Oil & Gas Journal

The Oil & Gas Journal is a prominent weekly magazine focused on the petroleum sector, offering global insights. Located in Tulsa, Oklahoma, it also has a significant presence in Houston, Texas. The publication is managed by Endeavor Business Media.

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Phillips 66 to sell majority interest in Germany, Austria retail marketing business for $1.6 billion

1 day ago | ogj.com | Mikaila Adams

Phillips 66 to sell 65% interest in Germany, Austria retail marketing business for $1.6 billionPhillips 66 will retain a non-operated 35% interest in the business through a newly formed joint venture. A Phillips 66 subsidiary, Phillips 66 Continental Holding GmbH, has agreed to sell a 65% interest in its Germany and Austria retail marketing business, including JET-branded sites, to Carrera Bidco Ltd., whose shareholders are subsidiaries of investment Energy Equation Partners and Stonepeak.
Valeura Energy takes FID on offshore Thailand field redevelopment

2 days ago | ogj.com | Alex Procyk

Valeura Energy has FID on redevelopment of Wassana field offshore Gulf of Thailand. Wassana proved plus probable (2P) reserves will increase to 20.5 million bbl with redevelopment. Valeura Energy Inc. has taken final investment decision (FID) on redevelopment of Wassana field in License G10/48 offshore Gulf of Thailand. Current production from the Wassana field is via a Mobile Offshore Production Unit (MOPU) that is constrained by an end-of-life expected at end 2027.
Mozambique inks deals for new refinery, pipeline; advances LNG projects

2 days ago | ogj.com | Robert Brelsford

The government of Mozambique has entered two strategic agreements that, if finalized, would result in construction of the country’s first crude oil refinery, as well as a grassroots pipeline for delivery of petroleum-based products from the southeast African coastal republic to neighboring Zambia.
Chariot gains Energean interests offshore Morocco

2 days ago | ogj.com | Alex Procyk

Chariot obtained Energean's interests in Lixus and Rissana licenses. The Anchois-3 well did not deliver volumes required to expand the initial Anchois development plan. Adonis Pouroulis, CEO of Chariot, said the Anchois gas discovery "still offers the potential for a rescaled development". Chariot Ltd.
Petronas, partners sign deal for Caspian Sea gas

2 days ago | ogj.com | Alex Procyk

Petronas and partners signed a new production sharing contract with national oil company Turkmennebit for offshore Block I gas and condensate fields in Turkmenistan. Block I lies in the Caspian Sea and currently produces about 400 MMcfd of natural gas with access to over 7 tcf of natural gas resources and future opportunities for production capacity expansion, block partner XRG, an ADNOC-owned company, said in a May 14 release.
PetroChina Dagang refinery’s Ionikylation unit reaches operational milestone

3 days ago | ogj.com | Robert Brelsford

PetroChina Dagang refinery’s Ionikylation unit reaches operational milestoneCommissioned in mid-August 2022, the 150,000-tpy CIL unit—which produces high-octane alkylate with a RON of 98 to ensure the site’s production of gasoline meets China’s National VI emission standard—reached the operating milestone as of May 12,Photo from Well Resources Inc.
Eni starts gas production in Kutei basin

3 days ago | ogj.com | Alex Procyk

Eni started gas production from Merakes East field offshore Indonesia in 1,600 m of water. The field will contribute up to 100 MMscfd of gas or about 18,000 boe/d. Eni SPA started gas production from Merakes East field in Kutei basin, offshore Indonesia in 1,600 m of water about 10 km east of Merakes field. The field lies in the East Sepinggan block and will contribute up to 100 MMscfd of gas or about 18,000 boe/d.
Esso SAF’s northern France refinery wraps major turnaround

4 days ago | ogj.com | Robert Brelsford

Photo from Esso Societe Anonyme Francaise. Esso Societe Anonyme Francaise has restarted operations following scheduled maintenance at Esso Raffinage SAS’ 12-million tpy Notre-Dame-de-Gravenchon refinery in Port-Jérôme-sur-Seine, Normandy, in northern France. Esso Societe Anonyme Francaise (SAF)—a majority owned subsidiary of ExxonMobil Corp.
Sempra reaffirms Port Arthur LNG Phase 2 FID by end-2025

4 days ago | ogj.com | Christopher E. Smith

Sempra reaffirms Port Arthur LNG Phase 2 FID by end-2025Construction underway this year on the plant’s 13-million tpy Phase 1 includes foundations, steel and pipe installation, dredging, and major equipment setting. Work was paused 2 weeks ago when a scaffolding collapse killed three people on the job site. Sempra Infrastructure reported that a previously announced target of taking final investment decision on Port Arthur LNG’s 13-million tonne/year (tpy) Phase 2 by end-2025 remains in place.
Petrobras discovers oil in Aram block

1 week ago | ogj.com | Alex Procyk

Petrobras discovered oil in the Santos basin presalt, offshore Brazil. Two more wells will be drilled, and a drill stem test will be conducted as part of the appraisal plan. Petrobras discovered oil in Aram block in the Santos basin presalt, 248 km from the city of Santos, State of São Paulo, in 1,952 m of water. Electrical logs, gas shows, and fluid sampling from exploratory well 3-BRSA-1396D-SPS confirmed an oil-bearing interval. The oil was high-quality with no contaminants.