New Offshore Acreage Licensing to Drop 60% in 2020, Rystad says
Newly licensed offshore oil and gas exploration acreage is likely to fall by about 60% and onshore acreage by 30% compared with 2019 levels, Rystad Energy has said, as the Norwegian energy market analytics company expects more than half of the world’s…
Dominican Republic Kicks Off Licensing Round
The Dominican Republic's first oil licensing round will be a success if it awards more than two of the 14 blocks on offer this year, a government official said at an event disclosing the Caribbean nation's fiscal terms.The licensing round, which began on Wednesday with disclosure of contract terms…
Panama Imports Its First LNG Cargo
Panama has imported its first liquefied natural gas (LNG) cargo to commission the newly built $1 billion Costa Norte facility and power plant at Colon, expected to be a launch-pad for LNG trade across Central America.Many utilities in Central America…
Oil Steady as Irma Heads for Florida
Hurricane Harvey shut 8 pct of U.S. oil production; even bigger Hurricane Irma heads for Florida. Oil prices steadied on Friday after almost a week of sharp rises as Hurricane Irma, one of the most powerful storms in a century, drove towards Florida after tearing through the Caribbean.
Irma forces Bahamas Borco Terminal to Close
Buckeye Partners LP's Bahamas terminal, also known as Borco, has been closed for vessel traffic and will shut all operations by the end of the day due to Hurricane Irma, a source familiar with operations said on Thursday. That terminal, located in Freeport…
Oil Up in Harvey's Wake, and Ahead of Irma's Impact
Harvey knocked out many U.S. Gulf refiners 10 days ago and about 250,000 bpd of refining capacity in new storm's path. Oil prices rose on Wednesday as strong global refining margins and the reopening of U.S. Gulf Coast refineries provided a more bullish outlook after sharp drops due to Storm Harvey.
ENGIE, AES to Expand LNG Partnership to Central America
ENGIE and The AES Corporation have agreed to enter into a joint venture to market and sell liquefied natural gas (LNG) to third parties in Central America. The joint venture will utilize the Costa Norte LNG terminal currently under construction in Colón…
US Refiners Dominate Western Hemisphere Markets
The United States is fast becoming the major refining hub for the entire western hemisphere as plentiful crude at home and superior efficiency enable U.S. refiners to grab market share across the region. U.S. refiners now supply almost a quarter of the rest of the hemisphere's daily fuel demand…
CNPC Gets Two Venezuelan Jet Fuel Cargos in July
China Oil Corp, a unit of state-run CNPC, in July received two 240,000-barrel cargos of jet fuel from Petroleos de Venezuela, and the shipments were sent to the United States, according to an internal PDVSA document seen by Reuters on Monday. China…
China's Goldwind Wins Contract for Panama Wind Farm
Chinese wind turbine maker Xinjiang Goldwind Science and Technology Co Ltd won a $427 million contract to supply a wind farm in Panama, its largest international order, the company said on Friday. The deal is for the second stage of a project at…
Stabil Drill Names Alvarez Sales Manager
Stabil Drill, a subsidiary of Superior Energy Services, has named A. Mauricio Alvarez as Latin America sales manager, announced Marty LeBlanc, Stabil Drill’s chief financial officer. Based in Houston, Alvarez will identify new clients in the Latin…
Today in U.S. Naval history: August 29
Today in U.S. 1861 - U.S. squadron captures forts at Hatteras Inlet, N.C. 1915 - Navy salvage divers raise F-4, first U.S. 1916 - Congress passes act for expansion of Navy but most ships not completed until after World War I. 1964 - USS Boxer and…
