Wednesday, April 1, 2020

North America News

COVID-19 Oil Demand Hit Renders OPEC+, Trump Actions Irrelevant

Imagine for a moment that the Organization of the Petroleum Exporting Countries (OPEC) and Russia had agreed at the start of this month to extend and deepen their crude oil output cuts. It wouldn't have made the blindest bit of difference.While it was only three and half weeks ago, though it feels as long as a lifetime…

Saudi Aramco Launches Largest Shale Gas Development Outside US

Amin H. Nasser (Photo: Saudi Aramco)

Saudi Aramco is launching the biggest shale gas development outside of the United States to boost domestic gas supply and end the burning of oil at its power generation plants, Chief Executive Officer Amin Nasser told Reuters on Monday.The world's top crude oil exporter has for years battled for market share with rapidly expanding shale oil producers in the United States…

TWMA Appoints Aslaksen as New CEO

Halle Aslaksen  (Photo: TWMA)

Specialist drilling waste management company, TWMA, has announced the appointment of Halle Aslaksen as its new CEO.Aslaksen joins the Aberdeen-headquartered company from the Norwegian hydropower operator Småkraft, where he served as CEO. He was previously CEO at TCO and president of ALTUS Intervention in Scandinavia.With more than 20 years’ experience in the oil and gas industry…

Cheniere Drops Lawsuit Against Tellurian Board Members

Tellurian Inc on Thursday said Cheniere Energy Inc has dismissed all claims against its Chairman Charif Souki and Vice Chairman Martin Houston.Cheniere Energy, the largest U.S.

Global Demand Lifts Schlumberger Profits

© Igor Golovnev / Adobe Stock

Schlumberger NV reported a 9.4% rise in adjusted quarterly profit on Friday, as buoyant demand in international markets helped the world's largest oilfield services provider make up for lower drilling activity in North America.Net income fell to $333 million, or 24 cents per share, in the fourth quarter ended Dec.

Nordex Wind Energy Orders Top 6.2GW in 2019

Image: Nordex Group

The turbine manufacturing and installation company Nordex Group booked turbine orders totaling 6207MW in 2019, up 31% on the 4754MW in 2018.The German manufacturer secured deals with a combined capacity of 1477MW in the fourth quarter of last year, which was down on the 1679MW in the last three months of 2018.Overall, the Nordex Group received orders to deliver 1…

China Opens Up to Foreign E&P Firms

© ddukang / Adobe Stock

For the first time, China will this year allow foreign companies to explore for and produce oil and gas in the country, opening up the industry to firms other than state-run energy giants, as Beijing looks to boost domestic energy supplies.The long-awaited opening accompanies a reshuffle of the so-called "midstream" pipeline business, but experts say it may not excite immediate interest from globa

Sempra LNG, Aramco Sign Deal

 Image: Saudi Aramco

North American energy infrastructure company Sempra Energy and Saudi Aramco's Aramco Services Company, signed an Interim Project Participation Agreement for the Port Arthur LNG export project under development in Jefferson County, Texas.According to a press release, the IPPA represents another milestone for both companies…

Oil Consumption Tracking is All About Asia

© Vic / Adobe Stock

Oil market analysts must make sense of a bewildering array of statistics about production, consumption and inventories, compiled and published with varying definitions and degrees of accuracy and timeliness.The challenge is to form an accurate and nuanced picture of the whole market capable of generating useful forecasts…

Ocean LNG Leads in Contracted Capacity

Graph: GlobalData

Ocean LNG has dominated in terms of long-term liquefied natural gas (LNG) import volumes for contracts signed by key purchasing companies for the year 2019, with almost 47% of the global contracted capacity.According to a report by GlobalData, Ocean LNG signed the biggest long-term LNG contract for 2019 with Golden Pass Products.

Texas Petrochemical Fire Continues to Burn

AdobeStock / © Sharrif Che' Lah

Three workers were injured in a massive explosion on Wednesday that sparked a blaze at a Texas petrochemical plant, the latest in a series of chemical plant accidents in the region.An initial blast at a TPC Group complex in Port Neches, Texas, was followed by secondary explosions that shattered windows, blew locked doors…

Cheap LNG from Qatar Imperils N.American Projects

Cheniere's Sabine Pass LNG Terminal (CREDIT: Cheniere)

Proposed projects to export liquefied natural gas (LNG) from North America face an uphill battle against Qatar, which announced plans to further ramp up production to hold onto its position as the world's leading LNG exporter.The United States is on track to overtake Qatar and Australia as the top LNG exporter by 2024,…

Three Injured in TPC Port Neches Explosion

Three workers were injured in an early Wednesday explosion that sparked a blaze at a petrochemical plant in Port Neches, Texas, the latest in a series of chemical plant accidents in the region.An initial explosion at the TPC Group plant was followed by secondary blasts, shattering windows and blowing locked doors off their hinges in homes near the facility…

EIA, IEA Grossly Overestimating US Shale: ESAI

 Pic: ESAI Energy

ESAI Energy, an oil & energy data provider, believes both the US Energy Information Administration (EIA) and the International Energy Agency (IEA) are overly optimistic in their November projections of US crude oil production in 2020, according to the company’s latest North America Watch.ESAI Energy sees a deceleration in growth to about 650…

US Signs Highest LNG Export Contract

Graph: GlobalData

US signed highest volume of global long-term liquefied natural gas (LNG)  export contracts in 2019, accounting for around a 67% of global share. Abundant shale gas production in the US has enabled the country to export natural gas as LNG. to global markets. According to GlobalData, the US has signed five long-term contracts in 2019 for the export of 22.3 million tonnes per annum (mtpa) of LNG.

Oil Majors to Raise $27Bln in Selling Spree

Pic: Rystad Energy

Global giants of the oil and gas industry – the so-called supermajors – are looking to sell assets that could fetch a total of $27.5 billion, according to Rystad Energy’s latest assessment.These companies are actively shedding mature assets on a massive scale in a bid to finance higher-yielding investments elsewhere, with…

APAC to Fuel Global Wind Power

Graph: GlobalData

Global wind power market size increased from $71.6bn in 2010 to $96.4bn in 2018. During the 2019–2030 forecast period, significant capacity additions in the Asia-Pacific (APAC) region are expected to drive that market, increasing the market size to $124.6bn by 2030.A report from GlobalData revealed that China is the global…

Aramco Signs 34 EPC Contracts Worth $18bn

Saudi Aramco delivers crude oil cargo at Pengerang Deepwater Terminal 2 in Malaysia. Photo: Saudi Aramco

Saudi Aramco has signed 34 engineering, procurement and construction (EPC) related contracts (worth over US$18bn) for projects such as the Marjan and Berri field incremental development program in Saudi Arabia, during Q3 2019, according to GlobalData.The most important is ADNOC’s US$3.6bn contract for the supply of one…

Offshore Wind: a Freshening Breeze?

AdobeStock_CREDIT Yauhen Suslo

July brought news about offshore wind. There was something for everyone: optimism, disappointment, and construction, too.Finally, starting with Dominion Energy’s Coastal Virginia Offshore Wind Project, a joint venture with Danish wind developer Orsted is underway. True, this is a small project – just two wind turbines to be installed 27 miles east of Virginia Beach.

Mayflower Wins 800MW Massachusetts OWF

Image: Mayflower Wind

Mayflower Wind Energy, a joint venture of Shell New Energies US and EDPR Offshore North America, has been chosen by Massachusetts for an 804-MW offshore wind farm (OWF), located 20 miles south of Nantucket.“Mayflower Wind is proud to have been selected to provide low cost renewable energy to Massachusetts,” said Mayflower Wind President John Hartnett.