Energy Update
Zion Oil & Gas has announced that on November 20th, 2017 Zion received a two-year extension on its Megiddo-Jezreel License No. 401, extending its validity to December 2, 2019.
Petroleum is a fossil fuel that is found in geological formations beneath the Earth's surface. The naturally occurring petroleum is a yellow-to-black liquid that is refined to produce various types of fuels. The term covers unprocessed crude oil and petroleum products that consist of refined crude oil. It includes crude oil, natural gas plant liquids, liquefied refinery gases, and refined petroleum products such as gasoline and diesel.
Energy market participants in some regions of the world are facing the challenge of renewables integration head-on, with slow, but steady, progress on market redesign and the creation of more regionalized power grids.
South African firm Sasol has announced its plan to abandon its gas-to-liquids (GTL) greenfields projects including a $13bn-$15bn GTL facility in Louisiana, US, as part of its refined corporate strategy.
It’s that time of year again: holidays! Until 2018 begins, we try to set aside some extra time for family, eat delicious meals together, exchange gifts and generally close out the year with good wishes and good intentions for the next year.
Gazprom Management Committee took note of the information about the company’s preliminary operating results for 2017 and the projected investment program and budget (financial plan) for 2019–2020.
Sasol, the South African chemicals and energy company, has increased its existing $1.5bn Revolving Credit Facility to $3.9bn and extended the maturity to five years with the inclusion of two further extension options of one year each.
(Wed, 22 Nov 2017) Heading into the Thanksgiving holiday weekend, U.S. retail regular-grade gasoline averaged $2.57 per gallon (gal), up 41 cents/gal from the same time last year. Although gasoline prices are higher than in both 2015 and 2016, the Thanksgiving 2017 gasoline price is still the third-lowest since 2008.
Viva Energy Australia has officially inaugurated its new 100 million litre crude oil tank at its Geelong Refinery in Australia.
Burisma International Energy Group has signed direct agreement with National Oilwell Varco (NOV) for equipment supply.
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