Tuesday, March 26, 2019

Gas Producers News

Schlumberger, Rockwell Form Automation JV

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Industrial automation and information company Rockwell Automation and oilfield services provider Schlumberger have teamed up to create what they're calling the first fully integrated digital oilfield automation solutions provider.The new Houston based joint venture, Sensia, is expected to begin serving customers in the summer of 2019, subject to regulatory approvals and other customary conditions.“Oilfield operators strive to maximize the value of their investments by safely reducing the time from drilling to production…

Australia's Best Option is LNG Imports

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Australia has painted itself into a corner with its natural gas industry and faces the stark reality that there are no easy choices to alleviate the dual problem of a looming supply crunch and the associated higher prices.Australia is far from the first country to find itself with an energy issue, but it is unusual insofar as the country is about to become the world's largest exporter of liquefied natural gas (LNG), and still it can't get its policy settings right to ensure domestic supplies.It sounds counter-intuitive and somewhat bizarre…

BP Names New Head of Wind Power Business

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The head of BP's wind energy business Laura Folse will retire at the end of month, three years after taking the role, a company spokesman said on Monday.Folse, who joined BP in 1982, will be replaced by Al Vickers, currently vice president of technical functions in the operations of BP's upstream, or oil and gas, business. He will be Houston based.BP's wind division includes 11 onshore wind farms in the United States and is one the biggest renewable energy businesses among the world's top oil and gas producers.

LNG Only Fills Niches in Europe

Pic: Wintershall Holding GmbH

Although LNG (Liquid Natural Gas) provides a solid supplement to European gas supplies, the EU is and will remain a pipeline market – for good reasons, said Wintershall's new position paper.The report from Germany's largest crude oil and natural gas producer on the importance of liquid gas for Europe said that the liquefaction is highly energy-intensive – the energy consumption corresponds to about 13% of the gas transported.With an energy loss of less than five percent, pipelines are much more energy-efficient.

Schlumberger Sees International Growth in 2019

Boosting technology from Schlumberger's OneSubsea (File image: Schlumberger)

Schlumberger NV on Friday reported quarterly revenue that topped estimates and forecast single-digit growth in international markets this year even as crude prices have tumbled roughly 30 percent since October.With the drop in oil prices many producers were evaluating spending budgets for 2019, stoking concerns that a slowdown in activity would hurt oilfield service companies that have struggled to boost prices since the 2014 downturn.Schlumberger…

Adnoc Fleet Slashes Carbon Emission 23%

Image: Adnoc

Adnoc Logistics & Services (Adnoc   L&S) announced that it has reduced fuel consumption and carbon emissions by 23% across a fleet of 27 vessels.The marine and logistics subsidiary of the Abu Dhabi National Oil Company (Adnoc ) said in a press release that the ‘Al Daffah Energy Efficiency Project’ is one of many ongoing initiatives by the shipping and logistics giant to deliver greater operational efficiency and a more competitive offering to…

CNOOC Storing LNG Offshore

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China's state-owned CNOOC is temporarily storing liquefied natural gas (LNG) in a tanker off South Korea as a warmer than usual winter cuts expected spot demand for the fuel, industry sources said on Wednesday.China faced a severe winter gas shortage last year after switching millions of households to natural gas from coal for heating, prompting Chinese companies this winter to secure supply well ahead of time, they said.However, the winter…

Novatek, Saibu Gas Ink MoU

Image: Novatek

Russia's largest independent natural gas producer Novatek said it had agreed with Japan's Saibu Gas to study the possibility for the Russian company to enter the Japanese energy market.Novatek said in a press release that PAO Novatek and Saibu Gas Co Ltd signed a  Memorandum of Understanding (MOU), whereby the parties agreed to consider potential cooperation to enter the end-customer market and optimize Novatek’s LNG portfolio supplies to the…

US Shale Producers Curb 2019 Spending

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U.S. shale producers are slamming the brakes on next year's drilling with crude prices off 40 percent and mounting fears of oversupply, paring budgets that in some cases were set only weeks earlier.The reversal is alarming because blistering growth in shale fields has propelled U.S. crude output 16 percent to about 10.9 million barrels per day for 2018, above Saudi Arabia and Russia. Production has been expected to rise 11 percent more in 2019…

Hunting Expects Oil Producers to Defer Projects

(Photo: Hunting)

British oilfield services company Hunting Plc expects oil and gas producers to defer some projects as a recent decline in crude prices could hit their short-term budgets, it said on Monday.Oilfield service companies, including U.S.-based Schlumberger, have been hit this year by a slowdown in demand as regional oil prices have fallen and oil-producing customers face transportation bottlenecks."Clients are indicating caution on committed spend…

PetroChina Strikes Large Flows in Tarim Exploration Well

PetroChina Co Ltd struck sizeable oil and gas flows in an exploration well in the Tarim basin of the remote northwestern region of Xinjiang, marking a breakthrough in exploring an earlier untapped region, parent CNPC said on Thursday.Zhongqiu-1 well tested a daily natural gas flow of 330,000 cubic metres and 21.4 cubic metres of condensate, a super light crude oil, CNPC said on its news portal news.cnpc.com.cn.The well is located in the southern part of Kuche trough in the Tarim basin and part of an exploration zone with a size of 5,200 square kilom

