Industry News

Cyprus offshore: Turkey turns up the heat

The prospects for monetising natural gas discovered off Cyprus have risen, but so has the geopolitical temperature

Canadian Oil Pipeline Congestion Sets up Lucrative Storage Play

Upheavals in the Canadian crude market are creating opportunities for firms with sizeable long-term leases on Alberta storage tanks, including Mercuria Energy Group and the trading arm of oil major BP.

5 Workers Hurt in Houston-Area Natural Gas Line Explosion

Five workers have been injured when a CenterPoint Energy natural gas line exploded in a residential neighborhood southeast of Houston.

Oil price puzzle as sanctions choke Iran exports

Which direction is the price of Brent crude heading following deployment of a US naval and B-52 bomber strike force to the Middle East? The answer is complex

Shorter queues at the pump, more tax

US states are rolling out fresh gasoline taxes at a time when US road fuel demand has already gone flat

Total declares force majeure on jet fuel

France’s Total declared force majeure on the production of jet fuel at its Leuna refinery in Germany following the supply of contaminated crude from Russia.

U.S. hydrocarbon gas liquids production reaches 5Mbpd

U.S. production of hydrocarbon gas liquids (HGLs) reached 5 million barrels per day (Mbpd) in 2018, an increase of more than 0.5 Mbpd (13%) over 2017 levels. HGLs accounted for over a quarter of total U.S. petroleum products output in 2018.

JV buys 80% of Antipinsky refinery

SOCAR Energoresurs, a joint venture between Russia’s largest lender Sberbank and a group of investors, has acquired an 80% stake in Russia’s Antipinsky oil refinery, Sberbank said.

McDermott reaches Mozambique LNG development agreement

McDermott International, Inc. announced that CCS JV, a joint venture between McDermott, Saipem and Chiyoda, has reached full agreement for a contract with Anadarko Petroleum Corporation for the Mozambique Area 1 Liquefied Natural Gas (LNG) Development.

Ichthys LNG plant offers cargoes for June loading

Australia’s Ichthys liquefied natural gas (LNG) plant has offered two cargoes for loading in June, two industry sources said.

Natural gas flaring hits record high in Q1

Natural gas flaring and venting in the top U.S. oil field reached an all-time high in the first quarter of the year due to the lack of pipelines, at a time of increased focus on environmental concerns about methane emissions.

BSEE establishes investigation panels to address recent GOM incidents

Bureau of Safety and Environmental Enforcement (BSEE) Gulf of Mexico Regional Director Lars Herbst has established two panels to investigate two serious incidents that occurred in the Gulf of Mexico last week.

CGG to collaborate with Microsoft to deliver cloud-based geoscience data, technologies

CGG, a leading geoscience company, is pleased to announce collaboration with Microsoft to deliver its geoscience products, data and services on Microsoft Azure and accelerate Exploration and Development workflows for its oil and gas company clients.

Camber Energy has regained compliance with NYSE American

As a result of such compliance, the company is now in full compliance with all NYSE American continued listing requirements and effective on June 6, 2019, the below compliance (BC) indicator will be removed from the company's common stock and the company will be removed from the NYSE American list of non-compliance issuers.

Glencore's head of oil, Alex Beard, retires amid U.S. probes

Glencore’s head of oil, Alex Beard, who helped make the firm one of the world’s top three oil trading houses, will retire this month, the company said in yet another management shake-up amid U.S. probes into its activities.

Cheniere to build Louisiana Sabine Pass 6 LNG export train

U.S. liquefied natural gas (LNG) company Cheniere Energy Inc said it will build the sixth liquefaction train at its Sabine Pass LNG export terminal in Louisiana.