1. OPEC成员依旧致力于提高市场占有率
周一,OPEC成员科威特和伊拉克计划继续努力提高市场占有率。接下来的五年中,科威特计划在石油行业投资1104亿美元。而伊拉克将向其合作伙伴额外供应500万桶原油。
2. Saudi Aramco公司2015年石油产量创历史新高
Saudi Aramco公司年度报告显示:2015年,Saudi Aramco日平均石油产量为1020万桶,创下历史新高,而2014年日平均石油产量为950万桶。Saudi Aramco重申其日产油量可达1200万桶。
3. OPEC被迫接受油价变化
上周,油价虽然超过50美元/桶。但是,将于周四在Vienna举行的OPEC会议将不会达成冻产协议,而且沙特阿拉伯曾在多哈会议上拒绝冻产协议。
4. 石油供求重归平衡 悲观主义者开始让步
对石油市场持悲观态度的人开始让步。油价超过50美元/桶,这意味着供求状况正在重归平衡。
5. Suncor将在Fort McMurray附近重新开始生产作业
周日,Suncor发布消息称:Suncor已经在Fort McMurray附近重新开始生产作业。Suncor将在本周末之前开始初期生产,而Suncor旗下的基地工厂和MacKay River地区工厂已经开始了调试活动。
6. Carnarvon收购North West Shelf租地
Carnarvon Petroleum已经收购了WA-523-P的全部股权,由此为其在澳大利亚North West Shelf地区的项目增添了优质资产。
7. 法国工人延长罢工
法国总工会(CGT)官员在接受路透社采访时表示:CIM公司工人决定在Le Havre港延长罢工,于周三1000 GMT结束罢工。
8. 哈佛化学家研制出“产能细菌”
曾经研制出人造树叶的哈佛化学家已经制造出一种可以吸收氢和二氧化碳,并将其转化为燃料酒精的细菌。这名化学家表示该系统转化太阳能的效率要比植物高出10倍。
9.尼日利亚总统计划和产油区领导会谈
周日,尼日利亚总统表示将会与三角洲产油区领导举行会谈,以阻止管道袭击事件增加,军队镇压活动也会继续。
10. 由于天然气供过于求 Jera公司开始出售天然气
日本Jera公司为世界最大LNG购买商之一,现已同意将LNG出售给法国Electricite de France SA. Jera公司(Tokyo Electric Power与Chubu Electric Power合资企业),预计将在2018年6月至2020年12月售出150万公吨LNG。石油圈原创www.oilsns.com
来自/Oil Pro 5月30日消息 编译/赵宁
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OPEC's Market Share Strategy Remains Alive & Well Ahead Of This Thursday's Meeting.Monday brings news from OPEC members Kuwait and Iraq, both of which plan to continue aggressively pursuing this market share strategy. Kuwait plans to invest $110.4 billion in its oil sector in the next five years, and Iraq will supply 5 million barrels of extra crude to its partners next month. [Oilpro]
Saudi Aramco Reports Record Production In 2015, As Kingdom's Market Share Push Grows Stronger. In its annual report, Saudi Aramco said it produced an average of 10.2 M/bpd of crude oil in 2015, a new all-time record, and up from 9.5 M/bpd in 2014. The company also reiterated its 12 M/bpd oil production capacity. [Oilpro]
Opec Forced To Accept New Reality On Oil Prices. Although oil prices briefly went above $50 per barrel this past week, the upcoming Opec meeting in Vienna on Thursday will provide no support for those who hope the organisation will finalize the production freeze which Saudi Arabia rejected in Doha. [thenational.ae, Oilpro]
Counterpoint: Oil Pessimists Exit Market as Supplies Seen Closer to Balance. The oil market doomsayers are beginning to capitulate. Speculators reduced bets on falling prices to the lowest level in 11 months as oil briefly breached $50 a barrel on signs supplies are coming into balance. [Bloomberg, Oilpro]
Suncor Starts Ramping Back Up. Suncor said Sunday it has begun a “staged restart” of operations near Fort McMurray. Canada’s largest crude-oil producer said it expects initial production to commence by the end of this week, noting startup activities had begun at its base plant and its MacKay River facility. [MarketWatch]
Carnarvon Acquires North West Shelf Acreage. Carnarvon Petroleum Ltd. has acquired 100% of WA-523-P and added another high quality asset to its projects on Australia’s North West Shelf. [Oilpro]
French Oil Worker Strike Extended. Workers at the CIM, an oil storage and supply services company which handles about 40 percent of French crude imports, have voted to extend their strike at Le Havre port until 1000 GMT on Wednesday, a CGT union official told Reuters. [Oilpro, Reuters]
Harvard Scientist Engineers Bacterium That Inhales CO2, Produces Energy. The Harvard chemist who gave us the artificial leaf has genetically engineered bacteria to absorb hydrogen and carbon dioxide and convert them into fuel alcohol. Now he reports the process converts sunlight ten times more efficiently than plants do. [Forbes, Oilpro]
