Archive for the ‘Production Operations’ Category
Lancaster oil shipments start off the UK
June 18th, 2019 by Latest News
Hurricane Energy PLC has sold the first cargo of crude oil from the early production system on Lancaster field in the West of Shetland area offshore the UK. Hurricane says Lancaster is the UK’s first producing basement field.
PTTEP agrees to acquire Partex Holdings
June 18th, 2019 by Latest News
PTT Exploration & Production Co. has signed an agreement to acquire 100% of Partex Holding from the Calouste Gulbenkian Foundation of Portugal for as much as $622 million. The deal, expected to close by yearend, will boost the Thai company’s net-in…
MARKET: Brent crude falls more than $1/bbl
June 18th, 2019 by Latest News
Brent oil prices fell on the London market by more than $1/bbl for August and September delivery while light, sweet crude oil in New York for July delivery settled under $52/bbl on concerns of the possibility of oil shipment disruptions through the Mid…
MARKET: Brent for August tops $62/bbl
June 17th, 2019 by Latest News
Brent oil prices rose moderately on the London market June 14 with the August contract closing slightly above $62/bbl while light, sweet crude prices in New York held fairly flat, again settling above $52/bbl.
Russia’s Kharyaga field starts gas sales
June 14th, 2019 by Latest News
Zarubezhneft and production-sharing partners have started sales of associated sour gas at Kharyaga oil field in the Nenets Autonomous Region of northwestern Russia.
IEA consecutively cuts oil demand growth forecast
June 14th, 2019 by Latest News
In its latest monthly Oil Market Report, the International Energy Agency cut its forecast for global demand growth in 2019 for a second consecutive month. It is now projected at 1.2 million b/d, reduced from 1.3 million b/d in the previous report and 1…
CSB: Operational lapses led to well blowout, fire
June 13th, 2019 by Latest News
Poor barrier management combined with underbalanced operations performed without proper planning, procedures, or needed equipment to make an Oklahoma natural gas well blow out and catch fire on Jan. 22, 2018, killing five workers in the driller’s cabin…
CAPP: Canadian crude output growth slowing
June 13th, 2019 by Latest News
Canadian production of crude oil and condensate will increase through 2035 but at rates sharply lower than predicted before the crude-price slump of 2014-15 and the onset of problems associated with pipeline congestion. In its annual outlook for crude …
MARKET: NYMEX oil prices plunge more than $2/bbl
June 13th, 2019 by Latest News
Light, sweet crude oil prices for July and August dropped steeply by more than $2 on July 12 to settle below $52/bbl on the New York market while Brent crude oil also dipped by more than $2 in London to settle under $60/bbl.
World Bank: Global gas flaring up 3% in 2018
June 12th, 2019 by Latest News
Flaring of natural gas rose 3% year-to-year in 2018 to an estimated 145 billion cu m, the World Bank’s Global Gas Flaring Reduction Partnership disclosed on June 12. The growth was associated with increased US crude oil production, although US flaring …