US crude oil inventories for the week ended May 17, excluding the Strategic Petroleum Reserve, increased by 4.7 million bbl from the previous week, according to data from the US Energy Information Administration. Source: News
Total’s Leuna refinery operating at reduced rates
Total SA subsidiary Total Raffinerie Mitteldeutschland GMBH has halted operations of some units at its 241,000-b/d Leuna refinery in Germany following contamination issues resulting from supplies of Russian crude oil volumes. Source: News
Wintershall Dea installs Nova templates
Wintershall Dea has installed the two subsea templates anchoring development of Nova oil field in the Norwegian North Sea. The Subsea 7 Seven Arctic vessel transported the 300-tonne units 45 km from Floro, Norway, to the field and lifted them by crane into 370 m of water. Aker Solutions built the templates at Egersund, Norway. […]
Aramco, Sempra sign largest LNG deal in 6 years
Sempra Energy and Saudi Aramco announced their respective subsidiaries—Sempra LNG and Aramco Services Co.—have signed a heads of agreement that anticipates the negotiation and finalisation of a definitive 20-year sale-and-purchase agreement covering 5 million tonnes/year of LNG from the Port Arthur export project under development. Source: News
BHP considers conventional oil attractive for decades
BHP said its conventional oil assets look to be attractive investments “for several decades,” particularly its holdings offshore Mexico and offshore eastern Canada. During an operations update, BHP executives said the company expects to spud an appraisal well on Trion in late December with earliest production expected in the mid 2020s. BHP is the operator […]
Dana Gas spuds Merak-1 wildcat off Egypt
Dana Gas PJSC, Sharjah, has spudded a deepwater wildcat on its North El Arish concession area offshore Egypt. The company says the Merak-1 well is on one of three prospects it describes as “world class” in the area, also known as Block 6. Source: News
Vintage farms in to Queensland Cooper basin permit
Vintage Energy Ltd., Adelaide, has agreed to farm in to a 50% interest in Sydney-based Metgasco’s Queensland exploration permit ATP 2021 in the Cooper basin. Vintage will earn its share and take over as operator by paying a substantial share of future drilling and development costs as well as reimbursing Metgasco’s costs to date. […]
APLNG okay to buy Ironbark CSG project
The Origin Energy-operated Australia Pacific LNG group has obtained permission to acquire Origin’s undeveloped Ironbark coal seam gas project in permit ATP 788P in Queensland. The Australian Competition and Consumer Commission said it would not oppose the transaction, first mooted by Origin in February with a sale price of $231 million (Aus.). Source: News
Sale an option in CVR Energy review
CVR Energy Inc., Sugar Land, Tex., has designated Bank of America Merrill Lynch its financial advisor for a review of strategic alternatives, which might include sale of the company. A subsidiary, CVR Refining LP, operates a 132,000-b/cd refinery at Coffeyville, Kan., and a 74,500-b/cd refinery at Wynnewood, Okla. Source: News
MARKET WATCH: NYMEX oil price hovers at $63/bbl
Light, sweet crude oil prices fell slightly May 21 as the contract continues to hover at $63/bbl on the New York market while Brent crude oil prices gained modestly with the July contract settling above $72/bbl. Source: News