Mangalore Refinery & Petrochemicals, a subsidiary of Oil & Natural Gas Corp., has implemented a partial shutdown of process units as part of a force majeure at its 300,000-b/d integrated complex in Mangalore, India. Source: News
Official: Normal Druzhba flow due mid-May
The Druzhba oil pipeline between Russia and Europe will resume normal operations in mid-May after a month-long curtailment responding to contamination, according to Russian Energy Minister Aleksandr Novak in a report by Radio Free Europe/Radio Liberty. Source: News
Dutch refiner lets contract for Zeeland refinery
Dutch refiner Zeeland Refinery, a joint venture of Total and Lukoil, has let a contract to Aspen Technology to implement asset optimization software designed to bridge gaps in planning and scheduling at its 72,300-b/d refinery at Vlissingen, the Netherlands. Source: News
DOE laboratories, ExxonMobil launch lower-emissions research effort
Two US Department of Energy national laboratories and ExxonMobil Corp. plan to invest as much as $100 million over 10 years to advance lower emissions energy technologies that could be brought to a commercial scale. The agreement involving DOE’s National Energy Technology and National Renewable Energy Laboratory is one of the largest between DOE’s labs […]
Karoon Gas completes Peruvian farmout to Tullow Oil
Karoon Gas Australia Ltd., Melbourne, has completed its farmout of a 35% participating interest in its offshore Block Z-38 Tumbes basin permit to Tullow Oil PLC. Tullow has acquired the interest in return for funding 43.75% of the cost of the first exploration well, capped at $27.5 million, beyond which Tullow will pay its 35% […]
Study: Natural gas will play key role in energy future of US
Natural gas will continue to play a key role in America’s economic growth and overall energy future in the coming decades as the country makes a transition to a low-carbon economy, a study commissioned by the INGAA Foundation concluded. Source: News
EIA revises upwards its oil price forecasts for 2019-20
In its latest monthly Short-Term Energy Outlook, the US Energy Information Administration forecasts Brent spot prices will average $70/bbl in 2019 and $67/bbl in 2020, both about $5/bbl higher than in last month’s STEO. This compares with an average of $71/bbl in 2018. EIA’s higher Brent crude oil price forecast reflects tighter expected global oil […]
EIA: US crude inventories down 4 million bbl
US crude oil inventories for the week ended May 3, excluding the Strategic Petroleum Reserve, decreased by 4 million bbl from the previous week, according to data from the US Energy Information Administration. At 466.6 million bbl, US crude oil inventories are at the 5-year average for this time of year, the report indicated. […]
MARKET WATCH: Crude oil prices fall on geopolitical uncertainties
Light, sweet crude oil fell to settle below $62/bbl on the New York market May 7 while Brent crude oil fell by more than $1 to settle below $70/bbl in London after US officials suggested China was reneging on its commitment to a US-China trade agreement. Source: News
FAR lets contract for 3D seismic survey offshore Senegal
Shearwater GeoServices was let a contract to conduct a 3D seismic survey over SNE oil field offshore Senegal. The high-definition work is expected to improve reservoir definition in support of optimizing development well locations on the field. SNE joint venture partner, FAR Ltd., said the survey is schedule to begin in June as part of […]