EIA STEO: Global liquids supply to rise 2.1 million b/d in 2018

Production of crude oil from the Organization of Petroleum Exporting Countries averaged 32.5 million b/d in 2017, a 200,000-b/d decrease from 2016 levels, and OPEC oil production will average 32.7 million b/d in 2018, according to the US Energy Information Administration’s latest Short-Term Energy Outlook. Source: News

Atlantic Coast Pipeline gets Virginia water permit, but with delay

Virginia’s water control board has approved a water quality certification for the proposed Atlantic Coast natural gas pipeline in a 4-3 vote on Dec. 12, but it was not effective immediately. The commonwealth’s Department of Environmental Quality plans to complete additional studies dealing with soil and erosion control and stormwater management plans first, a DEQ […]

Oasis Petroleum expands into Delaware basin with $946-million acquisition

Oasis Petroleum Inc. will expand its operations into the Delaware basin through the acquisition of assets from Forge Energy LLC for $946 million. The deal, which includes a $483-million cash payment and 46 million shares of common stock, is effective Dec 1.  Source: News

OPEC production fell in November from October

The Organization of Petroleum Exporting Countries raised its production forecast for non-OPEC oil output, particularly from US unconventional plays for 2017-18. The cartel also said its November oil production, as estimated by secondary sources, averaged 32.45 million b/d, a drop of about 133,000 b/d from October.  Source: News

Phillips 66, Enbridge hold Permian crude pipeline open season

Phillips 66 and Enbridge Inc. are holding an open season for the Gray Oak Pipeline, a 385,000-b/d system that will carry Permian basin production for export and to Texas refineries in Corpus Christi, Freeport, and Houston. Shippers will have the option to select from origination stations in Reeves, Loving, Winkler, and Crane counties in West […]

BP Oman lets contract for second Khaazan gas plant

BP Oman has let a lump-sum turnkey contract to Petrofac Ltd. of the UK to deliver engineering, procurement, construction, and commissioning services for a second-phase central processing plant as part of the Phase 2 (Ghazeer) gas development in Oman’s Khazzan field.  Source: News

US House bills introduced aimed at easing LNG exports

A pair of bills have been introduced designed to facilitate US exports of LNG. H.R. 4605 would let exporters begin shipments after completing the US Federal Energy Regulatory Commission’s review process instead of requiring them to wait for US Department of Energy approval. H.R. 4606 would codify DOE’s efforts to begin exports of small volumes […]

PSA: Eni Norge can restore Goliat production

Eni Norge can restore Goliat field in the Barents Sea to full production, the Norwegian Petroleum Safety Authority (PSA) said. Source: News

BKV to buy more Marcellus shale assets

An affiliate of BKV Oil & Gas Capital Partners LP, Denver, has entered an agreement to expand its leasehold in the Marcellus shale in Pennsylvania. Source: News