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Oil News and Gas News
February 08, 2016
OIL AND GAS
U.S. rig count drops 8 percent
Houston (UPI) Feb 08, 2016
The total number of rigs actively exploring for or producing oil and gas in the United States dropped more than 8 percent, Baker Hughes reports. In its monthly report for January, Baker Hughes, which provides services for the upstream oil and gas sector, said the U.S. rig count for January was 654, down 8.4 percent from the previous month. Lower crude oil prices means energy companies have less capital to invest in exploration and production, a trend loosely reflected in rig counts. U.S. ... read more
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OIL AND GAS

Kurds pay out for crude oil exports
With formal statehood under consideration, the Kurdish government continues to make its regular payments for crude oil exports, Genel Energy said. ... more
OIL AND GAS

House scoffs at Obama's proposed $10 oil fee
Republican leaders in the U.S. House said a White House proposal to impose a $10-per-barrel tax on U.S. oil stands no chance of gaining legislative traction. ... more
OIL AND GAS

BG Group ends independence on high note
In its last report as an independent company, BG Group said it was one of the few companies in the struggling sector to report a full-year profit. ... more
OILGASDAILY


OIL AND GAS

Canada's Suncor trims spending
Canadian energy company Suncor, after a success hostile takeover of a rival, reported a fourth quarter net loss of almost $1.5 billion. ... more


OIL AND GAS

Wood Mac: Production not fading with oil prices
Despite the dramatic decline in crude oil prices since mid-2014, consultant group Wood Mackenzie finds production has yet to see significant curtailments. ... more

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OIL AND GAS

Oil lower on U.S. jobs data
Crude oil prices turned modestly lower at the opening bell Friday after reports showed the U.S. labor sector is starting to cool down. ... more
OIL AND GAS

Is lignin the crude oil of the future? Maybe so, thanks to the Sun and photocatalysts
Is lignin the crude oil of the future? Maybe so, thanks to the Sun and photocatalysts! We associate refineries with crude oil and a dense tangle of technical fittings. They may, however, change in t ... more
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France's Cahors wine is new frontier for Argentina, China

Romania asks UNESCO to protect planned open-cast goldmine site

OIL AND GAS

Total lands Chinese LNG deal
French energy company Total said Thursday it signed a breakthrough binding agreement for the delivery of liquefied natural gas to the Chinese market. ... more
OIL AND GAS

Statoil cuts spending to prepare for rebound
Norwegian energy company Statoil said Thursday it was cutting spending for the year in an effort to position its portfolio for growth once the market recovers. ... more
OIL AND GAS

Market is brutal, Weatherford says
Noting the "brutality" of the oil sector downturn, field services company Weatherford International said it was looking to trim up to 6,000 jobs. ... more
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OIL AND GAS

EU still net energy importer
Members of the European Union imported more than half of their energy in 2014, data from the region's statistics office showed. ... more
OIL AND GAS

Conoco trims dividends, Shell earnings down 80 percent
It's unclear how long the oil market will remain suppressed so the best course of action is to cut back and wait for recovery, Conoco Phillips said Thursday. ... more
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OIL AND GAS

Chevron reports minor spill in the Philippines
Chevron confirmed its Philippines subsidiary suffered a spill during the loading of fuel, but noted the leak was fully contained within hours of the incident. ... more
OIL AND GAS

Oil prices up in volatile trading
Crude oil prices moved in volatile territory Thursday after a string of poor earnings reports balanced against ongoing rumors of potential production cuts. ... more
OIL AND GAS

City of Washington, D.C., says 'no' to offshore drilling
Advocacy group Oceana said it welcomed Washington, D.C., to a growing list of local governments expressing opposition to drilling in the Atlantic Ocean. ... more
OIL AND GAS

Iran ahead of the game, Moody's finds
Steering the region's second-largest economy through Western sanctions means Iran is in a unique position to weather an oil sector downturn, Moody's said. ... more
OIL AND GAS

Lundin suffers major losses in 2015
Swedish energy company Lundin Petroleum reported its worst quarterly results ever, though its president said the market may be approaching bottom. ... more

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OIL AND GAS

Oil up on U.S. jobs, production rumors
Signs of a resilient U.S. labor sector and ongoing rumors about oil production deals pulled crude oil back above $30 per barrel in Wednesday trading. ... more
OIL AND GAS

Alberta goes all-in on economic diversity
The provincial government of Alberta reshaped its ministerial portfolio to help usher in a new scheme for economic diversity, Premier Rachel Notley said. ... more
Military Space News, Nuclear Weapons, Missile Defense
US missile shield spotlights divisions on handling N. Korea

S. Korea, US to discuss deployment of US missile system

S. Korea navy fires warning shots at North vessel

UN condemns N. Korea rocket launch, vows sanctions soon

UAE says in favour of US-led ground troops in Syria

Saudi intercepts Scud from Yemen

Japan steps up bid to win Australia submarine contract



OIL AND GAS

Oil squeezing Oklahoma's budget

OIL AND GAS

Oil sharply lower on weak earnings

OIL AND GAS

Scotland offers more support for energy sector

OIL AND GAS

Exxon posts profit, but not a very strong one

OIL AND GAS

Refinery issues tug on gas prices

OIL AND GAS

Anadarko latest to suffer fourth quarter loss

OIL AND GAS

Friends of the Earth: British fracking plans undemocratic

OIL AND GAS

Iraq oil exports up but revenue plunges on low prices

OIL AND GAS

Oil starts February in the red

OIL AND GAS

Oil prices fall on weak China data, dimming deal hopes

Leviathan gas to supply Israeli market

Shell divesting from Malaysia

Scotland offers aid to North Sea energy workers

Total signs agreement with Iran

Russian Central Bank sees risk from oil

Texas to share shale strategies with Mexico

Chevron posts first loss in more than 10 years

Oil smiles on Bank of Japan moves

Lundin trims spending, but output will be higher

BG shareholders still reviewing Shell merger

In Gulf Of Mexico, microbes thrive above natural oil seeps

U.S. oil exports relatively unchanged

Oil prices soar on production rumors, U.S. labor

Enbridge builds footprint in Montney shale

Canada to consider CO2 emissions in approving new pipelines

Canadian oil constricted without new pipelines

Shale-rich Oklahoma funding earthquake research

Baker Hughes posts hefty loss

Increasing oil's performance with crumpled graphene balls

Oil not moving in favor of Texas


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