Nigeria Plans Talks With Oil Region On Grievances, Continues Army Crackdown.Nigeria's president on Sunday said he would hold talks with leaders in the oil-producing Delta region to address their grievances in a bid to stop a surge in pipeline attacks, but that an army crackdown would continue. [Reuters]
World's Biggest LNG Buyer Becomes Seller as Gas Glut Builds. Japan's Jera Co., one of the world's largest buyers of LNG, agreed to sell the fuel to a unit of France's Electricite de France SA. Jera, a JV between Tokyo Electric Power Co. and Chubu Electric Power Co., will sell as much as 1.5 million metric tons of LNG between June 2018 and December 2020. [Bloomberg, Oilpro]
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来自/Your Oil and Gas News 5月31日消息 编译/张弘引石油圈原创www.oilsns.com
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Iran’s oil minister, BijanNamdarZanganeh, and his Indian counterpart signed a Memorandum of Understanding (MoU) on Farzad B field development planto be carried out by National Iranian Oil Company (NIOC) and Indian ONGC Videsh Ltd.
Under the MoU, the Indian side,as the head of a consortium, would propose its financial and operational method to Iran within two months,that is based on the seismic data of the exploratory studies conducted to finalize and draw a Master Development Plan (MDP) for the field.
Farzad B fieldis a hydrocarbon field, located in Farsi Block in the Persian Gulf, which is shared between Iran and Saudi Arabia.BesidesSouth Pars gas field, Farzad B is thesecond operational project of Pars Oil and Gas Company (POGC).
“According to initial negotiations and its agreements, the Indian consortium of the project would propose its financial conditions, investment method and the development plan to the Iranian side within two months,” said POGC Managing Director, Ali AkbarShabanpour. “Then after reaching the financial agreement, NIOC and ONGC Videsh will start talks over defining an MDP and a time schedule for theproject and accordingly sign a Heads of Agreement (HOA) once the commitments are realized.”
Advancement of negotiations and future contracts between the two companies would pave the ground for promoting long term cooperation of both countries.
The consortium of Farzad B gas field development plan, consisting of several Indian prominent companies, is headed by ONGC Videsh, India’s Oil and Natural Gas Corporation (ONGC) overseas investment arm. The consortium has conducted the exploratory and seismic studies of this offshore region under a contract with the National Iranian Oil Company.
Farzad B, located in Farsi Block, has 21.68 trillion cubic feet of in-situ reserves including 8.12 trillion cubic feet of natural gas and 212 million barrels of recoverable gas condensates and is among the large and commercial projects for development.
Most upstream companies in Indonesia are likely to reduce their workforce this year given sluggish oil prices, according to a survey conducted by PricewaterhouseCoopers (PwC) Indonesia, as reported Friday by local daily The Jakarta Post.
The survey revealed that 91 percent of the respondents expected employment in the oil and gas industry to fall in 2016 as low oil prices continued to weigh on the sector.
“Almost 75 percent of the respondents expect their company to reduce their expatriate workforce, with 53 percent expecting a decline in the number of local hires,” Sacha Winzenried, PwC Indonesia’s lead advisor for energy, utilities and mining, said in Jakarta Thursday, as quoted by The Jakarta Post.
