Oil and Gas News

December 07, 2014

Statoil suspends rig operations in rough market
Stavanger, Norway (UPI) Dec 5, 2014
Current market conditions are making it difficult to sustain drilling operations in Norwegian territorial waters, a procurement director at Statoil said Friday. The bear market for crude oil has forced some in the industry to scale back on their near-term investment forecasts. Brent crude oil prices traded near the $69 per barrel mark Friday for the January contract. Statoil procurement head Jon Arnt Jacobsen said the company was suspending contracts for four rigs because of lower profit ... read more

Previous Issues

Dec 06

Dec 05

Dec 04

Dec 03

Dec 02

Low appetite dragged South Stream down Low demand for natural gas in the European market may have been a factor in the Russian decision to revisit the South Stream pipeline, Fitch Ratings said. ... more		Kurdish oil market evolving quickly The market for crude oil produced in the Kurdish north of Iraq is evolving rapidly both in the domestic and foreign markets, an oil company executive said. ... more		Gazprom gets $480 million credit assurance With the Russian economy on the brink of recession, Russian gas company Gazprom said Friday it brokered a credit line for nearly half a billion dollars. ... more
				WTI shrugs off modest economic data Higher U.S. oil reserve data contributed to a Friday decline in the price for West Texas Intermediate crude oil, ignoring good news from the labor market. ... more		U.S. rig count steady, Baker Hughes finds While oil prices are moving near the point at which drilling may be too expensive, oil services company Baker Hughes said Friday the U.S. rig count was static. ... more

Tempur-Pedic Mattress Comparison & Memory Foam Mattress Review

Zhou Yongkang: oil man whose well of power finally ran dry Former top Communist Zhou Yongkang rose through China's state oil industry to become the country's internal security chief - and amassed so much power, according to analysts, that he brought about his own downfall. ... more		IHS: Islamic State financing war campaign with oil Oil is fueling the war chest for the group calling itself the Islamic State by more than $2 million per day, a study from consultant group IHS said. ... more		Philippines 'ghost' flood projects leave residents stranded Toxic homes a lasting legacy of Los Angeles fires 'Greatest con job ever': Trump trashes climate science at UN		Iranian economy tied too hard to oil, commissioner says The Iranian government should work to take oil revenue out of its total budget to protect the economy from market dynamics, a commissioner said Tuesday. ... more
				Sanctions show West is fearful, Putin says Sanctions targeting the energy sector are a response from a Western power base wary of the rise of post-Soviet Russia, President Vladimir Putin said Thursday. ... more		South Stream decision 'final' Kremlin decisions to end the pursuit of the South Stream natural gas pipeline project for Europe are final, the Russian energy minister said Thursday. ... more

Startup in the Land of the Rising Sun; A Japanese Solar Venture - by Bradley L. Bartz

WTI falls despite lower U.S. inventories Static U.S. oil production and lower inventories weren't enough to stave off a Thursday drop in West Texas Intermediate crude oil prices. ... more		Experts urge Norway oil fund to consider climate criteria An expert panel recommended Wednesday that Norway's sovereign wealth fund, the world's largest, give more consideration to climate change in its investments but stopped short of calling for it to spurn fossil fuels as demanded by environmentalists. ... more		Western researchers support international collaboration for planetary defence NASA says on track to send astronauts around the Moon in 2026 NASA's Parker Solar Probe Sails Through 25th Sun Flyby		North Dakota unfazed by low oil prices North Dakota's governor rolled out his budget plans for the next year, saying the state's financial position was strong despite fears sparked by low oil prices. ... more
Texas study finds chink in U.S. shale gas armor A study of shale natural gas plays in the United States finds some of the predictions for long-term growth may be overly optimistic, the journal Nature reports. ... more		Kazakhstan keen on TAPI gas pipeline Kazakhstan is interested in taking part in the multilateral natural gas pipeline project extending east from Turkmenistan, its government said. ... more		U.S. shale player ONEOK resilient U.S. shale player ONEOK said it expects substantial and ongoing growth for its operations moving forward despite a volatile commodity environment. ... more		Iraqi oil deal good for security, U.S. says An Iraqi deal ending a simmering impasse over oil is an economic victory as well as a blow to Islamic State insurgents, the U.S. State Department said. ... more

	Eni reviews market conditions with Venezuela While providing few specifics, Italian energy company Eni said Wednesday it was reviewing current world oil market conditions with its Venezuelan counterparts. ... more		Few contractors vocal on South Stream status Though most parties to the South Stream consortium are holding their tongues, an Italian company said it's received no formal notice the program was over. ... more

Trump to U.N.: 'Your countries are going to hell'

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

US lawmaker warns of military 'misunderstanding' risk with China

Oil markets search for traction		Putin: South Stream "will not be carried out"		Russian economy falters		Gas has been below $3 for a month		Migrant workers among 7 dead in Libya air raid
Iraq government, Kurds strike deal on budget, oil		U.N. welcomes Iraqi, Kurdish oil deal		Iran drafting budget based on oil at $70 per barrel		WTI falls as new Gulf of Mexico oil production begins		Ukraine needs to court investors, EU says

TransCanada halts pipeline terminal over endangered whales

Oil prices leave December gate steady

Oxy spin-off in California starts first trading day

Germany's Wintershall grabs Norwegian Sea position

Iraqi oil production depends on external mechanisms

Russia revisits oil-for-goods deal with Iran

Spain's Canary islanders protest against oil drilling

China Strengthening Claim To South China Sea Oil And Gas

WTI moves near price where it could hurt

China hikes gasoline, diesel consumption tax

Seized Greenpeace ship leaves Canaries after bail paid

Offshore oil drilling inspires maritime conflicts across the globe

House Republicans want export ban reviewed

Brent sheds close to $1 ahead of OPEC meeting

Iran Negotiations, OPEC Meeting Loom For Oil Markets

Give thanks for low gasoline prices

Pipeline to Pakistan still viable, Iran says

North Dakota reviews oil train safety measures

South Stream still on Russian table

Oil in positive territory on good economic data

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