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Oil News and Gas News
May 05, 2016
OIL AND GAS
OMV signs agreement with Iranian counterpart
Tehran (UPI) May 4, 2016
Austrian energy company OMV said Wednesday it made the first steps toward resuming operations in Iran after signing an agreement with a national oil entity. OMV signed a memorandum of understanding in Tehran with the National Iranian Oil Co. to asses the field potential at several developments in western Iran. The arrangement also includes consideration for crude oil and petroleum product trades. "This memorandum of understanding is an important first step in resuming OMV's activities in ... read more
Previous Issues May 04 May 03 May 02 May 01 Apr 29
OIL AND GAS

Why China Is Really Dictating the Oil Supply Glut
Ship tracking data from Bloomberg shows that 83 supertankers carrying around 166 million barrels of oil are headed to China, which has stockpiled an impressive 787,000 barrels a day in the first q ... more
OIL AND GAS

Noble Energy sells off Colorado shale holdings
Selling off parts of its shale holdings in Colorado means a better chance to strengthen the balance sheet for the year, Noble Energy said. ... more
OIL AND GAS

Shell still working to navigate weak market
Spending plans for 2016 are less than the combined spending guidance between Shell and BG Group two years ago, the Dutch supermajor said Wednesday. ... more
OILGASDAILY


OIL AND GAS

ENGIE shakes up staff to adapt to new market
French energy company ENGIE announced Wednesday it shook up its front-office staff in an effort to revamp the company to align with emerging market trends. ... more


OIL AND GAS

Oil prices recover after two straight days of loss
An increase in Russian oil production and price expectations balanced against shortages in Canada sparked by wildfires, pushing oil higher early Wednesday. ... more

Space Tech Expo - Design - Build - Test - Pasadena CA - May 24-26, 2016

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OIL AND GAS

DNO gets boost from Kurdish oil exports
A string of regular export payments from the Kurdish government in Iraq means the funds are there to start a drilling campaign, Norwegian company DNO said. ... more
OIL AND GAS

Encana cutting costs with little impact on output
After declaring a loss for the first quarter, Canadian energy company Encana said it as working to cut overall costs by more than $400 million. ... more
24/7 News Coverage
Ice loss accelerating in Greenland's coastal glaciers

Wave of dead sea creatures hits Chile's beaches

Trinity scientists reveal origin of Earth's oldest crystals

Geochemical detectives use lab mimicry to look back in time

NASA Helps Forecast Zika Risk

Bioreactors ready for the big time

Amazon rainforest responds quickly to extreme climate events

OIL AND GAS

U.S. shale oil still facing pressure
Oil production in key U.S. shale formations declined and, while a recovery in crude oil prices is an incentive, risks do remain, market analysis finds. ... more
OIL AND GAS

BP hands out more contracts for Azeri gas project
A BP subsidiary trying to pull gas from offshore Azerbaijan said it doled out a $1.5 billion contract to help get gas flowing within the next two years. ... more
OIL AND GAS

Local fracking bans struck down in Colorado
A Colorado Supreme Court ruling enforcing state jurisdiction over oil and natural gas activity has "enormous implications" for the economy, the governor said. ... more
Human 2 Mars Conference May 17-19 2016 - Washington DC
Cryogenic Buyer's Guide
Transition from Operations to Decommissioning by Preparing a Safe, Cost-Effective Shut Down and Waste Management Strategy The World's Largest Commercial Drone Conference and Expo - Sept 7-9 - Las Vegas
Directed Energy And Next Generation Munitions - 20-22 June - Washington DC
OIL AND GAS

Slowing China pushes oil prices lower
Crude oil prices retreated Tuesday for the second straight day after Chinese data showed a contraction in the nation's manufacturing sector. ... more
OIL AND GAS

Gas prices at six-month highs
High consumer demand and a recovery in crude oil prices means U.S. drivers are paying the highest for gasoline in more than six months, market analysis finds. ... more
Space News from SpaceDaily.com
Planet Nine: A world that shouldn't exist