PwC Indonesia noted that the industry downturn will curb future upstream spending, particularly for exploration, compared to previous years. Only half of those surveyed expected their companies to increase exploration activities globally and in Indonesia in the next three years.
According to data published on Indonesia's upstream regulator Special Task Force for Oil and Gas Business Activities (SKK Migas) website, there is an estimated 32,000 local oil and gas workers employed in the country's upstream petroleum sector.
Earlier this year, Chevron Pacific Indonesia, a unit of Chevron Corp., announced plans to lay off 25 percent or 1,500 of its 6,000 workers in the country in response to the global industry downturn.
Steel fabricator KKB Engineering Berhad's associate company OceanMight Sdn Bhd has received a letter of award from Talisman Malaysia Ltd. for the Bunga Pakma wellhead riser platform located offshore the east coast of Peninsular Malaysia, it said in a filing Thursday with local stock exchange Bursa Malaysia.
OceanMight's workscope covers the engineering, procurement and construction of the wellhead riser platform for the offshore Bunga Pakma field in Block PM-3 CAA, with completion date scheduled for the third quarter of 2017.
KKB did not reveal the contract amount for the Talisman project, but it forms part of a (MYR 87.8 million) deal, which include a purchase order from Sabah Electricity Sdn Bhd for the supply and delivery of steel high tension poles and a supply order from PPES Works-PCSB Joint Venture Proposed Interchange Kipali Project for the fabrication and supply of steel pipes & specials.
Talisman Malaysia is a unit of Spain's Repsol, which completes its acquisition of the former's parent company Talisman Energy in May 2015.
Parque das Conchas油田是Shell公司巴西海上的一个深水油田,Sulzer和FMC公司获得了升级该油田泵模块的水下多相提升泵合同。
该泵模块可满足高关井压力51.7MPa的要求,也符合Shell公司可靠性高维修期长的维护服务要求。
Parque das Conchas油田也被称为Shell BC-10油田,是位于巴西沿海城市Vitória东南大约120公里处的一个深水油田。该油田区域的水深在1500米到2000米间,由Shell公司负责运营,并占50%份额,而ONGC Videsh和Qata国际合资公司分别占27%和23%的份额。
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Sulzer and FMC Technologies have received a subsea multiphase boosting pump contract to upgrade one of the pumping modules in Shell’s Parque das Conchas, a deepwater field off the coast of Brazil.
The pump modifications suit the specifics of the field with a high shut-in pressure of 517 bar (7,500 psi). They meet Shell’s maintenance and service needs with high reliability and short turnaround intervention.
Parque das Conchas, also known as the Shell BC-10 field, is situated in deep water, approximately 120 km southeast of the Brazilian coastal city of Vitória. The BC-10 asset has water depths ranging from 1,500 m to 2,000 m. It is operated by Shell, with a 50% working interest. ONGC Videsh and Qatar Petroleum International are joint venture partners with 27% and 23%, respectively.
A key part of the success of the project has been the collaboration between Shell, FMC Technologies and Sulzer. The subsea pump will be manufactured from a global supply chain with a large amount of assembly and testing conducted at Sulzer’s facilities in the UK.
The advantage of the mudline pump is that it fits into an existing infrastructure with minor and cost-efficient modifications, yet is smaller and lighter than the pump it replaces. Smaller does not mean less performance: The pump achieves the necessary oil volume and boosting outputs.
This first subsea pump for Shell from FMC Technologies and Sulzer will be launched in the field in 2017. It will demonstrate the pump’s capability to maintain yield levels and achieve excellent reliability targets in the harsh deepsea environments.
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The Cypriot government will receive bids on July 22, under the latest round of licensing for offshore oil and natural-gas exploration and expects any agreements with companies to be struck by early next year, Energy Minister Georgios Lakkotrypis said.
The timetable concerns the third licensing round in Cyprus’s exclusive economic zone and relates to Blocks 6, 8 and 10. The Cypriot energy ministry announced the round in March, driven by Eni SpA’s discovery of a big gas field known as Zohr in Egyptian territorial waters just 6 km from Cyprus’s maritime border.
