Culzean field starts production off UK

Production has begun from Culzean gas condensate field in the Central Graben area of the UK North Sea. Development by Total SA and partners involved the drilling of six wells and construction of three bridge-linked platforms and a floating storage and offloading unit. Source: News

Russian gas exports to Hungary rise nearly twofold

Natural gas supplies from Gazprom to Hungary from Jan. 1 through June 5 totaled 4.3 billion cu m, a 57.5% increase vs. the same period last year. In addition to the contracted amounts, Hungary bought from Gazprom another 2 billion cu m of gas, which will be delivered this year. Source: News

Shell’s Prelude ships first LNG cargo

Shell Australia’s Prelude floating LNG project, 475 km offshore Broome, Western Australia, has shipped its first LNG cargo, loading the 173,400-cu m Valencia Knutsen for delivery to Asia. Prelude came on stream in January and shipped its first condensate cargos in March. Source: News

IEA: UK makes major progress reducing emissions

The UK has made major progress in reducing emissions, according to the International Energy Agency’s latest country review. “The United Kingdom has shown real results in terms of boosting investment in renewables, reducing emissions, and maintaining energy security,” said Fatih Birol, IEA’s executive director. “It now faces the challenge of continuing its transition while ensuring […]

Eni enters waste-conversion partnership

Eni SPA has signed a partnership agreement with NextChem, Maire Tecnimont’s green chemistry subsidiary, to become codeveloper of technology to produce hydrogen and methanol from solid urban waste and nonrecyclable plastic. Source: News

Lukoil, KazMunayGaz mull Kazakh block JV

Lukoil and KazMunayGaz have signed a heads of agreement calling for negotiation of mineral rights on the I-P-2 block offshore Kazakhstan. The block is 130 km off Aktau in 300-400 m of water. Lukoil said 2D seismic surveys have been shot over the area. Source: News

Petrobras, SBM sign LOI for Mero 2 FPSO

Petroleo Brasileiro SA (Petrobras) signed a letter of intent with SBM Offshore for a 22.5-year lease and operation of the Mero 2 floating production, storage, and offloading vessel to be installed on giant Mero oil field in the Santos basin offshore Brazil. Source: News

ExxonMobil proceeds with Vaca Muerta expansion

ExxonMobil Corp. announced plans to proceed with long-term oil development on Bajo del Choique-La Invernada block within Argentina’s Vaca Muerta basin. The project is expected to produce as much as 55,000 boe/d within 5 years. The project will include 90 wells, a central production complex, and export infrastructure connected to the Oldeval pipeline and refineries. […]

MARKET: Brent for August drops $1/bbl

Brent crude oil for August delivery dropped by $1 to dip below $63/bbl on June 10 while light, sweet crude oil prices for July and August delivery also dropped moderately but both settled above $53/bbl. Ole Hansen of Saxo Bank said, “Crude oil began the week on the defensive with continued focus on the risk […]

Phillips 66 forms crude oil pipeline JVs

Phillips 66 has formed two separate 50-50 joint ventures to build pipelines that will transport crude oil from the Rockies and Bakken production areas to Cushing, Okla. and from Cushing and the Permian basin in West Texas to the Gulf Coast. Source: News