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EIA expects 2019 summer average U.S. residential electricity use to be lowest in five years

EIA expects 2019 summer average U.S. residential electricity use to be lowest in five years

April 18, 2019 No Comments

EIA’s Short-Term Energy Outlook forecasts that the typical U.S. residential household will consume about 3,080 kilowatthours of electricity this summer (June through August), down 5% from the average summer consumption in 2018. If this forecast is realized, it would be the lowest level of electricity consumption per customer since 2014 and the second-lowest level since […]

Bill allowing U.S. to sue OPEC moves forward

Bill allowing U.S. to sue OPEC moves forward

February 11, 2019 No Comments

Legislation that would allow the U.S. government to sue OPEC for inflating oil prices cleared a key hurdle in the new session of Congress. The House Judiciary Committee, now led by Democrats, advanced the “No Oil Producing and Exporting Cartels Act” Thursday. That sets the bipartisan “NOPEC” bill, which would subject the cartel to possible […]

TechnipFMC Awarded ExxonMobil Refinery Expansion Project Contract

TechnipFMC Awarded ExxonMobil Refinery Expansion Project Contract

January 31, 2019 No Comments

TechnipFMC (NYSE:FTI) (PARIS:FTI) has been awarded a large (contract ranges between $500 million and $1 billion) reimbursable contract by ExxonMobil for detailed engineering, procurement, and construction for the recently announced crude expansion project in Beaumont, Texas, USA. The awarded scope covers the addition of four new units – atmospheric pipe still, kerosene hydrotreater, diesel hydrotreater […]

Chevron Announces First Oil From Big Foot Project in the Deepwater GoM

Chevron Announces First Oil From Big Foot Project in the Deepwater GoM

November 22, 2018 No Comments

Chevron Corporation (NYSE:CVX) announced that the Chevron-operated Big Foot deepwater project, located in the U.S. Gulf of Mexico, has started crude oil and natural gas production. The field is located approximately 225 miles (360 km) south of New Orleans, La., in a water depth of approximately 5,200 feet (1,584 m.). The Big Foot field was […]

Steven W. Green Named President of Chevron North America E&P

Steven W. Green Named President of Chevron North America E&P

November 6, 2018 No Comments

Chevron Corporation (NYSE:CVX) today named Steven W. Green president of Chevron North America Exploration and Production, effective March 1, 2019. Green, 61, succeeds Jeff Shellebarger, who is retiring from Chevron after 38 years of distinguished service. Green, who is currently president of Chevron Asia Pacific Exploration and Production, will oversee Chevron’s exploration and production activities […]

Producers react favorably to U.S.-Mexico-Canada Agreement

Producers react favorably to U.S.-Mexico-Canada Agreement

November 6, 2018 No Comments

Agricultural producer sentiment rebounded in October, according to the Purdue University/CME Group Ag Economy Barometer. The October barometer reading of 136 was 22 points higher than September, which was the lowest reading for the survey since 2016. The barometer is based on a survey of 400 agricultural producers from across the country. The sentiment improved […]

BP completes purchase of BHP assets in US onshore

BP completes purchase of BHP assets in US onshore

November 1, 2018 No Comments

BP has completed the $10.5 billion acquisition of BHP’s U.S. unconventional assets in a landmark deal that will significantly upgrade BP’s U.S. onshore oil and gas portfolio and help drive long-term growth. The acquisition – which was announced in July and closed as scheduled on October 31– adds oil and gas production of 190,000 barrels […]

Saudi Aramco promotes small and medium enterprise investment in Saudi Arabia

Saudi Aramco promotes small and medium enterprise investment in Saudi Arabia

October 3, 2018 No Comments

Saudi Aramco participated in the U.S.-Saudi Arabian Business Council’s (USSABC) premier U.S.-Saudi SME Forum in Los Angeles, adding momentum to ongoing efforts by the integrated energy and chemicals giant to develop a locally accessible, reliable and innovative supply chain. Senior Vice President of Technical Services Ahmad A. Al-Saadi was a keynote speaker at the forum […]

Cenovus signs rail deals to transport oil to U.S. Gulf Coast

Cenovus signs rail deals to transport oil to U.S. Gulf Coast

September 27, 2018 No Comments

Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has signed three-year deals with major rail companies to transport approximately 100,000 barrels per day (bbls/d) of heavy crude oil from northern Alberta to various destinations on the U.S. Gulf Coast. The agreements involve moving oil with CN from Cenovus’s Bruderheim Energy Terminal starting in the fourth quarter […]

CME Group to Launch Physical WTI Houston Crude Oil Futures Contract

CME Group to Launch Physical WTI Houston Crude Oil Futures Contract

September 24, 2018 No Comments

Suppliers, refiners and end users of U.S. crude oil will have a new way to price and hedge WTI light sweet crude oil in Houston beginning in Q4 2018. CME Group, the world’s leading and most diverse derivatives marketplace, will offer a new WTI Houston Crude Oil futures contract with three physical delivery locations on […]

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