Oil and Gas News

January 05, 2015

Iraq oil exports soar but low prices hit revenue
Baghdad (AFP) Jan 03, 2015
Iraq's oil exports reached their highest level in decades in December, the oil ministry's spokesman said on Saturday, but vital revenues were being hit by the plummeting prices of crude. Iraq exported 91.141 million barrels of oil in December for an average of 2.94 million barrels per day, the highest daily average since 1980, Assem Jihad told AFP, citing initial figures. December exports were far and away the highest in 2014, eclipsing the previous best month by more than 11 million barrels, ac ... read more

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Libyan oil tanker struck off Singapore's coast Maritime authorities in Singapore said Friday they deployed air surveillance teams to investigate oil spilled after two tankers collided off its coast. ... more		Venezuela's Maduro heads to China to seek financial aid Venezuelan President Nicolas Maduro begins a trip to China and OPEC member countries late Sunday in search of financial support as his country reels from falling oil prices and a tattered economy. ... more		Croatia grants 10 Adriatic energy exploration licences The Croatian government on Friday granted three groups the rights to explore for oil and gas in the Adriatic, as part of its bid to become a key energy supplier in the region. ... more
				Parts of Libya in the dark Power shortages that came as a result of fighting in and around the Libyan port city of Ras Lanuf are expected to continue, an electric company said. ... more		Cyprus warns Turkey against any new energy moves Cyprus warned Turkey Friday that if it re-entered the exclusive economic zone where Nicosia has licensed exploratory drilling there would be no chance of resuming stalled UN-brokered peace talks. ... more

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Iran's non-oil exports on the rise Non-oil exports from Iran have increased by around 20 percent since March as the economy broadens its diversity, a customs official said. ... more		Did The Saudis And The US Collude In Dropping Oil Prices? The oil price drop that has dominated the Did The Saudis And The US Collude In Dropping Oil Prices?s in recent weeks has been framed almost exclusively in terms of oil market economics, with most me ... 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		Venezuelan economy slips into recession Venezuelan President Nicolas Maduro said he'd unveil economic reform efforts next year as an economy linked strongly to oil prices slips into recession. ... more
				UN sees 'limited' impact of Bangladesh's Sundarbans oil spill United Nations experts said Wednesday they found "limited immediate impact" on the ecosystem of the world's largest mangrove forest in Bangladesh after a major oil spill early in December. ... more		Gazprom buys out South Stream partners Russian energy company Gazprom said it signed agreements with former joint venture partners to take full ownership of the South Stream gas pipeline group. ... more

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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		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		Russia takes more action to prop up ruble With low oil prices and Western sanctions taking their toll, the Central Bank of Russia said it was forced to take action to keep the national currency stable. ... more
U.S. oil export policies increasingly fluid A company planning exports of so-called condensate from the United States said it's operating according to precedent, though laws may be on the cusp of change. ... more		Baker Hughes: U.S. rig count up from last year The number of rigs actively exploring for or producing U.S. oil and gas reserves was down short term, but still up year-on-year, Baker Hughes reported. ... more		Crude oil prices slide on last day of 2014 Crude oil prices were pummeled in the early Wednesday session on dueling reports showing growing evolution in the U.S. oil market. ... more		U.S. clears Texas LNG export terminal U.S. federal regulators said they authorized Cheniere Energy, a liquefied natural gas pioneer, to move forward with its export terminal in Texas. ... more

	Libya pro-government forces shoot down militia chopper A Libyan jet shot down a militia helicopter Tuesday after Islamist-led fighters launched air strikes on a key oil terminal in the east of the country, a military spokesman said. ... more		Gazprom Neft hails oil success in Iraq Russian oil company Gazprom Neft said a third well now in service at the Badra oil field in Iraq ensures a production level of at least 15,000 barrels per day. ... 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

Car bomb near Syria gas plant kills 9: monitor		British energy players facing tight purse strings		Libya's losses mount as oil terminal burns		China's largest inland oil field depleting		The state of shale
North Dakota population hits record		China needing more energy, data show		Ukraine settles gas debt to Russia		Inventory data dings oil prices		Russia called on to suspend arctic oil ambitions

Texas drilling permits decline

Russia battles to contain Black Sea oil spill

Hess eyes Asian markets with Australian LNG

Tate Modern ordered to disclose BP funding

U.S gas price decline breaks '08 recession record

Oil prices tumble after Riyadh defends market position

U.S. economic lift boosts oil prices

Russia's Gazprom trims expenses

Exxon subsidiary hit with fines for gas operations

Dreams surface in Argentina's remote new oil hub

Moscow confirms status of South Stream

Russia may scrap arctic oil ambitions

Iran wary of regional oil conspiracies

Morocco natural gas reserves emerging

BG Group readies for first Australian LNG shipments

Statoil ready for work in vast North Sea field

Ruble will rise, Putin aide says

Crude oil prices riding global stock market waves

War hurting Libyan oil, but NATO rules out intervention

Keystone XL no longer makes sense, critics argue

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