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  • Volume 117, Issue 9

    • Volume 117, Issue 9

    Sept. 2, 2019 | The OGJ150 group of US-based oil and gas producers reported massive increases in their key financial indicators of 2018, thanks to higher commodity prices. Concho Resources Inc., ranked No. 16 by assets a year earlier, moved to No. 7 this year, with its assets doubled to $26.29 billion. The company reported a net income of $2.28 billion for 2018, up from $956 million for 2017. Photo from Concho.
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    Economics & Markets

    OGJ150 group’s earnings surged in 2018 on higher crude oil prices

    Sept. 2, 2019
    The OGJ150 group reported a surge in earnings for 2018, thanks to higher commodity prices. Companies with a more liquids-weighted portfolio benefited most.

    More content from Volume 117, Issue 9

    General Interest

    Hilcorp to acquire BP’s Alaska business in $5.6-billion deal

    Sept. 2, 2019
    Hilcorp Alaska, Anchorage, has entered into a deal to acquire the entirety of BP Alaska’s operations and interests for $5.6 billion.
    General Interest

    GlobalData: Flaring limits, bottlenecks to constrain Bakken shale growth

    Sept. 2, 2019
    There is considerable potential to increase crude oil production from the Bakken to at least 2 million b/d from its current 1.44 million b/d, but flaring regulations and infrastructure...
    General Interest

    Rystad Energy: Sub-$50 oil means high stakes for subsea markets

    Sept. 2, 2019
    The subsea market in 2019 will experience year-on-year growth for the first time since 2014, but the positive outlook is vulnerable to any substantial decline in oil prices over...
    Photo from Honeywell UOP
    Honeywell UOP will provide technology licensing for multiple units as part of a refining-chemical integration project under way at PetroChina Guangdong Petrochemical's 400,000-b/d heavy crude oil processing and petrochemical site.
    General Interest

    PetroChina unit lets contract for refining-chemical integration project

    Sept. 2, 2019
    PetroChina Guangdong Petrochemical has let a contract to Honeywell UOP to provide technology licensing for multiple units as part of a refining-chemical integration project under...
    General Interest

    WoodMac lowers China gas production forecast

    Sept. 2, 2019
    China’s gas production is expected to double from 149 billion cu m (bcm) in 2018 to 325 bcm in 2040, according to a recent research of Wood Mackenzie. This is, however, 39 bcm...
    General Interest

    Strike-led JV unveils gas fairway with North Perth basin well

    Sept. 2, 2019
    The 50-50 JV of Strike Energy and Warrego Energy Ltd. has confirmed another large natural gas discovery in its multireservoir West Erregulla-2 appraisal well in the onshore North...
    General Interest

    Oilex group counterclaims East Timor PSC relinquishment

    Sept. 2, 2019
    An international joint venture led by Oilex has made a counterclaim to the ICC in regarding arbitration proceedings brought against it in October 2018 by ANPM regarding relinquishment...
    General Interest

    Qatar Petroleum to farm into Namibia blocks

    Sept. 2, 2019
    Adding to its international exploration program, Qatar Petroleum signed an agreement with Total SA to acquire interests in two blocks offshore Namibia.
    Custom-designed 3D spools linked seabed components of Zohr gas field’s transportation system (Fig. 1).
    Pipelines & Transportation

    Zohr pipeline component installation offers custom deepwater guidance

    Sept. 2, 2019
    Pipelay in the deepwater Zohr natural gas field reached 8.6 km/day for 8-in. OD pipeline and 4 km/day for 30-in. OD heavy WT sour service pipeline using S-lay. J-lay of 14-in....
    Photo from Dow Chemical
    Dow Chemicals is retrofitting its proprietary fluidized catalytic dehydrogenation technology into one of its mixed-feed crackers in Plaquemine, La., to produce on-purpose propylene.
    General Interest

    Dow plans retrofit of Louisiana mixed-feed cracker

    Sept. 2, 2019
    Dow Chemical Co. is retrofitting its proprietary fluidized catalytic dehydrogenation (FCDH) technology into one of its mixed-feed crackers in Plaquemine, La., to produce on-purpose...
    General Interest

