Brent crude oil for December remained under $80/bbl on the London market Oct. 19 while light, sweet oil for November and December delivery settled over $69/bbl in New York. All were up slightly Oct. 19 as China showed signs of increased demand, but Brent crude ended the week with a 0.3% decline and West Texas […]
Prejudgment, resort to oil weapon harmful to Khashoggi response
Imagine an oil market with one quarter of total supply controlled by two countries hostile to the West. Source: News
Energy Transfer unit launches open season for Bakken pipeline system
Energy Transfer LP subsidiaries Dakota Access LLC and Energy Transfer Crude Oil Co. LLC (ETCO) launched a binding expansion open season to solicit shipper commitments for expanded transportation service through the Bakken pipeline system. Source: News
Baker Hughes: US rig count up 4 units to 1,067
The US drilling rig count was up 4 units to 1,067 rigs working for the week ended Oct. 19, according to Baker Hughes data. The count is up 154 units from the 913 rigs working this time a year ago. Source: News
Chandler named Laredo senior VP, COO
T. Karen Chandler has been promoted to the positions of senior vice-president and chief operating officer of Laredo Petroleum Inc., Tulsa. Source: News
EPC contract let for Thai refinery upgrade
Thai Oil PLC has let a $4-billion contract to a consortium of Saipem, Petrofac, and Samsung for the Clean Fuel Project at its 275,000-b/d refinery at Sriracha, Thailand. The work will include engineering, procurement, construction and start-up for new units and upgrading of existing units. Source: News
API: US petroleum demand in September slowed from August
With seasonal slowing after the summer driving season, US petroleum demand was 20.1 million b/d in September, down 3.5% from August but up 2.4% compared with September 2017. This is according the latest monthly statistics report from the US American Petroleum Institute. Year-to-date through September, US petroleum demand remained at its strongest since 2007, averaging […]
Aker BP continues delineation of Gekko discovery in North Sea
Aker BP, operator of production license 203, and its partners are considering tie-back of its Gekko oil and gas discovery well (25/4-3) in the North Sea to the Alvheim floating production, storage, and offloading vessel after drilling two appraisal wells about 5 km east of Volund field and 200 km northwest of Stavanger. Source: News
US regulators approve more development in NPR-A
US government regulators approved ConocoPhillips Alaska Inc.’s plan for development of its Greater Mooses Tooth 2 (GMT2) project in the National Petroleum Reserve-Alaska. The approval came less than 2 weeks after oil production started from Greater Mooses Tooth 1 (GMT1). Source: News
Interior reports $2.5 billion in regulatory relief from reforms
Reforms in response to US President Donald Trump’s Executive Order 13771 have resulted in $2.5 billion of regulatory relief for oil and gas producers during the fiscal year 2018, the Department of the Interior indicated on Oct. 17. “The Trump Administration is doing exactly what was promised and making smart decisions to reform and reduce […]