Oil and Gas News

July 03, 2015

Momentum builds behind giant Norwegian oil field
Oslo, Norway (UPI) Jul 2, 2015
Delineating which company holds what percentage of the interest in Norway's giant Johan Sverdrup field boosts development potential, executives said. Partners to Johan Sverdrup, the fifth largest oil field ever discovered on the Norwegian continental shelf, asked the government to determine the final share allocation when they submitted formal development plans in February. Maersk Oil, which takes the lowest stake at 8.4 percent, said the determination is a watershed moment for the offsh ... read more

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Oil prices rebound after dismal week Crude oil prices recovered some of the ground lost in recent sessions on the back of steady U.S. labor figures and assessments over Iranian nuclear talks. ... more		BP to pay record $18.7 bn over Gulf of Mexico oil spill British energy giant BP said Thursday it had agreed to pay a record $18.7 billion to compensate the US government and five states for damages stemming from the deadly 2010 Gulf of Mexico oil spill. ... more		U.S. proposes tighter pipeline spill rules A proposal requiring pipeline operators to report spills within an hour of their discovery will help mitigate damage, the U.S. transportation secretary said. ... more
				Russian, Ukrainian gas talks collapse European leaders said they'd get to work on proposing new strategies after natural gas talks between Russian and Ukraine collapsed in Vienna. ... more		Shell to tap new Gulf of Mexico oil Royal Dutch Shell said Wednesday it made a final investment decision to open up new oil developments in the deep waters of the U.S. Gulf of Mexico. ... more

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Norway: New reserves found in North Sea The Norwegian government confirmed Wednesday oil and gas reserves were discovered in a North Sea area not known previously to contain hydrocarbons. ... more		CCNY researchers develop eco-friendly oil spill solution City College of New York researchers led by chemist George John have developed an eco-friendly biodegradable green "herding" agent that can be used to clean up light crude oil spills on water. ... 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		Argonne analysis shows increased carbon intensity from Canadian oil sands The U.S. Department of Energy's Argonne National Laboratory this week released a study that shows gasoline and diesel refined from Canadian oil sands have a higher carbon impact than fuels derived f ... more
				Greek default leaves bruise on oil markets The Greek default on debt to the International Monetary Fund in a market mindful of the causes of the global financial crisis sent oil prices lower Wednesday. ... more		Canada awards license for LNG exports to Asia A Canadian energy regulator said it approved an export license that allows Quicksilver Resources to send liquefied natural gas to Pacific Rim markets in Asia. ... more

BP engineer to get new Macondo trial An appeals court in Louisiana said it granted a new trial for a former BP engineer, Kurt Mix, on grounds of jury exposure to external evidence. ... more		China starts work on Russian gas pipeline Construction on the Chinese side of a natural gas pipeline linking to Russia began in western Heilongjiang province, a Chinese energy company said Tuesday. ... more		Northrop Grumman moves to boost B-21 Raider output Telus and AST SpaceMobile plan direct-to-phone satellite service across Canada How Can Traffic Camera Footage Help Prove A Car Accident Claim In Rock Hill		July 4th gas to be cheapest since at least 2010 Though seasonally high, U.S. holiday goers are expected to pay the lowest price for gas during the July 4th weekend in at least five years, motor club AAA said. ... more
German government postpones parliamentary vote on fracking The German government said Tuesday it has decided to postpone until after the summer break a parliamentary vote on a draft law on the controversial technology of "fracking" in Germany. ... more		Vitol buys into Nigeria downstream sector Dutch oil trader Vitol said Tuesday it spent around $27 million to take on a majority stake in the refining business held by Nigerian energy company Oando. ... more		Samsung gets major Johan Sverdrup contract A day after the first steel was cut for the platform, Statoil said it awarded Samsung with an $886 million contract for Johan Sverdrup field development. ... more		Eni reaches LNG deal in Indonesia Italian energy company Eni said Tuesday it signed what it said was a groundbreaking deal to sell liquefied natural gas from a deepwater Indonesian field. ... more

	SCOTUS says no to Gulf of Mexico spill appeals The Supreme Court refused to hear two separate cases filed by BP and Anadarko Petroleum challenging fines related to the 2010 oil spill in the Gulf of Mexico. ... more		North Dakota refinery completed The completion of a new refinery in North Dakota will help bring jobs to the state while ensuring U.S. energy security, Gov. Jack Dalrymple said. ... more

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