Shareholders of both Marathon Petroleum Corp. and US independent Andeavor, formerly Tesoro Corp., have voted to approve the combination of the two companies to create the largest US refiner by capacity and one of the top five largest refiners globally. Source: News
CME Group to launch physical WTI Houston crude oil futures contract
CME Group will offer a new West Texas Intermediate Houston crude oil futures contract with three physical delivery locations on the Enterprise Houston system. Pending regulatory review, WTI Houston oil futures will be listed with and subject to the rules of the New York Mercantile Exchange, beginning with the January 2019 contract month. Source: News
Valeura plans Yamalik appraisal in Turkey
Valeura Energy Inc., Calgary, soon will spud Inanli-1, the first of three appraisal wells planned for its Yamalik-1 discovery in Northwest Turkey, newly recompleted for the start of a long-term production test. Source: News
Tullow reports Cormorant-1 well off Namibia comes up dry
Tullow Oil PLC group’s much-touted offshore Namibian wildcat, Cormorant-1, has been plugged and abandoned as a dry hole in the Walvis basin about 420 km south of the Angola-Namibia border. Joint venture partner Pancontinental Oil & Gas NL, Perth, said the well in permit PEL 37 reached a total measured depth of 3,855 m materially […]
Turkish Petroleum lets contract for rig in Mediterranean Sea
Turkish Petroleum has let a two-well contract to Rowan Cos. PLC for its Rowan Norway, an N-Class ultra-harsh environment jack up rig, for use in the Mediterranean Sea. Source: News
Total makes gas discovery offshore UK
Total SA made a natural gas discovery on the Glendronach prospect offshore UK West of Shetland that it believes can be commercialized quickly and at low cost by leveraging the existing Laggan-Tormore infrastructure. Source: News
Enable Midstream plans Gulf Run gas pipeline to Gulf Coast
Enable Midstream Partners LP, Oklahoma City, launched a nonbinding open season to gather additional interest for firm natural gas transportation capacity on the Gulf Run Pipeline, a planned interstate transportation project designed to connect US gas supplies to LNG export markets on the Gulf Coast. Source: News
MARKET WATCH: NYMEX oil price drops on slightly lower US rig count
The light, sweet crude oil prices for November rose modestly Sept. 21, settling above $70/bbl on the New York market for a third consecutive day before a weekend meeting of the Joint Ministerial Monitoring Committee (JMMC), representing nations coordinating oil supply. Source: News
Trump misfires in tweet on OPEC and oil prices
For US President Donald Trump, the tweeted blurt has become a signature tool of policy expression. Source: News
API: US petroleum net imports increased strongly on falling exports
The US has reached a new record for crude oil production of 10.8 million b/d over the past 2 months, but petroleum exports decreased by 1.3 million b/d since June, according to a recent industry outlook for the third quarter from the American Petroleum Institute. The nation’s overall petroleum trade balance went from net imports […]