Oil […]
'Remarkable month'
In proponents of a quick switch by the US to carbon-free forms of energy, new data on recent and future oil and gas supply might induce squirming. Reality will do that. Source: News
Change in risk preferences
A survey of institutional investors by the Oxford Institute for Energy Studies (OIES) was conducted in July-October 2018. Source: News
WoodMac: Exploration is ‘back in the black’
After a difficult few years, the exploration business is back in the black—and keen to stay there. New analysis from Wood Mackenzie shows that exploration companies’ successes in 2018 reflect a disciplined approach that’s set to continue this year. Source: News
Oxy awarded onshore Block 3 in Abu Dhabi
Occidental Petroleum Corp. will invest $244 million, including a participation fee, in exploration of onshore Block 3 in Abu Dhabi. Abu Dhabi National Oil Co. awarded the 5,782-sq-km block as part of its competitive bidding round launched in April 2018. The block is in the Al Dhafra region near Shah, Asab, Haliba, and Sahl fields. […]
Companies exercise options in Epic crude, NGL pipelines
Noble Midstream Partners LP has exercised its option for a 30% equity stake in the Epic Crude Oil Pipeline project and a 15% equity stake in the Epic NGL pipeline while Altus Midstream Co., through a subsidiary, and Rattler Midstream LP, a subsidiary of Diamondback Energy Inc., exercised options for 15% and 10%, respectively, in […]
Texas Colt submits application for deepwater port project
Texas Colt—a proposed joint venture of Enbridge Inc., Kinder Morgan Inc., and Oiltanking—has submitted an application with the US Maritime Administration to construct and operate a deepwater crude oil export port offshore Freeport, Tex. Source: News