The US Environmental Protection Agency (EPA) announced that the federal government has settled its final Clean Air Act (CAA) claim against Philadelphia Energy Solutions Refining and Marketing, LLC (PES) pertaining to the 21 June 2019 fire and explosion at its former South Philadelphia refinery. EPA alleged that the company violated... Read more →

TotalEnergies made the Final Investment Decision (FID) for the GranMorgu development located on offshore Block 58 Suriname in northern South America. “GranMorgu” means both “new dawn” and “Goliath grouper” in Sranan Tongo, the local language. The GranMorgu project will develop the Sapakara and Krabdagu oil discoveries, on which a successful... Read more →

Plug Power has secured an order for 25 megawatts (MW) of proton exchange membrane (PEM) electrolyzer systems from bp and Iberdrola’s joint venture, Castellón Green Hydrogen. The project will employ five of Plug’s 5 MW containerized PEM electrolyzers with a 25 MW capacity to decarbonize the operations at bp’s Castellón... Read more →

The US Energy Information Administration (EIA) expects that Brent crude oil prices will return to above $80 per barrel this month, after dipping to $73 per barrel on 6 September. In its September Short-Term Energy Outlook (STEO), EIA forecasts that the Brent crude oil spot price will average $82 per... Read more →

Chevron Corporation started water injection operations at two projects to boost oil and natural gas recovery at the company’s existing Jack/St. Malo and Tahiti facilities in the deepwater US Gulf of Mexico, where Chevron operations produce some of the world’s lowest carbon intensity oil and gas. Delivery of these two... Read more →

The Department of the Interior announced the availability of $775 million for 21 states to clean up legacy pollution. Through the Bipartisan Infrastructure Law, the Department is delivering the largest investment in tackling legacy pollution in American history, including $4.7 billion to plug orphaned wells—of which more than $1 billion has already... Read more →

Chevron Corporation has started oil and natural gas production from the Anchor project in the deepwater US Gulf of Mexico. Anchor production marks the successful delivery of high-pressure technology that is rated to safely operate at up to 20,000 psi, with reservoir depths reaching 34,000 feet below sea level. (Earlier... Read more →

bp has signed a memorandum of understanding (MoU) with the Government of the Republic of Iraq to negotiate a material integrated redevelopment program for the Kirkuk region, spanning oil and gas investment, power generation and solar, together with wider exploration activities. The non-binding MoU was signed in a meeting between... Read more →

bp has taken a final investment decision on the Kaskida project in the US Gulf of Mexico (GOM). Kaskida will be bp’s sixth hub in the Gulf of Mexico, featuring a new floating production platform with the capacity to produce 80,000 barrels of crude oil per day from six wells... Read more →

Natura Resources, LLC (Natura) is partnering with the Texas Produced Water Consortium (TxPWC) at Texas Tech University to look at the deployment of Natura’s liquid-fueled molten salt reactor (LF-MSR) technology to power the Permian Basin. Dubbed “Fortifying the Future,” this partnership provides an opportunity to deploy Natura’s LF-MSR technology to... Read more →

Strathcona Resources announced a strategic partnership with Canada Growth Fund (CGF), a $15-billion arm’s-length public investment vehicle, for the development of carbon capture and sequestration (CCS) infrastructure on Strathcona’s steam-assisted gravity drainage (SAGD) oil sands facilities across Saskatchewan and Alberta. Under the terms of the arrangement, CGF will invest up... Read more →

MOL Group, a leading player in the energy sector in Central and Eastern Europe, has created a “Low Carbon and New Energies” branch within its Exploration and Production division. This new organization is based in Zagreb and marks a step forward in MOL Group’s commitment to deliver low carbon solutions... Read more →

MOGAS Industries has been awarded a multimillion-dollar contract for the South Korean S-Oil Shaheen Project for the first-ever commercialization of TC2C (Thermal Crude to Chemicals) technology. The TC2C technology licensed by Lummus Technology converts whole crude and other refinery orphan streams into high value olefin and aromatic products, and includes... Read more →

The Alberta Energy Regulator (AER) has published the 2024 Alberta Energy Outlook report (formerly ST98), an annual publication featuring independent, comprehensive information on the state of Alberta’s energy industry. The report shows that Alberta remains the largest producer of natural gas and oil in Canada, producing more than 60% of... Read more →

The US Environmental Protection Agency (EPA) and the US Department of Energy (DOE) announced that applications are open for $850 million in federal funding for projects that will help monitor, measure, quantify and reduce methane emissions from the oil and gas sectors. (DE-FOA-0003256) Oil and natural gas facilities are the... Read more →

The US Energy Information Administration (EIA) expects crude oil production in the Permian Basin to average about 6.3 million barrels per day in 2024, an increase of nearly 8% from 2023. The Permian Basin accounts for nearly half of US crude oil production, and EIA expects increased production in the... Read more →

