Total Makes a New Gas and Condensates Discovery in the North Sea

Total, Operator, and its partners have made an encouraging discovery with the Isabella 30/12d-11 well on the license P1820, located in the Central North Sea offshore UK, about 40 kms south of the Elgin-Franklin field and 170 kms east of Aberdeen. The well was drilled in a water depth of about 80 meters and encountered 64 meters net pay of lean gas and condensate and high-quality light oil, in Upper Jurassic and Triassic sandstone reservoirs....

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Forcing regime change in Venezuela

US attempts to force regime change in Venezuela continues despite the huge humanitarian crisis it is causing. The sanctions on the Maduro government have been absolutely crippling with oil output down from 2.5mmbbl/d down to sub-1mmbbl/d and falling - due to inability to invest to maintain production, striking PDVSA staff with pay uncertainty, inexperienced generals taking over and running over PDVSA as well and shrinking importer base for its crude. On this note, the situation is worsened with the US' latest sanctions of Russian Rosneft which...

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Lest we forget

With coverage of Iranian tensions diminishing and more recently overshadowed by COVID-19, we review the likely direction of travel in light of recent events. On 23rd February 2020, the country held its 11th parliamentary elections with Conservatives securing all 30 parliamentary seats in Tehran and winning control overt most branches of the State. This will continue the Conservatives run in parliament but does set the stage for a more extreme Presedential candidate from the Iranian Revolutionary Guards to win in 2021. The country has been drastically...

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Premier announces landmark acquisitions with BP and Dana for USD816 million

Premier announced the below this morning. Premier is pleased to announce the proposed acquisitions of the Andrew Area and Shearwater assets from BP for US$625 million, and an additional 25 per cent. interest in the Premier operated Tolmount Area from Dana for US$191 million plus contingent payments of up to US$55 million (together the “Acquisitions”). Premier is also pleased to announce the proposed extension of its existing credit facilities...

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Cameron LNG Liquefaction-Export Facility Begins Production At Train 2

Press release as follows: Sempra LNG, a subsidiary of Sempra Energy, today announced that Cameron LNG has begun producing liquefied natural gas (LNG) from the second liquefaction train of the export facility in Hackberry, Louisiana.   "We are pleased to reach this important milestone in the development of the liquefaction facility," said Lisa Glatch, chief operating officer of Sempra LNG and board chair for Cameron LNG. Train 2 and...

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McDermott, Chiyoda and Zachry Group Announce First Cargo from Freeport LNG Train 2

First cargo of liquefied natural gas shipped from Train 2 of the Freeport LNG project Project team maintains a continuous focus on safety and quality Accomplishment is a precursor to substantial completion of Train 2 Below is the full press release from McDermott HOUSTON, Dec. 18, 2019 McDermott International, Inc. along with its partners, Chiyoda International Corporation and Zachry Group, announced today that the first commissioning cargo of liquefied natural gas (LNG) has been shipped from Train 2 of the Freeport LNG project on Quintana...

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Cheniere: Innovative deal structuring on Corpus Christi

This year saw one of the first innovative upstream gas supply deals for a US Gulf Coast liquefaction plant. In June, Cheniere had signed a long term gas supply agreement with Apache for its Corpus Christi Stage III trains. The Corpus Christi Stage III project is being developed to include up to seven midscale liquefaction trains with a total expected nominal production capacity of approximately 9.5mtpa. The supply agreement will be for gas volumes of 15mmbtu/day, delivered to Corpus Christi, and more importantly Apache will receive a gas price...

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