Light Sweet Crude Exports Jump at LOOP
The Louisiana Offshore Oil Port (LOOP) exported a record 283,333 barrels per day of light sweet crude last month, according to trade sources, as prices weakened against global Brent.LOOP, which exports mostly medium sour grades produced in the U.S. Gulf of Mexico, last month exported more than twice the amount of light sweet from the prior month. Overall exports of U.S. crude hit a record 3.77 million barrels per day (bpd) one week in June, U.S. government data showed.A decline in oil imports at the facility, stemming from record U.S.
TX Refineries Cut Output as Spill Curbs Shipping
Royal Dutch Shell Plc and LyondellBasell Industries cut production on Monday at their Houston-area oil refineries because of shipping disruptions along a waterway affected by a petrochemical fire and spill, according to people familiar with the matter.A fire and fuel leak at Mitsui & Co Inc's Intercontinental Terminals Co (ITC) storage facility in Deer Park, Texas, last week sent gasoline, water and fire suppressant foam into the Houston Ship Channel, which connects Houston to the Gulf of Mexico, and is home to nine oil refineries.The U.S.
Houston Ship Channel Reopened
The U.S. Coast Guard on Monday reopened portions of the Houston Ship Channel with restrictions on waterways affected by the petrochemical leak outside Houston that has disrupted ship traffic.The busiest U.S. oil port, shut last Friday after a chemical leak into the water, led Royal Dutch Shell Plc and LyondellBasell Industries to cut production on Monday, according to people familiar with their operations.In a midday announcement, the Coast Guard said it is allowing daytime transits only through the ship channel…
Houston Tank Fire Spreads to More Tanks
A storage tank fire on the Houston Ship Channel on Sunday has spread to seven petrochemical storage tanks, forcing residents in the suburb of Deer Park, Texas, to stay indoors on Monday, but no evacuations or injuries were reported.The fire, which sent a plume of black smoke across the city's eastern half and was visible from 10 miles (16 km) away , began in a giant storage tank containing naphtha, a volatile component of gasoline, at about 10:30 a.m. (1530 GMT) on Sunday.By evening…
Shell Hires Velesto Energy for Malaysia Drilling
Velesto Energy was awarded a RM 101 million (USD 25 million) contract from Sarawak Shell Bhd (SSB) and Sabah Shell Petroleum Company Ltd (SSPC) for the provision of jack up drilling rig services.Velesto Energy was formerly known as UMW Oil & Gas Corp and a wholly owned subsidiary Velesto Drilling Sdn Bhd (VED). SSB/SSPC are subsidiaries of Royal Dutch Shell Plc.Velesto said it would deploy the Naga 7 jack-up rig for the contract, with the start date to be between August 1, 2018, and September 30, 2018.The Naga 7, designed by Gusto MSC, was built in China in 2015.
GasLog Partners Signs New Charter Agreement with Cheniere Energy
GasLog Partners announced that it has entered into a new multi-year time charter for the GasLog Sydney with a wholly owned subsidiary of Cheniere Energy scheduled to commence in 2018. The charterer has options to extend the charter for up to two consecutive periods at escalating rates. GasLog Sydney is a 155,000 cbm tri-fuel diesel electric liquefied natural gas (LNG) carrier built in 2013 and currently on a multi-year time charter with a wholly owned subsidiary of Royal Dutch Shell plc through September 2018.
Phoenix Petroleum, CNOOC Partner for LNG Terminal
Philippine fuel retailer Phoenix Petroleum said it had agreed to partner with a subsidiary of state-owned China National Offshore Oil Corp (CNOOC) to explore building a receiving terminal for liquefied natural gas in the country.The Philippines is seeking investors to build a storage and distribution facility for imported LNG as it moves to replace its Malampaya gas reserves, expected to be depleted by 2024.Phoenix Petroleum, owned by a local businessman who helped bankroll President Rodrigo Duterte's 2016 election campaign…
Kuwait Signs LNG Import Deal With Shell
Kuwait Petroleum Corp. (KPC) has signed a 15-year liquefied natural gas import deal with Royal Dutch Shell Plc to help the oil exporting nation meet growing domestic energy demand. A report in Bloomberg said that the sales purchasing agreement with Shell International Trading Middle East Ltd. will start in 2020. The contract will cover 2 million to 3 million metric tons of LNG a year. The volumes delivered under the contract will be used to fire up KPC’s power stations. A press…
CNOOC Ends Feasibility Study for Western Canadian LNG Terminal
China's CNOOC Ltd said on Thursday it will end the feasibility study for its (LNG) export terminal on British Columbia's coast due to low global commodity prices, in the latest setback for Canada's energy industry. Nexen Energy, a unit of CNOOC, said in a statement the current macro-economic environment does not currently support developing a large LNG business. The project, a joint venture with Japan's Inpex Corp , would have had the capacity to export 24 million tonnes of LNG per year, granting Canadian gas producers access to the Asian market.
