Oil & Gas Journal
@OGJOnline
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#MemoryMonday
: Today in 2008, NYMEX
#oilprice
for August surged to record $147.27/bbl before settling at $145.08/bbl
2
47
50
Remembering
#DeepwaterHorizon
and the 11 people who lost their lives 6 years ago yesterday
#TBT
3
61
51
#TBT
to June 15, 1954, when "Mr. Charlie"—the first movable, submersible drilling rig—launched off Morgan City, La.
1
52
43
Oh, hey, we were officially "Twitter verified" over the weekend! After 114 yrs, we've finally arrived. Thanks to all of our 150K followers!
6
7
42
.
@ExxonMobil
finds more
#oil
with Payara-2 well off
#Guyana
, boosts Payara discovery to 500 million boe
2
33
38
Crude oil-to-chemicals (COTC), a new chemical process technology, could more than double the profitability derived from a barrel of crude oil, according to
@IHSMarkit
2
22
36
#Venezuela
’s oil industry has been in a tailspin in recent years, with the country’s oil production falling to just 1.34 million b/d at yearend 2018 from 2.4 million b/d in 2015. This freefall is poised to carry over into 2019, says
@RystadEnergy
2
56
39
1
20
35
#CrudeOil
products will continue to dominate global energy demand for transportation through 2040 despite surprisingly strong growth in electric vehicle sales, BP PLC said in its 2018 Energy Outlook
2
46
33
Australia becomes largest
#LNG
exporter on an annualized basis with an estimated 77.514 million tonnes shipped from the country’s 10 LNG projects in 2019.
6
26
29
#TBT
to this week in 1928 when Dr. Seuss kicked off his illustrious career by creating peculiar new characters for Standard Oil ads
1
18
27
#Brent
#crude
prices fell in early August and are now climbing back to $80/bbl. According to
@IEA
, two reasons for the swing are that
#Venezuela
’s production decline continues and the market is approaching Nov. 4, when US sanctions against
#Iran
start.
0
22
28
#WaybackWednesday
to this day in 1960 when
#OPEC
was founded by Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela
0
52
28
Cold weather, possibility of more economic-stimulus measures in Europe boost
#oilprices
above $30/bbl
1
11
24
2
47
24
.
@88EnergyLtd
confirmed discovery of light oil on North Slope
#Alaska
. Evaluation demonstrated multiple stacked sequences in Cretaceous-age Nanushuk formation. A new target also returned a strong
#hydrocarbon
signature
#oilandgasindustry
#OGJ
3
9
27
#MerryChristmas
to all our followers who celebrate the holiday! We hope you're keeping warm by the
#ChristmasTree
2
24
24
0
21
24
#FactFriday
via
@BP_plc
's Statistical Review for 2016 illustrates the dramatic swings in Brent
#oilprices
since 1985
0
22
24
#FunFactFriday
via
@BP_Alaska
: The 800-mile Trans Alaska Pipeline System is regularly cleaned by mechanical "pigs."
http://t.co/9t7XJzuUdc
2
40
24
Russian crude exports will reach a multiyear high of 5.7 million b/d in April, 400,000 b/d higher than average exports in the previous 5 months, according to a market alert released by
@ESAIEnergy
3
11
19
.
@exxonmobil
started production at Payara, Guyana’s third
#offshore
#oil
development on
#Stabroek
block, bringing total production capacity in
#Guyana
to about 620,000 b/d. Read more here ➡️
#exxonmobil
#XOM
#OGJ
#oilandgas
#oilgasindustry
#hess
0
6
25
US
#oilandgas
industry supported 10.3 million jobs in 2015,
@API_News
-commissioned study indicates
0
29
23
OGJ's
#FourthOfJuly
issue features our Midyear Forecast:
#OilMarket
balancing to stay course
0
11
23
1
30
22
The US will position itself as a net energy exporter in 2020 and will remain so to 2050 resulting from increases in production of
#crudeoil
,
#NaturalGas
, and NGPL, according to
@EIAgov
Annual Energy Outlook 2019
1
16
22
.
@Shell
starts
#oil
production from Gumusut-Kakap off
#Malaysia
, output to reach 135,000 b/d
http://t.co/OIrxiKlw9O
http://t.co/8278LqmxPR
1
47
22
2
56
22
#MerryChristmas
to all our followers who observe the holiday! We hope you're staying warm next to a
#ChristmasTree
.
http://t.co/kyIBuHUN1b
0
19
22
BP Energy Outlook projects global
#energy
demand to jump 37% by 2035
http://t.co/JqU4nYyWnN
@BP_plc
http://t.co/6CaS1cglDW
4
44
21
Schlumberger, the world's largest
#oilfield
services company, is to cut 21,000
#jobs
, 1/4 of the 105,000 people it employed at end-2019, as the
#COVID19
pandemic quashes
#oildemand
#oilandgas
1
10
19
Our thoughts are with those of us in Houston, the world's oil and gas capital, as we deal with Harvey's devastation. Stay
#HoustonStrong
.
