Natural Gas Liquids

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  1. Petrobras slashes 5-year spending plan by 25%

    Petroleo Brasileiro SA has set its planned spending for 2017-2021 to $74 billion, down 25% from its 2015-2019 plan, under the direction of new Chief Executive Officer Pedro Parente ( OGJ Online, May 20, 2016 ). The Brazilian state-owned firm said it hopes to divest $19.5 billion in assets over the next couple of years, pledging to exit biofuel production, LPG distribution, fertilizer production, and investments in petrochemicals. Petrobras has maintained a divestment target of $15.1 billion for 2015-16. Additional costs savings are expected through increasing strategic partnerships in exploration and production, refining, transportation, logistics, distribution, and sales. The moves are part of an effort to cut the firm’s $125 billion debt load. The financial target determines that the company's net debt be equivalent to 2.5 times its cash generation in 2018. According to Petrobras’ 2015 annual balance sheet, this index reached 5.3 times. Most of the investment under the new 5-year plan, 82%, will be directed toward exploration and production activities, 17% to refining and natural gas, and the remaining 1% to other areas. Petrobras is targeting 2.8 million b/d in oil and natural gas liquids production by 2021, sustained by operating performance and the application of new technologies. The firm notes the average time to build an offshore well in the Santos basin presalt cluster has been cut to 54 days in 2016 from 152 days in 2010. Production startups are expected in 2017 from the Tartaruga and Mestica projects in the post-salt Campos basin, Lula Norte and Lula Sul in the Santos basin presalt, and the Libra extended well test. Next year, Berbigao, Lula Extremo Sul, and Buzios 1, 2, and 3, all in the presalt cluster, are expected to come on stream. Slated to begin flow in 2020 are Buzios 5, the Libra pilot, and the Sepia pilot in the presalt, and Module 1 of the Marlim revitalization project in the Campos basin post-salt area. In 2021, production startup is scheduled for Module 2 of Marlim and the integrated Parque das Baleias project in the Campos basin, as well as Itapu and Libra 2. "In the next couple years, we will concentrate on recovering Petrobras' financial strength as an integrated energy company that is focused on oil and gas,” said Parente. “In the total 5-year horizon this plan encompasses, we propose that the company will have been restructured, that it [has] unquestionable governance and ethical standards in order to support increased, but realistic production, and that it be able to invest and position itself in the transition process the global energy market is going through.”

    Online Articles

    Online Articles

    Wed, 21 Sep 2016

  2. New report confirms oil and gas pipelines are one of the safest ways to transport energy

    The report highlights oil and gas pipeline safety performance and industry-wide efforts to improve pipeline safety in 2016 and beyond.

    Online Articles

    Online Articles

    Tue, 20 Sep 2016

  3. Oil and Gas News: Public Service Commission approves 3 pipeline projects

    North Dakota regulators have approved siting permits for two crude oil pipelines and a natural gas liquids pipeline.

    Online Articles

    Online Articles

    Thu, 18 Aug 2016

  4. Liquidity Energy launches Battalion Energy

    Liquidity Energy LLC has launched Battalion Energy LLC, a new team brokering OTC natural gas liquids .

    Online Articles

    Online Articles

    Wed, 6 Jul 2016

  1. EnLink Midstream forms JV with NGP to expand gathering and processing in the Delaware Basin

    Online Articles

    Online Articles

    Tue, 2 Aug 2016

  2. Renaissance gets fourth block in Mexico

    Renaissance Oil Corp., Vancouver, BC, has signed a license contract for the formerly productive Ponton Block in Veracruz, Mexico, and is preparing development plans to restart output.

    Online Articles

    Online Articles

    Tue, 30 Aug 2016

  3. Energy Blog: $100 Oil Looming

    Three important factors – supply, demand and oil prices – can enhance the economies of the fifteen major crude oil exporting countries and browbeat those of the more than 175 importers.

    Online Articles

    Online Articles

    Thu, 1 Sep 2016

  4. NPD: July oil production highest level in 5 years

    The Norwegian Petroleum Directorate reported that Norway’s oil production in July reached its highest level in 5 years because many fields were “producing above prognosis.”

    Online Articles

    Online Articles

    Tue, 16 Aug 2016

  5. Enterprise completes expansion of Lou-Tex natural gas liquids pipeline

    Enterprise Products Partners L.P. announced that it has completed the expansion of its Lou-Tex Natural Gas Liquids (NGL) pipeline.

    Online Articles

    Online Articles

    Thu, 20 Feb 2003

  6. Phillips 66 Partners to buy S. Louisiana NGL logistics assets

    Phillips 66 Partners LP has agreed to acquire a natural gas liquids logistics system in southeast Louisiana owned by Chevron Corp.

    Online Articles

    Online Articles

    Fri, 26 Aug 2016

  7. Natural gas liquids /methane-filtering membranes

    Preserve valuable methane and natural gas liquids - often lost when treating natural gas - with new UOP Separex Select membrane elements.

    Blogs

    Blogs

    Tue, 23 Apr 2013

  8. Chesapeake Energy exits Barnett, sheds related future liabilities

    With its announcement late Wednesday to exit the Barnett, Chesapeake Energy Corp. helps improve its operational and financial standing by shedding considerable future liabilities.

    Online Articles

    Online Articles

    Thu, 11 Aug 2016

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