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  • Volume 121, Issue 11

    • Volume 121, Issue 11

    Nov. 6, 2023 | Petrobras plans to complete installation of a new hydrotreater at its 434,000-b/d REPLAN refinery in Paulínia, São Paulo, Brazil, that will produce 63,000 b/d of low-sulfur S-10 diesel beginning second-half 2025. The operator is also evaluating a potential project involving revamp of REPLAN’s existing coker that, if approved, could result in a 10,000-b/d expansion of the unit’s processing capacity by yearend 2027. Photo from Petrobras.
    General Interest

    OGJ Newsletter

    Nov. 7, 2023
    A roundup of General Interest, Exploration & Development, Drilling & Production, Processing, and Transportation news from around the industry.
    General Interest

    Journally Speaking: Crack spread, pump prices drop

    Nov. 7, 2023
    US gasoline prices are gradually falling as the end of the summer driving season moves demand down despite the Israel-Hamas war.
    Government

    Editorial: Offers and outrage

    Nov. 7, 2023
    Another month and another example of the Biden administration angering nearly everyone by trying to ‘split the baby’ with its energy policy.
    General Interest

    Biden administration suspends Venezuelan oil and gas sanctions

    Nov. 7, 2023
    The Biden administration will temporarily suspend sanctions on exports of Venezuelan oil and investments in the country’s oil and gas sector now that progress has been announced...
    General Interest

    Chesapeake considers second-half 2024 Haynesville rig addition

    Nov. 7, 2023
    Chesapeake Energy Corp., Oklahoma City, expects to add a rig to its Haynesville shale operations in second-half 2024 if Gulf Coast LNG export plants are brought into service as...

    More content from Volume 121, Issue 11

    General Interest

    ExxonMobil to acquire Pioneer Natural Resources

    Nov. 7, 2023
    Exxon Mobil Corp. has agreed to acquire Pioneer Natural Resources in a $64.5-billion stock deal (including net debt) that more than doubles the oil and gas major’s Permian basin...
    General Interest

    Enterprise to further expand Permian gas processing, pipeline network

    Nov. 7, 2023
    Enterprise Products Partners LP is investing more than $3 billion on a series of new projects to further expand its existing natural gas processing and gathering systems in the...
    General Interest

    Biden administration grants $7 billion in funding to seven US hydrogen hubs

    Nov. 7, 2023
    US President Joe Biden and Energy Secretary Jennifer Granholm have announced the seven recipients of $7 billion in federal grants to accelerate development of regional hydrogen...
    Photo from Hess Corp.
    Tubular Bells, a Hess-operated deepwater development in the Gulf of Mexico, was sanctioned in 2011 and fast-tracked with an execution schedule to first oil in 3 years.
    General Interest

    Hess raises net oil, gas production guidance

    Nov. 7, 2023
    Hess Corp. raised its net oil and gas production guidance to 390,000 boe/d, which is the upper end of previous guidance of 385,000-390,000 boe/d.
    General Interest

    Matador hits production records, confirms Delaware basin gas processing capacity expansion

    Nov. 7, 2023
    Matador Resources Co., Dallas, reached record production in this year’s third quarter and confirmed a decision to expand its Delaware basin gas processing capacity.
    General Interest

    IEA: US September gasoline consumption fell to lowest level in two decades

    Nov. 7, 2023
    The International Energy Agency’s (EIA) October Oil Market Report revealed preliminary data for September, indicating signs of falling demand, notably in the US, where gasoline...
    General Interest

    IEA: US September gasoline consumption fell to lowest level in two decades

    Nov. 7, 2023
    The International Energy Agency’s (EIA) October Oil Market Report revealed preliminary data for September, indicating signs of falling demand, notably in the US, where gasoline...
    General Interest

    Chevron’s third-quarter profit slumps on lower commodity prices

    Nov. 7, 2023
    Chevron Corp. earned $6.5 billion for third-quarter 2023, down from $11.2 billion in the same period last year, primarily due to lower upstream realizations and lower margins ...
    General Interest

    Equinor reduces 2023 production growth forecast to 1.5% from 3%

    Nov. 7, 2023
    Equinor Energy has downgraded its production 2023 growth guidance to 1.5% from 3% because of gas production impacts from planned maintenance and unplanned extended turnarounds...
    General Interest

    EIA: US natural gas production to grow on high Permian well productivity, crude oil prices

    Nov. 7, 2023
    In its latest Short-Term Energy Outlook, the US Energy Information Administration (EIA) projects that natural gas production in the Lower 48 states of the US will grow by 5% (...
    Photo from Vista Energy.
    Vista already operates in Vaca Muerta and is in talks with ExxonMobil regarding potential farm-in or acquisition opportunities (Fig. 1).
    General Interest

    South America M&A deals limited, shift towards local capital

    Nov. 7, 2023
    A negative global economic outlook and complex regional conditions will combine with low regional economic growth through 2024 to limit oil and gas-sector merger and acquisition...
    Orinoco Belt (Fig. 1).
    Exploration & Development

    Polymer flooding can increase Orinoco Belt recovery

    Nov. 6, 2023
    The Orinoco Belt in eastern Venezuela extends across 55,000 sq km and holds about 90% of the world’s proven heavy and extra-heavy oil reserves. It is, however, the world’s least...
    Exploration & Development

    Pilot projects reduce frac hits in Vaca Muerta formation

    Nov. 6, 2023
    The Vaca Muerta (VM) formation is the main source rock and one of the largest areal stratigraphic units in Neuquén basin, Argentina.
    Photo from Petrobras.
    Ongoing optimization and upgrading work at Petrobras’s REPLAN refinery resulted in the site achieving its highest utilization rate on record during September 2023 (Fig. 1).
    Refining & Processing

    Petrobras positioning refining business for sustainable future

    Nov. 6, 2023
    Petróleo Brasileiro SA (Petrobras) as part of the company’s 2023-27 strategic plan expanded its program to modernize refining assets not included in its ongoing downstream divestment...
    Chimarrão Natural Gas Pipelines. (Fig. 1.)
    Pipelines

    Brazil still studying Chimarrão natural gas pipeline

    Nov. 6, 2023
    Initial studies by Brazil’s Ministry of Mines and Energy are ongoing regarding the 1,237-km Bilac-Santa Maria and 1,168-km Penápolis-Canoas natural gas pipelines.
    TGN’s Northern Gas Pipeline transports 10.22 bcmy (Fig. 1).
    Pipelines

    South American pipeline projects seek economic certainty

    Nov. 6, 2023
    South American oil and gas infrastructure development activity has been limited in recent years with the exceptions of Brazil, Guyana, and Argentina.