The Texas Petro Index declined in November and December 2018 on the heels of 23 straight months of growth, in response to dramatic declines in crude oil prices in the last 2 months of the year. Posted prices for West Texas Intermediate crude declined from a monthly average of more than $67/bbl in October to […]
MARKET WATCH: NYMEX oil prices gain on Venezuela politics
Light, sweet crude oil prices gained on the New York market Jan. 24, which analysts attributed to geopolitics after US President Donald Trump recognized opposition leader Juan Guiado as interim president of Venezuela. Meanwhile, existing President Nicolas Maduro also claims leadership of Venezuela. Venezuela’s military on Jan. 25 supported Maduro. Source: News
CVR Refining lets contract for Wynnewood refinery
CVR Refining LP subsidiary Wynnewood Refining Co. LLC has let a contract to KBR Inc. to provide engineering and design services related to the service provider’s proprietary Solid Acid Alkylation Technology (K-SAAT) for the operator’s 74,500-b/d refinery in Wynnewood, Okla. Source: News
US Senate Democrats protest BOEM ongoing lease work during shutdown
Thirteen US Senate Democrats and Independent Bernard Sanders (Vt.) urged two Department of the Interior interim leaders to stop using Bureau of Ocean Energy Management employees to continue preparing upcoming federal offshore oil and gas lease sales during the partial government shutdown. Source: News
Lukoil’s fourth Eridu well confirms model
Lukoil said testing of its fourth well in Eridu oil field on Block 10 in southern Iraq confirmed the geologic model. The discovery well, Eridu 1, flowed on test during early 2017 at more than 8,000 b/d of oil from the Middle Cretaceous Mishrif formation. Source: News
OVL tests second strike on Colombian block
ONGC Videsh Ltd. (OVL) is testing an oil discovery on trend with its 2017 Mariposa-1 oil strike on Block CPO-5 in Colombia and plans further drilling. The operator reported earlier this month that it had logged 284 ft of gross oil pay in the Lower Sands (LS-3) unit of the Cretaceous Une formation in its Indico-1 […]
ONGC lets rig contract to Shelf Drilling
India’s Oil & Natural Gas Corp. (ONGC) has let a 3-year contract to Shelf Drilling Ltd., Dubai, for use of the Ron Tappmeyer jack up drilling rig in Mumbai High, offshore India. The oil field lies 150 km offshore Mumbai in 70 m of water. Source: News
Talos Energy to proceed with Zama appraisal
Talos Energy Inc. will move ahead with an updip penetration in the Zama reservoir offshore Mexico following initial phase results that help to derisk Zama and the remainder of the Block 7 inventory, the company said. Source: News
CAP lets contract for Indonesian petrochemical complex
PT Chandra Asri Petrochemical Tbk. (CAP) subsidiary PT Chandra Asri Perkasa (CAP2) has let an additional contract to McDermott International Inc. to provide process technology for CAP2’s planned petrochemical complex in Indonesia. Source: News
Ukraine to outline details of licensing rounds
The Ukrainian government plans a series of licensing rounds for oil and natural gas blocks as the nation seeks to end its dependence on imported gas. International oil companies are being invited to participate in upcoming auctions and production-sharing agreements. Source: News