Oil and Gas News

August 26, 2015

More oil than expected in Norwegian North Sea
Stavanger, Norway (UPI) Aug 25, 2015
The national energy regulator in Norway said preliminary results from a North Sea field show a potential increase in estimated recoverable oil reserves. The National Petroleum Directorate said it was reviewing the preliminary results from an appraisal well drilled by Lundin Petroleum in the Edvard Grieg oil field in the central section of the North Sea. "Preliminary calculations show that the results from the well may result in an increase of between 6.2 million and 50 million barrels of ... read more

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Refinery issues skewing U.S. gasoline prices Though at historic lows on average, refinery issues in the United States and higher demand put upward pressure on gasoline prices, retail market analyses find. ... more		Fitch Ratings: Gazprom showing durability While Russian energy company Gazprom is showing durability, its pipeline ambitions in Europe could face geopolitical and economic delays, Fitch Ratings said. ... more		Encana Corp. leaves Louisiana shale In an effort to cut debt, Canadian energy company Encana Corp. said Tuesday it was selling its shale natural gas assets in Louisiana for $850 million. ... more
				Chinese rate cut lifts crude oil prices A Chinese decision to cut a key interest rate, and signs of marginal growth, gave oil prices a lift in Tuesday trading, a day after steep global declines. ... more		Oil sinks as China fears roil markets Crude oil prices sank Monday after a plunge in Chinese equities raised fresh fears about China's faltering economy, the largest consumer of energy, and its impact on the global economy. ... more

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Statoil's Polarled pipeline becomes first to cross Arctic Circle Norwegian energy company Statoil said Friday a pipelaying vessel passed a milestone with construction of the Polarled gas pipeline crossing the Arctic Circle. ... more		Gallup: Low gas boosts opinion of energy industry In large part because of lower gasoline prices, a Gallup poll finds that most Americans surveyed said they're warming to the oil and gas sector. ... more		GUARDIAN Tsunami Detection Tech Catches Wave in Real Time Galileo daughter mission named Celeste to strengthen navigation resilience How quantum computers can be validated when solving unsolvable problems		Texas sees growth, but oil will throttle momentum Though job growth in Texas is expected to be strong, the low price of crude oil could throttle some of the forward momentum, the Dallas Federal Reserve said. ... more
				Scotland frets over oil, but posts economic gains The Scottish government said Friday it was on a streak of slow but steady economic growth, but cautioned risks remain from low oil prices and a weak Asia. ... more		More rigs added in North Dakota North Dakota's energy sector continued showing signs of resiliency in the depressed oil market by adding more rigs, state data show. ... more

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Russia's Lukoil sells China its stake in Kazakh oil producer Russia's Lukoil said it sold its stake in a Kazakh oil producer to a rival in Beijing just as China's economy falters and Kazakhstan's gets a $1 billion loan. ... more		Both sides framed Keystone XL Pipeline debate in Nebraska As supporters and opponents of the proposed Keystone XL (KXL) Pipeline testified at public hearings in Nebraska between 2010-2013, several interest groups attempted to frame the debate in different ... more		Orbit Over Obsolescence: How Satellite Constellations Are Replacing Cell Towers One Layer at a Time What 3I/ATLAS tells us about other solar systems SyntaxError: invalid decimal literal - What to Do		Australian energy company Santos posts heavy losses After reporting heavy losses in a weakened energy sector, Australian company Santos said Friday it was time to "institute a succession of leadership." ... more
What's Really At Stake With The Iran Nuclear Deal Recently, I wrote on these pages that a remarkable turnaround was taking place in the President's fortunes. It's an impressive display of rising from the depths of falling popularity last fall, and ... more		Shale technology - the new 'Swing' producer that sets global oil prices? The emergence of shale technology, particularly in the US, is dramatically challenging the conventional rules of the global oil markets, says Olivier Appert, President of the World Energy Council Fr ... more		Saudi Oil Strategy: Brilliant Or Suicide? In the last quarter of 2014, in the face of possible oversupply, Saudi Arabia abandoned its traditional role as the global oil market's swing producer and therefore it role as unofficial guarantor o ... more		The Saudi Oil Price War Is Backfiring Saudi Arabia has long enjoyed the status of being the top crude oil exporter in the world. With record production of 10.564 million barrels per day in June 2015, Saudi Arabia has been one of the maj ... more

	Nord Stream pipeline back in service The consortium in charge of a twin pipeline system carrying Russian natural gas through the Baltic Sea said it was finished with routine annual maintenance. ... more		Russia's Lukoil sells Kazakhstan stake to China's energy giant Russia's largest private oil firm Lukoil has sold some of its Kazakhstan stakes to China's energy giant Sinopec for $1.09 billion, the company said Thursday. ... more

U.S. defense in free fall

Saudi Arabia and Pakistan sign mutual defense pact

Brazil, Chile sign defense agreement

Britain and Iran to reopen embassies as ties thaw		Mexican oil swaps sparks calls for full U.S. exports		BP behind biggest gas spike since Hurricane Katrina		Conservation group questions TransCanada pipeline		U.S. Gulf still national energy priority
Oil storage data drives prices lower		Weak oil market drags on Norway's economy		Kremlin: No word yet on Turkish gas pipeline		British shale company nabs more acreage		Wood Mackenzie: Mexico oil swaps only slight U.S. move

US gives Shell permit for Arctic drilling

US proposes methane cuts for oil and gas industry

In split with Obama, Clinton opposes Arctic drilling

Rail fading from North Dakota oil transit

BP's Whiting outage behind end to gas price slump

Shell sees offshore Alaska as potentially significant

London opening oil and gas doors

U.S. to lift ban on oil exports to Mexico

Low interest in Gulf of Mexico energy auction

Crude oil prices fall despite positive economic news

Revenue cut by pipeline attacks, Kurdish government says

North Dakota oil sector showing resiliency

Japan, U.S. rigs ding oil prices

Israel opening offshore gas doors

No U.S. foothold allowed, Iran's supreme leader says

AAA: BP refinery outage means several weeks of expensive gas

Alberta producers review low-carbon agenda

Surveys begin at potential British fracking site

BP to appeal US ruling over gas market manipulation

TransCanada: Study shows pipeline safer than rail

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