Industry News

Asia's oil refiners rush to deal with U.S.-China trade war, looming Iran sanctions

SINGAPORE (Reuters) - Asian oil refiners are racing to secure crude supplies in anticipation of an escalating trade war between the United States and China, and as Washington plans tough sanctions against Iran aimed at shutting the country out of oil markets.

Nigeria's Dangote expects new oil refinery to account for half of group assets

LAGOS, (Reuters) - An oil refinery being built by Aliko Dangote will account for half of his conglomerate's assets when it is finished next year, a senior executive told Reuters, underscoring the scale of the bet being made by Africa's richest man on Nigerian oil and gas.

Taiwan agrees preliminary LNG purchase deal with U.S. producer

LONDON (Reuters) - Taiwan’s CPC Corp announced a preliminary deal to buy liquefied natural gas (LNG) from U.S. producer Cheniere Energy for 25-years, according to a statement.

Japan's Inpex delays production from giant Australia gas project

TOKYO (Reuters) - Japan’s Inpex Corp has delayed gas production from its giant Ichthys field off the coast of Australia just weeks after giving assurances that output would start imminently.

AkzoNobel Specialty Chemicals to upgrade Rotterdam chlor-alkali plant

AkzoNobel Specialty Chemicals will upgrade its Rotterdam chlor-alkali plant to strengthen development of the local industrial cluster.

Enbridge to sell its Canadian natural gas gathering & processing businesses for $4.31B

CALGARY, /PRNewswire/ - Enbridge Inc. (Enbridge or the Company) announced that it has entered into definitive agreements to sell its Canadian natural gas gathering and processing business

Iran threatens to stop exports from the Strait of Hormuz

Iran will stop oil exports from the Strait of Hormuz, the world’s most important oil chokepoint, if the U.S. succeeds in halting crude sales from the Persian Gulf nation, a Revolutionary Guards official said.

Lundin identifies additional resource potential at Edvard Grieg field

Lundin Petroleum AB has announced that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has successfully completed the PDO development drilling program at its operated Edvard Grieg field on the Utsira High, in the Norwegian North Sea.

Eni hopes for second Egypt gas bonanza

With production from the vast Zohr offshore gasfield rising fast, Eni is to start exploring another potential play

Oil falls from three-year high as Trump pushes Saudis to pump more

Oil fell from the highest level in more than three years after U.S. President Donald Trump piled pressure on Saudi Arabia to increase output and tame prices.

Hess Corp. announces $400-million sale of Utica shale acreage

Hess Corporation announced that it has entered into an agreement to sell its joint venture interests in the Utica shale play in eastern Ohio to Ascent Resources.

Alaska LNG preparing equity offering, open to joint ventures

Alaska Gasline Development Corp (AGDC) is preparing an equity offering for this summer and is open to partnering with a major energy firm on the development of its $43 billion Alaska LNG export terminal and pipeline project.

Tellurian to make decision on Louisiana LNG facility in early 2019

The co-founder and chairman of Tellurian Inc said the U.S. natural gas company expects to make a final investment decision on its proposed Driftwood liquefied natural gas export facility in Louisiana in the first quarter of 2019.

Clariant enhances capabilities at Clinton, Oklahoma U.S. facility

Clariant, a world leader in specialty chemicals, hosted a Grand Opening Event for their new facilities based in Clinton, Oklahoma. The site, for which Clariant has made a significant investment, is a strategic location to support the growing oil and gas industry within the Mid-Continental (Mid-Con) region with a focus on the STACK and SCOOP.

Iran closer to fuel self-sufficiency, aims to export

Iranian President Hassan Rouhani said Tehran was closer to its goal of self-sufficiency in gasoline production after inaugurating the second phase of the Persian Gulf Star Refinery in the southern port city of Bandar Abbas.

ExxonMobil progressing expansion of lubricant base stocks and fuels production in Singapore

ExxonMobil said that it is progressing a multi-billion dollar project at its integrated manufacturing facility in Singapore to produce higher-value products and expand lubricant base stocks production to meet growing demand.