Sovcomflot Launches LNG-Powered Ships
Russia’s biggest tanker operator will launch four new vessels in 2018 that will run on liquefied natural gas (LNG), Bloomberg reported. Sovcomflot’s Aframax ships, capable of carrying 600,000 barrels of oil through the Baltic Sea to the port of Rotterdam, will be the first tankers run on LNG. Royal Dutch Shell Plc and other energy companies that have invested more than $700 billion in LNG projects over the past decade are going to be benefitted by this project. While ships won’t transform the market, Energy Aspects Ltd.
GasLog Partners buy GasLog Greece
Greece-based GasLog Partners LP has reached an agreement to buy 100% of the shares in the entity that owns and charters the liquefied natural gas (LNG) tanker GasLog Greece from GasLog Ltd. The aggregate purchase price for the Acquisition will be $219 million, which includes $1 million for positive net working capital balances to be transferred with the vessel. GasLog Partners expects to finance the acquisition with cash on hand, including proceeds from its recent equity offering, and the assumption of $151 million of GasLog Greece's existing debt.
Peru Workers Plan Strike That Could Disrupt LNG Exports
Natural gas workers in Peru plan to hold an indefinite strike starting Dec. 29 that would disrupt production of the widely-used fuel as well as Royal Dutch Shell Plc's liquefied natural gas exports, the union SUTRAPPEC said Thursday. Some 200 unionized workers needed to operate Peru's Camisea gas fields will down tools to press Argentine energy company Pluspetrol to offer better wages and benefits in a new labor agreement, said SUTRAPPEC spokesman Juan Carlos Vargas. Pluspetrol…
SBM Offshore Nominates Wood as CFO
SBM Offshore has nominated D.H.M. Wood as a member of the management board and chief financial officer (CFO) to replace current CFO, P.M. van Rossum, who is set to retire. The company will hold an Extraordinary General Meeting (EGM) on November 30, 2016 where it will be proposed that Wood be appointed as a member of the management board for a period of four years until the 2021 AGM. Van Rossum will then step down as management board member and CFO. Wood has worked at Royal Dutch Shell plc since 1993 in various financial and management positions…
Samsung Heavy Loses $4.6-bln FLNG Order
South Korea’s shipbuilder Samsung Heavy Industries (SHI), the world’s third-largest shipbuilder, has received a contract termination for three floating liquefied natural gas (FLNG) units from oil and gas giant Royal Dutch Shell Plc. The deal for the three vessels, worth a total of KRW 5.3 trillion (USD 4.6 billion), was signed between the companies in June 2015. The contract fromShellwas voided because of the current difficult market conditions, the Sungnam, South Korea-based company said in a regulatory filing. The three FLNGs were expected to join their owner by the end of November 2023.
Van der Veer Elected to Statoil Board
In a meeting in the Corporate Assembly of Statoil ASA on 17 March 2016, Jeroen van der Veer was elected as a new member of Statoil's board of directors. Van der Veer was the Chief Executive Officer in the International oil and gas company Royal Dutch Shell Plc (Shell) in the period 2004 to 2009, when he retired. Van der Veer thereafter continued as a non-executive director on the board of Shell until 2013. He started to work for Shell in 1971 and has experience within all sectors of the business.
Statoil Reccommends Van der Veer for BoD
The nomination committee in Statoil (OSE:STL, NYSE:STO) recommends that the company's corporate assembly elects Jeroen van der Veer as a new member of Statoil's board of directors. Van der Veer was the Chief Executive Officer in the international oil and gas company Royal Dutch Shell Plc (Shell) in the period 2004 to 2009, when he retired. Van der Veer thereafter continued as a non-executive director on the board of Shell until 2013. He started to work for Shell in 1971 and has experience within all sectors of the business.
Woodside Appoints Pickard Non-executive Director
The Board of Woodside has appointed Ms Ann Pickard as a non-executive director effective 29 February 2016. Ms Pickard joins Woodside as an independent director. Woodside Chairman Michael Chaney said that Ms Pickard had significant international business experience. “The directors are delighted that we have been able to attract a person of Ms Pickard's background and experience to the company's Board,” Mr Chaney said. On 1 February 2016 Ms Pickard retired from Royal Dutch Shell plc, where she held numerous positions during her 15-year tenure with the company.
