Located in The Woodlands, the innovation center features a state-of-the-art laboratory to customize and deploy the company’s AssurEOR biosurfactant treatment program across the Permian and other Texas basins.
Petronet will spend $2.5 billion for an 18% equity stake in Tellurian’s $28 billion Driftwood LNG terminal — the largest outside holding so far in the project — and negotiate the purchase of 5 MM tons of gas per annum.
On the Texas side, oil and gas producers can drill and frack with relatively few bureaucratic hurdles. In New Mexico, companies need additional approvals from either the U.S. Bureau of Land Management or the state’s Land Office and Oil Conservation Division.
A bloodbath in energy stocks is creating a rich opportunity for Big Oil to dominate America’s hottest shale play. Exxon Mobil’s chief said Wednesday his company is keeping a “watchful eye” on the Permian for potential deals.
The EIA reports that natural gas spot prices at the Waha hub in western Texas, located near Permian basin production, settled at $1.55/million British thermal units (MMBtu) on August 15, the highest price since March 2019. This price increase coincides with the 2 Bcfd Gulf Coast Express Pipeline (GCX) preparing to enter service.
The U.S. briefly became the world’s No. 1 oil exporter as record shale production found its way to global customers, and there are prospects for more.
Oil producers drilling so-called parent-child wells in the Permian Basin are risking the loss of 15% to 20% of the crude that can ultimately be recovered from those wells by spacing them too close together, according to a Houston-based investment bank.
Pembina Pipeline Corp. increased its bet on the future of Canada’s turbulent oil-sands industry, agreeing to buy Kinder Morgan Inc.’s Canadian unit and the U.S. portion of a key pipeline for about C$4.35 billion ($3.3 billion).
Hatch announced that Upside Engineering Ltd. has joined Hatch Ltd., bringing together the largest oil and gas process team for complex upstream and downstream flowsheet development in Canada with a well-established firm that specializes in midstream hydrocarbon business.
Husky Energy has commenced production at its Dee Valley thermal project in Saskatchewan, the second of six 10,000 bpd thermal bitumen projects to be brought onstream from 2018 to 2022.
Nearly all of the kingdom’s oil shipments to Canada travel to New Brunswick, home to a single refinery, Irving Oil Ltd.’s Saint John plant, which can process about 299,000 bpd. The refinery relied on Saudi crude for more than 40% of its supplies in July, Statistics Canada data show.
Clariant Oil Services launches WAXTREAT SubZero Pour Point Depressant technology for cold climate regions
WAXTREAT SubZero is a winterized PPD with customization capabilities, enhancing performance, while mitigating paraffin build-up, in crude oil pipeline systems, at the same time reducing OPEX requirements associated with pipeline cleaning.
Bernie Sanders says the industry is a criminal enterprise. Joe Biden is vowing to take action against it.
The caliche roads cutting through the blackbrush and mesquite of the South Texas brush country are a bit less congested of late, as Eagle Ford drilling and completion activity dips in what is ranked among the most profitable of the unconventional plays.
A split vote by Texas regulators over the flaring of natural gas indicates the controversial practice may be curtailed.
Two federally-funded projects in the Bakken and Eagle Ford shales strive to improve recovery efficiency in unconventional plays while accelerating their development and generating high-quality data.
The Bureau of Ocean Energy Management has approved Equinor and Shell’s transaction, in which Equinor exercised its preferential right to acquire 22.45% interest in the Caesar Tonga oil field from Shell for $965 million in cash.
BP has closed one chapter in its U.S. business, exiting Alaska decades after transforming the state into an oil powerhouse. Now it’s time for a new phase in the company’s American story.
Talos Energy has entered into two separate agreements with BP and Exxon Mobil related to new exploration opportunities in the U.S. Gulf of Mexico.
Eaton collaboration with San Jacinto College advances energy industry workforce development in the Gulf Coast
“The energy industry needs a more skilled workforce and the new Center for Petrochemical, Energy, and Technology is designed by industry for industry,” said Dr. Brenda Hellyer, San Jacinto College Chancellor.
The U.S. House of Representatives is set to vote Wednesday on two proposals for limiting drilling in U.S. coastal waters, including an effort to permanently ban rigs near Florida, as Democrats seek to demonstrate their opposition to fossil fuels and emphasize Republicans’ sustained support for oil.
