Israel has launched its previously announced bid round to grant offshore exploration licenses for natural gas and oil in the Eastern Mediterranean. The round follows an earlier one that began 2 years ago and granted six licenses. Bids for the new round are to be submitted by June 2019 with announcement of the winners scheduled for […]
Sempra, Total sign MOU for N. American LNG export project
Sempra Energy and Total SA have signed a memorandum of understanding to cooperate in the development of North American LNG export projects. The scope of MOU covers continuing the development of the Cameron LNG liquefaction-export project in Louisiana and EnergÃa Costa Azul (ECA) liquefaction-export project in Baja California, Mexico. Source: News
Sonatrach lets contract for Alrar gas processing plant
State-owned Sonatrach has let a contract to Emerson Electric Co., St. Louis, in partnership with Fores Engineering SRL, Forli, Italy, to modernize its natural gas processing plant in Alrar, in southeast Algeria. Source: News
Australia makes changes to petroleum resource rent tax
The Australian government has made changes to its petroleum resource rent tax that will see lower uplift rates and a review of the gas-transfer pricing regulations. The lengthy review, undertaken by economist Mike Callaghan, found that although PRRT was still the preferred way to obtain a fair return to the community without discouraging investment, some […]
ADNOC plans oil-production capacity hike
Abu Dhabi targets self-sufficiency in natural gas and expansion of oil-production capacity to 5 million b/d by 2030 under an expanded budget approved Nov. 4 by the Supreme Petroleum Council (SPC). Announcing capital investment growth of $132.33 billion during 2019-23, the SPC reported recent indicated discoveries of 1 tcf of natural gas in place and […]
SandRidge closes Midcontinent deal, exits CBP
SandRidge Energy recently closed two transactions that it said would “improve operating efficiency” of the company. In the Central Basin Platform region of the Permian basin, it sold essentially all of its oil and gas properties together with 13.125 million common units of the SandRidge Permian Trust to an unaffiliated party for $14.5 million. The […]
Preliminary agreement made for St. Croix refinery restart
Limetree Bay Refining, a subsidiary of ArcLight Capital Partners, has reached an agreement in principle with the supply and trading arm of an unidentified major international oil company to restart the idled 500,000-b/d refinery at Limetree Bay on St. Croix in the US Virgin Islands. Source: News
MARKET WATCH: NYMEX crude price dips to lowest since April
Light, sweet crude oil prices dropped for a fifth consecutive trading session on the New York market Nov. 2 with the front-month contract closing at its lowest price since Apr. 6. Brent crude oil prices dropped to settle at the lowest since Aug. 21 in London. Source: News
If the US House flips
A possible change in the US House of Representatives’ majority from Republican to Democrat following the midterm elections would affect the US oil and gas industry most in two committees: Natural Resources, and Energy and Commerce. It’s worthwhile to consider, therefore, what Democrats on those committees have been saying recently when they have not been […]
Steel tariffs complicate Permian pipeline buildout
If a pipeline company decides to use imported steel for a US project, the Department of Commerce has provided a relief system through which companies may apply for an exemption from the tariffs for “any steel article determined not to be produced in the United States in a sufficient and reasonably available amount or a […]