The Interagency Task Force on Natural Gas Storage Safety, which the federal government established in the wake of a massive gas leak at the Aliso Canyon storage site near Los Angeles in late 2015, issued a report intended to help reduce the risk of future similar incidents. Source: News
Fluor completes module fabrication for Fort Hills Energy oil sands
Fluor Corp. said it fabricated and shipped 358 modules to the Athabasca region of Alberta for the Fort Hills Energy LP oil sands mining project. Fluor has an engineering, procurement, fabrication, and construction contract for the utilities portion of the project. Source: News
Russian ethylene plant due cracking furnaces
PJSC Kazanorgsintez has let a contract to a division of Technip SA for delivery of three furnaces to the operator’s ethylene plant in Kazan, Tatarstan, Russia. Source: News
MARKET WATCH: NYMEX crude oil climbs back above $50/bbl
Light, sweet crude oil prices gained moderately to settle above $50/bbl for both November and December on the New York market Oct. 18 while the Brent crude oil contract for December settled at nearly $51.70/bbl on the London market. Source: News
Bangladesh lets contract for refinery expansion project
Bangladesh Petroleum Corp. (BPC) has let a contract to China National Petroleum Corp. (CNPC) subsidiary China Petroleum Pipeline Bureau (CPP) for the construction of an offshore single-point mooring (SPM) and dual-pipeline as part the expansion of subsidiary Eastern Refinery Ltd.’s (ERL) 1.5 million-tonne/year refinery at Chittagong, Bangladesh. Source: News
Statoil group makes two minor discoveries at Njord North Flank
Exploration well 6407/7-9 S (NF-2) at the Njord North Flank in the Norwegian Sea encountered a 102-m gross oil-bearing reservoir in Middle and Lower Jurassic sandstones of the Ile and 157-m gross gas condensate-bearing column in Lower Jurassic sandstones in the Tilje formation. Source: News
Suncor, Mikisew Cree First Nation sign deal for tank farm
Suncor Energy Inc., Calgary, and Mikisew Cree First Nation (MCFN) signed an equity agreement for Suncor’s East Tank Farm Development in the Wood Buffalo area of Alberta. Source: News
Court rejects export of Barmer basin crude
Efforts by Cairn India Ltd. to export crude oil produced in the Barmer basin of Rajasthan have been rejected by the New Delhi high court. Source: News
SM Energy makes another $1-billion deal for Midland basin acreage
SM Energy Co., Denver, has agreed to acquire 35,700 net acres in Howard and Martin counties of West Texas from Houston-based QStar LLC, a portfolio company of EnCap Investments LP and a related entity, for $1.1 billion in cash plus 13.4 million shares of SM Energy common stock. Source: News
Oasis to buy Williston assets from SM Energy for $785 million
Oasis Petroleum Inc., Houston, has agreed to acquire 55,000 net acres and 226 gross operated drilling locations in Divide County, ND, part of the Williston basin, from Denver-based SM Energy Co. for $785 million. Source: News