BP PLC has let a contract to a division of Emerson Electric Co., St. Louis, Mo., to provide automation technologies for a project designed to upgrade two units at its 413,000-b/d refinery in Whiting, Ind. Source: News
Total signs HOA to supply LNG to ENN in China
Total SA has signed a binding heads of agreement with ENN LNG Trading Co. Ltd. for the delivery of 500,000 tonnes/year of LNG for 10 years. The deliveries will be sourced from Total’s global LNG portfolio and are expected to begin in 2018 after completion of ENN’s Zhoushan LNG receiving terminal. Source: News
ConocoPhillips reports $4.4-billion net loss for 2015, further reduces 2016 budget
ConocoPhillips, Houston, has lowered its capital expenditures guidance for 2016 to $6.4 billion from $7.7 billion and operating cost guidance to $7 billion from $7.7 billion. The previously determined spending levels were outlined in December. Source: News
Contract let for Pyrenees Phase 3 installation project
BHP Billiton Petroleum Pty. Ltd. has let a contract to Fugro for the Pyrenees Phase 3 installation project in 200 m of water and 45 km northwest of Exmouth offshore Western Australia. Source: News
AGL quits upstream natural gas projects
AGL Energy Ltd., Sydney, has decided to quit the natural gas exploration and production business, a move that includes walking away from several controversial coal seam gas (CSG) projects. Source: News
Statoil trims budget for 2016 by $1.7 billion
Norway’s Statoil ASA is reducing its organic capital expenditure to $13 billion in 2016 from $14.7 billion in 2015, the company reported. Source: News
PRL starts up unit, doubles gasoline output at Karachi refinery
Pakistan Refinery Ltd. (PRL) has commissioned an isomerization plant at its 47,110-b/d hydroskimming refinery along the coastal belt of Karachi, Pakistan. Source: News
MARKET WATCH: NYMEX, Brent oil prices jump by more than $2/bbl
Crude oil prices soared by more than $2/bbl on both the New York and London markets Feb. 3, which analysts attributed to a sliding dollar. The oil price rally came despite a bigger-than-expected gain in US crude oil supplies. Source: News
PHMSA issues advisory bulletin on underground gas storage facilities
The US Pipeline and Hazardous Safety Administration issued an advisory bulletin for natural gas storage facility operators. It urged them to closely monitor operations to identify the potential for leaks and failures caused by corrosion, chemical or mechanical damage, or other material deficiencies in piping, tubing, casing, valves, and other associated facilities. Source: News
Pemex’s steady output declines continued in 2015
Petroleos Mexicanos (Pemex) reported liquid hydrocarbons production in 2015 of 2.59 million b/d, down 7% compared with the 2014 total and 10% compared with the 2013 total. Source: News