“The reason we went ahead is exactly because we saw very strong interest from companies,” Lakkotrypis told reporters on Thursday in Brussels. “We anticipate that, should we go ahead with licensing, we will conclude that by the beginning of 2017.”
Seeking to become an energy hub in the eastern Mediterranean Sea, Cyprus is pursuing a campaign that began in 2007 with an initial offshore licensing round and expanded in 2012 with a second round. Five exploration and production sharing contracts are currently in place with companies including U.S.-based Noble Energy Inc., which has found the biggest offshore Cypriot gas field known as Aphrodite in Block 12.
Lakkotrypis said that Cyprus intends to open another licensing round for the parts of Block 12 outside the Aphrodite field that Noble and its partners, which include Israel-based Delek Group Ltd., have returned to the government as the contract stipulates.
Because Zohr marked the first time that gas had been found in carbonate rocks in the eastern Mediterranean rather than in porous sands, it offers the hope that searches with the different geological focus will produce more finds in Block 12 as well as discoveries in Blocks 6, 8 and 10.
“Block 12 will be made available for a next licensing round,” Lakkotrypis said. “We haven’t determined when.”
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Saudi Arabian Oil Co., the world’s largest crude exporter, increased production to an all-time high last year while keeping its reserves unchanged as the kingdom battles for market share.
Saudi Aramco, as the state-owned company is known, produced 10.2 MMbopd in 2015, up from 9.5 MMbopd in 2014, according to an annual review posted on its website Thursday. Natural gas output rose to 11.6 Bscfd from 11.3 Bscfd. The company discovered two gas fields and three oil deposits last year, compared with five gas fields and three oil deposits in 2014.
“Expanding oil and gas supplies to meet the needs of domestic and international markets is at the core of Saudi Aramco’s business, and in 2015 the company delivered on its commitments, reaching record levels of oil production and gas processing,” Chairman Khalid Al-Falih said in the review.
Saudi Arabia’s rising production, along with increased output from shale plays in the U.S. last year, exacerbated a global supply glut that drove down benchmark prices by more than 30% in 2015.
Market Share
OPEC, led by Saudi Arabia, chose in November 2014 to keep pumping crude to protect its share of the market rather than cutting output to boost prices. Last month, the Organization of Petroleum Exporting Countries and other major producers including Russia failed to reach an agreement over a proposal to freeze output to shore up prices after Saudi Arabia insisted that it couldn’t sign up to a deal without the participation of Iran, which has pledged to boost its own oil output to pre-sanctions levels before considering a cap.
The Saudi company’s oil reserves were unchanged at 261.1 Bbbl, while reserves of gas increased to 297.6 Tscf from 294 Tscf. The company said it maintains an oil-production capacity of 12 MMbpd.
Saudi Aramco is undergoing a major transformation that will include selling less than 5% of its shares to the public by the end of 2018. The company’s restructuring plan will be announced within six months, Deputy Crown Prince Mohammed bin Salman said in an interview in Riyadh on April 15. After the IPO, Saudi Aramco will become a holding company that is not involved in the daily management of its subsidiaries, he said.
More Exports
The company exported 2.6 Bbbl of crude in 2015, or 7.1 MMbpd, up from 2.54 Bbbl in 2014.
Saudi Aramco’s exports to major Asian markets increased "substantially" last year from a year earlier, with shipments to India jumping 18%. Exports to China grew 4.5%. The company said it was able to maintain the same level of exports to U.S. market at 1 MMbpd "despite competition from shale oil."
The operation of new local refineries helped Saudi Aramco’s exports of petroleum products to increase by 38%.
Refining Capacity
Saudi Aramco’s fully-owned oil-refining capacity was 3.1 MMbpd at the end of last year, the same as in 2014, according to the report. The company’s total refining capacity was at 5.4 MMbpd in 2015. Saudi Aramco is seeking to double its refining capacity to between 8 MMbpd and 10 MMbpd, CEO Amin Nasser said in a March 9 interview.
