Perenco will acquire mature gas fields from BP
BP Trinidad and Tobago has signed an agreement with Perenco T&T for the divestment of its Immortelle offshore gas field and production facilities. The oil major said this in a Monday statement. It said that the agreement includes undeveloped resources in the Parang field. All fields except Parang have been in operation since 1993, and produce about 30 thousand barrels equivalents of oil per day.
Citgo: Oil Tanker Caught in Dispute Enters International Waters
U.S. refiner Citgo said the Gerd Knutsen oil tanker, which had been carrying crude claimed by both the company and Venezuelan parent PDVSA, departed Venezuela's Jose Terminal on Thursday and entered international waters on Friday morning.The tanker over the past week discharged its 1 million barrel cargo, worth some $57 million, in Venezuela after being stranded for over a year off the South American country's coast amid fallout over U.S.
Eagle LNG Project Clears FERC Hurdle
The U.S. Federal Energy Regulatory Commission (FERC) has issued the order granting authorization for siting and constructing of the proposed on-water Jacksonville liquefied natural gas (LNG) Export Facility, developer Eagle LNG Partners LLC announced.The LNG export facility and terminal, planned in Jacksonville, Florida, will have a production capacity of…
Top Citgo Executives Removed as PDVSA Chaos Continues
Citgo Petroleum Corp has removed at least three top executives close to Venezuelan President Nicolas Maduro, people familiar with the matter said on Monday, in a move to cement management control under a new board of directors.The U.S. refining arm of Venezuelan state-run oil company PDVSA has been thrust in recent weeks into the center of a political battle…
Wartsila Bags Energy Storage Contract from ContourGlobal
Wartsila has won a 6 MW energy storage project contract for the Caribbean island of Bonaire from ContourGlobal Bonaire, a subsidiary of London based ContourGlobal.The engineering, procurement, and construction (EPC) hybrid energy project includes both the hardware, consisting of batteries and inverters, as well as GEMS, the energy management software from Greensmith Energy…
Venezuela's Crude Sales to U.S. Fall in July
Venezuela's crude exports to the United States declined to 494,400 barrels per day (bpd) in July after rising the prior three months, showing the impact of asset seizures against state-run oil firm PDVSA, according to Thomson Reuters data.July was the first month crude exports fell below 500,000 bpd since the months of January through March.U.S. oil producer…
Venezuela Dodges Oil Asset Seizures with Export Transfers at Sea
Venezuela's state-run oil company PDVSA has limited the damage from an unprecedented slump in crude exports by transferring oil between tankers at sea and loading vessels in neighboring Cuba to avoid asset seizures.But the OPEC member nation is still fulfilling less than 60 percent of its obligations under supply deals with customers.Venezuela has been pumping…
Total, Siemens Hope to Sign Cuban LNG Deal Soon
French energy firm Total SA and German industrial giant Siemens AG hope to sign a deal soon with Cuba to build a 600 megawatt gas-fired power plant on the island, according to diplomats and businessmen with knowledge of the talks.The two are leading a consortium that has been in negotiations with Communist-run Cuba since last year when they won a tender for the project…
Aruba Begins Talks with U.S. over Aruba Refinery Pause
The Aruba government said on Thursday it started talks with the United States after Houston-based firm Citgo Petroleum slowed work on an overhaul of the Caribbean island's 235,000-barrel-per-day refinery due to a lack of credit. Sanctions imposed last year by President Donald Trump's administration on Venezuela and its state-run oil company, PDVSA, limit their access to long-term credit…
PDVSA Escapes Bonaire Restrictions - for now
A regulatory agency has decided not to impose restrictions on Venezuelan state-run oil company PDVSA's operations at its terminal on the Dutch Caribbean island of Bonaire after receiving new repair assurances, the Dutch Human Environment and Transport Inspectorate (ILT) said on Wednesday. The Caribbean island in December said PDVSA could lose its license to operate the oil storage facility…
Fuel Imports, Distribution in Puerto Rico Starts to Unclog
Shipments of gasoline and diesel into Puerto Rico have resumed after Hurricane Maria, with ports restarting operations, though there were still long fuel lines around the island on Thursday, according to traders and Thomson Reuters tracking data. Residents lined up for diesel for power generators and to fill cars with gasoline, while at least one tanker discharged at the port of San Juan as oil terminals reopened some facilities.
