Most Recent Stories

IOC nears start-up of Paradip refinery; expands FCCU capacity at Mathura

08/14/2014

Indian Oil Corp. Ltd. (IOC) is near to commissioning its long-delayed 300,000-b/d, full-conversion refinery at Paradip, on India’s northeastern coast.

EPA extends comment period for proposed refinery regulations

08/14/2014

The US Environmental Protection Agency has extended the public comment period by 60 days for its proposed rule that would force petroleum refiners to implement additional controls on toxic air emissions from their refineries.

Iraq: Kuwait Energy, Dragon Oil drilling well on Block 9

08/14/2014

An onshore exploration well being drilled on Iraq’s Block 9 has reached the first of its two targets, Dragon Oil PLC said in a statement posted on its web site regarding 2014 interim operating results.

MOL to develop two areas of Kurdish block

08/14/2014

A wholly owned subsidiary of MOL Group, Budapest, plans to produce at least 50,000 boe/d of oil and natural gas from the Akri-Bijeel Block in the Kurdistan region of Iraq by 2017-18.

MRPL updates Mangalore refinery expansion

08/14/2014

Mangalore Refinery & Petrochemicals Ltd. (MRPL), a subsidiary of Oil & Natural Gas Corp. Ltd., is in the final stages of completing a long-delayed expansion project at its 194,000-b/d refinery in Mangalore, India.

Shell reshuffles US shale assets in two major deals

08/14/2014

Royal Dutch Shell PLC has agreed to two separate transactions in which it will exit its Pinedale and Haynesville onshore gas assets in exchange for $2.1 billion in cash and acreage in the Marcellus and Utica shale regions.

Rex Energy to acquire Marcellus, Utica acreage

08/14/2014

Rex Energy Corp., State College, Pa., has agreed to acquire 100% interest in 208,000 gross acres prospective for the Marcellus, Upper Devonian-Burkett, and Utica shales in Pennsylvania and Ohio from Swepi LP, an affiliate of Royal Dutch Shell PLC, for $120 million in cash. The transaction is expected to close in September.

BP gives nod for Juniper gas project off Trinidad and Tobago

08/14/2014

BP PLC has given approval for its Trinidad and Tobago subsidiary BP Trinidad & Tobago LLC to proceed with its Juniper natural gas project.

Beach’s Balgowan-1 extends oil fairway in Cooper basin

08/14/2014

Following recent discoveries in PEL 91, Beach Energy Ltd. reported an oil discovery in the Namur sandstone and McKinlay member at its Blagowan-1 exploration. The company confirmed an extension of the oil fairway to the northeast of its Stunsail-1 wildcat and Pennington-2 appraisal well on the western flank of the Cooper basin in South Australia.

Near-shore drilling to start in Suriname

08/14/2014

Drilling is to start by December in a nine-well exploratory program by State Oil Co. Suriname NV (Staatsolie) on near-shore Block 4 in Suriname.

MARKET WATCH: Brent crude oil futures snap losing streak

08/14/2014

Oil prices rose modestly on the New York market Aug. 13 while oil prices ended a 3-day losing streak on the London market by rallying more than $1/bbl.

EIA: July Brent prices drop on reduced market risk

08/13/2014

In the August issue of its Short-Term Energy Outlook (STEO), the US Energy Information Administration maintains its 2014 US liquid fuels consumption forecast at 18.88 million b/d as projected in July compared with 18.89 million b/d in 2013. The 2015 consumption is set at 18.98 million b/d, 30,000 b/d higher than projected in last month’s STEO.

Work begins on Jordan LNG import-terminal jetty

08/13/2014

Aqaba Development Corp. contractor BAM International BV has begun work on the jetty for Jordan’s planned floating storage and regasification unit (FSRU) project at Aqaba, at the top of the Gulf of Aqaba. ADC expects work on the jetty to be complete in April 2015.

