Archive for the ‘General Interest’ Category
MARKET: US oil benchmark falls under $52/bbl
June 6th, 2019 by Latest News
Light, sweet oil for July fell $1.80 in New York June 5 to settle under $52/bbl while the Brent contract for August dropped $1.34 to settle under $61/bbl in London after a US government report showed US crude inventories at the highest since July 2017.
Angola to offer 10 blocks in bid round
June 5th, 2019 by Latest News
Angola’s new licensing agency will offer 10 oil and gas blocks in the first of several auctions it plans in a 6-year strategy. Paulino Jeronimo, chief executive officer of the National Agency of Petroleum, Gas, and Biofuels (ANPG) said at a conference …
CAPP: Oil, gas investment should double
June 5th, 2019 by Latest News
The Canadian Association of Petroleum Producers seeks federal support for a doubling over the next 4 years of now-slumping investment in Canada’s oil and gas industry. The group made conditions supporting such a recovery part of wish list for the next …
EIA: US crude inventories up 6.8 million bbl
June 5th, 2019 by Latest News
US crude oil inventories for the week ended May 31, excluding the Strategic Petroleum Reserve, increased by 6.8 million bbl from the previous week, according to data from the US Energy Information Administration. Separately, the American Petroleum Inst…
Canadian oil sands production growth is slowing, yet total production is expected to reach nearly 4 million b/d by 2030—nearly 1 million b/d more than current levels—according to a 10-year production forecast by IHS Markit. The business information pro…
Dragon Oil due BP’s Gulf of Suez interests
June 5th, 2019 by Latest News
Dragon Oil, Dubai, has agreed to buy BP PLC’s producing and exploration concessions in Egypt, including the British company’s interest in Gulf of Suez Petroleum Co. The move is part of BP’s plan to divest more than $10 billion of assets globally over t…
Anadarko lets contract for Mozambique LNG project
June 5th, 2019 by Latest News
Anadarko Petroleum Corp. has let an engineering, procurement, and construction contract to CCS JV, a joint venture of McDermott International Inc., Saipem, and Chiyoda, for the Mozambique Area 1 LNG Development.
MARKET: Brent for August rises to approach $62/bbl
June 5th, 2019 by Latest News
Light, sweet oil for July climbed modestly on the New York market to settle above $53/bbl June 4 while the Brent contract for August also gained to settle at nearly $62/bbl in London. Oil prices, along with other stocks and commodities, have been press…
US Transportation Sec. Elaine L. Chao submitted a legislative proposal to Congress on June 3 that would reauthorize safety programs at the US Pipeline and Hazardous Materials Safety Administration (PHMSA) from fiscal 2020 through 2023. It also would st…
Total to takeover Toshiba LNG portfolio
June 4th, 2019 by Latest News
Total SA has agreed to take over Toshiba’s portfolio of LNG, including a 20-year tolling agreement for 2.2 million tonnes/year of LNG from Freeport LNG Train 3 in Texas and the corresponding gas transportation agreements on the pipelines feeding the te…