Light, sweet crude prices for February delivery settled Jan. 7 below $34/bbl on the New York market, which was the lowest settlement for the front-month contract since February 2004. Brent crude oil for February also settled below $34/bbl on the London market Jan. 7. Source: News
Sweden’s Nynas completes takeover of German refining assets
Nynas AB of Sweden has completed its takeover of Royal Dutch Shell PLC’s former Harburg refining assets in Hamburg, Germany, to operate as a specialty lubricants refinery. Source: News
Agency submits first well stimulation report to California lawmakers
There were no well failures associated with oil and gas well stimulation and treatment (WST), no emergency responses or spills, and no requests for confidential well status or trade secret protection from Jan. 1, 2014, through June 30, 2015, California’s Oil, Gas & Geothermal Division said in its first comprehensive WST report to the state […]
Preem lets contract for Lysekil refinery
Swedish refiner Preem AB, a wholly owned subsidiary of Corral Petroleum Holdings AB, Stockholm, has let a contract to Amec Foster Wheeler (AFW) for the planned expansion of vacuum distillation capacity its 11 million-tonne/year refinery in Lysekil, Sweden. Source: News
Study links acceptance, energy marketing
Social acceptance is central to marketing Canadian energy, asserts new policy recommendations from the C.D. Howe Institute, Toronto. Source: News
PNR to stay the course in Spraberry-Wolfcamp in 2016
Pioneer Natural Resources Co., Irving, Tex., plans a preliminary 2016 capital program of $2.4-2.6 billion, allowing the company to maintain overall production growth boosted by its Spraberry-Wolfcamp acreage. Source: News
MARKET WATCH: NYMEX, Brent oil prices sliding on China’s economic turmoil
Crude prices for February delivery plunged to settle $2/bbl lower on the New York market Jan. 6 while Brent prices settled $2.19/bbl lower in London. Analysts blamed falling prices on signs of an economic slowing in China, a major oil consumer. Source: News
TransCanada starts legal actions after Keystone XL permit denial
TransCanada Corp. said it will submit a claim that US President Barack Obama’s Nov. 6 denial of the company’s Keystone XL crude oil pipeline’s cross-border permit application was arbitrary and unjustified under Section 6 of the North American Free Trade Agreement. Source: News
Suriname commissions newly expanded refinery
Suriname state oil firm Staatsolie has completed the long-planned major expansion and efficiency project to double crude processing capacity and expand fuel production at the Tout Lui Faut refining complex about 12 miles south of the country’s capital city of Paramaribo. Source: News
China’s Hebei Haiwei lets contract for polypropylene unit
Hebei Haiwei Group Co. Ltd. has let a contract to CB&I, Houston, to provide technology licensing and engineering design for a polypropylene (PP) unit to be built in Jingxian, Hebei Province, China. Source: News