Lundin Petroleum submits Solveig development plans

Lundin Norway and its partners have submitted a plan for development and operation of Solveig field to the Norwegian Ministry of Petroleum and Energy, Lundin Petroleum AB reported. Previously, Solveig was known as Luno II field. During 2018, Lundin acquired Equinor’s 15% interest in PL359, aligning ownership interests of PL359 (Solveig) and PL338 (Edvard Grieg) […]


Sinochem lets contract for Quanzhou refinery ethylene project

Sinochem Quanzhou Petrochemical Co. has let a contract to a China-based joint-venture of John Wood Group PLC to provide engineering, procurement and construction management services for a 1 million-tonne/year ethylene expansion project at its 240,000-b/d refining complex at Quanzhou in southern Fujian Province, China. Source: News


Scotland delays frac policy clarification

Clarification of Scotland’s policy on hydraulic fracturing of oil and gas wells again has been delayed. In response to a parliamentary question, Energy Minister Paul Wheelhouse announced an 8-week public consultation on the completion method, beginning Apr. 21. The government earlier said it would inform Parliament of its position during the first quarter of this […]


Mubadala, Uzbekistan enter energy accords

Mubadala Investment Co. and the government of Uzbekistan have entered strategic agreements to cooperate in three energy areas, including oil and natural gas. Mubadala, Abu Dhabi’s strategic investment and development fund, also will work with the Uzbek government to identify partnership and investment opportunities in conventional power generation and renewable energy. Source: News


EIA: US crude inventories up by 2.8 million bbl

US crude oil inventories for the week ended Mar. 22, excluding the Strategic Petroleum Reserve, increased by 2.8 million bbl from the previous week, data from the US Energy Information Administration showed. At 442.3 million bbl, US crude oil inventories are about 2% below the 5-year average for this time of year, the report indicated. […]


MARKET WATCH: NYMEX crude oil price jumps more than $1/bbl

Light, sweet crude oil contracts for May and June delivery jumped more than $1/bbl on the New York market Mar. 26 on mixed signals about world oil supplies. The US Energy Information Administration was scheduled to release its weekly oil and products inventory on Mar. 27. Source: News


Fifth Eridu well in Iraq flows oil

Lukoil reported the fifth well in Eridu oil field on Block 10 in southern Iraq flowed more than 9,000 b/d of oil from Middle Cretaceous Mishrif pay. It plans further appraisal drilling and acquisition of 3D seismic data over the field and 2D seismic data over the southern and central parts of the 5,800-sq-km block, […]


CRS: Carbon tax could help US meet Paris accord’s GHG goals

A $25-50/tonne tax or fee on carbon emissions could help the US meet goals outlined in the United Nations’ 2016 Paris climate agreement, Congressional Research Service analysts concluded. But policymakers would face challenging decisions about how the new federal revenue would be distributed, CRS said in a report. Source: News


PetroRio becomes operator of Frade field offshore Brazil

PetroRio is now operator of Frade field, a heavy oil and gas field in Brazil’s Northern Campos basin, following the close of its acquisition of Chevron Brasil Upstream Frade. With the deal, PetroRio adds Chevron’s 51.74% stake in the concession to its pending agreement to acquire 18.26% from Frade Japao Petroleo, a joint-venture formed by […]


Prelude FLNG project ships first condensate cargos

Shell Australia’s Prelude floating LNG facilities in the Browse basin offshore Western Australia have produced and shipped their first cargo of condensate. The 116,000-dwt tanker Advantage Atom loaded the cargo last week. Source: News