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Sunday, January 21, 2018

Exxonmobil Corp News

ExxonMobil in Talks with Possible LNG Buyers

ExxonMobil Corp. has started marketing gas from its planned liquified natural gas project in to potential buyers. Discussions with buyers began this month, according to a representative from the company who told the South East Asia Australia Offshore Conference in . ExxonMobil is marketing the gas on behalf of project partners, which include Oil Search Ltd. (OSH.AU). Source:  Dow Jones

Jones Act Tankship Chartered at Record Daily $100,000

Tankship Overseas Cascade: Photo courtesy of the owners

ExxonMobil Corp has agreed to renew its charter agreement for the 337,000-barrel 'Overseas Cascade' at an unprecedented $110,000 a day, nearly a 50 percent increase from its previous rate for the same ship this summer, reports Reuters, citing shipping sources. The century-old Jones Act, explains Reuters, requires all vessels operating between U.S. ports to be U.S.-built, U.S.-owned and U.S.-crewed in order to protect the U.S. commercial maritime industry. ExxonMobil had been reletting the Overseas Cascade from Brazilian state-run oil company Petrobras for over a year…

Qatar Commits to $13 billion LNG Project

Persian Gulf emirate Qatar will invest about $13 billion to boost liquid natural gas production by 40 percent, according to a Monsters and Critics report. Qatar Petroleum and ExxonMobil Corp. jointly formed Ras Laffan Liquefied Natural Gas Co., or RasGas, to supply a soon-to-be built LNG re-gasification terminal on the U.S. Gulf of Mexico coast. Recently, RasGas let contracts for an expansion of Ras Laffan Industrial City facilities that will process natural gas from Qatar`s giant North Field, according to the report. Among those contracts is one awarded to Fluor Corp. for engineering, procurement and construction management in the building of six LNG trains. The Fluor contract has a potential value of about $1 billion. Source: Monsters and Critics

Oil Product Ships Disrupted In French Fos Strike -Port

Strike action at 's state-administered Autonomous Port of Marseille, which encompasses the oil terminals of Fos-Lavera, continued to disrupt activity there, with 19 oil and gas vessels affected, the Tuesday. The Lavera terminal is closed, the port said in a statement, adding the Fos terminal is working, albeit slowly. Five ships are being unloaded at the Fos petroleum terminal, the said. The port said the 24 vessels included 11 tankers of refined petroleum products; seven crude oil tankers; one gas tanker; four ships containing chemicals and one container ship. Workers are organizing the strike action to protest a government privatization plan.

Anglo American seeks compensation from Venezuela

Anglo American is seeking compensation from Venezuela at a World Bank tribunal over the 2012 cancellation of mining concessions by late president Hugo Chavez's government. The World Bank's International Center for Settlement of Investment Disputes (ICSID) said on its website the claim was introduced on Thursday, but gave no more details. Venezuela faces more than 20 international compensation cases in disputes largely stemming from the 1999-2013 Chavez era. He died from cancer in 2013, with a protege, Nicolas Maduro, winning election to replace him. The best-known cases are multi-billion compensation claims by ExxonMobil Corp and ConocoPhillips over nationalizations.

Colonial Pipeline Demand at 2-Month Nadir

File Image (CREDIT: AdobeStock / (c) Maksym Yemelyanov)

Demand to ship gasoline on Colonial Pipeline has sunk to a two-month low as Gulf Coast supplies are increasingly being exported or sent to the Midwest rather than to the New York harbor, three sources familiar with the matter said on Wednesday. Colonial Pipeline Co, the largest U.S. fuel network, has consistently allocated space for at least the past two months, meaning demand has exceeded capacity on the pipeline. But it would not ration space on its main gasoline line for the next five-day shipping cycle, known as "Cycle 2," the sources said, which suggests lower demand.

Exxon Chief Backs More Access to Offshore Acreage

ExxonMobil Corp supports legislation that would give companies greater access to offshore U.S. oil and gas acreage, chief executive officer Rex Tillerson said. Two bills that would open up potential oil and gas reserves are being debated in the US Congress. A House of Representatives bill that would end a decades-old moratorium on drilling in federal waters is better than a Senate proposal, which opens tracts only in one section of the Gulf of Mexico, Tillerson said. Tillerson spoke at an Organization of Petroleum Exporting Countries seminar in Vienna on the importance of technology in meeting world energy demand. The conference, which is being held in Vienna’s Hofburg Palace…

Nordic American Tankers Signs TC with Cepsa

Photo: Nordic American Tankers

Nordic American Tankers has announced that it entered into an one-year term charter with the major Spanish oil company Cepsa for a ship. The company says  is the 2004 built Nordic Castor is expected to be delivered on the time charter in late February for a contract of up to 15 months. "She is expected to be delivered on the time charter late February, subject to a satisfactory inspection in next discharge port. The fact that NAT has only one million barrel suezmax ships allows us to achieve economies of scale. The agreed rate secures a good cash flow," said a company statement.

