Crude oil
US shale plays spark Q2 increase in oil, gas deals
Ongoing interest in shale acreage, deals for midstream assets and increased investments from foreign buyers in the US oil and gas industry helped drive US oil and gas mergers and acquisitions (M&A) value to $39 billion in the second quarter of 2011, according to a quarterly report from accounting firm PricewaterhouseCoopers (PwC).
IEA cuts 2011 oil demand outlook on soft economy
The International Energy Agency (IEA) opted Wednesday to lower its 2011 forecast for oil demand growth, citing high energy prices and lower-than-expected economic growth. The agency cut its demand forecast for the year by 60,000 bpd to 89.5 million bpd.
Chevron starts deepwater drilling project in Nigeria
Pacific Drilling S.A. announced that its ultra-deepwater drillship the Pacific Bora commenced operations at the Agbami Field in Nigeria on August 10. The rig is contracted for three years to a wholly-owned Chevron subsidiary.
Foster Wheeler starts second phase of Colombia refinery modernization
Foster Wheeler has begun the second phase of its existing contract with Ecopetrol S.A. for a refinery modernization project at Barrancabermeja (PMRB) in Colombia.
Air Products to supply hydrogen for Shell Deer Park refinery in Texas
Air Products announced a long-term agreement with Shell Oil to supply a significant portion of the hydrogen requirements at Shell's refinery in Deer Park, Texas. The hydrogen supply will commence in mid-2013, the company said.
LUKOIL awards Baker Hughes engineering contract for Iraq drilling project
LUKOIL has awarded Baker Hughes a two-year contract to provide full drilling and completion services for 23 wells in the West Qurna field in southeast Iraq, 31 miles west of Basra. Under the terms of the contract, Baker Hughes will provide engineering and project management for the turnkey drilling and completions scope of the project.
Tethys Petroleum begins Kazakhstan oil production
Tethys Petroleum has opened its Doris oil production facilities in Kazakhstan, company officials said on Monday. Oil is currently being trucked from this location at a rate of approximately 1,500 bpd, which will increase to 2,000-2,500 bpd with the new production facilities, the company said.
NuStar, EOG to build rail offloading facility at Louisiana crude terminal
NuStar Logistics and EOG Resources have agreed to jointly develop, build and own a 70,000-bpd unit train offloading facility at NuStar’s crude oil terminal in St. James, La. The project will facilitate movement and storage of crude oil production from the Bakken, Eagle Ford and other developing shale plays in the US, the companies said.
ExxonMobil awards first engineering contract for Indonesia oilfield development
ExxonMobil said Friday that its development of the Indonesian Banyu Urip field in the Cepu block in East Java had achieved a milestone, with the company awarding the first of five engineering, procurement and construction contracts for work on major facilities.
US hikes storm forecast as Gulf season nears peak
The US National Oceanic and Atmospheric Administration (NOAA) elevated its forecast on Friday for the 2011 Atlantic hurricane season, raising the number of expected named storms from its preseason outlook and potentially threatening refining and petrochemical operations along the US Gulf coast and eastern seaboard.
- XRG to expand its global chemicals reach with takeover of Covestro 11/21
- thyssenkrupp Uhde selected by Dangote Fertilizer Ltd. to license four urea granulation units in Nigeria 11/21
- Indian and Chinese refineries are moving to comply with U.S. sanctions on Russia 11/21
- China's first coal-to-chemicals project with green hydrogen starts commercial operations 11/20
- Norsk e-Fuel and Braskem partner to turn captured carbon into long-lasting products 11/20
- Nigeria's Dangote refinery delays CDU maintenance to end of January 2026 11/20
