US light, sweet crude oil future prices for the week ended Apr. 5 closed above $63/bbl on the New York market while Brent crude oil for June delivery settled above $70/bbl in London that day. With this latest settlement, Brent breaks a psychological threshold, which analysts believe will encourage more oil investment. The oil price […]
Carlyle buying Cepsa stake from Mubadalla
Funds affiliated with The Carlyle Group will acquire 30-40% of the Spanish integrated oil, gas, and chemical company Cepsa from sole shareholder Mubadalla Investment Co. of Abu Dhabi. In a statement, the companies said the deal is “based on an enterprise value of $12 billion.” Source: News
Attack of Tripoli escalates civil war in splintered Libya
Less than 2 weeks before they were to meet under United Nations auspices to discuss peace, militant groups shoved Libya back toward widespread war. Source: News
Baker Hughes: US rig count up 19 units to 1,025
The US drilling rig count climbed 19 units to reach 1,025 rigs working for the week ended Apr. 5, according to Baker Hughes data. The count is up 22 units from the 1,003 rigs working this time a year ago. Source: News
Eni, Fiat test low-carbon dioxide vehicle fuel
Eni SPA and Fiat Chrysler Automobiles (FCA) are developing a high-alcohol vehicle fuel that they say can lower exhaust emissions of carbon dioxide by up to 3% under Worldwide Harmonized Light Vehicle Test Procedures. Source: News
Woodside signs 10-year LNG supply deal
Woodside Energy Ltd., Perth, has signed a heads of agreement with Chinese distributor ENN Group for the sale of 1 million tonnes/year of LNG from Woodside for 10 years starting in 2025. Source: News
Zhenis block off Kazakhstan due drilling
Zhenis Operating, a 50-50 joint venture of Lukoil and KazMunayGas, will drill an exploration well and shoot a 3D seismic survey on the Zhenis block in the Caspian Sea offshore Kazakhstan. Source: News
MARKET WATCH: US jobs report supports NYMEX crude oil prices
Light, sweet crude oil prices fell slightly on the New York market Apr. 4 to settle above $62/bbl but rose in early trading Apr. 5 after the US Department of Labor reported the US economy added 196,000 jobs in March. Source: News
Raven Petroleum plans fractionator for South Texas
Raven Petroleum has received an air permit from the Texas Commission on Environmental Quality for a proposed 30,000-b/d crude fractionation unit in South Texas. The planned fractionator is to be sited in Duval County, Tex., at the crossroads of the Permian basin, Wolfcamp, and Eagle Ford shales in proximity to the US Gulf Coast, Mexico, and […]
Baker Hughes: International rig count climbs 12 units in March
The international rig count for March reached 1,039, up 12 units from 1,027 in February and up 67 units from 972 in March 2018, according to Baker Hughes data. The international offshore rig count for March was 247, down 3 units from 250 in February and up 62 from 185 in March 2018. Source: News