PJSC Gazprom Neft has started construction of a railcar oil products-loading terminal, AUTN-1, at its 21.4 million-tonne/year Omsk refinery in Western Siberia as part of the ongoing modernization and upgrading program to reduce environmental impacts as well as improve processing capacities, conversion rates, energy efficiency, and production qualities at its Russian refineries by 2020.
US exploration and production budgets are expanding for the first time since 2014, Fitch Ratings said, adding that its analysts expect higher US rig counts along with increased drilling and completion spending in 2017 compared with 2016.
The long-considered concept of a natural gas pipeline linking fields in Western Australian to markets along the country’s east coast has been resurrected by the federal government as a possible way to solve the looming domestic gas supply shortages in the east.
The light, sweet crude oil prices for May delivery fell modestly on the New York market Apr. 20 but settled above $50/bbl while Brent crude oil for June delivery gained slightly to settle at nearly $53/bbl on the London market.