Statoil AS has acquired a 50% interest in a €1.2 billion wind project that E.On AG, Essen, will build and operate offshore Germany. Source: News
Uganda selects Tanzania crude-export pipeline route
Uganda has selected a 960-mile route from Hoima, Uganda, to Tanga, Tanzania, for a crude oil export pipeline. Total E&P Uganda, Tanzanian Petroleum Development Corp., and the governments of Uganda and Tanzania last year signed an agreement to study the pipeline as a means of moving the operator’s stranded resources to market. Source: News
Statoil hires Wood Group to study Snorre expansion subsea field concept
Statoil AS has let four subsea contracts on the Norwegian continental shelf to Wood Group, including a contract for Wood Group to study subsea field concept engineering for the Snorre expansion project, which focuses on cost-efficient enhanced recovery from the Snorre reservoir. Source: News
Despite losses, Aminex moves ahead on second Tanzania producer
Aminex PLC plans to move ahead on its Ruvuma block onshore southern Tanzania near the Mozambican border. The company reported a loss of $3.78 million for 2015. The company noted in its report, “2016 will be the year when Aminex begins to reap rewards from a decade of exploration and development in Tanzania.” Source: […]
Bayou Bridge starts Nederland-to-Lake Charles operations, St. James on schedule
Bayou Bridge Pipeline LLC has started commercial operations on its 30-in. OD segment from Nederland, Tex., to Lake Charles, La. Bayou Bridge also completed a successful binding open season for a second 24-in. OD segment of the pipeline from Lake Charles to St. James, La. Source: News
Petroecuador restarts Esmeraldas refinery
Ecuador’s state-owned Petroecuador has restarted its 110,000-b/d Esmeraldas refinery following a precautionary shutdown of the plant in the wake of an Apr. 16 earthquake in the region. Source: News
New York State’s DEC denies water permit for Constitution Pipeline
The New York State Department of Environmental Conservation (DEC) denied a water-quality certificate required for construction of the proposed Constitution natural gas pipeline, saying it failed to meet the Empire State’s water-quality standards. Source: News
MARKET WATCH: NYMEX crude oil price rises modestly despite no production freeze deal
Light, sweet crude prices for June delivery gained half a dollar on the New York market Apr. 22 to close out the week at just below $44/bbl, marking the highest settlement since Nov. 10, 2015. For the week, both US benchmark crude oil in New York and Brent crude oil futures in London each gained […]
Watching Government: Waterways matter to US oil
Railroads and pipelines may have grabbed more petroleum transportation headlines the past few years, but the US maritime system needs attention too. Source: News
IEA: Oil market 'set to move close to balance' in second half
The scenario anticipated for months of steady oil demand growth and falling supply from producers outside the Organization of Petroleum Exporting Countries is now taking shape, and the “oil market looks set to move close to balance in the second half of this year,” the International Energy Agency said in its latest Oil Market Report. […]