The US drilling rig count was up 1 unit to 1,068 rigs working for the week ended Oct. 26, according to Baker Hughes data. The count is up 159 units from the 909 rigs working this time a year ago. Source: News
Production restarted from Erskine field
Production from Erskine gas and condensate field in the UK North Sea has been restarted, reported project partner Serica Energy PLC. Formation of gas hydrates had delayed the restart of the field, where production was suspended on Jan. 16 because of a blocked condensate pipeline. Source: News
Cairn-led group submits SNE field development plan
The Edinburgh-based Cairn Energy PLC-led joint venture offshore Senegal has submitted its development and exploitation plan for the SNE oil and gas field to the Senegalese government, targeting the start of oil production in 2022 and the start of gas production in 2024. Source: News
Aramco to partner on Zhejiang Petrochemical’s integrated complex
Saudi Aramco has signed a memorandum of understanding with Zhejiang Petroleum & Chemical Co. Ltd., also known as Zhejiang Petrochemical Co. Ltd. (ZPC), to acquire ownership interest in ZPC’s grassroots 40 million-tonne/year refining and chemical integrated complex currently under construction in Zhoushan, Zhejiang Province, China. Source: News
MARKET WATCH: NYMEX crude oil prices rise on stabilizing US stock market
Light, sweet crude oil prices gained modestly to settle above $67/bbl on the New York market Oct. 25 while Brent crude oil prices also rose to close above $76.80/bbl. Upward momentum in oil prices followed stabilizing equity markets. US stock markets experienced another selloff Oct. 24. The Dow industrials dropped more than 600 points. But […]
Chatterjee named chairman of FERC
Commissioner Neil Chatterjee has been designated chairman of the US Federal Energy Regulatory Commission, replacing Kevin J. McIntyre, who will continue as a commissioner. Source: News
Chevron resolves claims over violations at California refineries
The US Environmental Protection Agency, the US Department of Justice, and the Mississippi Department of Environmental Quality have reached a national settlement with Chevron Corp. that will require subsidiary Chevron USA Inc. to implement safety improvements at all its US refineries. Source: News
BOEM approves Liberty project off Alaska
Hilcorp Alaska LLC has received conditional development and production approval from the US Bureau of Ocean Energy Management for the Liberty oil and natural gas project offshore Alaska. If the company proceeds, the production facility would be the first in federal water off Alaska. Source: News
Woodside’s Greater Western Flank Phase 2 comes on stream
The Woodside Petroleum Ltd.-led North West Shelf Project joint venture has started gas production from its Greater Western Flank Phase 2 project off Western Australia. Woodside’s Chief Executive Officer Peter Coleman said GWF-2 had been delivered $630 million (Aus.) below the initial estimate of $2 billion and 6 months ahead of schedule. Source: News
MARKET WATCH: Brent crude edges lower; NYMEX pushes past $66/bbl
Crude oil prices were mixed on the New York and London markets Oct. 24 after the US Energy Information Administration showed a build in US oil inventories. In its weekly petroleum status report, the EIA said US commercial crude inventories increased by 6.3 million bbl for the week ended Oct. 19. Source: News