February's top stories: 25 killed at Pemex HQ explosion

In Mexico, Pemex's HQ was rocked by an explosion that killed 25 people, meanwhile Greece, Italy and Albania signed an agreement to support the Trans Adriatic Pipeline project and Gran Tierra Energy started production in Peru. Hydrocarbons-technology.com wraps up the key headlines from February 2013.


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Huge explosion rocks Pemex HQ in Mexico; kills 25 people

Pemex

A huge and deadly explosion rocked the headquarters of Petroleos Mexicanos (Pemex) in Mexico in February, which has reportedly killed 25 people and injured more than 100 people.

Fire-fighters and rescue workers searched for employees who were feared trapped in a basement floor of the building, by digging out huge chunks of concrete and twisted steel.

Mexican Interior Minister Miguel Angel Osorio Chong said in a televised news conference that the investigation had started in to the blast that rocked the administrative building near the firm's main tower.

Tethys Petroleum increases gas price in Kazakhstan

Tethys_Pet

British Isles-based oil and gas exploration and production company Tethys Petroleum announced that it had doubled the net selling price of gas in Kazakhstan.

The revised gas price, after marketing and distribution costs, is $65 ($72 after VAT is included) per 1,000 cubic metres.

Tethys said the previous price was $32, including VAT, for oil from the Kyzyloi and Akkulka Fields.

BP divests Texas City refinery to Marathon Petroleum for $2.4bn

BP_station

Global oil and gas giant BP announced that it had completed the sale of its Texas refinery and a portion of its retail and logistics network in the south-east US to Marathon Petroleum, for an estimated $2.4bn.

The transaction includes about $0.6bn in cash, $1.1bn for the estimated value of hydrocarbon inventory and an earn-out arrangement of $0.7bn, which is payable over six years.

As part of the deal, Marathon Petroleum will take ownership of the 475,000 barrel per day refinery and the associated cogeneration plant and natural gas liquids pipelines.

Summit Power, Linde Group to capture CO2 from oil fields

Summit Power Group and The Linde Group

US-based Summit Power Group and The Linde Group last month joined forces to develop commercial-scale natural gas-fired power plants, to capture CO2 in depleting oilfields.

The new power plants will capture about 90% of CO2, which would otherwise have been discharged into the environment, by using natural gas-fired power plant technology and carbon capture technology.

In many US oilfield locations the volume of CO2 captured from a typical natural gas-fired power plant can also be used to produce an additional 1.5 to 2.5 million barrels of oil per year.

Greece, Italy, Albania to support Trans Adriatic Pipeline project

Greece, Italy and Albania

Greece, Italy and Albania signed a tri-lateral intergovernmental agreement (IGA) with the aim of providing full support for the Trans Adriatic Pipeline (TAP) project in February.

The IGA, which was signed by the three countries at the Ministry of Foreign Affairs in Athens, Greece, will boost the development, construction and operation of the TAP project.

As a part of the framework of the Community Treaties and the Energy Community Treaty, the agreement will ensure timely delivery and efficient operation of the TAP.

Australia's multibillion dollar projects boost Asia Pacific oil and gas

Australia

Multibillion dollar projects in Australia have boosted the oil and gas industry in the Asia Pacific region, despite slowdown in the global economy, according to a report released by GL Noble Denton.

The report, 'Seismic Shifts: The outlook for the oil and gas industry in 2013', was released at the Australasian Oil & Gas Exhibition & Conference (AOG) 2013.

The report was compiled from inputs of more than 400 senior oil and gas professionals, including in-depth interviews with 20 industry executives.

Gran Tierra Energy begins production at exploration well in Peru

Gran Tierra Energy

Canada-based oil and gas company Gran Tierra Energy completed initial testing at the Vivian Formation sandstone reservoir in the BretaƱa Norte 95-2-1XD exploration well in Peru.

The oil-bearing sandstone reservoir has been detected by log interpretations and MDT fluid and pressure sampling in the Vivian Formation, which started flowing at 9,408ft measured depth (MD) or 8,851ft true vertical depth.

It has gross oil column thickness of about 99ft and 53ft net pay thickness, while oil samples have a gravity of 18.5 degrees API, according to laboratory analysis.

Americas Petrogas finds light oil in exploration well in Argentina

Americas Petrogas

Americas Petrogas said that it had found light oil in the LHo.x-1, located in the south-western region of the Neuquen Basin, Argentina.

The well was drilled and oil production potential from the Vaca Muerta Shale of the Picun Leufu sub-basin confirmed.

The well is located near the company's other three southernmost blocks, namely Totoral, Yerba Buena and Bajada Colorada, which covers a combined area of about 1,126,600 acres.

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