Hurricane Michael Races Northeast, Leaving Devastation in Florida
Hurricane Michael, the third most powerful storm ever to strike the U.S. mainland, headed northeast on Thursday, weakened but still set to soak Georgia and the Carolinas after devastating the Florida Panhandle.By 6 AM on Thursday, heavy rain and wind had reached as far north as Charlotte, North Carolina and the Western North Carolina mountains. The center of the storm was located over Augusta, Georgia, moving north rapidly at more than 20 MPH in a north / northeast heading. Charlotte…
Bangladesh to Hold Talks with ENOC for LPG Terminal
Bangladesh will hold talks with Dubai-based Emirates National Oil Company (ENOC) to set up an liquefied petroleum gas (LPG) terminal in the country, a Dhaka-based official said on Tuesday."ENOC has sent us a proposal for a joint venture project to build an LPG terminal," said Sayed Mohammad Mozammel Haque, a director of state-owned Bangladesh Petroleum Corporation."We have invited them for detailed discussions in our office in Dhaka. They are supposed to come on Oct.
Bangladesh Shelves LNG Projects as Others Ramp Up
Bangladesh has put aside two smaller liquefied natural gas (LNG) projects with trading houses Gunvor and Vitol to focus on two larger LNG import terminals, one of which is already in use while the second will start up in March.Bangladesh has turned to LNG to offset falling domestic gas output to feed industrial demand and electricity generation in a nation of 160 million people where a third have no power supply.It aims to import 17 million tonnes a year of LNG by 2025, which in today's terms would make it a top five importer.
U.S. Gulf Coast Ports Being Inspected After Storm Gordon
Energy companies and port operators along the U.S. Gulf Coast were taking steps on Wednesday to resume operations after Tropical Storm Gordon shut 9 percent of the region's oil and gas output.Coast Guard inspectors were flying over ports in Mississippi and Alabama to inspect the facilities, which remained closed to most traffic, Petty Officer 3rd Class Alexandria Preston said. In New Orleans, pilots have begun moving cargo ships through mouth of Mississippi River after storm, a spokesman said.Reporting by Gary McWilliams
Gas to Overtake Oil as Primary Energy Source by Mid-2030s
Nearly two-thirds (64%) of oil and gas sector leaders expect to increase or sustain spending on gas projects in 2018, as the sector prepares for gas to overtake oil as the world’s primary energy source in the mid-2030s. Confidence in the case for gas is growing, according to a survey by DNV GL, the technical advisor to the industry. The vast majority (86%) of the 813 senior industry professionals surveyed agree that gas - the least carbon-intensive fossil fuel - will play an increasingly important role in the global energy mix over the next decade, up from 77% last year.
Total in Talks to Buy Iranian LNG Project
Total is in talks to buy a multi-billion dollar stake in Iran's partly-built liquefied natural gas (LNG) export facility, Iran LNG, seeking to unlock vast gas reserves. The French oil major -- the first of its peers to strike deals in Iran after sanctions -- seeks entry into Iran LNG at a discount to the pre-sanctions price in exchange for reviving the stalled project, two sources with knowledge of the matter said. A third source confirmed Total was in the running for a stake, alongside several other oil majors, but any deal was still some way off. Total declined to comment.
Highest OTC Award for Petrobras
For the third time, Petrobras is set to receive the highest award that an oil company can be given, bestowed by the Offshore Technology Conference (OTC) committee, based in Houston, USA. The OTC Distinguished Achievement Award for Companies, Organizations, and Institutions provides recognition for the set of technologies developed for oil and gas production in the pre-salt layer off the Brazilian coast, where the company achieved a new daily production record on December 21, 2014, extracting 713,000 barrels of oil. The awards ceremony will take place in May in Houston.
Natural Gas Workers in Peru May Strike
Natural gas workers in Peru, South America's biggest exporter of liquefied natural gas, said on Friday they had pulled out of wage talks with Argentine energy company Pluspetrol and would vote on a possible strike in a few weeks. Pluspetrol leads the consortium that taps Peru's Camisea fields, the source of the country's daily natural gas output of around 1.2 billion cubic feet. Juan Carlos Vargas, a spokesman for the SUTRAPPEC union that represents 193 of the 494 Camisea workers, said a walkout would halt natural gas production. "There would be no one to pump the gas," Vargas said.
Russia's Oil Output Steady
Monthly oil output in Russia, the world's biggest producer, was flat in October, according to energy ministry data published on Sunday. Russia pumped an average 10.6 million barrels per day (bpd)last month, producing a monthly total of 44.838 million tonnes. Daily gas output rose to 1.71 billion cubic metres (bcm) in October, up from 1.52 bcm per day in September. (Reporting by Katya Golubkova; Editing by Louise Ireland)
Total CEO Killed in Moscow Runway Accident
Private jet collided with snow plow during takeoff; Total's CEO a defender of Moscow policies. Insiders Boisseau and Pouyanne long seen as potential successors. The chief executive of French oil major Total, Christophe de Margerie, was killed when his private jet collided with a snow plough as it was taking off from Moscow's Vnukovo airport on Monday night. De Margerie's death leaves a void at the top of one of the world's biggest listed oil firms at a difficult time for the industry as oil prices fall and state-backed competitors keep them out of some of the best oil exploration territory.
Peak of Petroleum Engineers?
Petroleum engineers are among the best paid professionals in the United States. Only chief executives and some specialist doctors earned more last year, according to federal government pay data. Petroleum engineers were paid an average of $132,000 a year, with the top 10 percent on more than $187,000, according to the Bureau of Labor Statistics (BLS). These figures include everyone from the newest graduates to the most experienced engineers with decades of experience, and are based on median earnings in May 2013.
US 2014 Petroleum Production: Why Hubbert was Wrong
Combined production of crude oil, gas and condensates in the United States is on course to a hit a record this year, passing the previous peak set in 1972. The rise in output has confounded the famous forecast made by Shell geologist M King Hubbert who predicted that U.S. oil and gas production would peak in the 1970s and then decline. Hubbert's prediction was contained in a paper entitled "Nuclear Energy and the Fossil Fuels," published in 1956, in which he argued the coming decline of oil and gas output would make the development of nuclear energy essential.
Petrobas FPSO Goes Onstream Offshore Brazil
FPSO 'Cidade de Paraty' went onstream to begin commercial production in the Santos Basin Lula Nordeste pre-salt. Cidade de Paraty is a FPSO platform (Floating, Production, Storage and Offloading) vessel anchored at a water depth of 2,120 meters, some 300 km off the coast and has the capacity to process up to 120,000 barrels of oil and 5 million cubic meters of gas per day. The 7-LL-11-RJS, the first well to be connected to the platform, has the potential to produce 25,000 barrels per day.
North America Leads Shift in Global Energy Balance
North America is at the forefront of a game-changing transformation in oil and gas production claims International Energy Agency publication. This year’s World Energy Outlook published by IEA finds that the extraordinary growth in oil and natural gas output in the United States will mean a sea-change in global energy flows. In the New Policies Scenario, the WEO’s central scenario, the United States becomes a net exporter of natural gas by 2020 and is almost self-sufficient in energy, in net terms, by 2035.
Aker Solutions & Statoil awarded ONS Innovation Award
Aker Solutions & Statoil have been awarded the ONS Innovation Award for the Åsgard subsea gas compression system. Reservoir pressure in producing gas fields falls over time, causing gas output to decline. For production to continue and maximise recovery from the fields, gas pressure must be raised or production will cease. Until now the solution has been to install gas compressors on an existing platform, or to build a new manned compression platform. A more cost-effective alternative is to install the compressors on the seabed…