South America
Paisie: OPEC+ Will Be Able to Manage Prices
Disappointing economic news has contributed to a drop in oil prices.
E&P Highlights: July 10, 2024
Here’s a roundup of the latest E&P headlines including TotalEnergies exiting South Africa to focus on opportunities in Namibia.
Shell Trinidad Takes FID at Manatee Offshore Gas Field
Shell Trinidad and Tobago Ltd. has taken FID on the Manatee cross-border gas field. Manatee will start production in 2027 and at its peak add 104,000 boe/d or 604 MMcf/d of natural gas to Trinidad’s production profile.
Gulf Coast Ports Slowly Reopening to LNG After Beryl Strikes
With more than 2 million without power in the Houston area following Hurricane Beryl’s July 8 landfall, and little information on outages from CenterPoint Energy, a workaround can be found using the Whataburger app.
Beryl Makes Landfall East of U.S.’ Largest Energy Export Gateway Corpus Christi
Tropical storm Beryl made landfall in Texas as a Category 1. Life-threatening storm surges are expected to continue along the coast of Texas from Port O’Connor to Sabine Pass, including the eastern portion of Matagorda Bay and Galveston Bay, according to the National Hurricane Center.
Oil, Gas Industry Braces for Storm After Beryl Shifts Toward Houston
Chevron and Shell have evacuated offshore platforms as Tropical Storm Beryl could grow into a Category 2 hurricane when it makes landfall in the Houston area on July 8.
Port of Corpus Christi Closes as Tropical Storm Beryl Approaches
Port closures could temporarily halt crude oil exports, shipments of crude oil to refineries and motor fuels from those plants.
Former Exxon Exec.’s Company to Develop Guyana Gas Project
Fulcrum LNG, recently formed by a former Exxon Mobil Guyana executive, has been selected by the government of Guyana to move forward a project to develop that country’s offshore gas. Baker Hughes and McDermott are also part of the development.
Oil Prices Ease on Strong Dollar, Mixed Global Economic News
Crude prices declined despite signs of improving U.S. oil demand and falling fuel inventories that helped boost crude prices to a seven-week high a day earlier.
BP to Buy Out Bunge’s Stake in Brazilian Biofuels JV
BP’s acquisition of Bunge’s stake in BP Bunge Bionergia is expected to close by year-end 2024, pending regulatory approvals.