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News About Oil And Gas
March 24, 2017
Norway's Statoil top bidder for U.S. offshore licenses
Washington (UPI) Mar 23, 2017
As one of the companies with the largest take in a U.S. offshore auction, Norway's Statoil said it reset its Gulf of Mexico position as the market improves. Statoil was the high bidder on 13 of the tracts up for sale in the latest auction for the rights to drill in the U.S. waters of the Gulf of Mexico. Of the more than two dozen companies with successful bids, Statoil was near the top with company bids of more than $51 million. The company was the successful high bidder in all but two o ... read more

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Oil and gas-rich Norway expects sluggish economic growth
There are signs that pressure from a declining energy sector is fading, though Norway's economy is not on pace for major growth, the government said Thursday. ... more
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Oil breakthrough for Mexico with Eni discovery
Italian energy company Eni said Thursday it confirmed the potential for oil offshore Mexico in the first drilling campaign by a foreign company since 2013. ... more
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Husky Energy responding to minor Alberta oil spill
Canadian oil company Husky Energy said it was ready to start restoration efforts immediately, after reporting a minor oil spill in southwest Alberta. ... more
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Libya sets goals for higher oil production
Libya aims to increase crude oil production at some of its fields by 55,000 barrels to the extent that conditions permit, the nation's main oil company stated. ... more
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UN Security Council again eyes sanctions on South Sudan
The UN Security Council voiced alarm Thursday about the deepening humanitarian crisis and famine in South Sudan, with the United States, Britain and France raising anew the idea of sanctions and a weapons embargo. ... more
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A new model for capillary rise in nano-channels offers insights into fracking
In the last decades, hydraulic fracturing or "fracking," a method of oil and gas extraction, has revolutionized the global energy industry. It involves fracturing rock with a pressurized liquid or " ... more
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Germany's Wintershall expects steady oil, gas output for 2017
German energy company Wintershall said it expects good returns this year and a steady course for oil prices supporting expansions for oil and gas production. ... more
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Senegal oil bonanza imminent, FAR Ltd. says
In a report to shareholders, energy company FAR Ltd. said its flagship basin offshore Senegal was primed for growth because of low costs and good appraisals. ... more
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Russia will play OPEC ball, report finds
Russia is likely to play along with what's expected to be another six months of OPEC production cuts despite lackluster compliance, a new report finds. ... more
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Supply-side pressure leaves bruise on oil prices
Questions about Trump-era economic trends and concerns about a glut of oil in the market pushed crude oil prices sharply lower in early Wednesday trading. ... more
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New Zealand expects strong interest in oil, gas auction
Though small by global standards, New Zealand's oil and gas sector is expected to see strong interest as the market improves, the energy minister said. ... more
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Market may be ripe for U.S. offshore oil and gas bids
Energy sector interest in the central waters of the Gulf of Mexico is high because of market conditions and U.S. government interest, a trade group said. ... more
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Foot placed on Cuba oil accelerator
A basin in Cuba that has a reserve potential of 647 million barrels is scheduled for an accelerated exploration program, an Australian energy company said. ... more
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U.S. oil production keeping oil prices low
Crude oil futures started the day slightly improved Tuesday after falling for seven of the last 10 sessions. ... more
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Norway reviews offshore platform safety for helicopters
The Spanish energy company Repsol has been called on to address concerns about safety as they relate to an offshore accident tied to transport, a Norwegian regulator said. ... more
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Oil-rich Russia revises GDP growth estimate higher
As crude oil prices recover from last year's historic decline, the Russian finance minister said the outlook for gains in gross domestic product have improved. ... more
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Military Space News, Nuclear Weapons, Missile Defense
US leads boycott of nuclear weapons ban talks

China to open first drone factory in Saudi Arabia

IS releases video threatening Iran

U.K. Typhoons to deploy to Romania for air policing mission

Japan loans Manila military planes for South China Sea

NATO confirms Tillerson meeting Friday

US Senate advances approval of Montenegro into NATO

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Rig count hangover bruises crude oil prices
Under broader pressure from the so-called Brexit, crude oil prices moved lower early Monday on a hangover from higher U.S. exploration and production work. ... more
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Norwegian oil and gas production remained slow in February, report says
Norway produced an average of 2 billion barrels of oil, liquified natural gas and condensate in February - less oil and gas than was produced in January. Production numbers were also less than those posted in February of last year. ... more
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BP orders construction for new subsea production system
Schlumberger subsidiary OneSubsea has been contracted to provide a subsea production system for BP's Mad Dog 2 project in the Gulf of Mexico. ... more
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Johan Sverdrup moves forward with Phase 2 development
The Johan Sverdrup oil field on Norway's continental shelf will proceed with further development plans, Lundin Petroleum announced on Tuesday. ... more
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Iran pulls first oil out of South Pars field
The production of oil from the South Pars field complex in the Persian Gulf has started for the first time, the Iranian Oil Ministry declared. ... more
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Slow, steady economic growth for shale-rich Colorado
The economy for shale-rich Colorado is improving, though a tight labor market and pressure outside the energy sector may be constraining, a budget report finds. ... more
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Beijing shuts last coal power plant in switch to natural gas
The last large coal-fired power plant in Beijing has suspended operations, with the city's electricity now generated by natural gas, the state news agency reported as smog enveloped the Chinese capital this weekend. ... more
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Fitch: Azerbaijan's energy company facing mixed pressures
The state energy company of Azerbaijan, a party to OPEC-led balance efforts, beat its peers in terms of revenue, but remains pressured, a ratings agency said. ... more
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