ExxonMobil lets contract for Texas ethylene expansion

08/13/2014

ExxonMobil Corp. has let a contract to Jacobs Engineering Group Inc. to provide engineering, procurement, and construction services as part of a multibillion dollar ethane cracker project at its Baytown, Tex., complex and associated premium product installations in Mont Belvieu, Tex.

Petrobras confirms extension of Jupiter oil discovery

08/13/2014

Petroleo Brasileiro SA (Petrobras) reported that the 3-BRSA-1246-RJS well proved an extension of the Jupiter oil discovery on Block BM-S-24 in the presalt Santos basin.

API urges EPA to expedite 2014 RFS requirements

08/13/2014

The American Petroleum Institute once again has called on the US Environmental Protection Agency to transcend its pattern of missing self-pronounced deadlines and to finalize requirements under the federal 2014 Renewable Fuels Standard (RFS) as soon as possible.

MARKET WATCH: Brent crude oil futures down on lower IEA oil demand forecast

08/13/2014

Oil prices settled about 70¢ lower on the New York market Aug. 12 while oil prices on the London market plunged more than $1 to their lowest level since early July 2013 following a report from the International Energy Agency, which lowered its oil demand forecast.

API leads industry call for more OCS access in next 5-year program

08/13/2014

The Obama administration should consider all parts of the US Outer Continental Shelf for leasing in the 2017-22 OCS program it has begun to prepare so future national energy policy options can be maximized, the American Petroleum Institute and 10 other oil and gas trade associations jointly said.

Numaligarh refinery expansion plans progress

08/13/2014

Bharat Petroleum Corp. Ltd. (BPCL), Mumbai, has let feasibility studies to Engineers India Ltd. (EIL) for projects related to the long-planned expansion of its 3 million tonne/year Numaligarh refinery in the Golaghat district of Assam in far-northeastern India.

PennEast to build $1-billion Marcellus pipeline

08/12/2014

PennEast Pipeline Co. LLC plans to construct a $1-billion, 100-mile pipeline extending from Luzerne County in northeastern Pennsylvania to Transco’s Trenton-Woodbury interconnection in New Jersey.

Maersk Oil lets FEED contract for Culzean project in North Sea

08/12/2014

Maersk Oil UK has let a 10-month front-end engineering and design contract to Intecsea, a unit of WorleyParsons Group, for work on its Culzean ultra high-pressure, high-temperature gas-condensate development about 145 miles east of Aberdeen in the UK central North Sea.

IEA: Oil demand growth forecast lowered on downgraded economic outlook

08/12/2014

The global oil demand growth forecast for 2014 has been curtailed since last month’s report to a more modest 1 million b/d, according to the International Energy Agency’s most recent Oil Market Report.

EIA: Utica gas output to reach 1.3 bcfd in September

08/12/2014

Total natural gas production in Ohio’s Utica region—which includes production from the Utica and Point Pleasant formations as well as legacy production from conventional reservoirs—is expected to increase to 1.3 bcfd in September from just 155 MMcfd in January 2012, according to the US Energy Information Administration’s Drilling Productivity Report (DPR).

Operators to spud exploration well on Block 53 offshore Suriname in 2015

08/12/2014

Apache Suriname Corp. LDC, a subsidiary of Apache Corp., Houston, will spud its first exploration well in February-April 2015, 80 miles offshore Suriname in the Suriname Guyana basin. The well will be drilled to 5,000 m in 650 ft of water, as confirmed by Marny Daal-Vogeeland, Staatsolie Maatschappij Suriname NV’s manager of petroleum contracts.

Columbia to build Marcellus-Utica gas pipeline

08/12/2014

Columbia Gas Transmission (CGT), part of NiSource Inc.’s Columbia Pipeline Group, will build a 160-mile natural gas pipeline, Leach XPress, in Ohio and West Virginia, supporting gas supply development in western Pennsylvania, northern West Virginia, and eastern Ohio.

Stay Connected