Industry News

Strong LNG demand, led by Asia, may be able to absorb new supply

SINGAPORE, (Reuters) - Last year's strong demand for liquefied natural gas (LNG), led by Asia's major economies, is expected to continue this year and should absorb some of the new supply coming onstream, industry executives said at a conference.

Australia's Ichthys project to import LNG cargo to cool plant ahead of start-up

SINGAPORE/TOKYO, (Reuters) - Japan's Inpex Corp and its partners have bought a cargo of liquefied natural gas (LNG) to cool their Ichthys LNG plant in Australia ahead of a potential start-up of the much delayed facility, a company spokesman said.

Libya pipeline attack cuts oil output amid fragile recovery

CAIRO (Bloomberg) -- An attack on an oil pipeline supplying Libya’s biggest export terminal has reduced the North African country’s production by at least 80,000 bpd and would take several days to repair, the National Oil Corp. said Sunday.

Saudi Aramco to lift oil-trading volume to 6 MMbpd

DUBAI (Bloomberg) -- Saudi Aramco, the world’s biggest oil exporter, plans to trade as much as 6 MMbpd, a jump in volume that would put it in the top tier of companies that buy and sell crude and refined products.

Egypt aims for $10B foreign investment in oil, gas in 2018/19

CAIRO, (Reuters) - Egypt aims for foreign investment in the oil and gas sector to reach about $10 billion in the 2018/19 fiscal year that begins in July, Petroleum Minister Tarek El Molla said.

Iraq extends bid deadline for construction of Mosul oil refinery

BAGHDAD, (Reuters) - Iraq has extended the deadline for foreign companies and investors to bid for the construction and operation of a new 100 Mbpd refinery near Mosul in the northern province of Nineveh, the oil ministry said on Sunday.

Uzbekistan to join TAPI Gas Pipeline Project

TASHKENT (Reuters) - Uzbekistan plans to join an $8 billion project to build a natural gas pipeline from Turkmenistan to India, Uzbek President Shavkat Mirziyoyev said on Monday, although it was unclear whether Tashkent might eventually ship gas through it.

Japan policy shift to allow use of U.S. ethanol applauded

WASHINGTON- The U.S. Grains Council (USGC), the Renewable Fuels Association (RFA), Growth Energy and their member organizations welcome the news that the Japanese government’s new biofuel policy will allow imports of ETBE made from U.S. corn-based ethanol.

Russia's Lukoil starts up Uzbekistan gas plant for Chinese exports

BUKHARA, Uzbekistan, (Reuters) - Russia's No. 2 oil producer Lukoil has started operations at a $3.4 billion gas processing plant at its Kandym gasfield in Uzbekistan, which is seen as central to its efforts to boost gas production and exports to China.

Workers Admit Taking Bribes to Lower Water, Sewer Bills

NEW BRUNSWICK, N.J. (AP) — Two municipal water department workers have admitted taking bribes in return for reducing the water and sewer bills of numerous customers.

Cyprus: long wait for celebration

A string of recent developments in the East Mediterranean offshore have raised the possibility of a gas find off Cyprus made in December 2011 finally being developed. The Aphrodite field in Block 12, located 100 miles (160 km) south of the island, contains 5 trillion cubic feet of natural gas.

Feud Erupts Between Utility, States over Colorado River

DENVER (AP) — Tension over the drought-stressed Colorado River escalated into a public feud when four U.S. states accused Arizona’s largest water provider of manipulating supply and demand, potentially threatening millions of people in the United States and Mexico who rely on the river.

Trial Begins in 2015 Oil Pipeline Spill

LOS ANGELES (AP) — A Texas company that owns an oil pipeline that spilled 140,000 gallons of crude along the California coast faces a criminal trial three years after the incident.

India jet fuel demand to soar as domestic air travel takes off

(Reuters) - An Indian push to connect more cities via airports as an expanding middle class increasingly takes to the skies is set to help propel the country’s demand for jet fuel to record highs this year.

Canyon Midstream commences operations at gas processing facility in Oklahoma's STACK play

HOUSTON, /PRNewswire/ -- Canyon Midstream Partners II, LLC announced that it has commenced operations at its newly constructed natural gas processing facility in Woodward County, Oklahoma (the "Redcliff Plant").

Elections a new rupture point in Venezuela crisis

On 20 May 2018, Venezuelans will go to the polls to elect one president, 233 state legislators, and 2,436 municipal councilors. Given Venezuela's long presidentialist tradition, in which the executive holds the reins of power, all eyes will be on President Nicolás Maduro's bid for reelection. Venezuela's president will run against the former governor from the state of Lara, Henri Falcón, the only other viable candidate standing after the opposition bloc decided not to enter what they call a "fraudulent and illegitimate" presidential election.