The US drilling rig count declined 11 units to 420 rigs working during the week ended Apr. 22, according to data compiled by Baker Hughes Inc. Source: News
ExxonMobil first-quarter earnings plunge $3.1 billion
ExxonMobil Corp. posted first-quarter earnings of $1.8 billion compared with $4.9 billion a year earlier. The impacts of sharply lower commodity prices and weaker refining margins were partly offset by strong chemical results. Source: News
Chevron posts $725-million first-quarter loss
Chevron Corp. posted a first-quarter loss of $725 million compared with earnings of $2.6 billion in first-quarter 2015. Foreign currency effects decreased earnings in the quarter by $319 million compared with an increase of $580 million a year earlier. Source: News
Turkmenistan advances plans for second GTL plant
Turkmenistan is moving forward with construction of a second grassroots gas-to-liquids plant to be built at Ovadan-Depe, near the country’s capital city of Ashgabat. Source: News
Cedigaz: Gas market imbalance to last in the short, medium terms
Worldwide natural gas consumption in 2015 was characterized by moderate growth, up 1.6% to 3,472 billion cu m, after having stagnated in 2014, according to first estimates of Cedigaz, the international association for natural gas. Source: News
Hollub’s move to Oxy chief executive complete
Vicki A. Hollub has been appointed by the board of Occidental Petroleum Corp., Houston, as president and chief executive officer, completing the previously disclosed succession plan with Stephen I. Chazen. Source: News
MARKET WATCH: NYMEX crude oil price reaches above $46/bbl
Light, sweet crude prices for June delivery gained 70¢ on the New York market, closing Apr. 28 at $46.03/bbl and marking a second consecutive record settlement for 2016. Brent crude oil for June delivery closed above $48/bbl, and the Brent June contract was set to expire with Apr. 29 closing. Source: News
Suncor to buy additional 5% of Syncrude for $937 million (Can.)
Suncor Energy Inc. is to buy an additional 5% of Syncrude Canada Ltd. for $937 million (Can.) from the Canadian subsidiary of Murphy Oil Corp. The purchase will bring Suncor’s interest in Syncrude to 53.74% and close out Murphy’s participation (OGJ Online, Dec. 9, 2015). Source: News
Fatality halts work on Albertan polyethylene project
Nova Chemicals Corp. has halted construction on the Polyethylene 1 (PE1) plant expansion project at its ethylene and PE complex in Joffre, near Read Deer, Alta., following an industrial accident at the site. Source: News
House LNG export measure’s sponsor cheers amendment in defense bill
The author of a US House bill that aims to facilitate US exports of LNG applauded its adoption as an amendment to the fiscal 2017 defense appropriations bill by the Armed Services Committee on Apr. 27. “That greatly improved its chances of being enacted because the president isn’t about to veto the Department of Defense […]