Industry News

ExxonMobil drilling heralds oil era in Guyana

http://www.petroleum-economist.com/articles/politics-economics/south-central-america/2018/exxonmobil-drilling-heralds-oil-era-in-guyana

Shell seen reclaiming dominance in Texas shale country

Shale oil hasn’t always been Royal Dutch Shell Plc’s best friend, but they’re working on the relationship.

OPEC faces a bigger problem in Washington than Trump tweets

American politicians are at it again: punching OPEC.

Chevron starts second production unit at Wheatstone LNG in Australia

Chevron Corp has started producing liquefied natural gas (LNG) at the second unit of its $34 billion Wheatstone development, marking the completion of its two megaprojects in Australia

ExxonMobil considers importing LNG to Australia

ExxonMobil Corp, southeastern Australia's biggest gas supplier, is considering importing liquefied natural gas (LNG) to help plug a looming gas shortage from 2021 and protect its market share.

EPA won't force refiners to make up waived biofuels volumes

NEW YORK, (Reuters) - The U.S. Environmental Protection Agency said on Friday it cannot make large oil refineries blend additional biofuels into their gasoline to make up for volumes waived under the small refinery hardship waiver program unless Congress authorizes it.

John Crane Completes Acquisition of Seebach GmbH

John Crane, a global leader in rotating equipment solutions, supplying engineered technologies and services to process industries, recently announced that as of June 13, the company finalized its purchase of Seebach GmbH, a German-based provider of highly engineered filtration solutions for use in polymer, oil and gas, mining and other high-end applications.

China's tariffs on U.S. oil would disrupt $1 billion monthly business

SINGAPORE, (Reuters) - China's threat to impose duties on U.S. oil imports will hit a business that has soared in the last two years, and which is now worth almost $1 billion per month.

China and India want to buy more U.S. oil to counter OPEC

Two of Asia’s largest crude buyers are considering teaming up to buy U.S. supplies and counter OPEC’s dominance in the world’s biggest oil market.

Oil play ditched years ago draws EOG, Conoco as Permian fallback

The next frontier for U.S. oil’s resurgence may come on familiar terrain.

Croatia's parliament gives go ahead for EU-backed LNG terminal

ZAGREB, (Reuters) - Croatia passed a law to enable the construction of a liquefied natural gas (LNG) terminal, part of a European Union drive to diversify away from Russian gas imports.

Phillips 66 to expand Texas natural gas liquids project

(Reuters) - U.S. oil refiner Phillips 66 said it planned to spend up to $1.5 billion on the expansion of its natural gas liquids project in Sweeny, Texas.

PDVSA may run foreign oil at largest refinery to meet export contracts

HOUSTON, (Reuters) - Venezuela is considering refining foreign crude for the first time to produce fuels like gasoline or diesel, according to internal planning documents seen by Reuters, in the latest sign of the country's strain to meet obligations to customers despite having the world's largest crude reserves.

Siluria Technologies and Saudi Aramco join forces to maximize chemicals production

San Francisco, California USA - Saudi Aramco Technologies Company, a subsidiary of the world’s largest oil company, and Siluria Technologies, a leader in disruptive process technologies for the petrochemical and energy industries have executed a multi-plant technology license for the integration of Siluria’s proprietary technology (natural gas to olefins) with Saudi Aramco’s high-olefins cracking process technology.

Plains-ExxonMobil JV to Build Permian Pipeline

ExxonMobil and Plains All American Pipeline (PAA) plan to build a new pipeline that will add 1 MMbpd of takeaway capacity for Permian Basin crude oil and condensate.

Hybrid power plans heat up in India

Combining wind and solar power at dual-use plants could ease land acquisition and variability issues—which would impact the country’s renewables market growth