Norwest begins drilling last Lockyer Deep-1 well
Norwest Energy has reported that the immediate section to 3097m at the Lockyer Deep-1 well was cased and cemented for the Western Australian project.Drilling beyond the casing show commenced on Saturday, with the well set to be directionally steered t…
Oil has only done this twice in the past 20 years — and it could forecast a 50% rally
Oil prices could be setting up for a major rally, one strategist says.Though the energy sector has cooled off in recent months, U.S. West Texas Intermediate crude’s price chart just flashed a rare signal, Miller Tabak’s Matt Maley told CNBC’s “Tra…
Interior maps path to oil and gas lease sales, with first steps to come in days
The Interior Department has told a court that the Bureau of Land Management (BLM) will post lists of “scoping” parcels by Aug. 31 for consideration in oil and gas lease sales this year.
Russia is pumping a lot less natural gas to Europe all of a sudden — and it is not clear why
LONDON — Russia has slowed the delivery of piped natural gas to Europe in recent weeks, according to analysis from ICIS, a commodity intelligence service, raising questions about the potential causes behind the drop and its implications for global ga…
Oil jumps as much as 6%, snapping longest losing streak since 2019
Oil prices jumped Monday, snapping a seven-day losing streak that was crude’s worst since 2019, as the dollar pulled back and traders bet the recent selling was overdone.“News of zero new cases in China has certainly provided a tailwind as it gives …
Crude falls on surging Covid cases, following worst week since October for oil
Oil prices slid Monday, building on last week’s steep losses, as rising Covid cases prompted fears of a demand slowdown.West Texas Intermediate crude futures declined more than 4% at one point to trade as low as $65.15, a level not seen since May. Th…
Oil falls for a sixth straight day, sinks to the lowest level since May on fears of slowing growth
Oil dropped for a sixth-straight session on Thursday, falling to the lowest level since May as demand fears and comments from the Federal Reserve that it will suspend its bond-buying program sent prices tumbling.Crude came under pressure amid weakness…
Mothballed Wyoming refinery slated for new life as renewables plant
Slate Refining LLC has entered an agreement with Starwood Energy Group Global Inc. to convert a 3,800-b/d mothballed refinery in Douglas, Wyo., in the heart of the Powder River basin, into a renewable fuels production plant.
Bapco lets contract for Sitra refinery modernization, expansion program
Bahrain Petroleum Co. has let a long-term contract to Advanced Refining Technologies LLC to deliver a series of services for a grassroots residue hydrocracking unit to be built as part of the operator’s Bapco Modernization Program now under way.
MasoSine Certa pumps match consumer appetite for superfoods
As anyone who has been tracking the shopping habits of millennials will reveal, avocados are now among the most popular superfoods.
Phillips 66 advances California refinery-to-renewables conversion project
Phillips 66 has started the first leg of renewable diesel production under its ongoing Rodeo Renewed project to convert the 120,000-b/d portion of its San Francisco refining complex in Rodeo, Calif. into a renewable fuels refinery.
Why Russian Oil Giant Lukoil Won’t Give Up On This Huge Oilfield
There was always something that did not look quite right about Lukoil’s recent announcement that it was going to withdraw from Iraq’s huge West Qurna 2 oil field, located 65 kilometers northwest of the southern port of Basra and with roughly 14 bill…
Indian Oil lets contract for new units at Barauni refinery
Indian Oil Corp. let an additional contract to McDermott International to provide EPCC services for new units to be added as part of IOC’s project to increase crude oil processing capacity at its Barauni refinery in Begusarai District, Bihar.
Kazanorgsintez lets contract for Kazan petrochemical complex
PJSC Kazanorgsintez has let a contract to Maire Tecnimont SPA to deliver engineering and procurement for a new polyolefins production unit to be installed at the operator’s existing petrochemical complex in Kazan, Tatarstan, Russia.
Sibur’s ZapSibneftekhim upgrading unit at Tobolsk petrochemical complex
ZapSibNeftekhim has let a contract to Honeywell UOP for the modernization of a PDH unit to increase propylene feedstock for expanded production of polypropylene at its base polymers petrochemical complex in Western Siberia’s Tyumen region.
Whistler pipeline placed in service
Whistler Pipeline LLC started full commercial service on the Whistler natural gas pipeline on July 1, providing some 2.0 bcfd of incremental natural gas transport capacity to the Texas Gulf Coast markets from the Permian basin.