Ahdi field gas plant starting in Pakistan

Pakistani government officials have inaugurated a third natural gas processing plant at Adhi oil and gas field operated by Pakistan Petroleum Ltd. about 70 km south of Islamabad. Source: News


CNPC-Chevron JV starts Luojiazhai gas flow

A joint venture of China Natural Petroleum Corp. and Chevron Corp. has started commercial production from Luojiazhai natural gas field, part of the Chuandongbei sour-gas project in the Sichuan basin of southwestern China (OGJ Online, Nov. 9, 2009). Source: News


Iran advances refinery, pipeline projects

Parsian Oil & Gas Development Co. (POGDC), Iran’s largest nongovernmental petrochemical holding, has entered an agreement with Italy’s Saipem SPA, Milan, to collaborate on future projects involving major overhauls designed to modernize two Iranian refineries under POGDC’s management. Source: News


Highest bidder declared for Quicksilver assets

BlueStone Natural Resources II LLC, Tulsa, has won a Bankruptcy Court-approved auction for assets belonging to Quicksilver Resources Inc., Ft. Worth, and its US subsidiaries following a marketing process that began last September (OGJ Online, Sept. 18, 2015). Source: News


Hess reduces 2016 budget by 40% to 2.4 billion

Hess Corp. is planning a 2016 capital and exploratory budget of $2.4 billion, a 40% reduction from its 2015 actual spend of $4 billion and 20% below its preliminary 2016 guidance of $2.9-3.1 billion provided in October. Source: News


MARKET WATCH: Oil prices fall, hovering above $30/bbl

Light, sweet crude prices tumbled on the New York market Jan. 25 to settle above $30/bbl, giving up much of the gains from two previous trading sessions, and analysts blamed the price decline upon lingering concerns about an oversupplied world oil market. Source: News


DONG to divest exploration and production

DONG Energy, 58.8% owned by the Danish government, intends to divest its exploration and production business in an initial public offering (IPO) and focus investment on wind power and other renewable energy. Source: News