Saudi Aramco said in the review that it’s expanding its Rabigh Refining & Petrochemical venture with Sumitomo Chemical Co. The second phase of the project will increase the production capacity of the ethane cracker, add a new world-scale aromatics complex and create 22 process plants. The project will start commissioning in mid-2016.
Last year, Saudi Aramco began exploring the development of a chemicals complex to be integrated with its SATORP joint venture with Total SA, it said in the review.
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Reliance Industries Ltd. is preparing to restart work in four offshore oil and gas blocks, including one of India’s biggest natural gas discoveries, as it seeks to revive development activity stalled for seven years by disputes with the government, according to people with knowledge of the plan.
Reliance has held meetings with oilfield-services companies to discuss the projects, which it aims to begin by December 2017, said the people, who asked not to be identified as the information isn’t public. The company plans to drill 21 wells in four offshore areas, including the deepwater KG-D6 Block in the Bay of Bengal, the people said.
Reliance is partners with BP and Niko Resources for the KG-D6 Block. The Indian refiner and Niko didn’t immediately respond to requests for comment.
“We continue to progress activities with our partners, building on our successful cooperation in technology, operations, and subsurface techniques in deep water exploration and production,” a BP India spokeswoman said in an emailed statement.
The company aims to initially focus on parts of the KG-D6 Block known as the R-Cluster, Satellite and MJ discoveries, according to the people. It plans to finalize the investment and work plan by the end of this year, they said.
Reliance rose 3%, the most in more than three months, to 974.70 rupees at the close in Mumbai on Friday. The benchmark S&P BSE Sensex rose 1.1%.
Output Falls
Production from the D6 Block in the Krishna Godavari basin off the country’s east coast, discovered in 2002, has fallen 85% to 9 MMscmd, according to the company’s website. The company has continued with offshore exploration activities, while pausing development drilling as it has been locked in disputes with the government over gas prices and cost recovery.
Reliance and BP intend to withdraw from multiple arbitration proceedings against the government related to KG-D6, at least one dating back to 2011, people with knowledge of the plan said earlier this week. Ending the disputes is a requirement for the companies to receive higher prices available through a government policy revision in March to encourage development of deepwater fields.
Oil Minister Dharmendra Pradhan said the new policy is expected to boost gas output by 35 MMscmd and unshackle projects worth 1.8 trillion rupees ($27 billion). These include two blocks held by Reliance with total estimated reserves of 2.53 Tcf, according to an oil ministry presentation on March 10.
Development Plan
Niko said in April 2015 that the MJ discoveries have gross contingent resources of 1.4 Tcf. Reliance’s development plan for R-Cluster was approved by the government in August 2013.
Reliance owns stakes in seven offshore blocks in India, and is a partner with BP in four of those. Reliance holds 60% in KG-D6 and NEC-OSN-97/2, with BP holding 30% and Niko the remaining. Reliance owns a 70% stake in two more blocks, CY-DWN-2001/2 and CB-ONN-2003/1, with BP holding the rest.
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Sasol’s field development plan in Inhambane province in Mozambique has reached an important milestone with the commencement of the drilling of the first well, the company said.
The spud marks the beginning of the drilling campaign, which is part of the first phase of the field development plan which includes the delineation and initial development of the Temane G8, Temane East, Inhassoro G6 and Inhassoro G10 reservoirs.
Thirteen production wells will be drilled (including a water disposal well) during this initial phase, while oil and LPG production facilities will be installed close to the existing Central Processing Facility (CPF).
A fifth gas processing train will be installed at the CPF to process the additional gas.
“The spud of the first well in the PSA licence area reaffirms Mozambique as the heartland of Sasol’s oil and gas strategy in sub-Saharan Africa and provides a platform from which to drive socio-economic growth,” said John Sichinga, Sasol senior vice president.
Mozambique’s Council of Ministers approved the PSA FDP in January this year. Shortly thereafter, Sasol commissioned a drilling rig from French-based drilling contractor Société de Maintenance Pétrolière which arrived in Maputo port on 19 March.
The phased development plan envisages the development of further hydrocarbon resources that will help to drive the growth of both Mozambique and Southern Africa.