Exxon CEO: Harvey had Bigger Impact on Mexico Operations
Exxon Mobil Corp Chief Executive Darren Woods told CNBC on Thursday that Hurricane Harvey had a bigger impact on the company's Mexico operations, and said that Irma had not impacted any of the oil major's offshore operations yet. Harvey tore through Corpus Christi in southern Texas on Aug. 25 and then drenched the Houston area with historic rains. Exxon Mobil…
Technip, Venezuelan Firms Tapped to Refurbish Aruba Refinery
A consortium formed by France's Technip and Venezuela's Tecnoconsult and Y&V Group was picked to refurbish Aruba's 225,000-barrel-per day refinery, the Caribbean island's government said on Thursday. The facility will be overhauled in a $700 million project that is expected to take 18 months starting in early 2017. It has been idle since 2012 when it was shut by the previous operator, U.S. Valero Energy.
How the Marshall Islands became a top U.S. Crude Destination
Best known for diving, lagoons and the island that gave the world the name for the bikini swimsuit, the Marshall Islands is now gaining attention as a top-five destination for U.S. crude exports despite the lack of a refinery to process the oil. The shipments to the Marshall Islands, a tiny atoll nation in the middle of the Pacific Ocean, are a quirk of U.S.
Citgo, Aruba to Restart Refinery
Venezuelan PDVSA's unit in the United States, Citgo Petroleum, is working to restart some processing units at the Aruba refinery under a 25-year lease contract with the government of the Caribbean island, sources at the facility and firms involved told Reuters on Saturday. The Aruba refinery's former operator, Valero Energy Corp , has not been involved in the negotiations, but the island has guaranteed the U.S.
Citgo, Aruba Government Postpone Deadline to Restart Idled Refinery
Aruba and Venezuelan PDVSA's refining unit Citgo Petroleum postponed a deadline to reach a final agreement to lease and restart an idled 235,000-barrel-per-day refinery, the government of the Caribbean island said late on Thursday. The parties have, since 2015, been negotiating a 25-year lease that would allow Citgo to operate the refinery after investing in an overhaul. The facility, which was operated by U.S.
Venezuelan Crude Sales to US Declined 7% in March
Exports of Venezuelan crude to the United States fell almost 7 percent in March versus the same month of 2015 to 793,581 barrels per day (bpd), according to Thomson Reuters Trade Flows data, affected by delays at the country's main oil port. Even though the sales recovered versus the previous two months, when they hit record lows, the increase was not enough to reach last year levels.
Venezuelan Crude Sales to US Fell 8% in April
Venezuelan crude sales to the United States declined 8.3 percent in April to 734,700 barrels per day (bpd) compared with the same month of 2015, amid delays at PDVSA's main ports, according to Thomson Reuters trade flows and vessel tracking data. State-run oil firm PDVSA and its joint ventures sent a total of 45 crude cargoes to customers in the United States last month versus 54 cargoes in April of 2015 and 52 in March.
Aruba, Citgo Agree to Reopen Idled Refinery
The Citgo Petroleum refining unit of Venezuela's state oil company Petroleos de Venezuela SA (PDVSA) has reached a deal to lease and restart an idled 235,000-barrel-per-day refinery in Aruba, the government of the Caribbean island said on Friday. The agreement involves a 25-year lease that would allow Citgo to operate the refinery after investing in an overhaul that Aruba said could cost at least $1 billion.
Citgo, Aruba clinch deal to reactive refinery
Venezuela's PDVSA unit in the United States, Citgo Petroleum, and Aruba on Friday signed an agreement to reactivate a 235,000-barrel-per-day refinery on the Caribbean island, an investment designed to help process the South American's oil producer's extra heavy crude. The Aruban government reported last month that the agreement involves a 25-year lease to allow Citgo to operate the refinery…
