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MARKET WATCH: Crude oil prices mixed on global geopolitical concerns

05/20/2014

Crude oil futures prices rose on the New York market May 19 while benchmark Brent crude oil prices declined on the London market. Analysts said the market was getting mixed signals based on robust US oil supplies and also on geopolitical uncertainty in Ukraine and Libya.

‘Hydrocarbon leak’ shuts production at Statoil’s Snorre B platform

05/19/2014

Statoil ASA has shut down production from the Snorre B platform after it experienced a hydrocarbon leak into a recently identified crater measuring 100 cu m affiliated with a well at one of four seabed production frames, a company spokesman told OGJ on May 19. The crater was spotted May 17 after a routine inspection by a remotely operated underwater vehicle.

FERC issues FEIS for Maine’s Downeast LNG project

05/19/2014

The US Federal Energy Regulatory Commission has issued its final environmental impact statement (FEIS) for the Downeast LNG project in Washington County, Maine, proposed by Downeast LNG Inc. and Downeast Pipeline LLC.

Preem restarts units at Swedish refinery

05/19/2014

Swedish refiner Preem Petroleum AB, a wholly owned subsidiary of Corral Petroleum Holdings AB, Stockholm, has completed repairs to and restarted two units at its 210,000-b/d Lysekil, Sweden, refinery.

BLM to prepare EIS on large proposed Wyoming oil, gas project

05/19/2014

The US Bureau of Land Management plans to prepare an environmental impact statement based on five independent producers’ plans to develop natural gas resources in 1.5 million federally managed acres in Converse County, Wyo., BLM announced.

OMV completes butadiene plant upgrade at Austrian refinery

05/19/2014

OMV AG has completed the extension of a butadiene plant at its 203,900-b/d Schwechat refinery in Austria.

Eldfisk 2/7 S topside en route to southern North Sea

05/19/2014

The Kvaerner ASA-constructed Eldfisk 2/7 S topside, completed in April, has departed the company’s yard in Stord and is en route to the Greater Ekofisk area of the southern North Sea.

MARKET WATCH: Crude oil futures end week higher

05/19/2014

The New York Mercantile Exchange June crude oil contract price was up 52¢ on May 16, closing at $102.02/bbl. The July contract increased 45¢ to $101.58/bbl.

Partners enter next phase for North Reggane gas project

05/19/2014

Partners in the $3 billion North Reggane natural gas project in west-central Algeria have let a $976 million contract with Petrofac International (UAE) LLC.

EPA proposal due soon might reshape US power generation

05/16/2014

About all anyone outside the US Environmental Protection Agency knows about proposed rules due soon that might restructure power generation in America is that they’ll arrive on time.

Chesapeake to spinoff oil field services unit, divest $4 billion in assets

05/16/2014

Chesapeake Energy Corp., Oklahoma City, has decided to proceed with spinning off its oil field services business, currently conducted through its wholly owned subsidiary Chesapeake Oilfield Operating LLC (COO), almost 3 months after reporting that a spinoff or outright sale of the business was under consideration (OGJ Online, Feb. 24, 2014). COO will also convert into a corporation and change its name to Seventy Seven Energy Inc.

EPA gives nod for ExxonMobil’s Texas ethylene cracker project

05/16/2014

The Environmental Appeals Board (EAB) for the US Environmental Protection Agency has approved a permit granted to ExxonMobil Chemical Co. to proceed with plans to build a natural gas-fired ethylene production unit at its existing olefins plant in Baytown, Tex., just east of Houston.

Baker Hughes: US drilling rig count lifts to 1,861

05/16/2014

The US drilling rig count gained 6 units to 1,861 rigs working during the week ended May 16, Baker Hughes Inc. reported.

EnQuest eyes second-half Alma-Galia start

05/16/2014

EnQuest PLC, London, expects production to start in this year’s second half from its redevelopment of Alma and Galia oil fields in the UK North Sea.

Norway’s PSA cites Statoil for January leak at Hammerfest LNG plant

05/16/2014

An investigation into a Jan. 5 hydrocarbon leak at Statoil ASA’s Hammerfest LNG facility in northern Norway found that the event “had a big accident potential and could have led to loss of life,” according to a May 15 report from the Norwegian Petroleum Safety Authority (PSA).

MARKET WATCH: Crude oil futures prices maintain buoyancy above $101/bbl

05/16/2014

The New York Mercantile Exchange June crude oil contract price dropped 87¢ on May 15, closing at $101.50/bbl. The July contract fell 61¢ to $101.13/bbl.

Petrobras signs 41 contracts from Brazil’s 12th Round

05/16/2014

Petroleo Brasileiro SA (Petrobras) has signed 41 concession contracts for blocks acquired in the 12th Round of Bidding organized by Brazil’s National Agency of Petroleum, Natural Gas, and Biofuels (ANP).

Petrobras sets daily production record in Brazil’s offshore presalt

05/16/2014

Petroleo Brasileiro SA (Petrobras) has surpassed 470,000 b/d in the presalt layer of the Santos and Campos basins offshore Brazil, a new daily production record according to the company.

EIA: Norway supplied 21% of Europe’s natural gas in 2013

05/16/2014

Norway, the world's third-largest natural gas exporter after Russia and Qatar, supplied 21% of total European gas needs in 2013, according to data from the US Energy Information Administration.

Contract let for Egypt’s Tahrir petrochemical complex

05/16/2014

Carbon Holdings Ltd. (CHL) of Egypt has let a contract to Drake & Scull International PJSC (DSI) for engineering, procurement, construction, and commissioning (EPCC) activities related to utilities and offsite installations for the Tahrir petrochemical complex planned at Ain Sokhna, Egypt.

Mayer Brown: Mexico’s Congress trying to enact energy reform amid falling production rates

05/16/2014

It easily could take longer than many might expect before state-run Petroleos Mexicanos (Pemex) and other companies are able to unlock Mexico’s vast oil and gas resources, said Jordy Herrera, the nation’s immediate past secretary of energy, told a Meyer Brown energy conference in Houston on May 15.

IEA: Downside risk presents on non-OPEC oil production outlook

05/16/2014

In April, continued tensions between Russia and Ukraine, supply outages in Libya and northern Iraq, and increased crude buying as refiners come out of maintenance turnarounds combined to offset the impact of seasonally weaker demand and pushed up oil prices marginally, the International Energy Agency said in its most recent Oil Market Report.

State error delays permitting for Montana refinery project

05/16/2014

The Montana Department of Environmental Quality (DEQ) is reopening the public comment period for a preliminary decision to approve an air quality permit for Calumet Specialty Products Partners LP’s low-sulfur fuels expansion project at its 10,000-b/d refinery along the Missouri River in Great Falls, Mont., following a notification oversight by the state agency.

Ramnarine: Easing of tight gas supplies in Trinidad and Tobago might take years

05/15/2014

Trinidad and Tobago’s Energy Minister Kevin Ramnarine is now saying that it could take as long as 2 years before there is any easing in the tight supply-demand relationship of natural gas in the Caribbean twin-island nation.

MRPL commissions hydrotreater at Mangalore refinery

05/15/2014

Mangalore Refinery & Petrochemicals Ltd. (MRPL), a subsidiary of India’s Oil & Natural Gas Corp. Ltd., has commissioned a 650,000 tonne/year coker heavy gas oil hydrotreating unit (CHTU) at its 194,000-b/d refinery in Mangalore, India.

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