Oil and Gas News

January 22, 2016

BP sees no rush to tap into Iran
Davos, Switzerland (UPI) Jan 21, 2016
Though doors are opening to the Iranian energy sector, BP's top executive Bob Dudley said few investors will rush in on a whim. Iran said it secured renewed access to European banking mechanisms after meeting the U.N.'s terms of a multilateral nuclear agreement brokered in July. Iranian atomic energy officials spent last week pouring concrete into some of their reactors. Iran said it could add hundreds of thousands of new barrels of oil to the international market as sanctions pressures ... read more

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Energy spending cuts may usher in recovery The decline in oil prices has led to a steep drop in spending, which could pull markets away from the supply side and lead to recovery, Fitch Ratings said. ... more		Gazprom mulls LNG options for Pakistan Russian energy company Gazprom said one of the more promising areas for cooperation with Pakistan was in the field of liquefied natural gas. ... more		Total scales back role in Russian oil field French energy company Total said it may transfer half of its stake in a Russian operation to a national player, but maintained a strong interest in the region. ... more
				Iraq faces 'harsh year' due to oil price fall: minister Oil revenues that supply the vast majority of Iraqi government funds are "very limited", with crude trading at half the value projected in the budget, the finance minister said Thursday. ... more		Canada's Trudeau sees low-carbon opportunities The Canadian economy can strike the right balance between heavy oil and natural gas and the need to address climate change, the prime minister said. ... more

Woodside to take $1.2 million write off Australian energy company Woodside Petroleum said it expects to write off up to $1.2 million from 2015 earnings, but maintained it can weather the storm. ... more		Oil ticks lower after ECB rate decision Weaker unemployment figures from the United States and concerns about downside risks from European Central Bank pushed oil prices lower Thursday. ... 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		NGOs call for oil drilling ban at Africa's Virunga wildlife park International environment and rights groups on Thursday launched a joint plea to the Democratic Republic of Congo and Ugandan governments not to allow oil drilling in or around the Virunga National Park, Africa's oldest wildlife reserve famed for its mountain gorillas. ... more
				Sponge-like material can store natural gas Although compressed natural gas represents a cleaner and more efficient fuel for vehicles, its volatile nature requires a reinforced, heavy tank that stores the gas at high pressure and therefore li ... more		China's Xi opens refinery with Saudi King Salman Chinese President Xi Jinping and Saudi King Salman on Wednesday inaugurated a joint-venture refinery, symbolising Beijing's deepening involvement in the Middle East and Riyadh's need for economic diversification. ... more

Military Radar Summit 2016 - Washington DC - February 29

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Shell not sure when recovery will emerge There's a durable sense of weakness in the oil economy and, while recovery is expected, it's uncertain when, Royal Dutch Shell said Wednesday. ... more		Kurdish oil player Genel sees trouble ahead Kurdish oil player Genel Energy said it was optimistic for 2016, but recognized macroeconomic pressures and strains from regional security may persist. ... 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 5 reasons online slots remain so popular		EIA: Oil markets won't balance until 2017 The global market likely won't pull away from the supply side until at least 2017 as crude oil lingers in storage, the head of the EIA told U.S. lawmakers. ... more
China oil giant targets first output cut for a decade Chinese state energy giant CNOOC has cut its targeted output for 2016, the first such move in over a decade, as fears grow over the health of the Chinese economy and plunging oil prices. ... more		Iran's Khamenei: Economic recovery is on us With sanctions pressures easing, the onus to address economic concerns in the depressed oil market is on Tehran, the country's ruling cleric said. ... more		Vietnam warns China over oil rig deployment Vietnam has warned China not to drill for oil after Beijing moved a giant rig at the centre of a previous maritime standoff back into disputed waters. ... more		AAA: Savings at the pump starting to plateau U.S. drivers continue to see gas prices drop, though the rate of declines are leveling off with prices only 18 cents less than this date last year, AAA said. ... more

	Crude oil moves lower as pessimism sets in Optimism over Chinese growth maturation evaporated Wednesday as markets measured long-term economic sentiments, pushing crude oil prices sharply lower. ... more		API: Regulations to blame for market slump The powerful American Petroleum Institute said the upstream energy sector was in decline and it was restrictive regulations that were to blame. ... 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

The trio who led Saudi Arabia's year of change		Shell lease requests offshore Alaska face scrutiny		Chevron in Chinese deal for LNG deliveries		CNOOC trims production guidance		Alberta's economy pinched by oil
Chinese president in Saudi Arabia to bolster ties		Iraq aims to cut spending on oil companies as prices dive		IMF lowers economic forecast for Saudi Arabia		Oil price leverage failed, Iran says		U.S. shale player Sanchez cuts spending

Crude oil edges higher on Chinese data

Oceana latest to call for end to Shell's Alaska program

Iran boosts oil production, condemns new sanctions

Fracking in Alberta: daily quakes and thirsty residents

BHP Billiton taking huge U.S. onshore charge

Chevron close to first Australian LNG export

Crude oil falls below $30 per barrel

Former Chesapeake boss eyes Argentinean shale

Gazprom posts strong European sales

Oil pressures spreading, Dallas Fed finds

Lundin: Statoil buy a vote of confidence

Industry impact on low oil prices 'brutal'

Norway asks oil and gas players to take long view

GAO: Only 6 confirmed market players in Iran's energy sector

Crude oil prices move higher on shades of optimism

State tax revenue squeezed by oil prices

Iran: No request for OPEC meeting

Africa-focused Tullow expects good year

Europe has questions about Baker, Halliburton merger

Oil tries again to rally

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