Thai operator wraps revamp of idled Louisiana ethane cracker

Indorama Ventures Olefins, an indirect subsidiary of Thailand’s Indorama Ventures, has achieved mechanical completion of its previously announced project to renovate and restart a dormant ethane cracker in Westlake, La., just west of Lake Charles in Calcasieu Parish. Source: News


MARKET WATCH: NYMEX oil prices hovering around $62/bbl

Light, sweet crude oil for June delivery gained 13¢ to settle at $61.94/bbl on the New York market May 3 while the July contract added 14¢ to settle at $62.04/bbl. Despite the slight rise for the trading session, US oil futures prices fell for the week for a second consecutive week. Source: News


ExxonMobil finances Liza Phase 2 development offshore Guyana

ExxonMobil Corp. has financed the Liza Phase 2 development offshore Guyana after receiving government and regulatory approvals. Liza Phase 2 will produce as much as 220,000 b/d, and ExxonMobil forecasts the Stabroek block will produce more than 750,000 b/d by 2025. Source: News


Baker Hughes: US rig count remains below 1,000 units

The US drilling rig count fell 1 unit, remaining below 1,000, reaching 990 rigs working for the week ended May 3, according to Baker Hughes data. The count is down 42 units from the 1,032 rigs working this time a year ago. Source: News


Eni in agreement to explore off Bahrain

Eni SPA has entered an exploration and production-sharing agreement with the National Oil and Gas Authority for Block 1 offshore Bahrain. The company had signed a memorandum of understanding envisioning the agreement in January. Source: News


Eni-ETAP venture starts photovoltaic work

A partnership of Eni SPA and state oil enterprise ETAP has begun construction of a 10-Mw photovoltaic plant in the Tataouine governate in southern Tunisia. The partnership won a public tender for the project. Source: News


Oil Search completes Muruk-2 appraisal well in PNG highlands

Oil Search Ltd., Port Moresby, has plugged its Muruk-2 appraisal well in petroleum development licence 9 (PDL9) in the Southern Highlands of Papua New Guinea following an extended test program. Source: News


ExxonMobil outlines Baytown chemical plant expansion

ExxonMobil Corp. is planning a $2-billion investment to expand its Baytown, Tex., chemical plant. Scheduled for startup in 2022, the expansion will include a performance polymer unit that will produce about 400,000 tonnes/year of Vistamaxx polymers, ExxonMobil said. Source: News


MARKET WATCH: NYMEX oil prices fall on rising crude supplies

Light, sweet crude oil for June delivery dropped by nearly $1.80 to $61.81/bbl on the New York market May 2 while the Brent contract for July dropped by more than $1.40 to settle at $70.75/bbl in London. Crude on the New York market fell to the lowest settlement price since Apr. 1, having declined five […]