Six petrochemical storage tanks caught fire at the International Terminal Co. storage farm at Houston’s sprawling Deer Park refining complex, on March 17. The fire spread quickly, and managed to affect a total of seven filled. These tanks include gasoline, xylene, naphtha and lubricant base oil. All employees are accounted for, and no injuries have been reported.
Eni, Italian oil company, has made a new gas discovery under evaluation in the Nour exploration prospect located in the Nour North Sinai Concession, in the Eastern Egyptian Mediterranean, about 50 km North of the Sinai peninsula.
Rystad Energy expects Oman’s gas production levels to exceed oil by 2023, due to an impressive increase in the development of gas fields in the sultanate. Namely, Oman’s oil-gas production mix will shift from around 35% gas in 2015 to more than 50% in 2025. Rystad Energy also estimates that by 2025 oil production will decrease by 200,000 bpd more, as output from older fields continues to fall.
The Port Kembla Gas project in Australia entered its most advanced phase. Namely, the specific site within Port Kembla has been selected, front end engineering and design has been completed, the FSRU vessel has been secured, the Environmental Impact Statement has been submitted and reviewed, and a number of key commercial contracts are nearing finalization.
IEA published its gas outlook concerning global markets, business models and pricing arrangements. Although the World Energy Outlook doesn’t have a forecast for what gas markets will look like in 2030 or 2040, the scenarios and analysis provide some insight into the factors that will shape where things go from here.
US exports of ethane have increased from nearly nothing in 2013 to an average of 260,000 barrels per day through the first 10 months of 2018, accounting for about one-sixth of US hydrocarbon gas liquids exports. The US became the world’s top exporter of ethane in 2015, surpassing Norway. US production of ethane increased along with development of US natural gas shale resources.
After a rough few years, the exploration sector is back in the black, Wood Mackenzie says. Namely, explorers’ success in 2018 shows a disciplined approach that will continue throughout 2019. As Dr. Andrew Latham, vice president, Global exploration, mentions, the sector will experience a long-overdue recovery. Nevertheless, the exploration sector will continue to be an exclusive club in 2019.
The US Energy Information Administration released its Annual Energy Outlook 2019, including a Reference case and six side cases, examining the robustness of key assumptions. The AEO2019 Reference case expects significant continued development of US shale and tight oil and natural gas resources, along with continued growth in use of renewable resources.
According to EIA’s report, global oil refining capacity is expected to increase rapidly, resulting to a product boost from diesel, to gasoline, to marine fuel. The capacity will grow by 2.6 million barrels per day and the demand for the refined products will be approximately on 1.1 million barrels per day.
Germany’s gas imports decreased by 9% in November 2018 in comparison to the same month in 2017, according to Reuters. Yet, imports during the first 11 months, from January to November, experienced an increase of 9% than the same period , a year earlier.
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