Industry News

Saipem has been awarded offshore drilling contracts in Norway, Middle East

Saipem has been awarded new contracts in offshore drilling in Norway and Middle East totaling over $200 million.

Shell sets precedent with deal linking gas prices to coal

Royal Dutch Shell agreed to sell liquefied natural gas to a Japanese utility at prices that include a link to coal, the latest innovation in the booming LNG market where buyers are seeking to diversify risks.

Russia's Gazprom names Elena Burmistrova deputy CEO for exports

Russian natural gas giant Gazprom has appointed Elena Burmistrova, the head of Gazprom Export, to the post of deputy chief executive overseeing exports, it said.

Papua New Guinea LNG project to supply Sinopec unit

The ExxonMobil operated Papua New Guinea LNG project has agreed a deal to supply liquified natural gas (LNG) to a unit of China Petroleum & Chemical Corp , Australia's Santos, a partner in the project, said.

Chevron, Woodside apply to nearly double size of Canadian LNG project

Chevron Canada Ltd and Woodside Energy Ltd have applied for a new license for their Kitimat LNG plant in northern British Columbia that could see it nearly double in size to produce 18 million tonnes per annum (mtpa), Chevron said.

Lyondell Houston refinery restoring coker to normal operation

Lyondell Basell Industries is restoring the large coker to normal operation at its 263,776 barrel-per-day (bpd) Houston refinery after a compressor malfunction, said Gulf Coast market sources.

Flooding, refinery outages push gasoline prices higher

Severe flooding in the U.S. Midwest this season has had ripple effects for drivers further west, as washed-out rail lines disrupted ethanol supply, causing spikes in gasoline prices and even forcing some retail stations to shut down.

IMO rules to cause 0.6mln bpd marine gasoil deficit in 2020

The upcoming International Maritime Organization sulfur regulations for marine fuel will lead to a deficit of 600,000 barrel per day of marine gasoil in 2020, according to consultancy Rystad Energy.

BHGE opens Motor Center of Excellence in Oklahoma City

Baker Hughes, a GE company (BHGE) has opened a manufacturing and technology center in Oklahoma City dedicated to advancing the performance, quality and reliability of downhole drilling motors.

Gazprom Neft commissions third production well at Sarqala field

Gazprom Neft subsidiary Gazprom Neft Middle East B.V. has commissioned a third production well at its Sarqala field in the Kurdistan Region of Iraq (KRI).

Neptune Energy, TechnipFMC enter into subsea global Alliance Agreement

The Alliance Agreement between Neptune and TechnipFMC has been signed for an initial five year term with options for further extensions.

Maersk Drilling awarded contract for ultra-deepwater semi-submersible Mærsk Deliverer

Maersk Drilling has announced that the ultra-deepwater semi-submersible Mærsk Deliverer has been awarded a three-year contract by Inpex Australia and joint venture participants for drilling at the Ichthys gas and condensate field in the Browse Basin offshore Western Australia.

Excess supply forces U.S. frac-sand miners to pursue other markets

For the last six years, Kevin Bowen has made a good living selling sand to operators and OFS providers who use it to complete horizontal wells. It was a lucrative market tied to the drilling boom in West Texas.

Trump Signs New Permission for Keystone XL Pipeline

U.S. President Donald Trump has signed a new permission for TransCanada Corp to build the long-delayed Keystone pipeline for imports of Canadian oil, replacing his previous permits in a fresh attempt to get around the blocking of the $8 billion project by a court in Montana.

China is cutting down tariffs on Natural Gas

Starting April 1, China will cut city-gate natural gas prices and trans-provincial natural gas pipeline tariffs, following value-added tax rate reductions, the state planner said on Friday.

US approves commissioning step for Freeport LNG Texas export plant

Freeport LNG’s $13 billion Freeport liquefied natural gas (LNG) export plant in Texas moved a step closer to entering service after federal regulators on Thursday approved a commissioning step for the plant.