DNV GL Hires Energy, Utilities Managers
DNV GL announced on Friday it has added two new key account managers for Energy North America. Elizabeth Kaiga will work with a wide range of accounts that include utilities, renewable developers, financial organizations and large corporations, all with a focus on renewable energy, while John Costello will focus on the utility industry in the U.S.“Elizabeth and John will lead account teams to expand and strengthen relationships with customers and enhance the services that DNV GL is delivering, both for our core customers and for new customers,” said Richard S.
Pemex Requests $8bn Loan Amid Heavy Uncertainty
Petróleos Mexicanos’ (Pemex) US$8 billion bank loan comes amid heavy investor uncertainty over the oil company’s debt load, but lenders wanting to maintain links with Pemex and the left-wing administration overseeing the firm may have little choice but to commit to the financing.The state-backed oil producer is tapping its relationship banks to refinance a chunk of liabilities, a big ask when there is minimal visibility over Pemex’s refining capabilities and doubts over future revenue for a company that was once a darling among fixed-income investors.“No one is excited about it…
Oil Falls Near 2% as U.S.-China Trade War Intensifies
Oil prices slipped nearly 2 percent on Tuesday, on track to fall to their lowest levels in over a month as renewed doubts over U.S.-China trade talks stoked concerns over global growth and demand even though U.S. sanctions on Iran and Venezuela tightened supply and helped stem losses.Brent futures were down $1.36, or 1.9 percent, at $69.88 a barrel by 10:39 a.m. EDT (1439 GMT), while U.S. West Texas Intermediate crude was down $1.14, or 1.8 percent, at $61.11 per barrel.If the futures close at their current levels, it would be the lowest settle for Brent since April 4 and WTI since March 29.U.S.
DOE Approves Port Arthur LNG Project
The U.S. Department of Energy (DOE) announced the signing of a long-term order authorizing the export of domestically produced liquefied natural gas (LNG) from Sempra Energy’s Port Arthur LNG export project to be built in Port Arthur, Texas. The U.S. Secretary of Energy Rick Perry signed the authorization allowing Port Arthur LNG to export approximately 13.5 million tonnes per annum (Mtpa) of LNG to countries that do not have a free-trade agreement (FTA) with the U.S. during the first U.S.-EU Energy Council High-Level Energy Forum in Brussels…
Wintershall, DEA Complete Merger
The merger between oil and gas firms Wintershall Holding GmbH and Deutsche Erdoel AG (DEA) has been completed, creating the largest independent exploration and production company in Europe.Wintershall DEA will be headquartered in Hamburg, with activities across Europe, Latin America, North Africa and the Middle East. Regulatory approvals have been granted by nine countries including Germany, Norway, the UK and Russia.“We are a European champion and are making an important contribution to Europe’s energy security…
65,000 Wells will be Drilled in 2019
Rystad Energy forecasts that the number of onshore and offshore oil and gas wells drilled globally will increase to around 65,000 in 2019.Activity levels are then projected to remain around this level through 2023, the energy research and business intelligence company said.Rystad Energy also forecasts that more than 1 million kilometers of new oil and gas wells will be drilled over the next five years. The collective depth of these wells is the equivalent of 25 times around the equator…
SGRE Bags 487 MW Mega Order from US
Spanish offshore wind giant Siemens Gamesa Renewable Energy (SGRE) has won two orders totaling 487MW from EDF Renewables North America.SGRE was selected by EDF Renewables North America to supply turbines for the Coyote and Oso Grande projects, located in the United States. The deals further confirm the commercial success of the SG 4.5-145 and feature a service and maintenance agreement for Siemens Gamesa’s premium maintenance program, offering the best in scale and flexibility to maximize energy asset returns.Coyote…
Adnoc Inks Base Oil Deal with IOC
The Abu Dhabi National Oil Company (Adnoc) announced that it has signed another significant long-term sales agreement with Indian Oil Corporation (IndianOil) for its high-quality base oil called ADbase.IndianOil is the largest seller of finished lubricants in the Indian market with approximate volume of 450,000 tonnes per annum. The total Indian market for finished lubricants is 2 million tonnes and is growing at the rate of 2.4 per cent per annum.IndianOil will use the ADbase oils to manufacture high end engine oils for India’s growing automotive sector.Ahmad Bin Thalith…
Halliburton Reports Activity Uptick
Halliburton Co said on Monday a pricing downturn that has plagued the oilfield services sector was bottoming out, as it reported modestly higher activity levels in North America in the first quarter from a year earlier.Oilfield services providers have been struggling with a tightening of spending by U.S. oil producers as they rein in new drilling in response to shareholder pressure for greater returns after a period of heavy investment.The company's shares were up 2.8 pct at $32 before the bell.In contrast to comments from top oilfield services provider Schlumberger NV last week…
TechnipFMC Orders Vallourec Pipes for Mero 1
The provider tubular solutions for the energy markets Vallourec Soluçoes Tubulares do Brasil has been awarded by TechnipFMC in Brazil to supply around 12,000 tons of seamless steel rigid line pipe with outside diameters 8” and 10”.The pipe will be used in the fabrication of the riser and flowline system for interconnecting 13 wells (6 production wells and 7 water alternate gas injection wells), to be installed in the pre-salt field Mero 1, which is part of the giant Libra reservoir.Libra covers an area of 1…
Wintershall Wins Argentina Offshore Bid
Germany's largest crude oil and natural gas producer Wintershall won the bidding process for two blocks in the promising Malvinas Basin off the coast of Tierra del Fuego as part of the “Costa Afuera” licensing round.In addition to the CMA-1 exploitation concession, with this award, the company will participate in further offshore exploration projects in Argentina. The exploration licenses are located approximately 300 km off the southeast coast of Argentina.Wintershall will hold a 27 percent interest in the licenses MLO-114 and MLO-119.
