Statoil ASA has agreed to buy the 66% operated interest in the BM-S-8 offshore license in Brazil’s Santos basin held by Petroleo Brasileiro SA (Petrobras) for $2.5 billion. Source: News
ONRR to update civil penalty regulations for first time since 1999
The US Office of Natural Resources Revenue will update its civil penalties on Aug. 1 for the first time since May 1999, the US Department of the Interior agency reported. Legislation, legal decisions, and recommendations from oversight entities drove the need to modernize and improve its civil penalty authority, it said. Source: News
Williams gets FERC approval for eastern US expansions
Williams Partners LP has received approval from the US Federal Energy Regulatory Commission for both its New York Bay expansion and Virginia Southside II expansion projects. The New York Bay expansion is designed to serve increasing local distribution demand in New York City while the Virginia Southside II expansion targets new electric-power generation in Virginia. […]
Sibur boosts capacity at Western Siberian gas plant
Russian conglomerate PJSC Sibur Holding, Moscow, has completed a project to expand NGL fractionation capacity by 1.4 million tonnes/year at its Tobolsk (formerly Tobolsk-Neftekhim) processing site in Western Siberia’s Tyumen region. Source: News
Chevron records loss of $1.5 billion in second quarter
Chevron Corp. recorded a second-quarter loss of $1.5 billion compared with earnings of $571 million in second-quarter 2015. Source: News
ExxonMobil’s second-quarter earnings fall 59%
ExxonMobil Corp. reported second-quarter earnings of $1.7 billion, down from $4.2 billion in second-quarter 2015 due to lower commodity prices and weaker refining margins. First-half earnings totaled $3.5 billion, a decline from $9.13 billion in first-half 2015. Source: News
MARKET WATCH: NYMEX crude drops to nearly $41/bbl
The light, sweet crude oil price for September continued dropping on the New York market July 28 to settle at $41.14/bbl—the contract’s lowest front-month closing since Apr. 19. The contract has fallen in eight of the last nine trading sessions. Source: News
Serica Energy resumes oil, gas production from Erskine field
Serica Energy PLC of London said Erskine field oil and gas production resumed July 27 following clearance of a blockage on a condensate pipeline and also on completion of scheduled maintenance works on the Lomond platform. Source: News
UK offers 1,261 blocks in 29th offshore licensing round
UK’s Oil and Gas Authority (OGA) has launched the 29th offshore licensing round, making available 1,261 blocks for bid on the UK Continental Shelf (UKCS). Firms have until Oct. 26 to apply for blocks. Source: News
AFPM questions SEC proposal’s broader disclosure requirements
The American Fuel & Petrochemical Manufacturers questioned whether it would be appropriate for the US Securities and Exchange Commission to mandate disclosure requirements for environmental, social, and governance matters, particularly related to climate change, for publicly traded companies. Source: News