The American Petroleum Institute published its latest Monthly Statistical Report showing that US crude oil production sustained a record-tying 12.1 million barrels per day (mb/d) in April. Moreover, total petroleum demand was the highest for the month since 2007 at 20.2 million barrels per day.
According to the International Gas Union’s Wholesale Gas Price Survey, dramatic changes have taken place in the natural gas wholesale price formation during a period of major developments in the global gas market. The share of spot LNG imports reached just over 30% of total LNG imports in 2018, amounting to about 126 BCM, which is an increase of 65 BCM since 2016, or 10.5%.
Dräger Marine & Offshore will provide equipment that detects dangerous gases to 23 platforms across the North Sea, as part of three new contracts, that are worth over $1.3 million (£1,000,000). The deals regard the provision of portable gas detection equipment to three operators over five years, including over 1,700 personal gas monitors to warn personnel of possible dangers.
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.
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- Cyber Security
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