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Unite Oil and Gas Operations with Onshore/Offshore Data Replication

Unite Oil and Gas Operations with Onshore/Offshore Data Replication

Staying on the Same Page An Enterprise software vendor committed to the offshore gas industry-like IFS-will have a standard, embedded solution that will minimize cost and risk and implement more reliably than a one-off solution.

Saudi officials see early supply recovery

Saudi Arabia’s oil production will recover faster than initially feared from damage inflicted by unmanned aircraft Sept. 14 to the Abqaiq crude oil processing complex and Khurais oil field, Saudi officials say.

Murkowski calls for DOE to monitor IMO 2020 implementation impacts

US Sen. Lisa Murkowski, chair of the Senate Energy and Natural Resources Committee, has recommended that the Department of Energy monitor impacts as the country implements the International Maritime Organization’s stricter sulfur limits starting Jan. 1.

EIA: US crude inventories up 1.1 million bbl

US crude oil inventories for the week ended Sept. 13, excluding the Strategic Petroleum Reserve, increased 1.1 million bbl from the previous week, according to data from the US Energy Information Administration.

Harris named E&P executive vice-president at Devon

David Harris has been promoted to executive vice-president, exploration and production, at Devon Energy Corp. He succeeds Tony Vaughn who will retire after 20 years of service with the company.

US House bill introduced to raise federal onshore leasing bonds

US Rep. Alan Lowenthal (D-Calif.) introduced a bill that would increase bonds that oil and gas developers must post before being allowed to drill on federal onshore public lands.

MARKET WATCH: NYMEX drops under $60/bbl, Brent under $65/bbl

Light, sweet crude prices dropped more than $3/bbl in New York and Brent fell more than $4/bbl in London Sept. 17 after Saudi Arabia said it has already restored some crude oil production that was lost to attacks on a processing complex and an oil field.

DOE to invest in offshore enhanced oil recovery R&D projects

The US Department of Energy will invest nearly $9 million in three offshore enhanced oil recovery research and development projects, DOE’s Fossil Energy Office reported.

Corson succeeding Kruger at Imperial helm

B.W. Corson has been appointed president of Imperial Oil Ltd., Calgary, and will become chairman and chief executive officer as well on Jan. 1.

MARKET WATCH: Oil price benchmarks jump about $8/bbl

Light, sweet crude prices soared by about $8/bbl on markets in New York and London Sept. 16 as investors evaluated the effects on Saudi crude oil production following drone strikes that knocked out 5.7 million b/d.

Attacks in Saudi Arabia rock oil market

The loss of 5.7 million b/d of Saudi crude oil production to airborne incursion on Sept. 14 shoved the oil market into panicky adjustment and raised worry about retaliation in an always-tense region.

Energy Transfer to acquire SemGroup in $5-billion deal

Energy Transfer will acquire SemGroup in a deal valued at $5 billion, the acquiring company reported Sept. 16. The acquisition will increase Energy Transfer’s scale across multiple regions and provide increased connectivity for its oil and NGL businesses.

190916 Rystad Saudis Stocks Graph

Rystad: Oil price spike likely short-lived after Saudi drone attack

The drone attack on the world’s largest oil processing facility, Abqaiq in the heart of Saudi Arabia’s oil industry, forced Saudi Aramco to shut in 5.7 million b/d of crude production, or roughly 7% of the current global crude and condensate production.

MARKET WATCH: Crude prices end week lower before drone attack on Saudi facilities

Light, sweet crude oil for October fell to settle below $55/bbl in New York while Brent in London settled just above $60/bbl on Sept. 13. Prices ended the week down before news of a Sept. 14 attack on oil facilities in Saudi Arabia pushed prices higher.