Light, sweet crude oil prices gained on the New York market Mar. 7 as did Brent crude oil prices in London despite indicators of weakening world economic growth. The European Central Bank cut its 2019 growth forecast to 1.1% from 1.7%. Previously, the Organization for Economic Cooperation and Development downgraded its growth forecasts for the […]
Gould joining EQT as executive VP, COO
Gary E. Gould will join EQT Corp., Pittsburgh, as executive vice-president and chief operating officer in April. Source: News
Rystad Energy: US to export more oil, liquids than Saudis by yearend
The US will soon export more oil and liquids than Saudi Arabia, driven by the continued rise in oil production from US shale plays and the increased oil export capacity from the Gulf Coast, according to Rystad Energy. The US Energy Information Administration reported last week that US exported more crude and petroleum products than […]
India commissions Ennore LNG terminal
India’s first East Coast regas project, Ennore LNG terminal, was commissioned by Indian Oil Corp. Ltd. (IOC). IOC, through its joint venture company Indian Oil LNG Pvt. Ltd., set up the 5-million tonne/year capacity LNG import terminal at Kamarajar Port, Ennore. Source: News
Baker Hughes: International rig count up 3 units in February
The international rig count for February reached 1,027, up 3 units from the 1,024 counted in January, and up 48 units from the 979 counted in February 2018, according to Baker Hughes data. Source: News
Borealis lets contract for Kallo PDH unit
Borealis has let a contract to a subsidiary of Maire Tecnimont SPA for work related to the operator’s previously announced plan to build a grassroots propane dehydrogenation (PDH) plant at its existing production site in Kallo, Belgium. Source: News
Canadian producer Pengrowth mulls options
Pengrowth Energy Corp., Calgary, has begun a strategic review “with a view to improving the Company’s balance sheet, addressing upcoming debt maturities, and maximizing enterprise value.” It said options might include a sale, merger, or other business combination; disposition of all or some assets; recapitalization and refinancing; and new financing and equity capital. Source: News
Pearl to boost Khor Mor flow in Kurdistan
Pearl Petroleum Co. Ltd., Sharjah, has signed a sales agreement with the Kurdistan Regional Government enabling it to increase production at Khor Mor field in the Kurdish region of Iraq to 650 MMscfd of natural gas by 2021 from 400 MMscfd at present. Source: News
MARKET WATCH: Crude oil benchmarks close mixed for second day
Light, sweet crude oil prices fell moderately on the New York market while Brent crude oil prices gained positive momentum in London on Mar. 6 for a second day in which the benchmarks closed mixed. Source: News
Zarubezhneft, Uzbekneftegaz plan EOR JV
Zarubezhneft and Uzbekneftegaz have targeted three old oil fields Uzbekistan’s Ferghana Valley for enhanced recovery and plan to form a joint venture to do the work. Zarubezhneft said it will apply its development-management technologies and use modern equipment to boost production from South Alamyshik, Khartum, and East Khartum fields. Source: News