OGJ (48)

ONGC Videsh unit adds Namibian interest

ONGC Vankorneft Pte. Ltd. is acquiring a 15% participating interest in Petroleum Exploration License 0030 offshore Namibia under definitive binding agreements with Tullow Namibia Ltd.

Harris, Barra oil flow starts off the UK

Dana Petroleum Ltd. has started production from Harris and Barra oil fields in the northern North Sea .

UK bid round attracts 96 applications

The UK’s 30th Licensing Round drew 96 applications for 239 blocks in mature areas of the UK Continental Shelf .

MARKET WATCH: NYMEX crude gains before Thanksgiving

Light, sweet crude oil futures gained slightly on Nov. 21 on the New York market in advance of the US Thanksgiving holiday and a Nov. 30 meeting of the Organization of Petroleum Exporting Countries.

Germany’s politics implodes as climate elites save planet

Coincidence underscores lessons too easily overlooked in the Nov. 19 collapse of government-forming discussions in Germany.

API: US product demand highest for October since 2007

Total US petroleum product deliveries averaging 19.9 million b/d reached their highest October monthly average since 2007, the American Petroleum Institute said in its latest monthly statistical report. Demand last month, which API expresses as products supplied, was 1.1% higher than October ...

Ancala unit buys Apache’s SAGE interests

Ancala Midstream Acquisitions Ltd., London, has let a contract to Wood Group to operate the Scottish Area Gas Evacuation System and Beryl Gas Pipeline in the UK North Sea after acquiring the interests of Apache Corp.

Ineos acquiring more interests off the UK

Ineos UK SNS Ltd. has agreed to farm in to two exploratory licenses in the West of Shetland area off the UK that include a large natural gas prospect called Lyon.

Gulf of Mexico producers to become Talos Energy Inc.

Talos Energy LLC, Houston, and Stone Energy Corp., Lafayette, La., have agreed to merge in an all-stock transaction creating a Gulf of Mexico producer named Talos Energy Inc. Both companies recently have reported discoveries in the deepwater Gulf of Mexico. And Talos this year reported an oil strike ...

Maersk Drilling outlines alliance with Aker BP

Maersk Drilling and Aker BP announced a drilling rig alliance based on a tripartite collaboration model that also includes service provider Halliburton Co. The alliance involving high-performance jack ups aims at lower cost for Aker BP and increased profitability for Maersk Drilling and Halliburton.

Serica due BP stakes in three fields off UK

Serica Energy PLC, London, has agreed to buy interests in three natural gas and condensate fields in the northern UK North Sea from BP PLC and become operator.

MARKET WATCH: NYMEX down slightly but holds above $56/bbl

Light, sweet crude oil futures declined slightly but still settled above $56/bbl on Nov. 20 on the New York market as oil prices traded fairly flat in anticipation of a Nov. 30 producers’ meeting in Vienna. The Organization of Petroleum Exporting Countries and some non-OPEC producers, ...

Ineos to supply long-term US ethane to China

Ineos has reached a long-term agreement to supply US-produced ethane to SP Chemicals’ newbuild 650,000-tonne/year cracker in Taixing, Jiangsu Province, China. Ineos has been shipping ethane from the US to Europe since 2015.

Chaparral exits EOR to focus on STACK

Chaparral Energy Inc., Oklahoma City, has sold its enhanced oil recovery properties in Oklahoma and Texas to Perdure Petroleum, which Delaware records indicate was formed Sept. 26 as a limited liability company.

Nebraska PSC approves Keystone XL’s mainline alternative route

Nebraska’s Public Service Commission approved the proposed Keystone XL crude oil pipeline’s Mainline Alternative Route in a 3-2 vote. The new route maximizes co-location of the new system with the existing Keystone pipeline while having potential impacts on fewer miles of threatened or ...

Aramco shutters, plans to convert Jiddah refinery into terminal

Saudi Aramco has discontinued crude processing operations at its 77,000-b/d Jiddah refinery along the Red Sea coast to convert the industrial complex into a distribution center for petroleum products.

Funding complete for two Nigerian fields

Nigerian National Petroleum Corp. says execution of the final phase of an alternative financing agreement with Chevron Corp. will boost production in Nigeria by 39,000 b/d of oil and 283 MMscfd of natural gas.

