The natural gas agreement for the $13-billion Total SA-operated Papua LNG (Elk-Antelope) project in the Eastern Highlands of Papua New Guinea is likely to be signed on Apr. 5, according to the country’s Prime Minister Peter O’Neill. He made the announcement when giving the opening address to the Papua New Guinea Petroleum & Energy Summit […]
MARKET WATCH: NYMEX crude oil moves above $60/bbl
Light, sweet crude oil for May delivery increased just shy of $1 to settle above $60/bbl on Mar. 20. Government data Mar. 20 indicated a tightening of US oil supplies, pushing the price past the $60/bbl mark for the first time since Nov. 9, 2018. Analysts expected a small drawdown in supplies, but the US […]
Williams, CPPIB form Marcellus-Utica midstream venture
Williams Cos. has entered into a long-term partnership with Canada Pension Plan Investment Board to establish a $3.8-billion joint venture that will include Williams’ wholly owned Ohio Valley Midstream system and 100% of the Utica East Ohio Midstream system. CPPIB will invest about $1.34 billion for a 35% ownership stake in the venture. Williams will […]
Region-wide gulf lease sale yields $244.3 million in high bids
The latest region-wide Gulf of Mexico lease sale, held Mar. 20 in New Orleans by the US Bureau of Ocean Energy Management, generated $244.3 million in apparent high bids for 227 tracts. There were a total of 14,699 tracts offered in the gulf’s federal waters. Source: News
Oil & Gas UK estimates $265 billion of UKCS E&P investment needed by 2035
Oil & Gas UK estimates exploration and production companies would have to spend about $265 billion between 2019-35 to realize industry’s expectations outlined in Vision 2035 on the UK Continental Shelf. Vision 2035 is a framework for the UKCS led by Oil & Gas UK and the Oil & Gas Authority. Source: News
EPA starts to prioritize 40 chemicals under the amended TSCA
The US Environmental Protection Agency published a list of 40 chemicals on Mar. 20 that it intends to review and prioritize for risk evaluation under the amended Toxic Substances Control Act (TSCA). It said it was releasing the list to give the public opportunities to submit relevant information such as the uses, hazards, and exposure […]
ESAI: Project delays to sink oil sands output in 2019
Canadian oil sands production in 2019 will be almost 230,000 b/d lower than last year, according to ESAI Energy’s recently published North America Watch. Planned Canadian oil sands projects are being pushed back in response to further delays in pipeline egress and the mandated output cuts by the Alberta provincial government. Source: News
Nuevo Midstream to acquire Republic Midstream
Nuevo Midstream Dos plans to expand a crude oil gathering, storage, and intermediate transportation system in the Eagle Ford shale following completion of a deal to acquire Republic Midstream from an affiliate of ArcLight Capital Partners. Source: News
PTTEP starts developing fields in Algeria
PTT Exploration & Production plans to drill 14 wells in the initial development of its Hassi Bir Rekaiz cluster of oil fields in eastern Algeria. The company said it has begun development after receiving development approval last year for a 25-year production period. Source: News
Construction wraps on Sasol’s Louisiana petchem complex
The joint venture of Fluor and TechnipFMC has completed delivery of engineering, procurement, and construction management services on Sasol’s long-planned Lake Charles Chemicals Project, an integrated ethane cracker and downstream derivatives in Westlake, La., near Lake Charles. Source: News