IEA: 'Age electricity' will follow the looming peak of fossil fuels
International Energy Agency (IEA) said that the world is at the cusp of a new era of electricity, with the demand for fossil fuels set to peak before the end of this decade. This could lead to an increase in investment in green energy due the surplus of oil and gas, it added. It also highlighted a high degree of uncertainty, as conflict engulfs the Middle East and Russia that produce…
Shell, Nigerian Agree to Reopen Oil Flow Station
International oil major Shell and Nigerian stakeholder communities agreed to reopen the flow station for the Oil Mining Licence 25, the regional Rivers state governor said.Shell also agreed in the memorandum of understanding to pay money owed to the communities, according to the statement. The amount was not specified.Local communities had occupied the flow station and stopped operations for almost two years…
US Oil Sees Growing Reach
Two cargoes of U.S. crude oil have been booked to sail to Australia, trade sources and data companies said, highlighting the increasing global reach of exports from the United States.Aframax tanker Esther Spirit loaded U.S. oil in early April at Enterprise Houston Terminal and is scheduled to discharge at Kwinana in Western Australia on May 20, ship-tracking data from Refinitiv and Vortexa showed.BP Plc chartered the Silver Sun, an Aframax, to load from the U.S.
Caspian is Key for Lukoil
Alexander Oboronkov leapt at the chance to work on the Filanovsky platform after it was launched in 2016, keen to see Russia's largest Caspian Sea oilfield in action.The Filanovsky oilfield, along with the nearby Korchagin and Rakushechnoye fields, are key to the growth plans at Lukoil, Russia's second biggest oil producer, where Oboronkov works as deputy head of the Filanovsky platform.The company…
JIP on Single Phase Flow Meters Enters Phase II
DNV GL is now starting phase II of a Joint Industry Project (JIP) on single phase flow meters in phase-contaminated oil flow. Phase II of this JIP will focus on the influence of the oil fluid properties. This will involve testing different single phase flow metering technologies in oil/water liquid flow (WLR=0-100%) with small fractions of gas (GVF=0-40%, with a focus on the low range).
Iraq's Southern Oil Exports Fall in March
Oil exports from southern Iraq have fallen by 70,000 barrels per day (bpd) this month, according to shipping data and an industry source, suggesting OPEC's second-largest producer is heading for a third month of lower shipments. Southern Iraqi exports in the first 21 days of March averaged about 3.36 million bpd, compared to 3.43 million bpd in February, shipping data followed by Reuters and independent tracking by an industry source showed.
Rosneft, Eni Fail to Discover Oil at Black Sea Well
Russia's state oil company Rosneft and Italy's Eni did not make a commercial oil discovery in the Black Sea as the well they were drilling proved to be dry, a source close to the operations told Reuters on Wednesday. Rosneft chief executive, Igor Sechin, has partnered with a number of foreign companies to develop Russia's offshore regions, though western sanctions have forced some of its partners such as ExxonMobil to suspend projects.
Attack on Cano Limon Pipeline Extends Pumping Halt
A bomb attack by Marxist ELN rebels destroyed a stretch of Colombia's second largest oil pipeline, the Cano Limon-Covenas, extending an almost month-long pumping stoppage, sources from the military and state oil company Ecopetrol said on Tuesday. The attack, which caused a spillage of crude, occurred on Monday in a rural area of the municipality of Saravena, in northeastern Arauca province.
Trump Troubled About Oil Flow into North Korea
U.S. President Donald Trump on Thursday said he was "very disappointed that China is allowing oil to go into North Korea" and that such moves would prevent "a friendly solution" to the crisis over Pyongyang's nuclear program. "Caught RED HANDED - very disappointed that China is allowing oil to go into North Korea. There will never be a friendly solution to the North Korea problem if this continues to happen!" Trump wrote in a post on Twitter.
Protesters Storm Shell's Niger Delta Crude Station
Hundreds of Nigerian protesters stormed a crude oil flow station owned by Shell in the restive Niger Delta on Friday demanding jobs and infrastructure development, a Reuters witness said. The protesters complained they were not benefiting from oil production in their area, a common refrain in the impoverished swampland that produces most of Nigeria's oil. They also demanded an end to oil pollution in the area.
