Crude oil for December delivery fell 55¢ on the New York market Oct. 29 to settle just above $67/bbl while Brent crude oil for December fell 28¢ to hold above $77/bbl in London. Analysts attributed the price drops to a strengthening US dollar and a weekly rig count report that showed US oil drillers added […]
Deloitte: Downstream, chemicals are ‘bright spots’ in industry outlook
A majority of oil, gas, and chemicals executives are confident in the industry’s continued recovery and expect the price of West Texas Intermediate crude to average $70/bbl or more in 2020, according to a recently released survey conducted by Deloitte. While in the 2018 Oil, Gas & Chemicals Executive survey—released Oct. 30—72% of executives held […]
PDO lets contract for solar IPP project
Petroleum Development Oman is expanding its involvement in solar energy. The state-owned company let a contract to a consortium led by Marubeni Corp. for a 100-Mw independent power producer project that will supply its power needs. Source: News
RAK Gas unit to explore in Zanzibar
Zanzibar, a semiautonomous region of Tanzania, will accommodate its first oil and gas exploration under a production sharing agreement with a unit of state-owned RAK Gas LLC, Ras Al Khaimah. Source: News
Watching Government: ACP clears Virginia hurdle
Virginia’s Department of Environmental Quality (DEQ) approved erosion and sediment control, stormwater management, and karst protection plans for the Atlantic Coast natural gas pipeline (ACP) on Oct. 19. Source: News
EPA proposes revisions in oil, gas operations’ emissions limits
The US Environmental Protection Agency proposed changes in regulations it issued in 2016 limiting emissions at oil and gas operations. Source: News
APICORP: MENA energy spend continues to be heavy
The Middle East and North Africa (MENA) region will see a number of critical energy projects pushed through over the next 5 years despite uncertainties that cloud the investment outlook, according to APICORP Energy Research. Source: News
US Tenth District energy activity accelerated in 3Q
The Federal Reserve Bank of Kansas City’s third-quarter energy survey revealed accelerated growth in energy activity in the Tenth District, while expectations for future activity remained high. Source: News
Eni signs agreement for stake in North Berkine basin concessions
Executives of Italy’s Eni SPA and Algeria’s Sonatrach signed an agreement that will see Eni take a 49% stake in three oil concessions in the onshore North Berkine basin in the Algerian desert. The agreement will cover three areas: Sif Fatima II, Zemlet El Arbi, and Ourhoud II. Sonatrach will retain a 51% stake. Source: […]
Eni, Total partner with Sonatrach for exploration off Algeria
Executives of Italy’s Eni SPA, France’ Total SA, and Algeria’s Sonatrach have signed two agreements that include an exclusive partnership for exploration offshore Algeria in a virtually unexplored geological province. Eni and Total also will pursue obtaining exploration permits that will allow for the completion of the hydrocarbon potential assessment, the companies said. Source: News