Oil and Gas News

January 26, 2015

Oil Price Collapse Hurting Some More Than Others
Washington DC (SPX) Jan 26, 2015
U.S. oil and gas rig counts dropped to their lowest level in over four years, falling by an additional 74 units for the week ending on January 16. The lower count provides fresh evidence that low oil prices are forcing drillers to pare back operations and slash spending. While that may soon begin to cut into actual production figures, a new Wood Mackenzie report finds a lot of nuance in the oil patch, painting a complex picture of what to expect in 2015. The report identifies several trends beyond ... read more

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Russian economy in bad shape, minister says Russian economic woes predate the steady decline in oil prices and sanctions triggered by crises in Ukraine, a Russian minister said Friday from Switzerland. ... more		Canada's ambassador presses Obama on Keystone pipeline Canada's envoy to Washington urged US President Barack Obama Thursday to approve the long-delayed Keystone XL oil pipeline, saying he wants to "correct the myths" about the controversial project. ... more		Back To Basics: Why Conventional Drilling Makes Sense in 2015 This New Year, an old trend may become a new trend as conventional drilling in North America is once again in the spotlight at a time when oil prices continue their slump and the unconventional beco ... more
				British shale ambitions hit snag County officials in the heart of the fledgling British shale natural gas sector balked on a permit Wednesday for Cuadrilla Resources because of noise pollution. ... more		Montana oil spill contaminates water supply Residents in a Montana community affected by the Yellowstone River oil spill are urged to find alternative sources of drinking water, a county government said. ... more

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Oil markets follow Shanghai Composite's lead Crude oil futures followed Wednesday's recovery in the Shanghai Composite Index to partially erase the historic slump seen in the previous session. ... more		Norway draws record offshore interest German energy company Wintershall said Wednesday there were emerging opportunities offshore Norway, where it's one of the largest stakeholders. ... more		China bids to host secretariat of new high seas treaty China's birth rate falls to lowest on record: official data South Africa flood toll rises, large parts of Mozambique submerged		Keystone XL: An elephant in the room While touting oil independence during his State of the Union, it was the one word missing from the address, Keystone, that drew criticism for President Obama. ... more
				Hayward's Genel keeps chin up despite slump Though expenses for the year will be cut to adjust for low oil prices, British explorer Genel Energy said Wednesday its Iraqi oil production was resilient. ... more		Philippines says China expanding South China Sea reclamation Philippine officials accused China on Wednesday of expanding reclamation work in disputed waters of the South China Sea, as the United States again called for restraint in the territorial conflict. ... more

Moscow: Turkish Stream the new South Stream Moscow said Wednesday a Turkish gas project will help ensure European energy security, the same reason given for the abandoned South Stream pipeline. ... more		Montana continues oil spill response While Montana officials said a water plant is clear of contaminants, environmental responders advised against eating fish caught near the site of an oil spill. ... more		Interstellar raises major Series F funding to expand launch and satellite business Atomic 6 debris shields selected for Portal Space Systems mission ExoAnalytic tools to power FireSat wildfire monitoring constellation		Ukraine, Poland ink gas pipeline deal The Ukrainian prime minister announced a pipeline deal with neighboring Poland that diversifies the energy sector with better access to liquefied natural gas hubs. ... more
Schlumberger takes stake in Russian driller Oil services company Schlumberger said Tuesday it spent roughly $1.7 billion to take a minority stake in a Russian driller, a week after announcing layoffs. ... more		Russia taps Far East oil field Hobbled by sanctions, Russian energy company Rosneft announced it joined its U.S. partners at Exxon Mobil in starting oil production from a Far East field. ... more		Norway updates Arctic ice map in boost to oil exploration Norway wants to redefine the contours of the Arctic ice edge, the government announced Tuesday in a controversial decision that would further open the Barents Sea to oil and gas exploration. ... more		Clean energy risks over oil price fall: French minister The fall in oil prices poses a threat to global efforts to boost renewable energy use and lower carbon emissions, France's ecology and energy minister said Monday. ... more

	Bulgaria: We're here to serve EU energy Bulgaria can serve as an important energy bridge for members of the European Union, Bulgarian Foreign Minister Daniel Mitov said. ... more		British shale set for real-time monitoring In a regional first, the British Geological Survey said Thursday independent monitors would study two hydraulic fracturing sites in Lancashire in real time. ... more

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Schlumberger latest casualty of oil price decline		Repsol scraps oil probe off Canaries tourist islands		Oil price slump puts at risk clean energy push: experts		Gas exports down for Canada		Oil tries rally 2.0 in Friday session
Range Resources makes most of low price climate		Repsol ends Canaries oil probe due to poor deposits		BP: Gulf of Mexico fines will be on low end		Five Ways To Play The Oil Price Plunge		ITC Global And SES Deploy New Communications Network For Major Oil Producer

Banks mixed on impact of low crude oil prices

GOP pushes again to ease LNG exports

BP off hook for several billion dollars in oil spill fines

BP cuts North Sea workforce

Oil prices rally from brink of six-year lows

White House announces new methane emission controls

No change in oil export policy, White House says

Medvedev: Russian economy will endure

Oil markets tread water after World Bank report

Canada's Suncor Energy cuts spending plans

Eni strengthens role in Egypt

British fracking takes early steps

Russian economy in crisis mode

Iran out billions of dollars in oil revenue

The Real Cause Of Low Oil Prices

U.S. gas prices in a free fall, AAA says

Iran says Saudi will suffer more from oil price slide

More signs of Canadian oil slowdown

British economic slowdown dings oil prices

Cairn maintains North Sea focus

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