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API questions possible RIN tradeoff if more E15 allowed on market

September 28th, 2018

An American Petroleum Institute official expressed strong skepticism about statements from the Trump administration that extending a volatility waiver to gasoline with a 15% ethanol blend in exchange for reforming renewable fuel credits for refiners and blenders would be a possible satisfactory solution for all concerned.

Baker Hughes: US rig count rises single unit to 1,054

September 28th, 2018

The US drilling rig count is up a single unit to 1,054 rigs working for the week ended Sept. 28, according to Baker Hughes data. The count is up 114 units from the 940 rigs working this time a year ago.

Talos Energy gets CNH approval for Zama appraisal plan

September 28th, 2018

Mexico’s oil and gas regulator National Hydrocarbons Commission (CNH) has approved the appraisal plan for the Talos Energy Inc.-operated Zama-1 discovery on Block 7 in the shallow-water Sureste basin off Mexico and is currently reviewing the application for permits required to commence drilling operations.

BP wins approval for Vorlich development

September 28th, 2018

BP PLC expects production to begin in 2020 from Vorlich gas condensate field in the Central North Sea, for which it has received development approval from the UK Oil and Gas Authority.

Majors awarded Brazil presalt acreage in final auction before election

September 28th, 2018

ExxonMobil Corp., Royal Dutch Shell PLC, BP PLC, and Petroleo Brasileiro SA (Petrobras) added operated exploration positions with awards in Brazil’s 5th presalt bid round conducted by the National Agency of Petroleum, Natural Gas, and Biofuels (ANP) where areas of the Saturno, Tita, Pau-Brasil, and Sudoeste de Tartaruga Verde blocks in the Campos and Santos basins were offered.

BSEE issues updated offshore oil and gas safety regulations

September 28th, 2018

The US Bureau of Safety and Environmental Enforcement released updated offshore oil and gas production safety and environmental regulations that it said reduce unnecessary regulatory burdens while ensuring that operations remain safe and environmentally responsible. The new rule becomes effective 60 days after its scheduled publication in the Federal Register on Sept. 28.

Neptune completes VNG Norge acquisition

September 28th, 2018

Neptune Energy Group has acquired 100% of the shares of VNG Norge AS from VNG AG, a natural gas wholesaler and energy-service provider based in Leipzig. Terms weren’t disclosed.

Chariot Oil & Gas prepares to drill Prospect S off Namibia

September 28th, 2018

Chariot Oil & Gas Ltd., London, said the Ocean Rig Poseidon deepwater drillship was expected to arrive by Sept. 30 at the Prospect S well site offshore Namibia with spudding planned shortly after the vessel’s arrival. Drilling is expected to take 40 days in 1,650 m of water.

Key Petroleum acquires Mount Horner oil field from AWE

September 28th, 2018

Key Petroleum has reported completion of its acquisition from AWE (now a wholly owned subsidiary of Mitsui & Co. Ltd.) of production license L7 (R1) in the onshore North Perth basin of Western Australia. The permit contains Mount Horner oil field, which Key now intends to rehabilitate.

MARKET WATCH: NYMEX crude climbs back above $72/bbl on Perry remarks

September 28th, 2018

Light, sweet crude oil prices bounded back above $72/bbl on the New York market Sept. 27 after US Energy Sec. Rick Perry said there are no plans to release oil from the US Strategic Petroleum Reserve. The US November crude contract settled below $72/bbl on Sept. 26 after two previous consecutive settlements above that level.

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