Anadarko reports 2018 capital guidance

Anadarko Petroleum Corp., The Woodlands, Tex., reported its 2018 capital expectations and guidance. In 2018, the company expects to make capital investments of $4.2-4.6 billion.

Watching Government: West Virginia's impressive deal

West Virginia reached its stunning agreement for China Energy Investment Corp. to invest as much as $82.7 billion in the state on shale gas and chemical manufacturing projects because Gov. Jim Justice and others objected a few weeks earlier when it looked as if federal trade officials had ...

Husky Energy acquires Superior, Wisc., refinery

Husky Energy Inc., Calgary, has completed its acquisition of Calumet Specialty Products Partners LP subsidiary Calumet Superior LLC's 47,500-b/cd refinery in Superior, Wis., and other regional downstream assets .

Reforms could reduce expropriation risk, Latin America forum told

Reforms under way in several Latin American countries contain provisions aimed at increasing certainty for foreign investors and improving chances that energy assets will not be expropriated later, speakers at the Inter-American Dialogue's Latin America Energy Conference suggested.

US Senate panel adopts Murkowski plan to lease ANWR to meet budget

The US Senate Energy and Natural Resources Committee adopted Chair Lisa Murkowski's proposal to authorize oil and gas leasing on the Arctic National Wildlife Refuge's Coastal Plain for federal budget reconciliation purposes.

OGCI annual report affirms gas's role in reaching lower carbon future

Natural gas will play an important long-term part in reducing global carbon emissions in addition to its more immediate role of replacing coal to generate electric power, the Oil & Gas Climate Initiative said as it released its third annual report in London on Oct. 27.

Bishop releases new draft of federal lands energy policy overhaul

US House Natural Resources Committee Chairman Rob Bishop released a new draft of proposed legislation to overhaul federal lands energy policy late on Oct. 31. The committee's Energy and Mineral Resources Subcommittee, which discussed two earlier drafts at hearings in October, will examine this one ...

TDA calls for proposals as it launches US gas exports initiative

The US Trade and Development Agency called for initial development proposals as it launched its US Gas Infrastructure Exports Initiative. Officials from the Departments of Energy, Interior, and State, as well as a House Energy and Commerce Committee member, expressed strong support during the Nov. ...

Growth seen for electric vehicles, oil use

Demand for oil will grow through 2040 even as dominance of the internal combustion engine weakens in road transportation, according to base-case projections by IHS Markit.

Total to buy LNG assets from Engie for $2 billion

Total SA has agreed to acquire LNG assets from Engie SA for as much as $2.04 billion. The deal includes interests in liquefaction plants, long-term LNG sales and purchase agreements, an LNG tanker fleet, and access to regasification capacities.

Oil production drop aggravates debt crisis in Venezuela

Venezuela, a lovely country with wonderful people and dreadful governance, staggers toward bankruptcy.

Baker Hughes: US rig count jumps another 8 units to 915

The US rig count climbed again this week with an 8-unit jump to 915 rigs working during the week ended Nov. 17, data from Baker Hughes indicate. Rigs targeting natural gas in the US gained 8 units to reach 177 while those drilling for oil remained unchanged at 738 units.

US House approves tax reform legislation by 22-vote margin

The US House of Representatives approved tax reform legislation Nov. 16 in a 227-205 vote as 11 Republicans joined Democrats in opposing the bill. “We’ve got a long road ahead of us, and we have a timeline to get this done by the end of the year,” Speaker Paul D. Ryan said after the ...

Premier expects Catcher oil field to come on stream this year

Premier Oil PLC expects to lower its $2.8-billion debt after Catcher oil field in the North Sea comes on stream in December, executives recently said. Premier reported third-quarter earnings included $2.8 billion of debt, but analysts say the London independent oil company could reduce debt ...

Rosneft completes 15,000-m horizontal Sakhalin well

Rosneft, a member of the Sakhalin-1 consortium, reported the completion of a 15,000-m horizontal well from Orlan platform in Chaivo field in the Sea of Okhotsk. It’s the world’s longest well, Rosneft said.

TransCanada’s Keystone pipeline leaks 5,000 bbl in South Dakota

TransCanada Corp. shut down its Keystone pipeline at about 6 a.m. CST Nov. 16 after a pressure drop was detected in its operating system resulting from an oil leak that is now under investigation. The estimated volume of the leak is 5,000 bbl. The section of pipe along a right-of-way roughly 35 ...

