Oil and Gas Journal's News & Analysis
Thu, 23 May 2019 15:06:00 GMT
Renewed LPG demand growth in India and China will lead to growth of US exports later this year, according to ESAI Energy’s newly published Global NGL Outlook.
Thu, 23 May 2019 14:47:00 GMT
Oil futures dropped May 22 with light, sweet crude contracts for July and August settling down by more than $1.70/bbl each on the New York market, marking the biggest single-session loss in nearly 3 weeks.
Wed, 22 May 2019 15:57:00 GMT
BHP said its conventional oil assets look to be attractive investments “for several decades,” particularly its holdings offshore Mexico and offshore eastern Canada. During an operations update, BHP executives said the company expects to spud an appraisal well on Trion in late December with earliest production expected in the mid 2020s. BHP is the operator with 60% interest.
Wed, 22 May 2019 15:12:00 GMT
The Origin Energy-operated Australia Pacific LNG group has obtained permission to acquire Origin’s undeveloped Ironbark coal seam gas project in permit ATP 788P in Queensland. The Australian Competition and Consumer Commission said it would not oppose the transaction, first mooted by Origin in February with a sale price of $231 million (Aus.).
Wed, 22 May 2019 14:49:00 GMT
CVR Energy Inc., Sugar Land, Tex., has designated Bank of America Merrill Lynch its financial advisor for a review of strategic alternatives, which might include sale of the company. A subsidiary, CVR Refining LP, operates a 132,000-b/cd refinery at Coffeyville, Kan., and a 74,500-b/cd refinery at Wynnewood, Okla.
Wed, 22 May 2019 14:43:00 GMT
Light, sweet crude oil prices fell slightly May 21 as the contract continues to hover at $63/bbl on the New York market while Brent crude oil prices gained modestly with the July contract settling above $72/bbl.