Exxon’s Guyana Oil Discovery May Be 12 Times Larger Than Economy
(Bloomberg) — An Exxon Mobil Corp. discovery in the Atlantic Ocean off Guyana may hold oil and natural gas riches 12 times more valuable than the nation’s entire economic output. The Liza-1 well, which probably holds the equivalent of more than 700 million barrels of oil, may begin producing crude by the end of the... Read More
Environmentalists want California to stop offshore hydraulic fracturing
LOS ANGELES (AP) — Environmentalists Tuesday called on Gov. Jerry Brown to halt plans for months of hydraulic fracturing in the waters off Southern California, warning that it could lead to chemical pollution or an oil spill. State regulators this month approved nine permits for operator Thums Long Beach Co. for so-called fracking operations between August and December in... Read More
FMC Technologies awarded $297 million subsea production system contract
June 23, 2015 By PennEnergy Editorial Staff Source: FMC Technologies, Inc. FMC Technologies, Inc. (NYSE: FTI) announced today that it has received an order from BP Exploration (Shah Deniz) Ltd. to supply subsea production systems for Well Clusters 3-5 of the Shah Deniz Stage 2 project in the Caspian Sea. The order has an estimated value of $297 million in revenue and is in... Read More
State approves Shell’s plan for US Appalachian ethylene plant
HOUSTON, June 23 06/23/2015 By Robert Brelsford OGJ Downstream Technology Editor Pennsylvania’s Department of Environmental Protection (DEP) has approved a permit allowing Royal Dutch Shell PLCsubsidiary Shell Chemical LP to proceed with its plan to build a petrochemical complex in Beaver County, Pa., that will produce ethylene and polyethylene (PE) from Marcellus shale ethane (OGJ Online, Nov. 7, 2014). DEP... Read More
IEA: Global oil demand rising on economic recovery, lower oil prices
HOUSTON, June 11 06/11/2015 By OGJ editors According to the International Energy Agency’s most recent Oil Market Report, global oil demand averaged 93.3 million b/d in this year’s first half, up 1.6 million b/d on the year and 400,000 b/d above the estimate in last month’s report. Global demand for the whole year is forecast to average... Read More