Feed Gas Introduced at Cameron LNG
Cameron LNG has begun pipeline feed gas flow to the first liquefaction train of the liquefaction-export project as it prepares to begin production of liquefied natural gas (LNG) at the facility in Hackberry, La., according to partners involved in the project. This is the final commissioning step for Train 1 of Cameron LNG Phase 1."We expect to start producing LNG this quarter," said Lisa Glatch, chief operating officer of Sempra LNG and board chair for Cameron LNG.Cameron LNG is jointly owned by affiliates of Sempra LNG LLC, Total, Mitsui & Co. Ltd.
Cameron LNG Project in Final Stage
McDermott International, provider of technology, engineering and construction solutions to the energy industry, and its joint venture partner, Chiyoda International Corporation, a U.S.-based wholly-owned subsidiary of Chiyoda Corporation, Japan, announced that Train 1 of the Cameron LNG project in Louisiana has reached the final commissioning stage.This includes the introduction of pipeline feed gas into Train 1 of the liquefaction export facility, the precursor for the production of liquefied natural gas (LNG)…
Keppel Makes First LNG Cargo Import from N. America
Singapore's Keppel Gas, a wholly owned subsidiary of Keppel Infrastructure Holdings, has completed its first liquefied natural gas (LNG) cargo import under Singapore's spot import policy.The policy allows gas customers in the Republic to import up to 10 per cent of their annual long-term contracted LNG intake on a spot cargo basis.The spot cargo of 160,000m3 of LNG originated from an LNG liquefaction project in North America, marking the first time that Keppel Gas has diversified its…
GAC Steps up in Guyana
GAC has opened its newest company in the South American country of Guyana in response to demand for professional shipping and logistics support following the discovery of large reserves of oil and gas in its waters.Bordered by the Atlantic to the north, Brazil to the south and southwest, Venezuela to the west, and Suriname to the east, Guyana covers just 215,000 km². Oil was first struck in 2015, and since then, major discoveries have been made in its deep offshore waters, with production due to start in 2020.The country looks set to emerge as a key player in the oil & gas sector…
Sempra Gets Okay for LNG Export in Mexico
San Diego utility company Sempra Energy Sempra Energy said that its subsidiary Energía Costa Azul (ECA) LNG received two authorizations from the US Department of Energy (DOE) to export US produced natural gas to Mexico and to re-export LNG to countries that do not have a free-trade agreement (non-FTA) with the US.Permission to export to non-free trade agreement nations such as China, Japan and South Korea is desirable status to LNG exporters because due to higher natural gas prices in East Asia.
Nord Stream 2 Expecting Denmark Approval
The Russian-led Nord Stream 2 gas pipeline company expects to receive approval from Danish authorities for a 180-km stretch of the pipeline under the Baltic Sea in time to finish the pipeline by the end of 2019 as planned, a spokesman said on Monday.Nord Stream 2 spokesman Jens Mueller said there was "good reason" to believe Danish authorities would process a second proposal submitted by the project in August 2018 within eight to 12 months, allowing the pipeline to be finished on schedule.Even if the Danes acted late in the year…
Mexico Could Pay Pemex Debt from Stabilization Fund
Mexico's deputy finance minister said on Thursday the government was considering using part of a $15.4 billion public income stabilization fund to pay some debt obligations for heavily leveraged state oil company Pemex.The finance ministry is working on a new design for the fund to make it counter cyclical, deputy minister Arturo Herrera said in an interview with TV network ADN40, during a banking conference in Acapulco.Grappling with Pemex's financial health has been a key challenge for President Andres Manuel Lopez Obrador, who took office in December.
Expro Promotes Two Execs
Oilfield services company Expro announced Thursday it has promoted two company executives.Current Executive Vice President, Alistair Geddes, has been promoted to Chief Operating Officer (COO) with immediate effect, and Keith Palmer has been promoted to Executive Vice President – Product Lines and will be responsible for Expro’s product lines, technology and group engineering.
Murphy Oil Sells Malaysian Assets
Murphy Oil Corp said on Thursday it is exiting Malaysia with the $2.13 billion sale of its oil and gas assets to a Thai company and will use the deal proceeds to pay down debt, buy back shares and fund potential deals in the United States.The buyer, PTT Exploration and Production Public Co Ltd, will also pay Murphy up to $100 million in bonus if certain exploration projects show results before October 2020, the company said.The deal follows moves by other U.S. oil majors to focus their investment and effort in high-yielding shale fields at home after U.S.