US shale companies expect to deliver an average of 15% growth in oil production in 2019 vs. 2018. At the same time, operators say they will cut capital spending by 5% this year. Rystad Energy has analyzed the recently released earnings reports for the fourth quarter of 2018 from 45 US operators, which also included […]

Bayport Polymers (Baystar)—an equal joint venture of Total’s Total Petrochemicals & Refining USA and the Borealis-Nova Chemicals JV Novealis Holdings—has started construction of its previously announced Borstar Bay3 project at its production site in Pasadena, Tex. Source: News

BP PLC has let a contract to TechnipFMC for the engineering, procurement, construction, installation, and commissioning of a floating production, storage, and offloading unit to be deployed offshore on the maritime border of Mauritania and Senegal, moving forward Phase 1 of the Greater Tortue Ahmeyim natural gas project. The award is a continuation to the […]

ExxonMobil Corp. will build a polypropylene unit at its facility at Baton Rouge that will expand production capacity along the US Gulf Coast by as much as 450,000 tonnes/year. Construction on the project—which will create as many as 600 jobs during the build and 65 permanent jobs once completed—will begin later this year, with the […]

Crude oil prices on futures markets in New York and London closed February on 3-month highs with the light, sweet crude oil contract for April settling above $57/bbl on Feb. 28 while the Brent April contract settled above $66/bbl. Analysts agreed crude prices are being supported by 2019 production cuts as promised in December 2018 […]

Nord Stream 2, the controversial gas pipeline between Russia and Germany, advanced a step in Europe during February—but only a step.   Source: News