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South Texas LNG Facility Would Support Sequestration

Check out some of Rigzone s most-viewed downstream-related articles from the past week. Which articles were Rigzone’s downstream readers most interested in last week? Keep reading to review three of the top articles based on pageviews. Oxy Low Carbon Ventures (OLCV) will offtake and transport carbon dioxide from NextDecade Corp.’s (NASDAQ: NEXT) Rio Grande LNG project in Brownsville, Texas, under a deal between the companies. In addition, the agreement calls for Occidental (NYSE: OXY) subsidiary OLCV to permanently sequestering the CO 2 in an underground geologic formation. NextDecade expects to reach the final investment decision stage for Rio Grande LNG this year.

Baker Hughes Shows More Oil Rigs

The U.S. rotary rig count increased by 13 this week, Baker Hughes Co. reported. The U.S. rotary rig count increased by 13 to 430 drilling units this week, Baker Hughes Co. (NYSE: BKR) reported Thursday. In its weekly count of operating rigs Baker Hughes noted the U.S. oil rig count rose by 13 and now totals 337. The U.S. gas rig count slipped by one to 91 and the number of miscellaneous rigs grew by one to two, the service company added. Since this time last year, when 664 rigs were operating, the U.S. has shed 234 rigs, Baker Hughes noted. The firm stated the year-on-year figures reflect a 225-unit decrease in oil rigs, a nine-unit decline in gas rigs, and no change in the number miscellaneous rigs (two). It added the U.S. offshore rig count increased by two this week to 14 – compared to 18 a year ago.

HAL in Permian Automation Breakthrough and More

Here are some of Rigzone s top upstream stories during the last week, just in case you missed them. Here are some of Rigzone s top upstream stories during the last week, just in case you missed them… Halliburton Claims Permian Automation Breakthrough Halliburton revealed that it has given a “major” operator real-time automated control of fracture placement while pumping on a multi-well pad in the Permian Basin. The name of the operator was not revealed, however. Read full article here Biden Plan Gives Oil Sector Surprise Boost Bloomberg noted that U.S. President Joe Biden plans to set off one more oil-sector boom before shadows descend on fossil fuels.

Colorado Firm Urges Gas Industry to Fix Its Brand

Exec says the gas industry is largely in denial about the need for rebranding. There is no shortage of acronyms in the natural gas industry, with perhaps some of the best-known ones being LNG, NGL, CNG, and LPG. A Denver-based environmental services firm aims to make another three-letter abbreviation – RSG – commonplace in the industry. Short for “responsibly sourced gas,” RSG is a designation from a third party verifying that gas was produced with high environmental and social standards. “RSG is the beginning of a multi-year appropriate rebranding of natural gas,” Chris Romer, CEO and co-founder of Project Canary – the independent third party ensuring that gas meets strict criteria on behalf of clients such as utilities and LNG buyers. “It’s reestablishing the appropriate brand equity with natural gas.”

OPEC+ Shows Confidence in Economic Recovery

by Bloomberg |Friday, April 02, 2021 OPEC+ expressed growing confidence in the global economic recovery by agreeing to increase oil production gradually in the coming months. (Bloomberg) OPEC+ expressed growing confidence in the global economic recovery by agreeing to increase oil production gradually in the coming months. Before Thursday’s meeting, the cartel had been widely expected to maintain its cautious stance by rolling over the current supply cuts, just as it did last month. Yet Saudi Arabia and its allies showed they are more convinced now that fuel demand is on a firmer footing after a yearlong beating from the coronavirus.

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