Oil and Gas News

June 15, 2015

Total U.S. oil production increases
Washington (UPI) Jun 11, 2015
Total U.S. crude oil production reached 9.6 million barrels per day, with output from the Lower 48 states showing some recovery, federal data show. The total U.S. crude oil production for the week ending June 5 was about a quarter of a percent higher than the previous week. The U.S. Energy Information Administration reports 9.1 million bpd came from the Lower 48 and 509,000 bpd came from Alaska, which in the EIA's last report was the lone standout in production gains. Though Alaska is th ... read more

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Hess brings partners to Bakken infrastructure U.S. midstream player Hess Corp. said it brought a new partner into its North Dakota operations with the goal of taking a pole position in the Bakken shale. ... more		Oil prices fizzle on so-so economic data Expectations of a short-term global decline in oil demand and a modest increase in U.S. unemployment sent crude oil prices lower in early Thursday trading. ... more		Survey: Mid-life crisis for North Sea oil sector Most oil and gas companies working in the North Sea canceled projects and about half have cut staff because of the weak oil market, a survey found. ... more
				Iran learning to cope with low oil sales Revenue generated from oil sales from Iran have declined dramatically, but the country needs to learn to cope, an Iranian government spokesman said. ... more		Spending planned in Colorado shale Colorado energy company Bill Barrett said it planned to invest more capital on drilling operations in the Denver-Julesburg shale basin in the state. ... more

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Chevron to rebuild in the Gulf of Mexico Chevron is spending money in the U.S. Gulf of Mexico to have existing installation removed and new equipment added in deep waters, French company Technip said. ... more		The Evolution Of The Oil Weapon Washington DC (SPX) Jun 11, 2015 In the age of derivatives, swaps, and electronic money transfers, a new form of warfare has emerged: financial warfare. Recently, the US has passed sanctions on cou ... more		Solar-driven ionosphere charges may nudge stressed faults toward rupture Stable black carbon in mangrove soils boosts coastal climate role Low crystallinity iron minerals show promise for chromium cleanup and carbon storage		'Myths' persist about the increase in human-caused seismic activity Seismologists studying the recent dramatic upswing in earthquakes triggered by human activity want to clear up a few common misconceptions about the trend. There is increasing evidence that these ea ... more
				UK oil firm accused of bribery in DR Congo national park British oil company Soco International paid off an army officer accused of silencing critics of exploration in Democratic Republic of Congo's Virunga National Park, an NGO alleged on Wednesday. ... more		OPEC no place for debate, Iran says Meetings between members of the Organization of Petroleum Exporting Countries are no place for debate, Iran's oil minister said. ... more

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Statoil sells home office to release cash Norwegian energy company Statoil said it sold its corporate offices in Stavanger and signed a 15-year lease with new owners in an effort to release capital. ... more		Despite ambitions, BP sees Russian gas waning BP in a statistic review said Russian natural gas production declined, just as the Kremlin holds out its reserves as a component of European energy security. ... more		AAA: Gas prices may have peaked The national average retail price for a gallon of regular unleaded gasoline in the United States is likely near its yearly peak, motor club AAA said. ... more		OPEC declared war, Texas regulator says The U.S. government needs to overturn a ban on crude oil exports as a counteroffensive to the oil war waged by OPEC, a Texas energy regulator said. ... more

	Crude oil shipper settles in Lac-Megantic rail disaster A company tied to the sale of the oil on the train that crashed in Lac-Megantic, Quebec, in 2013 said it agreed to contribute to a settlement for victims. ... more		Oil rallies on expected dip in U.S. shale An expected drop off in oil production from U.S. shale basins sent crude oil prices soaring in Tuesday trading, with WTI up more than 2 percent. ... more

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Iran says end of sanctions could lift oil output by 1.0 mn bpd

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