Rosneft and Pertamina have formed PT Pertamina Rosneft Pengolahan dan Petrokimia to develop their joint venture refinery and petrochemical project in East Java, Indonesia.
David Lamp will become co-chief executive officer of CVR Energy Inc., Sugar Land, Tex., on Dec. 1 and chief executive officer on Jan. 1, 2018.
Hedging activity surged in this year’s third quarter as oil producers rushed to lock in rising prices for future production, according to Wood Mackenzie’s latest analysis of oil and gas hedging activity.
The US Bureau of Safety and Environmental Enforcement has approved Eni US Operating Co.’s application to drill in the Beaufort Sea off Alaska’s North Slope. The project represents the first fresh exploration on the US Arctic Outer Continental Shelf in more than 2 years, BSEE said.
A consortium of investors plans to develop Uzbekistan’s “25 Years of Independence” gas field in the Surkhandarya region in the southern part of the country. The first of two stages will begin 2017-18 with the drilling of a confirmation well and developing a feasibility study on expected reserves. The second stage will include field development, geological exploration, and the construction of a gas conversion facility and chemical complex to produce high value-added products.
Iraq plans to build a crude oil export pipeline from Baiji to Fishkhabur on the Turkish border that will carry crude from Kirkuk field for export from the Turkish port of Ceyhan. Iraq’s Oil Ministry instructed interested companies and government agencies to prepare the papers required to participate in the project, which will be offered on a build-operate-transfer basis.
B. Ashok, retired chairman of Indian Oil Corp. Ltd., will become chief executive officer of the joint venture planning a 1.2 million-b/d refinery and petrochemical complex in Maharashtra, India, according to press reports.
Operators will perform decommissioning on 349 oil and gas fields in the North Sea during 2017-25, more than half of them in UK waters, according to an annual report by Oil & Gas UK. Decommissioning will occur on 214 fields off the UK, 106 off the N…
ExxonMobil Corp. reported that production through the Hebron platform came on stream safely and ahead of schedule. Peak heavy oil production is expected to reach as much as 150,000 b/d. Hebron is 19 miles southeast of ExxonMobil’s Hibernia project.
The light, sweet crude oil contract for January delivery declined slightly to settle just under $58/bbl Nov. 28 on the New York market while Brent crude oil for January also fell but still settled above $63/bbl.