Archive for the ‘Oil & Gas Journal’ Category
Lukoil, KazMunayGaz mull Kazakh block JV
June 11th, 2019 by Latest News
Lukoil and KazMunayGaz have signed a heads of agreement calling for negotiation of mineral rights on the I-P-2 block offshore Kazakhstan. The block is 130 km off Aktau in 300-400 m of water. Lukoil said 2D seismic surveys have been shot over the a…
Petrobras, SBM sign LOI for Mero 2 FPSO
June 11th, 2019 by Latest News
Petroleo Brasileiro SA (Petrobras) signed a letter of intent with SBM Offshore for a 22.5-year lease and operation of the Mero 2 floating production, storage, and offloading vessel to be installed on giant Mero oil field in the Santos basin offshore Br…
ExxonMobil proceeds with Vaca Muerta expansion
June 11th, 2019 by Latest News
ExxonMobil Corp. announced plans to proceed with long-term oil development on Bajo del Choique-La Invernada block within Argentina’s Vaca Muerta basin. The project is expected to produce as much as 55,000 boe/d within 5 years. The project will include …
MARKET: Brent for August drops $1/bbl
June 11th, 2019 by Latest News
Brent crude oil for August delivery dropped by $1 to dip below $63/bbl on June 10 while light, sweet crude oil prices for July and August delivery also dropped moderately but both settled above $53/bbl. Ole Hansen of Saxo Bank said, “Crude oil began th…
Phillips 66 forms crude oil pipeline JVs
June 10th, 2019 by Latest News
Phillips 66 has formed two separate 50-50 joint ventures to build pipelines that will transport crude oil from the Rockies and Bakken production areas to Cushing, Okla. and from Cushing and the Permian basin in West Texas to the Gulf Coast.
The US Environmental Protection Agency issued new guidance on states’ certification authority under Section 401 of the Clean Water Act. The guidance provides recommendations to clarify and streamline the certification process and to promote greater inv…
Tariffs on Mexico
June 10th, 2019 by Latest News
In ways both narrow and sweeping, US tariffs imposed on Mexican goods in response to illegal immigration would hurt the oil and gas industry.
OGJ’s new new owner
June 10th, 2019 by Latest News
Until Apr. 3, 2018, the Oil & Gas Journal had not had a new owner since Apr. 20, 1910. Now it has had two of them.
Devon Energy Corp., Oklahoma City, has set a methane-intensity rate target for its US oil and natural gas production operations of 0.28% or lower by 2025. In 2018, Devon’s methane-intensity rate was estimated at 0.32%, which is pending US Environmental…
Indian refiners plan long LPG pipeline
June 10th, 2019 by Latest News
Three state-owned refiners in India have agreed to form a joint venture to lay what they say will be the world’s longest LPG pipeline, spanning 2,757 km between Kandla, Gujarat, and Gorakhpur, Uttar Pradesh. Indian Oil Corp. will hold a 50% share …