MISC Buys Back 50% Equity in Gumusut-Kakap for $445mln
Malaysian state-owned shipping company MISC has bought the remaining 50% stake in the Gumusut-Kakap Semi-Floating Production System Limited (GKL) for $445m from E&P Venture Solutions (EPV), part of Petronas Carigali. GKL, a wholly-owned subsidary of PETRONAS Carigali Sdn Bhd (PCSB), owns the Gumusut-Kakap semisubmersible floating production system (FPS), which is now on a 25 year charter with Sabah Shell Petroleum Co. - a unit of Royal Dutch Shell plc. - that commences October 2014.
Qatargas, Maersk, Shell in LNG Marine Fuel Partnership
Three heavy weights have come together in the Middle East to promote LNG as marine fuel in the region - Qatargas, the Maersk Group and Royal Dutch Shell Plc signing a memorandum of understanding to explore future opportunities. All three have pledged to look at ways to develop new markets for using LNG as propulsion fuel. The MOU envisages Qatargas 4, a joint venture between Qatar Petroleum and Shell, to begin supplying Maersk’s merchant fleet with LNG fuel “before the end of the current decade”, Qatargas, the world’s largest LNG producer, said in a statement.
Chevron Mulls LNG Supplies to China
Energy giant Chevron has signed a preliminary agreement with China's ENN LNG Trading company to supply liquefied natural gas (LNG) from its $54 billion Gorgon LNG project in Western Australia. Chevron plans to supply a unit of ENN Energy Holdings Ltd. with as much as 500,000 metric tons of LNG a year from Australia's largest gas project, Gorgon. It follows Chevron’s initial agreement in late December to sell as much as 1 million tons of LNG a year to China Huadian Green Energy Co.
Shell Appoints Wetselaar as Integrated Gas Director
Royal Dutch Shell plc announced the appointment of Maarten Wetselaar Integrated Gas Director with effect from January 1, 2016. Integrated Gas in Shell has grown into a business that generated $11 billion of cash flow per year average over the last three years, compared to $2 billion in 2009, the company said. Integrated Gas is now being established as stand-alone organization in Shell, reflecting both its enlarged scale and investment potential. In this new role, Maarten will become a member of the Executive Committee of Shell.
Shell Malaysia Cutting 1,300 Jobs over Two Years
Oil and gas company Shell Malaysia announced on Tuesday a reorganisation of its upstream division, which will see a reduction of 1,300 jobs over the next two years. Shell Malaysia, a unit of Royal Dutch Shell PLC, said in a statement the programme aims to improve efficiency and removing complexity to become a more agile and competitive company. It has a total workforce of about 6,500 staff. Reporting By Yantoultra Ngui
Shell Sells Elba Liquefaction Project Interest to Kinder Morgan
Kinder Morgan Inc. will buy out Royal Dutch Shell PLC’s interest in their proposed Elba Liquefaction Co. (ELC ) joint venture in Georgia. Houston-based Kinder Morgan already owns 51% of the ELC joint venture. The firm said it would buy the 49 percent stake that it does not already own in the natural gas joint venture and it raised its dividend. ELC owns the Elba Liquefaction Project, which is proposed to be constructed and operated at the existing Elba Island LNG Terminal near Savannah, Georgia.
Shell Readies to Drill in Arctic, Seeks Modified Permit
Shell has informed the U.S. Bureau of Safety and Environmental Enforcement (BSEE) that it is set to restart its controversial hunt for Arctic oil, three years after the company’s last ill-fated venture north, reports The Guardian. “Fennica, the safety vessel and icebreaker, is in the Chukchi Sea, drilling continues, and we have requested the permit to drill deeper in this exploration well,” said a spokeswoman for the company. Meanwhile, Royal Dutch Shell PLC has applied to amend…
Shell Arctic Drilling "Risky"
Former BP PLC Chief Executive John Browne said fellow FTSE 100 giant Royal Dutch Shell PLC is risking its long term reputation and finances by deciding to drill n the Arctic, the BBC reported. Both Browne and Shell Chief Executive Ben van Beurden gave interviews to BBC for a Radio 4 documentary concerning climate change, where Browne said Shell should not be prioritising the Arctic as an area for exploration for a variety of reasons, especially in the current downturn. "I'm not chairman of Shell.
Dawei LNG Terminal for Shell
Royal Dutch Shell plc recently entered into an agreement with Thailand-based companies to develop a liquefied natural gas (LNG) terminal at the Dawei special economic zone in the Tanintharyi Region in Myanmar, says local daily Myanmar Times. The firm has signed a Joint Development Agreement (JDA) with Thai companies Italian-Thai Development and LNG Plus International in Bangkok on August 19 to cooperate on developing the terminal. It will consist primarily of an LNG receiving and re-gasification terminal at Dawei special economic zone. The LNG will be sold through Myanmar and Thailand.