Qatar Quits OPEC to Focus on LNG

Saad Sherida Al-Kaabi. Photo: Qatar Petroleum

Qatar said Monday that it will leave the oil cartel OPEC on January 1 after nearly 60 years. The announcement was made in a series of tweets.Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, announced Qatar’s withdrawal from OPEC and said the organization was informed.Qatar is one of the cartel’s smallest oil producers, but is the world’s largest exporter of liquefied natural gas.The abrupt annoucement from the small, gas-rich…

Addax Petroleum Extends Yinson’s Adoon FPSO Deal

FPSO Adoon - Nigeria. Image: Yinson

Nigeria-focused oil company Addax has extended the charter for the Yinson-owned FPSO Adoon for another three months, pending discussion for a potential longer-term deal."Unless otherwise expressly defined in this announcement, terms and expressions used in this announcement shall have the same meaning as ascribed to them in our earlier announcements made in October 2018," the Malaysian-based Floating, Production, Storage and Offloading (FPSO…

Novatek Ships First LNG Cargo To China Via Arctic

Image: Novatek

Novatek Gas and Power Asia, wholly owned subsidiary of Russia’s largest independent natural gas producer Novatek, shipped a cargo of liquefied natural gas (LNG) produced from the Yamal LNG project to China National Offshore Oil Corporation (CNOOC).The LNG cargo was delivered to Fujian LNG Terminal in China via the Northern Sea Route (NSR) by an Arc7 ice-class LNG carrier in 20 days, completing the NSR part of the journey in 7.5 days.A release from the natural gas producers quoted Leonid Mikhelson…

Serica Energy to Buy BHP Stake in North Sea Fields

Image: Serica Energy

North Sea operator Serica Energy has struck a deal with commodities giant BHP Billiton to up its stakes in two North Sea fields, taking it above 90 per cent ownership of the assets.Under the a sale and purchase agreement (SPA), Serica UK will acquire a 16.00% interest in the Bruce field and a 31.83% interest in the Keith field and associated infrastructure (BHP Assets) from BHP Billiton Petroleum Great Britain Limited.The structure of the Transaction…

Yarudeyskoye Field Produced 10 MT of Crude Oil

Image: PAO Novatek

PAO Novatek announced that cumulative production at the Yarudeyskoye field owned by the Company’s subsidiary Yargeo, reached a milestone of 10 million tons of crude oil production since the commencement of operations.The field’s commercial production commenced in December 2015, and by January 2016, the field reached its full productive capacity, said a press release from the Russia's largest independent natural gas producer.The Yarudeyskoye field is the largest crude oil asset in the Company’s portfolio…

Baker Hughes Acquires 5% of ADNOC Drilling for $550 Mln

(Photo: ADNOC)

Baker Hughes, the world's second-largest oil services company, will take a 5 percent stake in Abu Dhabi National Oil Company's (ADNOC) drilling unit for $550 million under a tie-up announced on Monday.Baker Hughes (BHGE) becomes the first foreign company to take a stake in one of state-owned ADNOC's services companies under the agreement which values ADNOC Drilling at about $11 billion.It will allow Baker Hughes to cement its presence in the Middle East…

Novatek, Siemens Sign LNG Partnership

Pic: Novatek

Russia's natural gas producer Novatek and German engineering giant Siemens have signed a strategic partnership agreement that covers cooperation in the liquefied natural gas (LNG) sector.Novatek said in a press release that the agreement was signed by Novatek Chief Executive Leonid Mikhelson and his Siemens counterpart Joe Kaeser in Moscow.According to the agreement, the parties intend to strengthen and develop the strategic partnership and cooperation in integrated gas-to-power projects on a “turn-key” basis inclusive of LNG supply…

Russia's Novatek Ships First LNG Cargo to Brazil

Image: Novatek

Russian natural gas producer Novatek has shipped its first LNG cargo to the Brazilian market with LNG produced from the Yamal LNG project.A statement from PAO Novatek said that its wholly owned subsidiary, Novatek Gas and Power Asia Pte. Ltd. has shipped its first LNG cargo to the Brazilian market with LNG produced from the Yamal LNG project. The cargo was delivered to the Bahia Regasification Terminal owned by Petrobras.“Our LNG marketing strategy aims to diversify our supply geography and customer base…

In U-turn, Exxon, Chevron to Join Rivals in Climate Initiative

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Exxon Mobil, Chevron and Occidental Petroleum are joining a group of international oil and gas giants in an initiative aimed at curbing carbon emissions in the sector, they said in a statement on Thursday.The move marks a U-turn for Exxon Mobil and Chevron, the top two U.S. oil and gas producers which had resisted joining the Oil and Gas Climate Initiative (OGCI) after its launch in 2016.The OGCI currently comprises 10 firms including BP, Royal Dutch Shell, France's Total as well as national oil companies of China, Mexico, Brazil and Saudi Arabia.