Inpex Corp., Tokyo, has submitted a revised plan of development to the Indonesian government for the Abadi LNG project in the Arafura Sea. It envisions a floating LNG (FLNG) plant with a processing capacity of 7.5 million tonnes/year. Source: News
JV lets contracts for Louisiana ethane project
LACC LLC, a joint venture of Axiall Corp. and South Korea’s Lotte Chemical Corp., has let a contract to CB&I, Houston, to provide additional detailed engineering and early procurement services for a proposed 1 million-tonne/year LACC ethane cracker project to be built in Lake Charles, La. Source: News
Unit fire slashes Syncrude output until end-September
Syncrude Canada Ltd.’s upgrader in the Mildred Lake oil sands production area, about 40 km north of Fort McMurray, Alta., will operate at reduced rates until the end of September following a fire that struck the unit on Aug. 29. Source: News
Judge vacates FWS listing of lesser prairie chicken as threatened
A federal district judge in Texas vacated the US Fish & Wildlife Service’s listing of the lesser prairie chicken as a threatened species after finding that the US Department of the Interior agency failed to follow its own evaluation procedures for conservation efforts that already were under way. Source: News
MARKET WATCH: NYMEX oil prices end with a gain despite oil supply build
The price for light, sweet crude oil for October delivery fell for a while during Sept. 2 trading following a government report that showed a US oil inventory gain, but the price reversed direction and moved into the black ink, closing above $46/bbl. Source: News
USGS estimates Cherokee Platform Province oil, gas, NGL reserves
The Cherokee Platform Province in Kansas, Oklahoma, and Missouri contains estimated recoverable reserves totaling 463 million bbl of crude oil, 11.2 tcf of natural gas, and 35 million bbl of natural gas liquids, the US Geological Survey said in a Sept. 1 report. Source: News
Appeals court rules for environmental groups in Montana lawsuit
A federal appeals court ruled that three environmental groups may have standing in a lawsuit to block oil and gas leasing on federal land in Montana. It remanded the case back to Sam E. Haddon, a judge in US District Court for Montana, who ruled 2 years earlier that they did not. Source: News
MARKET WATCH: NYMEX crude oil prices plummet by nearly $4/bbl
The price for light, sweet crude oil for October delivery plummeted by $3.79/bbl on Sept. 1, abruptly ending a late-August rally that marked the largest 3-day gain the New York market had experienced since 1990 for oil price futures. Source: News
Armour buys Roma oil, gas assets from Origin Energy
Armour Energy Ltd., Brisbane, has acquired oil, gas, and condensate assets on the Roma shelf region in southeast Queensland from Sydney company Origin Energy Ltd. for $10 million (Aus.) cash and $3 million in deferred consideration. Source: News
CHS takes full ownership of Kansas refinery
US farmer-owned cooperative CHS Inc., Inver Grove Heights, Minn., has completed its purchase of National Cooperative Refinery Association’s refinery and related operations at McPherson, Kan., to take full ownership of the assets. Source: News