Oil and Gas News

December 15, 2015

Another day, another drop in oil prices
New York (UPI) Dec 14, 2015
Crude oil prices suffered another loss Monday, with Brent taking the biggest hit on the back of pessimistic spending forecasts from big energy companies. Crude oil prices are in the midst of one of the longest losing streaks since the middle of last year, when weakening first emerged. Crude oil prices are off about 40 percent from this time last year and nearly 65 percent below peak 2014 levels. West Texas Intermediate, the U.S. benchmark price for crude oil, was moving lower at the star ... read more

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Dec 10

Seismic energy company Dolphin goes bust Seismic energy company Dolphin Group, headquartered in Norway, says it is considering bankruptcy proceedings because of the weak energy market. ... more		Oil prices slip further in Asia on supply woes Oil prices extended losses in Asia on Monday on fears that a global supply glut will last another year, with analysts saying the Paris climate deal likely will have no near-term effect on the commodity. ... more		Exxon starts new work in Indonesia ExxonMobil said it started operations at an onshore processing facility that will help boost oil production in Indonesia, the newest member of OPEC. ... more
				Shell wins Chinese clearance for BG takeover Energy major Shell's vast takeover of British rival BG Group has won approval from the Chinese government, it said Monday. ... more		Shell clears last hurdle for BG Group merger After clearing the last regulatory hurdle, Royal Dutch Shell said its planned merger with BG Group will require restructuring and a reduction in head counts. ... more

North Dakota rig activity stable Despite a steep drop in crude oil prices, the number of rigs engaged in exploration and production North Dakota is showing stability, state data show. ... more		Encana latest to trim 2016 budget Canadian energy company Encana said it was cutting its capital program for 2016 by 25 percent, though nearly all of its spending would focus on four key areas. ... more		Fossil fuels harm health from 'cradle to grave': report Trash, mulch and security: All jobs for troops in Washington Rising oceans to threaten 1.5 million Australians by 2050: report		Strippers Suffering From Low Oil Prices With Prices Below $50, what is a stripper to do? With OPEC breaking down and any kind of coordination among its members on price cuts looking increasingly unlikely, it now appears that oil prices co ... more
				Scientists develop diesel that emits far less CO2 Researchers from KU Leuven and Utrecht University have discovered a new approach to the production of fuels. Their new method can be used to produce much cleaner diesel. It can quickly be scaled up ... more		Murkowski: Oil the answer to national security Lifting a ban on U.S. crude oil exports could help address security issues for allies overseas more exposed to regional crises, U.S. Sen. Lisa Murkowski said. ... more

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BP makes headway in North Sea campaign British energy company BP said it started sea trials for a floating production platform that will serve as a hub for developments west of the Shetland Islands. ... more		Total starts new work offshore Congo French energy company Total said it secured a stronger foothold offshore Africa with the start of deep-water operations in Congolese waters. ... more		Orbit Over Obsolescence: How Satellite Constellations Are Replacing Cell Towers One Layer at a Time Constellations of Power: Smart Dragon-3 and the Geopolitics of China's Space Strategy The latest gaming tech to look forward to in 2025		Russian gas output could be lower Full-year Russian natural gas production could be off by about 2 percent because of what the government said was expectations of lower consumption. ... more
Repsol steps back from U.S. shale Spanish energy company Repsol said it was offering up a portion of its holdings in a U.S. shale basin in favor of a position in operations offshore Norway. ... more		Oil prices continue sharp decline Oil prices tumbled lower in Friday trading after the International Energy Agency became the latest to forecast a supply-heavy market enduring through 2016. ... more		Is Enbridge pipeline the next Keystone? A U.S. court in Minnesota said it lacked authority in a challenge to moves by Enbribge Energy to expand shipments through its Alberta Clipper oil pipeline. ... more		Chevron cuts 2016 budget U.S. supermajor Chevron Corp. said it was cutting its budget for next year by nearly a quarter as it focuses on options it considers reliable in the downturn. ... more

	Conoco latest to trim spending for 2016 ConocoPhillips said Thursday it was preparing for a sustained period of lower crude oil prices by making significant reductions in capital and operating costs. ... more		Oil services company Technip denies merger talks French oil field services company Technip denied speculation it was headed into a potential merger, touting its position as a world leader in the field. ... more

U.S. defense in free fall

U.S. and Saudis conduct Middle East's largest counter-drone exercise

Saudi Arabia and Pakistan sign mutual defense pact

Shell reviews New Zealand business		North Dakota oil sector bracing for slump		OPEC strikes again		Could Saudi oil obstruct a Paris climate deal?		ULC Robotics AND SGN Unveil The Next Generation Of Pipeline Robotics
White House opposes legislative efforts to erase oil export ban		NRDC claims win on bitumen debate		U.S. gas prices will be even lower next year		Oil prices recover some lost ground		Texas drilling activity slumps

BP expands footprint in Egypt

Why Is The US Reluctant To Bomb ISIS Oil Fields?

Woodside pulls offer for rival Oil Search

Outlook for Texas energy sector uncertain

AAA: Oil major factor in gas price slide

Oil prices move to historic lows

Struggle looms as Venezuela opposition vows to fix crisis

Israeli companies keen on Egyptian gas deal

Dana Gas says Kurds owe $11 billion

Turkey mulling retaliatory sanctions on Russia: PM

Is Washington Attempting to Torpedo Nord Stream 2

OPEC hangover sends oil sharply lower

Rig counts down 16 percent year-on-year

Transocean lands offshore Canadian rig deal

North Dakota rig counts hold steady

Afghanistan gets energy security grants

Russian sanctions on Turkey cut both ways, European bank finds

Struggle looms as Venezuela opposition vows to fix crisis

IS earns $80 mn a month but starting to struggle: analysis

Putin expresses condolences for Azerbaijani oil rig accident

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