Motiva, the U.S. refining arm of Saudi Aramco, plans to operate the Flint Hills chemical plant while it builds three giant petrochemical units within its Port Arthur complex.
Hedge funds cut their bullish positions in petroleum last week for the second week running as anxiety about the slowing global economy and oil consumption trumped optimism over production restraint by OPEC and its allies.
For the week ahead, Stratas Advisors expect Brent to remain weak, averaging $60/bbl.
The agreement between Elevate Midstream and Sabine Oil and Gas increases gas gathering and processing capabilities in the Carthage area within the Haynesville Shale.
Together, the Appalachia and Permian basins are expected to supply about 53% of the North American gas market by 2030, according to McKinsey and Co.
In the first seven months of 2019, natural gas feedstock deliveries to LNG export facilities have been the fastest growing among all U.S. natural gas consumption sectors, the EIA says.
A drone attack launched by Yemen's Houthi group on an oilfield in eastern Saudi Arabia on Aug. 17 caused a fire at a gas plant but had no impact on oil production, state-run oil company Saudi Aramco said.
The report by OPEC also said oil inventories in developed economies rose in June, suggesting a trend that could raise the group's concern over a possible oil glut.
lobal oil and gas major BP has published its master sales and purchase contract templates for its liquefied natural gas (LNG) trading business and says it is the first of its peers to do so.