Turkey to Drill Near Cyprus for Three Months
Turkey launched a second drilling ship on Thursday which will conduct natural gas operations off the northeast coast of Cyprus for three months, a move which risks aggravating a conflict with Cyprus over jurisdiction rights for oil and gas exploration.Turkey and the internationally recognised Cypriot government have overlapping claims in that part of the Mediterranean, an area thought to be rich in natural gas.Energy Minister Fatih Donmez said at the launch of the vessel…
Piedmont Awards EPC Gig to Matrix
Oklahoma-based Matrix Service Company has secured an engineering, procurement and construction (EPC) contract for the Piedmont Natural Gas LNG facility in North Carolina.The contract was awarded to Matrix’s subsidiary, Matrix Service Inc, to build its liquefied natural gas (LNG) facility in Robeson County, North Carolina.The facility will help Piedmont Natural Gas continue providing customers with a reliable supply of natural gas during peak usage days…
What Glencore-Tohoku Coal talk Impass Means for Market
Electric utilities in Japan and other Asian countries are driving blind when it comes to coal prices after the failure of Japan's Tohoku Electric and Glencore to agree on an annual thermal coal contract that is used to set prices for the region. Tohoku Electric, a major Japanese utility, and Glencore, the world's biggest exporter of seaborne thermal coal, abandoned the talks last month on their annual Australian supply contract.
BSEE: Report on Subsea Bolting Technology Released
In an effort to address a recurring problem with faulty connectors in critical safety equipment, the Bureau of Safety and Environmental Enforcement (BSEE) commissioned a National Academy of Engineering study on the matter in September 2016. After 18 months of study, the report entitled “High-Performance Bolting Technology for Offshore Oil and Natural Gas Operations” was published Friday. BSEE sponsored this study…
Petronas' Canadian Unit to Look at other LNG Opportunities
Progress Energy, a wholly-owned unit of Malaysia's Petronas, will look at other liquefied natural gas opportunities as a way to monetize its Canadian gas assets after Petronas scrapped a $29 billion LNG project this year, a company executive said on Wednesday. Petronas, the Malaysian state-owned energy company, abandoned plans to build the Pacific Northwest LNG plant in northern British Columbia in July due to weak prices…
Trump Seeks US Energy Companies' Input on Paris Climate Pact
President Donald Trump's administration has been contacting U.S. energy companies to ask them about their views on the U.N. global climate accord, according to two sources with knowledge of the effort, a sign Trump is reconsidering his 2016 campaign pledge to back out of the deal. The sources, who asked not to be named because they are not authorized to speak publicly on the subject, said many of the companies reached by the administration had said they would prefer the United States remain in the pact…
ConocoPhillips Trims 2017 Budget
ConocoPhillips, the largest U.S. independent oil producer, said on Thursday it would reduce its capital budget by 4 percent to $5 billion next year due to technology gains, cost cuts and other improvements. The cut reflects not only the energy industry's increasing push for efficiency gains that reduce the cost of drawing oil and natural gas from the earth but also low commodity prices, which have hampered Conoco and peers over the past two years.
NOIA Applauds Passage of House Interior Appropriations Bill
“NOIA applauds members of the House of Representatives for passing the first Interior and Environment Appropriations bill since 2009. Not only does the passage of the bill bring back regular order, the Fiscal Year 2017 Interior and Environment Appropriations bill includes smart policy provisions to limit the harmful impact of many short-sighted regulations targeting offshore oil and natural gas exploration and development…
Power Producer Dominion to buy Questar for $4.4 bln
Power producer Dominion Resources Inc said it would buy natural gas distributor Questar Corp for about $4.4 billion in cash to expand its natural gas operations. Dominion's $25-per-share offer represents a premium of nearly 23 percent to Questar's Friday close. Weakening power demand due to increased energy efficiency has spurred a spate of deals between utilities and natural gas distributors, which enjoy relatively stable pricing thanks to a glut of supply from shale fields. Duke Energy Corp, the largest U.S.
Duke Energy to Buy Piedmont
Duke to pay $4.9 bln, assume $1.8 bln debt; offer worth $60/Piedmont share, a 42 pct premium. Duke Energy Corp, the largest U.S. power company by generation capacity, said on Monday it would buy Piedmont Natural Gas Co for $4.9 billion in cash, helping expand its natural gas distribution business. Duke offered $60 in cash for each Piedmont share, representing a premium of about 42 percent premium to the stock's Friday close.
Cenovus Resumes Operations at Foster Creek
Cenovus Energy Inc said it had resumed normal operations at its Foster Creek oil sands site in Alberta after a forest fire led to a precautionary shutdown on May 23. Canada's No. 2 independent oil producer had evacuated about 1,800 workers and shut down production at the site, which it operates as part of a joint venture with ConocoPhillips. The project averages production of about 135,000 barrels per day. Cenovus said it expects production in the second quarter to be reduced by 10…
Howard Thill Joins Devon to Succeed White
Howard Thill has joined Devon Energy Corporation as senior vice president, communications and investor relations.He has joined the company to fill the position created by the retirement of Vince White, senior vice president, communications and investor relations. The company announced yesterday the retirement of Vince White who is scheduled to retire August 8, 2014. “Howard brings to Devon deep knowledge borne of extensive and varied experience in our industry…
