Thursday, October 19, 2017

Shell, PetroChina bid for Arrow gets court approval

July 31, 2010 by  
Filed under OGJ

MELBOURNE – Australia’s Federal Court has approved the $3.5 billion (Aus.) acquisition of Brisbane-based coal seam gas producer Arrow Energy Ltd. by Royal Dutch Shell PLC and PetroChina. Arrow shareholders had overwhelmingly supported the all-cash proposal during an extraordinary general meeting on July 14. Each share of Arrow was priced at $4.70 (Aus.). The shareholders […]

ConocoPhillips cancels German refinery upgrade

July 24, 2010 by  
Filed under OGJ

HOUSTON, July 22 — ConocoPhillips reported the cancelation of plans to upgrade its 260,000 b/d refinery at Wilhelmshaven, Germany. In November 2009, ConocoPhillips confirmed plans to delay an upgrade at the facility. The company had planned to add a coker, hydrocracker, and hydrogen units to the refinery (OGJ, Dec. 21, 2009, p. 46). “This move […]

BP’s first relief well ‘perfectly positioned’ from Macondo

July 24, 2010 by  
Filed under OGJ

HOUSTON, July 22 — BP PLC reported a pressure reading of 6,811 psi inside the top of the Macondo well as of July 19, while the first relief well, being drilled by the Development Driller III, has reached a casing point at 17,862 ft total depth. “We’re 4 ft horizontally from the Macondo well at […]

Study outlines economic impact of independents in gulf

July 24, 2010 by  
Filed under OGJ

WASHINGTON, DC, July 23 — Excluding independent producers from the deepwater Gulf of Mexico would eliminate 265,000 jobs and $106 billion in federal, state, and local tax revenue by 2020, a new study by IHS Global Insight in Lexington, Mass., concluded. If independents left the gulf completely, 300,000 jobs and $147 billion in taxes in […]

MARKET WATCH: Surprise stock gains, weakened economy cuts energy prices

July 23, 2010 by  
Filed under OGJ

HOUSTON, July 22 — After climbing for 2 days, crude and petroleum product prices dropped July 21 on the New York market on a surprise report of gains in US crude, gasoline, and distillate fuel inventories. “The slide in prices accelerated after Federal Reserve Chairman Ben Bernanke called the economic outlook ‘unusually uncertain.’ The equity […]

Petrobras orders FPSO power, compressor packages

July 14, 2010 by  
Filed under OGJ

HOUSTON, July 14 — A subsidiary of Petroleo Brasileiro SA (Petrobras), Petrobras Netherlands BV, placed a $160 million order with GE Oil & Gas for power generation and compression packages for the P-58 and P-62 floating production, storage, and offloading vessels planned for installation off Brazil. Petrobras has slated installation of FPSO P-58 for the […]

Orca plans Tanzanian natural gas pipeline expansion

July 14, 2010 by  
Filed under OGJ

HOUSTON – Orca Exploration Group announced July 13 the creation of EastCoast Transmission & Marketing as its new infrastructure division in Tanzania. ECTM will initially focus on expanding the onshore natural gas pipeline system transporting Songo Songo field gas to Dar es Salaam. Expansion would involve twinning the existing 207-km pipeline from Somanga Funga, where […]

Mandates add pressure on Japanese oil refiners

July 14, 2010 by  
Filed under OGJ

HOUSTON, July 14 — New mandates for upgrading capacity might accelerate a restructuring of the Japanese refining industry, says the International Energy Agency. Beset by rapidly falling domestic demand for oil products and growing competition from China and elsewhere in Asia, Japanese refiners are struggling with excess distillation capacity (OGJ, June 21, 2010, p. 54). […]

Chevron makes another gas find off W. Australia

July 14, 2010 by  
Filed under OGJ

MELBOURNE, July 14 — Chevron Australia has encountered 75 m of net natural gas pay in its latest well drilled off Western Australia. The Sappho-1 well was drilled in the WA-392-P permit about 140 km northwest of the coastal town of Onslow and about 50 km west of Gorgon field. The discovery comes shortly after […]

BP prepares to start integrity test on Macondo well in the Gulf of Mexico

July 14, 2010 by  
Filed under OGJ

HOUSTON, July 14 – BP PLC prepared to start shutting in the runaway Macondo well in the Gulf of Mexico for a well integrity test late July 14 following a 24-hr delay in which federal officials, scientists, and industry experts reviewed plans for the testing procedure. National Incident Commander and retired US Coast Guard Adm. […]

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