OGJ NEWSLETTER

As oil market analysts dust off crystal balls again with the onset of the new year, the trend seems to be to join the bears' bandwagon. Salomon Bros. sees an oil price slump as nearly unavoidable because the Saudis are unlikely to cut production a required 2.5-3 million b/d to offset expected effects of rising Kuwaiti production and resumed Iraqi exports in the first quarter. And that means oil touching $15/bbl or less the next several months before economic recovery and multilateral

Dec 30th, 1991

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191010 Equinor Aussie Permit Map

Equinor awarded permit off Western Australia

Equinor AS has been awarded exploration acreage in the Northern Carnarvon basin on the North West Shelf offshore Western Australia. Block WA-542-P, operated and held 100% by Equinor, lies west of the Dorado oil discovery.

191009 Rystad Discoveries Chart

Rystad: Oil and gas resource replacement ratio lowest in decades

Oil and gas companies have discovered 7.7 billion boe year-to-date, according to Rystad Energy’s latest global discoveries report.

191009 Honeywell Uo Turkey C3 Oleflex

Turkish operator lets contract for country’s first PDH unit

Ceyhan Polipropilen Uretim has let a contract to Honeywell UOP to provide process technology for propylene production at a grassroots petrochemical complex in the Ceyhan Mega Petrochemistry Industry Zone of Ceyhan, Turkey.

The Stena Forth drillship in Ghana.

Local firm spuds deepwater well off Ghana

Springfield Exploration & Production Ltd., Accra, has spudded the first of two deepwater wells planned on its West Cape Three Points Block 2 offshore Ghana.

The Santos/Carnarvon Petroleum JV has concluded its 2019 drilling program at Dorado oil and gas field in the Bedout subbasin offshore Western Australia

Success in Dorado-3 second test enhances field expectations

The Santos Ltd./Carnarvon Petroleum Ltd. joint venture has announced a successful conclusion to its 2019 drilling program at Dorado oil and gas field in the Bedout subbasin offshore Western Australia.

The government of India is extending an additional line of credit to the government of Mongolia for the country’s first refinery project now under construction in the southeastern province of Dornogovi.

India ramps up support for new Mongolian refinery

The government of India is extending an additional $236-million line of credit to the government of Mongolia for the country’s first refinery project now under construction on 150 hectares in Altanshiree Soum near Sainshand.

A Total subsidiary has started construction of its third and largest solar plant in Japan.

Total building third Japanese solar park

A wholly owned Total subsidiary has started construction of its third and largest solar plant in Japan.

191004 Husky Prince George Refinery

Husky finds buyer for Prince George refinery

Husky Energy Inc. has agreed to sell its 12,000-b/d refinery in Prince George, BC, to Tidewater Midstream & Infrastructure Ltd. for $215 million (Can.) in cash plus a closing adjustment for inventory.

191003 Hgsl Tolmount Diagram

Tolmount platform in UK North Sea gets installation operator

Humber Gathering System, a Kellas Midstream company, and Dana Petroleum have appointed ODE Asset Management as installation operator of the Tolmount platform, a normally unattended installation in the southern UK North Sea.

Top 10 US upstream deals of 3Q 2019, Enverus.

US oil and gas M&A activity maintains momentum in third quarter

US oil and gas mergers and acquisitions activity surpassed $17 billion in this year’s third quarter, maintaining the momentum established in the second quarter, according to a recent report from Austin-based oil and gas data analytics company Enverus.

191002 Aker Bp Valhall Rendition

Valhall West Flank facility start-up approved

The start-up of the Valhall West Flank facility in the North Sea has been approved by the Norwegian Petroleum Directorate. The facility is a further development of Valhall field in the southern part of the Norwegian Continental Shelf, 290 km offshore.

191002 Ihs Markit Nfw Chart

IHS Markit: Conventional oil, gas discoveries at 70-year low

Conventional oil and gas discoveries during the past 3 years are at the lowest levels in 7 decades and a substantial rebound is not expected, said IHS Markit in a recent report.

191001 Hibernia Restart Platform

Hibernia oil production restarting again

Production is resuming at Hibernia oil field offshore Newfoundland and Labrador after a second shutdown forced by an oil release, reports Hibernia Management & Development Co. Ltd., the operator.

190930 Husky Superior Refinery

Husky advances Superior refinery rebuild, revamp

Husky Energy Inc. has received required permit approvals to begin reconstruction of its 47,500-b/cd refinery in Superior, Wis., after a fire that broke out at the site on Apr. 26, 2018.