In its latest monthly Oil Market Report, the International Energy Agency said the global oil market remains calm despite the ongoing geopolitical supply concerns. The geopolitical supply concerns around Libya, Iran, and Venezuela have been joined in the past few days by the attacks on shipping off Fujairah and on two pumping stations in Saudi […]
Oman LNG lets contract for Sur plant
Oman LNG has let a contract to KBR to provide debottlenecking services for its 34 million-cu m/day liquefaction plant on the coast at Qalhat near Sur, in Oman’s South Sharqiyah Governorate. As part of the of the contract, KBR will provide front-end engineering design services for the debottlenecking project to increase production at the Sur […]
EIA: US crude inventories up 5.4 million bbl
US crude oil inventories for the week ended May 10, excluding the Strategic Petroleum Reserve, increased by 5.4 million bbl from the previous week, according to data from the US Energy Information Administration. At 472 million bbl, US crude oil inventories are 2% above the 5-year average for this time of year, the report indicated. […]
SemCAMS, Keyera to build Montney-Duvernay liquids line
SemCAMS Midstream has entered into an asset joint venture with Keyera to build an NGL and condensate pipeline system connecting the liquids-rich Montney and Duvernay shale production areas of northwestern Alberta to fractionation and condensate hubs in Fort Saskatchewan, Alta. The joint venture replaces SemCAMS Midstream’s previously announced Montney to Market (M2M) pipeline. Source: […]
Second-phase Johan Sverdrup work approved
Second-phase development of Johan Sverdrup oil field in the Norwegian North Sea has been approved. The Norwegian Ministry of Petroleum and Energy approved Equinor’s plan for development and operation covering a new processing platform, modifications of the first-phase riser platform, five subsea systems, and preparations for power supply from shore to the Utsira High area […]
MARKET WATCH: Brent crude gains on US-Iran tensions
Light, sweet crude oil prices gained modestly to approach $62/bbl on the New York market by the May 14 settlement while the Brent contract for July gained $1/bbl to settle above $71/bbl for the first time in five trading sessions. Source: News
IGU: Global LNG imports rose 40% in 2018 vs. 2017
Continued growth in US Henry Hub-priced LNG exports and a general rise in spot LNG cargoes led to the highest year-to-year increase ever in total global LNG imports during 2018, the International Gas Union said as it released its 2019 Wholesale Gas Price Survey on May 13 in Barcelona. Source: News
Jadestone complete Stag oil field infill well
Jadestone Energy Inc., Singapore, has reported the completion of its infill drilling program in Stag oil field in the Carnarvon basin offshore Western Australia. Source: News
Eni group finds more light oil off Angola
Eni SPA said the fourth oil discovery in the exploration program it started with partners in mid-2018 on Block 15/06 offshore Angola has production capacity exceeding 10,000 b/d of light oil. Source: News
Blackrock well cuts thin oil sands off UK
The Blackrock exploration well 204/5b-2 in the West of Shetlands area proved the existence of intravolcanic charged reservoirs between undeveloped Cambo and Rosebank oil fields, reports Siccar Point Energy, the operator. The Diamond Ocean GreatWhite semisubmisersible rig drilled the well in 1,115 m of water 10 km north of Cambo field. Source: News