    Equinor makes light oil discovery in Barents Sea

    Sept. 2, 2019
    Equinor and its partners reported an oil discovery with the Sputnik exploration well drilled in the Barents Sea. Recoverable resources are preliminarily estimated at 20-65 million...
    PAO Novatek subsidiary OOO Novatek-Ust-Luga let a contract to Haldor Topsoe AS to supply proprietary technology for hydrogen production as part of a hydrocracking complex upgrade to be completed at its 120,500-b/d gas condensate fractionation and transshipment refinery at the port of Ust-Luga on the Baltic Sea in Russia. When the hydrocracking complex is completed in mid-2020, Novatek-Ust-Luga will increase production of kerosine, diesel, and naphtha due to deep conversion of atmospheric residue after distillation of stable gas condensate (OGJ Online, Dec. 6, 2018).
    Refining & Processing

    AFPM Q&A -- 1: Refiners address trends in hydroprocessing

    Sept. 2, 2019
    During the American Fuel and Petrochemical Manufacturers Operations & Process Technology Summit, refiners addressed questions about hydroprocessing operations selected and answered...
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    Refining & Processing

    US olefins industry poised for further global growth

    Sept. 2, 2019
    For chemical companies involved in basic olefins and polyolefins markets, first-half 2019 was no dream. But the reality was not as stormy as many had expected.
    Photo from EuroChem Northwest.
    JSC EuroChem Northwest, a division of EuroChem Group, has commissioned its 2,890-tonne/day ammonia plant in Kingisepp, Russia.
    General Interest

    Russian operator starts up country’s largest ammonia plant

    Sept. 2, 2019
    JSC EuroChem Northwest, a division of EuroChem Group, has commissioned its 2,890-tonne/day ammonia plant in Kingisepp, Russia.
    General Interest

    Black Bear Midstream inks Cotton Valley gas gathering deal

    Sept. 2, 2019
    Black Bear Midstream LLC, a portfolio company of funds managed by Oaktree Capital Management LP, has entered into a 7-year gas gathering and processing agreement with an unidentified...
    Government

    EPA remains commited to work with IOGCC on task force

    Sept. 2, 2019
    The US Environmental Protection Agency announced that it is renewing its commitment to collaborate with the Interstate Oil & Gas Compact Commission on a task force that EPA and...
    General Interest

    EIA: Global oil market expected to remain in balance in second half

    Sept. 2, 2019
    The US Energy Information Administration, in its latest Short-Term Energy Outlook, forecasts Brent crude spot prices will average $64/bbl in this year’s second half and $65/bbl...
    Editor's Perspective

    The Editor's Perspective: Impossible promises blunt moralizing in Sanders’ climate plan

    Sept. 2, 2019
    Prominent among the many ways liberal scolds make themselves insufferable is by moralizing about others’ past infractions of retrospectively defined rules.
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    Exploration & Development

    Operators accelerate exploration efforts across Australia’s basins

    Sept. 2, 2019
    Operators are increasing exploration efforts offshore Australia and resuming onshore shale gas activities in the Northern Territory (NT) since officials lifted a 3-year moratorium...
    Drilling & Production

    Field audits optimize Anadarko basin operator’s microbial control program

    Sept. 2, 2019
    DuPont Microbial Control (DMC) determined for an operator in Anadarko basin’s SCOOP and STACK plays in Oklahoma that glutaraldehyde-quaternary ammonium (glut-quat) controlled ...
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    Pipelines

    Satellite-based radar assesses CNPC management of crude pipelines

    Sept. 2, 2019
    Oil inventories measured by satellite-based synthetic aperture radar can help market participants and policymakers more accurately assess how CNPC is managing the pipelines that...
    Government

    Watching Government: Looking at CWA Section 401

    Sept. 2, 2019
    The US Environmental Protection Agency proposed a new rule on Aug. 22 that it said was intended to update and clarify substantive and procedural requirements for water-quality...