Crude oil production in October from seven major US shale plays is expected to drop 80,000 b/d to 5.21 million b/d, according to the US Energy Information Administration’s latest Drilling Productivity Report (DPR). Source: News
IEA: Most recent OMR shows oil markets tightening
Oil markets are tightening, as stockpiling gradually slows and inventories start to draw in the second half of 2016, the International Energy Agency forecast in its most recent monthly Oil Market Report. Source: News
Chevron settles with California litigation firm over Ecuadorian lawsuit
Chevron Corp. has reached a settlement agreement whereby H5, a California-based e-discovery and litigation services firm, has withdrawn its support from litigation against Chevron in Ecuador and assigned its 1.25% interest in the $9.5-billion Ecuadorian judgment to Chevron. Source: News
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Smorbukk South ‘fishbone’ well flow starts
Statoil ASA has started production from the low-permeability Smorbukk South Extension of Asgard oil and gas field in the Norwegian Sea with what it claims to be the first use of “fishbone” multilateral technology offshore Norway. Source: News
NPD reports small oil discovery by Statoil
The Norwegian Petroleum Directorate reported a small oil discovery by Statoil Petroleum AS in the northern North Sea. Source: News
MARKET WATCH: NYMEX oil prices holding steady before Labor Day weekend
The price for light, sweet crude oil for October delivery settled modestly higher on the New York market to remain above $46/bbl on Sept. 3 before the Labor Day holiday in the US. Source: News
Second segment of Aegis pipeline complete
Enterprise Products Partners LP (EPP) has completed construction of the Aegis pipeline segment connecting Beaumont, Tex., with Lake Charles, La. Source: News
Investigation under way into Venezuelan gas processing plant fire
An investigation is under way into a fire that broke out on Aug. 31 at the onshore Cardon IV gas processing plant at Tiguadare in Venezuela’s northwestern state of Falcon. Source: News
Russia’s Sibur-Gazprom Neft JV commission gas processing plant
A joint venture of Russian conglomerate PJSC Sibur Holding, Moscow, and PJSC Gazprom Neft, St. Petersburg, have commissioned the newly built Yuzhno-Priobskiy gas processing plant (Yuzhno-Priobskiy GPP) in Western Siberia’s Khanty-Mansi Autonomous Area. Source: News