The government of Indonesia has opened the year’s second oil and gas licensing round, in which two of four blocks on offer were part of the earlier round, the Jakarta Post reports. Oil production has occurred on one of the blocks, West Kampar on the border of Riau and North Sumatra provinces. The other blocks, […]
MARKET WATCH: Crude oil benchmarks settle mixed on US-China relations
Brent crude oil for July gained modestly to settle for a second consecutive day above $70/bbl on the London market May 9, but light, sweet crude oil prices fell in New York to settle under $62/bbl. US and China resumed trade talks May 9-10 in Washington, DC, while US President Donald Trump’s administration implemented new […]
Refiners likely to add 7 million b/d in global capacity through 2023
Imbalance between proposed new capacity and anticipated demand will deteriorate economics for most refining projects, leading to cancellation or postponement of all but the most compelling and best funded. Source: News
Flores and Welch reintroduce bill to limit ethanol quotas under RFS
US Reps. Bill Flores (R-Tex.) and Peter Welch (D-Vt.) reintroduced legislation on May 7 which would limit ethanol quotas under the Renewable Fuel Standard to 9.7% of the total gasoline volumes projected to be sold in the coming year. Source: News
Eni sees more potential in Ghana strike
Eni said a natural gas and condensate discovery offshore Ghana has gas and oil potential requiring further drilling. Source: News
Two blocks awarded in Indonesian round
Kufpec Regional Ventures (Indonesia) Ltd. and a combine of Sonoro Energy Ltd. and PT Menara Global Energy won production-sharing contracts for two of five blocks offered in a licensing round opened by the government early this year, the Jakarta Post reported. Source: News
MARKET WATCH: Crude oil prices rise on EIA’s lower oil inventory
Light, sweet crude oil rallied to settle above $62/bbl on the New York market May 8 while Brent crude oil for July gained modestly to settle above $70/bbl on the London market after a weekly government report showed US oil inventories dropped more than expected. Source: News
Santos awards Barossa subsea contract to Technip
Source: News
Firetail Energy farms in to onshore Bonaparte permit
Source: News
Chevron will not counter Occidental’s offer for Anadarko
Chevron Corp. will not make a counterproposal to acquire Anadarko Petroleum Corp. following Anadarko’s determination that a revised bid from Occidental Petroleum Corp. constitutes a “superior proposal” and will allow the 4-day match period to expire. Source: News