OAO Lukoil reported plans to sell its 50% stake in Caspian Investment Resources Ltd. (CIRL) to Sinopec for about $1.2 billion. Closing is expected before yearend.
technology and CATOFIN catalyst to process isobutane feed for the production of 114,000 tonnes/year of isobutylene, the company said. Isobutylene will be used as a building block to produce methyl tertiary butyl ether and other downstream products
crude oil processing capacity of 11,000 b/d, which Black Diamond plans to increase by 22,000 b/d starting in May, the company said. With proved and probable reserves totaling 607 million bbl of an estimated 1.7 billion bbl of oil in place, Taq Taq
disclosed, Foster Wheeler will design the incinerator in accordance with the CO emissions requirements of the new complex, the company said. Foster Wheeler said expects to ship the CO incinerator on a FOB basis as a single module during second-quarter 2015
London, said last month the Rowan Renaissance drillship had arrived in Namibia under a 3-year contract with the Spanish company and was being prepared and tested for the work. Tullow holds a 65% interest in 17,295-sq-km EL 0037. Pancontinental
intends to divest assets in the Hugoton and Panhandle West fields in Sherman and Moore counties in the Texas Panhandle. The company will retain deep rights below the base of the Brown Dolomite, it said. BP owns more than 270,000 gross acres in the two counties
The crude oil futures contract trended higher at the close of the week ended Apr. 11.
Continued growth in US natural gas production and substantially lower gas prices compared with crude oil prices lead to strong potential for fueling freight locomotives with LNG, according to the US Energy Information Administration’s Annual Energy Outlook 2014 (AEO2014).
The Papua New Guinea government has approved Horizon Oil Ltd.’s proposed $300 million development of the Stanley gas-condensate field in the country
US Senate Energy and Natural Resources Committee leaders asked the Energy Information Administration to conduct a more extensive analysis of possible consequences from lifting or easing the ban on exporting domestically produced crude oil.