This first phase of the development is anticipated to cost approximately $1.4 billion.
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BP has awarded a multi-million dollar topside maintenance contract to Actemium for its two FPSOs in Angola.
The oil and gas division of Birmingham-based Actemium, the Vinci Energies brand dedicated to industrial processes is the first of its kind for BP’s Angolan operations.
The two asset deal will see Actemium become the key topsides maintenance provider for the Greater Plutonio (Block 18) and PSVM (Block 31).
Under the five-year contract, Actemium will deliver onshore and offshore maintenance support services to the two assets, with scope for additional ad-hoc services to support the operations. The work will be executed through Actemium’s Angolan offices and the Paris maintenance centre of expertise.
The project is the first for the company with BP in Africa. It has provided services for FPSOs in the region such as Exxon Mobil’s USAN FPSO in Nigeria and Total’s Girassol FPSO in Angola. The company has African expertise with offices in Cameroon, Nigeria, Algeria and the Democratic Republic of Congo.
“Actemium is already a strong player in Africa, especially in Angola, where we have been present for nearly 16 years,” commented Jimmy Neron, commercial director for Vinci Energies Oil and Gas.
“However, our new agreement with BP represents an important milestone for Actemium in Africa. We look forward to working closely with BP as we combine our leading capabilities, know-how and experience.”
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Republican presidential nominee Donald Trump said he'd end U.S. oil imports from OPEC and approve Keystone XL, though critics said he knows little about energy.
Trump was the keynote speaker Thursday at a petroleum conference in North Dakota, the No. 2 oil producer in the United States. The economy for North Dakota is under pressure from declines in the crude oil market, with production from the Bakken shale basin down almost 10 percent from its peak in December 2014.
Trump in his prepared remarks said his presidency would remove obstacles standing in the way of further exploration. The state rig count for Friday of 29 is 65 percent lower than this date last year, though slightly above the number reported earlier this week.
"Any market has ups and downs, but lifting draconian barriers will ensure that we are no longer at the mercy of global markets," the nominee said.
The head of a North Dakota oil and gas commission has been critical of policies enacted by the Bureau of Land Management and the Environmental Protection Agency, an agency Trump said he'd dismantle if elected.
A surplus in crude oil, brought on in part by higher U.S. production, sent oil prices tumbling below the $100 per barrel mark in 2014. A rally in 2016 was supported by proposals from some members of the Organization of Petroleum Exporting Countries to hold production static, though that move unraveled because Iran said it wanted to regain a market share lost to sanctions.
In his remarks, Trump said the United States would become "totally independent" from OPEC, while at the same time working with allies in the Middle East to develop a "positive energy relationship as part of our anti-terrorism strategy."
Seven of the top 10 oil exporters to the United States are members of OPEC, accounting for more than 45 percent of the total. Canada is the No. 1 oil exporter to the United States and Trump said that, if elected, he'd sign the permits needed to build the cross-border Keystone XL oil pipeline, which Washington rejected largely on environmental grounds.
Trump clinched the nomination during his trip to North Dakota, though few official statements emerged in support of his policies after his speech in Bismark. When pressed for a comment, the American Petroelum Institute pointed to the broad energy platform it's advocating for whoever takes office, saying only that energy is its primary candidate.
Michael Brune, the executive director of the Sierra Club, said Trump's speech highlighted a basic lack of understanding about energy policy.
"There are open pools of oil and drilling wastewater in North Dakota right now that are deeper than Trump's understanding of energy issues," he said in a statement.
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North Dakota是继Texas后美国第二大的原油生产地,Bakken页岩油田也位于该地区,North Dakota地区超过90%的原油产自该地区。
周四在Williston页岩油会议上Trump发表了主题演说,在竞选方面他并没有提出正式的能源政策。三月份在接受New York Times杂志的采访时,他表示如果Riyadh政府不愿为对抗Islamic国恐怖组织提供帮助,美国将不再从Saudi Arabia地区进口原油。
Saudi Arabia是继Canada后美国的第二大原油进口国,受Alberta地区大火的影响,Canada原油产量下降,四周以来美国从Saudi进口的原油量增加了10%。一位能源分析师在三月份的一次采访中表示如果不从Saudi进口原油,美国的石油公司或者是每月增加3600万桶的产量或者是寻求其他的供应商。
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Republican presidential candidate Donald Trump delivers the keynote address Thursday at a petroleum conference in North Dakota, the schedule shows.
