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BASF and Gazprom complete asset swap
BASF subsidiary Wintershall focuses on oil and gas exploration and production
Ludwigshafen, Germany and Moscow, Russia – October 1, 2015 – BASF and Gazprom have completed the swap of assets with equivalent value effective at the end of September 30, 2015, financially retroactive to April 1, 2013. With the swap, BASF is further expanding its production of oil and gas and has exited the gas trading and storage business.
Gas Prices Since 2004
(WASHINGTON, September 21, 2015) Today’s national average price for regular unleaded gasoline marks the lowest price for this date since 2004, and prices continue to march lower. The national average has dropped for 35 consecutive days for a total savings of 38 cents per gallon over this span. Today’s average price of $2.29 per gallon represents a weekly savings of four cents per gallon and a monthly savings of 33 cents per gallon. Motorists are saving $1.05 per gallon compared to one year ago, largely due to the relatively low price of crude oil and abundant petroleum supplies.
low oil prices could reduce exploration and production investment
September 23, 2015 -- Low oil prices, if sustained, could mark the beginning of a long-term drop in upstream investment. Oil prices reflect supply and demand balances, with increasing prices often suggesting a need for greater supply. Greater supply, in turn, typically requires increased investment in exploration and production (E&P) activities. Lower prices reduce investment
EIA: U.S. propane inventories are at an all-time high
September 21, 2015--U.S. inventories of propane and propylene reached 97.7 million barrels as of September 11, the highest level in the 22 years that EIA has collected weekly propane inventory statistics. In the first six months of 2015, U.S. propane and propylene inventories were 24.3 million barrels higher on average compared to the same period in 2014. In the past year, nearly all of the increase in inventories occurred in the Gulf Coast region (PADD3).
Eni discovers a supergiant gas field in the Egyptian offshore, the largest ever found in the Mediterranean Sea
August 3, 2015--Eni has made a world class supergiant gas discovery at its Zohr Prospect, in the deep waters of Egypt. The discovery could hold a potential of 30 trillion cubic feet of lean gas in place covering an area of about 100 square kilometres. Zohr is the largest gas discovery ever made in Egypt and in the Mediterranean Sea. Eni will immediately appraise the field with the aim of accelerating a fast track development of the discovery that will utilise at best the existing offshore and onshore infrastructures. Eni’s CEO, Claudio Descalzi, has recently travelled to Cairo to update Egypt’s President, Abdel Fattah Al-Sisi, on this important success, and discuss this discovery with the Prime Minister, Ibrahim Mahlab, and the Minister of Petroleum and Mineral Resources, Sherif
International Gas Union Releases World LNG Report, 2015 edition
WGC 2015, Paris, France, 3 June 2015 --
A new IGU LNG report was issued in relation to the IGU's World Gas Conference held in Paris 1-5 June 2015. This third LNG Report of the IGU 2012-2015 Triennium includes special features on the work performed by the four Study groups in the LNG section during this Triennium: “Small Scale, LNG as Fuel, Remote LNG and LNG Life Cycle Analysis”.
Releases Draft Assessment on the Potential Impacts to Drinking Water
Resources from Hydraulic Fracturing Activities
LNG Project LLC Receives Conditional Authorization to Export LNG to
Non-Free Trade Agreement Countries
North Connection Project Receives NEB Approval
gas discovery west of the Aasta Hansteen field in the Norwegian Sea
New chemical plants expected to boost industrial natural gas demand by 4% in 2015
Shell announces Utica gas discovery in Pennsylvania
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