Guyana-Venezuela Border Spat Flares after Exxon Find

Guyana's new government on Monday attacked a decree by Venezuelan President Nicolas Maduro which it said seeks to annex Guyanese maritime space in the wake of an oil discovery. The dispute between the South American neighbors goes back to the early 19th Century and has resurged after an offshore oil discovery by ExxonMobil Corp last month. The decree creates a theoretical new "defense" zone offshore that would, in Venezuela's eyes, leave the former British colony with no direct access to the Atlantic. "Guyana rejects this illegality which seeks to undermine our development through the exploitation of our natural resources offshore," added the statement.

First PNG LNG Cargo Shipped by Exxon Mobil

LNG carrier: File photo

Exxon Mobil Corporatio says it has shipped the first cargo of liquefied natural gas (LNG) from the $19 billion PNG (Papua New Guinea) LNG project ahead of schedule. PNG LNG, operated by ExxonMobil affiliate ExxonMobil PNG Limited, is expected to produce more than 9 trillion cubic feet of gas over its estimated 30 years of operations. The first cargo is bound for LNG customer Tokyo Electric Power Co. Inc. (TEPCO) in Japan. Production from the first train started in April, 2014, and production from the second train has also started as additional wells came online.

Madagascar Drilling in ‘07

ExxonMobil reportedly sees exploratory drilling operations off the northwest coast of Madagascar getting under way in 2007, Reuters reported. The oil giant has interests in four blocks along the Indian Ocean island's northwest coast. Exxon has a 50 percent stake in the Majunga block while 30 percent is owned by UK gas firm BG Group Plc and 20 percent by South Korea's top oil refiner SK Corp.

ExxonMobil Announces Oil Discovery Offshore Guyana

(Photo: ExxonMobil)

Exxon Mobil Corporation announced its sixth oil discovery offshore Guyana since 2015, following positive results from its Ranger-1 exploration well. The Ranger-1 well discovery adds to previous discoveries at Liza, Payara, Snoek, Liza Deep and Turbot, which are estimated to total more than 3.2 billion recoverable oil-equivalent barrels. ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. began drilling the Ranger-1 well on November 5, 2017 and encountered approximately 70 meters of high-quality, oil-bearing carbonate reservoir.

Australian Supply Crunch Squeezes LNG Exporters

File Image: A typical LNG Carrier at Sea (CREDIT: MISC)

Spot LNG exports in government's cross-hairs; ConocoPhillips, Origin, Shell now in the firing line. The Australian government on Monday warned that the country's east faced a worse-than-expected natural gas shortfall in 2018, but the competition watchdog said the gap could easily be filled by diverting uncontracted exports to the local market. It is now up to the government to decide by Nov. 1 whether to pull the trigger on its Australian Domestic Gas Security Mechanism, which…

ECA Marine Fuels: ExxonMobil launches Premium AFME 200

(Photo: ExxonMobil)

To help shipowners meet strict new emission mandates, ExxonMobil expanded its range of fuels for use within Emission Control Areas (ECA) with the introduction of ExxonMobil Premium Advanced Fuel Marine ECA 200 (AFME 200). The fuel joins ExxonMobil Premium HDME 50 as part of a new category of marine fuel that has emerged as a result of the 2015 ECA sulfur limit of 0.10 percent. These low sulfur fuels help engineers safely and efficiently operate their main and auxiliary engines and boilers.

ExxonMobil Marks World Malaria Day With $10 Mln Grant

ExxonMobil -World Malaria Day

programs across Africa and in the Pacific Rim, where the disease is a major threat to health and economic development. The grants from ExxonMobil and the ExxonMobil Foundation will support a wide range of research, advocacy, treatment and prevention programs to accelerate progress in the fight against malaria, which still claims more than 627,000 lives each year, mostly children under the age of five. In addition to funding, ExxonMobil provides business expertise and insights to help strengthen these initiatives.