Trump is the last man standing for the Republican Party's bid to reclaim the White House after two terms of Democratic control under President Barack Obama. During his tenure, Obama has embraced an "all-of-the-above" energy policy that saw the United States march closer to its first-ever commercial offshore wind farms while at the same time moving to become a top world oil producer.
North Dakota is the No. 2 oil producer in the nation, behind Texas, and is home to the Bakken shale oil reserve area. More than 90 percent of the oil production in North Dakota comes from that region.
Trump delivers the keynote address Thursday at the Williston Basin Petroleum Conference. Trump offers no formal energy policy on his list of campaign priorities. In a March interview with the New York Times, the presumptive Republican nominee for president said he'd cut imports of oil from Saudi Arabia if the government of Riyadh was unwilling to help lead a ground effort against the Islamic State terror group.
Saudi Arabia is the No. 2 exporter of crude oil to the United States, behind Canada. With Canadian oil production down because of wildfires in Alberta, the four-week moving average for Saudi oil imports into the United States is up 10 percent. Energy analysts who spoke in the wake of the March interview said that, without Saudi oil, U.S. oil companies would either need to increase production by as much as 36 million barrels per month to make up the difference, or find another supplier.
North Dakota oil production, meanwhile, dropped about a full percentage point over the course of a month because of lingering market pressures. The number of rigs working in North Dakota shale broke a record low set in July 2005 earlier this week.
In early May, North Dakota Gov. Jack Dalrymple called for a state budget that was about 90 percent of the 2015-17 appropriation. Tax revenues are falling short and the budget situation in the state is much different than it was two years ago when oil was selling for more than $100 per barrel, he said.
A consortium of leaders from the environmental community were critical of Trump's energy policies, noting he's consistently moved behind the oil and gas industry and ignored climate issues. On the campaign trail, they said, he's already pledged to dismantle the Environmental Protection Agency.
"Donald Trump's energy policies would hurt our country's economy, health, safety, and security," NextGen Climate President Tom Steyer said in a statement. "The Trump agenda is only going to make America great again for corporate polluters, which is why Americans need to come together to defeat him -- and his Republican allies -- in November.
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Texas oil production for March was up 1 percent from the previous month, state data show, as crude oil prices staged a sustained recovery.
The Railroad Commission of Texas, the state energy regulator, reported preliminary crude oil and condensate production figures for March at 87.8 million barrels, a 1.1 percent gain from the previous month. Year-on-year, the daily crude oil production rate of 2.5 million bpd for March was up 8.6 percent.
Crude oil prices rallied 7 percent in March, which may give energy companies in Texas more incentive to produce. The rig count, a loose barometer used to gauge the health of the industry, remains in decline, however.
Texas is the No. 1 oil producer in the United States and its rig count represents roughly 45 percent of all activity in the country.
Analysis group Wood Mackenzie said in early May that energy companies working in the Eagle Ford shale basin in Texas may be acclimating to the lower price of crude oil, down about 18 percent last year. Information reported by Fuel Fix, an energy site for the Houston Chronicle, shows Texas producers could break even with oil at around $41 per barrel by next year.
So far this year, more than 5,000 people have lost their job in Houston, where many energy companies have their U.S. headquarters, because of the market downturn. The Federal Reserve Bank of Dallas said the state economy was damaged by the downturn, with sectors outside of energy starting to feel the impacts.
Keith Phillips, a senior economist with the bank, said there's little chance, however, of a formal recession for Texas. A metric created by the bank, the Texas Business Cycle Index, finds that, overall, the state economy is expanding.
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Maersk Drilling said Friday it acquired a rig designed for harsh environments from struggling rival Hercules Offshore for deployment in the North Sea.
