Oil and Gas News

December 31, 2015

No limit to output, Saudi Arabia says
Riyadh, Saudi Arabia (UPI) Dec 30, 2015
There is no limit to the level of Saudi crude oil production so long as demand permits, the Saudi oil minister said Wednesday from Riyadh. The Saudi Finance Ministry this week reported total revenue for fiscal year 2015 at $162 billion, an estimated 15 percent decline from budgeted revenues. Oil revenues are expected to reach $118 billion, a decline of 23 percent from the previous year. Exporting economies like Saudi Arabia's are pressured by lower crude oil prices, which are hovering at ... read more

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Canadian Oil Sands defends value against bid Canadian Oil Sands Ltd. said it was urging shareholders to reject a hostile bid from its counterpart Suncor, arguing it's positioned well for falling oil prices. ... more		Brazil defends treasures of its 'Blue Amazon' Hundreds of years ago, Brazil's southern Atlantic waters were sailed by pirates in search of plunder. Now these remote depths, dubbed the "Blue Amazon", hold richer treasures for scientists. ... more		Oil production costs low, Iran says Pointing to low production costs, Iran's director for OPEC affairs said the economy will grow with exports even in a weakened oil market climate. ... more
				Oil, gas wages for Colorado strong The oil and gas industry of Colorado accounts for around twice the average wage for other industries in the state, a university study found. ... more		Oil prices deflate as year winds down Crude oil prices retreated in Wednesday trading on sentiments of economic doubt from the International Monetary Fund director. ... more

New North Sea oil production begins Abu Dhabi National Energy Co. said it started producing oil from its Cladhan field in the British waters of the North Sea, its largest project to date. ... more		Texas manufacturing offsetting oil sector weakness Manufacturing conditions in Texas continue to show gains, offsetting some concerns about the health of the oil sector, a state economic outlook finds. ... 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		Siberian oil output to be supported by tax overhaul A new tax regime in Russia could pave the way to an increase in oil production from fields in Western Siberia, the Russian energy minister said. ... more
				Oil recovers from Monday's downfall Oil prices recovered some lost ground in early Tuesday trading on expectations of reasonable growth in 2016 for China and storms in U.S. oil producing states. ... more		U.S. gas prices inflated by refinery issues Refinery issues are again keeping gas prices higher for U.S. consumers who are watching crude oil fall to historic lows, retail market analysts said. ... more

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Tests slated for giant Kashagan oil field Test runs for production from the Kashagan oil field, the largest in the world, should be conducted before the end of the year, a Kazakh minister said. ... more		Winter storms sock U.S. oil states Snow- and ice-covered roads are making for hazardous conditions in parts of the U.S. with high levels of oil production, travel advisories show. ... 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		Iran vows to win back oil market share With more than 2 million barrels of oil per day expected on the market, an Iranian energy director said the country is ready to take a larger market share. ... more
Russia blames Saudis for low oil prices Russian Energy Minister Alexander Novak said in a television interview Monday it was Saudi Arabia that was to blame for the collapse in crude oil prices. ... more		North Dakota rig count hits new low The number of rigs actively exploring for or producing oil or natural gas in North Dakota is at a historic low, state data for Monday show. ... more		Oil prices take nosedive Strong negative sentiment from some OPEC's top oil producers pushed crude prices deep into negative trading on the last Monday of 2015. ... more		Saudi oil revenue down 23 percent Total oil revenues for Saudi Arabia for the year are expected to be 23 percent less than the previous fiscal year, the Finance Ministry said Monday. ... more

	Transocean loses another rig contract early Rig company Transocean said Monday its contract for the Polar Pioneer rig, deployed offshore Alaska, was canceled early by Royal Dutch Shell. ... more		Dreaming of energy security, India pumps desert oil The deserts of Rajasthan may be the showcase for India's solar revolution but the oil explorer that struck gold beneath the same sands insists the country needs to pump out more fossil fuels to wean itself off imports. ... 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

Putin: Be prepared for long oil price slump		Enterprise to help export first U.S. oil batch		Russia, Iran review gas cooperation potential		More drilling slated for Barents Sea		Oklahoma, Kansas among the few rig gainers
Oil continues gains on inventory draw		Monthly oil production in Texas down 8 percent		Not all of Texas down along with oil		OPEC revises U.S. shale durability upward		Iran bracing for $30 oil

Colorado cities may miss out on energy cash

Royal Dutch Shell makes deeper cuts

Oil rallies on OPEC price sentiment

North Dakota's population hits record high

Lundin declares oil find in North Sea

Oil prices drift lower on U.S. GDP

Eni praises role of Tripoli's national oil company

Encana set to divest from Colorado shale

Chevron makes LNG deal with China

North Dakota rig counts steady despite steep drop in oil prices

Crude oil prices move toward historic lows

Wood Group acquires U.S. services company Kelchner

Texas touts diversity amid low oil prices

Pakistan moves on gas pipeline funding

Shell, BG shareholders to vote on merger in January

New technique both enhances oil recovery and sequesters carbon dioxide

IMF: Iranian economy will grow slowly

Dutch ruling: What does it mean for Shell in Nigeria?

Barnett shale gas estimate doubles

Statoil cancels Transoean rig contract

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