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Is This The Next Natural Gas Super Alliance?

Saudi oil giant Aramco could invest in liquefied natural gas (LNG) projects in Russia in the future, Russian Energy Minister Alexander Novak said at a Saudi-Russian investment forum in Riyadh on Monday. “Now we have invited our Saudi colleagues to develop our projects for the production of liquefied natural gas in the north of Russia, we have

Is This The End Of China’s Gas Boom?

Chinese demand for natural gas is forecast to rise by 10 percent this year, a slower growth rate than in previous years, as slowing economic growth impacts demand, state-run Sinopec Gas Company said on Tuesday. “Due to the macroeconomic situation and the government’s easing push to the coal-to-gas program, China’s gas consumption growth is slowing,” Reuters quoted

OILFIELD SERVICE TECHNOLOGY PITFALLS AND HOW TO AVOID THEM

consistent service margin in a volatile market Oilfield service is a tricky business for a number of reasons. But fluctuating demand driven by commodity prices are the root cause behind a number of the challenges executives in this industry face Sometimes, demand for oilfield services pushes up against your company’s constraints in terms of capacity to

India Considers Selling Bharat Petroleum Stake To Oil Major

India weighs selling the state’s majority stake in Bharat Petroleum Corporation (BPCL), the country’s second-largest state-owned refiner, to an international oil company, Bloomberg reported on Friday, quoting people with knowledge of deliberations. As India is currently assessing ways to give up direct majority control in BPCL, it is willing to attract international oil companies to its refining

Oil and gas majors sign deal to implement blockchain in Bakken oilfield

A group of oil and gas companies has agreed to begin testing blockchain, a technology at the heart of digital currencies, in a bid to lower administrative costs in their field operations while also reducing payment disputes and chances for fraud. The OOC Oil & Gas Blockchain Consortium, whose members include Chevron Corp , ConocoPhillips

Exxon Agrees To $4 Billion Sale Of 20 Oil And Gas Assets In Norway

Exxon has agreed to sell off its oil and gas assets in Norway in a $4 billion deal, Reuters sources familiar with the matter said on Thursday, in what will mark an end to its long presence in Norway’s upstream sector. Exxon is selling its minority-held stages in 20 fields, currently operated by Equinor and Shell.

Libya’s Oil Revenues Up 23% In July: NOC

Libya’s National Oil Corporation reported $2.1 billion in income in July from its sales of crude oil and corresponding taxes, NOC said in a press release. The figure represents a 23% increase over June, for an increase of $403 million. The revenue figures come from crude oil sales as well as sales of crude-derived products,

Husky starts production at Dee Valley thermal project

CALGARY – Husky Energy has commenced production at its Dee Valley thermal project in Saskatchewan, the second of six 10,000 bpd thermal bitumen projects to be brought onstream from 2018 to 2022. “Dee Valley is the latest in our deep portfolio of repeatable, small-scale Lloyd developments that provide low-cost, reliable feedstock for our Upgrader, asphalt

U.S. Administration Picks ConocoPhilips For Alaska North Slope Oil Project

The U.S. federal government has selected a preferential development plan for the Willow oil project that is led by ConocoPhillips. The AP reports that the project could boost Alaska’s oil production by 130,000 bpd. Over its estimated lifetime of 30 years, the cumulative production of the Willow project could reach about 590 million barrels of crude. According

US To Sell 10 Million Barrels Of Crude Oil From SPR Next Week

The US will sell another 10 million barrels of sour crude oil, the Department of Energy said on Wednesday in a Notice of Sale, according to S&P Global Platts. The Department of Energy will be accepting offers to purchase the crude through August 28, and  delivery must be taken between October 1 and November 30. The 10-million-barrel