Two subcontracts to support development of the floating production unit on Woodside Petroleum group’s proposed Scarborough gas field development on the Exmouth Plateau off Western Australia have been signed by SNC Lavalin, which will provide front-end engineering design support for the semisubmersible hull and mooring system as well as model testing scoping and supervision and […]
Oxy, Anadarko merger moves to approvals phase
A deal to combine Anadarko Petroleum and Occidental Petroleum is moving to the approvals phase. Anadarko on May 9 entered into a definitive merger agreement with Oxy following the termination of its previously announced merger agreement with Chevron. Anadarko paid a termination fee of $1 billion to Chevron. Source: News
HPCL Rajasthan lets contract for proposed Barmer refining complex
HPCL Rajasthan Refinery, a 74-26% joint venture of Hindustan Petroleum and the state government of Rajasthan, has let a contract to Chevron Lummus Global—a partnership of Chevron USA and McDermott International—to provide process technology for a coking unit at the JV’s planned 181,000-b/d integrated refinery and petrochemical complex now under construction at Pachpadra Tehsil, Barmer […]
Louisiana dedicates Lake Charles petrochemical complex
Lotte Chemical USA and Westlake Chemical have completed their long-planned $3.1-billion grassroots petrochemical project in southwest Louisiana. The state of Louisiana alongside Lotte and Westlake officials held a dedication ceremony for the completed petrochemical complex—including its more than 1 million-tonne/year ethane cracker and 700,000-tpy monoethylene glycol plant—on May 9. Source: News
ExxonMobil unit lets contracts for Liza Unity FPSO off Guyana
An affiliate of ExxonMobil Corp. let contracts for the next phase of the Liza project offshore Guyana to SBM Offshore, which will construct, install, lease, and operate for up to 2 years the Liza Unity floating production, storage, and offloading vessel. Source: News
Indonesia opens 2019’s second license round
The government of Indonesia has opened the year’s second oil and gas licensing round, in which two of four blocks on offer were part of the earlier round, the Jakarta Post reports. Oil production has occurred on one of the blocks, West Kampar on the border of Riau and North Sumatra provinces. The other blocks, […]
MARKET WATCH: Crude oil benchmarks settle mixed on US-China relations
Brent crude oil for July gained modestly to settle for a second consecutive day above $70/bbl on the London market May 9, but light, sweet crude oil prices fell in New York to settle under $62/bbl. US and China resumed trade talks May 9-10 in Washington, DC, while US President Donald Trump’s administration implemented new […]
Refiners likely to add 7 million b/d in global capacity through 2023
Imbalance between proposed new capacity and anticipated demand will deteriorate economics for most refining projects, leading to cancellation or postponement of all but the most compelling and best funded. Source: News
Flores and Welch reintroduce bill to limit ethanol quotas under RFS
US Reps. Bill Flores (R-Tex.) and Peter Welch (D-Vt.) reintroduced legislation on May 7 which would limit ethanol quotas under the Renewable Fuel Standard to 9.7% of the total gasoline volumes projected to be sold in the coming year. Source: News
Eni sees more potential in Ghana strike
Eni said a natural gas and condensate discovery offshore Ghana has gas and oil potential requiring further drilling. Source: News