Pluto: A Global Perspective

New Elevation Map of Pluto's Sunken 'Heart'

Ballooning Expectations: New Approach for Astronomy

Pluto's Interaction with the Solar Wind is Unique, Study Finds

NASA research gives new insights into how the Moon got inked

Interstellar spacecraft sails could slam on Brakes for exoplanet flybys

OIL AND GAS

Statoil increases hold over Lundin Petroleum
Norwegian energy company Statoil said it reached a deal to take a larger stake in its Swedish counterpart Lundin Petroleum in an asset swap. ... more
OIL AND GAS

Russia's Central Bank keeps rates unchanged
Citing the risk of crude oil prices moving lower and lingering inflationary pressures, the Russian Central Bank said Friday it was keeping its key rate steady. ... more
OIL AND GAS

PetroChina posts first quarterly loss since listing
PetroChina shares plunged on Friday, after the Chinese energy giant posted its first quarterly loss since listing overseas 16 years ago, as it struggled with the weak domestic economy and lower international oil prices. ... more
OIL AND GAS

Statoil in mourning after last week's helicopter crash
Norwegian energy company Statoil said it was in a state of mourning after 13 employees died when a helicopter crashed after leaving an offshore platform. ... more
OIL AND GAS

Oil prices start May in the red
With some contracts expiring, crude oil prices were volatile early Monday though supply-side pressure emerged again to drag on evolving market dynamics. ... more

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OIL AND GAS

Lundin touts green footprint ahead of earnings report
Less than two weeks before releasing quarterly earnings, Lundin Petroleum said in a sustainability report its work offshore Norway was among the greenest. ... more
OIL AND GAS

South Korea, Iran eye oil and gas deals
South Korea and Iran signed off on more than a dozen proposals, including those tied to oil and gas, as Iran's president touts the value of foreign investments. ... more
Military Space News, Nuclear Weapons, Missile Defense
Russia says bolstering forces to counter NATO

French report: Banner year for aerospace, defense

New NATO supreme commander vows tough line on Russia

N. Korea completes work at missile sub shipyard: US think tank

Bats' flight technique could lead to better drones

Leonardo-Finmeccanica develops new E-scan radar

Telesat procures two prototype satellites for global ka-band low earth orbit constellation



OIL AND GAS

Enbridge weighing its options

OIL AND GAS

US top court rejects BP shareholder suit over stock price plunge

OIL AND GAS

Halliburton, Baker Hughes merger scrubbed

OIL AND GAS

North Dakota showing little rig movement

OIL AND GAS

Crude oil rally knows no limit

OIL AND GAS

Oil opposition grows on both U.S. shores

OIL AND GAS

Gulf Keystone Petroleum mulling debt

OIL AND GAS

Weatherford says it's ready for anything

OIL AND GAS

Exxon squeaks out a profit, though Chevron stumbles

OIL AND GAS

Long-term oil shortfall predicted by Wood Mackenzie

Europe critical of Polish shale gas laws

U.S. shale oil down, but not out

Oil running quickly toward $50 per barrel

Schlumberger lands another merger

Saudi Arabia Releases Ambitious Plan To Diversify Economy

NASA Scientists Scrutinize Arctic Gas Flaring Pollution

Unemployment up in Norway's oil economy

Oil still at center of Libyan conflict

Groundwater quality changes alongside expansion of hydraulic fracturing

Hess producing more despite taking a loss

Contamination in North Dakota linked to fracking spills

New oil discovery in Gulf of Mexico

Wood Group lands Azeri deal with BP

Alberta taking climate message to Washington

Oil prices mixed to flat on weak U.S. GDP

One oil field a key culprit in global ethane gas increase

Tullow lowers spending forecast

Oil prices up on expectations of market balance

Demand pulling U.S. gasoline prices higher

Locals rule for Tehran energy conference


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