CNOOC-Shell JV take FID on Huizhou ethylene expansion

Royal Dutch Shell PLC subsidiary Shell Nanhai BV and China National Offshore Oil Corp. (CNOOC) have taken final investment decision on the companies’ previously announced plan to expand capacity at their 50-50 joint venture CNOOC & Shell Petrochemicals Co. Ltd.’s (CSPC) petrochemical complex in the Daya Bay Economic and Technological Development Zone, Huizhou, Guangdong Province, […]

Geo-Jade acquiring Bankers Petroleum

Bankers Petroleum Ltd., Calgary, will be acquired by affiliates of Geo-Jade Petroleum Corp., Beijing, in a share purchase valued at $575 million (Can.). Source: News

More than markets needed to curb climate change, economist says

Aggressive government policies probably will be necessary to move consumers away from fossil fuels to alternative and renewable energy sources because markets appear unable to the job alone, a University of Chicago economist said. Source: News

PDO shifting from EOR to lower-cost production methods

Petroleum Development Oman (PDO) said enhanced oil recovery (EOR) is expected to account for about 25% of its oil production by 2025, vs. last year’s projection of 33% by 2023. Source: News

MARKET WATCH: NYMEX oil prices rise modestly, hover under $40/bbl

Light, sweet crude oil prices rose modestly on the New York market Mar. 21 but still hovered under $40/bbl by closing. Prices gained strength toward the end of the trading session after waffling between gains and losses throughout Mar. 21, which analysts largely blamed on world oversupply concerns. Source: News

Croatian refinery due energy efficiency study

Croatia’s INA Industrija Nafte DD, Zagreb, has let a contract to Neste Jacobs Oy to perform a comprehensive energy efficiency study of its 4.5 million-tonne/year Rijeka refinery along the northern part of the Adriatic Sea at Urinj, Croatia. Source: News