As noted here last week, a new report by the International Energy Agency describes a future for petrochemicals that oil and gas companies should find comforting and challenging Source: News

MMEX Resources has let a contract to Blanchard Industrial to provide engineering, procurement, and construction on the first 10,000-b/d phase of its proposed Pecos County, Tex., refinery near the Sulfur Junction spur of the Texas Pacifico railroad, about 20 miles northeast of Fort Stockton. Source: News

Oil and gas companies are increasingly honing their use of artificial intelligence (AI) in their day-to-day operations to keep costs low and to retain vital information. Source: News

Imperial Oil Ltd. has restarted production at its Norman Wells operations in the Northwest Territories following the return to service of Enbridge Inc.’s Line 21 pipeline. Imperial had previously resumed limited shipments of crude oil from storage in September. The company expects production to ramp up in the months ahead to about 10,000 b/d, consistent […]

Gazprom plans to start drilling production wells next year in Kovyktinskoye natural gas and condensate field in the Irkutsk Region of East Siberia. The state-owned company expects the field to start production in 2022 into the Power of Siberia gas pipeline, which will carry gas to Russia’s Far East and China. Source: News

BP expects production to begin in 2020 from Alligin oil field in the North Sea, for which it has received development approval from the UK Oil & Gas Authority. Alligin is a 20 million-bbl recoverable oil field in the Greater Schiehallion area about 140 km west of Shetland in 475 m of water. It is […]

Strike Energy Ltd., Adelaide, has made an off-market takeover offer UIL Energy Ltd. of Brisbane. Under the offer, UIL shareholders will receive 0.485 of a share of Strike for each share of UIL—a deal that implies an indicative price for UIL of 7.03¢/share and an indicative market capitalization of $16.1 million (Aus.). Source: News

Malaysia’s state-held Petronas has acquired a 10% stake in BP PLC-operated Khazzan field in the Oman Desert 350 km south of Muscat. Petronas unit PC Oman Ventures will acquire the share in Block 61. BP currently holds 60% interest in the Khazzan project, which encompasses Khazzan and Makarem tight gas fields. State-owned Oman Oil Co. […]

Equinor ASA has let a two-well contract with five options for single-well drilling to Rowan Cos. PLC for its Rowan Stavanger N-Class ultra-harsh environment jack up rig for use in Gudrun field in the Norwegian North Sea. In addition, Equinor and Rowan have signed a framework agreement based on terms that will also apply to […]

The surge in production of associated and nonassociated natural gas from US shale gas and tight oil plays, combined with a wave of new petrochemical steam-crackers coming online, has created a major pinch-point for producers and purchasers of those ethane gas molecules, according to a recent market analysis by IHS Markit. Source: News