LLOG Exploration Co. LLC, Covington, La., has let a contract to McDermott International Inc. for deepwater subsea pipeline tiebacks and structures from the Stonefly development to the Ram Powell platform 140 miles southeast of New Orleans. Source: News
Eni, OMV buying ADNOC Refining interests
Eni SPA and OMV AG will buy interests in ADNOC Refining at prices that Abu Dhabi National Oil Co. said establishes the enterprise value of its refining subsidiary, with its 922,000-b/d of refining capacity, at $19.3 billion. Eni will acquire a 20% interest for about $3.3 billion after deduction of net debt and adjustments, making […]
MARKET WATCH: NYMEX, Brent oil prices end week with gain
Light, sweet crude oil prices rose on the New York market Jan. 25 as did Brent crude oil prices in London while analysts contemplated Venezeula’s geopolitics and its contribution to world oil markets given an ongoing presidential power struggle in that nation. Source: News
With terminals open, trouble in Libya shifts to oil field
Just when an oil-production breakthrough began to seem possible in beleaguered Libya, trouble shifted from terminals to oil fields. Source: News
EIA: US to become net energy exporter in 2020
The US will position itself as a net energy exporter in 2020 and will remain so throughout a projection period to 2050 resulting from large increases in production of crude oil, natural gas, and natural gas plant liquids (NGPL) coupled with slow growth in energy consumption, according to the US Energy Information Administration’s Annual Energy […]
Baker Hughes: US rig count climbs 9 units to 1,059
The US drilling rig count is up 9 units to 1,059 rigs working for the week ended Jan. 25, according to Baker Hughes data. The count is up 112 units from the 947 rigs working this time a year ago. Source: News
Oil Search expands east of Hue shale blocks in Alaska
Oil Search Ltd., Sydney and Port Moresby, has again expanded its acreage position on the Alaskan North Slope (ANS) by exercising an option to acquire 50% interest in 120 leases immediately east of its Hue shale blocks, which lie southeast of Prudhoe Bay. The option includes Oil Search taking operatorship. Source: News
BPTT lets contract for Cassia compression project
BP Trinidad & Tobago LLC (BPTT) has let a contract to McDermott International Inc. for the engineering, procurement, and construction of the Cassia compression platform, 57 km southeast offshore Trinidad and Tobago. Source: News
WBI Energy to construct Bakken gas transportation project
MDU Resources Group subsidiary WBI Energy Inc. plans to construct 67 miles of pipeline, compression, and ancillary facilities to transport natural gas in the Bakken region. The North Bakken Expansion Project, as designed, would provide 200 MMcfd of gas transportation capacity starting near Tioga, ND, and extending to a new connection with Northern Border Pipeline […]
Innovation vital to ongoing US energy strength, trade group leaders say
The innovative spirit that has created a much-improved US energy outlook in the last 10 years will be just as essential to keep it affordable while improving the environment in the future, three major trade association leaders suggested at the US Energy Association’s 2019 State of the Energy Industry Forum on Jan. 24. Source: […]