0
13
19
.
@Total
and
@AdnocGroup
will launch an unconventional
#gas
exploration program in the Diyab play that covers more than 6,000 sq km west of the ADNOC Onshore concession in
#AbuDhabi
1
12
19
.
@exxonmobil
said
#oil
production is expected to start in 2023-24 from
#deepwater
Carcara field in the
#Santos
basin off
#Brazil
, in which it has increased its interest in a unitization deal with
@EquinorASA
.
0
9
21
.
@Suncor
Energy will invest $1.4 billion to replace two coke-fired boilers with gas-fired cogeneration units in a project that will cut greenhouse-gas emissions from steam production at its Oil Sands Base Plant by 25%
0
14
21
.
@LyondellBasell
has broken ground on what it is calling the world’s largest
#propylene
oxide and
#tertiary
butyl alcohol (TBA) plant at the company’s Houston-area complex in Channelview, Tex.
0
9
21
A real
#TBT
to the very first
#OTCHouston
in 1969. It boasted 385 booths & 4,500 attendees (vs. 2,600 & 100K today).
http://t.co/H083dDC9Ud
0
25
18
1
39
20
#FunFactFriday
via
@SantosLtd
providing perspective on the size of an
#LNG
tank (GLNG project
http://t.co/UxdEgEwLWT)
http://t.co/VrueH4ouOj
3
39
20
2
14
18
1
21
17
Editorial: 29 years after Piper Alpha,
#offshore
industry must remember, learn from tragedy [subscription required]
0
18
16
.
@Shell
Offshore started production from Phase 1 of the Kaikias
#deepwater
project in the
#GulfOfMexico
a year ahead of schedule.
Kaikias is in the Mars-Ursa basin 130 miles off
#Louisiana
. Estimated peak production is 40,000 boe/d.
0
14
20
As part of
#OPEC
production "adjustment,"
#SaudiArabia
to cut output by 486,000 b/d,
#Iraq
to cut 210,000 b/d
0
35
20
At 1.2 million b/d, US
#oil
output growth in 2014 largest in more than 100 years,
@EIAgov
says
http://t.co/wZaHOx8aux
http://t.co/d7I6by7oBp
1
32
15
#OPEC
, non-OPEC production deal includes
#Mexico
cutting 100,000 b/d,
#Azerbaijan
35,000 b/d, and
#Oman
45,000 b/d
1
18
17
0
15
18
ConocoPhillips, with its $22.5B planned acquisition of Marathon Oil, could become the 3rd largest producer in the US Lower 48 behind ExxonMobil and Chevron/Hess, says Wood Mackenzie.
#OGJ
#oilandgas
#acquisitions
$COP $MRO
#Bakken
#EagleFord
0
6
19
Berkshire Hathaway Energy has completed a $3.3B deal to acquire
@DominionEnergy
's 50% limited partnership stake in Cove Point LNG LP. The ownership interest is held within BHE GT&S LLC.
#uslng
#OGJ
#lng
#berkshirehathaway
#infrastructure
#naturalgas
0
6
19
Nigeria’s government pledged to support Nigerian conglomerate Dangote Industries unit Dangote Oil Refining’s 650,000-b/d grassroots integrated refining and petrochemical complex now under construction in southwestern Nigeria’s Lekki Free Trade Zone
1
6
14
.
@Barclays
says global oil supply still exceeds consumption, believes recent
#oilprice
rally driven by strong demand
http://t.co/b2a6tww1GJ
0
12
18
.
@HessCorporation
documented as huge Tubular Bells topsides, spar were lifted, floated to sea
http://t.co/aABFMtVUX6
http://t.co/chkNpMfugc
0
18
18
.
@statoilasa
lets drilling, well services contract to Schlumberger for Mariner field in N. Sea
http://t.co/t49CVTN0Dc
http://t.co/ebLjnjQ0IU
0
23
19
#TBT
to May 24, 1902, the birth date of what would become Oil & Gas Journal. Illustration by Norman Rockwell, 1962.
0
14
19
0
9
18
US shale operators are on course to increase oil production in 2019. The growth in US onshore production from 1Q through 4Q could come in at 1.1-1.2 million b/d, or 16% for the full year, says
@RystadEnergy
2
13
17
With sub-$60/bbl
#oil
, US rig count plummets 27 units, forced down by big losses in
#Texas
, Permian, via
@BHInc
data
http://t.co/HxdKNAQX6H
3
28
17
The May West Texas Intermediate (WTI) crude oil futures, due to expire Apr. 21, plunged into negative territory at minus $38/bbl—far below the previous all-time front-month contract low of $10.42/bbl set on Mar. 31, 1983.
