Oil and Gas News

March 25, 2015

100,000 Layoffs and Counting: Is this the New Normal
London, UK (SPX) Mar 23, 2015
This time a year ago, the oil industry's biggest problem was finding a way to deal with the "retirement tsunami" about to crash down on it as older oilfield workers hung up their cork boots to enjoy freedom-55. Now, with oil prices still in the doldrums, many of those same workers are lucky to be hanging onto their jobs, while others have been booted from the payroll as an ugly wave of layoffs takes hold. One of the worst-affected areas is the Canadian oil sands, where a higher per-barrel cost of ... read more

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U.S. oil price up from six-year low U.S. dollar movements and economic signals from China helped push crude oil prices above the recent floor in early trading Tuesday. ... more		US gas boom slashes gas prices The recent shale gas boom ("fracking") in the United States has been beneficial to the economy, dropping natural gas prices 47 percent compared to what the price would have been prior to the frackin ... more		New 450-kW gas cogeneration system to debut in Japan Mitsubishi Heavy Industries, Ltd. ( MHI) and Toho Gas Co., Ltd. have jointly developed a new 450- kilowatt (kW) gas cogeneration system to be launched into the Japanese market by both companies on A ... more
				Tight spending new normal for U.S. shale "Financial prudence" will be the new normal for developments in shale basins in the United States in the era of low oil prices, the head of Schlumberger, the world's largest oilfield services company, said. ... more		Russia's Lukoil committed long term to Iraq Russian oil company Lukoil said it's committed long term to the development of the lucrative West Qurna basin in southern Iraq. ... more

Human 2 Mars Conference Mat 5-7 2015 - Washington DC

Nuclear Decommissioning Conference Europe May 2015

Iran expects oil market influence Any nuclear deal with Iran and multinational powers will pave the way for more oil exports and therefore influence world markets, a lawmaker in Tehran said. ... more		UK 'military lobby' behind Falklands beef-up: Argentina Argentina said Tuesday that Britain's plan to beef up its defenses in the Falkland Islands was a wasteful initiative pushed through by the military lobby. ... more		Climate change causing havoc with global water cycle: UN Schools shut, flights cancelled as Typhoon Ragasa nears Hong Kong Over 60,000 Europeans died from heat during 2024 summer: study		Oil mixed on weak Chinese data Oil prices traded mixed Tuesday as the market weighed disappointing manufacturing data out of top energy consumer China. ... more
				'No blacks' Chinese restaurant shut down in Kenya A Chinese restaurant in the Kenyan capital Nairobi has been shut down and its owners summoned by authorities after it emerged it was barring black patrons, reports said Wednesday. ... more		Australia's Woodside cuts jobs Australian energy company Woodside Petroleum said Tuesday it was cutting several hundred jobs from its payroll in an effort to adjust to slumping oil prices. ... more

ADB tells Pakistan to seize moment on low oil prices Pakistan needs to attract financial capital to its power sector in order to take full advantage of lower crude oil prices, the Asian Development Bank said. ... more		AAA: U.S. gas prices drifting lower nationally Though an end to winter and Great Lakes refinery issues mean pain at the pump for some, low crude oil prices are a governor on gas prices, AAA said. ... more		NASA Dragonfly Mission Advances Through Crucial Development and Testing Stages SATNUS completes third NGWS flight campaign with autonomous systems integration SFL Missions to Deliver Spacecraft Buses for HawkEye 360 RF Signal Detection Expansion		Russian currency stabilizing despite oil's fade The value of the Russian currency has stabilized despite the fading of the February rally in crude oil prices, the Russian finance minister said. ... more
Sanctions push Total towards China to finance Russia project: report French energy company Total is seeking the equivalent of up to $15 billion from Chinese investors to finance its part of the development of a giant gas field in Russia due to US sanctions, the Wall Street Journal reported Monday. ... more		China's Sinopec net profit slumps nearly 30% in 2014 Chinese energy giant Sinopec said net profit slumped 29.7 percent in 2014, blaming a "precipitous" drop in global crude oil prices and issuing a first-quarter profit warning. ... more		Saudi king invites Iraq PM to visit as ties thaw Iraqi Prime Minister Haider al-Abadi received an invitation from King Salman to visit Saudi Arabia, as relations between the two nations improve, the premier's office said. ... more		U.S. lifts threat warning in Saudi Arabia The U.S. Embassy in Riyadh said it resumed consular services in Saudi Arabia nearly two weeks after threats to Western oil workers surfaced. ... more

	Oil prices falter as OPEC stands firm Crude oil prices drifted lower in early Monday trading as markets remain tilted toward the supply side and OPEC shows no signs of drawing down. ... more		North Sea tax policies short-sighted, Scotland says The North Sea energy sector has paid a "heavy price" because of the policies embraced by the British government, Scotland's deputy first minister said Monday. ... more

HawkEye 360 expands signals intelligence network with operational deployment of Cluster 12

York confirms successful deployment and health of 21 satellites for SDA Tranche 1 mission

Spain faces uphill battle to cut Israel military ties: experts

Iran expecting economic growth		Sinopec facing era of slower growth		U.S. releases new federal fracking rules		Exxon done with 2011 oil spill cleanup		Wintershall defiant in low oil price era
U.S. dollar, Iran talks sway oil markets		Low oil prices may hurt Colorado economy		U.S.: Security risks in oil-rich Saudi region		Statoil 'highly impacted' by low oil prices		Gulfsands Petroleum still keen on Syrian oil

North Dakota reviews oil-train safety

Shell unloads Nigeria assets

Rig data paints mixed oil picture

Russia expects some economic recovery by 2016

Oil prices hammered by U.S. storage, OPEC resilience

U.S. oil train rules inadequate, senator says

Transocean to scrap four drilling rigs

Libyan Investment Authority remains upbeat

Iraq makes $412 mn payment to Kurdistan region: minister

NOAA slams BP statement on gulf environment

Canada's Nexen announces layoffs

U.S. working to cut flaring of natural gas

U.S., Canada under pressure on oil-train safety

West Texas Intermediate in free fall

Conoco becomes latest energy company to cut spending

BG Group starts oil production in Norwegian waters

Kurdish oil production to increase

China probes top executive of state energy giant CNPC

Iran reports economic growth momentum

Oil prices continue slide amid oversupply

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