Russia hopes to resume pipeline imports of natural gas from Turkmenistan after slashing them in 2015 in a dispute over pricing. According to Radio Free Europe, Gazprom CEO Aleksei Miller told an interviewer from a state-controlled television station in Ashgabat that he expects purchases to restart early next year. Source: News
McDermott details contract award for Ineos PDH unit
McDermott International Inc. (formerly CB&I) has confirmed details of its scope of work on an earlier awarded contract by Ineos AG for a propane dehydrogenation (PDH) unit the operator plans to build alongside a gas cracker in northwestern Europe. Source: News
Eni to farm in to BP’s Libyan blocks
Exploration is to resume next year on three Libyan blocks now operated by BP PLC after a planned farmin by Eni SPA. The companies and National Oil Corp. signed a letter of intent to work toward Eni’s acquisition by yearend of a 42.5% participating interest in BP’s exploration and production-sharing agreement. Source: News
Shell unit advances construction at Appalachian ethylene complex
Shell Chemical Appalachia has completed installation of major equipment at its long-planned grassroots petrochemical complex currently under construction along the Ohio River in Potter Township, Beaver County, Pa., about 30 miles northwest of Pittsburgh. The heavy lift of the 2,000-tonne, 87-m tall quench tower was undertaken on Oct. 7 and is now completed, Shell said. […]
Moody’s: Permian basin pipeline constraints to limit 2019 production
A lack of pipelines to carry oil and natural gas out of the Permian basin in West Texas and southeastern New Mexico will limit exploration and production and weaken realized prices until late 2019, when new pipeline capacity comes online, Moody’s Investors Service said in a recent report. Source: News
IPC agrees to acquire BlackPearl Resources
International Petroleum Corp., Vancouver, BC, has agreed to acquire BlackPearl Resources Inc., Calgary, in an all-stock deal that would create a company with an enterprise value of $1.36 billion (US), proved plus probable reserves of 291 million boe, and production of 44,500 boe/d. Source: News
Equinor granted consent for continued use of Snorre A, B through 2040
Equinor ASA has received consent from the Norwegian Petroleum Directorate to continue use of the Snorre A and Snorre B facilities in Snorre oil and gas field in the Tampen area of the Norwegian North Sea through 2040. Previous consent was use of Snorre A until May 1, 2022, and Snorre B until May 1, […]
MARKET WATCH: NYMEX November contract gained to settle just below $75/bbl
Light, sweet crude oil prices gained on the New York market to settle just below $75/bbl on Oct. 9 while Brent crude prices climbed by more than $1 to settle at $85/bbl. Market participants on Oct. 10 closely monitored a hurricane in the Gulf of Mexico headed toward Florida. Source: News
Kosmos to plug Pontoenoe test off Suriname
Kosmos Energy will plug its Pontoenoe-1 exploration well in 2,497 m of water offshore Suriname after determining the main, Late Cretaceous target reservoir was water-bearing. The Block 42 well went to 6,194 m about 280 km northwest of Paramaribo. It tested a stratigraphic trap thought to be sourced from oil-mature Albian and Cenomanian-Turonian source kitchens. […]
Trump orders EPA to waive volatility limits for E15
US President Donald Trump ordered the US Environmental Protection Agency to waive volatility limits for gasoline with a 15% blend, facilitating its year-round sale in the country. Agricultural and ethanol interests applauded the Oct. 9 move, while the oil and gas industry and environmental organizations strongly condemned it. Source: News