Second-phase development of Johan Sverdrup oil field in the Norwegian North Sea has been approved. The Norwegian Ministry of Petroleum and Energy approved Equinor’s plan for development and operation covering a new processing platform, modifications of the first-phase riser platform, five subsea systems, and preparations for power supply from shore to the Utsira High area […]
MARKET WATCH: Brent crude gains on US-Iran tensions
Light, sweet crude oil prices gained modestly to approach $62/bbl on the New York market by the May 14 settlement while the Brent contract for July gained $1/bbl to settle above $71/bbl for the first time in five trading sessions. Source: News
IGU: Global LNG imports rose 40% in 2018 vs. 2017
Continued growth in US Henry Hub-priced LNG exports and a general rise in spot LNG cargoes led to the highest year-to-year increase ever in total global LNG imports during 2018, the International Gas Union said as it released its 2019 Wholesale Gas Price Survey on May 13 in Barcelona. Source: News
Jadestone complete Stag oil field infill well
Jadestone Energy Inc., Singapore, has reported the completion of its infill drilling program in Stag oil field in the Carnarvon basin offshore Western Australia. Source: News
Eni group finds more light oil off Angola
Eni SPA said the fourth oil discovery in the exploration program it started with partners in mid-2018 on Block 15/06 offshore Angola has production capacity exceeding 10,000 b/d of light oil. Source: News
Blackrock well cuts thin oil sands off UK
The Blackrock exploration well 204/5b-2 in the West of Shetlands area proved the existence of intravolcanic charged reservoirs between undeveloped Cambo and Rosebank oil fields, reports Siccar Point Energy, the operator. The Diamond Ocean GreatWhite semisubmisersible rig drilled the well in 1,115 m of water 10 km north of Cambo field. Source: News
Mozambique grants approval for Rovuma LNG project
ExxonMobil and its Mozambique Rovuma Venture partners have received approval from the government of Mozambique for the joint venture’s development plan for Rovuma LNG, which will produce, liquefy, and market natural gas from three reservoirs in the Area 4 block offshore Mozambique, two of which straddle the boundary with neighboring Area 1. Source: News
Meridian lets contract for Davis refinery
Meridian Energy Group Inc. has let a contract to Emerson Electric Co., St. Louis, to provide automation control systems and technologies for the operator’s grassroots 49,500-b/sd high-conversion Davis refinery to be built in Billings County in the heart of southwestern North Dakota’s Bakken shale region. Source: News
China raises US LNG import tariffs to 25%
In retaliation for the US increasing the tariff on $200 billion in Chinese goods to 25% from 10%, which took effect May 10, China reported May 13 it will assess a 25% tariff on US LNG starting June 1—an increase from the 10% level instituted in September. Source: News
Petrobras lets contract for Sepia field project
Petroleo Brasileiro SA (Petrobras) has let a contract to McDermott International Inc. for subsea risers and flowlines for the first phase of Sepia field, 174 miles offshore Rio de Janeiro. The first phase is part of a 15-well Sepia field development in the presalt layer of the Santos basin on Block BM-S-24. Start of oil […]