- Oil & Gas Journal

ConocoPhillips is enacting two Asia-Pacific transactions aimed at lowering its aggregate decline rate and diversifying its product mix, the company said in a release Dec. 8.

Equinor Energy AS and Sval Energi AS agreed to acquire the Norwegian business of Spirit Energy in separate deals valued at $1.076 billion.

Prominence Energy signed a binding term sheet to acquire a 12.5% share in Western Gas, which operates the Equus gas project and adjoining permit containing the Sasanof gas prospect offshore Western Australia.

Abu Dhabi Polymers Co. Ltd., (Borouge), has let a series of major contracts for the recently approved fourth expansion of Borouge’s integrated polyolefins complex in Ruwais, about 250 km west of Abu Dhabi City, UAE.

The US Energy Information Administration (EIA)’s December Short-Term Energy Outlook (STEO) remains subject to heightened levels of uncertainty related to the ongoing recovery from the COVID-19 pandemic.

Siccar Point Energy E&P will review options for development of Cambo oil and gas field in the West of Shetlands area off the UK following partner Shell UK Ltd.’s decision not to progress its investment, the operator said in a release Dec. 3.

TotalEnergies, together with the Angolan National Oil, Gas and Biofuels Agency, started production of CLOV Phase 2, a project connected to the existing CLOV floating production, storage and offloading unit.

Neptune Energy let a decommissioning contract to Maersk Supply Service (MSS) for Juliet field in the UK Southern North Sea.

The energy giant expects Permian production to grow 90% from last year’s levels.

Petrobras has completed the sale of its 333,000-b/d Refinaria Landulpho Alves refinery in São Francisco do Conde in the Recôncavo Baiano region of Bahia, Brazil.

US shale expenditure is projected to surge 19.4% next year, up from an expected $69.8 billion in 2021 to $83.4 billion, the highest level since the onset of the COVID-19 pandemic, according to Rystad Energy.

Oseberg area partners submitted an amended plan for development and operation to the Norwegian authorities that aims to reduce CO2 emissions from Equinor-operated Oseberg field center and the Oseberg South platform while increasing gas production.

EOG Resources Inc. plans its first move into Australia following completion of the acquisition of Western Australian Bonaparte Gulf permit WA-488-P containing the Beehive prospect from Melbana Energy Ltd., Sydney.

Calgary-based Parkland is pausing processing activities at a subsidiary's refinery on Burrard Inlet in North Burnaby, near North Vancouver, BC, amid feedstock supply disruptions caused by the ongoing shutdown of the Trans Mountain crude oil pipeline.

Equinor Energy AS and partners have let contracts worth 5 billion kroner to Aibel for work at Krafla, Gina Krog, Asterix, and Gassco at Kårstø.

LUKOIL discovered an oil field within the Yoti West structure at Block 12 offshore Mexico. The field was discovered after drilling the first exploration well. Preliminary estimates put initial oil in place at 250 million bbl.

Woodfibre LNG Ltd. has signed an engineering, procurement, fabrication, and construction contract with McDermott International.

President Biden has directed the Energy Dept. to release 50 million bbl from the Strategic Petroleum Reserve to tamp down oil prices after weeks of political argument and criticism over inflation.

Gas2Grid Ltd., Sydney, agreed terms with Armour Energy Ltd., Brisbane, to farm into a parcel of acreage in Armour’s permits in the Surat basin of southeast Queensland.

Supply chain costs of US oil and gas projects will increase in coming years, Rystad Energy forecasts. Among them, the engineering, procurement, construction, and installation segment is set to be the first to experience double-digit cost growth.

Thai Oil PLC has let a contract to a division of Godrej & Boyce Manufacturing to supply critical equipment for the operator’s ongoing Clean Fuel Project at its 276,000-b/d refinery at Sriracha, in eastern Thailand’s Chonburi province.

The National Reserve Bureau of China plans to release crude oil volumes from its Strategic Petroleum Reserve (SPR). Details will be disclosed on its website.

Rosneft Deutschland has exercised its preemption right to purchase Shell Deutschland Oil GMBH’s 37.5% minority interest in PCK Raffinerie GMBH's 220,000-b/d refinery in Schwedt, Germany.

Neste Corp. will receive funding from the EU Innovation Fund to implement a renewable hydrogen and CCS project at its 206,000-b/d refinery in the Kilpilahti industrial area of Porvoo, Finland.

The US Bureau of Ocean Energy Management reported that its region-wide Gulf of Mexico Lease Sale 257 received 317 bids from 33 companies on 308 of the 15,148 blocks offered.