North Dakota Output to Rise as DAPL Opens
North Dakota oil production will get a shot in the arm next month as a pipeline comes online despite opposition by environmental groups and Native Americans, allowing the energy industry to save at least $540 million in annual shipping costs. The Dakota Access Pipeline gives the state's producers cheaper access to refineries and other customers on the U.S. Gulf Coast. Market players…
Judge Denies Latest Bid to Block Dakota Pipeline
A U.S. federal judge denied a request by Native American tribes seeking a halt to construction of the final link in the Dakota Access Pipeline on Monday, the controversial project that has sparked months of protests from tribal activists seeking to halt the 1,170-mile line. Judge James Boasberg of the U.S. District Court in Washington, D.C., at a hearing, rejected the request from the Standing Rock Sioux and Cheyenne River Sioux tribes…
Tribes Urge Judge to Block Dakota Pipeline
Native American tribes seeking a halt to construction of the final link in the Dakota Access Pipeline will argue in federal court on Monday that the project will prevent them from practicing religious ceremonies at a lake they say is surrounded by sacred ground. The U.S. Army Corps of Engineers last week granted a final easement to Energy Transfer Partners LP, the company building the $3.8-billion Dakota Access Pipeline (DAPL)…
Nigerian Oil Workers Union Begins Strike
Strike to last 3 days, involve 3,000 workers; talks planned with labour minister. A Nigerian oil labour union has begun a nationwide strike hitting petrol stations and oil tankers, while oil industry workers have shut down seven crude flow stations in the Niger Delta, a union official said on Wednesday. The strike is in protest over pay and job losses. The Nigeria Union of Petroleum…
Oil Workers Go on Strike at Crude Flow Station in Niger Delta
Nigerian oil workers have gone on strike at the Oleh crude oil flow station in the Niger Delta oil hub, saying they have not been paid, a labour union official said on Tuesday. "The striking workers at Oleh flow station ... besides the struggle for good pay and conditions of service are also asking for their rights to be unionised," said Cogent Ojobo, Warri Zonal Chairman at oil labour union NUPENG. No more details were immediately available.
Shell: Nigerian Escravos Flow Shut by Protesters
Royal Dutch Shell has shut down an Escravos crude oil flow station in Nigeria's Niger Delta after villagers demanding aid staged a protest, the firm and residents said on Wednesday. The oil major said the flow station on the pipeline operated by its joint-venture partner SPDC was no longer processing crude oil, but the impact on Escravos exports, which can run via other avenues, was not immediately clear.
Libya Resumes Oil Exports from Some Major Ports
Libya is resuming oil exports from some of its main ports which forces loyal to eastern commander Khalifa Haftar seized in recent days and has lifted related "force majeuere" contractual clauses, the National Oil Corporation said on Thursday. The north African nation is highly dependent on hydrocarbon revenues and needs oil exports to resume to save its economy from collapse. Conflict…
Sonatrach Says Oil Drilling Results "Very Satisfactory"
Algerian state energy firm Sonatrach on Tuesday reported new successful drilling results with partners Thailand's PTTEP and China's CNOOC at the Hassi Bir Rekaiz project in the Berkine basin. Tests showed a crude oil flow rate of 2,406 barrels per day, Sonatrach said in a statement, describing the result as "very satisfactory". Sonatrach and its partners had found crude oil and gas in 10 wells since the start of the exploration campaign in 2011.
San Leon's Nigerian Onshore Production Deal
San Leon Energy Plc, the AIM listed company focused on oil and gas exploration and production in Europe and Africa, has announced its proposed entry into Nigerian onshore oil and gas production. US$180 million transaction to finance the acquisition of Mart Resources, Inc. and an additional interest in MartWestern Energy Limited, and to restructure the assets and liabilities of these acquisitions with Midwestern Oil and Gas Company Limited.
Oil Flow Through UK's North Sea Forties Pipeline Restricted
The flow of oil through the Forties pipeline in Britain's North Sea is being restricted after an unplanned shutdown at the Kinneil processing plant, a spokeswoman for pipeline operator BP said on Thursday. "Train 1 at Kinneil had an unplanned shutdown on Dec. 1, which is causing some restrictions," the spokeswoman said. A trader said it was a problem with a compressor, which was affecting all the fields that feed into the Forties Pipeline System (FPS).
