Libya’s yo-yoing oil industry soon will enter a fourth post-revolution phase promising growth in oil production and related support for an essential condition: stability. Source: News
Renewable fuel reform discussion draft unveiled
Two Republican members of the US House Energy and Commerce Committee released a legislative discussion draft on Nov. 21 aimed at reforming quotas under the federal Renewable Fuel Standard by establishing a national octane specification beginning in 2023. Source: News
Baker Hughes: US rig count down 3 units during holiday week
The US drilling rig count is down 3 units to 1,079 rigs working for the shortened holiday week ended Nov. 21, according to Baker Hughes data. However, the count is up 156 units from the 923 rigs working this time a year ago. Source: News
BHP Billiton entities change names
BHP Billiton Ltd. and BHP Billiton PLC have changed names. Source: News
Woodside signs supply agreement for Scarborough gas
Woodside Petroleum Ltd., Perth, has signed a long-term gas sale and purchase agreement with petrochemical company Perdaman Chemicals & Fertilisers Pty. Ltd., a subsidiary of multinational Perdaman Group, for the supply of gas for 20 years. Source: News
Alberta expands petrochemical incentives
The government of Alberta is increasing its financial incentives for investment in petrochemical development based on oil and gas produced in the province. It is expanding its March commitment of as much as $1 billion (Can.) in royalty credits and loan guarantees to attract petrochemical investment and expand infrastructure for petrochemical feedstocks. Source: News
Report finds multi-tcf gas in Elixir’s Mongolian coal seam gas play
Perth-based Elixir Petroleum Ltd. has a risked best estimate recoverable coal seam gas prospective resource of 7.6 tcf in its wholly owned Nomgom IX prospect in southern Mongolia according to global independent petroleum reserves and resources auditor ERC Equipoise Pte. Ltd. Source: News
Australia’s treasurer makes call to block CK’s acquisition of APA
Australia’s Treasurer Josh Frydenberg has made his final decision to block CK Asset Holdings Ltd.’s proposed $13-billion acquisition of Sydney-based gas pipeline operator APA Group, saying it would be contrary to the national interest. Source: News
PHMSA issues final safety rule for plastic pipelines carrying gas
The US Pipeline & Hazardous Safety Administration issued a final rule amending federal safety regulations for plastic pipelines that transport natural and other gases. The final rule’s updates aim to improve safety, allow for expanded use of plastic pipes, and allow or require the use of certain materials or practices, the agency said. Source: […]
MARKET WATCH: NYMEX crude settles below $54/bbl, Brent below $63/bbl
Light, sweet crude oil prices dropped more than $3.70 Nov. 20 on the New York market while Brent crude oil prices in London fell more than $4 the same day. US President Donald Trump issued a statement Nov. 20 vowing to continue backing Saudi Arabia even though investigators concluded that Saudi agents killed US resident […]