Oil and Gas News

August 15, 2014

Vitol forms downstream business entity in Australia
Geneva, Switzerland (UPI) Aug 13, 2013
Energy and commodity trading company Vitol said Wednesday it launched a retail business service in Australia after acquiring assets from Royal Dutch Shell. Vitol said it formed Viva Energy Australia, a downstream energy business comprised of the Geelong refinery in the country, as well as 870 retail fueling centers. Viva Energy Chief Executive Officer Scott Wyatt said Vitol has a century-long history in Australia, a position strengthened by the new business entity. "We expect to i ... read more

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Production from Utica shale at healthy clip, EIA says The U.S. Energy Department said it was including the eastern Utica shale formation in a monthly productivity report because of exponential growth in output. ... more		EU gas production in track to decline, Russian report says Natural gas production from members of the European Union is expected to decline by more than 40 percent in the coming years, Russian analysis Wednesday finds. ... more		New England heating fuel supplies bolstered The North American subsidiary of GDF Suez said it was buying liquid natural gas from a Montreal company to address upcoming demand in New England. ... more
				Oil services company Schlumberger latest to fret over Russia Oil services company Schlumberger said it expects to take a financial hit as a result of Western sanctions targeting the Russian energy sector. ... more		U.S. on pace to approach record level of oil production Total crude oil production in the United States in July was the highest level in more than a quarter century, the U.S. Energy Department said. ... more

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On balance, Germany energy company E.ON did well German energy company E.ON said Wednesday its exploration and production activity in the North Sea was the bright spot in an otherwise poor fiscal report. ... more		French bank tasked with helping unload Citgo Venezuela's state-owned oil company has hired a French bank to help offload Citgo, its U.S. downstream entity, an executive at the company said. ... more		NASA ISRO radar satellite beams first Earth images from space Morocco High Atlas whistle language strives for survival China warns Papua New Guinea over Australian defence deal		China's oil imports account for more than half of supplies Chinese imports of crude oil during the second half of the year are expected to account for more than half of its supplies, an industry analyst said Wednesday. ... more
				ONGC Videsh signs production sharing contracts in Myanmar Indian oil company ONGC Videsh announced it signed two production sharing contracts for onshore exploration with partners in Myanmar. ... more		Dalrymple leans on Washington for safer oil delivery North Dakota Gov. Jack Dalrymple said he was pressing the U.S. energy secretary on comprehensive ways to make crude oil transportation safer. ... more

Economic rebound should cause oil demand to rise, IEA says Global demand for oil should accelerate by 1.3 million barrels per day in 2015, a 30 percent increase, because of economic recovery, the IEA said from Paris. ... more		Difficult security situation in Yemen, Libya hurt OMV Disruptions in Libya were in part to blame for the 37 percent decline in second quarter profits, Austrian oil and gas company OMV said Tuesday. ... more		Collision of equal sized bodies may explain Mercurys unique composition Gravitino emerges as contender in dark matter search Molecular 'fossils' offer microscopic clues to the origins of life - but they take care to interpret		Iran says erasing sanctions would provide global benefits Removing sanctions on Iran will benefit the regional and global economies, Iranian President Hassan Rouhani said Tuesday from Tehran. ... more
Moscow continues to cry foul over Yukos ruling An arbitration panel at The Hague decided its case against former Russian oil company Yukos on political grounds, Russia's deputy foreign minister said Tuesday. ... more		Who Needs Russia? Ukraine Will Destroy Itself With New Gas Tax Ukraine doesn't need Russia to take it down-Kiev is doing fine destroying itself, most recently with a new tax code that doubles taxes for private gas producers and promises to irreparably cripple n ... more		Utica may be the strongest gas play yet, Rice Energy says Rice Energy, a company focused on eastern U.S. gas basins, said Monday natural gas output from Utica shale is among the highest it has seen so far. ... more		Canada-US pipeline may spark more emissions than expected: study A proposed pipeline from Canada to the United States may result in much higher greenhouse gas emissions than previously calculated as it could fuel greater oil consumption through higher production and lower prices, a study said Sunday. ... more

	Abu Dhabi National Energy halts work in Iraq Production from the Atrush block in the Kurdish north of Iraq should start in 2015 but operations are on hold because of the violence, energy company TAQA said. ... more		Rosneft, Exxon start work in arctic waters of Kara Sea Operations with Exxon Mobil in the arctic waters of the Kara Sea should be on par with those in North America or Saudi Arabia, Russian oil company Rosneft said. ... more

EU states to hold talks on 'drone wall' to protect bloc

Denmark military intel fails to identify source of drone flights

Lithuania eases rules on shooting down drones

Chad scraps Chinese oil permits over alleged environmental violations		Russia's Bashneft signs on as operator at Myanmar oil block		Russian media suggest gas talk schedules under review		Woodside, Noble Energy set sights on oil off Gabon's coast		Researchers purposefully spill oil into the North Sea
OPEC says Libyan oil production at highest point this year		More crude oil carrying capacity at Edmonton terminal		Genel, others, evacuate non-essential staff from Iraq		Failed Statoil campaign a told-you-so for Greenpeace		Slow hurricane season good for U.S. energy

Thailand's PTTEP signs $72 million exploration deal in Myanmar

Canadian oil company said oil seepage cleaned from Alberta

Iran wants to strengthen energy ties with Azerbaijan

Oil prices gain as US eyes possible action in Iraq

Statoil empty-handed after summer Arctic drilling campaign

Gulf Keystone Petroleum says Kurdish oil secure

Pakistan could have first LNG terminal open by year's end

GDF Suez makes final decision on Cameron LNG facility

Russian billionaire considers who fills energy holes

Frontier Hoop area, ire of Greenpeace, empty for Statoil

The Bigger Oil Story Behind the Headlines

Mexican energy sector opening to private investors

Baker Hughes shows U.S. leads in active rigs with 1,819

Russia oil exploration sector target of Canadian sanctions

More energy exports spell benefits for U.S., API says

Lundin Petroleum faced with ongoing delays offshore Norway

Genel boss Hayward ties oil production to Kurdish exports

Russia, Iran set oil-for-goods contract talks

Advocacy group warns of new fracking fallout

Parties get behind Colorado energy task force

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