Russia’s Yamal LNG, set to be the world’s biggest Arctic producer of liquefied natural gas, plans to send its debut cargo to China as thanks for its support.
Total SA will take 10% stake in a multi-billion-dollar liquefied natural gas project in Russia’s frozen north from Novatek PJSC.
Total announces that it has signed the definitive agreements with Novatek for the acquisition of a direct 10% interest in Arctic LNG 2, a major liquefied natural gas development led by Novatek on the Gydan Peninsula, Russia.
CNOOC Limited has announced that the company has signed a heads of agreement with JSC Novatek, a Russian gas producer, for the acquisition of 10% interest of the Arctic LNG 2 project.
Last weekend, Russia launched the last of a new crew of atomic icebreakers meant to consolidate the country’s dominance of commercial traffic in the Arctic. As much of the rest of the world recognizes climate change as an emergency, Russia is working hard to capitalize on it — and the U.S. appears to be far behind.
Zion Oil and Gas confirmed today that it will move forward with the operational plan in Israel that the firm outlined previously in its Nov. 29, 2018, press release.
Talks are in progress to build an underwater natural gas pipeline between Israel and Egypt, part of efforts to transform the eastern Mediterranean into an energy export hub on Europe’s doorstep.
Exxon Mobil is in discussions to build a platform that would expand the export reach of Israel’s biggest natural gas field.
Energean Oil and Gas plc, the oil and gas producer focused on the Mediterranean, has announced that it has commenced its 2019 drilling program in Israel.
The Eastern Mediterranean Gas Conference (EMGC) is gearing up for another must-attend event in Cyprus.
Israel is willing to enter U.S.-mediated talks with Lebanon on setting a maritime border, the Energy Ministry said today.
The parties to a $15 billion deal to export Israeli natural gas to Egypt are changing the agreement to reduce the risk of disruptions.
The Israeli Ministry of Energy has awarded 12 new offshore blocks in Israel’s Exclusive Economic Zone in its second license round, adding British companies Cairn and Soco to an international roster of oil and gas companies operating in the country’s waters.
Egypt expects to begin receiving natural gas from Israel by the end of 2019, the oil minister said, fulfilling a $15 billion deal that will position the North African country as an energy re-export hub on Europe’s doorstep.
The U.S. Department of Justice is seeking to seize supertanker Grace 1, arrested last month in Gibraltar on suspicion of hauling Iranian crude oil to Syria in violation of European sanctions.
Saudi Arabia’s oil production was cut by half after a swarm of explosive drones struck at the heart of the kingdom’s oil industry and set the world’s biggest crude-processing plant ablaze.
The U.S. placed new sanctions on Iran, and a top American official signaled more measures are coming while deflecting questions about French diplomatic efforts meant to help Tehran restart oil sales.
Iran said it sold an oil cargo on board a contested tanker sailing the Mediterranean Sea but didn’t know where the vessel was going amid U.S. efforts to block delivery of the crude.
The U.S. is disappointed with the UK after a Gibraltar court allowed the release of an Iranian tanker, and threatened sanctions against ports, banks and anyone else who does business with the ship or its crew, two administration officials said.
Fires at the plant were brought under control within hours, but the flow of crude from Saudi Arabia, the world’s biggest exporter, will almost certainly be affected, although we don’t yet know by how much or for how long. Traders who have shrugged off tensions in the Middle East for months will respond to this attack when markets open on Monday.
President Donald Trump spoke by phone on Saturday with Saudi Crown Prince Mohammed Bin Salman after a swarm of explosive drones hit key oil-industry targets in Saudi Arabia, the state-run Saudi Press Agency reported.
The Trump administration sought to offer new evidence to back its claim that Iran conducted the attack on major Saudi Arabian oil facilities, saying the munitions used in the strikes were well beyond the capabilities of the Houthi rebels who claimed responsibility.
Saudi Arabia said preliminary findings show Iranian weapons were used in the attack on one of its key oil installations, but stopped short of directly blaming the Islamic Republic for the strikes that cut its crude output by half and rattled oil markets.
Gazprom Neft subsidiary Gazprom Neft Middle East B.V. has produced its two-millionth ton of oil since starting commercial production at its Sarqala field in the Kurdsitan Region of Iraq.
