US crude oil inventories, excluding the Strategic Petroleum Reserve, increased by 10.3 million bbl for the week ended Nov. 9, according to data from the US Energy Information Administration. EIA released the Weekly Petroleum Status Report a day later than normal because of the closure of the federal government on Nov. 12 for the observance […]
Rimer named Whiting Petroleum COO
Charles J. Rimer was named chief operating officer of Whiting Petroleum Corp., Denver, responsible for operations, drilling, reservoir engineering, environmental health and safety, and land. Source: News
Little to succeed Williams as Suncor CEO
Mark Little, chief operating officer of Suncor Energy Inc., has been appointed president and will become chief executive officer when CEO Steve Williams retires next May after 16 years with the company. Source: News
MARKET WATCH: Crude oil benchmarks stabilize
Crude oil benchmarks gained modestly on Nov. 14 after having settled down by more than $4/bbl on markets in New York and London the previous day while US natural gas futures rose sharply for a second consecutive day. Source: News
US House Democrats plan hearings on climate early in 2019
Responding to what they consider years of Republican indifference, the top Democrats on three key US House of Representatives committees said they will hold 2 days of hearings on climate change and its consequences early in 2019. Source: News
Lukoil reports flow from new Caspian well
A second production well completed from the wellhead platform installed during second-phase development of Yury Korchagin oil field flowed at an initial rate of 600 tonnes/day of crude oil, reports Lukoil. Source: News
IEA: Global oil supply will outpace demand throughout 2019
Global oil supply will outpace demand throughout 2019, the International Energy Agency forecasted in its latest Oil Market Report. Since midyear, oil supply had increased sharply with gains in the Middle East, Russia, and the US more than compensating for falls in production in Iran, Venezuela, and elsewhere, IEA said. Source: News
Oxy signs MOU for Mukhaizna solar steam
Occidental of Oman has signed a memorandum of understanding with GlassPoint Solar, Fremont, Calif., for the possible use of steam raised with solar energy for injection at Mukhaizna heavy oil field in south-central Oman. Under discussion is a 2-Gw plant able to produce 100,000 b/d of steam for purchase by Oxy, which operates one of the […]
MARKET WATCH: Oil benchmark prices plunge with NYMEX settling below $56/bbl
Crude oil benchmarks plunged by more than $4/bbl on the New York and London markets Nov. 13 with light, sweet crude oil settling under $56/bbl while Brent settled under $66/bbl. The International Energy Agency on Nov. 14 said world oil supply could significantly outpace demand because of record US, Russian, and Saudi Arabian production. Source: […]
Tonalli spuds Tampico-Misantla basin well
Tonalli Energia has spudded the first conventional horizontal well on its onshore Tecolutla block in Mexico’s Tampico-Misantla basin. The TEC-11 is to penetrate the Cretaceous El Abra reef at about 2,310 m with a horizontal leg as long as 1,000 m. Source: News