South Carolina Atty. Gen. Alan M. Wilson moved in federal court on Jan. 7 to have the state join 16 cities and towns’ lawsuit to stop oil and gas seismic surveys in the state’s offshore areas. This lawsuit is separate from one by environmental groups and other organizations in which Maryland Atty. Gen. Brian E. […]
Baker Hughes: International rig count rises 34 units in December
The international rig count for December reached 1,025, up 34 units from the 991 rigs counted in November and up 71 units from the 954 rigs counted in December 2017, according to Baker Hughes data. The international offshore rig count for December was 234, up 28 units from the 206 counted in November, and up […]
BP lets contract for Atlantis Phase 3 in Gulf of Mexico
BP PLC has let a contract to TechnipFMC to provide integrated engineering, procurement, construction, and installation services for the Atlantis Phase 3 project in the Gulf of Mexico. BP recently approved a $1.3-billion expansion at the field. BP operates Atlantis and holds 56% interest while BHP holds 44% interest. BHP has yet to commit to […]
EIA: US crude inventories down 1.7 million bbl
US crude oil inventories for the week ended Jan. 4, excluding the Strategic Petroleum Reserve, decreased by 1.7 million bbl from the previous week, data from the US Energy Information Administration showed. At 439.7 million bbl, US crude oil inventories are about 8% above the 5-year average for this time of year, the report indicated. […]
MARKET WATCH: Oil prices rise on hopes of US-China trade dispute resolution
The light, sweet crude oil price for February rose Jan. 8, settling just under the $50/bbl mark on the New York market while the Brent crude oil price for March settled just below $59/bbl on rising hopes of a trade dispute resolution between the US and China. Source: News
API’s new president cites progress, outlines challenges for 2019
Responsible operations and steadily improving technology have combined to make the US the world’s leading oil and gas producer, said American Petroleum Institute Pres. Mike Sommers in his first major public address on Jan. 8. But carefully conceived policies and improved permitting processes will be necessary to keep the progress going, he told more than […]
Oil market to be relatively balanced amid heightened complexity in 2019
Source: News
US Supreme Court rejects ExxonMobil bid to block Mass. AG’s subpoena
The US Supreme Court rejected ExxonMobil Corp.’s effort to block Massachusetts Atty. Gen. Maura Healy’s (D) subpoena for documents related to the multinational oil company’s research into global climate change. The nation’s highest court denied certiorari in the case of ExxonMobil Corp. v. Healey without comment on Jan. 8. Source: News
BP approves expansion at Atlantis field in Gulf of Mexico
BP PLC approved a $1.3-billion expansion at Atlantis field in the Gulf of Mexico and said recent seismic imaging identified 1 billion bbl of additional oil in place at Thunder Horse field. Elsewhere in the gulf, two discoveries near Na Kika platform provide additional development opportunities. Source: News
Hanwha Total lets contract for Daesan integrated complex
Hanwha Total Petrochemicals, a 50-50 joint venture of Hanwha Group and Total, has let a contract to W.R. Grace & Co. to provide technology licensing for a grassroots polypropylene unit at its Daesan petrochemical complex in Chungnam Province, South Korea, about 145 km from Seoul. Source: News