Oil and Gas News

October 14, 2014

Gas find puts reserves above 20 tcf mark for Statoil
Stavanger, Norway (UPI) Oct 14, 2014
A new natural gas discovery offshore Tanzania puts the total amount of reserves there at 21 trillion cubic feet, Norwegian energy company Statoil said Tuesday. Statoil and its joint venture partner, Exxon Mobil, announced the discovery of about 1.2 trillion cubic feet of natural gas in place at the Giligiliani-1 exploration well offshore Tanzania. The new discovery pushes the total of in-place gas reserves above the 20 trillion cubic feet mark. Nick Maden, regional exploration director f ... read more

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Foster says it's helping Pemex with reform agenda at refinery Oil services company Foster Wheeler said Tuesday it was awarded a contract in Mexico that is part of the country's emerging energy reform. ... more		Low demand, high production means cheap gas, AAA says The average price for a gallon of regular unleaded gasoline in the United States started the week at the lowest level of the year, motor club AAA reports. ... more		IEA trims forecast for global oil demand growth Lower economic growth expectations mean the forecast for global oil demand is down, but should recover in 2015, the International Energy Agency said Tuesday. ... more
				Gazprom says it's made up for Ukrainian row Second quarter profits for the year are up, which offset some of the damage incurred by contracts with Ukraine, Russian gas company Gazprom said Tuesday. ... more		All systems go for Power of Siberia gas pipeline, Gazprom says All of the documents needed to proceed with the Power of Siberia natural gas pipeline to China are in place, the head of Russian gas company Gazprom said. ... more

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CNOOC expects 40,000 bpd from South China Sea startup China National Oil Co. said its latest startup in the South China Sea will reach a peak production rate of 40,000 barrels per day within three years. ... more		Lundin oil find in Barents Sea significant, company boss says At least 85 million barrels of oil are thought to be in the Alta prospect following a successful Barents Sea drilling campaign, Lundin Petroleum said Tuesday. ... more		Toxic homes a lasting legacy of Los Angeles fires 'Greatest con job ever': Trump trashes climate science at UN Turkey facing worst drought in over 50 years		Shale means U.S. more self-reliant on oil, OPEC says U.S. imports into the Gulf Coast region are at six-year lows because shale output is suppressing the need for foreign oil, OPEC said in a Friday report. ... more
				Kremlin says next EU, Kiev gas talks set for Oct. 21 The Kremlin said Friday it agreed on a date for the next round of talks aimed at resolving a Ukrainian gas issue endangering European energy security. ... more		Arctic campaign frustrates Statoil to delight of Greenpeace A small natural gas discovery in the arctic Barents Sea waters by Norway's Statoil shows the risky campaign isn't worth it, Greenpeace said Friday. ... more

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Caracas says it's victorious in Exxon expropriation case The government of Venezuela declared victory following a ruling by an international court regarding Exxon Mobil claims on the country's offshore oil. ... more		Tullow Oil upbeat on prospects for oil offshore Gabon Though reserves encountered so far off the coast of Gabon are non-commercial, Tullow Oil said Friday it was encouraged by the West African results. ... more		Western researchers support international collaboration for planetary defence NASA says on track to send astronauts around the Moon in 2026 Space: Framatome and ENEA sign MoU to explore advanced technological solutions for designing lunar nuclear fission reactors		Brine spill soils land, waterway, in North Dakota Waterways were soiled by the spill of an unknown amount of material used to produce oil and gas in a North Dakota county, the state government said. ... more
Will Ukraine Commit Economic Suicide By James Stafford of Oilprice.com Ukraine is on the brink of committing economic suicide after imposing a crippling 55 percent tax on private gas producers, while parliament prepares to vote on nex ... more		Lego caves in to Greenpeace and axes Shell partnership The world's largest toymaker Lego caved in to pressure Thursday from a hugely successful Greenpeace campaign targeting a deal with oil giant Shell and linking the iconic plastic bricks to catastrophic Arctic oil spills. ... more		Putin may meet Ukraine's Poroshenko in Italy: Kremlin Russian President Vladimir Putin may hold talks with his Ukrainian counterpart Petro Poroshenko on the sidelines of a summit in Italy next week, his aide said on Thursday. ... more		U.S. strikes aimed at disruptive IS oil financing Disrupting the ability of the group calling itself the Islamic State to raise funds through oil revenue is a key U.S. military objective, an official said. ... more

	EU leans on Serbia over South Stream gas pipeline The European Union said Serbia needs to get in line with regional energy regulations, notably as they relate to the planned South Stream gas pipeline. ... more		China signs off on Power of Siberia gas project with Russia China National Petroleum Co. said Thursday it received consent from the government to start work on the Power of Siberia natural gas pipeline from Russia. ... more

Taiwan running out of time for satellite communications, space chief tells AFP

US lawmaker warns of military 'misunderstanding' risk with China

Venezuela accuses US of waging 'undeclared war,' urges UN probe

More fracking planned by British shale pioneer IGas		Firms to invest $2.12 bn in Ecuador oil fields		U.N. report says Ukrainian gas issue a humanitarian concern		UK oil rig evacuated over ship carrying radioactive waste		U.S. strikes target IS-controlled oil refineries
Shell producing oil from first deepwater Malaysian well		Refinery startups, low oil prices, keep gas pain at bay		Norway sees low cash flow, pegged outlook to $103/bbl		Green advocates say EU tar sands nod is shameful		The World's 10 Biggest Energy Gluttons

Cairn announces major oil find offshore Senegal

Kiev says fair price for gas necessary

Enbridge offers oil pipeline assurances to Michigan

Serbia: South Stream a matter between Russia and Brussels

Petronas watching Canadian LNG debate unfold

Baker Hughes says U.S. rig count up 10 percent from 2013

NRDC poll finds most New Yorkers oppose fracking

Cyprus suspends peace talks over Turkish gas threats

Europe pulls back on oil sands designations

Chevron brings Kuwaiti partners to Canadian shale

Shale players Forest, Sabine close to tying knot

Ruble hits historic low against Western currency

Dutch grab of arctic oil angers Greenpeace

BG Group said Cairo paid off small portion of debt

London sees few land value concerns with fracking

Report: Islamic State losing oil grip because of airstrikes

Nuland: Sanctions pain depends on Kremlin actions

Gasoline prices moving lower, following oil price trend

API: Oil, gas boom came despite White House efforts

Spain to pay 1.35 bn euros compensation for aborted gas project

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