GAC is ExxonMobil's logistics partner for Mid East

GAC Logistics, part of the world's largest independent shipping and logistics services provider, GAC Group, has signed a contract with ExxonMobil, to provide the petrochemical company with total logistics solution across the Middle East. With the signing of the contract, GAC's scope of services to ExxonMobil expands from the distribution of bulk lubricants in Fujairah to become a fully-fledged regional logistics operation providing ExxonMobil with seamless supply chain management, says Mr Dag Bore, General Manager, GAC Dubai, Logistics Services.

ExxonMobil to Integrate Lubricants Businesses in Europe

ExxonMobil Lubricants announced it is integrating the Esso and Mobil lubricants operations in Europe. The European regional office for the ExxonMobil lubricants business has been established in Brussels and is fully operational. The integration at the country level will begin shortly and should be completed by the end of the year. This consolidation of ExxonMobil's lubricants business follows receipt of European regulatory approvals and completion of an agreement to dissolve the Mobil-BP joint venture.

Technip Signs Contract With ExxonMobil Global

Technip USA Corporation has signed a multi-year contract with ExxonMobil Global Services to provide front-end engineering services. Technip will provide engineering services to ExxonMobil’s Baytown refinery and chemical plants as ExxonMobil implements its programs to significantly reduce its NOx emissions and contributes to the Houston-Galveston-area efforts to attain air quality standards. Techinip has been involved in Nox abatement projects since the 1980s in California

ExxonMobil Marine Fuels to Supply Houston Market

ExxonMobil Marine Fuels has begun supplying marine fuels in Houston, Texas, with immediate effect. ExxonMobil will offer 180cSt, 380cSt and 500 cSt marine fuel as well as marine gasoil (MGO) and marine distillate (MDO). Entry into the Houston market expands ExxonMobil's existing marine fuel market offerings in Beaumont, Texas and Lake Charles, Louisiana.

New LNG Bunkering Solutions to Be Developed for Singapore

ExxonMobil and Pavilion Energy Pte Ltd are collaborating to develop solutions for liquefied natural gas (LNG) bunkering and other downstream developments in Singapore. With LNG growing in significance as part of the marine fuel mix, ExxonMobil is working toward providing vessel operators with access to a range of fuel options to suit their specific requirements, while helping them to comply with emission regulations. ExxonMobil brings to this partnership strengths in LNG shipping and terminal operations. ExxonMobil will support Pavilion Energy in establishing LNG bunkering procedures starting with truck to ship deliveries, as well as the safety and operational standards for LNG bunkering in Singapore.

ExxonMobil inks patent agreement with Pason Systems

Photo ExxonMobil

ExxonMobil has awarded to Pason Systems, Inc. the first global license of its patented Drilling Advisory System, a key component of the company’s Fast Drill technology suite. The licensing agreement accelerates the technology’s commercialization by combining Pason’s expertise in drilling data and ExxonMobil’s experience in drilling surveillance and optimization. Fast Drill combines high-end modeling of drilling physics with structured well planning and design to identify limiters and maximize performance.

Gorgon LNG Cargo Arrives Japan

Photo: Chevron Corporation

Tokyo Gas Co has received its first liquefied natural gas (LNG) cargo from Chevron Corp's $54 billion Gorgon export facility in Australia, reports Reuters. The "Energy Confidence" vessel carrying about 70,000 tonnes of LNG arrived on Saturday at the company's Ohgishima LNG Terminal in Yokohama, near Tokyo, a company spokesman said on Monday. Chubu Electric received Japan's first cargo from the project around April, a Chubu spokesman said. Tokyo Gas signed a contract in 2009 to buy 1.1 million tonnes of LNG annually from the project for 25 years on a free-on-board (FOB) basis.

India Plans to Liquefy Sakhalin Gas

Flagship Indian energy firm Oil and Natural Gas Corp. is in talks over exporting its share of natural gas from Sakhalin-1 via Royal Dutch Shell's nearby LNG terminal, The Moscow Times reported. The move to make liquefied natural gas at Sakhalin-1, a multibillion-dollar project on the Pacific Coast, runs counter to operator ExxonMobil's long-held plan to sell the gas via a pipeline to nearby Japan. Exxon said it still planned to supply Sakhalin-1 gas by pipeline to North East Asian markets like China and Japan. Still, the company said it was exploring all reasonable opportunities to maximize the value of the gas resource. (Source: The Moscow Times)

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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