A $25-50/tonne tax or fee on carbon emissions could help the US meet goals outlined in the United Nations’ 2016 Paris climate agreement, Congressional Research Service analysts concluded. But policymakers would face challenging decisions about how the new federal revenue would be distributed, CRS said in a report. Source: News
PetroRio becomes operator of Frade field offshore Brazil
PetroRio is now operator of Frade field, a heavy oil and gas field in Brazil’s Northern Campos basin, following the close of its acquisition of Chevron Brasil Upstream Frade. With the deal, PetroRio adds Chevron’s 51.74% stake in the concession to its pending agreement to acquire 18.26% from Frade Japao Petroleo, a joint-venture formed by […]
Prelude FLNG project ships first condensate cargos
Shell Australia’s Prelude floating LNG facilities in the Browse basin offshore Western Australia have produced and shipped their first cargo of condensate. The 116,000-dwt tanker Advantage Atom loaded the cargo last week. Source: News
Oil’s climate agenda
What’s the best way to respond to climate change? Watch oil and gas companies. Source: News
Crude quality imbalances
Since 2012 most of the growth of global oil production has been concentrated in light crude from the US, surpassing that of heavier grades by 1.7 million b/d as of November 2018, and by 2.6 million b/d as of January 2019. Source: News
Unipetrol lets contract for unit revamp at Litvinov refinery
Unipetrol RPA SRO-Rafinerie, the refining arm of Unipetrol AS and parent company Polski Koncern Naftowy SA (PKN Orlen), has let a contract to McDermott International Inc. to provide engineering, procurement, and construction management services for a unit upgrading project at its 108,400-b/d refinery in Litvinov, Czech Republic. Source: News
OGCI unit lets carbon-capture contract
Oil and Gas Climate Initiative Climate Investments has let a “multimillion-dollar” contract to Wood PLC for conceptual engineering in its gas power and industrial carbon capture work. The project includes engineering and concept design for a full-scale gas power plant with carbon capture. Source: News
Lake Charles LNG project agreement signed
Energy Transfer LP and Shell US LNG have moved toward a final investment decision on the conversion of Energy Transfer’s regasification terminal at Lake Charles, La., into a 16.45 million-tonne/year natural gas liquefaction plant. Source: News
MARKET WATCH: NYMEX, Brent crude oil prices close mixed
Light, sweet crude oil for May delivery declined on the New York market to settle slightly above $58.80/bbl on Mar. 25 while Brent crude oil for May delivery gained slightly in London to settle just above $67.20/bbl. US Secretary of State Mike Pompeo said President Donald Trump’s administration will not “stand idly by” while Russia […]
Watching Government: Venezuela’s petro-diplomacy
Venezuela President Hugo Chavez promoted Petrocaribe as a regional social improvement program in 2005 when he inaugurated it to sell Venezuelan crude oil at deep discounts to countries across Latin America that did not have their own production. Source: News