Renewed LPG demand growth in India and China will lead to growth of US exports later this year, according to ESAI Energy’s newly published Global NGL Outlook. Source: News
Appomattox field comes on stream in GOM
Appomattox field in the US Gulf of Mexico started production ahead of schedule in the deepwater Gulf of Mexico about 80 miles offshore Louisiana. Shell Offshore Inc. operates the field in 7,200 ft of water. Source: News
MARKET WATCH: Oil prices drop on US inventory gain
Oil futures dropped May 22 with light, sweet crude contracts for July and August settling down by more than $1.70/bbl each on the New York market, marking the biggest single-session loss in nearly 3 weeks. Source: News
MOL Petrochemicals lets contract for Tiszaújvaros complex
MOL Group subsidiary MOL Petrochemicals Co. Ltd. (formerly TVK PLC) has let a contract to McDermott International Inc. to provide technology licensing for a new unit at its Tiszaújvaros petrochemicals complex in northeastern Hungary. Source: News
EIA: US crude inventories up 4.7 million bbl
US crude oil inventories for the week ended May 17, excluding the Strategic Petroleum Reserve, increased by 4.7 million bbl from the previous week, according to data from the US Energy Information Administration. Source: News
Total’s Leuna refinery operating at reduced rates
Total SA subsidiary Total Raffinerie Mitteldeutschland GMBH has halted operations of some units at its 241,000-b/d Leuna refinery in Germany following contamination issues resulting from supplies of Russian crude oil volumes. Source: News
Wintershall Dea installs Nova templates
Wintershall Dea has installed the two subsea templates anchoring development of Nova oil field in the Norwegian North Sea. The Subsea 7 Seven Arctic vessel transported the 300-tonne units 45 km from Floro, Norway, to the field and lifted them by crane into 370 m of water. Aker Solutions built the templates at Egersund, Norway. […]
Aramco, Sempra sign largest LNG deal in 6 years
Sempra Energy and Saudi Aramco announced their respective subsidiaries—Sempra LNG and Aramco Services Co.—have signed a heads of agreement that anticipates the negotiation and finalisation of a definitive 20-year sale-and-purchase agreement covering 5 million tonnes/year of LNG from the Port Arthur export project under development. Source: News
BHP considers conventional oil attractive for decades
BHP said its conventional oil assets look to be attractive investments “for several decades,” particularly its holdings offshore Mexico and offshore eastern Canada. During an operations update, BHP executives said the company expects to spud an appraisal well on Trion in late December with earliest production expected in the mid 2020s. BHP is the operator […]
Dana Gas spuds Merak-1 wildcat off Egypt
Dana Gas PJSC, Sharjah, has spudded a deepwater wildcat on its North El Arish concession area offshore Egypt. The company says the Merak-1 well is on one of three prospects it describes as “world class” in the area, also known as Block 6. Source: News