Iraq has quietly emerged as the world’s fourth-biggest oil producer and wants a bigger say in OPEC and the global energy game.
The evacuation of some ExxonMobil Corp. workers is “unacceptable and unwarranted” because it has nothing to do with the security situation in southern Iraq, according the country’s energy minister.
Marathon Oil Corporation has announced that it has closed on the sale of its 15% participating interest in the Atrush Block in Kurdistan.
President of LUKOIL Vagit Alekperov has met with Thamir Abbas Ghadhban Al Ghadhban, Deputy Prime Minister and Minister of Oil of the Republic of Iraq, at the St. Petersburg International Economic Forum.
A former oil executive pleaded guilty to five counts of corruption in the U.K. as part of one of the white-collar financial crime prosecutor’s biggest bribery investigations.
His Excellency Sheikh Abdullah Bin Nasser Bin Khalifa Al-Thani, the Prime Minister and Interior Minister, launched Qatar Petroleum’s Localization Program for Services and Industries in the Energy Sector “Tawteen” – an initiative to enhance localizing the sector’s supply chain and expand the small and medium enterprises base.
Baker Hughes, a GE company (BHGE), the world’s first fullstream oil and gas company, has signed a Memorandum of Understanding (MoU) with Qatar Petroleum (QP) to unlock new opportunities to expand its presence in the country and to support Qatar Petroleum’s Tawteen Program.
Australia is on track to surpass Qatar as the world’s largest LNG exporter, according to Australia’s Department of Industry, Innovation, and Science (DIIS). Australia already surpasses Qatar in LNG export capacity and exported more LNG than Qatar in November 2018 and April 2019.
EIA says unplanned crude oil production outages for OPEC averaged 2.5 MMbpd in the first half of 2019, the highest six-month average since the end of 2015.
Oil tanker owners are finding a way to reduce the risks of navigating the Strait of Hormuz, the world’s most important — and lately most dangerous — energy chokepoint: vanish from global tracking systems.
Aker Solutions has won an order from ADNOC to deliver subsea umbilicals for the Dalma gas development project located offshore UAE in the shallow waters of the Persian Gulf.
Ministers from OPEC+ are gathering in Abu Dhabi with deeper production cuts off the agenda for now, but with a backdrop of growing concern about the strength of oil demand as the global economy slows.
American shale producers, one of the worst-performing segments on the stock market this year, jumped Monday morning after an attack on a Saudi Arabia oil production facility over the weekend sent crude prices soaring.
Officials at state oil company Saudi Aramco have become less optimistic on the pace of output recovery, telling a senior foreign diplomat they face a “severe” disruption measured in weeks and months and informing some customers that October shipments will be delayed.
The impact at the pump should start to become more pronounced late Tuesday or Wednesday, according to Patrick DeHaan, senior petroleum analyst at GasBuddy. That’s after gasoline distributors adjust prices to match gains in futures and regional spot markets.
Alberta Premier Jason Kenney, whose province produces more oil than most OPEC nations, has a message for environmentalists, investors and anyone else who will listen: The world needs more Canadian crude, and standing in the way is foolish.
Systematic investors known as commodity trading advisors (CTAs), whose strategies track price trends across assets, held record short positions in oil and gas futures before a drone strike in Saudi Arabia sent shockwaves through global markets, according to JPMorgan Chase and Co.
Oil plunged nearly 7% in London after Reuters reported Saudi Arabia is close to restoring 70% of the oil production it lost after this weekend’s attack on a key crude facility in the kingdom.
Futures fell as much as 2.2% in New York before easing declines on Wednesday. The weekend attacks on the kingdom’s critical oil infrastructure were “unquestionably sponsored by Iran” and did not originate from Yemen, said Turki al-Maliki, a spokesman for the Saudi defense ministry.
Consultants caution that Saudi Arabia’s recovery could take longer than expected, and the kingdom’s resort to sourcing refined fuels and condensates from the market is fanning concerns about the length of the disruption.
The Pentagon is preparing a report on who was responsible for the weekend attack on Saudi oil facilities and intends to make it public within 48 hours, a U.S. defense official said.
Saudi Arabia’s pledge to fulfill all commitments to oil buyers after a strike on the giant processing plant at Abqaiq means the world’s largest crude exporter must continue to draw heavily on its inventories until production capacity returns.
