Industry News

Largest Libyan oilfield ready to restart

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.

Chevron CEO vows to work with U.S. to remain in Venezuela

Chevron Corp., CEO Mike Wirth pledged to work closely with the U.S. to remain in Venezuela despite a spiraling crisis that has led rival oil major Total SA to retreat.

BP starts gas production from the second stage of Egypt's West Nile Delta

BP has announced first gas production from the second stage of its West Nile Delta development offshore Egypt.

CGG, TGS to conduct Greater Castburg survey

CGG and TGS announce the Greater Castberg TopSeis survey in the Barents Sea.

Egypt dangles incentives to draw more oil, gas investors

Egypt is finalizing details of a new type of oil and gas contract to attract even more foreign investment than the $10 billion already coming into its energy industry this year.

Apache allocates ~$75% of its reduced budget of $2.4 billion to U.S. projects

Apache Corporation has announced that its board of directors has approved a 2019 upstream capital budget of $2.4 billion.

Lukoil begins drilling new production wells at West Qurna-2

Lukoil commenced drilling of new production wells at West Qurna-2 field as part of the second development phase. The company has so far concluded contracts to drill 57 production wells, including 54 wells at Mishrif formation and 3 wells at Yamama formation.

What crash? Big oil proves the crude price is just a number

The crude market had its worst quarter in four years but you wouldn’t be able to tell by looking at Big Oil’s stellar earnings numbers.

South Africa's major offshore discovery opens prospect of drilling boom

South Africa’s first deep-water discovery, reported Thursday by French oil major Total, may prompt a rush of activity offshore by competitors as the country works to cut its reliance on imported fuels.

France joins U.S. in questioning gas pipeline backed by Merkel

In a last-minute announcement, France agreed to back a European Union proposal creating hurdles for a controversial natural-gas pipeline, rejecting an appeal by German Chancellor Angela Merkel’s government.

Anadarko signs long-term deal with CNOOC for Mozambique gas

Anadarko Petroleum Corp said a long-term agreement had been signed with the trading division of China’s state-owned offshore oil and gas producer CNOOC Ltd to supply liquefied natural gas (LNG) from Mozambique.

India's top gas importer won't bid for Bangladesh's planned LNG terminal

India’s top gas importer Petronet LNG will not bid for the proposed 7.5 million tonnes per annum (mtpa) liquefied natural gas terminal in Bangladesh and instead wants a government-to-government deal, its managing director Prabhat Singh said.

LNG contract delayed as players focus on Brexit

European energy bourse EEX Group is delaying to the second quarter a major expansion into Asia involving the launch of a liquefied natural gas (LNG) contract that it had initially planned for this month, its Asia head said.

The United States expands its role as world’s leading ethane exporter

U.S. exports of ethane have increased from nearly nothing in 2013 to an average of 260,000 barrels per day through the first 10 months of 2018, accounting for about one-sixth of U.S. hydrocarbon gas liquids exports.

Refiner Marathon to replace Venezuela crude with Middle East, Latin America imports

U.S. refiner Marathon Petroleum Corp would replace crude oil from Venezuela with imports from the Middle East and Latin America, a top company executive said.

Long, strange trip: How U.S. ethanol reaches China tariff-free

In June, the High Seas tanker ship loaded up on ethanol in Texas and set off for Asia.