3
21
17
The state of Louisiana,
@Chevron
and
@APIenergy
sued the Biden administration over last-minute restrictions imposed on upcoming Lease Sale 261 for
#GulfofMexico
#oilandgas
exploration. ➡️
#OGJ
#Louisiana
#chevron
#API
#offshore
#endeavorbusinessmedia
0
3
17
1
8
15
Halliburton, Baker Hughes agree to merge in deal totaling $34.6 billion in equity value.
http://t.co/P8KDnXB0Lt
@Halliburton
@BHInc
#oil
1
51
18
Bankruptcies filed by North American
#oilandgas
producers are experiencing an uptick this year following a substantial decrease in 2017 and 2018, according to an Aug. 12 report by
@haynesboone
0
10
13
Sept US petroleum imports at 8.4M b/d, lowest since Feb. '95; Refined products avg 1M b/d, lowest on record
@API_News
http://t.co/KaT7WeRARJ
0
11
14
.
@HessCorporation
,
@Chevron
start
#oilandgas
production from Tubular Bells in Gulf of Mexico
http://t.co/Cv3qx9q6eW
http://t.co/RtKCWwTDUA
2
25
17
.
@CuadrillaUK
said drilling, hydraulic fracturing, and flow testing of the UK’s first horizontal shale gas well indicated a rich reservoir of recoverable high-quality natural gas from the Bowland shale in northwest England.
4
3
16
World energy consumption to increase 28% by 2040,
@EIAgov
projects. Gas to be fastest growing fossil fuel at 1.4%/yr
1
28
17
Taking this
#TBT
to remember the 167 lives lost from the Piper Alpha tragedy on July 6, 1988
0
25
17
“We’re only going to grow 5% per year; I’ve been asked that in every meeting today."
-- Pioneer Natural Resources Company
#CEO
within 40 seconds of starting formal remarks at recent
#investor
conference.
#oilgasindustry
#USshale
#oilandgas
#OGJ
#energy
2
6
18
.
@Saudi_Aramco
has signed an MOU with Zhejiang Petrochemical Co. (ZPC) to acquire ownership interest in ZPC’s grassroots 40 million-tonne/year refining and chemical integrated complex currently under construction in Zhoushan, Zhejiang Province,
#China
.
0
11
16
0
20
17
Pioneer National Resources CEO Scott Sheffield said he is growing more convinced that
#oilprices
will remain high for foreseeable future because cos won’t be able to grow demand at the pace some observers are expecting.
#oilandgas
$PXD
#OGJ
6
3
15
US shale production will peak at 14.5 million b/d around 2030,
@RystadEnergy
forecast, saying US light, tight oil represented less than 1% of world oil supply 9 years ago but represents close to 10% of total world oil supply in 2019
2
11
16
Is a swing from surplus to deficit imminent? OGJ forecasts what's in store for the
#oilmarket
in 2017, reviews 2016
3
17
14
.
@BP_plc
evacuates Thunder Horse platform in US gulf as Hurricane Irma moves westward over Atlantic toward Florida
1
18
15
2
19
16
In its June issue
#oilmarket
report,
@IEA
forecasts world
#oil
demand will expand by 2.2 million b/d to 101.6 million b/d in 2023, surpassing pre-pandemic levels.
#oilandgas
#oilmarket
#oildemand
0
7
16
#FactFriday
via
@SantosLtd
: By 2020, 10 Australian
#LNG
projects will collectively produce >85 million tonnes/year
1
26
16
#Fracking
, horizontal drilling produced 48% of US
#oil
in 2013, says
@ICFI
study via
@API_News
http://t.co/3eYzNOeXax
http://t.co/C91jV8Sdba
3
39
15
The bullish reaction in oil prices after the biggest attack on oil infrastructure since the Gulf War will likely be short-lived, according to
@RystadEnergy
. The drone attack on Abqaiq forced
@Saudi_Aramco
to shut in 5.7 million b/d of crude production.
1
11
13
STAR Rafineri, a subsidiary of SOCAR Turkey Energy, has officially opened its 10 million-tonne/year SOCAR Turkey Aegean Refinery (STAR) in Izmir, Aliaga, Turkey.
0
10
16
.
@Total
will acquire two
#exploration
licenses covering more than 12,000 sq km
#offshore
#Guyana
It agreed to acquire a 35% working interest in the Canje Block from a unit of JHI Associates and Mid-Atlantic Oil & Gas. The block is operated by
@exxonmobil
0
21
14
0
23
15
0
11
16
Vaalco Energy has started a drilling program in Etame oil field
#offshore
#Gabon
that will include appraisal of a reservoir below existing production
#oilandgas
1
4
14