Oil and Gas News

June 23, 2015

Tullow settles Ugandan tax dispute
London (UPI) Jun 22, 2015
Settling a long-running tax dispute with the Ugandan government is a positive development for the nation's energy sector, Tullow Oil announced Monday. Tullow said it agreed to pay $250 million in a final out-of-court settlement with the government of Uganda. The Ugandan government ordered the company to pay $437 million in capital gains tax following the 2012 sales of oil field licenses to French energy company Total and the China National Offshore Oil Corp. Tullow appealed the charges, ... read more

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Jun 17

Oil markets stable, Russian minister says From the Russian perspective, the situation in the global crude oil market is starting to stabilize, the minister of economic development said. ... more		Oil prices remain below June 1 level Oil prices started the last full trading week in June in stable territory as the Greek debt crisis continues, but prices are still below June 1 levels. ... more		North Dakota upstream holding steady One week after the state governor touted economic diversity, data from North Dakota show stability in the exploration and production side of the energy sector. ... more
				Lundin reshuffles executive lineup Swedish energy company Lundin Petroleum said Monday it would appoint new talent to lead the company as it charts a long term strategy for growth. ... more		More than 87 miles of oiled Calif. beaches cleared A unified command responding to the May oil spill off the California coast said more than 90 percent of the contaminated shorelines have met cleanup goals. ... more

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US mid-continent seismicity linked to high-rate injection wells A dramatic increase in the rate of earthquakes in the central and eastern U.S. since 2009 is associated with fluid injection wells used in oil and gas development, says a new study by the University ... more		Five new calcium carbides: Unique reducers and new hydrocarbon synthesis methods A team led by MIPT Professor Artem Oganov has used computer simulation to predict the existence of five completely new compounds of carbon and calcium with varied chemical and physical properties, o ... more		As world burns, India's Amitav Ghosh writes for the future Fire on Ice: The Arctic's Changing Fire Regime Cosmic krypton timestamps reveal Australia landscape evolution and resources		PBF expands Gulf of Mexico refinery footprint Independent refiner PBF Energy said it will spend more than $300 million to acquire a Louisiana oil refinery from Exxon and its Venezuelan affiliates. ... more
				Oil prices drift lower on U.S. output statements Concerns about the trajectory of crude oil prices trumped reports of increased demand in the United States, sparking a retraction in early Friday trading. ... more		Wintershall unloads offshore Norwegian assets German energy company Wintershall said it was working to streamline its capital structure by selling off a handful of assets on the Norwegian continental shelf. ... more

Army Network Modernization 2015 - Washington DC June 23-25

Russian gas giant Gazprom extends reach Russian energy company Gazprom during an investment forum in St. Petersburg has moved to strengthen its global hand with a new deck of proposals. ... more		Busting The "Canadian Bakken" Myth The financial pages of Canadian newspapers have been full of Busting The "Canadian Bakken" Myths lately announcing the potential of two large shale oil fields in the Northwest Territories said to co ... more		GE and Lockheed validate compact rotating detonation ramjet for hypersonic missiles JWST red dots reveal rapidly growing early black holes Spaceflight study links astronaut biology to reversible shifts in epigenetic age		The Dark Side Of The Shale Bust By Nick Cunningham of Oilprice.com The fallout of the collapse in oil prices has a lot of side effects apart from the decline of rig counts and oil flows. Oil production in North Dakota has explode ... more
U.S. shale oil in slow decline While oil production from key shale formations in the United States is in decline, the drop isn't as severe as expected given low rig counts, analysis finds. ... more		Rig company Hercules stumbles U.S. rig company Hercules Offshore said it reached a restructuring agreement that could lead to a reorganization plan or bankruptcy filing in the coming weeks. ... more		Crude oil prices try again to rally Crude oil prices rallied modestly in early Thursday trading after the U.S. Labor Department said the unemployment situation continued to improve. ... more		OMV, Gazprom mull pipeline expansions Adding two new lines to the twin Nord Stream natural gas pipeline sending Russian gas to the European market is under consideration, Austrian company OMV said. ... more

	Total U.S. crude oil imports up Total U.S. crude oil imports for the week ending June 12 spiked more than 6 percent, with Middle East producers contributing to the rise, federal data show. ... more		IHS: Russian defense cut on low energy revenue Financial pressures that resulted from lower revenues from the energy sector has forced the Russian government to cut back on defense spending, analysis finds. ... more

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Oil prices fizzle on so-so economic data

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Iran learning to cope with low oil sales

Spending planned in Colorado shale

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