BP Trinidad & Tobago LLC (BPTT) and Atlantic LNG Co. of Trinidad & Tobago have sanctioned the Trinidad Onshore Compression (Troc) project, which is expected to increase BPTT’s natural gas production by an additional 200 MMscfd. Source: News
Paul takes role of general counsel at Gulf Oil
Chris Paul has joined Gulf Oil LP as its general counsel. He’ll oversee company legal matters including capital markets, mergers and acquisitions, corporate governance, commercial, contracts, litigation, and regulatory compliance. Source: News
ConocoPhillips, Marathon Oil cancel Maersk Valiant drillship contract
Houston independents ConocoPhillips Co. and Marathon Oil Corp. have reached an early termination agreement with Maersk Drilling AS for the Maersk Valiant drillship, effective mid-September. Source: News
Texas joins other states’ suit over new EPA oil, gas methane rule
Texas joined several other producing US states in a lawsuit challenging the US Environmental Protection Agency’s final rule limiting methane emissions from new oil and gas wells and storage tanks, and from wells producing fewer than 15 b/d of oil. Source: News
Ithaca to expand Greater Stella position in four deals
Ithaca Energy Inc. has expanded its core position in the Greater Stella area of the central North Sea with four acquisitions, taking additional interest in the Vorlich discovery and operated interest in the Austen discovery. Source: News
Imperial Oil reports $181-million (Can.) loss in second quarter
Imperial Oil Ltd., Calgary, said the northern Alberta wildfires and planned maintenance contributed to a $181-million (Can.) loss in the second quarter. A year earlier, the company earned $120 million. Source: News
MARKET WATCH: NYMEX crude briefly dips below $40/bbl
The light, sweet crude oil price for September dropped more than $1.50/bbl on the New York market Aug. 1 to settle at $40.06/bbl after having dipped to a trading day low of less than $40/bbl for the first time since April. Source: News
Flores promoted to VP, aromatics and olefins at The Plaza Group
Jose Flores has been elevated to the post of vice-president, aromatics and olefins at The Plaza Group Inc., an international chemical marketing firm. Source: News
MOL acquires Eni retail network in Hungary
MOL Group has acquired Eni Hungaria, which manages 173 Agip-branded service stations and a wholesale business in Hungary. Source: News
EnCap Flatrock selects managing partners, partner
EnCap Flatrock Midstream has promoted Gregory C. King and Dave Kurtz each to the position of managing partner and Dennis J. McCanless to partner. Source: News