Spraberry-Wolfcamp results boost PNR’s 2016 output growth target

Pioneer Natural Resources Co. says it expects 2016 production growth of more than 12% compared with the company’s previous target of 10%, reflecting improving Spraberry-Wolfcamp well productivity. Second-quarter production is forecast to average 224,000-229,000 boe/d. Source: News

ADNOC opens Shah sour gas plant

Abu Dhabi National Oil Co. (ADNOC) subsidiary Abu Dhabi Gas Development Co. (Al Hosn Gas) and joint-venture partner Occidental Petroleum Corp. have formally commissioned the Al Hosn Sour Gas Development Project (SGDP) at Shah sour gas-condensate onshore field, southwest of Abu Dhabi City, UAE. Source: News

Petro Rabigh commissions expanded ethylene unit

Rabigh Refining & Petrochemical Co. (Petro Rabigh), a joint venture of Saudi Aramco and Sumitomo Chemical Co., has completed mechanical works for a project designed to increase ethylene capacity at Petro Rabigh’s refinery and chemicals complex in the port city of Rabigh on the Red Sea. Source: News

EIA: LNG exports to be the driver of Canadian gas production growth

The US Energy Information Administration reported that Canada’s National Energy Board (NEB), in a recent publication projects that both Canada’s natural gas production and consumption will increase through the next decade. Source: News

BP posts $583-million first-quarter loss

BP PLC reported a loss of $583 million for this year’s first quarter compared with a $2.6-billion profit in the same quarter in 2015. The company reported an underlying replacement cost profit of $532 million for this year’s first quarter compared with a profit of $196 million for the previous quarter and a profit of […]