Oil and Gas News

December 10, 2014

Oil price drop a conspiracy, Iran's president says
Tehran (UPI) Dec 10, 2014
While describing the slump in oil prices as a plot against Middle East producers, Iran's president said Wednesday it's time to wean the budget from oil. "The slide in crude oil prices is not merely an economic issue, and it stems from a conspiracy and political planning by certain countries," President Hassan Rouhani said. Price variances among the 12 blends from the Organization of Petroleum Exporting Countries are seen by some as a sign of internal rivalries among producers that can wi ... read more

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BP's Dudley seeks to right the ship At a time when crude oil prices continue to shed value, BP Chief Executive Officer Bob Dudley said Wednesday he was working to "right-size" the company. ... more		Low gas prices will be commonplace, market analysts say While there is a floor for U.S. gasoline prices, there are few signs pointing to an end to a new era of relief at the pump, price watchers said. ... more		Oil prices slump in response to OPEC report Crude oil futures suffered another blow Wednesday as OPEC in its monthly market report for December trimmed its forecast for global oil demand for 2015. ... more
				New study measures methane emissions from gas wells A team of researchers from the Cockrell School of Engineering at The University of Texas at Austin and environmental testing firm URS reports that a small subset of natural gas wells are responsible ... more		Medvedev: Russia never recovered from '08 collapse Russia's economy, burdened by sanctions targeting its energy sector and low prices, hasn't recovered from the 2008 crisis, the prime minister said Wednesday. ... more

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Technology-dependent Emissions of Gas Extraction in the US Not all boreholes are the same. Scientists of the Karlsruhe Institute of Technology (KIT) used mobile measurement equipment to analyze gaseous compounds emitted by the extraction of oil and natural ... more		Liu Tienan: from planner to prisoner, via mistress Over decades as a Chinese technocrat, Liu Tienan rose to become one of the top planners of the world's second-largest economy, but was brought down by a former lover. ... more		Typhoon Ragasa hits south China after killing 15 in Taiwan Toxic homes a lasting legacy of Los Angeles fires Climate change causing havoc with global water cycle: UN		Canada vows to make pipelines safer The Canadian government said it's committed to a world-class regime for pipeline safety, calling for new "polluter pays" rules and other control measures. ... more
				New Zealand drawing more energy interest More and more energy companies are flocking to take advantage of the potential offshore New Zealand, the country's energy minister said Tuesday. ... more		Kremlin lauds ties with energy-hungry China The growing relationship between Russia and China in the new century is supported in part on energy agreements, Russia's foreign minister said Tuesday. ... more

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Canada will only curb oil sector emissions when US does: PM Canada will only impose regulations to cut carbon emissions from its oil and gas sector - its top source of emissions - if and when the United States moves to do the same, the prime minister said Tuesday. ... more		Is natural gas a 'bridge' to a hotter future? Natural gas power plants produce substantial amounts of gases that lead to global warming. Replacing old coal-fired power plants with new natural gas plants could cause climate damage to increase ov ... more		NASA says on track to send astronauts around the Moon in 202 NASA launches mission to study space weather NASA's ESCAPADE craft returns to Florida for fall mission to Mars		British shale pioneer courts local labor pool The labor pool in Lancashire is ready to usher in the new era of British shale natural gas, the top executive at shale pioneer Cuadrilla Resources said. ... 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		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		Conoco shale spending plans down for 2015 U.S. energy company ConocoPhillips said it was trimming its capital spending program for 2015, with funding targeting U.S. shale basins down 20 percent. ... more		Zero carbon emission goal not 'realistic': Saudi Arabia Setting a target of zero carbon emissions by 2050 is not "realistic," Saudi Arabia's chief negotiator at UN talks for a new, world climate pact said in Lima Monday. ... more

	WTI, Brent rebound after historic slump Global crude oil indices recovered Tuesday from the previous session's lows as U.S. Secretary of State John Kerry brushed off allegations of a price war. ... more		$2.50 gas by Christmas, AAA says The U.S. national average price for a gallon of regular unleaded gasoline could fall another 16 cents to $2.50 by Christmas, motor club AAA said. ... more

US lawmaker warns of military 'misunderstanding' risk with China

Spain approves 'total' arms embargo against Israel

Khamenei says Iran 'won't yield' to pressure to abandon uranium enrichment

Eni brings more oil online offshore Angola		Kazakhstan unveils massive investment program		IMF: Less Iraq contraction in 2014 on rising oil output		Abandoned oil and gas wells emit 'significant' methane: study		US Supreme Court rejects BP challenge to Gulf settlement
Oil prices down after lacklustre Chinese trade data		No floor yet for Brent crude oil		Montney companies seek more infrastructure		Russia, U.S. each praise Iraqi oil developments		Biden: Iran feeling squeeze of lower oil prices

Oil spill Israel's 'biggest ecological disaster': expert

Statoil suspends rig operations in rough market

Low appetite dragged South Stream down

Kurdish oil market evolving quickly

Gazprom gets $480 million credit assurance

WTI shrugs off modest economic data

U.S. rig count steady, Baker Hughes finds

Zhou Yongkang: oil man whose well of power finally ran dry

Sanctions show West is fearful, Putin says

South Stream decision 'final'

WTI falls despite lower U.S. inventories

Experts urge Norway oil fund to consider climate criteria

North Dakota unfazed by low oil prices

Texas study finds chink in U.S. shale gas armor

Kazakhstan keen on TAPI gas pipeline

U.S. shale player ONEOK resilient

Iraqi oil deal good for security, U.S. says

Eni reviews market conditions with Venezuela

Few contractors vocal on South Stream status

Oil markets search for traction

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