TotalEnergies has announced that it will invest $600 million to strengthen exploration and production activities in the Republic of Congo in 2024. The investment will be used to finance exploration and maintain production in the country’s deep offshore Moho Nord field, which accounts for approximately half of all Congolese oil... Read more →

TotalEnergies (40%), along with its Block 20/11 partners, Petronas (40%) and Sonangol (20%), announced the Final Investment Decision (FID) of the $6-billion Kaminho project to develop the Cameia and Golfinho fields, located 100 km off the coast of Angola, in 1,700 m water-depth. This FID has been made possible thanks... Read more →

The US Department of the Interior is awarding $35.2 million to continue reclaiming and restoring orphaned oil and gas wells in California. With this new funding, the state of California expects to plug and remediate 206 high-risk orphaned oil and gas wells and decommission 47 attendant production facilities with approximately... Read more →

US West Coast refiners are using more hydrogen purchased from merchant suppliers than from their own production, according to the US Energy Information Administration (EIA). From 2012 to 2022, hydrogen purchased by refiners in the region increased 29% to about 550 million cubic feet per day (MMcf/d). Over the same... Read more →

Recent analysis by Wood Mackenzie finds that, based on forecasted 2030 net cash margins, 121 out of 465 screened refineries are at some risk of closure. This represents a cumulative 20.2 million b/d of refining capacity, or 21.6% of global 2023 capacity. The future viability of refinery facilities will be... Read more →

Since early January 2024, US refinery utilization has decreased 11%, falling as low as 81% during the two weeks ending 9 February and 16 February, and briefly dropped below the five-year (2019–23) low. Although US retail average prices for gasoline and diesel are below 2023 prices for this time of... Read more →

Crude oil processing, or refinery runs, in China averaged 14.8 million barrels per day (b/d) in 2023, an all-time high, according to the US Energy Information Administration (EIA). The record processing came as the economy and refinery capacity grew in China following the country’s COVID-19 pandemic responses in 2022. China... Read more →

Aramco announced that it has received a directive from the Saudi Ministry of Energy to maintain Maximum Sustainable Capacity (MSC) at 12 million barrels per day (MMBD), and not to continue increasing MSC to 13 MMBD. This is a reversal from April 2020, when the Ministry of Energy directed Aramco... Read more →

Crude oil production in the United States reached a record high in August 2023, led primarily by more production in Texas, according to data from the US Energy Information Administration (EIA). In 2023, most of the crude oil produced in Texas was relatively dense for the state. Data source: U.S.... Read more →

Dangote Petroleum Refinery in Nigeria (earlier post) has begun production of diesel and aviation fuel. The refinery can load 2,900 trucks a day at its truck-loading gantries. Gas flare stack at the refinery. The products from the refinery will conform to Euro V specifications. The refinery design complies with the... Read more →

Equinor and its operating co-owner, Shell Offshore Inc., a subsidiary of Shell plc, reached the final investment decision for the Sparta development in the US Gulf of Mexico. Owned by Shell Offshore Inc. (51% operator) and Equinor Gulf of Mexico LLC (49%), Sparta is expected to reach a peak production... Read more →

ConocoPhillips will move forward with development of the Willow project in Alaska. This Final Investment Decision approves the project and funds construction needed to reach first oil. The decision follows the Department of the Interior March 2023 Record of Decision and recent positive court orders, including this week’s Ninth Circuit... Read more →

Independent oil and gas company Harbour Energy reached an agreement with BASF and LetterOne, the shareholders of Wintershall Dea AG, for the acquisition of substantially all of Wintershall Dea’s upstream assets for $11.2 billion. The target portfolio includes all of Wintershall Dea’s upstream assets in Norway, Germany, Denmark, Argentina, Mexico,... Read more →

The United States heads into the New Year producing more oil than any country in history, leading strong non-OPEC+ supply growth that will more than meet growing global demand, according to the latest oil markets outlook by S&P Global Commodity Insights. US total liquids production for Q4 2023 stands at... Read more →

In its Short-Term Energy Outlook, the US Energy Information Administration (EIA) forecasts the lowest annual petroleum consumption in Japan in 2024 since at least 1980, in part due to the country’s aging and declining population. Japan’s reduced consumption is already affecting its refining industry. Japanese refiner ENEOS permanently closed a... Read more →

The United States and Canada are on track to reach a new high in oil and gas production in 2023 and extend North America’s lead as the top oil and gas producing region in the world, according to a new report, “The North American advantage: Secure oil and gas production”,... Read more →

Nigeria’s Dangote Petroleum Refinery and Petrochemicals plant (earlier post) has purchased 1 million barrels of Agbami crude grade from Shell International Trading and Shipping Company Limited (STASCO), one of the largest trading companies in Nigeria as well as globally, trading more than 8 million barrels of crude oil per day.... Read more →