OMV in group boosting electric transport

OMV AG has joined a joint venture of automakers committed to building a network of fast and powerful charging stations for electric vehicles in Europe. The joint venture, IONITY, includes BMW Group, Daimler AG, Ford Motor Co., and Volkswagen Group. OMV joins as a strategic partner.

Norway urged to divest oil company stocks

The Norwegian government has been advised to shed equity holdings in oil and gas companies from its sovereign wealth fund, the world’s largest. In a letter to the Ministry of Finance, officials of Norges Bank cited the amplified vulnerability of the government’s wealth to oil-price risk.

MARKET WATCH: NYMEX prices drop, settling closer to $55/bbl

Light, sweet crude oil futures dropped to approach $55/bbl on the New York market Nov. 16 during a week in which the US benchmark declined nearly daily, but crude prices gained in early Nov. 17 trading.

ANP: Brazil to build on momentum from robust presalt bid round

Brazil plans to use many approaches as it tries to maintain the momentum from its successful Oct. 27 presalt production-sharing bidding round that raised $1.9 billion in signing bonuses, the leader of its National Petroleum, Natural Gas, and Biofuels Agency told a Washington audience on Nov. 16.

API, CAPP, AMEXHI reiterate support as NAFTA negotiations resume

The American Petroleum Institute, Canadian Association of Petroleum Producers, and Mexican Association of Hydrocarbon Companies jointly reiterated their support for the North American Free Trade Agreement as its renegotiation resumed in Mexico City on Nov. 15. Their latest joint position paper also ...

IEA: Oil demand on a rising trajectory by 2040

According to the International Energy Agency’s World Energy Outlook 2017, up until the mid-2020s, oil demand growth remains robust in the New Policies Scenario but slows markedly thereafter as greater efficiency and fuel-switching bring down oil use for passenger vehicles. IEA’s NPS models ...

New Angola president fires Sonangol chief

Angola’s new president has fired the president of state-owned Sonangol, who was appointed to the position in June 2016 by her father, the former president. Isabel dos Santos implemented a series of reforms at the financially ailing oil and gas company aimed cutting costs and improving ...

MARKET WATCH: NYMEX crude prices drop on inventory gain

Light, sweet crude oil futures dropped modestly on the New York market Nov. 15 after the US government reported a gain in crude oil inventories along with rising production. Total US crude oil production for the week ended Nov. 10 was 9.645 million b/d, up 25,000 b/d of which the Lower 48 accounted ...

US Senate panel adopts Murkowski plan to lease ANWR to meet budget

The US Senate Energy and Natural Resources Committee adopted Chair Lisa Murkowski’s proposal to authorize oil and gas leasing on the Arctic National Wildlife Refuge’s Coastal Plain for federal budget reconciliation purposes. The final 13-10 vote on Nov. 15 ran along party lines, with ...

ADNOC, CNPC agree to offshore collaboration

Abu Dhabi National Oil Co. and China National Petroleum Corp. signed an agreement covering potential collaboration, including potential offshore opportunities and the sour gas development projects.

More Omani blocks assigned on and offshore

In conjunction with Tethys Oil Oman Ltd.’s Block 49 acquisition, Oman’s Ministry of Oil & Gas has signed agreements on two additional onshore blocks and one underexplored offshore block.

ADNOC deals to boost oil output by 380,000 b/d

Abu Dhabi National Oil Co. has advanced two projects that will increase its production by 380,000 b/d of crude oil. In the larger of the projects, the company entered an agreement with partners in supergiant Upper Zakum offshore field to boost production to 1 million b/d from about 650,000 b/d at ...

Devon reports 5,100 boe/d STACK well in Oklahoma

Devon Energy Corp. expects to increase net production in its Oklahoma STACK development to more than 120,000 boe/d by yearend, bringing an estimated 25 wells online in the fourth quarter.

SandRidge acquiring Bonanza Creek Energy

SandRidge Energy Inc., Oklahoma City, will deepen its inventory of drilling locations in the Denver-Julesburg basin of Colorado under a definitive merger agreement it has entered with Bonanza Creek Energy Inc., Denver.

MARKET WATCH: NYMEX crude prices drop more than $1/bbl

Light, sweet crude oil futures dropped more than $1/bbl on Nov. 14 in New York as did the Brent crude oil contract for February delivery in London as it settled just above $62/bbl.