Most Recent Stories

EIA: US oil, gas supply less vulnerable to hurricanes in 2015

Fri, Aug 28, 2015

A relatively light hurricane season anticipated for 2015 and an overall decline in the Gulf of Mexico’s share of US crude oil and natural gas production both serve to minimize the risk of supply disruptions, the US Energy Information Administration noted in its Aug. 28 energy update.

Rosneft, Egas sign master LNG supply, purchase deal

Fri, Aug 28, 2015

Rosneft Group unit Rosneft Trading SA and Egyptian Natural Gas Holding Co. (Egas) have signed a master LNG supply and purchase agreement.

MARKET WATCH: NYMEX, Brent crude oil prices both surge in one-day rally

Fri, Aug 28, 2015

The crude oil price for October delivery settled up nearly $4/bbl on the New York market Aug. 27, marking its biggest single-day gain in more than 5 years. Brent crude oil prices on the London market leaped by more than $4/bbl, marking Brent’s biggest single-day rise since December 2008.

PetroChina reports first half results

Thu, Aug 27, 2015

PetroChina Co. Ltd. reported first-half increases in output of crude, natural gas, and refined products compared with a year earlier.

BLM brings its Master Leasing Plan concept to Utah

Thu, Aug 27, 2015

The US Bureau of Land Management’s Moab, Utah, field office began a 90-day comment period on Aug. 21 for a draft proposed Master Leasing Plan for 946,469 acres of public land overseen by the US Department of the Interior agency near the southeastern Utah community. The proposed MLP—Utah’s first—will follow a pattern BLM has used in developing similar plans in Colorado and Wyoming.

Kuwait lets contract for grassroots Al-Zour refinery

Thu, Aug 27, 2015

Kuwait National Petroleum Co. (KNPC) has let a fifth contract package to a joint venture of Italy’s Saipem SPA and India’s Essar Projects Ltd. for work related to construction of the proposed 615,000-b/d Al-Zour refinery complex in southern Kuwait, which is to be built as part of the company’s Clean Fuels Project.

CNOOC net production up in first half

Thu, Aug 27, 2015

CNOOC Ltd. said first-half net production of oil and gas rose 13.5% to 240.1 million boe, primarily due to contributions from new projects in Bohai and the eastern South China Sea.

Apache taking Woodside to court over Wheatstone LNG cash dispute

Thu, Aug 27, 2015

Houston independent Apache Corp. is taking Woodside Petroleum Ltd. to court over an alleged unpaid $64 million cash call associated with the sale of Apache’s interest in the Wheatstone LNG project in Western Australia.

North Sea Midstream buys gas assets from Total for $905 million

Thu, Aug 27, 2015

North Sea Midstream Partners Ltd. (NSMP) has agreed to acquire 67% operated interest in the Shetland Island regional gas export system (SIRGE), 100% interest in the Frigg UK gas pipeline (FUKA), and 100% interest in the St. Fergus gas terminal from Total SA for $905 million.

MARKET WATCH: NYMEX, Brent crude oil price drop modestly

Thu, Aug 27, 2015

Crude oil prices dropped modestly on the New York market on Aug. 26 after a weekly government report showed an unexpected draw in US commercial crude oil inventories, helping light, sweet crude oil prices settle higher although the contract for October delivery remained under $39/bbl.

Sinopec reports earnings for first half

Thu, Aug 27, 2015

China Petroleum & Chemical Corp. (Sinopec) reported a first-half operating loss in exploration and production of 1.8 billion yuan while refining earned 15.3 billion yuan.

Court approves ExxonMobil’s environmental settlement with New Jersey

Wed, Aug 26, 2015

A New Jersey Superior Court judge approved a $225-million environmental settlement between the state and ExxonMobil Corp. to resolve environmental damages over several decades from refineries in Linden and Bayonne and retail outlets and other facilities across the state.

Unipetrol: Litvinov ethylene plant restart likely to take months

Wed, Aug 26, 2015

Unipetrol AS will not have a definite timeframe for restarting production at its Chempark Zaluzi petrochemical complex in Litvinov, Czech Republic, until it completes an investigation into the mid-August explosion and ensuing fire at the site’s 544,000-tonne/year (tpy) ethylene plant.

MARKET WATCH: NYMEX crude oil price rebounds but holds under $40/bbl

Wed, Aug 26, 2015

Crude oil prices bounced up on both New York and London markets on Aug. 25, gaining more than $1/bbl for US light, sweet crude while Brent crude oil prices gained about 50¢ on the same day that the People’s Bank of China announced it cut interest rates for the fifth time since November 2014.

Deloitte: Northern Territory bullish on shale gas

Wed, Aug 26, 2015

Development of a shale-gas industry in Northern Territory could drive significant long-term economic growth and generate as much as $1 billion (Aus.) of government revenue, according to recent study by Deloitte Access Economics commissioned by the Australian Petroleum Production & Exploration Association.

Stay Connected