OIL FALLS TO NEAR SIX-YEAR LOW AS US, OPEC CONTINUE PUMPING

Oil resumed its decline as US drilling increased and Iran said OPEC production may rise to a record after sanctions on the country are lifted, FuelFix reports. Futures slid as much as two per cent in New York to trade near the six-year intraday low reached on 14th August. OPEC may boost output to 33 ...

US TO REPORTEDLY BEGIN LIMITED CRUDE OIL SWAPS WITH MEXICO

The Obama administration will begin to allow limited US crude oil swaps with Mexico, according to reports from multiple news organisations, OGJ reports. The US Department of Commerce is “acting favorably on a number of applications” to export US crude in exchange for imported Mexican oil, Reuters quoted an unnamed official as saying. Approvals are ...

SHELL CREATES CARRIBEAN DIVISION, APPOINTS LUIS PRADO AS HEAD

Royal Dutch Shell has reported it has created an English and Dutch Caribbean region to be headquartered in Trinidad and Tobago, OGJ reports. Shell has said the move is an effort to enhance the focus and coordination of Shell’s business in the area. The region will be led by Luis Prado, who will add accountability ...

US OIL DRILLERS ADD RIGS DESPITE PRICE DECLINE

US energy firms have added oil rigs for a fourth straight week, according to data that highlights how a period of stable prices earlier this summer lulled some drillers into stepping up spending just before a second oil market slump, Reuters reports. Reflecting plans announced in May and June, when US crude futures averaged $60 ...

CHEVRON TO CUT 950 JOBS IN HOUSTON AMID OIL SLUMP

US-based Chevron employees are finding out whether they will lose their jobs as the company pushes forward on plans to cut 950 positions in Houston amid falling oil prices, FuelFix reports. The job cuts are part of a broader plan by the San Ramon, California-based energy giant to eliminate around 1,500 jobs worldwide as Chevron ...

ALLIANCE PIPELINE RESTARTS MAINLINE GAS SYSTEM

Alliance Pipeline has restored full service of its 3,848-kilometre (2,391-mile) integrated Canadian and US natural gas transmission mainline system after an early-August release of hydrogen sulfide into the pipeline forced its complete shutdown, OGJ reports. The pipeline’s mainline system safely resumed commercial operations on 13th August following receipt of natural gas linepack from shippers, which ...

UK, GERMANY DISPUTE OVER EU DEBATE ON GREEN ENERGY TARGETS

Britain and Germany will line up on opposite sides of a EU green energy debate starting next month on how to meet agreed renewable energy targets for the next decade, Reuters reports. The 28 member states agreed climate and energy goals last October, but to make it easier to get a deal, the decision went ...

TOTAL ABANDONS VENDSYSSEL-1 SHALE GAS EXPLORATION WELL, DENMARK

The Danish Energy Agency (DEA) has reported that Total has abandoned the shale gas exploration well Vendsyssel-1 in Northern Jytland, Energy-Pedia reports. The well confirmed the presence of gas in the Alum Shales but the thickness of the layer was smaller than expected. As operator of licence 1/10, Total E&P Denmark has drilled the exploration ...

KEROGEN CAPITAL ACQUIRES ZENNOR PETROLEUM IN UK

Kerogen Capital, an independent private equity fund manager in the international oil and gas sector, has completed the acquisition of Zennor Petroleum (formerly MPX E&P) and its subsidiaries, with around $1.6 billion in invested and committed capital, Energy-Pedia reports. This is Kerogen’s first investment from its third managed fund, Kerogen Energy Fund II L.P. The ...

UNIPETROL SUFFERS EXPLOSION AT ETHYLENE PLANT, CZECH REPUBLIC

Unipetrol has shuttered production at its Chempark Zaluzi petrochemical complex in Litvinov, Czech Republic, following an explosion and ensuing fire at the site’s 544,000-tpy ethylene plant, OGJ reports. The explosion, which occurred around 9:00 a.m. local time on 13th August following a propylene leak at the plant’s steam cracker, was followed by fires in two ...