The US Energy Information Administration (EIA) regularly publishes international energy information, including overviews, rankings, data and analyses of various countries and regions. EIA has now released a briefing on emerging hydrocarbon (oil and natural gas) producers in Africa. The EIA briefing focuses on Namibia, Kenya, Uganda, Mauritania, Senegal, and Mozambique—countries... Read more →

The US Energy Information Administration (EIA) expects global liquid fuels production to increase by 1.0 million barrels per day next year. EIA expects OPEC+ production cuts will remain in place through the end of 2024 and offset non-OPEC production growth. EIA expects a slight decline in global oil inventories in... Read more →

The greenhouse gas intensity of western Canadian condensate—which averaged 35 kilograms of carbon dioxide equivalent per barrel (kgCO2e/bbl) in 2021—is expected to decline in the coming years as domestic supply from unconventional production in western Canada, as well as recycling, increases, according to a new analysis by S&P Global Commodity... Read more →

Chevron Corporation entered into a definitive agreement with Hess Corporation to acquire all of the outstanding shares of Hess in an all-stock transaction valued at $53 billion, or $171 per share based on Chevron’s closing price on 20 October 2023. Under the terms of the agreement, Hess shareholders will receive... Read more →

Sonangol and China National Chemical Engineering Company (CNCEC) signed a contract for the construction of the Lobito Refinery in Angola. The final agreement, which provides for construction, technical support and supervision, follows the Memorandum of Understanding between the two parties, signed four months ago in Beijing. The refinery is to... Read more →

Exxon Mobil and Pioneer Natural Resources announced a definitive agreement for ExxonMobil to acquire Pioneer. The merger is an all-stock transaction valued at $59.5 billion, or $253 per share, based on ExxonMobil’s closing price on 5 October 2023. Under the terms of the agreement, Pioneer shareholders will receive 2.3234 shares... Read more →

Crude oil production cuts among OPEC+ members are limiting the global supply of medium, sour and heavy, sour grades of crude oil. These cuts are increasing prices for these grades compared with sweet crude oils, reversing typical price relationships, according to the US Energy Information Administration (EIA). Crude oil is... Read more →

CNOOC (China National Offshore Oil Corp.) announced that Lufeng 12-3 Oilfield Development Project has begun production. The project is located in the eastern South China Sea, with an average water depth of approximately 240 meters. Lufeng 12-3 Oilfield is the largest jointly-developed oilfield in the South China Sea in the... Read more →

Record volumes of crude oil were imported into China during the first half of 2023 because of refinery expansions in the country and initiatives to reopen the economy after the government eased COVID-19 mobility restrictions. China imported an average of 11.4 million barrels of crude oil per day (b/d) in... Read more →

In the Arctic National Wildlife Refuge (Arctic Refuge), US Secretary of the Interior Deb Haaland has authorized the cancellation of the remaining seven oil and gas leases issued by the previous administration in the Coastal Plain. The leases were suspended in June 2021 following the issuance of Secretary’s Order (S.O.)... Read more →

To reduce the number of accidents in the global oil and gas industry caused by damaged pipelines, University of Houston researchers are developing an autonomous robot to identify potential pipeline leaks and structural failures during subsea inspections. The transformative technology will make the inspection process far safer and more cost... Read more →

Permian Resources Corporation and Earthstone Energy entered into a definitive agreement under which Permian Resources will acquire Earthstone in an all-stock transaction valued at approximately $4.5 billion, inclusive of Earthstone’s net debt. The transaction increases Permian Resources’ position in the Permian Basin by approximately 223,000 net acres to more than... Read more →

Occidental announced that a wholly owned subsidiary—1PointFive—has entered into a definitive purchase agreement to acquire all the outstanding equity of Carbon Engineering Ltd. (CE) for total cash consideration of approximately $1.1 billion, to be made in three approximately equivalent annual payments, with the first at closing. This transaction is expected... Read more →

Researchers in India are using multi-wall carbon nanotube-optimized surfactant-polymer flooding for enhanced oil recovery. In an open-access paper in the journal Fuel, they report that their experimental application of carbon nanotube-based fluids yielded an oil recovery factor of approximately 70% of the original oil in place. Pandey et al. Primary... Read more →

The US Energy Information Administration (EIA) expects US crude oil production to surpass 12.9 million barrels per day for the first time in late 2023 and to exceed 13 million barrels per day in early 2024. In its August Short-Term Energy Outlook (STEO), EIA forecasts US crude oil production to... Read more →

Since the EU imposed sanctions on Russia in the wake of the invasion of Ukraine, there has been a redrawing of the global oil map, a new study by Transport & Environment (T&E) shows. Instead of cutting demand, Europe has simply replaced imports from Russia with oil from other producing... Read more →

Steven Guilbeault, Canada’s Minister of Environment and Climate Change, released the Inefficient Fossil Fuel Subsidies Government of Canada Self‑Review Assessment Framework and the Inefficient Fossil Fuel Subsidies Government of Canada Guidelines, which were jointly developed by Environment and Climate Change Canada and the Department of Finance Canada. The Government of... Read more →