Maersk entered into an agreement with a Hercules subsidiary to acquire the harsh environment jack-up rig Hercules Highlander. The rig will move immediately from its shipyard in Singapore to start a five-year drilling program in the North Sea in a deal with BP and Japanese company JX Nippon.
For Maersk, the addition gives it a running start with a rig already covered under a five-year contract. It enters the company's fleet under the name Maersk Highlander.
Hercules filed for bankruptcy in the midst of the crude oil market downturn, only to re-emerge in November facing additional financial pressures. John Rynd, the president and CEO of the company, said the recovery in crude oil prices toward $50 per barrel was encouraging, but it hasn't yet translated into an improvement in business prospects.
Hercules had a series of rig contracts suspended as lower crude oil prices during the first quarter left its customers with less capital to invest in exploration and productive activity.
Maersk sends the Highlander rig to the Culzean natural gas field off the British coast. The Culzean gas field was discovered in 2008 and its peak production of an average 75,000 barrels of oil equivalent is enough to meet 5 percent of British gas demand.
The company said Culzean field is the largest discovered in the region in more than a decade.
Acquisition terms weren't disclosed and there was no public comment issued by Hercules.
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A militant group in the Niger Delta said it targeted a Chevron pipeline in the region after the company failed to heed a warning issued in mid-May.
We Warned #Chevron but they didn't Listen. @ND Avengers just blow up the Escravos tank farm Main Electricity Feed PipeLine.
In a May 12 statement, the Nigerian militant group warned Chevron that it should be wary of working in the region because, while the government and international oil companies work to exploit the reserves, the people in the region are left "to rot."
"We are coming for you," spokesperson Mudoch Agbinibo said at the time.
The group in a manifesto released earlier this month warned oil companies the attacks on their infrastructure was "just the beginning." The Niger Delta Avengers said it was frustrated by what it saw as a lack of attention to the region paid by Nigerian President Muhammadu Buhari.
Nigeria's oil-dependent economy has struggled under the strains that have emerged since crude oil prices first dropped below the $100 per barrel mark in 2014. The International Monetary Fund warned the impact of lower oil prices were adding to pressure from an economy in need of deep structural reforms. From the pressure of oil prices alone, the government's deficit doubled to about 3 percent of the gross domestic product last year.
A country profile from the U.S. Energy Information Administration said Nigerian production peaked at 2.4 million bpd in 2005, and activity since then has been curbed in part by violence in the Niger Delta region that forced many energy companies to evacuate their staff.
Concerns about the lack of crude oil supplies in recent weeks pushed the price of oil higher. Brent and West Texas Intermediate, the two primary benchmarks for the price of oil, both breached $50 per barrel in early trading Thursday in part because of supply disruptions in Nigeria.
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Oil services company Baker Hughes said structural and leadership changes were made in a way that it said could help simplify operations and lower costs.
The company announced plans in the wake of a collapsed deal to merge with rival Halliburton to chart a course toward simplification. The steps, said Baker Hughes, are designed to build on its competitive position in the services sector and return value to shareholders.
Baker Hughes now said it will consolidate its regional operations structure into one global entity that will deliver "strong operating profits." Richard Williams, who served previously as the president of North American operations, will steer the momentum forward in a way that won't disrupt customer commitments, the company said.
"These changes to our organizational design and leadership team demonstrate that we are moving quickly and decisively to execute on the strategy we outlined earlier this month," Chairman and CEO Martin Craighead said in a statement. "While we have more hard work ahead of us, the entire Baker Hughes team is committed to building on our strong foundation."
Halliburton and Baker Hughes unveiled plans to join forces in late 2014 as lower crude oil prices started to spill over into the economics of the upstream, or exploration and production, side of the energy sector.
The U.S. Justice Department in early April said the proposed merger of the two companies would be unprecedented in its "scope of competitive overlaps and antitrust issues."
Companies like Baker Hughes, which provide services to support exploration and production of oil and natural gas, have faced financial difficulties because of the low price of crude oil. Energy companies are spending less on exploration and production and, last week, Baker Hughes reported a net loss of 40 rigs worldwide in the number of rigs in service.
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