Oil prices gained modestly on the New York market May 20, settling above $63/bbl while Brent crude oil prices in London fell slightly to settle under $72/bbl. Light, sweet oil prices rose to their highest level in nearly 3 weeks on May 20, which analysts attributed to US-Iran tensions and major crude producers, including Saudi […]
Gazprom has two offshore Yamal gas finds
Gazprom said it has discovered more than 500 billion cu m of natural gas in two fields offshore the Yamal Peninsula in the Russian Arctic. Source: News
Inpex shuffle eyes exploration, projects
Inpex Corp., Tokyo, has reorganized “to reinforce oil and gas exploration and mergers and acquisitions capabilities” and to strengthen project execution. Source: News
Shell weighs plan for Louisiana MEG plant
Royal Dutch Shell PLC subsidiary Shell Chemical LP is advancing feasibility studies for a potential $1.2-billion manufacturing expansion of monoethylene glycol (MEG) production at its 841-acre Geismar chemicals complex in Ascension Parish, La. Source: News
Bitumen feed delayed for Alberta refinery
North West Redwater Partnership (NWRP) has delayed introduction of bitumen feed from Alberta’s oil sands at the first 80,000-b/d phase of its proposed three-phased greenfield bitumen refinery in Sturgeon County, about 45 km northeast of Edmonton, Alta. Source: News
PGNiG drills production well in Pakistan’s Rehman field
PGNiG SA has spudded the Rehman-6 production well on the western part of Rehman field in Pakistan to develop tight gas in a Cretaceous sandstone formation. Crews plan to drill to 2,700 m. PGNiG Pres. Piotr Wozniak said the company plans to drill four wells and put three of them on stream, including Rehman-6, during […]
NOPSEMA extends ruling time on GAB exploration
Australia’s National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) has told Norwegian company Equinor Australia BV that it needs more time to decide about Equinor’s environmental plan for the proposed exploration drilling program in the South Australian section of the Great Australian Bight (GAB). Source: News
Indiana CCS project gets OGCI investment
An Indiana integrated gasification combined cycle plant (IGCC) to be converted for ammonia production will receive funding from OGCI Climate Investments for an adjacent carbon capture and sequestration (CCS) project. Source: News
MARKET WATCH: Oil benchmarks drop ahead of OPEC meeting
Oil prices dropped on both the New York and London markets May 17, ending three sessions of gains. Analysts attributed the price drop to heightened US-Iran tensions and rising concerns about possible disruptions to oil shipments across the Middle East. Source: News
For US LNG, broad trade-war effects worse than tariffs
Politicization of energy and trade might matter more to US LNG exports and projects than a tariff raised by China amid a trade war. Source: News