Oil rose amid doubts about the speed of Saudi Arabia’s recovery from the weekend’s attack on its facilities that knocked out a large chunk of its production.
Saudi Arabia is fixing its energy infrastructure and restoring crude production, but the weekend’s attacks may have done irreparable damage to one of the kingdom’s greatest assets — its role as guardian of global oil markets.
“Considering limited spare capacity outside Saudi Arabia and risks of renewed attacks on Saudi energy infrastructure, a risk premium is likely to stay on oil prices in the foreseeable future,” UBS Group AG analyst Giovanni Staunovo said in a note on Wednesday.
Saudi Arabia attempted to move beyond the worst oil disruption in its history, assuring the world that crude exports will not suffer, its damaged facility had partially restarted and production capacity would be back to normal within months.
Saudi Aramco revealed the significant damage caused by aerial strikes on its Khurais oil field and Abqaiq crude-processing plant last weekend, and insisted that the sites will be back to pre-attack output levels by the end of the month.
China’s biggest energy company is backing away from direct purchases of Venezuelan crude as the Trump administration tightens sanctions against the South American nation.
Oil climbed as the U.S. delayed sanctions against Huawei Technologies, offering a hint of progress in its trade war with China, and a drone attack in Saudi Arabia highlighted simmering Middle East tensions.
Liquefied natural gas may have dodged the latest round of Chinese tariffs on U.S. goods, but plans for new American terminals to ship the fuel abroad are under threat as the trade war escalates.
An Indian state-owned refiner is mulling the purchase of American oil from Chinese sellers offering cargoes that would be hit by new tariffs on U.S. supplies.
China Big Oil wrapped up a first half that rewarded exploration and production and punished refining.
Philippine President Rodrigo Duterte’s much-touted meeting with Chinese leader Xi Jinping does not appear to have yielded an agreement on the South China Sea territorial dispute between the two nations or a plan to explore the area for oil and gas.
Six ships, carrying about 12 MMbbl of U.S. crude, are headed to China just as Beijing prepares to impose its first ever levy on American oil next month.
Asia accounts for more than 70% of Saudi Arabia’s crude exports, with the four biggest economies – China, Japan, India and South Korea – leading the pack, according to consultancy Wood Mackenzie. That leaves them particularly vulnerable to rising geopolitical tensions in the Middle East that are now causing global crude prices to soar.
Libya declared a state of force majeure at its largest oil field after an armed group forced a production halt, just days after OPEC exempted the country from global output cuts.
Forces loyal to Libya’s eastern leader Khalifa Haftar have taken control of the country’s biggest oil field and say the deposit is secure and ready to resume production.
Libya boosted crude production by a third after restarting its biggest field, and its top oil official sees further gains when companies like BP Plc invest and start pumping oil in the politically divided OPEC nation.
Libya’s biggest oil field resumed production, adding another complication to OPEC’s effort to trim a global supply glut.
Libya’s state-run National Oil Corp refused to restart the country’s biggest field after militants seized and declared it secure earlier this month.
Libya is heading towards mass chaos that puts oil output and exports at risk, just as its oil sector looked set to stage a recovery.
Libya’s most powerful military leader said the state oil company in Tripoli has the sole right to sell the nation’s crude, a statement that might ultimately help stabilize production that has swung wildly for almost a decade because of ongoing conflict.
Libyan oil production is set to recover from a five-month low as the North African supplier’s biggest field restarts following a brief halt.
Libya’s oil production dropped to about 950,000 bpd, its lowest in five months, after the unauthorized closing of a valve on a pipeline linking the country’s largest oil field to an export terminal on the Mediterranean Sea.
Heavy Canadian crude prices narrowed to the smallest discount against U.S. benchmark futures since April as rail shipments increase.
Chevron Corp. is seeking approval to modify its plans for a liquefied natural gas export facility on Canada’s Pacific Coast to an all-electric design that it says will result in the lowest greenhouse-gas emissions per ton of LNG of any large project in the world.
Halliburton Co. is shifting strategy in its largest region to deal with subdued customer spending by shelving unused frac gear and cutting jobs in North America.
Alberta has relaxed the production limits it imposed on oil producers as it exports more barrels via rail and pipeline.
