February’s top news stories

Adnoc planned to invest $3.1bn into Ruwais oil refinery modification project

Abu Dhabi National Oil Company (Adnoc) unveiled plans to invest $3.1bn in Ruwais oil refinery to introduce crude processing flexibility.

The proposed crude flexibility project (CFP) is part of Adnoc’s move to fast track delivery of its downstream refining strategy.

The strategy will enable the company to leverage crude and product marketing initiatives in order to enhance margins.

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Oneok made plans to expand natural gas infrastructure in US with $2.3bn investment

Oneok unveiled plans to invest around $2.3bn through to 2020 on additional natural gas infrastructure projects in the US.

The proposed projects comprise the new 530-mile Arbuckle II Pipeline that has the capacity to transport 400,000 barrels per day (bpd) unfractionated natural gas liquids (NGL) between Oneok’s Mid-Continent infrastructure in Oklahoma and its existing NGL facilities in Mont Belvieu, Texas.

The plan also includes the construction of a new 125,000bpd NGL fractionator, known as MB-4, and related infrastructure in Mont Belvieu, Texas.

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Total and Aggreko extended partnership to Europe

Total signed an agreement to extend its existing relationship as a supplier with power-generation equipment provider Aggreko to cover the whole of Europe.

Prior to the agreement, the relationship was limited to 17 countries, mainly across the Middle East and Africa.

Total supplies Aggreko with lubricants, petroleum products and associated services in these particular countries.

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Tellurian began open season for Haynesville natural gas pipeline

Tellurian, through its subsidiary Haynesville Global Access Pipeline (HGAP), launched an open season seeking customers for a proposed 42in natural gas pipeline, part of its previously announced $7bn proposed Tellurian Pipeline Network in the US.

The proposed pipeline links the Haynesville and Bossier shale production region to south-west Louisiana.

To be constructed at a cost of around $1.4bn, HGAP is anticipated to transport up to two billion cubic feet of natural gas per day.

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EQT board approved plan to spin-off midstream business

US-based petroleum and natural gas exploration company EQT is set to separate its upstream and midstream businesses after receiving approval from its board of directors.

The move is aimed at creating a stand-alone publicly traded company (NewCo) that will focus on midstream operations.

The newly formed Appalachian-based energy companies will continue to operate from Pittsburgh, Pennsylvania.

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Novatek signed new deals in Saudi Arabia and Russia

Russian firm Novatek signed a memorandum of understanding (MoU) with Saudi Aramco, the Saudi Arabian National Oil Company, for collaboration on international natural gas projects.

Under the MoU, the partnership will include LNG supplies and development of LNG markets, as well as gas exploration and production projects.

In addition, the parties will undertake research and technology development.

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CGG GeoConsulting made oil seeps discovery in Jamaica

CGG GeoConsulting, together with the Petroleum Corporation of Jamaica (PCJ), discovered two independent live onshore oil seeps in different parts of Jamaica.

According to CGG, the discovery represents the first documented occurrence of ‘live’ or flowing oil from onshore Jamaica.

Furthermore, the discovery is expected to encourage oil explorationists focused on Central America and the Caribbean.

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Centrica planned to cut 4,000 jobs amidst shrinking profits

British multinational utility company Centrica made plans to cut around 4,000 jobs by 2020 in the wake of declining operating profits.

The move is part of an extended cost-cutting programme, through which the company intends to achieve savings of £1.25bn per annum by 2020.

So far the cost efficiency measures delivered savings of £750m per year.

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TransCanada planned to invest $1.9bn to expand NGTL natural gas system

TransCanada Corporation decided to invest C$2.4bn ($1.9bn) to expand its Nova Gas Transmission Line (NGTL) natural gas system in Western Canada.

The NGTL expansion will boost basin export capacity by one billion cubic feet of natural gas per day (bcfpd).

According to TransCanada, NGTL completed an open season for existing and export capacity at the Empress / McNeill Export Delivery Point that was oversubscribed.

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Zion Oil & Gas encountered oil at Megiddo-Jezreel well in Israel

US-based exploration company Zion Oil & Gas encountered oil at its Megiddo-Jezreel well in Israel.

The company identified free-flowing hydrocarbons while circulating and drilling mud during the current open hole wireline logging and subsequent reaming operations.

In November last year, the company secured an extension on its Megiddo-Jezreel Licence No. 401 for a period of two years through to 2 December 2019.