U.S. refiners want more Canadian oil, and pipeline companies are finding ways to get it to them.
A corporate tax rate cut in the oil-rich province of Alberta, boosted Exxon’s second-quarter profit by almost $500 million, according to a statement Friday. Chevron noted a $180 million non-cash tax benefit from the measure in its report.
Alberta’s oil production curbs finally appear to be draining inventories, at least for now.
The days when energy stocks and the price of oil moved in lockstep are now few and far between. Oil may go up but stocks still fall, and in Canada it’s the worst divergence on record.
Another mixed outlook awaits the EandP sector
Heavy Canadian crude fell to the lowest in almost four years against benchmark prices Tuesday as bottlenecks on pipelines and rail networks crimped exports.
In an exclusive interview with World Oil Editor-in-Chief Kurt Abraham, ConocoPhillips Chief Technology Officer Greg Leveille discusses the technical issues facing global EandP, particularly as relates to the many U.S. unconventional plays
Petrolia Energy Corporation is pleased to announce that it has acquired a 25% working interest in the Luseland, Hearts Hill, and Cuthbert fields, located in Southwest Saskatchewan and Eastern Alberta, Canada.
The winter drilling season in the diverse shale plays scattered throughout the western Canada sedimentary basin (WCSB), is shaping up to be the busiest in three years.
Kuwait plans to boost production from Canadian shale deposits by two thirds and increase output of natural gas in Australia as the OPEC member ramps up efforts to find and develop overseas deposits of the fuel.
Hong Kong billionaire Li Ka-shing’s oil sands investment is hurting — and some analysts are calling on him to stop the bleeding.
Capital keeps marching out of Canada’s oil industry, with Kinder Morgan’s sale of its remaining holdings in the country on Wednesday adding to more than $30 billion of foreign-company divestitures in the past three years.
ExxonMobil recently announced the winners for the inaugural Power Play Awards during the Gastech Exhibition and Conference on September 18, 2019.
Working to deliver transparent data to evaluate the most effective methane emissions reduction strategies, the group was established by leading industry companies Cheniere, Chevron, Equinor, ExxonMobil, and Pioneer Natural Resources.
Alex Munton, principal analyst, Americas gas and LNG at Wood Mackenzie, said “This additional deal solidifies the appetite for US producers to participate in supporting development of US LNG exports, following their notable absence in the first wave.”
The initial 15% oil price jump resulting from the attacks in Saudi Arabia will not have any impact on the trajectory of 2019 U.S. shale production, IHS Markit says.
The world’s biggest oil company by market value is pursuing a $15 billion divestment plan, offloading older assets to fund higher-growth projects from Papua New Guinea to Texas and Brazil.
Schlumberger announced today its biennial event, the SIS Global Forum 2019, has surpassed expectations, laying firm foundations for a new era of openness and widespread collaboration in the oil and gas industry.
Devon Energy announced that David Harris has been appointed to the position of executive vice president, exploration and production. Tony Vaughn previously served in this role and will retire from Devon after 20 years of service.
Martin Linge is scheduled to come on stream in 2020 and the gas will flow through a new pipeline connecting to the field via existing infrastructure to St Fergus in Scotland.
The co-located team worked together to integrate recently acquired and processed 3D seismic data covering the entire onshore PZ, with multiple geological, petrophysical and production data sets to deliver a robust portfolio of exploration prospects and leads as well as asset development infill opportunities for the existing fields.
Saudi Arabia joined a U.S.-led coalition to secure sea lines vital to oil shipping in the Middle East in the aftermath of a devastating attacks on Aramco’s oil facilities.
Alberta Premier Jason Kenney says it’s likely his government will allow oil producers to exceed their provincially imposed output caps if they can ship those extra barrels by rail.
The list of countries that could boost production to offset losses from Saudi Arabia is not a long one, and much of their “spare” capacity may not be accessible.
The U.S. energy revolution has fundamentally added to U.S. and global near-term deliverability of oil, natural gas and natural gas liquids, generally helping stabilize the global market against supply disruptions.
Saudi Arabia is racing to restore oil production after a brazen drone strike on a key Aramco facility slashed its output by half, or about 5% of world supply, an assault that the U.S. has blamed on Iran.